As a logic experiment for people in well off countries have a think about what would happen if people built 10 million mansions and left them empty.
Firstly it wouldn't happen even with black money. There's no point having assets you can't use. You're better off just paying the tax and collecting rent.
There'd be a lot of jobs building them.
And the housing market would become cheaper since they have to be sold at some point.
This is a pretty awful BBC, quoting some sort of site, that quotes a Managing Director of a large property constant.
The firm doesn't seem to have produced a report, it seems to be based off an interview, or just a comment of some sort.
Firstly it wouldn't happen even with black money. There's no point having assets you can't use. You're better off just paying the tax and collecting rent.
There'd be a lot of jobs building them.
And the housing market would become cheaper since they have to be sold at some point.
This is a pretty awful BBC, quoting some sort of site, that quotes a Managing Director of a large property constant.
The firm doesn't seem to have produced a report, it seems to be based off an interview, or just a comment of some sort.
https://twitter.com/cbreasia/status/593669907172237312