Property News · October 17, 2016

Sales of luxury London properties collapsed by 86% in past year


Developers scale down most opulent projects, with newbuilds divided into smaller homes, as increased taxes blamedBillionaires are shunning the London luxury property market, with sales of “super prime” £10m-plus homes in the capital collapsing by 86% over the past year.Just five properties were sold for more than £10m in the three months to August 2016, according to an analysis of Land Registry data, compared with 35 in the same period a year earlier. Outside of London, not a single property was sold for more than £10m, compared with ten last year. Continue reading…

Source : theguardian.com
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