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London’s Mega-Mansion Buyers Find Bargains Hard to Come By

  • Discounts to asking prices narrow to smallest in four years
  • Spending on $13 million-plus homes rose in first eight months
Luxury residential townhouses stand overlooking Regents Park in London in 2019.

Luxury residential townhouses stand overlooking Regents Park in London in 2019.

Photographer: Bryn Colton/Bloomberg
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Wealthy buyers of mansions and penthouse apartments in London are finding that the pandemic isn’t throwing bargains their way.

Luxury homes that changed hands for more than 10 million pounds ($13 million) in the second quarter sold at an average 95% of their asking prices, according to latest data from broker Knight Frank. That was the smallest discount since the end of 2016 as many sellers refuse to budge.