Rural Homes being Bought up by Overseas Buyer

[Ruralhomescrisis]

I’ve name changed for this, as this relates to a very small rural community.

Like many small rural communities in a beautiful part of Scotland, holiday homes have pushed up prices of homes and land. My family are from a small village and have lived here for generations. I have siblings so not likely to inherit a house and have been looking to buy a property and move back for 3 years. Everytime a house goes on the market, we get outbid by someone wanting a second home / holiday home. Very annoying, but not unexpected.

What is unexpected is that the last few have all been bought by the same people who live in a far flung part of the world. This not only feels hugely unfair, but slightly suspicious. Why would someone want multiple properties in a very rural setting? Future development? These are crofts so large scale development seems unlikely.

The country in question has a reputation for financial ‘laxness’ - could this be a money laundering issue? If so, what can be done about this?

I feel like reaching out to these people (I have their contact details) to explain the impact on the community - many young families would love to settle here but at this rate our tiny school is heading for closure. Is this a terrible idea?

i don’t know what I want to gain by this post but if anyone has any insights or advice, I’d love to hear. I feel so helpless, and the decline in permanent population and community spirit is devastating

Interesting. My parents live in a village where developers are chomping at the bit to develop. The village are up in arms, demanding no housing. My father suggested that the village came up with a preference of the suggested schemes, as they were going to get some housing regardless so the community ought to decide which ones they felt least offended by. Uproar with such an outrageous decision! No housing ever!

so a few year down the line the developers have planning permission, the village got no say, and they’re still outraged. It will spoil our village! We have newts! Our houses will be devalued etc etc. such seething, naked NIMBYism in a world where their kids will grow up in a world where house prices are so high they won’t be able to live normal lives. It’s so blinkered.

In some ways it’s a blessing round here ,the SW Scotland, all the scruffy farm workers’ cottages, uncared for ,are now pretty, white painted with flower tubs outside.

Land especially is being bought up so in the future big business owners can offset their carbon credentials. There are more and more discussions, some conspiracy, about personal and business carbon taxes coming to fruition by 2030. These owners could a guise for bigger organisations/ corporations.

Either that or money laundering.

round here there seems to be some delight in a proposed new development of affordable homes on the edge of a small town - as long as the locals get a look in

Thanks for the response. More housing us definitely the answer but I can’t see this happening here, think remote peninsula/island setting with very little community infrastructure other than churches and a tiny school on the verge of closing.

But the community council point also raises and interesting query, if said buyers end up owning a significant portion of houses in an area, there is hardly any ‘resident voters’ left to influence local politics. Would electoral wards merge if resident numbers dwindle but house address numbers stay the same?

Half our high street is owned by overseas they jack up the rents no-one can afford and leave the shop to rot there are literally holes in the walls and roof but nothing is done

Wow, that is a crazy setup, a worker’s holiday park to service the wealthy holiday homes?!
I guess that relies on workers not having family or staying away from home to work.

Agree with the above. In all these cases it's the sellers who eagerly grab the highest offer from buyers. No doubt those sellers were complaining about the same thing before selling, but principles go out the window where money is concerned. Nothing's going to stop this, but punitive taxes on second home purchases might be some deterrent.

It’s possibly not as crazy as it sounds. All the big hotels locally have staff accommodation. Gleneagles/ Crieff hydro both have hundreds of workers paying around £70 quid a week for room and full board. If you are going to recruit hundreds of staff (especially for tough physical roles at not much more than min wage) in a place with a small population and no rentals then you need to be able to offer accommodation.