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London House Prices Surpass 500,000 Pounds for the First Time

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  • Andy2
    replied
    Originally posted by GigiBronz View Post
    ..

    My questions is... who pays for all those empty properties? How does this work?
    How do they afford to keep them empty and are not concerned about the market...?
    many investment companies and pension funds own lot of properties

    Leave a comment:


  • GigiBronz
    replied
    Originally posted by GhostofTarbera View Post
    I live 10 min walk from CW is a posh gated 24hr Secuity (private swimming pool, snooker club etc)

    Car park is ghost town, looks like 50% capacity, everyone is moving out as no longer need to go into the office for life

    3k rentals are not £1800 rentals a month

    Look forward for going for a beer with you [emoji4]

    You can get a CW hotel for £30 a night at the moment why would you want to rent
    That's why I am here for... the discount. Can't seem to be able to access it though...

    I am looking with a friend for something more modest, 2/3 bed 2 bath and fair size.
    It's slightly better in terms of quality than other areas of London and with the discount for now it makes more sense.
    I've been trying to rent on my own but difficult to prove income as unemployed for quite a few months now... probably everyone has seen my rants around here. So would be sharing for now and waiting for things to pick-up.

    Our budget is 1600, we can up it slightly but everything we have found for now is a bit trash.
    One had underfloor heating which was not working (which the LL avoided saying) and the LL was trying to convince us that it is very cosy the property and it does not need any heating. I probably look gullible but I am not that...
    He was asking £1750, it's 12th floor in one of the towers lower than CW, we offered £1500, he said no and we left it there.

    Sure, we should definitely go for a beer. I have a sense that we'll see a lot of each other in the local bars.

    Leave a comment:


  • SueEllen
    replied
    Originally posted by ladymuck View Post
    I don't think it is that (not wholly, anyway). I believe, based on something a friend who had a Chinese colleague told me, it's more cultural.
    A former Chinese colleague of mine was shocked when I said in London older properties had more value. She explained to me that anything more than about 60 years is bulldozed and rebuilt as no-one who is Chinese wants such an old property.

    Leave a comment:


  • GhostofTarbera
    replied
    London House Prices Surpass 500,000 Pounds for the First Time

    I live 10 min walk from CW is a posh gated 24hr Secuity (private swimming pool, snooker club etc)

    Car park is ghost town, looks like 50% capacity, everyone is moving out as no longer need to go into the office for life

    3k rentals are not £1800 rentals a month

    Look forward for going for a beer with you [emoji4]

    You can get a CW hotel for £30 a night at the moment why would you want to rent


    Sent from my iPhone using Contractor UK Forum
    Last edited by GhostofTarbera; 20 January 2021, 20:10.

    Leave a comment:


  • BR14
    replied
    Originally posted by AtW View Post
    It’s investors who bought it without visiting and can’t sell now because only an idiot would want to live in a bedsit above a kebab shop.

    Any dwelling less than 100 sq meters should not be allowed for residential purposes
    ...

    Leave a comment:


  • AtW
    replied
    Chinese buy tulipcoins now to get money out

    Leave a comment:


  • vetran
    replied
    Originally posted by GigiBronz View Post
    Claiming losses every year what they could have earned in rent?

    They believe the value is greater if the properties are new.

    FIL was an expert water pumps, he commissioned lots of them for tower buildings and he was regularly told most of the owners were Chinese and would never use the properties or only as holiday homes. There was a need to get money out of China.

    Leave a comment:


  • AtW
    replied
    It’s investors who bought it without visiting and can’t sell now because only an idiot would want to live in a tiny London high rise flat.

    Any dwelling less than 100 sq meters should not be allowed for residential purposes, that’s for single bedroom places

    Leave a comment:


  • ladymuck
    replied
    Originally posted by GigiBronz View Post
    Claiming losses every year what they could have earned in rent?
    I don't think it is that (not wholly, anyway). I believe, based on something a friend who had a Chinese colleague told me, it's more cultural.

    Leave a comment:


  • GigiBronz
    replied
    Originally posted by Mordac View Post
    I read somewhere a while back that Chinese investors were willing to pay a decent premium for a property that had never been lived in. Keeping it empty was therefore potentially more profitable than renting it.
    Claiming losses every year what they could have earned in rent?

    Leave a comment:

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