UK property shortage: can we learn from Vancouver, Paris and other countries? – lovemoney.com

Countries around the world are struggling to find sufficient housing to keep up with growing populations. The UK is looking at ideas being used in Canada, Australia, France, Denmark, and Switzerland in an attempt to solve its housing shortage. Vancouver, Canada and Paris, France both charge taxes on empty houses. New South Wales and Victoria, Australia have increased taxes levied against foreign buyers and homes that have been vacant for six months, respectively. Denmark and Switzerland severely curtail property purchases by foreign buyers.

Key Takeaways:

  • The UK is looking to other major cities to address its property shortage problem.
  • Some cities such as Vancouver are introducing taxes to help property shortage.
  • Other cities are discouraging foreign investment to prevent property shortage.

“In Denmark, the basic rule is that anyone from outside the EU must have lived in the country for five years or more or need to get permission from the Danish Ministry of Justice before buying.”

Read more: https://www.lovemoney.com/news/66962/how-other-countries-deal-property-shortage-homes

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