A “two-speed” property market across Europe will expand in 2011 because investment hot-spots like London broaden the gap on strugglers like Dublin, Athens, and Lisbon, as per the industry forecasts.
the newest budding trends report by accountants the Urban Land Institute and PricewaterhouseCoopers and says that the anxious investors will put funds into property in “winning cities” as threats over the euro zone debt crisis persists,
“With investments so risk-hesitant, winning cities such as Paris and Lomdom will keep on to absorbing investment as the only areas where demands of the tenants will be vigorous.
As per the report, which researched the views of 600 property professionals cities like Dublin will be abandoned by investors. Even in the UK, the market will be divided between more lively areas in the South East and London and the rest of the country where spending cuts nibble hardest, with exclusive assets considering the strongest demand.
One respondent said “London is a country in itself and seems to defy gravity. Regionally, it is going to be ugly. The High Street will be pressured to maintain itself,”.
Bank lending is set to stay firm even though the gap could be partly plugged by independent Asian investors and wealth funds , the report adds.
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