An aerial view of Teddington Riverside, which had its Phase 1 launch in October 2018.
UK Introduces
Stamp Duty
Land Tax
Surcharge
On Non-Residents
Contributed by Ms Natalie Chan, Assistant Manager, Chief Revenue Officer’s Office, CDL.
The UK government has recently announced the introduction of a 2% surcharge on Stamp Duty Land Tax (SDLT) for all residential purchases by non-resident buyers in its Budget 2020. The government hopes that this new measure will help to control house price inflation and to support residents in the UK to get onto and move up the housing ladder. Money raised from the surcharge will be used to fund policies to reduce rough sleeping.
Currently, foreign buyers enjoy the same SDLT rates as local residents and an additional 3% surcharge is applicable to buyers purchasing a subsequent home. All non-resident buyers will have to pay a 2% surcharge on top of current SDLT payable for any purchase of residential property in England and Northern Ireland from 1 April 2021.
Despite the political uncertainty in the past few years, the UK, London in particular, remains one of the most attractive destinations for overseas property investment. Foreign buyers now have about a year to buy and complete any residential property purchase before the new measure kicks in and City Developments Limited has a selection of exquisite homes in London on offer.
Teddington Riverside, Teddington
Teddington Riverside is the only riverside development in the area that overlooks Teddington Lock.
Teddington Riverside is the ideal place to live, with easy access to mature parkland and excellent connectivity to Heathrow Airport and central London. Teddington Riverside offers a selection of one-, two- and three-bedroom apartments in four blocks, townhouses and a weir cottage with 24-hour security and concierge service.
Prices start from £770,000. Please click here for more information.
100 Sydney Street, Chelsea
100 Sydney Street is located in one of the most exclusive corners of the UK capital, opposite local destinations such as Chelsea Farmer’s Market and The Chelsea Gardener.
100 Sydney Street is a new boutique development in one of the most sought-after neighbourhoods in central London, comprising eight intelligently designed apartments with high specification interiors. Residents of 100 Sydney Street are able to enjoy on-site porter service as well as secure off-street parking.
Prices start from £5,750,000. Please click here for more information.
31 – 33 Chesham Street, Belgravia
31 – 33 Chesham Street is situated in the historic Belgravia district and reflects the grandeur and elegance of the Victorian era.
Located in the heart of Belgravia, 31 – 33 Chesham Street offers a collection of fully refurbished apartments with superb interior design behind a retained period façade. The development is just minutes away from Sloane Square underground station, providing excellent connection to City of London and beyond.
Prices start from £7,350,000. Please click here for more information.
All apartments are ready to move in immediately. For enquiries, please call (65) 8600 3900.
