Tag Archives: property

life is nice

15 Apr

london 11.53am 11C sunny easter saturday 2017

it really is nice, even with me having this fractured foot. its very peaceful in my flat. john has come back and staying  over the weekend, before he goes off again next week. but he has been fetching and carrying for me, which is a real treat as i find it heck of a palaver to carry a simple thing like my coffee cup from the kitchen to the sofa in the lounge. using the trolley to carry it, cause it to spill and i have to resort to using a large cup so that i dont fill it with liquid so high that it spills. but it is a minor problem really. now john is busy in the kitchen cooking a curry stew. which will keep me in food for a bit without needing me to cook a lot.

and the sun is shining out there , even though the sky looks very cloudy. its a mystery that, with all that cloud, the sun is still able to shine so brightly through it. 

as usual reading the news, not a lot of happy news about. but that is the nature of news. good news is not really what the news is about. i would say bad news get all the press. so bear this in mind, or at least i have to constantly remind myself when i read the news so as not to get too depressed about  it.

i got a reminder via email that the place in the sun exhibition in olympia is coming on 5may. they have given me a free ticket to go but i am not sure i shall. not with this foot, but also the whole idea of buying property in europe has gone tits up now that we are leaving. i am sure i am not the only one who feels that way… i am afraid it has also affected the way i view those tv programs about buying property in europe. they all seem rather pointless now. 

i read a article saying lots of pensioners have given up on retiring in europe. perhaps they will revert to what they did in the old days before the EU, which is to take winter holidays over the 3 winter months in spain. that way they miss out on the very hot summer months in spain and which was the ideal way to go about it before this idea of retiring there make them go and live there all year round, and suffer the summer heat. 

i have been reading the lucia books by e f benson. but searching google, i find there is a free audio book u can listen to. so i am hearing it now, queen lucia, the first book in the series. 

added, 9.04pm what a happy coincidence. do u believe in coincidences? anyway i was idly coasting the tv channels and stumbled across the adaptation of mapp and lucia on the drama channel.  it was on at 8pm and i caught it just as it was being shown. they must have decided to do a re-run of the 3episodes over this long easter weekend and it is on everyday at 8pm till monday. it has only 3 episodes. and funny enough i was actually reading it earlier today in a book which i bought for 30p when the library was selling off their old books. it was a trilogy, starting off with this one. 

 

money laundering

27 Jul

london sunday 2014

Ever wondered why anyone would pay £140million for a flat in london? This article in the independent makes me realise why.

the flat is at one hyde park. and it is a penthouse that has sold for that price in 2010 and is still a shell. how does it work?

like this… you want to get your money out quick, so u buy this flat, pay all the other subsidiary (stamp duty, etc,etc) costs to buy one , and presto, you have moved £140million into uk. u sit on it for the requisite number of years and then sell at the same price and you free the money.

i am sure other flats/houses in london are sold to foreigners on the same basis. no questions asked as to how u earn that money. the prices are not so high as this 1hydepark flat, and there is the real chance of you being able to sell it on for a higher price than you bought it. not to mention you could rent it out and make some money too. it is a win -win-win situation.

people have warned that london’s property boom may crash. if this is true, that a lot of the money is laundered money, even if there is a property correction, i doubt it will crash , not in london. people think illegal money for laundering is drugs money, or crime money, but a simple thing like not declaring earnings for tax can fall into that category. plenty of people may have money like that to use up and make legit. 

it is perfect for laundering money and getting it out of your own country. there is also gains to be made if , as now, sterling increase in value. though that is not the primary concern. the money is now legit and u can use it in legit businesses.

one thing though, you will have to pay high service charges. this article which says there is a separate entrance in luxury blocks to differentiate their low cost tenants from the others, not only separates the rich from the poor tenants but also separates the high service charges too.

 I have a feeling that a lot of things happening in the commercial world is tax and money laundering fronts.

as well as lots of luxury flats being built in london, there are a lot of restaurants and eating places opening in london. why? there must be tax and money laundering advantages here. it is a way for foreign money to get a toe hold in london, and to legitimise the money invested. like mafia bosses opening businesses ( for eg laundromets, and restaurants) to clean up their money, i think restaurants (and buy- to- lets) are a great pathway to make the money clean.

housing…rent or buy?

14 Jul

london

I was reading in the newspaper about a family who got evicted after 13yrs in a low rent accommodation. their landlord finally decided to sell. so now the family cannot afford to rent other flats as prices have gone up so much.

 it makes me realise that if they had a high rent from the start, they might be forced to be homeless 13yrs ago where it was so much easier to get onto council’s housing list and they might be in a council house now, where rents are more stable.

here is a case of what seems to be  good fortune to get a low rent accommodation and a low rent landlord makes them lose out on a council flat, or  even buy a flat in those times when flats, especially ex council flats, are really cheap.

That is why i am glad i got evicted from my bedsit in 1991. I was living in balham, the landlord was selling up to a housing association and all of us have to move.

that was when i decided to look for a flat to buy and i was sure glad i did because i caught the housing just when it went down to the lowest slump in ages. the stock market crash of 1989 caused house prices to drop drastically right through the early ’90s. it was a good time to buy. Though i did not realise it then. 

I think this is a very good reason why it is better to buy than to rent. Rents can and will go up. whereas if u buy, u can pay off the mortgage when u retire, and so live practically free.

I have a feeling that the system is geared towards companies … if a person dies that property is lost , sold off. and subjected to inheritance tax, whilst if it is a company there is no inheritance tax and the heirs can still use the property as they will control the company. company tax is always lower than personal tax too.

That property will keep its value and over time increase in value. it is  inevitable, even though they keep telling u properties can go up as well as down. over a long period, it always go up.

And when we are talking of companies, the time scale is vast, we are talking of generations and it is easy to imagine that prices must go up.

 That is why the rich form companies so that their heirs can enjoy the wealth.  it will also prevent any one heir from wasting the inheritance. 

now that the football world cup is over, people will not know what to take its place. summer is here and i suppose people should be out and about and enjoying london instead of being glued to the telly.

maybe that is why the summer tv schedule is always full of repeats and is dull. 

There is no shortage of things to do in london.

Tomorrow i shall most probably go to trafalgar square and watch the 2nd opera BP sponsored showing ( it is la boheme )to the public on the big screen there.