Developers are reassessing plans for luxury flats, in several cases replacing plans for large apartments with ones involving a higher number of smaller units.
One example involves the New Scotland Yard site. Its developers are discussing an increase in the number of units to 295 from 268. Builders at Chelsea’s Clearings development were recently given permission to increase the number of units there to 78 from 69.
Stamp duty changes are acting as a deterrent to buyers.
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