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London luxury-home price gains slow after property-tax increase

Posted on 06 June 2012

Luxury-home prices in central London rose the least in nine months in May, after the British government increased a tax on purchases of 2 million pounds ($3.1 million) or more, Knight Frank LLP said.
Values of houses and apartments costing an average of 3.7 million pounds climbed 10.7 percent from a year earlier, the London-based broker said in a report today. That was the smallest gain since August 2011. Prices rose 0.7 percent from April, bolstered by buyers from mainland Europe………………………………………..Full Article: Source


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