ARTICLE · 23 MARCH 2011

An Exciting Budget For REITs

Deloitte

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Phil Nicklin, Real Estate Tax Partner at Deloitte, who was one of the main architects of the REIT regime, comments on the impact of today’s Budget on the real estate industry:

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Phil Nicklin, Real Estate Tax Partner at Deloitte, who was one of the main architects of the REIT regime, comments on the impact of today's Budget on the real estate industry:

"Christmas has come early for REITs. The Government is being very ambitious in its approach. They propose measures to reduce the barriers to entry to the regime and to encourage institutional investment in REITs. To cap it all, they also propose to reduce the stamp duty rate on bulk purchases of residential property, from this year.

"These measures, together with the increasingly attractive rental yield on residential property, should hopefully tip the balance and bring billions of pounds of badly-needed institutional money into housing.

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