Tag Archives: asia
Poll reveals pensioners with buy to let worried about tax change
Almost three quarters of pensioners in the UK who have an investment property said they would struggle to make ends meet if they didn’t have the income from their buy to let, new research shows. Overall 72% would struggle and 81% of those aged over 65 said that their properties provide an important, even vital, boost to their retirement income, according to a poll carried out by Responsible Equity Release. The poll also found that 92% are worried about the changes to mortgage interest tax relief and the impact on the profit they make from their investment property. The buy to let tax changes coming into force have left many pensioner landlords considering whether it’s worth holding onto their property and 41% said although their buy to let property was a valuable income generator, they are now thinking seriously about selling it. ‘For many pensioners, having a buy to let property has been a life saver in this low interest environment. While their savings have languished, earning very little interest, and pension income has been hit hard by falling share prices, property income has remained strong,’ said Steve Wilkie, managing director at Responsible Equity Release. ‘Without the income boost from their buy to let, many would really be struggling to make ends meet. But the Chancellor has yet again ignored UK’s retirees when he announced changes to the way buy to let would be taxed,’ he pointed out. ‘George Osborne was so focused on taxing the rich, he forgot that a new tax on buy to let won’t just hit the wealthy, it will also hit those honest, hardworking people, who may have a single buy to let property and were just hoping it would earn them a little extra income in retirement,’ he added. Continue reading
Latest data suggests slowing in residential markets in UAE
The residential property market in the United Arab Emirates seems to be going through a period of stabilisation with some locations seeing growth and others recording a slowdown. In the first quarter of 2016 sales and rental prices in upcoming, inland neighbourhoods across the UAE are rising while in prime areas they are falling, according to the latest property report from classified website Dubizzle. It records an increase of up to 13% in sales and rental prices in emerging locations such as Al Ghadeer, Al Reef and Al Furjan, when compared to the first quarter of 2015. For example, property sale prices in Abu Dhabi’s Al Ghadeer and Al Reef rose by 3% and 4% respectively when compared to the same quarter in 2015, while rental prices for one and two bed apartments in Al Reef rose by 9% while three bed apartments in Al Reef rose 11% and in Al Furjan in Dubai rents for one bedroom apartments increased by 13%. Meanwhile, prices in more established, central areas have dropped, for example rents dropped by 10% for one and three bedroom apartments in Abu Dhabi’s Corniche when compared to the first quarter of 2015. The same trend was seen in Dubai, where sales prices for properties in mature locations such as Business Bay, Dubai Marina, Downtown Dubai and Jumeirah Lakes Towers fell by between 8% and 10%. Business Bay saw rents for one bedroom apartments fall by 5% and two bedroom apartments were down by 4% while the rental price for three bedroom apartments remained unchanged. Data from property firm Bayut also records falls in some locations in Dubai in the first quarter of 2016. Rents were down by 3% year on year and sale prices down 6%. The firm believes that as more and more households move to the suburbs, investment opportunities in areas like Dubailand and Dubai Sports City could become more enticing. It suggests that the increased popularity of these localities coupled with low property prices has resulted in rental yields as high as 9%. ‘We think Dubai’s suburbs are ideal for both new home buyers who can still benefit from low prices and investors, who can enjoy impressive rental yields thanks to these areas’ rising popularity,’ the report says. Continue reading
Poll reveals how British people think their homes will be powered in the future
A wind turbine in the garden and electronic devices driven by exercise equipment are some of the revolutionary changes home owners in the UK can look forward to according to a new poll. Home owners certainly see homes being powered in a very different way from the current reliance on electricity from the national grid. A survey conducted by Gocompare Energy reveals that people think that in the future there will be wind turbines in gardens creating a personal power supply and little water turbines in gutter pipes and bathroom drains to harness further power. Other ideas that could become a reality include homes being roofed with tiles that have inbuilt solar technology while some of the more whacky ideas include floorboards that harvest energy as you walk across them. The poll asked if people thought that there would be changes in the way homes are powered in the future and the vast majority, 91%, stated that they thought there would. Of these, 84% believed power would come from ‘more sustainable sources’, with a further 61% believing that UK homes will become more ‘self-sufficient and independent’. Some 9% believed that homes will not be powered by any mains gas or electricity at all in the future. Some 55% thought appliances will be powered by exercise devices in the home, 51% believed that energy could be harnesses from water flowing through household drains and 43% thought gutters could generate power when it rains. Another 39% could believe that all roof tiles will automatically harness power from the sun and 22% could foresee a future with a wind turbine attached to every home while 14% thought flooring could be used to generate energy. In addition to these, 8% of respondents believed that certain modern gadgets that require a lot of energy would be banned in the future, including appliances such as kettles and washing machines and overall a third of respondents believed that these predictions could come into effect as soon as 2020. ‘It’s been fascinating to see what energy innovations people think we could see in our homes in the future. It’s no wonder that we are starting to see more people considering the sustainability of our power sources but that’s not to say that washing machines are going to be outlawed any time soon. If anything, they will just become more energy efficient,’ said Ben Wilson, an energy expert at Gocompare Energy. ‘What’s particularly interesting is that some of these predictions aren’t necessarily that farfetched. I could well envisage a workout station where you can charge your mobile phone while you work up a sweat, or the advance of solar technology to make it all a little more aesthetically pleasing for UK rooftops,’ he explained. ‘The industry is fast paced and alternative and renewable energy providers are constantly looking for new ways to generate power, so I could see some of these coming to British homes very soon,’ he… Continue reading
