London’s property ‘flippers’ forced to sell at a loss

In Earls Court, west London, there is a flat that has just been built. Before anyone even moved in, this three-bedroom apartment had three different owners, and lost one of them almost £400,000.

The flat is part of what will be an 808-home project in Lillie Square, co-developed by Capital & Counties Properties and members of Hong Kong’s Kwok family.

The scheme’s first phase went on the market in March 2014, just as property prices in London were beginning to crest.

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