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SVLLY - Savills: Overpriced In The Current Property Market
Savills plc ADR
Savills is a high end property agency headquartered in the U.K. but active globally. Although it’s a well enough run business and durable, its price is still a bit high in my view and does not reflect the severe downturn in the property market which we can expect in coming quarters. I don’t get into the details of the downturn in this article, but take it as read based on the vacancy rates, default rates and lower transaction volumes we are seeing globally.