Every Flat in a New South London Development Has Been Sold to Foreign Investors

When Elephant and Castle’s Heygate Estate was eventually torn down in 2014, many tenants were forcibly evicted from their homes, given compensation at less than 40 percent of the market value. In its place, Londoners were promised a shiny new development that would provide affordable, accessible homes for key workers desperate to get on the property ladder.

As the first properties hit the market, a report claims that 100 percent of those sold so far have gone to offshore foreign investors.

 

Reported by Vice

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