Offshore investors avoiding millions in tax buy London's lavish properties sending market prices soaring | Mail Online

Offshore investors avoiding millions in tax buy London's lavish properties sending market prices soaring | Mail Online
Britain's high-end housing market is in the grip of rich property dealers avoiding millions in tax and making huge profits which drives up prices, an investigation has revealed.

At the heart of this powerful network of speculators is the British Virgin Islands - where the haven status allows the rich to build colossal property empires in the UK under cloaked in secrecy.

In the last year more than £7billion of offshore funds has flooded into Britain, buying up some of London's most exclusive and expensive buildings and homes.

This flurry of interest by dealers is forcing up the prices of all properties in London and other parts of the UK, experts say.