Case Study → Qatari and Russian Property in London and US or Indian or Chinese Ownership of TNCs Simplified Revision Notes for A-Level Edexcel Geography

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Learn about Topic 8: Migration, Identity & Sovereignty for your A-Level Geography Exam. This Revision Note includes a summary of Topic 8: Migration, Identity & Sovereignty for easy recall in your Geography exam

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Case Study → Qatari and Russian Property in London and US or Indian or Chinese Ownership of TNCs

Context	● Foreign ownership of property and land is increasing in the UK, where the property market offers good returns on investment ○ Non-national ownership of property in the UK is much higher in London than anywhere else ○ Majority of foregin buyers of new build property are from Asia ■ Overall foreign buyers represent 5-10% of all buyers in London ■ In prime locations like Kensington, Westminster and the City, foreign buyers represent 30% ● Foreign property investment has pushed up property prices in London, making housing unaffordable for some ○ The average house price in Kensington and Chelsea in 2020 was £1.85 mil (50x the avg London salary) ● The concept that British people are unable to afford to live in Britain's Capital is seen as a threat to national identity
Russian	● In 2014, an estimated 10% of all money spent on property in London was Russian
Qatari	● The Qatar Investment Authority (QIA) is London's largest property owner ○ In 2016, it had invested £30 bn in the UK, most of it in London ○ QIA-owned property includes The Shard, Canary Wharf and the Olympic Village
Character Change	● Services such as shops and restaurants now increasingly cater for foreign property buyers ● Some of the money being invested may be linked to criminality and be 'hidden' in the London property market

                                                           Multi-polarity: A New Alignment*

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Topic 8: Migration, Identity & Sovereignty

Globalisation has led to an increase in migration both within countries and among them