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OP here: I heard from people working in hotels that some expensive ones loose millions each year but wealthy people from Arab countries who own them don't care.
by s3nnyy 9y ago
OP here: I heard from people working in hotels that some expensive ones loose millions each year but wealthy people from Arab countries who own them don't care.
- marklit 9y agoTheir assets in Switzerland would be priced in CHF. It could be a good diversification from USD-priced assets they have at home. There was a single-day 30% pop in CHF a few years back.
- charlesdm 9y agoThat generally also has an immediate negative effect on higher end property prices, though. The recent decline of sterling is great for foreigners interesten in acquiring London property -- London will always be London, brexit or no brexit. But it just got a lot more interesting for foreigners with businesses (or investments) abroad to relocate there.