BUDGET 2016: No exemption for institutional investors will be 'huge blow' to build to rent

16 Mar 2016

Policy area: Residential, Tax & Finance

Melanie Leech, chief executive of the British Property Federation, comments on the Government's decision to not include an exemption for large-scale property investors from the 3% SDLT surcharge for additional homes: “The Government's decision to not include an exemption for investors who are purchasing large portfolios of properties for rent is extremely disappointing, and deals a huge blow to the build to rent sector. This is going to be a significant deterrent to the institutional investment currently poised to settle in the purpose-built rented sector, which has the opportunity to deliver a significant number of new, quality affordable homes."

The most recent figures from the BPF's Build to Rent map show that there are 40,000 build to rent units in planning, construction or completed across the UK.