Priciest London luxury homes lose their shine

[LONDON] Price gains for London's most expensive homes have stalled this year as concerns about possible tax increases and high asking prices put off even the super rich.

Houses and apartments valued at more than £15 million (S$30 million) showed almost no gain in the year through September, compared with a rise of about 5 per cent for properties from £1.8 million to about £5 million, real estate broker Savills Plc said in a report.

Luxury residences outside central London rose by about 10 per cent.