New research conducted by the transparency group Global Witness has been released, suggesting that over GDP £100 billion of property in the UK have undisclosed or ‘secret’ owners. Data analysists found that just under 90,000 properties are currently owned by anonymous companies or entities registered in tax haven jurisdictions.
The analysis reveals that just under half of the properties are based in London or the surrounding areas. Knightsbridge, a high-end area of London where average property prices exceed GDP £3 million, was found to have the highest concentration of undisclosed property owners. Buckingham Palace Road is also home to a large number, with a combined assessed value of over GDP £350 million.