Huttons’ comments on temporary relief for individuals and developers

The temporary relief is definitely good news for everyone from individual buyers and developers. However not everyone will qualify.

Qualifying individual buyers now have more time to dispose of their existing properties and apply for remission. This lifts the time pressure on buyers.

For developers, it offers some breathing space as they will get an extension of 6 months.

We feel that the extension should be 12 months taking into consideration that the pandemic could last till the end of the year. We hope that the Government can look into extension of this relief should the pandemic be extended.

• By Huttons Group
• May 8, 2020