{"id":19731,"date":"2018-04-24T13:34:53","date_gmt":"2018-04-24T12:34:53","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731"},"modified":"2018-11-22T16:48:21","modified_gmt":"2018-11-22T15:48:21","slug":"mcmafia-dirty-money-buying-luxury-homes-londongrad-investigation-focuses-uk-property-investment","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731","title":{"rendered":"McMafia dirty money buying luxury homes in Londongrad? Investigation focuses on UK property investment"},"content":{"rendered":"
\"Luxury
Luxury apartment homes being built in London<\/figcaption><\/figure>\n

Treasury Committee chair, Nicky Morgan, has confirmed claims have been made that the UK, in particular the London property market, was attracting the financial proceeds of overseas crime and corruption. She said:<\/p>\n

\n

\u00e2\u20ac\u0153It has been claimed that the UK, particularly the London property market, is becoming a destination of choice to launder the proceeds of overseas crime and corruption \u00e2\u20ac\u201c so-called \u00e2\u20ac\u02dcdirty money\u00e2\u20ac\u2122.\u00e2\u20ac\u009d<\/p>\n<\/blockquote>\n

Anti-corruption group, Transparency International<\/a>, alleged in March that London had \u00e2\u20ac\u02dcroutinely been the choice destination for Russians with suspicious wealth to move\u00e2\u20ac\u2122. The UK\u00e2\u20ac\u2122s \u00e2\u20ac\u02dcrelaxed approach to regulation\u00e2\u20ac\u2122 and offshore secrecy meant criminals had little trouble bringing dirty money into the UK.<\/p>\n

The Treasury Committee quoted figures claiming that \u00c2\u00a34.4 billion of UK property may have been purchased using suspicious wealth – \u00c2\u00a3880 million of which, more than a fifth, it says has come from Russia.<\/p>\n

However, the Russians are not the only nationality under the corruption spotlight \u00e2\u20ac\u201c buyers from the United Arab Emirates have spent \u00c2\u00a31.7 billion of suspicious wealth on UK property, putting Russians in second place. The ‘Paradise Papers’ this month highlighted the investment of drug money in the London luxury property market by Ukrainian criminals .<\/p>\n

According to Knight Frank, only 3% of prime central London property was bought by Russians in 2017 \u00e2\u20ac\u201c a far cry from the 20% of homes valued at over \u00c2\u00a310 million that they purchased in 2013.<\/p>\n

How will London\u00e2\u20ac\u2122s luxury property market fare in the face of Russian fallout?<\/strong><\/p>\n

Following recent tensions between London and Russia, the government has announced it will review the visas of hundreds of Russians living in the UK.\u00c2\u00a0The focus will be on those who arrived in the UK between 2008 and 2015, under a Tier 1 visa. The Tier 1 (entrepreneur) visa category enables wealthy individuals (from all countries) to obtain a visa into the UK. They need only show they have access to minimum \u00e2\u20ac\u02dcinvestment funds\u00e2\u20ac\u2122. The largest number of applications come from Russia and China every year.<\/p>\n

A new policy of \u00e2\u20ac\u02dcUnexplained Wealth Orders\u00e2\u20ac\u2122 will enable suspicious assets in the UK to be seized until the owner proves otherwise.\u00c2\u00a0The policy will put London\u00e2\u20ac\u2122s high end property market in the spotlight, with greater scrutiny over luxury homes, private jets and the funding of terrorism.<\/p>\n

It is thought that the focus on Russians may drive some away from London, potentially flooding the market with luxury homes for sale.<\/p>\n

Property Surveying has local independent Chartered Surveyors in London<\/a> for all your property buying and valuations requirements.<\/p>\n

SH\/LCB<\/p>\n

Back to April 2018 Newsletter<\/a><\/p>\n

\u00c2\u00a9\u00c2\u00a0www.PropertySurveying.co.uk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Treasury Committee chair, Nicky Morgan, has confirmed claims have been made that the UK, in particular the London property market, was attracting the financial proceeds of overseas crime and corruption. She said: \u00e2\u20ac\u0153It has been claimed that the UK, particularly the London property market, is becoming a destination of choice to launder the proceeds of … Continue reading “McMafia dirty money buying luxury homes in Londongrad? Investigation focuses on UK property investment”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"folder":[557],"class_list":["post-19731","page","type-page","status-publish","hentry"],"yoast_head":"\nMcMafia dirty money buying luxury homes in Londongrad? Investigation focuses on UK property investment - Property Surveying NEWSLETTER<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"McMafia dirty money buying luxury homes in Londongrad? Investigation focuses on UK property investment - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"Treasury Committee chair, Nicky Morgan, has confirmed claims have been made that the UK, in particular the London property market, was attracting the financial proceeds of overseas crime and corruption. She said: \u00e2\u20ac\u0153It has been claimed that the UK, particularly the London property market, is becoming a destination of choice to launder the proceeds of … Continue reading "McMafia dirty money buying luxury homes in Londongrad? Investigation focuses on UK property investment"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731\" \/>\n<meta property=\"og:site_name\" content=\"Property Surveying NEWSLETTER\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PropertySurveying\" \/>\n<meta property=\"article:modified_time\" content=\"2018-11-22T15:48:21+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/Luxury-apartments-in-London-1024x256.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=19731\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=19731\",\"name\":\"McMafia dirty money buying luxury homes in Londongrad? Investigation focuses on UK property investment - Property Surveying NEWSLETTER\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=19731#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=19731#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/wp-content\\\/uploads\\\/Luxury-apartments-in-London-1024x256.jpg\",\"datePublished\":\"2018-04-24T12:34:53+00:00\",\"dateModified\":\"2018-11-22T15:48:21+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=19731#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=19731\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=19731#primaryimage\",\"url\":\"http:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/wp-content\\\/uploads\\\/Luxury-apartments-in-London-1024x256.jpg\",\"contentUrl\":\"http:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/wp-content\\\/uploads\\\/Luxury-apartments-in-London-1024x256.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=19731#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"McMafia dirty money buying luxury homes in Londongrad? Investigation focuses on UK property investment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#website\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\",\"name\":\"Property Surveying NEWSLETTER\",\"description\":\"The NEWSLETTER\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#organization\",\"name\":\"Property Surveying NEWSLETTER\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/wp-content\\\/uploads\\\/cropped-property-surveying-logo-for-newsletter-body-1.png\",\"contentUrl\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/wp-content\\\/uploads\\\/cropped-property-surveying-logo-for-newsletter-body-1.png\",\"width\":240,\"height\":50,\"caption\":\"Property Surveying NEWSLETTER\"},\"image\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/PropertySurveying\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"McMafia dirty money buying luxury homes in Londongrad? Investigation focuses on UK property investment - Property Surveying NEWSLETTER","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731","og_locale":"en_GB","og_type":"article","og_title":"McMafia dirty money buying luxury homes in Londongrad? Investigation focuses on UK property investment - Property Surveying NEWSLETTER","og_description":"Treasury Committee chair, Nicky Morgan, has confirmed claims have been made that the UK, in particular the London property market, was attracting the financial proceeds of overseas crime and corruption. She said: \u00e2\u20ac\u0153It has been claimed that the UK, particularly the London property market, is becoming a destination of choice to launder the proceeds of … Continue reading \"McMafia dirty money buying luxury homes in Londongrad? Investigation focuses on UK property investment\"","og_url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731","og_site_name":"Property Surveying NEWSLETTER","article_publisher":"https:\/\/www.facebook.com\/PropertySurveying","article_modified_time":"2018-11-22T15:48:21+00:00","og_image":[{"url":"http:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/Luxury-apartments-in-London-1024x256.jpg","type":"","width":"","height":""}],"twitter_misc":{"Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731","name":"McMafia dirty money buying luxury homes in Londongrad? Investigation focuses on UK property investment - Property Surveying NEWSLETTER","isPartOf":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731#primaryimage"},"image":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731#primaryimage"},"thumbnailUrl":"http:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/Luxury-apartments-in-London-1024x256.jpg","datePublished":"2018-04-24T12:34:53+00:00","dateModified":"2018-11-22T15:48:21+00:00","breadcrumb":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731#primaryimage","url":"http:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/Luxury-apartments-in-London-1024x256.jpg","contentUrl":"http:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/Luxury-apartments-in-London-1024x256.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19731#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.propertysurveying.co.uk\/newsletter\/"},{"@type":"ListItem","position":2,"name":"McMafia dirty money buying luxury homes in Londongrad? Investigation focuses on UK property investment"}]},{"@type":"WebSite","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#website","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/","name":"Property Surveying NEWSLETTER","description":"The NEWSLETTER","publisher":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#organization","name":"Property Surveying NEWSLETTER","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#\/schema\/logo\/image\/","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/cropped-property-surveying-logo-for-newsletter-body-1.png","contentUrl":"https:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/cropped-property-surveying-logo-for-newsletter-body-1.png","width":240,"height":50,"caption":"Property Surveying NEWSLETTER"},"image":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/PropertySurveying"]}]}},"_links":{"self":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages\/19731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19731"}],"version-history":[{"count":0,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages\/19731\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19731"}],"wp:term":[{"taxonomy":"folder","embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=%2Fwp%2Fv2%2Ffolder&post=19731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}