For the second consecutive year, London remains the top destination in Europe for hotel investment according to the 2024 European Hotel Industry and Investment Survey by Deloitte. The UK capital has retained its top spot as most attractive city in the Old Continent for hotel investment in the year ahead, followed by Paris and Madrid…
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Germany’s construction sector activity contracted at the slowest pace in 16 months in September, but remains deep in contraction territory survey results from S&P Global showed on Friday (Oct. 4). The HCOB Germany Construction PMI Total Activity Index – a seasonally adjusted index tracking changes in total industryactivity- rose to 41.7 from 38.9 in the…
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Irish house prices will rise by 4.5% over the next 12 months, according to estate agents who are members of the Society of Chartered Surveyors Ireland (SCSI). This is up on the 1% increase which SCSI agents forecast for 2024 back in January. According to the latest SCSI Mid-Year Market Monitor released in August…
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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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