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Tax may dim London's allure for foreign property buyers

Frequent changes to property-tax law and the spectre of more levies are putting off buyers from abroad

Snapped up: Battersea Power Station Holding raised a £790 million syndicated loan to develop and refurbish the first phase of the site after it pre-sold about US$1 billion of apartments and townhouses in May. - PHOTO: BLOOMBERG

[LONDON] A NEW capital-gains tax on homes sold by people living abroad, plus a growing British economy that's lifting the currency, may dull London's appeal to property buyers from abroad. But the government "will put people off by changing the rules constantly and making it less tax-friendly