Property service charges soar to average £2,777 per year for new-builds

Management companies are hiking maintenance charges and ground rent fees, according to insurer’s researchBuyers of apartments in new-build towers not only have to pay sky-high prices but also face soaring annual service charges that now average £2,777 a year, according to new research.Some of the worst service charges are found in new apartment blocks lining the River Thames in London, where residents will have to pay nearly £7,000 a year on a two-bed flat.Related: Glut of new-