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Developers defend sale of unbuilt homes to Far East
Galliard Homes has just marketed a new residential project in East London to prospective buyers in the UK and Singapore simultaneously.
Live updates
- ITV Report
Why London flats are going on sale in Hong Kong
- Simon Harris: Political Correspondent
Off-plan sales 'essential part' of persuading banks to fund development
The opposition parties at City Hall have called on the mayor to back tighter controls on residential sales to overseas buyers. Galliard Sales Director David Galman said 70% of properties at Royal Gateway had been sold to domestic buyers.
David Galman said "off-plan" sales were an essential part of persuading banks to fund a development before building work could start.
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- Simon Harris: Political Correspondent
Developer urging house hunters to 'call now prior to Hong Kong launch'
Galliard Homes took out a newspaper advert today urging house-hunters to "Call now prior to Hong Kong launch this weekend".
Flats in the 336-apartment Royal Gateway development range from a £299,000 studio to a £715,000 3-bedroom duplex.
- Simon Harris: Political Correspondent
Developer defends sale of unbuilt homes to Far East
One of the London's largest housing developers has defended the sale of unbuilt homes to investors in the Far East. Galliard Homes has just marketed a new residential project in East London to prospective buyers in the UK and Singapore simultaneously.
Latest ITV News reports
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Why London flats are going on sale in Hong Kong
Critics say the move is helping to fuel the property crisis in the capital.