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According to research from the Bank of Cyprus UK, this figure (53 percent) has risen by slightly since the last iteration of the research conducted in early November 2015, before the Autumn Statement and the Budget, both of which penalised buy-to-let landlords.
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The findings show that while residential property is the overwhelming investment choice for owner-managed businesses, just eight per cent see commercial property as an attractive investment. Cash investments (16 per cent) and stocks and shares (13 per cent) also fall far behind residential property in terms of attractive investment options.
Lakis Kasapis of Bank of Cyprus UK said: “Despite the new measures making life harder for buy-to-let landlords, demand for residential property as an investment is still strong, and surprisingly people are even slightly more bullish about buy-to-let investments than six months ago.
“We saw a rush to buy in the first quarter of this year as investors capitalised on buy-to-let property purchases before the stamp duty increase took effect in April. It remains to be seen, however, if this appetite for investing in the residential market will now come to a hard stop following the stamp duty increase, or whether it will continue given the scheduled personal tax relief changes and the continued uncertainty surrounding a potential Brexit”.
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Susie Hughes © Shout99 2016
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