Nov
08
Unsold New London Luxury-Home Glut to Reach Record on Oversupply
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Completed unsold homes more than double since start of 2015
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Inner London home starts are still too high, Molior says
The number of unsold central-London homes under construction will reach a record high this year, increasing the risk that developers’ bets on rising demand for luxury properties will go sour.
Homes being built without a buyer secured will reach 10,829, a 24 percent rise from the end of last year, according to a report by Molior London seen by Bloomberg News. That’s the highest figure since the researcher started collating the data in 2009. The number of completed unsold homes will jump to 779 from 285, the data shows. A spokesman for Molior declined to comment…
Unsold New London Luxury-Home Glut to Reach Record on Oversupply
