News that £21 billion worth of German property fund assets have been frozen could seriously impact on the UK property market. It was revealed that the between Tuesday and Friday of last week 11 German-based property funds suspended the right of investors to cash in their units for between three and six months. These so-called open ended investment companies have been a very popular property investment vehicle for some time When you consider that some of the names involved in the frozen assets include AXA, UBS and Morgan Stanley you start to get a picture of how serious the situation could be. So what are the implications for the freeze on redemptions for both investors and underlying property markets?
