While demand for properties within commuting distance of London was strongest, prime country homes in every region of England climbed for the first time in two-and-a-half years during the quarter, according to a reported published by Savills Plc last week. Last Chance This is your last chance to buy before stock goes down and prices really start to rise, Yolande Barnes , director of residential research at the London-based broker, said by phone. Current offerings of theirs include Park Place , an eight-bedroom period house on the edge of Windsor Great Park with cottages and stables on about 15 acres (6 hectares). The property, about an hours walk from Queen Elizabeth II s Windsor Castle and close to English private school Eton College, is priced at 20 million pounds. Savills, along with Hamptons International, is also selling Bayfields Farm, a country house in Hampshire, about 30 miles from Highclere Castle, where TV show Downton Abbey is filmed, for 2 million pounds. The value of U.K. luxury homes had plunged in the wake of the 2008 collapse of Lehman Brothers Holdings Inc. and the ensuing credit freeze and recession. Average prices of homes in Londons most expensive neighborhoods fell 25 percent in 2008, while those in the countryside declined 20 percent, Knight Franks Bailey said. Mortgages of more than 500,000 pounds to home buyers dropped by almost 50 percent between 2007 and 2008, according to the Council of Mortgage Lenders . Affluent Foreigners Londons property market began to recover in 2009, in part because of affluent foreigners seeking a haven from turmoil in the Middle East and the wider European debt crisis.
The EU’s executive has also requested a tougher restructuring plan, which Monte dei Paschi unveiled earlier this month. Failure to convince investors to subscribe to the capital increase will result in nationalisation of the bank as the state aid was offered in the form of convertible loans that would be turned into equity. So far French Insurer Axa (PAR:CS), which has a long-standing partnership with Monte dei Paschi and is also an investor, has said it will join the planned capital hike, taking a stake that it is proportional to its 3.73 percent investment in the Siena lender. Monte dei Paschi Chief Executive Fabrizio Viola said earlier this month a formal road show with investors was likely to start only after the bank’s third-quarter results on November 14. Monte dei Paschi declined to comment. (Reporting by Sophie Sassard in London and Silvia Aloisi in Milan, Writing by Lisa Jucca; editing by David Evans) @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the “Enter symbol/company” at the bottom of this module. You need to enable your browser cookies to view your most recent quotes. Search for share prices Associated Press Speaker John Boehner and other top House Republican leaders intend to vote for the bipartisan agreement worked Terms Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges . Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page .
The campaign was launched this week by Mayor Michael Nutter and the Philadelphia Convention & Visitors Bureau. Email | Twitter | Google+ | LinkedIn London cabs are bearing advertising promoting Philadelphia. The campaign launched this week by the city, the airport and the Philadelphia Convention & Visitors Bureau is promoting Philadelphia as a destination for trade, conventions and leisure travel. Next month Mayor Michael Nutter will take a trade mission to London and Tel Aviv, Israel. In London, hell attend the World Travel Market trade show, where some 47,000 travel professionals are expected. Philadelphia will have a group at the London show, including Jack Ferguson , president and CEO of the Philadelphia Convention & Visitors Bureau. The delegation will host an event for airline executives, urging them to add international flights to Philadelphia International Airport a move that could net business and leisure travelers. Through these relationships, we will attract new international travelers, students, investment and trade opportunities for Philadelphia businesses, and create new jobs for Philadelphians, Nutter said. Nutter and Ferguson will attend the World Travel Markets ministerial dinner on Nov. 5. It will include tourism ministers from around the world. The magnitude of this mission is powerful with so many partners from various business sectors coming together to promote our great city as a hub for trade, travel, education and innovation, while positioning Philadelphia a world-class destination, Ferguson said.