New year, new investment?, Financial Times
27 December, 2008
The unravelling of international financial systems and
subsequent contagion into the broader world economy has clearly
inflicted multiple wounds on residential property markets. Even the
luxury end has been hit as high-net-worth individuals watch their
investments in shares and, most recently oil, nosedive. The cost of
existing debt has risen and new credit lines have become rarer and
tighter. And we have seen huge and rapid currency fluctuations,
which have a big effect on cross-border purchases.
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