No less than 64% of the UK's top lending institutions are predicting that the current credit crunch will last for six months, with over 35% saying it will last for at least a year, according to a survey by UK consultancy firm GVA Grimley. The Bank Lending Survey, carried out in December 2007, polled banks with total annual loans to the property sector of close to GBP 35 bn (EUR 42.8 bn).
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
