London’s old elite is discovering how it feels to be priced out
‘Super-rich foreigners are “forcing” the old money elite out of London’s prime postcodes.’ So declares London’s Evening Standard newspaper – confirming what the rest of us knew anyway. Indeed it was in the Spectator three years ago that I pointed out that central London was turning into Venice – a zombie city devoid of actual life with absentee foreign owners undermining its identity. The lights aren’t on and no one’s at home, because they’re in Monaco or Dubai or Shanghai. And now, thanks to a new report, we all – including even the Evening Standard’s property correspondent – know it’s true. According to Dr Luna Glucksberg of the International Inequalities Institute (good
