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In London there are tens of thousands of new build properties which have been built through Chinese investment. Currently unaffordable to most (£1m plus for a
by alva 10y ago
In London there are tens of thousands of new build properties which have been built through Chinese investment. Currently unaffordable to most (£1m plus for a 1 bed) and so rather unpopular with Londoners. Many developments are 50%+ sold in China before they are advertised in the UK. however I am beginning to think the Gov may having been playing a clever long game.
Massive outflows from China the last couple of years. Encourage funds into the UK, mostly London, property market. Build huge number of new homes with Chinese money. Once (hopefully) the market crashes, glut of thousands of relatively affordable properties become available.
I am not sure whether this was purposeful, however I have stopped complaining about foreign funded real estate investment here as it will be extremely fruitful if the bubble pops. Unfortunately for those in the states mentioned, it seems the money isn't going into building new properties, but inflating a low and severely restricted stock.