interestrateripoff Posted June 21, 2015 Share Posted June 21, 2015 http://www.bloomberg.com/news/articles/2015-06-20/singapore-buyers-desert-london-as-mortgage-rules-hit-home Singapore investors are buying fewer mansions in London after mortgage changes in the island nation limit their ability to borrow. The number of Singaporean’s buying prime homes in the capital fell 74 percent in the period from November to the end of May compared with the previous six months, according to broker Knight Frank LLP. They now make up 1.7 percent of all buyers in the city’s best districts, down from 3.8 percent in the prior period, the broker said. Homebuying from “Singapore is very low at the moment and falling off,” Rob Perrins, managing director of Berkeley Group Holdings, said in an interview June 17. Investors from the city state were the biggest overseas buyers of new homes constructed by Berkeley, London’s largest homebuilder, in 2013, Perrins said. Singapore’s government capped borrowers’ total debt repayments at 60 percent of monthly income in June 2013 as it sought to prevent a property bubble in Asia’s second-most expensive housing market. That made it harder to purchase homes overseas as international borrowings are included in the cap. An interesting move, does anyone know how this works because if interest rates went up I can imagine as a borrow on the limit you could easily venture into the 60+ side. Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 21, 2015 Share Posted June 21, 2015 I wonder what Anna White's (PhD, MBA, FRS) (bless) incisive take on this would be? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 21, 2015 Share Posted June 21, 2015 Have to ask....but WHY THE F**K ARE SINGAPORIANS BEING ALLOWED TO BUY HOUSES IN LONDON ? The only answer I can see is to make one of these: Quote Link to comment Share on other sites More sharing options...
winkie Posted June 21, 2015 Share Posted June 21, 2015 The more they throw at us the more we have of theirs to spend..... Quote Link to comment Share on other sites More sharing options...
macbeth79 Posted June 21, 2015 Share Posted June 21, 2015 Have to ask....but WHY THE F**K ARE SINGAPORIANS BEING ALLOWED TO BUY HOUSES IN LONDON ? The only answer I can see is to make one of these: Why do we give billions in benefits, who knows Quote Link to comment Share on other sites More sharing options...
winkie Posted June 21, 2015 Share Posted June 21, 2015 Singaporeans et al are paying for our benefits.....what goes around comes around. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted June 21, 2015 Share Posted June 21, 2015 They've been crowded out by the poor singers - http://www.dailymail.co.uk/tvshowbiz/article-2508733/Taylor-Swift-searches-London-pad-minutes-away-Harry-Styles-home.html Quote Link to comment Share on other sites More sharing options...
macbeth79 Posted June 21, 2015 Share Posted June 21, 2015 Singaporeans et al are paying for our benefits.....what goes around comes around. Not as far fetched as it sounds, what are we doing with all the money that the oligarchs have been bringing to London Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 21, 2015 Share Posted June 21, 2015 So, which foreign investors are still buying London? The Chinese? The Russians? The Arabs? The Americans? Seriously? The idiot English, foreigners in their own land. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 22, 2015 Share Posted June 22, 2015 Still the blase expectation of interest rate rises. Enough already. There won't be any, bar maybe the odd face save which will be reversed quickly. #TurningJapanese Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 22, 2015 Share Posted June 22, 2015 So, which foreign investors are still buying London? The Chinese? The Russians? The Arabs? The Americans? Seriously? Fewer and fewer - LR £2m+ sales down 34% y on y... (to Feb 15) Quote Link to comment Share on other sites More sharing options...
@contradevian Posted June 22, 2015 Share Posted June 22, 2015 (edited) Singaporeans buying in London. Meanwhile in Singapore 80% of housing was originally publicly owned http://www.citylab.com/housing/2015/03/how-singapore-fixed-its-affordable-housing-problem/388451/ Edited June 22, 2015 by RentierParadisio Quote Link to comment Share on other sites More sharing options...
council dweller Posted June 22, 2015 Share Posted June 22, 2015 Yes!! Council dwellers of the world unite!! Quote Link to comment Share on other sites More sharing options...
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