LONDON, Sept 29 (Reuters) - London’s mayor Sadiq Khan will launch an inquiry into foreign ownership of property in the British capital which has helped push up housing costs, the Guardian newspaper cited him as saying on Thursday.
“It’s clear we need to better understand the different roles that overseas money plays in London’s housing market, the scale of what’s going on, and what action we can take to support development and help Londoners find a home,” the Guardian quoted Khan as saying.
“That’s why we are commissioning the most thorough research on this matter ever undertaken in Britain - the biggest look of its kind at this issue - so we can figure out exactly what can be done.”
London property prices rose more than 12 percent in the 12 months to July, according to official data. (Writing by William Schomberg; editing by Stephen Addison)