Jump to content
House Price Crash Forum
Sign in to follow this  
Guest

London Needs 54K Millionaires To Buy New Flats

Recommended Posts

Guest

Interesting article form Paul Hodges...

http://www.icis.com/blogs/chemicals-and-the-economy/2015/02/54000-millionaires-needed-to-buy-new-london-apartments/

Nothing succeeds like excess’. That seems to be the motto of London property developers at the moment. According to researchers LonRes, developers are currently building or planning the staggering total of 54000 new luxury homes in central London.

These will all be offered at prices of £1m ($1.5m) and higher, according to the Financial Times. Yet just 3900 homes were sold in this price bracket in central London in 2014. So who is going to buy the vast supply of new homes?

Share this post


Link to post
Share on other sites

Im not sure I want to live in a place with 54,000 millionaires.

Besides, the only need to be postmen with a government backed 60% despoit sub prime liar loan :P

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

This is what I don't understand.

Surely the world will run out of millionaires at some point? Surely most of them already own a London flat by now?

Don't we just print new ones?

Share this post


Link to post
Share on other sites

Its about time these foreign investors got bored with London and decided they would rather own a place in New York or LA instead.

Im sure a Labour coalition with the SNP should help them see sense.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   210 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.