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How do those Pakistanis afford it? watch

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    I'm just looking at London on Google Maps and there are lots of dingy corner shops, fast food takeaways next to main cultural attractions, train stations and such. They're run by Pakistanis and non-native British people. How on Earth can these people afford to buy a corner shop in central London when it's probably worth millions of pounds now?

    Did they buy it like 60 years ago when their family first came to London from abroad? :confused:
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    (Original post by Uncouth body)
    I'm just looking at London on Google Maps and there are lots of dingy corner shops, fast food takeaways next to main cultural attractions, train stations and such. They're run by Pakistanis and non-native British people. How on Earth can these people afford to buy a corner shop in central London when it's probably worth millions of pounds now?

    Did they buy it like 60 years ago when their family first came to London from abroad? :confused:
    Im from Asian heritage but I know for sure its because of properties in cities like Dubai and South Asia.Basically the whole family invests in lets say a Villa or a house in Dubai about 15 years ago(Which would have been cheap at the time) and they put it on monthly rent .And after a few years as house prices increase the rent increases.So then they can afford the stereotypical corner shop or restaurant. Thats why you see them driving White BMWs and Mercedes ,in which some of us thought it was drug money
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    (Original post by 061194)
    Im from Asian heritage but I know for sure its because of properties in cities like Dubai and South Asia.Basically the whole family invests in lets say a Villa or a house in Dubai about 15 years ago(Which would have been cheap at the time) and they put it on monthly rent .And after a few years as house prices increase the rent increases.So then they can afford the stereotypical corner shop or restaurant. Thats why you see them driving White BMWs and Mercedes ,in which some of us thought it was drug money
    Well this makes sense. I saw Dubai on the TV. Apparently, it's becoming the world's wealthiest city. I guess when their theme park is built, which is going to be the biggest in the world, house prices will go up even more. Everyone should buy a house in Dubai and soon it'll be worth millions!
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    (Original post by Uncouth body)
    I'm just looking at London on Google Maps and there are lots of dingy corner shops, fast food takeaways next to main cultural attractions, train stations and such. They're run by Pakistanis and non-native British people. How on Earth can these people afford to buy a corner shop in central London when it's probably worth millions of pounds now?

    Did they buy it like 60 years ago when their family first came to London from abroad?
    :confused:
    I believe so. My neighbours who are of Pakistani heritage own a off-licence near Canary Wharf, their dad bought the place more than 60 years back when prices were dirt-cheap and renovated it etc.. Worth a few bob now but nowadays I am seeing more and more Turkish business people within London
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    (Original post by Uncouth body)
    Well this makes sense. I saw Dubai on the TV. Apparently, it's becoming the world's wealthiest city. I guess when their theme park is built, which is going to be the biggest in the world, house prices will go up even more. Everyone should buy a house in Dubai and soon it'll be worth millions!
    Its smart and tactical business ,as prices increase for houses they can just tweak up the rent prices .Imagine buying a villa next to the beach with a swimming pool in Abu Dhabi in 1995 for £10,000 . Put it on rent.
    At the start the rent was about £500 a month then. 2005 it was near £1,300 .2014 it was about £2k. Your making about£20,000 a year from property in a different country,you could buy another property and get more.
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    (Original post by Stefano93)
    I believe so. My neighbours who are of Pakistani heritage own a off-licence near Canary Wharf, their dad bought the place more than 60 years back when prices were dirt-cheap and renovated it etc.. Worth a few bob now but nowadays I am seeing more and more Turkish business people within London
    Don't forget that they are also unwilling to sell their property considering the number of property developers there are hounding such people. Which is great, as they know how not to get cheated out of a property worth keeping for the long term.
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    Pakistani immigration to the UK took off during the 1950s and 1960s. So, yes, it was 60 years ago. You could then pick up properties for a much lower multiple of income than you can now, plus it was mostly economic migration by families with some money anyway. They typically bought properties in cheap area; many of these have since picked up as part of the natural cycle of property prices.

    They worked all the hours God Allah sends, staffed the shop with their own family, took a lot of abuse, delivered a consistent service, sold us what we wanted when we wanted it, saved up and spent their money sending the children to university to become doctors, accountants and lawyers.

    It was an excellent example of integration with a lot of patience and hard work put into it by the Pakistani community, especially with the work they put into ensuring the second generation knew they were most definitely British.

    Of course, it's all gone belly up since then but that's nothing to do with the Pakistani corner shop generation. I believe that to be people who came after 2001.
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    (Original post by Simes)
    Pakistani immigration to the UK took off during the 1950s and 1960s. So, yes, it was 60 years ago. You could then pick up properties for a much lower multiple of income than you can now, plus it was mostly economic migration by families with some money anyway. They typically bought properties in cheap area; many of these have since picked up as part of the natural cycle of property prices.

    They worked all the hours God Allah sends, staffed the shop with their own family, took a lot of abuse, delivered a consistent service, sold us what we wanted when we wanted it, saved up and spent their money sending the children to university to become doctors, accountants and lawyers.

    It was an excellent example of integration with a lot of patience and hard work put into it by the Pakistani community, especially with the work they put into ensuring the second generation knew they were most definitely British.

    Of course, it's all gone belly up since then but that's nothing to do with the Pakistani corner shop generation. I believe that to be people who came after 2001.
    Why is God crossed out and replaced with Allah? Not all Pakistanis are Muslims, as far as I know, my Grandparents were born Christians.
 
 
 
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