A mathematical model that considers a block of 100 flats in London shows that the British state adds £442,000 (57%) to the average sale price of each new flat, which is £775,000.
£195,000 for subsidized housing for people who cannot afford to live in London.
£89,000 for mandatory building requirements.
£62,000 for planning costs.
£96,000 for taxes, fees and funding delays.
Actual construction costs are just £178,000 per flat. Buyers pay more to subsidize housing for others than it costs to build their own.