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IKEA has already entered the real estate market with its flatpack US homes, but now the company is assembling something much bigger: a town. Strand East, near London's Olympic Park, will house 6,000 people in an effort to provide affordable accommodation. But bargain-hunting Brits still have their sights set overseas, as research reveals 25% of buyers believe it is cheaper to own a property abroad than in the UK.
The French property market may be on the verge of cooling down, some experts believe. A report from Global Property Guide suggests that the country’s upcoming presidential elections combined with the euro crisis have prompted investors to become more cautious in 2012.
House prices in the UK fell by 1 per cent in 2011 and by almost a third since 2007, according to the RICS European Housing Review 2012.
The average price of French Riviera property has fallen below €2m for the first time in history, according to the latest Luxury Property Index. Price drops in 2011 drove sales up by 16 per cent, but the cost of prime Riviera real estate is now at an all-time low of €1,925.383.
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