THE creation of Real Estate Investment Trusts (REITs) in the March budget could mean a real boost for North West property companies.

Speaking at a meeting of the MEN Property Club, Brian Clark, tax partner at PricewaterhouseCoopers, said that REITs, which offer tax advantages to property investors, will make it easier to buy and sell property.

"This is good news for many companies in the UK listed real estate sector. The government has listened to the feedback received during the consultation for REITs and it has responded appropriately to challenges facing the industry," he told the regular gathering of property professionals.

"This revised regime should provide a great opportunity for existing real estate companies, encouraging a more liquid market.

"Quoted property companies should be evaluating now the value of conversion to their shareholders." Tweet