Property market correction over as prices hit bottom
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An end to the lull in the property market which analysts have described as market price correction is imminent as prices hit the bottom at the high end market, the worst hit by the impact of the lingering economic meltdown.
The correction which has been substantial has seen property prices drop by between 30-35 percent in such high brow areas as Banana Island and Parkview, both in Ikoyi; Lekki Phase One, Victoria Island and even some upscale neighbourhoods where property and rental values had seen outrageous appreciation.
The combined impact of the capital market crash and the near-crash in world oil prices dragged prices down in the market that had recorded between 100-200 percent appreciation in six to 12 months before the last quarter of last year.
The combined impact of the capital market crash and the near-crash in world oil prices dragged prices down in the market that had recorded between 100-200 percent appreciation in six to 12 months before the last quarter of last year.
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volatile 2010 I didnt mention the word small in my comment ! click on the "source" button to see who "published" the report LAND IN RANGSIT This is very un accurate report rental property- tenants not told of foreclosure-pending sale Apply for one of these 1 Euro houses www.PropertyMarket.eu World Capital Markets
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