“I help middle-class Chinese citizens become London landlords”
https://readbunce.com/p/foreign-citizens-london-landlords
Posted by More-Diamond554
“I help middle-class Chinese citizens become London landlords”
https://readbunce.com/p/foreign-citizens-london-landlords
Posted by More-Diamond554
36 Comments
[deleted]
“I screw over my fellow Britons to help foreigners from a hostile nation profit, a process that has a significant negative effect on the the country as a whole”.
Fucking traitor.
Strong “don’t hate the player, hate the game” vibes here. Banning foreign non resident ownership of residential property is easily achievable by parliament.
Yes, Berkeley Homes’ marketing materials have been in both English and Mandarin for a long time. The one in Wood Green was the most shameless I’ve ever seen.
This article unnecessarily makes it a race thing.
Title should have been “UK citizens too poor due to taxes, so British banks court foreign money”
Why the Hong Kongers and Singaporeans specifically? Because thats where british banks have a large presence already, and from there its just an hours ride or less to mainland china.
All the headline had to say was I help people become landlords regardless of nationality. I still would have had the same disdain for the author
Also to note that these builders actually go to the cities and set up stalls to sell their homes, so it’s partially their fault too
You shouldn’t be able to own british housing or shares in infrastructure unless you have the right to live here
It’s wild that people will talk about behaving like this, as if it’s not just a flat out betrayal of your country to the benefit of a group of genocidal, communist authoritarians.
Ultimately this is getting construction funded.
If we don’t want the UK’s wealth to slowly drain out to China via property ownership, we need to look at alternative ways to fund construction.
One obvious way would be to build more social housing, with money borrowed on the UK government slate.
Well it would be nice if you stopped doing that, please.
I’ve just got back from Australia, where the government have decided to deal with out of control house prices by instituting a ban on foreign purchasing of “established dwellings” from 01/04/2025 to 31/03/2027.
It turns out that governments can just do things. I hope ours figures that out at some point.
People say we should stop government intervention in things and are then surprised when the free market is overwhelmed by foreign nationals who want to make money.
This type of thing and economists just can’t seem to get to the bottom of why productivity is poor.
Parasitic practices, not only taking hous9ng stock for money to filter out good look getting them to turn up to court should something go wrong.
Homes should be for residents, not investment models.
We have that issue over here in Hounslow, it’s Indians. Out of 12 houses on our road, half have become hmos over the past three years, after once being owned by families. It’s a major issue that blocks families from having a home
There is some analysis in this that would get penalised at gcse level.
The claim is that (1) build to rent is driving high house prices in London and (2) the build to let problem is accelerating in the past few years.
But housing affordability in London doesn’t track this data at all! Flats (which build to let usually are) have stagnated in nominal value, let alone real terms, for about a decade!
What is missing from the article is the other part of the equation which enables this in the first place – Chinese foreign students. China has very strict capital controls it is essentially impossible for Chinese citizens especially the lowly Chinese middle class to invest outside of China through non-government controlled instruments (this one of the reasons why Bitcoin and other crypto became so popular in China) for example if you want to buy foreign stocks as a Chinese citizen you have to go through Chinese based funds such as IGW.
Chinese citizens also cannot transact in foreign currency freely and every foreign currency purchase has to be made only for allowed and stated purpose and there is a limit of $50K on foreign currency transactions, and there is a limit of 100K RMB (about 10K GBP) on all Chinese cards on foreign currency purchases or ATM withdrawals overseas. Any and all foreign currency transactions have to go through the State Administration of Foreign Exchange (SAFE) in China.
There is however one big loophole and that is if you send your kids to study abroad you can move out a lot cash to “support them”, that allows you to bypass any limits normally set by the Government. (same goes for those who are seeking medical treatment abroad).
This isn’t new, I remember back in 2018 the answering message for the new massive development in Acton Town was in Chinese first then English, this has been going on for a long time, and it will only get worse as the amount of people able (or willing given the uncertainty in the housing market) to purchase off plan shrinks.
lol. we can cram bad tennants in there with made up references and bankrupt the poor landlord.
You are both a symptom and reason of China’s current property crisis
Yet another reason of many that British housing and rental market is a scam that prays and exploits on the working class to make middle and upper class profit. Modern day Victorian work houses.
As usual, it will be the average Brit getting screwed over. Much like we see with our train system being used to subsidise transport in other countries, due to those countries owning our train franchises.
High flying British professionals renting from the same professionals in Hong Kong, the USA, and China.
When are we going to accept that Britain (especially London) is suffering from a serious low pay crisis?
I have lost the will to read the news at this point, so not a comment specific to the validity of this article, but it jumps out at me that suddenly in one moment, there are a few different articles all of which are anti-china. Perhaps coincidental but does feel a bit orchestrated given the political climate and growing division between the US and China.
Is this where people are surprised people in finance and housing are amoral disgusting people who only care about money?
When we were doing house viewings we visited a new build housing development where 90% of the homes had been bought up by one guy from HK lol We noped out of buying that property.
Ended up buying second hand, most new builds these days being marketed as “investment opportunities” (in London specifically) was crazy and we didn’t want to give our money to these greedy developers.
Weird yellow peril headline.
Chinese buyers at 5.7pc，behind UAE，US，Sg and HK，although HK is a Chinese SAR.
Interesting that all are ex-British colonies or protectorates， except China，which was crushed by Britain and split up by foreign powers during the Opium Wars.
Anyway，these off-plan schemes are available to UK buyers，but as the article mentions，UK consumers feel it’s too risky to buy in this way. Given how the Chinese property market reacted after Three Red Lines was implemented，that is correct.
This has completely screwed up the Australian market, ensuring young people can’t get on the ladder, should be illegal.
So who is this person? staying anonymous? i wonder why, fucking rats
When I was learning Business Studies in sixth form, and the importance of finding the cliché *gap in the market*, I never thought we’d get this fucking desperate for novel money making ventures.
But the problem is, if a local pops up and protests a new build of lots of tiny flats, they are called a nimby
This is happening all over, especially along the rail line to London. Those fancy new apartments in Stevenage are Swedish owned and they are rental only
We have laws in our country prohibiting foreigners from buying land. I can tell y’all first hand that it doesn’t help one bit. In place of foreigners buying up all our land, we just have our own countrymen buy it themselves and become the landed aristocracy.
What we need is a land value tax.
Selling off British assets to foreign powers is the one thing we do really well.
It’s such a great idea, all the profits get syphoned out of our country to our competitors and we lose control of resources. Genius. At least we have our ‘sovereignty’ hey, no paradox there.
What is this source? I’ve never heard of readbunce or any of the authors.
Well this is infuriating, we cannot continue like this, but I can’t see it stopping.
Fxxking Hong Kong people buying uk houses and being landlords