20th September 2023
It seems that with the macro-economic environment, increased regulation and increasing interest rates, developers are currently facing a perfect storm. Paul Atkins, Partner and Head of Property Tax, explores this further within his article published in Premier Construction News.
Having seen a buoyant housing market over the last few years, some of the largest developers are now feeling the strain and in recent weeks headlines have warned of threats to profits, that reservations on new homes have dropped by a third, and that the asking prices for UK houses have suffered the sharpest August drop in five years.
As a result, many developers will now need to ensure that cash is either retained in the business or invested very wisely – focussing on ensuring tax costs are minimised as much as possible, whilst still achieving commercial objectives will be imperative.
Paul notes some of the current key areas for developers to focus on within his Premier Construction News article, here.