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Tired of Waiting

Data About Foreigners Buying Prime London Properties

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Some data about foreigners buying "prime" London properties, according to Savills...

(Though I am not sure if their data is reliable. It could be bull's propaganda. )

Edit: "£3.3 billion of foreign cash now being spent annually on prime London homes; another £400 million is being lavished on new properties."

Edit 2: The Times' article does not define "prime".

Housing__2__167969a.jpg

Edited by Tired of Waiting

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Why aren't there calls in London to put an end to this nonsense. There must be tens of thousands who cannot afford a home there.

Surely you can't be serious?

The city of London is a nation onto itself, which is ripe for the pickings of the international jetset, for duration of the Olympics...

Edited by cashinmattress

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This recent London property boom will end when the Olympic flame is turned off.

London prices have been defying logic for a looong time. This thing about foreign oney may explain it.

Is it a bad investment? Of course it is. But where else can they invest? The whole world has gone bonkers! Gold? Shares? Commodities? It is bubbles bubbles everywhere! :blink:

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Something to with a free market?

A capitalist this or thart?

Another consequence of this gigantic, historical, disastrous credit bubble, as you know, inflated throughout this past decade, mainly thanks to Greenspan and Brown, as you also know.

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Why aren't there calls in London to put an end to this nonsense. There must be tens of thousands who cannot afford a home there.

This foreigners are buying prime London, multi-million pounds properties. They are not exactly pushing working families out of their homes.

And they are bringing "£3.3 billion of foreign cash now being spent annually on prime London homes; another £400 million is being lavished on new properties."

But these sales do distort the indexes. That is my concern.

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So apparently the Chinese aren't actually buying up London then...

Wealthy Chinese are squeezing cash-strapped Britons out of property market

You'd think the VIs would co-ordinate their propaganda a little better, wouldn't you :rolleyes:

Yeah, saw that... :rolleyes: That is the Daily Mail angle. The Times lists Italians and Scandinavians at the top of the list. But the Mail prefers to use data about new-built properties (around 10% of the total market), where the dangerous Chinese :ph34r: came on top...

The Mail is just sick.

.

Edited by Tired of Waiting

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This foreigners are buying prime London, multi-million pounds properties. They are not exactly pushing working families out of their homes.

And they are bringing "£3.3 billion of foreign cash now being spent annually on prime London homes; another £400 million is being lavished on new properties."

But these sales do distort the indexes. That is my concern.

I don't think you are reading the Savills illustration correctly. When they buy central London property then this money doesn't all stay in central London. It migrates out to the outer areas and eventually some of it finds it's way out 'to outer suburbs or country'. So, it does have an effect on working families who want to buy homes in London and to a smaller degree......even further afield in the 'country'.

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If your not from the UK, the Uk is a tax haven... a really nice tax haven with good world transport links,cheap prices, a sensible position in global time, and civilisation. If you make your money offshore you can live in the Uk and only pay a 30k PA charge, a small price to pay for many. The other tax havens arent transport hubs, london is a big hub with direct flights out to europe, US and beyond, the world is your oyster, and your wealth isnt eroded, and if you have businesses in other countries you can live off them and avoid lots of tax (as long as your Non-Dom)

http://www.hsbcpb.co...-explained.html

Edited by AteMoose

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Some data about foreigners buying prime London properties, according to Savills...

(Though I am not sure if their data is reliable. It could be bull's propaganda.)

Housing__2__167969a.jpg

Ha ha. Surely you have just shot yourself in the foot here.

I remember you saying on another thread that immigration had no impact whatsoever on UK house prices. Now you have just posted concrete evidence completely destroying your original views.

Fact: if it wasn't for all these foreign buyers, then prices in London would be dropping like a stone.

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I don't think you are reading the Savills illustration correctly. When they buy central London property then this money doesn't all stay in central London. It migrates out to the outer areas and eventually some of it finds it's way out 'to outer suburbs or country'. So, it does have an effect on working families who want to buy homes in London and to a smaller degree......even further afield in the 'country'.

Calm down, £3billion/year it is probably around 1% of the UK property market, or 2 or 3% of the London total market. Sure there is some trickle-down, but it won't be enough to push people out of London, much less out of the country! Just keep things into perspective, please.

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If your not from the UK, the Uk is a tax haven... a really nice tax haven with good world transport links,cheap prices, a sensible position in global time, and civilisation. If you make your money offshore you can live in the Uk and only pay a 30k PA charge, a small price to pay for many. The other tax havens arent transport hubs, london is a big hub with direct flights out to europe, US and beyond, the world is your oyster, and your wealth isnt eroded, and if you have businesses in other countries you can live off them and avoid lots of tax (as long as your Non-Dom)

http://www.hsbcpb.co...-explained.html

+ 1

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Calm down, £3billion/year it is probably around 1% of the UK property market, or 2 or 3% of the London total market. Sure there is some trickle-down, but it won't be enough to push people out of London, much less out of the country! Just keep things into perspective, please.

Well it's currently making up over 30% of prime London purchases. Doesn't this money then get multiplied many times then in mortgage situations?

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Ha ha. Surely you have just shot yourself in the foot here.

I remember you saying on another thread that immigration had no impact whatsoever on UK house prices. Now you have just posted concrete evidence completely destroying your original views.

Fact: if it wasn't for all these foreign buyers, then prices in London would be dropping like a stone.

Oh jeeez, not immigration again. < sigh > Can't you snap out of this single issue obsession?? FGS!

So this chart proves that we have a "flood of poor uneducated Somalian immigrants taking our jobs and living on benefits and now also buying prime London for £4million pounds plus."

I've always said that Immigration is a minor factor, much ado about very little. And the numbers I posted before - in other threads - show that. But please let's keep those arguments in those other threads. Just do snap out of this single obsessive issue.

Here I am talking about rich foreign investors buying prime London and perhaps distorting the index upwards.

Focus please. And sensibility. ;)

Edited by Tired of Waiting

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Well it's currently making up over 30% of prime London purchases. Doesn't this money then get multiplied many times then in mortgage situations?

Well it is currently making up 100% of properties bought by foreigners!

Does that make the total amount even bigger?? :unsure:

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Well it is currently making up 100% of properties bought by foreigners!

Does that make the total amount even bigger?? :unsure:

You've lost me now. :blink:

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Some data about foreigners buying prime London properties, according to Savills...

(Though I am not sure if their data is reliable. It could be bull's propaganda.)

Housing__2__167969a.jpg

interesting, but some of those numbers are not especially large...

i mean, why bother to show £0.01bn? aka £10m. aka fewer than ten 'prime' London houses... even £0.1bn is fewer than 100 prime London houses... so perhaps about one street... in a city of 8m people this doesn't feel to me like an epoch-defining migration... and if it is then it shows how few of these superhyped pwoperdees actually change hands every year...

Edited by the flying pig

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interesting, but some of those numbers are not especially large...

i mean, why bother to show £0.01bn? aka £10m. aka fewer than ten 'prime' London houses... even £0.1bn is fewer than 100 prime London houses... so perhaps about one street... in a city of 8m people this doesn't feel to me like an epoch-defining migration... and if it is then it shows how few of these superhyped pwoperdees actually change hands every year...

Yes, good points, I agree.

I think this "data" includes some spin by Savills.

( And thanks for bringing the discussion back on topic.)

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interesting, but some of those numbers are not especially large...

You can show anything you want with charts.. interesting how anything demonstrating chronological trends is qualitative not quantitative.

All it suggests to me is that transactions formed from domestic demand have plummeted, while transactions originating abroad have increased marginally.. possibly even relatively.

We really need quantitative data covering 2007 through 2011 to make sense of the information presented. Which is probably why we don't get it..

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You can show anything you want with charts.. interesting how anything demonstrating chronological trends is qualitative not quantitative.

All it suggests to me is that transactions formed from domestic demand have plummeted, while transactions originating abroad have increased marginally.. possibly even relatively.

We really need quantitative data covering 2007 through 2011 to make sense of the information presented. Which is probably why we don't get it..

True. I've found this in the same Times article:

"£3.3 billion of foreign cash now being spent annually on prime London homes; another £400 million is being lavished on new properties."

I'll add it to the OP.

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Infact.. the data is almost completely consistent with the general decreasing trend in leveraged purchasers to cash buyers since mortgage demand dropped.

Given that most foreigners will be cash buyers, this information is entirely unastounding IMO.

_52299333_property_cash_sales_464gr.gif

Edited by libspero

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Infact.. the data is almost completely consistent with the general decreasing trend in leveraged purchasers to cash buyers since mortgage demand dropped.

Given that most foreigners will be cash buyers, this information is entirely unastounding IMO.

What do you mean by "almost completely consistent"?

Edited by Tired of Waiting

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  • 285 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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