Rising Sales Figures for Small Properties in London Cause Market Dynamics

The current real estate market in London is experiencing a remarkable increase in listings of smaller apartments, as owners try to preempt an impending rise in their tax burden. This development could significantly impact property demand in the coming year, according to assessments by the platform Rightmove. In the past four weeks leading up to December 7, the number of newly listed homes with a maximum of two bedrooms increased by an impressive 20 percent. These properties are particularly popular with first-time buyers, who can currently benefit from a favorable stamp duty exemption for purchase prices up to £425,000 (approximately $537,000). This market development is particularly significant as it has the potential to change the dynamics of the real estate market in London. It remains to be seen how the upcoming tax adjustments will actually affect the purchasing power of prospective buyers.