Foreign buyers snap up £100bn of London property

23rd October 2015

The Standard reveals wealthy investors have acquired over £100bn of property across London by using overseas companies in the past six years. Land Registry data obtained by Private Eye magazine shows that since 2008 there have been 27,989 purchases of homes, buildings and land in the capital by corporate structures - usually registered in tax havens. Two-thirds of the purchases were made by companies registered in Jersey, Guernsey, the Isle of Man and the British Virgin Islands. Green London Assembly member Darren Johnson said: "The Mayor has been too relaxed about investors buying up property in London. These figures show a huge volume of property snapped up via tax havens. It's Londoners who are losing out."

Evening Standard (23/10/2015)