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14
DEC
2015

Thousands of London flats to come back on to the market, estate agent says

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Linkedin 151124Thousands of unbuilt flats and apartments could come back on to the London property market over the next two years as foreign investors seek to cut their losses, according to a new study.

In their latest report on the residential market, researchers at estate agent Cluttons said a large volume of newbuild stock was flowing on to the off-plan resales market, “as buyers, particularly those of an international flavour, try to exit the market as currency advantages, especially for those from emerging markets, fade”.

Cluttons’ head of research, Faisal Durrani, said he had seen figures suggesting 60,000 residential properties were due to be finished in London during 2016 and 2017, and said that about half of these were likely to be owned by overseas investors who would return them to the market.

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