Pursuits
Record Premiums Paid for Luxury New Apartment Projects in London
- Average new apartments in Kensington now cost $5.2 million
- Total London home sales fell 24% in May from year earlier
Re-Development of Battersea Power Station
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London developers are achieving record premiums for new apartments even as sales slow.
The decision by developers to build larger properties in the best districts has resulted in the biggest price gap between new and existing apartments, according to data compiled by the Land Registry and broker Savills Plc.