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Grosvenor says Spanish property prices need to fall another 40%

Posted on 03 July 2009

From Bloomberg: Grosvenor Group Ltd., the real-estate company of Britain’s third-wealthiest man, said commercial- property prices in Spain need to fall by as much as 40 percent before it will consider investing there again.

Grosvenor, owned by the Duke of Westminster’s family trust, became a net seller of Spanish real estate when the market peaked three years ago……….Full Article: Source


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