More than 50% of flats in city held by investors

A survey conducted by real estate research firm Liasas Foras shows that a huge 52% of homes have been bought by investors and not by those who need them.

This means that most of the flats in the city are being held by those who want to make money from real estate. The figure is more than twice that in 2009 when the number of investors was just 22%.

Data shows that investors, who comprise the business class and stock markets investors, have paid, upfront, 50% to 100% of the total cost of apartments, which have been acquired at discounted rates.