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"In prime locations for wealthy foreign investors, such as the affluent boroughs of Chelsea and Kensington in the city of London, the number of vacant units inc
by orasis 9y ago
"In prime locations for wealthy foreign investors, such as the affluent boroughs of Chelsea and Kensington in the city of London, the number of vacant units increased by 40% between 2013 and 2014."
How much of this is vacant vs AirBnB units? In heavily regulated markets a lot of owners will under-report that they're being used for AirBnB.
- Element_ 9y agoI believe the average price of a semi in Chelsea and Kensington is something like 6 million Euros or 40x local median income. These properties aren't for Airbnb they are for rich foreigners who need to park their money outside their governments reach.