Sign up to The Irish Times Archive (1859 - 2008)My Account »

Lenders around the world are foreclosing  on mansions and estates and selling  them off at big discounts, writes JUDITH MATLOFF

ARJAN BUIKEMA has been in love for five years. He has yearned and lusted. And soon, perhaps in just a few months, he will finally realise his dream. The object of his affection is a plot outside Cape Town. It’s in a sought-after area and has a glorious sea view. He has done his research: the owner’s debt outweighs the value of her various properties and she’s been trying to sell this one for more than a year.