LONDON:- Survey of 485 real estate investors sees UK capital slump to 15th spot on fears over exposure to financial sector.
Moscow and Istanbul have displaced London and Paris as the top-ranked cities for real estate investment prospects, according to a Price water house Coopers survey published today.
This is the first time in the survey’s five year history that London has not featured in the top two. Paris still makes the top five behind Hamburg and Munich, but London has tumbled to 15th in the rankings from second in 2007.
Moscow and Istanbul also topped the development prospects league table, as survey respondents cited the need to investigate new markets. However, Moscow was ranked the riskiest city in the survey, followed by Athens and Budapest.