On properties owned by foreign investors left empty

Residents have voiced concerns on the forum regarding the level of foreign investment in the new developements being built along the Upper Richmond Road in Putney. There is an understanding that these vacant premises maintains & boosts the high property prices in the area.



Today Mayor Boris Johnson called for rich foreign investors to have their council tax hiked to ten times the current rate if they leave their properties empty.

Currently councils can impose 150 per cent hikes in council tax for empty homes - but Mr Johnson's call is for for a far harsher approach.

During his ' Ask Boris LBC phone-in show': "What is certainly not acceptable is people who buy homes as assets and keeping them empty is Kensington and Chelsea or Westminter of wherever, and keeping them empty as a sort of bank balance in the sky.

"That's not good and what we are certainly saying is councils who have powers to impose punitive council taxes on people is do so."

June 5, 2014