Sadiq Khan to probe foreign investors in London

Ryan Bembridge

September 30, 2016

Sadiq khan

London Mayor Sadiq Khan is launching an enquiry into foreign property buyers amid concerns of dirty money flooding into the capital.

Khan (pictured) said there were “real concerns” about the surge in homes bought overseas, as he pledged to find out the scale of the problem to help native Londoners.

The London Mayor has pledged to make 50% of new homes built affordable to rent and buy.

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Khan said: “We welcome investment from around the world in building new homes, including those for first-time buyers.

“At the same time, as more and more Londoners struggle to get on the property ladder, there are real concerns about the prospect of a surge in the number of homes being bought by overseas investors.

“It’s clear we need to better understand the different roles that overseas money plays in London’s housing market, the scale of what’s going on, and what action we can take to support development and help Londoners find a home.

“That’s why we are commissioning the most thorough research on this matter ever undertaken in Britain – the biggest look of its kind at this issue – so we can figure out exactly what can be done.”

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