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Buy Abroad News

06 Apr 10

City centre property prices see an increase

Despite the property downturn worldwide in 2009, city centre properties have seen a price increase of 0.4%, although other styles and locations of second homes have had their prices significantly fall. Findings from the annual Wealth Report from Knight Frank found that the top performers like London up 6.1%, Johannesburg up 17% and Hong Kong up 40.5% were actually among the 2008’s worst performers. It is believed that city centre property has been more popular with buyers because of the uncertain economic environment and the supply of cheap properties located in prime positions in capital cities.

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