This petition was submitted during the 2015-2017 parliament
Rejected petition 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.
More details
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.
This petition was rejected
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It was created using a fake or incomplete name.
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