Reply to: Cash Buyers from London

[NigelJK]

Although Private Eye is currently on the case of one scheme in Liverpool whereby the 'investor' looks sham.

[SueEllen]

There was an article on Midlands Today (aka what's happened in Birmingham as nowhere else in the Midlands exists) that proudly boasted of the amount of Chinese investing in Birmingham.

I just think they got on the wrong plane and ended up there instead.

Still, you wouldn't have to travel oop North to go the Brum....

They are deliberately moving outside London because it's cheaper and it is easier to hide. They are also "investing" in Northern UK cities.

[Dearnla]

I've heard the same but really can't be arsed travelling up North.

There was an article on Midlands Today (aka what's happened in Birmingham as nowhere else in the Midlands exists) that proudly boasted of the amount of Chinese investing in Birmingham.

I just think they got on the wrong plane and ended up there instead.

Still, you wouldn't have to travel oop North to go the Brum....

[redgiant]

this has been happening for the last few years, i have family in San Francisco one is in Real Estate, had a lot of Chinese buyers, buying up property and loss making vineyards @ 10% over asking (talking $30m+)

others work in airport customs and were confiscating $400k in cash from Chinese tourists who didn't even want the money back

there was a bbc business daily podcast last week talking about China's capital flight, interesting listen

Here it is - BBC World Service - Business Daily, China's Capital Flight featuring a professional money mule

Lots of Chinese buyers here in the NYC area when I have been looking around.

[filthy1980]

Filthy,

how many families do you have ?

Milan.

including / excluding your kids?

[d000hg]

You're not welcome round here anyway with your stupid fecking beards and your uppity women.

You can't grow a beard either? It's OK, just accept it and move on.

If you'd like to direct the rich Londoners to have a bidding war over the house I'm trying to sell in Cornwall then feel free

[Pip in a Poke]

wot?

[vetran]

Filthy,

how many families do you have ?

Milan.

his dad had a bike

[ChimpMaster]

Ah, but - I hear Manchester is the new London. Don't tell anyone.

I've heard the same but really can't be arsed travelling up North.

[milanbenes]

this has been happening for the last few years, i have family in San Francisco one is in Real Estate, had a lot of Chinese buyers, buying up property and loss making vineyards @ 10% over asking (talking $30m+)

others work in airport customs and were confiscating $400k in cash from Chinese touristswho didn't even want the money back

there was a bbc business daily podcast last week talking about China's capital flight, interesting listen

Filthy,

how many families do you have ?

Milan.

[scooterscot]

Not long spent €30k on my rented property. Them London lot sound like tight gits.

[Fred Bloggs]

Ah, but - I hear Manchester is the new London. Don't tell anyone.

[PurpleGorilla]

Then the ex-Londoner's move out here and push up prices with their big pot of unicorn piss.

[filthy1980]

I was watching some documentary last night. Apparently the UK is third on the list of Chinese buyers buying property abroad after the US and Australia.

However they now don't want to buy in London as the Chinese government is going around arresting people they find who have smuggled money out abroad.

The Chinese aren't allowed to take enough money to buy a property in a tulip place in the UK out in a year so if they can purchase multi-million pound properties with cash they are up to no good.

this has been happening for the last few years, i have family in San Francisco one is in Real Estate, had a lot of Chinese buyers, buying up property and loss making vineyards @ 10% over asking (talking $30m+)

others work in airport customs and were confiscating $400k in cash from Chinese touristswho didn't even want the money back

there was a bbc business daily podcast last week talking about China's capital flight, interesting listen

[SueEllen]

I was watching some documentary last night. Apparently the UK is third on the list of Chinese buyers buying property abroad after the US and Australia.

However they now don't want to buy in London as the Chinese government is going around arresting people they find who have smuggled money out abroad.

The Chinese aren't allowed to take enough money to buy a property in a tulip place in the UK out in a year so if they can purchase multi-million pound properties with cash they are up to no good.