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longgone

first chinese now an indian takeaway

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9 hours ago, longgone said:

Its less if they are welcome, and more whether their home banks will lend them the money to speculate.

Both China and India have slammed he door shut on bank lending.

Article is  more wishful thinking.

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There's clearly some substance to it. Thanks to sterling's decline, London still remains a draw for the One Percenters and their courtiers. I expect the mood will sour next year when the Great Recession returns.

Quote

International buyers are still aiming to pump as much as £40 billion into central London property despite the shadow of Brexit and new taxes hanging over the capital, experts said on Monday.

Bullish commercial property agents said the majority of demand for West End and City buildings is from overseas funds, including Asia and the Middle East. There is also a queue of private investors from China, Europe and the UK.

Plans to invest come despite fears that Britain’s vote to leave the bloc has forced some businesses to delay office move decisions.

There are also concerns about plans revealed in last month’s budget to force overseas investors to pay capital gains tax in the UK on commercial property. 

Data compiled for the Standard by agent Cushman & Wakefield shows that year-to-date sales of office and retail property in the City and West End have reached £16.37 billion.

In addition, there are a number of deals in lawyers’ hands and due to complete imminently, “which means full-year sales will comfortably surpass the total £16.96 billion spent in 2016”, according to Cushman & Wakefield’s Fergus Keane.

He said: “Whilst the recent budget changes to commercial real estate capital gains tax have been unwelcomed by investors, in reality it does bring the UK in line with the majority of other jurisdictions, and it is expected that London’s appeal will outweigh these concerns in 2018.”

https://www.standard.co.uk/business/foreign-buyers-in-40bn-race-for-london-property-a3709571.html

 

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16 hours ago, sPinwheel said:

Wealth hoarding? So no one gets the money they paid for it? 

if there is one supermarket in the uk and everyone buys the food and the shelves are bare   does the money  restock the shelves ?

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2 hours ago, longgone said:

if there is one supermarket in the uk and everyone buys the food and the shelves are bare   does the money  restock the shelves ?

Yeah, as if everybody can afford multi million pound homes....

If that shop was selling Ferraris it wouldn't affect 99% of the shoppers.

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3 hours ago, sPinwheel said:

Yeah, as if everybody can afford multi million pound homes....

If that shop was selling Ferraris it wouldn't affect 99% of the shoppers.

Buy not to let for the rich.

Both have left the shelves bare

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  • 406 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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