Housing:
Recently the housing market in the Isle of Man has shown signs
of cooling with prices rising by
only 8% in the last 18 months. As in the United Kingdom, the
majority of private house sales are conducted through estate
agents who are plentiful on the Island. Commissioner housing,
the equivalent in the United Kingdom of council/housing association
property is also available to those who qualify.
All the mainstream banks and building societies are represented
on the Island, and because of the Island's offshore status
many of them have their headquarters here. As a result there
is stiff mortgage competition between the various financial
institutions.
House buyers on the Isle of Man benefit from full tax relief
on Manx mortgage interest, and do not encounter stamp duty
like they do in the UK. Instead they pay a record fee of between
£4 minimum and up to £1000 (for a property valued
at £1,000,000).
Employment: The underlying
trend in 2006 is that there is a broad range of positive career
opportunities
likely to continue throughout the year. 2005 was a steady
year for the recruitment market showing considerable increases
in more senior opportunities so giving encouraging signs for
the year ahead. Salaries for vacancies range from £10,000
to £120,000 and hourly rates for temporary position
from £6 to £35. A buoyant situation
on the Island which offers exciting carer prospects, and a
high quality of life and standard of living, thus attracts
a large number of high calibre people.
In 2005 the unemployment rate was under 2% and this is a
relatively low and favourable position compared to many other
nations. Vacancies registered with the Job Centre are roughly
equal to the number of unemployed.
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