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Budget could reach the REIT solution

With the financial economy struggling and the FTSE dropping below 4,000, there is a demand from the British Property Federation to the Treasury to reform the Real Estate Investment Trust (REIT) regulations.

At present, the REITs which came into existence on January 1 2008, gives perks to landlords. Landlords are largely free of corporation tax but have to pay 90% of their rental income in dividends. The British Property Federation wants to change some things like deferring dividends or allowing them to be paid in stock. The BPF believes such changes could help in recovery and tempt new entrants to join the scheme.

Phil Nicklin, a real estate tax partner at Deloitte and an advisor on REIT to the Government says the conditions and rules of REIT were set during the property boom and cannot be considered as appropriate during a property price crash. The current property price crash has seen the value of capital fall by about 40 percent. To avoid a ‘breach of banking covenants’, some large REITs are approaching shareholders to raise more than £2 billion.

Changes like eliminating Stamp Duty Land Tax (SLDT) to the private rented sector have been asked to encourage residential REITs and attract more activity and investment in the residential sector.

Popularity: 15%

UK property market could soon witness rent stabilisation

During the past one year, there has been a sharp fall in property and home rents. And tenants, who are looking for more reductions in their rents, may be unhappy, as it seems that landlords have already reached their limits.

Estate agents have suggested that properties which have a rent of £1,000 per week or more are taking some time to shift, while properties that fall under the £500 a week are already successful in attracting two or three bidders. Over the past year, the average rents have seen a fall by at least five percent.

Going by the latest trends shown by the property market, if the lower end bargain hunters are able to secure a reduction, they should consider themselves really lucky.

According to a leading property research firm, the supply of rental properties has exceeded by sixty five percent in the London area, as compared to the previous year. The demand has also increased simultaneously but only by twenty percent.

At the end of 2008, the Royal Institution of Chartered Surveyors did a survey that showed a razor-sharp fall in rents. Since then rents are still going downhill instead of rising up.

Of courses, the prices vary depending on the region and month. Over the past year, the North East has seen a rise by 2.2 percent while the North West seen the sharpest annual downfall of 13.5 percent.

Popularity: 12%

Tips on installing your kitchen in the best possible way

Your kitchen has a lot of items. So, redoing your kitchen or installing a new one can be quite a tiresome experience. Space has to be made for the various things that you are going to install. Moreover, they have to be placed in the proper location, to ensure that everything looks neat and tidy, after the work is complete. Some tips mentioned below should help you in getting through this ordeal without many problems:

• As with any project, it is always important to plan ahead. You need to make sure everything in the new design is how you want it to be. Any alterations made after the plan has been executed, will cost you extra money and so must be avoided
• Necessary appliances within the kitchen are the sink, oven or stove range and the refrigerator. They need to be placed at a good distance from each other, to prevent crowding and a disorganised look. Too little space between your appliances can make your kitchen feel claustrophobic and be a big problem if someone else decides to help you in the kitchen work
• A good set of cabinets will help you store all your appliances in a neat and secure manner. It is essential to have good quality storage units, as you would need them to hold all your kitchenware

If your kitchen is spacious, installing a dining table would be a great idea, as it will make provide a suitable place for a cosy morning breakfast, or allow you to help your kids with their homework while you are cooking.

Popularity: 12%

Tips for planning your new bathroom

Everyone likes to have an elegant bathroom to compliment their beautifully designed home. Bathing in a luxurious bathroom can help you in getting rid of your stress and relax. The most common bathroom design mistakes made by people are bad lighting and improper ventilation. If you are planning to build yourself a great bathroom, it is important that you do not forget these two important aspects.

Good quality mirrors can help you in improving the lighting of your bathroom. A mirror that is situated at the right place will reflect both artificial and natural lighting and make your bathroom look well-lit. It will also give it a sense of spaciousness.

The interiors of your bathroom can be designed in such a manner that is best suited to you. A modern day bathroom is usually very cosy and comforting in its appeal. It can be designed in a number of ways. Various structural and design elements can be fused together to give your bathroom the attractive look, as desired by you. You can opt for a traditional look or a more contemporary one. You can also add various accessories like soap dishes, towel rails, glass shelves and baskets that will further enhance the practicality of your bathroom.

Besides this, paying special attention to the space utilisation in the bathroom, like proper wet and dry areas, will help you in getting a bathroom that is functional, as well as ornamental. Hiring a professional service to assist you with the design and the execution will undoubtedly help you in getting a bathroom you deserve.

Popularity: 12%

Opt for a loft conversion and improve your living style

When you feel that your home is not large enough for your family, the first thing that comes to your mind is selling off the property and buying a larger property. This will involve a huge amount of planning, time and money. Another easy way to cater to your requirements is opting for a loft conversion.

Converting your loft is a comparatively much simpler job. You can appoint contractors who can build you a loft room or convert the small loft room into a larger living space. Once you strike a deal with the loft conversion contractors, you do not need to worry about the loft conversion anymore.

If you are planning to do the loft conversion yourself, then you need to do adequate research and planning before starting the work. Firstly, you have to consult an architect for the designs and plans of your existing building and to find out how large your loft conversion can be built. If the loft conversion is considerably small, then you may not require any planning permission.

However, if the loft conversion is large, then a proper planning permission is required and the loft room should be in accordance with the standard building regulations of your area. Once these preliminary permissions and designs are approved, you can go ahead with the construction of the loft conversion by hiring a professional contractor.

Loft conversions are reasonable, provide you with extra living space and increase the value of your property. Thus, by investing in a loft conversion, you not only improve your lifestyle but also ensure a greater return from your property.

Popularity: 10%

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