I have speculated on this before and am wondering what any of you property bears or bulls feel should have been done in the past, or could be done in the future to cool down the property market without causing the disastrous crash many on here are expecting (this is not intended to be yet another negative property thread). So here goes:
1. Stamp duty on non-ppr's should be increased, the present increment for investors is too small (in the sense that home owners pay virtually the same), surely this helps to make stamp duty an extremely regressive tax.
2. Tax designated area's should (in the main) be eliminated completely.
3. The percentage of interest deductible from rental income on an investment property should be gradually decreased - eg, next year allow 85%, the following year 75% etc, down to about 50% eventually.
4. Introduction of a property tax, say 1% on the value of non-ppr's.
5. Stricter enforceable controls by the central bank with regards to mortgage lending criteria (not overly keen on this interference myself, but...).
These are a but few musings of an ill-informed moaner, rip them to shreds
1. Stamp duty on non-ppr's should be increased, the present increment for investors is too small (in the sense that home owners pay virtually the same), surely this helps to make stamp duty an extremely regressive tax.
2. Tax designated area's should (in the main) be eliminated completely.
3. The percentage of interest deductible from rental income on an investment property should be gradually decreased - eg, next year allow 85%, the following year 75% etc, down to about 50% eventually.
4. Introduction of a property tax, say 1% on the value of non-ppr's.
5. Stricter enforceable controls by the central bank with regards to mortgage lending criteria (not overly keen on this interference myself, but...).
These are a but few musings of an ill-informed moaner, rip them to shreds