Only 19 percent of property-buyers are British.

Via Faisal Islam’s twitter feed is this fascinating chart from Jones Lang LaSalle showing the nationalities of real estate buyers in central London. Only 19 percent are British; a steady stream of international buyers, including people from Hong Kong, Singapore and Malaysia, make up the bulk of the purchases. As we reported recently, it seems foreigners are responsible for the crazy price boom in London’s fanciest houses; but the data above is of standard family residences. What’s driving these purchases? London’s rising property prices make real estate an attractive asset (to the point where many see a bubble) and foreigners see fixed assets in the UK as a kind of haven investment. UK developers are even pre-selling their projects to overseas in investors in advance of building to reduce the financing risk on their projects.

This post originally appeared on Quartz.

About the Author

Most Popular

  1. photo: Police line up outside the White House in Washington, D.C. as protests against the killing of George Floyd continue.
    Perspective

    America’s Cities Were Designed to Oppress

    Architects and planners have an obligation to protect health, safety and welfare through the spaces we design. As the George Floyd protests reveal, we’ve failed.

  2. A photo of a police officer in El Paso, Texas.
    Equity

    What New Research Says About Race and Police Shootings

    Two new studies have revived the long-running debate over how police respond to white criminal suspects versus African Americans.

  3. Equity

    What Happened to Crime in Camden?

    Often ranked as one of the deadliest cities in America, Camden, New Jersey, ended 2017 with its lowest homicide rate since the 1980s.

  4. A participant holding a Defund Police sign at the protest in Brooklyn.
    Equity

    The Movement Behind LA's Decision to Cut Its Police Budget

    As national protesters call for defunding police, a movement for anti-racist “people’s budgets” is spreading from LA to Nashville to Grand Rapids.

  5. photo: Police in riot gear march down Plymouth Avenue during riots in North Minneapolis on July 21, 1967.
    Equity

    Why This Started in Minneapolis

    Conditions that led to George Floyd’s death are not unique to Minneapolis and St. Paul. But there’s a reason why the Twin Cities triggered a national uprising.

×