London Luxury Homes Seen Losing Luster

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Pedestrians walk past residential property on Grosvenor Crescent in... News PhotoCivilian,England,Europe,Expense,Finance,Geographical Locations,House,London - England,Luxury,Occupation,Pedestrian,Residential Building,UK,Vertical,Walking,WealthPhotographer Collection: Bloomberg 2012 BloombergPedestrians walk past residential property on Grosvenor Crescent in the London area of Belgravia, in London, U.K., on Thursday, Nov. 15, 2012. London luxury homes won't rise in value next year for the first time since 2008 as proposals to extend property transaction taxes deter buyers, Jones Lang LaSalle Inc. said. Photographer: Chris Ratcliffe/Bloomberg via Getty Images