London Mp In Call To Stop Homes Being Sold Overseas

[MattW]

click

It does take a liberty when even house builders start advertising new UK built homes to foreigners before Brits!

[Anna_1980]

Wonder whether a penny is dropping....

Btw it would be nice if minimum size standard to be introduced, don't get me starting talking about the quality of rental stock....

[MattW]

Btw it would be nice if minimum size standard to be introduced

Agreed. A 21st century version of the Parker Morris Standards.

[shindigger]

Too late!!

Next.

[blackgoose]

The irony is that many of the countries in asia that have its citizens buying London properties have rules forbidding foreigners buying property in their countries.

[AvoidDebt]

What do you expect? When the locals can't afford the prices they have to shift them somewhere.

[R K]

Amusing.

Our overlords don't give a t0ss about globalisation, closing down manufacturing and outsourcing our jobs to Asia, but they get all uppity when houses in their own patch are outsourced to Asians.

#hypocrites

[pig]

Agreed. A 21st century version of the Parker Morris Standards.

Space standards HAVE been introduced in London.

[Bruce Banner]

When enough houses are owned by investors, UK and overseas, it's game over.

[billybong]

Next there'll be more calls that the UK needs to build more houses. It's completely dotty if they're just going to be sold to rich people from overseas.

[billybong]

Yolande Barnes, from Savills Research, which analyses property trends, said property developers are increasingly selling blocks of flats overseas.

She said: "Developers are targeting overseas markets because overseas purchasers are willing to buy before a scheme is completed.

"That's really important for funding a scheme that might otherwise not be built."

1, UK buyers don't mind buying before a scheme is completed if they want to buy the place and can afford it.

2. For sure it would get built but the builder and developer might have to accept a lower price than from a rich overseas buyer. Despite what they always claim for whatever they build it's doubtful that their margins are that small except by accountancy trickery.

Edited June 9, 2013 by billybong

[The Knimbies who say No]

When enough houses are owned by investors, UK and overseas, it's game over.

It's an interesting situation. We're told that some are sold to those with cash to protect, I can see that makes sense but not in the numbers seen in London. Besides, if safety was your top priority a place outside London would suffice, at a fraction of the price.

Given the yields available are so low on much of this stuff, maybe below achievalbe interest rates in the buyers' home countries, much of this must be being sold to the Sheeple of the world. I don't think the shady Oligarchs line cuts it.

Thing is, that's a lot of Sheeple lining up. How long can it go on?

Edited June 9, 2013 by cheeznbreed

[Tired of Waiting]

It's an interesting situation. We're told that some are sold to those with cash to protect, I can see that makes sense but not in the numbers seen in London. Besides, if safety was your top priority a place outside London would suffice, at a fraction of the price.

Given the yields available are so low on much of this stuff, maybe below achievalbe interest rates in the buyers' home countries, much of this must be being sold to the Sheeple of the world. I don't think the shady Oligarchs line cuts it.

Thing is, that's a lot of Sheeple lining up. How long can it go on?

+ 1

[Sir Harold m]

+ 1

For those of us who believe in a progressive LVT then surely the best precursor is to sell most of our land to people without votes .

It might be the only way to export our way out of debt

[wherebee]

For those of us who believe in a progressive LVT then surely the best precursor is to sell most of our land to people without votes .

It might be the only way to export our way out of debt

I have wondered whether that is a cunning plan of UK pollies.

Then I remember that they do not plan long term - it's all short term money taking by most of them :angry:

[Billy soy]

So this is how they keep the plates spinning forever then, BTL goes international.

Maybe this time it really is different.

[The Knimbies who say No]

So this is how they keep the plates spinning forever then, BTL goes international.

Maybe this time it really is different.

Nah, at the end of the day the available yields do not make this BTL really, it's just a play on asset prices. Which ought to mean that if/when it becomes apparent that prices have topped or are in reverse, it might be dumped en masse.Who knows when that will be though.

[Orsino]

Nah, at the end of the day the available yields do not make this BTL really, it's just a play on asset prices.

There's the currency play as well. I wish I was paid in Swiss Francs and spending in Sterling.

Edited June 9, 2013 by Orsino