PARLIAMENTARY WRITTEN QUESTION
Housing: China and Russia (7 February 2019)

To ask the Secretary of State for Housing, Communities and Local Government, what information his Department holds on investment in UK property by citizens of (a) China and (b) Russia; and if he will make a statement.

Asked by:
Sir John Hayes (Conservative)

We do not hold data on property ownership by national citizenship. However the Government recognises that purchases of homes by residents not in the UK can contribute to inflating house prices. Foreign nationals making overseas purchases of UK property have made it more difficult for UK residents to purchase a home of their own. That is why HM Treasury are consulting on the details of a Stamp Duty land tax surcharge for foreign non-resident buyers.

We continue to welcome overseas investment in the UK housing market which continues to make an important contribution towards the Government's target of building 300,000 homes per year by the mid 2020’s.

Answered by:
Kit Malthouse (Conservative)
15 February 2019