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Thu 08 Aug 2008Manhattan seeks foreign buyers to rescue market
OVERSEAS PROPERTY:Prices in New York have fallen after a decade of growth. Now developers there are targeting buyers around the world to bolster a market hit by Wall Street's sagging fortunes
STRATOSPHERIC HOUSING prices in Manhattan, which until recently was one of the few markets in the US that had escaped the housing slump, have long been propped up by foreigners eager to live and invest there. The weak dollar has helped to encourage them still further in recent years.
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