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Sat05192012

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Real Estate

Euro zone turmoil boosts London property stampede

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(Reuters) - Worsening financial and political turmoil in southern Europe caused a surge of interest in London property last month with buyers from Greece and Spain showing strongly among investors seeking a safe haven for their money.

The number of Greeks searching for homes costing more than 1.5 million pounds on the website of property agent Savills (SVS.L) jumped 39 percent in April compared with the average of the preceding six months, the company said.

Big Property Bargains in Bulgaria's Bansko, Prices in Freefall

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Property prices in Bulgaria's biggest ski resort of Bansko are in freefall and with the exit of British and Irish buyers, Russian investors now dominate the market, putting to good use their bargaining skills, a survey shows.

Many Bulgarian and British investors, who have been lured into Bansko ski properties with no exit in sight, are seeing their dream come to a sorry end and scramble to attract the attention of Russian buyers.

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