Real Estate in Deloitte in Scotland
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April is historically an important month for legislative changes, with a raft of new rules and regulations introduced. This year is no different, and will herald the introduction of a big change to the Scottish real estate market: the Land and Buildings Transaction Tax (LBTT). Replacing Stamp Duty Land Tax (SDLT), it will affect all transactions involving the purchase of, and granting of leases over, Scottish property.
Last week, we posted the first four of eight predictions for the Scottish real estate sector in 2014. In this blog, we complete the set – full details for which can be found in our 2014 Real Estate Predictions report.
This time round, we’re looking at reasons to be cheerful on the high street, the impact of online shopping, public sector property sales, and how real estate can be used in the war for talent.
Over the last five or so years, the Scottish and UK property industries have been tested to their limits.
Every part of the country has felt the impact of falling values, risk-averse investors, nervous consumers and the multitude of related problems these have created for property.
Thankfully, we’re now seeing something resembling a steady recovery ahead. Deloitte Real Estate’s 2014 property predictions reflect increased levels of activity in the market – in the first of a two-part series, we outline our thoughts on growth, capital values, overseas investors and resurgence in construction confidence.