London councils have granted property developers planning permission to build more than 26,000 luxury flats priced at more than £1m each, despite fears that there are already too many half-empty “posh ghost towers” in the capital.
Builders are currently constructing towers containing 7,749 homes priced between £1m and £10m, and have planning rights to build another 18,712 high-end apartments and townhouses, the Observer can reveal. Politicians and housing campaigners said the figures show councils are prioritising the needs of the super-rich over those of hardworking young Londoners. The boom in developments of luxury flats, which often include private cinemas, gyms, swimming pools and concierge facilities, comes as the capital faces a growing crisis in the availability of affordable housing, with nurses, police officers and other essential workers struggling to get on to the housing ladder.
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