The Next Five Years in Property

The Next Five Years in Property
Following the general election 2015, Johnny Kelly, associate in the real estate group at Mishcon de Reya, considers what the election result could mean for the property sector.
What does the result mean for your practice area?

One form of uncertainty is replaced by another. Before the election, markets were nervous about a mansion tax and possible capital flight if the non-dom rules were changed, plus the usual pre-election uncertainty about the prospect of change.

In view of the result, these issues may have gone away for a bit. But there is now fresh reason for uncertainty. The new government is committed to an EU in-out referendum in 2017. It no longer needs to do a deal with the Liberal Democrats, who might have vetoed a referendum.

So for the next two years, businesses won’t be sure how far they can plan ahead. Will this have an effect on investment? Many busine

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