Ghost Capital

by Zbigniew

“Henry Pryor, a property buying agent, says the London luxury new-build market is ‘already overstuffed but we’re just building more of them’.

“’We’re going to have loads of empty and part-built posh ghost towers,’ he says. ‘They were built as gambling chips for rich overseas investors, but they are no longer interested in the London casino and have moved on.”

Ghost towers: half of new-build luxury London flats fail to sell,” Rupert Neate, The Guardian, January 26, 2018

*

“According to U.S. group Demographia, Vancouver is the third-least affordable city in the world for a home ….”

Vancouver housing market more unaffordable than New York and London: survey,” Gerry Marr, The Financial Post, January 26, 2016