UK property developer taps Chinese market
Updated: 2013-10-25 17:27
By Cai Muyuan (chinadaily.com.cn)
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Louis Bai |
According to Thomas, London has unique advantages over other foreign property destinations as no capital gains tax or property tax is imposed, though there is a low rental income tax.
Even though there's a low rental income tax, London, unlike other foreign property destinations, does not impose capital gains tax or property tax.
"That along the well-established legal system, under supply of residential properties in London and the depreciation against the yuan, can really work towards the Chinese investor's favor."
Chinese investment in Britain rose to $4 billion in 2012, up 80 percent from a year ago, with London being the destination of 60 percent of China outbound direct investment in the United Kingdom.
"With such a vast potential market in China, we look for long term strategy and we are starting our business based on trust. Once we have built a strong trust relationship with our Chinese customers, our products will have great prospects in the Chinese market," said Thomas.
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