London apartment developers are increasingly offering a range of incentives to attract buyers, including Stamp Duty contributions, paid estate-agent fees, service-charge holidays, and mortgage subsidies. Other offers include reduced deposit deals, cashback, furniture packages, and legal-fee contributions.
This comes as apartments across London, especially new developments, are experiencing excess supply. Developers such as Barratt London, Bellway, Berkeley, and Galliard are among those providing these packages to move unsold stock.
In the upper end of Prime Central London, properties above £15-20 million have seen real values decrease by up to 25% in some cases. This decline is more pronounced for un-refurbished properties, while beautifully finished homes are proving more resilient.