The amount of money spent on commercial property in Europe has fallen by more than a third in the first quarter of 2008, as continental markets caught up with the problems affecting the United Kingdom.
Turnover European Investment amounted to € 37 billion (£ 30bn, $ 59bn) in the first quarter of this year, according to research on Friday from CB Richard Ellis, against 58 billion over € the last quarter of last year.
EDITOR'S CHOICE
Slower asset value fails to halt the decline of capital fall - Apr-14
Investors are faced with a question on the taxation of debt - Apr-08
Credit crisis leads to a glut of office in the city - Apr-06
London, property values fight - Apr-01
The forecast for the city construction halved - Mar-24
Segro hit by falling commercial property - Mar-07
Low levels of activity were reported in most of continental Europe, according to the officer, while the United Kingdom was one of the least affected, in part because that is where the slowdown was more apparent early.
The real estate market investment is dependent on debt markets to fund acquisitions, and the shortage of loan facility has had a huge impact on the level of activity. This was most obvious on the British market, where prices have fallen sharply as a result, but Europe has been more resistant to date.
"The European market investment has begun to see a correction in prices in the area during the first few months of the year," said Michael Haddock, director of research at CB Richard Ellis, "with the first segment of the market who seen moving outward yield somewhere between 25 and 50 basis points. "
In the UK, sales remained at a similar level in the fourth quarter, around € 10 billion. The UK has experienced a correction in pricing than other markets, "said CB Richard Ellis, and lower prices have already begun to attract the interest of investors.
The continent's two largest markets - Germany and France - saw lower volumes than in the previous quarter or in the equivalent period of last year.
Yields in France remain among the lowest in Europe, which means that buyers are waiting to see if the values follow the United Kingdom. Activity in some markets remained healthy, however, including Finland and Italy.
Monday, April 21, 2008
Spending on commercial drops
Saturday, April 19, 2008
ProFund Financial & Real Estate
Monday, March 3, 2008
Hogan's house Sees Record
Article: The Daily Telegraph
February 29, 2008 12:00 am
A house of five rooms at Grandview Grove, Seaforth, which was once the center of origin crocodile man, Paul Hogan, was auctioned for 3.17 million, a record price for the street.
The movie star lived in the house with his first wife, Noelene his family and grew up there. Located on 1226sq m from the house has four bathrooms, an outdoor spa and cabana. Marketed by Robert and Leonie Klaric of Klaric Partners, an interested buyer to inspect the property during an open house was Dancing With The Stars' Sonia Kruger.
BALI BY BYRON BAY Puri Patai, a four-bedroom Balinese-style beach house in Byron Bay's Tallow Beach was put up for sale, with bids over $ 5 million envisaged. Owner Derek McEvoy, former head of corporate lending Westpac in Sydney, and Dave Harvey bought the land in 1998 and $ 550000 for the construction of two rooms weekender. It underwent a major renovation last year to add a pool and pavilions for eating and sleeping. Both have decided to sell and move to Bali, where they hope to build holiday villas in Seminyak, with the proceeds going to charities. Ed silk Real Estate is marketing the property. Details, 6685 7000.
MUSIC HITS A WRONG NOTE SALE The Music Farm in the hinterland Byron Bay, owned by Suzi Dowling, was withdrawn from the market. Despite a serious offer before Christmas, 8 ha area with a control room, studio and vocal booth has not changed hands. Colliers International has been mandated to sell retirement tropical who owns four houses, which can accommodate up to 27 and would have entertained such as high-profile guests, Olivia Newton-John, Kylie Minogue, Tim Finn, Kate Cebrano and Jimmy Barnes during that they are recording albums.
AT $ 2.9M THEY'RE NOT KIDDING Chief of the online directory of activities for children, Jessica McGrath and her husband, Peter McGrath, are auctioning their five-bedroom Roseville home with an eye on 2 , $ 9 million, with the auction scheduled for March 16. Peter is related to John McGrath of McGrath Estate Agents and property has been marketed by the firm Amanda Segers. A double brick, sandstone and weatherboard it has kept the house is greatness. High ceilings, wood floors, walls and windows leadlight Federation delight the purists. It is one of the greatest gardens in the region. Details, 0417 000001.
Boom in small units
Article: The Sunday Telegraph
By Sharon Labi
March 02, 2008 12:00 am
RISING rents, the most volatile sharemarket and single people have fuelled a resurgence of the unit one-bedroom market.
Agents say one bedroom - once the hardest to unload properties - are sold in the two weeks following its inclusion on the list.
Australian Property Monitors CEO Michael McNamara said Australian Bureau of Statistics figures show the number of people living alone is at its highest level and, consequently, investors are pushed onto the property.
Rental returns on a unit one-bedroom units purchased for $ 250000 to $ 300000 investment makes them attractive, he said.
Keith Soames agent James Campbell said one-bedroom attracted rents of $ 300 to $ 340 per week and are sometimes the only option for those seeking to enter the market.
"If you are going to be paying more than $ 300 a week in rent, you can buy,''said Campbell, adding most of its buyers were women in their 20s.
He sold a unit in a bedroom in Hornsby on Tuesday of $ 280000, with the buyer made the rent for six months at $ 310 per week to make a dent in his mortgage before moving in.
Lesley John Spence of Spence Property sold a one-bedroom unit Carlton for $ 285000 on the day of his first visit and said that there was not much on the market, particularly around the price range $ 300000.
"The best market for the property, the more buyers you have to work with, so there are certainly people who, if they can afford to buy, must start somewhere and that the item would be one unit one bedroom,''she Dit.
There was also a growing tendency for people to live alone.
Susannah Anderson, of Di Jones in the Western suburbs of Sydney, said there was a large single market of a few, but a bedroom.
"Towards the end of last year, a room really started creeping up to the $ 300000, the low $ 400,000 (to the east), whereas three or four years ago, a two-bedroom was $ 400000 and now is the price of a bedroom one.''
Residex head John Edwards said investors were still buying rooms because they are relatively affordable.
"But an investor to own a unit one bedroom has a much higher level of risk than owning a two-bedroom unit, because how many people can live in a bedder?''
Profitability highest enjoyed by developers for the construction of a bedroom as large businesses, but the construction has slowed right down, "said Edwards.
Wacko Jacko sells Neverland Ranch
Article: The Daily Telegraph February 27, 2008 09:00 am WACKO Jacko's Neverland Ranch is going under the hammer at a public auction, and the pop star is selling everything inside. Jackson received word Monday from Title Finance Corporation, the trustee, unless it pays only a debt of $ 24525906.61 March 19, a public auction will go ahead, Santa Barbara, California, in front of the courthouse of the county. It is not only the house, the reports Foxnews.com When Neverland is sold at auction, it includes everything: the interior of all personal property, all fixtures and appliances, furniture, as well as "all merry go round devices", while rides, games . The auction includes literally every thing that is or is not nailed. At that time, Jackson may just miss the auction. It was not at Neverland since June 30, 2005, when he left for Bahrain. Nobody lives there, the animals at the zoo are all gone, the rides are either sold or closed. Financially, Jackson remains unable to cure his dilemma. More photos of Jacko bizarre here. Although it has refinanced its loan of $ 300 million from Fortress Investments, with the help of Sony Music, HSBC and Barclays Bank, the loan Neverland was not part of this agreement. Fortress would obviously like to get out of the business entirely now Jackson, the auction is their response. Neverland could be marketed as a retreat. Or maybe a very rich new owner must submit and make a fire sales pitch. But an era is about to end forever: Jackson, who brought this on himself, is about to lose one of its two main assets. | ||||
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Houses of horror were razed in Minto
Article: The Daily Telegraph
By Kikki Campion
March 03, 2008 12:00 am
A western Sydney public housing disaster is being razed and rebuilt.
More than 3000 people stand to be evacuated from Minto's failed Radburn design, which planted dense public housing in the suburbs of Sydney.
Minto, created as a welfare dependent succession in the years 1970, is being bulldozed for the purpose of cleaning crimes motivated by poverty and transform the dilapidated ghetto in 1150 new, modern homes.
This is the first time a major housing development has been completely rebuilt and social leaders in Canada, the United Kingdom and the United States are attentive to its success. The first of Minto new homes have wooden frames built last week.
NSW Housing, City Council and Campbelltown Landcom will start selling them in July.
Resident Bert Kring, 80, who threw the upper ground for the first development in the 1970's, lives in one of the last sections wasteland to kill. "I helped build the bloody place to start, and then I lived here, and now I do not look over the demolition," he says.
"These places must go, they are so close together that if the guy next door is a headache, you should take a pill."
But no matter the crime, vandalism and economic problems were in Minto, many residents will miss their homes.
Campbelltown City Councillor Mollie Thomas, a former resident, said Minto houses were there for the people who need it most.
"During the 30 years since I left New Zealand, it was the only place that I could call home," she said.
This is the first series of this size to be redeveloped with such content human being uprooted, "she said.
