Hopes for market boost from tax allowance rise
House prices in the Isle of Man are 'firm' and sales volume has risen over the past six months, according to a local estate agent.
Chairman of Chrystals Shane Magee says after a long period of stagnation, those signs are encouraging.
He was among more than 200 local business delegates who gathered to swap views on this year's budget, at a presentation given by Treasury Minister Alf Cannan last week (22 Feb).
Mr Magee was among those concerned the tax cap rise to £200,000 could deter wealthy entrepreneurs from re-locating to the Island.
But he described the rise in personal tax allowance to £12,500 as a much-needed feel-good factor, to boost a fragile market:
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