http://www.bloomberg.com/news/2011-06-21/paris-housing-market-stalls-as-record-high-prices-deter-buyers.html
SS says
Last month there was news that Paris was the most expensive luxury market in the world and that it would retain that spot and people would still be buying.
“The flow of money, which was almost euphoric, has halted,” said Laurent Lakatos, the founder of London-based Databiens. “There’s been a pickup in the number of apartments offered at a discount.”
Prices of luxury homes in Paris rose at the fastest rate in the world in the first quarter, according to an index compiled by London-based broker Knight Frank LLP. Properties there worth more than 2 million euros appreciated by 22 percent from a year earlier, faster than in next-placed Hong Kong, Helsinki,Shanghai and Beijing, the firm estimated.
SS says
Last month there was news that Paris was the most expensive luxury market in the world and that it would retain that spot and people would still be buying.
“The flow of money, which was almost euphoric, has halted,” said Laurent Lakatos, the founder of London-based Databiens. “There’s been a pickup in the number of apartments offered at a discount.”
Prices of luxury homes in Paris rose at the fastest rate in the world in the first quarter, according to an index compiled by London-based broker Knight Frank LLP. Properties there worth more than 2 million euros appreciated by 22 percent from a year earlier, faster than in next-placed Hong Kong, Helsinki,Shanghai and Beijing, the firm estimated.
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