01 Aug 2023

The Bayut H1 Property Market Report 2023 provides insights into the real estate performance in Abu Dhabi during the first half of the year. The report highlights significant increases in rents, leading to a surge in property sales in the UAE capital. Affordable apartment sales prices experienced a decline, while villas became more costly. Al Reef displayed the highest rental yields for affordable apartments and budget-friendly villas, while Al Reem Island offered high yields in the luxury segment. Suburban locations like Al Reef, Al Ghadeer, and Masdar City attracted budget-conscious investors. Khalifa City stood out for affordable villa rentals, while Mohammed Bin Zayed City was popular for villa rentals.Read more

01 Aug 2023

Swedish construction company Skanska reported lower-than-expected Q2 operating earnings, primarily due to a significant downturn in its property development ventures. The company's operating profit declined to 1.33 billion Swedish crowns, falling short of both last year's figure and analysts' forecasts. Surging inflation and multiple interest rate increases have strained the residential and commercial property markets in Sweden, impacting Skanska's overall performance. However, the construction segment showed strong growth, with the United States remaining a resilient market. Skanska projects a weakening in the residential and commercial property markets in the upcoming months but anticipates robust activity in the construction sector in the US.Read more

01 Aug 2023

Amancio Ortega's investment arm, Pontegadea, reported a 2.8 billion euro increase in real estate asset value, hitting 18.1 billion euros ($20.08 billion). The portfolio, which encompasses logistics centres and luxury buildings across the U.S., contributed to a net profit of 2 billion euros last year. Pontegadea, historically focused on real estate, is said to also be acquiring stakes in energy companies, demonstrating diversified investment strategies.Read more

31 Jul 2023

Toronto's luxury housing market experiences a decline in sales, with properties valued over $4 million witnessing a 34 percent drop year-over-year, as reported by Sotheby's International Realty Canada. The city's status as a financial hub provides some resilience, but buyers and sellers seek increased confidentiality through targeted marketing strategies. While interest rate hikes affect affordability and discourage conventional market adjustments, buyers may take advantage of the market in the fall. The trend is not exclusive to Toronto, as other major Canadian cities like Vancouver, Montreal, and Calgary also report varying degrees of sales decreases for high-end properties.Read more

31 Jul 2023

In response to growing concerns over foreign ownership of developments, the Singapore government has implemented a significant increase in residential property tax for foreigners, raising it to 60 percent. Under the new regulations, if a development is primarily owned by a foreigner (around 80 percent ownership), they gain control over the property, including the possibility of an en-bloc sale. The change has raised uncertainties in investment sales, collective sales, and shophouse markets, prompting market players to seek clarity on the rules. However, residential projects on land zoned purely for residential use remain unaffected by the tax hike.Read more

31 Jul 2023

Economists predict a slowdown in multi-family housing starts in the US as several factors come into play. With an increasing volume of multi-family units in the pipeline, weakening rental demand, and tighter lending standards, the outlook for the construction of multi-family properties appears less promising. As the market adjusts to changing dynamics, stakeholders and investors closely watch to see how these factors will impact the growth of multi-family housing construction in the coming months.Read more

31 Jul 2023

China's property market experienced turbulence as policymakers consider easing restrictive measures. Following a broad rally driven by top leaders' commitment to boost the economy and domestic demand post-COVID, investors eagerly anticipate support measures for the embattled sector. Amid mounting concerns over debt crises among state-backed developers like Sino-Ocean Group and Greenland Holdings, as well as property giants Country Garden and Dalian Wanda Group, uncertainty looms over the market's future.Read more

31 Jul 2023

Swedish property group SBB aims to improve its division's liquidity and financial standing by issuing preference shares to Morgan Stanley Real Estate Investing. The investment fund will become a minority shareholder in SBB Residential Property after the 2.36 billion Swedish crown share transaction. Facing financial difficulties after a credit rating downgrade to junk status, SBB is taking measures to strengthen its position. The preference shares have no specific maturity date and their return depends on the unit's sale or SBB's redemption. The recent fundraising news was well-received by investors, leading to positive changes in certain SBB bonds.Read more

29 Jul 2023

Dubai has achieved a ground breaking feat in 2023, dominating the luxury real estate market worldwide. The city's total sales in high-end residential units, priced above $10 million each, soared to an impressive $850 million (Dhs3.1 billion) during the first half of the year, outshining prominent cities like London, New York, and Paris. According to Allsopp & Allsopp's latest market report, there were 176 high-value real estate deals between January and June 2023. Notably, a penthouse apartment in the Bulgari Lighthouse complex on Jumeirah Island was sold for a staggering $111.6 million (Dhs410 million).Read more

29 Jul 2023

New data from the English Housing Survey reveals a significant drop in the proportion of English citizens owning second homes in Europe since Brexit. Currently, 60% of holiday homes are located within the UK, a stark contrast to a decade ago when the split was even. The stringent 90-day visa restriction for non-visa holders in EU countries has led to a decrease, with only 60,000 people in England owning second homes in France compared to 89,000 in 2008. Overall, less than 30% of second homes in England are in Europe, down from 40% in 2012.Read more