More than a third of London investors believe that property is no longer a good investment, according to new research from Rathbones.
The figures further revealed that only 17 per cent of wealthy investors who own buy-to-let properties planned to increase their portfolio in the future. However, among those with over £100,000 of investible assets, only one in ten felt that property was not a good investment.
Recent tax changes in buy-to-let investments and newly introduced regulations affecting portfolio landlords were cited by investment firm Rathbones as the primary reasons behind investors turning away from the property market.
“While it’s understandable that property, and in particular residential property, has been a popular investment in the past, it’s now making less and less sense,” Rathbones investment director Robert Hughes-Penney said.
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