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Is Prime Central London about to go Super Crashy Crashy ?


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Measures to expose dirty money stashed in UK property fast-tracked to target Russian oligarchs

https://news.sky.com/story/measures-to-expose-dirty-money-stashed-in-uk-property-fast-tracked-to-target-russian-oligarchs-12552059

This is definitely gaining traction. Prime Central London go Super Crashy Crashy!!! Dah!?

Also, I'm sure already mentioned on other threads, but the amount of donations the Conservatives have gotten from dodgy Russian money is also gaining traction. But I guess this also explains why the Conservatives have been so slow/reluctant to really do anything about it? But the pressure is on now it seems.

Will the Tories give their Russian donor freinds time to sell their properties? Probably.

#ToryRussianMoney is trending atm

https://twitter.com/search?q=%23ToryRussianMoney&src=trend_click&vertical=trends

 

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9 minutes ago, shlomo said:

I predict most Russian Oligarchs will be in Dubai in hiding within the next 2 months 

In which case will the (notoriously bumpy) Dubai housing market go sky high? 

Bearing in mind many areas foreigners CANNOT buy, it’s reserved for Emeratis.

Edited by PeanutButter
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2 minutes ago, PeanutButter said:

In which case will the (notoriously bumpy) Dubai housing market go sky high? 

Bearing in mind many areas foreigners CANNOT buy, it’s reserved for Emeratis.

I think oligarchs are going to be scrutinised as much as a potential al-quadi member, where is your money from, are you pro or anti Putin 

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4 minutes ago, PeanutButter said:

In which case will the (notoriously bumpy) Dubai housing market go sky high? 

Bearing in mind many areas foreigners CANNOT buy, it’s reserved for Emeratis.

https://u.ae/en/information-and-services/moving-to-the-uae/expatriates-buying-a-property-in-the-uae

Buying property in Dubai

In Dubai, foreign ownership is permitted in areas designated as freehold. Foreigners (who don’t live in the UAE) and expatriate residents may acquire freehold ownership rights over property without restriction, usufruct rights, or leasehold rights for up to 99 years.

 

But even prices do sky rocket in Dubai, who cares? 

You sound worried @PeanutButter? Lots of properties in PC London by any chance? 

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1 minute ago, highcontrast said:

https://u.ae/en/information-and-services/moving-to-the-uae/expatriates-buying-a-property-in-the-uae

Buying property in Dubai

In Dubai, foreign ownership is permitted in areas designated as freehold. Foreigners (who don’t live in the UAE) and expatriate residents may acquire freehold ownership rights over property without restriction, usufruct rights, or leasehold rights for up to 99 years.

 

But even prices do sky rocket in Dubai, who cares? 

You sound worried @PeanutButter? Lots of properties in PC London by any chance? 

Sigh. I am but a lowly common worker, who by happenstance, has some rental properties. 

I don’t worry much about anything, by dint of my meagre brain not functioning at the required clock speed for such. l was in Dubai last year, and learned about the restricted purchase zones. 

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25 minutes ago, PeanutButter said:

Sigh. I am but a lowly common worker, who by happenstance, has some rental properties. 

I don’t worry much about anything, by dint of my meagre brain not functioning at the required clock speed for such. l was in Dubai last year, and learned about the restricted purchase zones. 

How many (meagre) properties do you own?

@longgonewill get jealous if it is more than one

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I love this idea that if you got rid of the Russian oligarchs there would be no foreign ownership of land and property in London. There is lots of global dodgy money being stored in London high end prime real estate - it would just mean a bit less competition. 

In terms of commercial property there is huge foreign ownership of high profile land and property.

The whole area from London Bridge to Tower Bridge on the south bank is owned by a Kuwaiti company.

The Shard and the vast majority of the housing in the Olympic park is owned - as freeholder - by Qatar

The Chinese own much of the land in the Royal Docks - given the developments there and

The Malaysians own the Battersea Power station site - they of course with government support seem to have made more of a success of it than the Irish firm which owned it before.

And more.

China's LGBT policies are pretty oppressive and its treatment of its ethnic minorities is appalling, in Malaysia and Kuwait being a gay man could see you put in jail (a policy which is actively deployed) and in Qatar - which as we know effectively uses slave labour - the death penalty remains on the statute books for gay men.

There will be plenty of dodgy cash still looking for a home in London - as has been increasingly the case since the late 1990s. And our politicians and wider elite will just look the other way - as long as it boosts land and house prices who cares!

Edited by MARTINX9
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5 minutes ago, MARTINX9 said:

There will be plenty of dodgy cash still looking for a home in London - as has been increasingly the case since the late 1990s. And our politicians and wider elite will just look the other way - as long as it boosts land and house prices who cares!

Someone recently described London to me as an International Hub. It attracts huge amounts of money to be kept in a safe place and enjoys many freedoms not available in many of the countries the money comes from. 

As you say it boosts land and house values , great for those who own anything in the capital. 

The problem we now face is the average person cannot compete for space and a roof over the head. Even above average earners are priced out. A relative who has just retired from a famous Hospital in London told me they struggle to hire doctors due to the cost of housing refereeing to a consultant who bought an ex council flat. Nothing wrong with an ex council flat but if the consultant buys it where does the Postman, Bus driver, Nurse and others live. 

The cloud I do see on the horizon is all the new build ( so called luxury apartments) bought on HTB by people who will struggle once their 5 year interest free period on the 40% expires and having to pay the interest on this extra couple of hundred thousand. 

It really is one big mess. 

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4 hours ago, byron78 said:

If Russia is sanctioned properly the UK property market will crash. I've been told this by a few very close to key Tories now (and I believe them).

https://www.theguardian.com/world/2022/feb/28/tensions-rise-at-the-3bn-surrey-estate-russian-oligarchs-call-home

i have been in there a few times.  first was about 2008 the security was lacking they would pretty much open the gate for anyone. last year was much harder, it has been improved since the Russian guy was found dead in the street. 

Its a weird strange place average old detached houses between super mansions with columns like the white house, all wrapped up in an American feeling place.   

fosseways-main.jpg

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23 minutes ago, longgone said:

i have been in there a few times.  first was about 2008 the security was lacking they would pretty much open the gate for anyone. last year was much harder, it has been improved since the Russian guy was found dead in the street. 

Its a weird strange place average old detached houses between super mansions with columns like the white house, all wrapped up in an American feeling place.   

I think that area is weird because they don't seem to bother making pavements, everyone just drives. Also the lack of (until recently) decent eateries. At least Cobham has a Gail's now, about time.

My nephew went to a school there and still works in the area. 

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5 minutes ago, PeanutButter said:

I think that area is weird because they don't seem to bother making pavements, everyone just drives. Also the lack of (until recently) decent eateries. At least Cobham has a Gail's now, about time.

My nephew went to a school there and still works in the area. 

The estate yes no pavements. honestly if i had the money i still would not live there it is horrible, Weybridge town is lacking. Cobham not much better out the lot Esher is nicer.

The day i pay £4 for a loaf of bread 🤣 Putin will be 100.

its even more here. https://oleandsteen.co.uk/stores  i guess you need to pay for nice things though 😂

 

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10 minutes ago, longgone said:

The estate yes no pavements. honestly if i had the money i still would not live there it is horrible, Weybridge town is lacking. Cobham not much better out the lot Esher is nicer.

The day i pay £4 for a loaf of bread 🤣 Putin will be 100.

its even more here. https://oleandsteen.co.uk/stores  i guess you need to pay for nice things though 😂

 

Rich people are just as unhappy as the rest of us. But they have better bread.

Back to original question of the thread, I think if dirty money knew that London was tightening up there might be a dampening effect on stupid prices. 

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16 minutes ago, PeanutButter said:

Rich people are just as unhappy as the rest of us. But they have better bread.

Back to original question of the thread, I think if dirty money knew that London was tightening up there might be a dampening effect on stupid prices. 

whatever happens, is there enough "other" money to flow in to pickup these houses the Russians sell up, or will they just leave them all empty. i have a feeling London will never be the same place for them after this.  some are scared to show their accent in public already. 

 

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