Financial Times FT.com

Second homes face price fall

By Jim Pickard in London and Mark Mulligan in Madrid

Published: September 28 2007 18:41 | Last updated: September 28 2007 18:41

The price of second homes in the Mediterranean and eastern Europe could fall as a result of the credit crisis, a leading property expert has warned.

Michael Ball, a professor of property at Reading ­University, England, and an adviser to the UK government, said holiday homes in many parts of Europe were exposed to a correction.

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