Best Of Londonist: Christmas Beers, New Stations And Umbrella Etiquette | Londonist

7 Dec

Best Of Londonist: Christmas Beers, New Stations And Umbrella Etiquette | Londonist.

i get this delivered to my email regularly and it is a snapshot of what is happening in london.

it is interesting, to me as i come from malaysia, that the square in front of the battersea power station, is to be called malaysia square. it was announced in a ceremony held in malaysia, and attended by no less than the primeminister himself.

a lot of the comments lament that the flats are sold overseas and beyond the reach of most people. but they dont look at it in perspective. for years that area was an eyesore, with the powerstation crumbling away because those who bought it went bankrupt. and that accusation that only foreigners can afford it applies to all the luxury developments springing up all over london.

it is only now with this huge boom in luxury flats that the project can get off the ground. and it helps that it is so near the new development that is the US embassy. in fact i think the US embassy relocation is the catalyst for all this surge in demand in this area. so the malaysian developers hit the jackpot and bought in at the right time.

i wonder how the increased cost of stamp duty brought in only a few days ago, and effective immediately for over £2million houses will affect this market. those properties below that amount will certainly be more popular. i have read a studio there was advertised for resale, even before it is built, for almost double and it seems has been bought. amazing that people will pay £1.5million for a studio, though from the artist’s view of it, it is quite a classy studio on the top, with a balcony overlooking the river.

i wonder if the huge demand is artificial, bloated by speculators who buy and then sell it on at a huge profit, and this resale will only encourage more speculators.

one cant help wondering when the bubble will burst. haha. though with it being global, there may still be a lot more play to this and the bubble may not burst at all. but i think the stamp duty increase may be the start of it.

also the glimpse of the new tottenham court road station. we have seen the hole in the ground and the open space above it for quite some time now and the traffic jams all round it, haha.

the first part of it opens in jan 2015. what is surprising is that the tube is still functioning for tube passengers now even with all that construction going on.

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