Flat Speculators in London May be Hit
— Ecceived Wednesday, 7 p.m. LONDON, JVIarch 31. For the first time in three years, rents of flats in West London are reportea to be tumbling and speculators are in danger of losing lieavily. ' . At one time the letting of "luxury" flats was regarded as London 's greatest "get rich quick" racket. Speeuia- . ! tors bought hundreds of big houses and converted them into flats. They found a loophole in the Eents Eestriction Act whereby they could charge premiums ' for leases of more than 14 years and some people paid as much as £2000 for ' the lease bf a £200 flat in a good block. Reeently flats worth £200 were being , let for £400 and £500 plus -£1000 pre- | miums. Latterly, although both pre- . .miums and rents have been cut, there ; have been no takers and speculators are , getting anxiou's. .
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Chronicle (Levin), 1 April 1948, Page 6
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145Flat Speculators in London May be Hit Chronicle (Levin), 1 April 1948, Page 6
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