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The Masked Tulip

Is The Uk Becoming A Home To The Global Super-Rich?

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...leaving the native population incrasingly living in poorer and poorer housing?

How will the growth of wealth in Asia affect this trend? Following the super rich from the Middle East came the super-rich from Russia.

What next - Chinese? Indians?

People able to exploit cheaper work-forces, less restriction taxation and business regulations, access to markets that most Brits would have difficulty in getting into... but then taking their new-found wealth and buying up property in the UK?

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London is a fantastic place to live if you're a billionaire though.

Whats so fantastic about it, other than being chock full of other billionaires making you feel 'average' (unless they want to feel normal/average)

Still have to put up with shitty traffic, unless they drive a bus. Still have to put up with knife wielding jamals, Still have to put up with miserable weather. Still have to put up with dirty air.

Id go to LA, amazing mountains, even skiing within driving distance, pacific ocean nearby. Sunny most the year.

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Well the Arabs seem to Favour it over the USA, we have got the russians and Indians now and expect the chinese. They don,t trust their own governments so stash of lot of their assets and family out in a nice safe haven. London is also very tolerant

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London is a fantastic place to live if you're a billionaire though.

However good England maybe (which it isnt) it will always be grey, cold and dingey for 9 months of the year.

There are much better places.

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London is a fantastic place to live if you're a billionaire though.

They are here because property in the UK is free of property taxes. The taxes that should be paid by property owners is being paid by the suckers who live and work here.

Edited by Mr. Spin esq.

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Guest Noodle

Well the Arabs seem to Favour it over the USA, we have got the russians and Indians now and expect the chinese. They don,t trust their own governments so stash of lot of their assets and family out in a nice safe haven. London is also very tolerant

Labour screwed up when the booted Shinawatra out. That'll have put a lot of future exiles off Blighty.

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Whats so fantastic about it, other than being chock full of other billionaires making you feel 'average' (unless they want to feel normal/average)

Still have to put up with shitty traffic, unless they drive a bus. Still have to put up with knife wielding jamals, Still have to put up with miserable weather. Still have to put up with dirty air.

Id go to LA, amazing mountains, even skiing within driving distance, pacific ocean nearby. Sunny most the year.

In three words: visas, taxes and totty.

It's the biggest cultural melting pot in the world and these mega-rich boys like the tax regime. Anyone can feel at home in London. It's a surreal bubble economy in its own right though.

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In three words: visas, taxes and totty.

It's the biggest cultural melting pot in the world and these mega-rich boys like the tax regime. Anyone can feel at home in London. It's a surreal bubble economy in its own right though.

I thought it was accepted that English women are fat, ugly, stupid and money grabbers. :blink:

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In three words: visas, taxes and totty.

It's the biggest cultural melting pot in the world and these mega-rich boys like the tax regime. Anyone can feel at home in London. It's a surreal bubble economy in its own right though.

If you have GBP 1 million, you can get an investor visa to live here as long as you keep the money here for about 5 years and then get a settlement visa.

Apart from the taxes on the income that the GBP 1 million generates, only GBP 30k in tax is due per year for non-doms as long as they can demonstrate that they are brining in capital and not income.

The UK is one of the best tax havens in the world for globally mobile, rich people. I am surprised that it isn't on the OECD list of tax offenders.

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I thought it was accepted that English women are fat, ugly, stupid and money grabbers. :blink:

Foreign totty living in London. Young, fit, beautiful, smart, money grabbers.

A perfect match for old, fat, ugly, bright and really rich men.

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In terms of average residential hosing (3 bed semis) I don't think the super-rich are having any adverse effect on Mr Average Brit. I guess the price of £5 million mansions might again one day start to command a premium though.

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If so I cant think why. If I had a few million I would never darken these shores again.

Why wouldn't they.?

I like it here, there is always something to do Go somewhere hot [ not western societies] shagging ,drinking,drinking,shagging, swimming what else, i do that anyway[ not as often but enough ] :lol:

if the uk had guaranteed "sunnyness" we could stop our Sky Sports subs and really consider thoughfully our wives opinions for more

than 4 months of the year. [ :ph34r: i'd be alot richer :ph34r: xxxin handbags, Sky Sports is great value though B) ]----more money more civilised fun

Edited by Zngland

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I was chatting with a loaded Nigerian buddie about this a year or so ago.

I asked him what he thought was the safest real estate market in the world.

"London," he replied without hesitation.

"What about Vancouver?" I asked.

"New kids on the block," he replied and this is a guy who has lived in Toronto for a few years. "London has been solid for 400 years. The place has legs."

That was his view and I don't think he's alone.

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In terms of average residential hosing (3 bed semis) I don't think the super-rich are having any adverse effect on Mr Average Brit. I guess the price of £5 million mansions might again one day start to command a premium though.

This is a tough one but I would say that, on balance, the prices of high end homes in London have dragged up prices across the rest of the UK.

The rocket fuel of lax and excessive credit that helped make many temporarily rich people also had a massive impact on prices across the rest of the UK so the impact was doubled.

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This is a tough one but I would say that, on balance, the prices of high end homes in London have dragged up prices across the rest of the UK.

The rocket fuel of lax and excessive credit that helped make many temporarily rich people also had a massive impact on prices across the rest of the UK so the impact was doubled.

Agreed

The mega rich buy up central London , displacing the rich into the bit just outside the centre who displace the comfortable to the next bit out and this creates a ripple effect outwards. Even the doddgy parts of east london have got expensive beyound the people who used to have to move to them when they were FTB's. These FTB's and others have been displaced into Essex putting up the prices there.

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Agreed

The mega rich buy up central London , displacing the rich into the bit just outside the centre who displace the comfortable to the next bit out and this creates a ripple effect outwards. Even the doddgy parts of east london have got expensive beyound the people who used to have to move to them when they were FTB's. These FTB's and others have been displaced into Essex putting up the prices there.

I'd hazzard a guess that BTL has had a much greater impact on the affordability of houses for FTB's than has the arrival of rich foreign nationals, especially so outside of the M25.

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I'd hazzard a guess that BTL has had a much greater impact on the affordability of houses for FTB's than has the arrival of rich foreign nationals, especially so outside of the M25.

The fact that prices were rising encouraged the BTL brigade to buy houses where rents didn't even cover financing costs because they were going to keep on enjoying capital gains forever because of the influx of rich people into prime London.

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I'd hazzard a guess that BTL has had a much greater impact on the affordability of houses for FTB's than has the arrival of rich foreign nationals, especially so outside of the M25.

Don't know ,

I do remember an Estate agent in East London telling me about five years back that most of the purchasers were now people priced out of west and central London, I asked him where us East enders go as we could not afford east london any more and his answer was Essex. I now live in Essex myself and it is full of ex eastenders.

20 years ago if you lived in East london and got to Essex it was know as having made it , Essex was more expensive than East London now it is a case of people being forced out into Essex which is now a lot cheaper than East London , but still expensive to what it was .

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Don't know ,

I do remember an Estate agent in East London telling me about five years back that most of the purchasers were now people priced out of west and central London, I asked him where us East enders go as we could not afford east london any more and his answer was Essex. I now live in Essex myself and it is full of ex eastenders.

20 years ago if you lived in East london and got to Essex it was know as having made it , Essex was more expensive than East London now it is a case of people being forced out into Essex which is now a lot cheaper than East London , but still expensive to what it was .

It is all about how much less housing costs for that extra stop or two on the tube or train.

As prices rose, people got pushed further and further out from work at a terrible cost to their quality of life.

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Whats so fantastic about it, other than being chock full of other billionaires making you feel 'average' (unless they want to feel normal/average)

Still have to put up with shitty traffic, unless they drive a bus. Still have to put up with knife wielding jamals, Still have to put up with miserable weather. Still have to put up with dirty air.

Id go to LA, amazing mountains, even skiing within driving distance, pacific ocean nearby. Sunny most the year.

I'd guess that most billionaires get chauffered around. Traffic is a non-issue, they carry on doing business while in the limo :)

And St Moritz is a short hop away with the private jet.

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I'd guess that most billionaires get chauffered around. Traffic is a non-issue, they carry on doing business while in the limo :)

And St Moritz is a short hop away with the private jet.

Apparantly the very wealthy Arabs that come to London for August fly their own cars in for the month.

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I'd guess that most billionaires get chauffered around. Traffic is a non-issue, they carry on doing business while in the limo :)

And St Moritz is a short hop away with the private jet.

Most really, really rich people don't actually work.

The rentiers have it sorted at the moment but I wonder whether their situation is sustainable in perpetuity.

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Whats so fantastic about it, other than being chock full of other billionaires making you feel 'average' (unless they want to feel normal/average)

Still have to put up with shitty traffic, unless they drive a bus. Still have to put up with knife wielding jamals, Still have to put up with miserable weather. Still have to put up with dirty air.

Id go to LA, amazing mountains, even skiing within driving distance, pacific ocean nearby. Sunny most the year.

I have lived in a few parts of the US( Including Ca) and I must admit that San Diego appeals to me more than LA. As you say, Big Bear is nearby but TBH I wouldn't move from Little Rhody (RI). My son is in colorado and love going there-have lived in Salt Lake and liked that as well. Hey the US is superb-the critics can kiss my white ass, I aint comin back to Blighty.

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I was chatting with a loaded Nigerian buddie about this a year or so ago.

I asked him what he thought was the safest real estate market in the world.

"London," he replied without hesitation.

"What about Vancouver?" I asked.

"New kids on the block," he replied and this is a guy who has lived in Toronto for a few years. "London has been solid for 400 years. The place has legs."

That was his view and I don't think he's alone.

I used to curse the Yanks (my wife included) who think that the UK is just London. You lot on here are as bad. As a proud Manc London can kiss my ass as well. Let the Arabs/Russians take you over-most of the greed that has destroyed my country originated there. As far as I am concerned it's a foreign country. It's not the typical UK-that's for sure.

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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