Black Friday comes to London apartments with $88,000 discounts

Shoppers on London's Oxford Street pass a promotional sign for Black Friday sales discounts.
Shoppers on London's Oxford Street pass a promotional sign for Black Friday sales discounts.PHOTO: AFP

LONDON (BLOOMBERG) - Forget TVs and smart speakers, now homebuilders are offering cut-price Black Friday deals on London apartments too.

"Unmissable deals on every home at Highgate Court worth up to £50,000," trumpets a listing by Bellway on property website Rightmove. That equates to S$88,000.

The discounts are available this weekend for the properties in the upmarket neighbourhood of Highgate and prices start at £699,995 for a two-bedroom apartment.

Developers in London face a tough time finding buyers as taxes, fears of a housing market crash and economic uncertainty weigh on demand.

The stock of completed but unsold homes has risen by almost 50 per cent this year, according to data compiled by Molior London.

The homes are about a 15-minute walk from Highgate Cemetery, where Karl Marx and Hitchhikers Guide To The Galaxy author Douglas Adams are buried.

A representative for Bellway declined to comment.