Pursuits
It's Free Gift Season in the London Property Market
- London home values may drop as much as 10 percent in 2017
- U.K. homebuilders offering to pay sales tax for buyers
U.K. Property Market Proves Hardy Following Brexit Vote
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London homebuilders are offering to pay sales taxes, gift 20,000 pounds ($26,800) of furniture and the chance to win a free parking space as Britain’s vote to leave the European Union damps demand.
Brexit will damage the U.K. economy and residential property values in London could fall by more than 30 percent, Societe Generale SA analysts including Marc Mozzi wrote in a note to clients on Monday. U.K. homebuilder sales will drop by 5 percent, according to Barclays Plc analyst Jon Bell.