Asian investors should take huge comfort in the Conservative win – particularly where they may have invested in residential property and specifically in the buy-to-let sector. The final result of a Conservative majority should come as a huge relief to both overseas buyers and owners generally of London residential property. The main reasons being:
• No mansion tax as proposed by both the previous coalition and Ed Milliband’s Labour party.
• No price cap on rental properties.
• Five years of a Conservative majority government without interference from the coalition.
• The possibility of a reduction in stamp duty.
• No threat of the non-domicile tax benefit being removed.
Andrew Langton is Chairman of Aylesford International.