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London developers forced to cut prices to draw buyers

Some 54,000 apartments coming onstream at a time when foreign demand is waning

While demand for new homes in the UK was strong in the past six months, market uncertainty and high stamp duties have caused London transactions to shrink.


LONDON residential property developers have been forced to cut prices and offer incentives to attract buyers.

Selling and buying agents as well as independent valuers and surveyors  confirmed an assessment by The Business Times last year that Central London apartment prices...