Business & Economy
Prime property, slow sales: why London’s stock of empty high-end flats is piling up
Source: Business | The Guardian · Published
Homes in the West End, Mayfair and Marylebone are going unsold – and developers are counting the cost London has no shortage of luxury flats. There are ultra-modern blocks in the most upmarket neighbourhoods – including Chelsea, Kensington and Mayfair – that offer marble lobbies,
Homes in the West End, Mayfair and Marylebone are going unsold – and developers are counting the cost London has no shortage of luxury flats. There are ultra-modern blocks in the most upmarket neighbourhoods – including Chelsea, Kensington and Mayfair – that offer marble lobbies, concierge services and views across the city’s skyline. The problem for property developers is finding wealthy residents to fill them , leaving brand-new properties in London’s most desirable postcodes standing empty.
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