The boom in luxury real estate is fuelling the housing crisis and ripping communities apart, says UN envoy Leilani FarhaThe United Nations housing envoy, Leilani Farha, is in the marketing suite next to the Canaletto building. It’s an unlovely, bulked-up, look-at-me 31-storey luxury apartment block towering over a canal basin on the once down-at-heel border of Islington and Shoreditch in east London. How much does it cost to buy a home here, asks Farha. The sales assistant replies that a three-bed flat would set her back over £3m. Related: London set for more than 35,000 new luxury homes in next decade Continue reading…
Source : theguardian.com
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