Wednesday, Jun 14, 2017

Increasing the supply of homes for foreign investors

The Guardian: Foreign investors snapping up London homes suitable for first-time buyers

First time buyers are missing out as homes are bought investors from Hong Kong and Singapore at inflated prices.
The mayor of London said: “international investment plays a vital role in providing developers with the certainty and finance they need to increase the supply of homes and infrastructure for Londoners”

Posted by cyril @ 07:06 AM (1868 views) Add Comment

4 Comments

1. icarus said...

"Led by investors from Hong Kong and Singapore, foreign buyers snapped up 3,600 of London’s 28,000 newly built homes between 2014 and 2016, according to the most comprehensive survey yet of international investment in London housing. About half of those were priced for first-time buyers between £200,000 and £500,000".

Bit of a non-story. Poor writing: in that para: does 'half of those' refer to the 28,000 or the 3,600? If you read on it appears to be half of the 3,600. So it seems domestic buyers 'snapped up' 78% of the 28,000 (28,000 / 3,600) new homes and about 1,800 FTB-priced homes were sold to foreigners. We aren't told what % of the 28,000 is priced for FTB, so we don't know what % of FTB-priced homes were 'snapped up' by foreigners.

Wednesday, June 14, 2017 09:07AM Report Comment
 

2. cyril said...

I think it means that half of the 3,600 were priced for first time buyers although that is a bit of a nonsense because I doubt that many FTBs can afford £500,000.anyway!

Friday, June 16, 2017 08:38AM Report Comment
 

3. sneaker said...

Please stand by for your next free market experience.

It's the new freedom!

Sunday, June 18, 2017 03:18PM Report Comment
 

4. icarus said...

@3 - Grenfell?

Monday, June 19, 2017 12:46PM Report Comment
 

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