It would be easy to think that demand from overseas buyers is likely to drop in the months ahead. April sees the introduction of a new Stamp Duty surcharge for those purchasing a UK property from abroad, with buyers having to put up an extra 2% compared to domestic buyers.
Stamp duty has been a big topic of discussion for everyone in the property market of late, thanks to the ‘will they, won’t they’ over a possible extension to the stamp duty holiday which was due to end at the start of April.
The clock is ticking on the Government’s Stamp Duty holiday. Last summer Rishi Sunak, the Chancellor of the Exchequer, announced that no Stamp Duty would be charged on the first £500,000 of any purchase made before the end of March 2021.