alva
Joined 12 years ago
Joined 12 years ago
Tens of thousands of flats have been built almost entirely funded by foreign investment. If/once the market collapses on whatever time frame, London now has significantly increased housing stock almost entirely on the back of foreign money (whilst providing income for local builders and suppliers). Already foreign owners are taking huge losses on their investment and I expect this to drop even further. If price drop to a reasonable level for your average Londoner, this will be a great win.
On a side note, that entire development is an architectural disgrace and as you note, for the time being a ghost town, parking dodgy money from abroad.
Can you explain why? All the bananas in my UK supermarket are flown from Africa.
> minimise use of cars and planes