Buyers seek out cheaper ‘trophy’ homes
Date : 07 June 2010
Wealthy buyers can now negotiate significant discounts on “trophy” homes – prime properties worth more than £10m – as demand from British house-hunters has fallen, according to buying agents.
Trophy homes were in high demand before the credit crunch but a lack of mortgage finance, unstable financial markets, and a pending emergency Budget have all contributed to a slowdown in parts of the prime market.
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