Monday, Dec 07, 2009
Mainstream Media talks Double Dip!
Telegraph: Will Dubai's problem's affact property 'recovery'?
Estate agents are preparing for some of London's finest properties to be put up for sale because of Dubai's financial troubles.
Research last week by property agents CBRE claimed that £79bn of UK property debt is "poor quality", while HSBC said roughly 85pc of loans made to the sector in the last five years are breaching covenants and £132bn of new equity needs to be found. Property values, they warned, will fall by up to 16pc in 2010.
Matthew Grefsheim, director of special servicing at restructuring specialist Hatfield Philips, said: "The skeletons in the closet present the risk of a double dip"
Posted by matt @ 11:41 AM (325 views) Add Comment
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