London luxury housing market sees prices fall over 20 percent since 2015

8 articles · Updated · The New York Times · Apr 25

A series of new taxes have pushed down central London property prices and driven away international buyers, who once comprised nearly half of prime neighborhood homeowners.
As prices fell, many smaller landlords exited the market, removing tens of thousands of apartments and tightening supply, which has led to record-high average monthly rents.
Economists and real estate agents warn that New York’s proposed pied-à-terre tax could trigger similar consequences, potentially harming the city’s housing market and affecting middle- and lower-income residents.

Will the new 'pied-à-terre' tax drive wealthy investors and their capital away from New York for good?

Could a tax on vacant luxury homes inadvertently harm the city's construction industry and middle-class jobs?

Is this tax a real solution for NYC's budget or a distraction from its deeply flawed property tax system?

Will the tax exemption for rented properties actually increase housing supply or just create new legal loopholes?

How can a tax on $5M+ homes work when the city's official property assessments are notoriously inaccurate?