Pifs may overheat market

property

proposed property vehicles more likely to ramp up prices than boost supply, says standard life

The Government's proposed Property investment funds (Pifs) threaten to overheat the UK market unless they are allowed to invest abroad. That is the view of Standard Life Investments, which believes a sudden influx of money is more likely to overheat prices than it is to boost supply. The Government is still consulting on the final structure of the vehicles, which are likely to be listed and closed-ended, and it hopes Pifs will help expand the residential rental market. Andrew Jackson, director of property research at Standard Life Investments, believes the new vehicles could exacerbate e...