File photograph shows houses in London October 7, 2013. REUTERS/Stefan Wermuth
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Plans to build luxury homes in London have increased to the point where it will become difficult for some developers to find builders for their projects, consulting firm EC Harris LLP said. Developers aim to construct more than 25,000 luxury properties in the city worth more than 60 billion pounds ($96 billion) over the next decade, compared with a pipeline of 20,000 homes a year earlier, EC Harris said in a report Tuesday. About 1,300 luxury homes will be completed in London in 2014, more than 700 less than EC Harris had predicted last year, as construction, design and procurement delays slow deliveries, the report said.EC Harris, based in London, defines luxury homes as those that will sell for 1,350 pounds a square foot or more.
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