The REITs consultation announced on Budget Day shows that, in response to lobbying from the property industry, the government is willing to consider some fairly radical changes to the rules to provide support to the property sector. The main focus of the consultation is on lowering perceived barriers to entry to the regime, with the aim of encouraging new investment through REITs, particularly in the residential sector. For existing REITs, there is also good news as the government has also indicated its willingness to consider making certain technical changes to the rules to support good business practice.
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