There are warning signs that the luxury property market is coming down from a high,and calls for greater transparency of ownership could topple it furtherFrom New York to London the air seems to be getting a itsy-bitsy thinner at the dizzy heights of the property market.
The collapse of a 78-myth “shadow-maker” condo development in an exclusive enclave of the Upper East Side of Manhattan is sending shockwaves through the city’s genuine estate market. And in London the decision to hold back the sale of apartments in the landmark Battersea Power Station development has also rattled already nervous buyers, sellers and developers.
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Source: theguardian.com