“The market for high-end homes is suffering from a lack of demand and too many properties for sale, French-language daily Le Matin reported this week. The Collins’ residence was just one example of luxury estates in the Lake Geneva area that are not fetching the prices sought by vendors. ‘The demand is less strong these last few months,’ Cyril Aellen, chairman of the Geneva real estate chamber, is quoted as saying by Le Matin. In the upscale Geneva municipality of Cologny, no fewer than 20 mansions are for sale. And Le Matin notes that the luxury market has faced a sharp slowdown in activity over the past 10 months.
http://www.thelocal.ch/20130820/market-for-luxury-swiss-homes-turns-downward
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