[paxys]

While not good for the local housing market for sure, the country does gain from a ton of foreign illicit income being converted to its own currency and an easily seizable asset conveniently parked within its borders.

Cities and counties can also implement vacancy taxes and such to somewhat lessen this problem.

[ClumsyPilot]

How does it benefit uk to launder proceeds of crime and squeeze productive citizens out, forcing them to travel further and pollute more?

[lupire]

That's only true of the property actually is siezed (or taxed) and put to good use, which it isn't, because it's not nation vs nation so much as it's global ultra wealthy vs global everyone else.