Opening doors for others

Article Abstract:

The Assured Tenancy Schemes were created in 1988 by the Chancellor of the Exchequer as part of the Business Expansion Scheme (BES) to increase the supply of rental housing in the UK. However, there are complaints that the BES schemes are not accomplishing this objective. Instead of providing homes for those who need them, the scheme only benefits investors who can easily afford housing and are using short assured tenancies mostly as a tax shelter. Others worry that investors will start to disinvest in housing when the tax breaks are withdrawn in 1993. This will result in an oversupply in the housing market and, consequently, in depressed house prices. Supporters of the BES schemes, on the other hand, argue that investors are not the only ones enjoying the benefits of the schemes. Short assured tenancies are helping tenants by providing them a wider range of properties for rent to choose from.

United Kingdom, Housing, Rental housing

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Digging in to survive going under

Article Abstract:

The Scottish real estate industry is currently in a slump. Property values are down, interest rates are high, and there is a general lack of confidence in the market, thereby resulting in an oversupply of commercial property. Property development projects tend to ground to a halt in this kind of an environment, particularly when a project's developer and contractor experience financial difficulties. The third player in property development, the funders, are then usually galvanized into increasing their investment in the project to so as to improve their chance of getting sufficient payback, and also to help restore the confidence of the market. A hypothetical property developer, Caithness and Cornwall, is used to illustrate what happens to projects when their developers go into receivership.

Subdividers and developers, not elsewhere classified, Economic aspects, Real estate industry, Real estate development

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No-zone depletion

Article Abstract:

The enterprise zone (EZ) status is granted to certain areas in Scotland to encourage the development of office and industrial accomodation in these places. There are currently three enterprise zones in the country: Tayside, Inverclyde and Invergordon. Lanarkshire will replace the now-popular business area of Clydebank, whose EZ status expired in 1991, as Scotland's fourth enterprise zone when it is granted that status in 1993. All of these zones have the same characteristics. They are scenes of a major industrial closure and incentives are provided for the development of industrial units in the hope that such investment will create employment in the area.

Scotland, Enterprise zones, Industrial development, Industrialization

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