NAEA Propertymark comments on the public register for overseas owned properties

Commenting on the public register for overseas owned properties, Mark Hayward, Chief Executive of NAEA Propertymark said:

“It’s excellent that this register will be up and running by 2021, ensuring dirty money can no longer be used to buy property under the guise of a shell company. Houses bought with laundered money often sit empty, taking homes away from the market that could be used for families and as such impacting the wider community. It’s important to know who the ultimate owner of a property is if we wish to maintain integrity in our property market.”

 

Kindly shared by NAEA Propertymark