May 25, 2016

Item from Ian: Vancouver on the Thames

Ian: Remind anyone of Coal Harbour? (Or likely Vancouver House … or….)

london 2

Almost two-thirds of homes in the Tower, a 50-storey apartment complex inLondon, are in foreign ownership, with a quarter held through secretive offshore companies based in tax havens, a Guardian investigation has revealed.

The first residents of the landmark development arrived in October 2013, but many of the homes are barely occupied, with some residents saying they only use them for a fraction of the year.

The revelations about the Tower are likely to be seized on by campaigners and politicians as the starkest example yet of the housing crisis gripping the capital, in which too many new homes are sold abroad as investments and left largely empty while fewer and fewer young people can afford to buy or even rent in the city.

 

Full story here in The Guardian

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