Londoners Struggle To Meet Property Prices
The increasing participation of foreign funders and developers in determining London’s cityscape is testament to the enduring appeal of the capital as an investment location. Wealthy foreign developers catering to wealthy foreigner investors is nothing new, and whilst it comes with some unappealing side-effects the net result is a positive one for the city. The key issue to be tackled is how developers’ provisions of more affordable housing are encouraged and enforced, a vital question given London’s undeniable supply crisis.
In addressing this the government’s role will need to tread a fine line between placing a higher emphasis on reaching its housing target and sending the wrong message to developers regarding London’s investment environment