A report from global property company Savills says the global property market boom could come to an end in 2016.
According to the report, economic uncertainty and spillover concerns from China’s current stock mess have real estate investors worried about the market.
Tack on last month’s Fed rate hike, and you'll see why Savills believes people will be less willing to invest and buy property in 2016.
Multiple insiders have voiced concerns over market conditions; billionaire investor George Soros said it's "2008 all over again," while real estate tycoon Sam Zell's been unloading real estate assets in fear of another downturn.
Despite the market turbulence, Savills says the year finished strong and "market fundamentals remain sound.” [BI]
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