Sadiq Khan inquiry into impact of foreign investment

Monday 03 October 2016

In an exclusive interview with the Guardian Sadiq Khan stated that he will launch the UK’s most comprehensive inquiry into the impact of foreign investment flooding London’s housing market, amid growing fears about the scale of gentrification and rising housing costs in the capital.

Khan said there are “real concerns” about the surge in the number of homes being bought by overseas investors, adding that the inquiry would map the scale of the problem for the first time.

The inquiry will focus on the scale and impact of different types of overseas investment in London. It will examine how foreign cash has changed the housing market; from exclusive high-cost accommodation to middle and low-cost homes in different parts of London, and explore how other international cities are tackling the problem.

One key aim of the research will be shining a light on who is investing and where the money originates from. Khan added: “We urgently need more transparency around overseas money invested in London property. Londoners need reassuring that dirty money isn’t flooding into our property market, and ministers must now make all property ownership in London transparent so we can see exactly who owns what.

Read the original Guardian article