The average rent (including running costs) in Austria was €9.8 per square metre per month in the second quarter of 2024, up 1.0% compared to the previous quarter and 5.4% compared to the second quarter of the previous year, Statistics Austria data showed on Thursday (Sept. 5) “Residential rents in Austria rose again in the…
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Gifts and loans from the Bank of Mum & Dad (BOMAD) to first-time home buyers will reach almost £30 billion over the next three years, according to the latest analysis from property firm Savills. In 2023, £9.4 billion was gifted to 164,000 first-time buyers, accounting for a huge 57% of all mortgaged first-time buyers. This…
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UK’s net mortgage approvals (that is, approvals net of cancellations) for house purchases, which is an indicator of future borrowing, remained broadly stable at 60,000 in June, the Bank of England (BoE) revealed in its report issued on Monday (July 29). Approvals for remortgaging (which only capture remortgaging with a different lender) decreased to 27,500…
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Banks in the European Union are vulnerable to real estate ‘cracks’, the European Banking Authority (EBA) warned in its latest risk assessment report (RAR). Lenders across the bloc have lent more than 1.4 trillion euros ($1.5 trillion) to the commercial real estate (CRE) sector and also face “elevated geopolitical risks coupled with economic and interest…
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Rents heat up ahead of the summer across England, the latest Rental Index from Goodlord has revealed. Rents rose in May to hit a new seven-month high of £1,183, rising by 6.4% year-on-year. This is a rise of 1.4% compared to April’s figure of £1,166, the proptech said. It’s also the highest rent average recorded…
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EUROPE: Sweden-based multinational construction and development company Skanska has sold the innovative Studio B office building in Warsaw, Poland, to Stena Real Estate, for EUR 86M (about SEK 1 billion). Stena Real Estate is an international property company that is part of the privately owned Swedish Stena Group. The transaction will be recorded by Skanska…
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Commercial real estate investment dropped to its lowest in 11 years in Europe in the first quarter of 2023, according to MSCI Real Assets. The number of office deals— Europe’s largest real estate sector — fell to its lowest on recordgoing back to 2007, while the volume of transactions slumped to a 13-year low of…
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Natives of the coastal city of Limassol are being priced out of the property market in their hometown by wealthy foreigners, Agence-France Presse (AFP) notes in a reportage. In 2022 there was a 30% increase in real estate sales transactions (contracts deposited at the Land Registry) with Limassol achieving the greatest number of sales, followed by Paphos,…
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Greece’s Supreme Court (Areios Pagos) on Feb. 9 ruled that loan management companies- known as servicers, can conduct auctions on behalf of “funds” that have bought packages of non-performing loans in the country. According to Greek media reports, this means that 700,000 properties are at risk while within three years it is estimated that around…
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The European Union’s banks are exposed to downside risks as residential real estate markets get overheated, a new report finds. EU banks reported more than EUR 4.1 trillion of loans and advances collateralized by residential immovable property, the report published by the European Banking Authority (EBA), finds. This corresponds to 1/3 of all loans towards…
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