Housing Market Transformations: Policy Shifts, International Investments, and Environmental Impacts
Description
Policy Reforms for Housing Crisis Resolution: The government is urged to depoliticize housing policy as a 500-page report calls for radical changes to address the housing emergency. Rent pressure zones are extended until 2025, impacting market dynamics, while the housing deficit requires significant annual investments.
Leasehold Reforms: The Leasehold and Freehold Reform Act becomes law, granting homeowners enhanced rights, power, and protections. Key changes include simplifying the process for leaseholders to buy their freehold, extending lease terms, and banning new leasehold houses.
Environmental Impacts on Real Estate: UK environmental policies, aimed at achieving net-zero emissions by 2050, significantly impact the real estate sector. Regulations focus on energy efficiency, land use, environmental clean-up, and modern construction materials to promote sustainability.
Use of Overseas Funds: Research suggests that more than one in seven property purchases in the UK use funds from overseas. While this doesn't necessarily indicate money laundering, it highlights the importance of effective anti-money laundering processes and due diligence in property transactions.
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