Euro break-up 'could wipe 50pc off London house prices'
From telegraph.co.uk
A break-up of the euro could see London property prices halve as the world’s wealthy house buyers look elsewhere once more, say economists. Property prices in the capital’s most sought-after postcodes have been driven up by investors moving funds out of assets held in euros to buy into what is seen as a “safe haven” alternative. Foreign money seeking a refuge from the wider economic turmoil accounted for 60pc of acquisitions of prime central London property between 2007 and 2011, according to a report by Fathom Consulting for Development Securities. If the shared currency broke up completely, London property would ...
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