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. A man charges an electric bus in Santiago, Chile.
    Transportation

    The Verdict's Still Out on Battery-Electric Buses

    As cities experiment with battery-powered electric buses, some are finding they struggle in inclement weather or on hills, or that they don’t have enough range.

  2. A photo of a DART light rail train in Dallas, Texas.
    Transportation

    What Cities Are Getting Wrong About Public Transportation

    Cities could get more people walking, biking, and riding transit, according to a new report, if they just know where to look for improvement.

  3. Government workers and their supporters hold signs during a protest in Boston.
    Equity

    The Shutdown Is Screwing With Cities and Mayors Are Not Pleased

    Local officials are bracing for a confluence of funding crises barrelling toward transit, housing, food assistance, and … well, everything else.

  4. A photo of President Donald Trump showing off U.S.-Mexico border wall prototypes in March 2018.
    Perspective

    This Isn't a Border Wall: It's a Monument to White Supremacy

    Like Confederate monuments, President Trump’s vision of a massive wall along the Mexican border is about propaganda and racial oppression, not national security.

  5. Inscriptions on a Confederate monument in Linn Park in Birmingham, Alabama.
    Equity

    Alabama Can’t Make Birmingham Display Confederate Monument

    The legal decision was monumental both for its dismantling of a pro-Confederate law and the implications for cities’ rights in the face of states’ rights.