23 Mar 2010Blog

World’s luxury-home prices drop on financial crisis (update 1) – Bloomberg.com

by Jonathan

Luxury homes became more affordable last year as the financial crisis eroded prices from Monaco to Barbados, according to Knight Frank LLP.

Prime real-estate values at 56 locations declined by an average of 5.5 percent, the London-based property broker said in a report published today. Monaco was the most expensive market for the second year in a row, followed by London and Paris.

via World’s Luxury-Home Prices Drop on Financial Crisis (Update1) – Bloomberg.com.