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I live in London. The main reason for this is that government generally doesn't allow buildings higher than 3 stories. Everyone wants to live in central London
by Findeton 7y ago
I live in London. The main reason for this is that government generally doesn't allow buildings higher than 3 stories. Everyone wants to live in central London but there just ain't enough flats. This situation is somewhat similar to the zoning thing in the US. Supply is lower than demand, so prices go up, who would have guessed?
- pjc50 7y ago> generally doesn't allow buildings higher than 3 stories. This seems a strange claim in the city that has the Shard. I doubt London is really constrained by planning permission, just that it seems only to be granted for hyper-luxury flats.
- Findeton 7y agoYou doubt, but it's the reality. Sure, if you're going to build $600 million in a sky-scrapper you can also spend some more in convincing authorities to get you the legal permissions. But if you're going to try and build a 4 or 6 floors building, that's going to be complicated.
- deleted 7y ago[deleted]