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Wealthy foreigners are pricing Londoners out of their own city, says er... husband of Madonna (who owns six homes in the capital)
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23 April 2008
But perhaps Madonna should check with her husband before buying any more bricks and mortar on our side of the pond.
Guy Ritchie has made some scathing comments about wealthy foreigners he accused of flooding the property market with "new money".
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Wealthy native: Guy Ritchie and his wife Madonna own six properties in central London
The 39-year-old film-maker complained that it is "now almost impossible" for natives to buy a home in the capital.
He seems to have conveniently forgotten about his U.S.-born wife's £20million worth of London property.
Instead, he blames "Russian oligarchs" for "doubling the price on everything".
Ritchie said in an interview with the film magazine Empire: "House prices don't go down, they just go up.
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One of Madonna and Guy's properties is this £7m family home in Marylebone
"The natives of England are sort of being left behind because the big money came in and if it wanted something it bought it and made a bigger fortune doing so.
"And as anyone who has tried to buy a house in Central London knows, it's almost impossible to do so unless you have ten million quid."
Mr Ritchie is promoting his gangster film RocknRolla about Russian mobsters who wage war over a property deal in London.
He added: "They have a unique way of doing business, which is they don't haggle. They double the price on everything."
His wife also has a tendency to dramatically outbid the opposition.
The singer paid £6million for a house in Marylebone last year next door to their existing home. The price was double that paid by the previous owner in 2006.
Her inflated offer beat off competition from "natives" Jennifer Saunders and Adrian Edmondson.
Madonna, 49, also owns two mews cottages in Mayfair and a 1,200-acre estate in Wiltshire.
The world's highest-earning female pop star also bought two multi-million pound London properties for the Kabbalah sect.
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