Between "renting an empty house in the country" and "buying a flat to park money", there is a major difference IMO. The second scenario pushes up housing costs for locals and is almost certainly not a good deal for the host society.
Even the first scenario will fuel inflation, especially given the typical spending power of rich foreigners. It's complicated.
> Between "renting an empty house in the country" and "buying a flat to park money", there is a major difference IMO. The second scenario pushes up housing costs for locals and is almost certainly not a good deal for the host society.
Developers are happy to produce more housing, if there's demand and construction is legal.
Why is producing widgets to sell to foreigners (=exports) generally seen as a good thing, but producing housing to sell to foreigners is seen as bad?
> Even the first scenario will fuel inflation, especially given the typical spending power of rich foreigners. It's complicated.
Even the first scenario will fuel inflation, especially given the typical spending power of rich foreigners. It's complicated.