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The UK government’s decision not to extend stamp duty relief thresholds has created headlines, but it hasn't shaken the confidence of most buyers. According to a survey by Benham and Reeves, only 5% of buyers plan to delay indefinitely, highlighting the enduring appeal of UK real estate.
Investment opportunities
A Promising Market Outlook for 2024
While 71% of buyers were hoping for an extension, 95% remain committed to their plans. The survey revealed:
- 73% of buyers are proceeding without hesitation.
- 22% may experience brief delays before continuing.
In fact, 38% are already in the process of completing their purchases, aiming to meet the 31st March deadline before stamp duty thresholds revert.
Potential Adjustments for Buyers
Some buyers may need to adapt their strategies if they miss the deadline:
- 39% will proceed despite increased costs.
- 25% may need to save additional funds.
- 15% might renegotiate their offers.
- 11% expect to adjust their mortgage.
- 10% may withdraw from the process.
Why the UK Market Remains Attractive for UAE Investors
Marc von Grundherr, Director at Benham and Reeves, reassures that the UK's long-term real estate outlook is highly positive. The recent Bank of England interest rate cut improves mortgage affordability, countering the short-term impact of stamp duty adjustments. For UAE investors, the UK remains a prime destination for stable and lucrative real estate investments.
conclusion
Take the Next Step:Don’t let stamp duty changes deter your investment goals. The UK real estate market offers exceptional opportunities for UAE investors seeking long-term growth. Visit our website to explore exclusive investment options and let our experts guide you every step of the way.
