From Alan Anderson.
IF the claim (JEP, 18 July) of Senator Le Main that the purchase of share transfer flats by non-residents does not adversely affect local buyers is accepted at face value, the Housing Minister ought logically to allow non-residents to buy (although not to occupy) any property in the Island.
The heirs of such persons would be barred from having rights of occupation.
It needs little gumption to recognise that the minister’s statement is fallacious, as any extra purchasing power either helps to hold or to lift prices or ultimately to contribute to fewer properties.
The policy was always wrong to allow the excess building of flats, especially ones with so few bedrooms. Young couples planning a family need houses with gardens.
In due course, children from flats will be sent out to play in and later roam and criminalise the streets. The authorities seem to have learnt nothing from the social crisis plaguing London and other cities.
On the upside, the minister’s policy does protect builders from risk. If builders could not sell flats ‘off-Island’ (even the 16% as quoted), then they might be forced to reduce their prices in order to sell or at worst to avoid financial meltdown as is currently happening in the UK.
Côtes de Rozel,
Mont de Rozel,