Why are we building flats for foreigners?

grizzly1911

Who would really want to spend that sort of money to buy in Stratford, it is stretching the London tag somewhat.

Wonder if they will inviting investors over like the Spanish time shares, to wow them with the sunshine and glorious surroundings? Perhaps not.

Loughton_Monkey

Graham_Devon wrote: »

Or not.

If this took off in a big way it would just mean an evern higher benefit bill, and that's already rising at it's fastest rate on record. Apparently, if it stays on the trend it's on, housing benefit alone will eat up the entire income tax take today in approx 20 years time (according to the beeb)

Do Malaysians qualify for housing benefit when they are not resident here? These are investments for foreign residents, who will provide competition to UK landlords. I would have thought you would applaud that.

leveller2911

grizzly1911 wrote: »

Who would really want to spend that sort of money to buy in Stratford, it is stretching the London tag somewhat.


Just over the border in Kent lies Lydd airport.Its very small and generally used by Cesna sized aricraft. The new owners have plans and as I drove past it the other week the sign read" London Lydd airport".... London is around 65 miles away..

Its the same for Gatwick ,its no where near London.I sometimes wish someone would Nuke London so the reat of us can have an identity.

Graham_Devon

Loughton_Monkey wrote: »

Do Malaysians qualify for housing benefit when they are not resident here? These are investments for foreign residents, who will provide competition to UK landlords. I would have thought you would applaud that.

I fear you have missed the point...

There is a housing crisis already in this country. Selling the houses that are built "in a big way" like you suggested is only going to make the crisis worse and therefore increase the price of existing proprties even further.

That in turn increases the housing benefit bill as more and more people require it.

Proof? It's happening right now and has been for a while. The amount of people on housing benefit has near doubled since 2009 alone.

Since 2003, the amount actually spent on housing benefit has more than doubled.

The more that's built and sold off to foreigners, the higher the benefit claimant number will be and higher the bill will be. It's certainly not a land to riches as you make out. It's just a race to the bottom.

wotsthat

Graham_Devon wrote: »

The more that's built and sold off to foreigners, the higher the benefit claimant number will be and higher the bill will be. It's certainly not a land to riches as you make out. It's just a race to the bottom.

The Malaysians interviewed on Channel 4 weren't planning on moving in but renting them out.

JencParker

It's only to be expected by those who think only of financial gain. Other countries do put restrictions on selling property to foreigners, but not his country, why should they when their main (and largely only) priority is short term profit for the few.

wotsthat

JencParker wrote: »

It's only to be expected by those who think only of financial gain. Other countries do put restrictions on selling property to foreigners, but not his country, why should they when their main (and largely only) priority is short term profit for the few.

If the profit is quick and easy why don't you invest in London rentals and donate the gains to charity?

Moby

=chucky;63256420]I'm not sure what your complaint is, that they're selling the properties abroad or that their is no social housing.

Galliard are a private business. It is up to them which country and where they
should sell their product to.

Only if we allow them to. We should regulate the business practices of these companies

Not sure why it's the fault of Boris either.

Of course it is ..he's encouraging it!

Moby

chucky wrote: »

That's what happens in a market place people buy or rent what is within their price bracket.

So where in London do people working for less than the minimum wage there find accommodation?

ILW

wotsthat wrote: »

If the profit is quick and easy why don't you invest in London rentals and donate the gains to charity?

Think that be be the point. This type of investment is not available to the vast majority. But the vast majority end up paying increased rents.