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Friday, 22 July 2016

Jitters in London luxury flat market as investors sell for 'bargain' prices | Society | The Guardian

Jitters in London luxury flat market as investors sell for 'bargain' prices | Society | The Guardian:

"The first real signs of distress in the market for luxury London apartments are starting to emerge, as investors who agreed to buy homes off-plan are starting to sell them on for less than they agreed to pay for them.

Property websites are now advertising many unfinished flats being offered for sale by the buyers who originally agreed deals with the developers.

Estate agents and developers are generally coy about how much sellers were expecting to pay on completion, but some listings reveal that people are selling at or below the original purchase price, hoping the “bargain” price might pull in a new buyer."



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