Are House Prices in Europe in Touch with Reality?
The climate of low-interest rates in Sweden and other European countries means that people have been able to afford larger mortgages which in turn has increased competition for property and inflated house prices, creating several bubbles throughout ...
Why else would house-prices be comparable only with those in tax-havens - Monaco, Hong Kong, Geneva, etc.? Forget all the emotional arguments about how London is a cultural hub or whatever. It's *all* about tax and the path-of-least-resistance to make dodgy money appear clean. What better way to appeal to the ego and desire for status of someone from an iffy part of the world than to tell them "Route your cash through the UK's tax havens such as BVI, Cayman, Channel Islands - and then you can buy a house near Buckingham Palace and everyone will think you are terribly clever and important." The extraordinary thing is that over the last 10+ years, nobody has joined the dots between oligarchs parading around London and the notion that something dodgy must be driving it. No longer?