14 December 2005

UK real estate investment news

Investors could be encouraged to put money into the new real estate investment trusts through savings products such as individual savings accounts and child trust funds, the government revealed on Wednesday.

In last week’s pre-Budget report, Gordon Brown finally gave the go-ahead for Reits – tax-efficient vehicles for property investment – after years of wrangling and thwarted expectations.

Reits are worth hundreds of billions of pounds in other countries such as the US and Australia, where their high yields from steady income streams appeal to large numbers of investors.

Legislation detailing how Reits would operate was put before parliament on Wednesday afternoon.

More here.

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