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Prime property, slow sales: why London’s stock of empty high-end flats is piling up (www.theguardian.com)

submitted 16 hours ago by Arwu@programming.dev to c/london@feddit.uk

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[–] 9point6@lemmy.world 4 points 16 hours ago

As a result, building these high-end homes is becoming increasingly hard to justify commercially for developers.

Fina-fucking-ly

It's been decades of this farcical construction of new residences that are actually just intended to function as overpriced speculative assets