Tuesday, May 05, 2015

Suddenly that GBP140m apartment doesn't look too clever

The Times: Russians lead cash exodus from Britain

Actually it looks downright insane:
"Investors have withdrawn $356 billion from Britain over the past 15 months amid mounting concerns about the domestic political climate and as Russian money has moved abroad after sanctions were imposed [...]"

Posted by sneaker @ 07:13 AM (1389 views)
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2 Comments

1. bidin'matime said...

I can't get into this one (not even the Google link approach), but what we see above is enough - leaving aside the fact that it's a different currency, the figure is interestingly close to the amount of cash the treasury printed a few years ago (still a lot of money, even in those US dollar thingies...)

What would be interesting to know is when this Russian money flowed in and what they are selling in order to withdraw it - if it's property, then why haven't we seen a London crash already (it would be 35,600 £10m houses - I think someone would have noticed...)

Tuesday, May 5, 2015 04:06PM Report Comment
 

2. doomwatch said...

Please can people stop linking Times articles.

Wednesday, May 6, 2015 03:25PM Report Comment
 

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