| Topic: | Re:Re:Re:Re:House prices in Wandsworth just keep going up | |
| Posted by: | Peter Higgins | |
| Date/Time: | 24/05/14 17:27:00 |
| As foreign investment is funding the largest part of new home building in London at the moment then if you banned foreign buyers you would get fewer new homes. Apart from delux properties in the west end foreigners are only interested in new builds. Without them developers would struggle to sell. It is a chauvinistic myth that foreigners are more likely to leave their properties vacant - parliament did a report on this recently and the void rate is about the same as for domestically owned property. Also you'd never be able to stop foreigners owning property in this country - they could get round any restrictions by setting up a UK company. Basically lots of new flats in London are being built because foreigners think they are a great investment. It you stopped foreign investment they wouldn't be built. |