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<p>Regarding property purchase on the South Bank of the Thames the Government does
not hold the data requested. However, recent research reports from the LSE and York
University show that, in London, between 13-20 per cent of new builds were sold to
individual foreign investors. The Government recognises concerns in some regions about
the impact foreign purchase of property have on the availability of property for UK
residents and is keeping the situation under review.</p><p>The Government is committed
to ensuring that the UK property market is hostile to illicit finance whilst ensuring
burdens on legitimate businesses are minimised. Legal professionals involved in the
buying and selling of real property are covered by UK money-laundering regulations
and must conduct customer due diligence checks, including identifying and verifying
their clients and conducting on-going monitoring, including, where necessary, checking
the source of funds. The regulations were comprehensively updated in 2017 and we’ll
continue to keep them under review.</p>
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