New Supply can kill any business
A 24-hour butler service. Interiors by Versace. A swimming pool suspended mid-air between buildings. These are some of the unusual features available with new London luxury apartments, tens of thousands of which are being built all over the capital. All that is missing are the buyers.
More than 50,000 homes are planned or under construction in the most expensive areas of London — after a building boom that followed the 2008 crisis, when prime property recovered quickly and overseas buyers piled into the UK capital.
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