Wednesday, June 14, 2017
Increasing the supply of homes for foreign investors
Foreign investors snapping up London homes suitable for first-time buyers
First time buyers are missing out as homes are bought investors from Hong Kong and Singapore at inflated prices. The mayor of London said: “international investment plays a vital role in providing developers with the certainty and finance they need to increase the supply of homes and infrastructure for Londonersâ€Â
Posted by cyril @ 07:06 AM (5768 views)
5 thoughts on “Increasing the supply of homes for foreign investors”
Add a comment
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
icarus says:
“Led by investors from Hong Kong and Singapore, foreign buyers snapped up 3,600 of London’s 28,000 newly built homes between 2014 and 2016, according to the most comprehensive survey yet of international investment in London housing. About half of those were priced for first-time buyers between £200,000 and £500,000”.
Bit of a non-story. Poor writing: in that para: does ‘half of those’ refer to the 28,000 or the 3,600? If you read on it appears to be half of the 3,600. So it seems domestic buyers ‘snapped up’ 78% of the 28,000 (28,000 / 3,600) new homes and about 1,800 FTB-priced homes were sold to foreigners. We aren’t told what % of the 28,000 is priced for FTB, so we don’t know what % of FTB-priced homes were ‘snapped up’ by foreigners.
cyril says:
I think it means that half of the 3,600 were priced for first time buyers although that is a bit of a nonsense because I doubt that many FTBs can afford £500,000.anyway!
sneaker says:
Please stand by for your next free market experience.
It’s the new freedom!
icarus says:
@3 – Grenfell?
tom101 says:
Investors from Hong Kong and Singapore whom pay no tax on their forreign investments.
I am not sure we have appreciated how trusted the UK housing ‘brand’ is abroad still