Submitted on Thursday 5th January 2017
Rejected on Friday 13th January 2017
Current status: Rejected
Rejection code: fake-name (see below for details)
Ban owning of residential properties by people who are not resident in the UK.
The house prices have gone out of reach of people as residential properties are used as investment instrument by foreign buyers. This is actively promoted by developers and investment businesses thereby inflating the house prices beyond the reach of ordinary UK residents.
The house prices in the UK are rising far more than the wages.In places like London, they are now beyond the reach of many ordinary residents.This is fueled by cash rich foreign buyers who use UK property market to park money and thereby causing major shortage of available housing at affordable prices. We request government to ban the sale of residential properties to foreign buyers(people & offshore companies) who are not resident in the UK for at least 183 days each year.
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The Government e-Petitions Team gave the following reason:
3.16.203.149 Sat, 18 May 2024 05:47:54 +0100
