Luxury flats go cheap as market suffers

Buyers of some of London’s most luxurious flats are being offered big discounts and incentives as demand stalls. Sales of flats over £700,000 in the capital are almost at a standstill at some schemes. At Parliament View on the Thames, the biggest cut for a penthouse saw almost £400,000 knocked off of its £3.245m price tag. In Mortlake, Berkeley Homes has offered to pay the stamp duty on sales at its prestigious 9 Albert Embankment development. References: Financial Times 08/02/03 page 3