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09/02/2016

For sale 2-bedroom apartment located on the 2nd floor area of 55 m2, in a quiet area of Imatra, Finland. The apartment has a living room with balcony, bedroom, kitchen with built-in furniture and appliances, bathroom, dressing room, built-in wardrobes. Up to the center of Imatra - 3 minutes - 43 500 euro
http://www.sruality.com/Property-details/2-bedroom-apartment-for-sale-selling-imatra-south-karelia-finland-2146

05/11/2015

03/11/2015

Central London Office Market Very Tight, Vacancies at 14 Year Low
According to Knight Frank's newly released Central London Quarterly Report, Central London's office vacancy rate has hit a 14 year low and is expected to achieve historic lows in the next two years. The West End is seeing the lowest vacancy levels since 1989 and it is less now than at the height of the dot com boom in 2000.

London Office Market Highlights:

10.3 million sq ft Central London offices available, down 29% since last year.
West End vacancy rate at 3.4%, lowest since 1989.
Central London vacancy rate at 4.4%, down from 6.2% a year ago.
City vacancy rate at 5.1%, down from 7.3% a year ago.

James Roberts, Head of Commercial Research at Knight Frank says, "The supply situation in central London is now very tight - at a fourteen year low for the capital as a whole, and at its lowest since 1989 for the West End. This is moving the market firmly in the landlord's favor, and tenants are discovering when their leases come up for renewal that they are facing significant rent hikes.

"Consequently, more firms are choosing to be open-minded on location, and are looking at offices in up-and-coming areas, whether it is King's Cross, Aldgate, Shoreditch, or Southbank. Effectively, it is an office market equivalent of what happened in the housing market in the 1980s when young professionals began moving into places like Lambeth and Clapham, and gentrified those areas." - Source: http://www.worldpropertyjournal.com/real-estate-news/united-kingdom/london-real-estate-news/london-office-rents-2015-knight-frank-london-market-report-london-office-vacancy-office-space-for-lease-in-london-central-london-office-market-data-2016-james-roberts-9469.php .r7AV35uu.dpuf

27/10/2015

Central Europe Commercial Investment Spikes 25% in 2014

Cushman and Wakefield reports that commercial investment activity in Central Europe in the first 3 quarters of the year of 2014 is up more than 25% over the same period last year and represents a 42% growth on the 5-years' average. However, the story is even stronger than the data suggests with several large transactions being signed in Q3 but formally closing in Q4 such as P3's acquisition of the EUR 523m industrial portfolio from Tristan Capital Partners and its joint venture partner, VGP. According to Cushman & Wakefield's analysts, this year's volume is likely to reach EUR 7bn.

James-Chapman.png

James Chapman
James Chapman, Partner, Head of CE Capital Markets at Cushman & Wakefield said, "The summer was not a holiday season for investors. In recent years, only third quarter investment volumes in 2011 and the record year 2007 exceeded Q3 2014's level. Given the considerable pipeline of transactions which may close by the end of December, this year's total is expected to be the highest in the last seven years and the trend is set to continue into 2015."

Chapman further commented, "The investment market in Central Europe has moved up a gear in 2014. We are seeing confidence return alongside the tenacity needed to complete deals. The market is on a trajectory to hit volumes similar to the peak of 2007 within the next 2 years. Short-term challenges with over-supply in specific sub-markets will be out-weighed by a structural desire to source long-term, intrinsic value from Central Europe's real estate. This will redefine market pricing expectations and further promote liquidity."

Investment market by country

The highest investment volume in Q3 2014 (EUR 425m) was registered in Poland, which has boasted the strongest investment activity in Central European in each quarter since 2008. However, the Czech Republic is experiencing a significant increase and we have seen Romania (EUR 375m), Slovakia (EUR 325m) and Hungary (EUR 157m) take back market share.

Within this data, there is a further story about the significant growth in investor appetite for regional cities that are showing strong occupier and spending growth fundamentals such as Krakow and Tri-City in Poland. We expect to see this story come through in the data in Q4 and into 2015.

Investment market by sector

WPJ News | CEE Quarterly Property Investment Volumes by SectorIn Q3 2014, the industrial market continued its impressive bull run with 125% volume growth over the 5-years' average. The logistics sector is set to grow with the developing network of roads and motorways and increasing demand for warehouse space reported by e-commerce. The weight of capital looking to invest continues as new entrants from North America and Asia Pacific try to find ways in invest considerable sums.

However, it is the return of retail investment that is set to be the new story for Q4 and into 2015.

James Chapman, Cushman & Wakefield, said: "Retail investment has not yet seen the bounce back experienced in the other sectors. However, investors have woken-up to the exceptional consumer spending growth forecasts for the CE region and prices for quality schemes are increasing including those in regional cities. This is causing sellers to consider bringing strong centres to the market and so we expect to see significant activity during the next 12 months.

Largest deals

The largest investment transaction in Q3 in the CE region was the acquisition of the Eurovea retail and office scheme in Bratislava by the Slovak investment fund J&T. The second largest deal was the portfolio transaction of eleven Real shopping centres in Romania acquired by Auchan.
Source: http://www.worldpropertyjournal.com/real-estate-news/poland/central-european-commercial-invest-2014-poland-property-investment-eruropean-real-estate-news-james-chapman-cushman-and-wakefield-eurovea-bratislava-8552.php .yOhiy5G9.dpuf

Commercial investment activity in Central Europe in the first 3 quarters of the year of 2014 is up more than 25%.

21/10/2015

12/10/2015

14/09/2015

Greek Island of Rhodes Making Luxury Market Comeback
The luxury real estate market on Rhodes is starting to stabilize now that Greece's future in the Euro seems secure, reports international real estate consultancy Engel & Völkers.

Engel & Völkers reports that inquiries for high-end residential property increased by approximately 20 percent.

Georg Petras, partner at Engel & Völkers on Rhodes says, "The financial crisis has had a weaker impact on the price structure of the luxury second home market on Rhodes than on the market for first homes. Luxury holiday residences did drop in value slightly during the crisis. But prices are now on the rise again, thanks to the high demand. From this point of view, now really is the best time to invest in Greek real estate".

Demand is directed at exclusive villas and homes, particularly those close to the coast with direct sea access or exceptional views. Properties with three or more bedrooms, exclusive fittings and substantial land plots are attracting the greatest interest. Buyers of top-end homes in a prime location on Rhodes are procuring a stable asset investment with potential for appreciation in value, in addition to an investment in quality of life, security and retirement provision.

Prices for luxury real estate on Rhodes set to increase

WPJ News | Modern Villa in Rhodes, Greece

Modern Villa in Rhodes, Greece
The trend towards rising prices for luxury properties on Rhodes is already manifesting itself on the island's east coast: Compared to the previous year, Engel & Völkers registered a rise in top prices of 500 euros per square meter to 3,000 euros per square meter for properties with sea views. In the south of Rhodes, prices range from 1,000 euros per square meter for traditional houses to 4,000 euros per square meter for villas with park-like land plots. In the island's prime real estate hotspot Lindos, prices start at 2,500 euros per square meter and are reaching top prices per square meter in excess of 6,000 euros. The center and suburbs of the town of Rhodes are particularly popular with first homebuyers. Prices for existing properties at central addresses range here from 1,600 to 3,500 euros per square meter.

Wealthy foreigners and growing tourist numbers resulting in price stability

The market for luxury and upmarket second homes must be analyzed as a separate entity to the Greek housing market as a whole. In the majority of cases, the owners of holiday homes and luxury residences are wealthy foreigners or Greek expats.

They usually acquired their property with little or no borrowed capital and are therefore under no pressure to sell in most instances. This fosters a natural stabilizing out of prices. The greatest number of enquiries for second homes on Rhodes comes from Germany, Austria and Switzerland. There are also interested parties based in the UK, other central European countries and non-EU nations.

Additional impetus has also come from the island's flourishing tourism industry. A further increase in 2015 is anticipated as well, buoyed by the announcement of even more flight connections.
Sourse: http://www.worldpropertyjournal.com/real-estate-news/greece/rhodes/rhodes-real-estate-market-report-2015-rhodes-greece-luxury-homes-for-sale-in-rhodes-engel-volkers-greece-reforms-greek-financial-crisis-9316.php .gGc4OGJr.dpuf

10/09/2015

Overseas buyer confidence strengthening in Italy
With the euro at a seven year low against the pound and prime prices in some parts of Italy at their lowest level since the financial crisis, buyer confidence is strengthening, it is claimed.

According to Rupert Fawcett, Knight Frank’s head of Italian sales, stock levels remain high. ‘As we move into the traditional spring selling season, more good quality homes are coming onto the market. Not only are vendors being more realistic on price but in some cases prices are 30% below their 2009 peak, with even larger margins being observed in areas such as Umbria and Lombardy,’ he said.

‘There is a growing sense that prices have reached the bottom of the curve and that whilst we are unlikely to see price growth in the short term, we are also unlikely to see significant falls. Sterling and the dollar are now at record highs against the euro making a second home purchase in Italy even more attractive to buyers from the UK, the US and increasingly amongst expats who have relocated to Asia,’ he explained.

He also pointed out that the European Central Bank’s decision to introduce quantitative easing at the end of January may ultimately lead to a stronger Euro but it has, for the moment, strengthened confidence amongst Eurozone purchasers. The Greek election result by comparison has had little impact on enquiry levels.

All of these contributing factors have led to a visible increase in enquiries and viewing numbers. The number of viewings generated by Italian properties on Knight Frank’s website jumped 31% between December and January. ‘This is an indication that recent currency fluctuations and the ECB’s shift in policy is impacting on buyers’ minds,’ added Fawcett.

In terms of the focus of demand, the firm has found that Tuscany continues to generate the highest number of viewings and sales, but Liguria, Venice and Rome are also attracting strong interest.

‘The latter two underline the increased interest in city living, with Florence joining this triumvirate. Whilst an improved lifestyle remains the key motivation amongst buyers in Italy, the potential investment opportunity is increasingly a consideration for those looking at a city purchase,’ Fawcett said.

He added that apartments provide an easier ownership route without the need for a large capital outlay and minimal ongoing maintenance.
Source: http://www.propertywire.com/news/europe/italy-real-estate-market-2015021710168.html

08/09/2015

London property sales over £1 million down 26% in second quarter
London saw a 26% drop in the number of properties sold above the £1 million level year on year in the second quarter of 2015 with the economic slowdown in China regarded as having an impact, a new report says.



The situation in China is having a knock on effect on global equities and other buyers are still holding back since the stamp duty increase towards the end of last year, according to Richard Barber, director at agents W.A. Ellis.



'This could be perceived as good news for buyers, signalling a return to normality in the market due to more realistic pricing strategies. Such strategies will play a significant role for vendors looking to secure a prospective buyer this autumn,' he said.

'Discerning purchasers continue to take stock of last year’s increases to stamp duty and the ongoing strength of Sterling. After one of the most tumultuous weeks on record for the world’s financial markets, there is naturally considerable speculation regarding the real estate manifestations of the economic slowdown in China and knock-on negative impact for global equities,' he explained.



'In short, this will depend on the depth and duration of the nervousness that investors are now displaying and whether this becomes a protracted slowdown in investment activity,' he added.

He pointed out that UK real estate is one area that traditionally experiences countervailing investment activity, with perceived defensive characteristics against weaker investment alternatives.



'International investment in London commercial property is currently running at around 60% of all Grade A space and this flow will remain strong well into 2016. Residential investment is also likely to experience continued support from international investors, with bricks and mortar investment often being compared with gold for its defensive investment characteristics,' said Barber.



He also explained that there are exceptions to this trend, notably from economies experiencing a more severe currency devaluation and Russia, China, and Malaysia are all likely to fall into this category and investment flows from these countries may moderate through the remainder of 2015.

In contrast, weak equity and real estate investment alternatives from the largest traditional residential investors, Hong Kong and Singapore, could possibly drive improvements from these countries.



The report says that new build residential in London continues to perform well, notably in areas such as Nine Elms and East London, including Canary Wharf, where public transport and infrastructure improvements are driving seismic changes to the underlying real estate value.



However, Barber concludes that prime London pricing has been relatively weak for the past 12 months. 'It may well be time that investors begin to again see value in these traditionally favoured locations during times of perceived uncertainty,' he said.



According to Tom Middleditch, director at JLL Kensington, the prime lettings market has undergone an important shift in the second quarter of 2015 as pre-election weakness affected both sales and lettings but this was reversed with the Conservative party win.



'Although transactions were not quite at the euphoric levels that some agents reported in the immediate election aftermath, prime markets are now rebuilding stock levels and should find moderate activity growth in the third quarter,' he explained.

'However, the lack of sales stock continued to push occupiers into rental property; this was particularly notable for corporates, who, alongside strong demand from students, pushed up new lettings by 93% in June compared with 2014,' he added.

But rental growth remains modest, with would be tenants staying price sensitive, aided by increased choice in the lettings market. 'New listings should be supported by improving new build supply, expected to peak in 2017. This will ease the general shortage of quality lettings stock available and continue to keep a lid on rental growth,' Middleditch pointed out.

'As we approach the busy months of the year for the lettings market of prime London, activity has already started to pick up, and average rents are on the rise. An increase in supply, however, may keep rental price growth in check going forward. Since the election, agents have seen even stronger conditions with a further pick up in applicants, including corporate demand,' he added.

Indeed, according to the report, average rental values across prime London are now 7.4% higher than they were this time last year. Meanwhile, the number of tenancies agreed rose by just 0.4% over the quarter.

'With plenty of options for tenants, landlords still need to be realistic about pricing or they face extended void periods which are damaging. Tenants are being increasingly particular over their property choices and are prepared to negotiate, often submitting multiple offers in order to secure the best deal,' Middleditch said.

'There is cautious optimism over the remainder of 2015 with the expectation of an increase in rents, but this will be measured by the level of new development stock coming onto the market competing with existing second hand homes,' he added.
Source: http://www.propertywire.com/news/europe/london-prime-property-market-2015090710947.html