Boris Johnson knows how to improve the situation in residential real estate in London

The mayor of London outlined his vision for the housing situation in London for the next decade.

Construction plays a key role in ensuring the secure future of London as one of the best cities in the world – so says the mayor of London Boris Johnson. He presented his agenda for the future in a report called: “Look in 2020 – the largest city on Earth, ambitions of London,” which made a forecast that the population of London will reach 10 million by 2030, the city will need 400,000 new apartments in the next decade.

Defending the need for stable and continuous investment in housing London and infrastructure projects, in particular, the mayor stressed that the capital now contributes a greater share to the UK economy than at any other time in history. And future prosperity of the UK partly depends on hardworking Londoners. The leitmotif of the report passed to the thread that Londoners in need of housing and jobs. And solutions to problems the mayor sees in the partnership.

Johnson noted that the task of growing number of population must be solved by building houses on the new plots have already been allocated 21 of land for residential construction. The mayor also raised the issue of the allocation of additional loans for housing.

Another initiative of the mayor was the decision of the question with those land plots that are not used, or denied a building permit. The solution to all bureaucratic obstacles would greatly accelerated the construction process.

It is important for Londoners the question that raises is not the first time Boris Johnson was re-announced – to send money from stamp duty, which is paid by property buyers in London, the needs of the city. Now these funds are allocated to the Federal budget and the size of them is around £1 billion pounds per year.

The availability of residential property in London is not only the problem of the unemployed, or those who use benefit – this is a problem most young professionals and working families who are dealing with the rising cost of affordable housing by 3% -4% every year and benefits decreased by 3.9% over the past five years.

Among the measures that the government of London intends to take to improve a difficult situation with affordable housing in London, was to study the possibility of using pension funds for the financing and construction of social housing.

® Alice Morgan 17.06.2013