Re:Money-laundering oligarchs bought all the real-estate to ...
by tomp on Monday January 28, 2019 @06:08AM
(#19016536)
2 reasons:
- increased demand: wealthy/corrupt foreigners outbid (pay more) local buyers, so more locals are renting instead of buying
- lowered supply: if your main motivation is money-laundering and/or long-term stability (e.g. the rich Chinese/Saudi buying property in a democratic, stable, non-corrupt country like the UK), chances are they won't be renting it (the income is negligible), it might just sit empty
- increased demand: wealthy/corrupt foreigners outbid (pay more) local buyers, so more locals are renting instead of buying
- lowered supply: if your main motivation is money-laundering and/or long-term stability (e.g. the rich Chinese/Saudi buying property in a democratic, stable, non-corrupt country like the UK), chances are they won't be renting it (the income is negligible), it might just sit empty