4 ms·
> so many properties in major cities are purchased by foreign investors and left empty This is a bit of a popular myth. Vancouver is the only city i know of wh
by twic 6y ago
> so many properties in major cities are purchased by foreign investors and left empty
This is a bit of a popular myth. Vancouver is the only city i know of where it even approaches being significant. Try to dig up some statistics on empty properties for some cities that matter to you and you'll see.
- kjakm 6y agoThere are about 25,000 unoccupied properties in London, UK worth about £11 billion.
- twic 6y agoThat's all homes empty for any reason, not just "purchased by foreign investors and left empty", which is what i'm talking about. It's still a tiny number compared to the size of the city. Here's a report, covering England but with some extra detail on London, from 2019: https://www.actiononemptyhomes.org/Handlers/Download.ashx?IDMF=68fa9a2d-83f5-4ca4-936b-a8d8248484c0 https://www.actiononemptyhomes.org/Handlers/Download.ashx?ID... Table 5 tells us that in London, there were a grand total of 2126 empty homes in council tax bands G and H, ie the kind of property an investor might buy. The vast majority of empty homes are not offshore investment material.