Overseas Buyers and Sadiq Khan

mayor of London: In May, the Guardian revealed that 184 of the 214 apartments in the luxury central London development the Tower did not have anyone registered to vote and that almost two-thirds of the properties were owned by overseas buyers, according to The Guardian. The new mayor of London, Sadiq Khan, has spoken out about buyers who use homes in the capital as gold bricks for investment . The research, by the estate agency Cluttons and You Gov, focused on a small number of high net worth individuals from Gulf states who were interviewed about their property portfolios. Concerns have been raised over buy to leave properties, which are often owned by overseas buyers who do not use them for much of the year. Of the 127 people who responded, 55% owned a number of homes around the world, and more than one in 10 said London was their city of choice for investment. A quarter of those who said they planned to buy a property in London said they were targeting capital gains rather than looking for somewhere to live or let out, while 22% said they were planning to buy to let. Investors spoke of London infrastructure and connectivity via frequent, direct flights to their home countries, and the political, economic and physical security offered by the city. (news.financializer.com). As reported in the news.