2015 - 2016

New Subjectivities

Stanley Tan (1st Year)

With a reported annual estimate of £2bn of foreign direct investment in the London Residential Real Estate between 2012-2015, and house prices seeing a 258% increase in the last decade; London continues to attract rising numbers of overseas purchasers. This trend is not new, as wealth generated in new world economies flows into safe-haven old-world markets. Global real estate investment is overwhelmingly a world city phenomenon now. This raises legitimate inquiry into who really owns the city. How much of what is foreign owned and what are the implications of this within the city and its communities? Are cityscapes increasingly shaped according to foreign buyers’ tastes and desires? Has London as a city become a commodity? Has London become a global currency?


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