Property News · June 20, 2016

Gulf investors plan to 'buy to leave' London property, survey shows


One-in-four investors from Gulf states who intend to buy property in London do not mean to live in it, according to researchOne-in-four investors from Gulf states intending to buy property in London plan purely to gain from rising prices without living there, according to research among wealthy people seen by the Guardian. Concerns have been raised over “buy to leave” properties, which are often owned by overseas buyers who do not use them for much of the year. In May, the Guardian revealed that 184 of the 214 apartments in the luxury central London development the Tower did not have anyone registered to vote and that almost two-thirds of the properties were owned by overseas buyers. The new mayor of London, Sadiq Khan, has spoken out about buyers who use homes in the capital as “gold bricks for investment”. Continue reading…

Source : theguardian.com
Read more…Gulf investors plan to ‘buy to leave’ London property, survey shows

You may also like...