The Fairview homes development at Hampden Rd is being marketed to wealthy foreigners as student accommodation and would only be available for Londoners to rent. Fourteen units from the first phase have already been sold in Dubai and Hong Kong. Attached is the brochure, make your own minds up.
So the mayor's assertion that "Londoners desperately need housing" as justification for approving this monstrosity blotting the skyline was total guff then. Who'd have guessed.
Not only that but our left wing councillors approved this... Could they not have just asked that perhaps first dibs should be given to people with UK cellphone numbers?
That would be trivial to bypass https://freezvon.com/virtual-number/united-kingdom-mobile
Well OK but no effort has been made. Not even a "please could you". Doesn't it just suck that the rest of the world can invest in London residential real estate off plan ahead of Londoners and tax free?
Yep, along with Khan's desire to turn London into a tourist enclave and a destination for the mega rich is why I plan to take my desperately needed skills elsewhere.
We he appears to be doing sweet FA about it. Seems he'd rather chase tourist friendly schemes instead like pedestrianising Oxford St to make it nicer for shoppers.
The fact that they are in use is not the issue really. It's the combination of an insecure future for tenants and an impending pension crisis that will mean exorbitant rents are likely to need to be funded from them, due to ownership being out of reach.
Just a clarification really but foreign owners buying UK property now pay full tax: stamp duty when they buy, income tax on rental income, capital gains tax on a future sale, and inheritance tax on death. Owning the property via an offshore company no longer helps.
Oh, that wasn't the case in 2012-2014....
According to Sadiq less than 1% of homes bought by foreign investors are left empty. These flats will be occupied by Londoners in need of housing. They just won't be owned by them, they will be rented. I don't see what the difference is morally between a UK based "buy to let" landlord and a foreign one.
Just imagine all those cheques, written in British Pounds, flying through the sky to Hong Kong every month.
They will not be coming to Hong Kong but to BVI companies opened by mainland Chinese.
I don't see any difference between them either. They both provide insecure accomodation, drive prices up and prevent families from starting / growing.