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Chester Square, Belgravia, London, where multimillion-pound properties are proving a hard sell. Photograph: Simon Turner/Alamy

In Chester Square, the exclusive London address that was once home to Margaret Thatcher, multimillion-pound stuccoed townhouses are proving a hard sell.

More than 20 luxury properties in the Belgravia postcode are on the market, says a buying agent. In nearby Montpelier Square in Knightsbridge, less than a 10-minute walk from Harrods department store, nine houses are on the open market.