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Commercial European real estate recovers (slowly)

by Yuri Brixenmortar 31. October 2011 13:02
Commercial European real estate is still recovering from the debt crisis, judging by the latest figures from Cushman & Wakefield. Investment in commercial property on the continent rose by 5 per cent in the third quarter of 2011, as trading increased to reach €28.8 billion. [More]

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Spanish Air Strikes No Longer a Threat to European Vacationers

by Yuri Brixenmortar 16. March 2011 15:08
European tourists and those looking to visit their European property in Spain this Easter will be pleased to know the planned airport strikes in Spain have been all but called off. The state-owned company which runs Spain's airports has reached a preliminary agreement with unions that will guarantee their jobs even if the company is sold off to private owners. The agreement reached early today after a marathon negotiating session still needs to be approved by rank-and-file union members who called the strikes last week. Unions feared wage and other benefit cuts once private investors take a stake in AENA, the company that runs the airports in Spain. The unions planned a series of rolling strikes starting on April 20, and including Ea... [More]

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Distressed Property Set to Rise in Europe This Year

by Yuri Brixenmortar 15. March 2011 12:25
Distressed property already makes up a large part of the southern European real estate markets, especially Spain, since the onset of the financial crisis. Experts predict that despite a significant recovery in the market for 2011, this trend shows no signs of abating, with large spikes in Germany, Hungary, the UK and Ireland particularly expected. Property Magazine outlined the trend in more detail in their review of the Royal Institute of Chartered Surveyors' latest Global Distressed Property Monitor. "The expected supply of available distressed property is expected to rise more quickly in Europe than any other world region in the first quarter of 2011, and notably in Ireland, Hungary, Germany and the UK, finds the Q4 2010 RICS Globa... [More]

Moving to Europe - It Really Is As Good As It Looks

by Yuri Brixenmortar 14. March 2011 12:00
Moving abroad to sunnier climes in Europe always seems like the dream life to many British workers slaving away for long hours and coming home to a freezing, overpriced flat, but is it really? Will moving to another country with a milder climate and better quality of life really solve all your problems? According to the UK Post Office's most recent survey, yes, it will. The Post Office's International Payments department recently surveyed 710 customers with properties abroad, 233 of whom were expats living in their country of choice permanently. Of those surveyed, 70 per cent rated themselves as very happy with their new life, while 60 per cent said they felt a greater sense of community in their new home than in the UK. The most popular... [More]

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Long-Haul Price Rises Could Push European Tourists Closer to Home

by Yuri Brixenmortar 11. March 2011 12:16
The crisis in the Middle East, whilst bad for political and economic stability in the world economy, is certainly benefiting one industry: European tourism. With the economic crisis in the EU, the collapse of many key European real estate markets and the emergence of new growth economies further afield, many investors had begun to feel as if Europe was a dead market. However, with previously booming property markets like Egypt and the UAE now floundering, perhaps speculators are beginning to see that there is in fact comfort in the familiar. Now comes the news that oil price rises are continuing to push up long-haul airfares, meaning the cost of going somewhere new and exotic for many European vacationers is becoming increasingly out of ... [More]

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MIPIM Uncovers Hot New Property Markets for the Year

by Yuri Brixenmortar 10. March 2011 14:39
This week sees the staging of the international commercial property conference MIPIM, held every year in the glamorous French Riviera town of Cannes. Millionaire investors and developers converge on the town to hear leading experts' opinions on the best emerging markets and get some new deals in the pipeline. With an ongoing crisis in much of the European real estate market, this year's conference has so far been a less excessive affair than usual, but nonetheless attendees have emerged with some interesting ideas on where to spend their money this year. An address on Tuesday from US-based investment analysts Real Capital Analytics (RCA) uncovered some interesting new trends in the emerging markets for European real estate in the year t... [More]

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Poland Tourism Push Could Impact Property Industry

by Yuri Brixenmortar 8. March 2011 14:05
As a developing European economy with a large working population and low cost of living, Poland has been on commercial property investors' radar for awhile. In terms of tourism, however, the nation has generally been explored by only the more adventurous European travellers in search of off-the-beaten track experiences. The coming years are set to be massive for the Polish tourism industry, however, so all that may be about to change. The major event that will see tens of thousands of tourists experience Poland for probably the first time will be the Euro 2012 football competition. Poland won the right to host Euro 2012 jointly with the Ukraine, and as a result the eyes of the entire football-mad population of Europe (and there are a lot... [More]

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Business is Booming in European Rail Industry

by Yuri Brixenmortar 7. March 2011 13:57
With all the dramas of volcanic ash, air strikes and snow storms having grounded a good percentage of Europe's airlines last year, more travellers and European property buyers are opting for rail-convenient holidays and vacation homes. Ticket firm Eurail, which sells both single-country and multi-country European rail fares, last week reported a sizeable 11.9 per cent increase in ticket sales for 2010. The biggest jump in ticket sales was from South America, with Asia and Europe also recording sizeable increases. The 6.9 percent increase in sales within Europe is particularly interesting - while international purchases of Eurail tickets have always been fairly common as a convenient way of pre-organising cheap travel through many countri... [More]

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Opportunities for European Property Investors in Hungary

by Yuri Brixenmortar 4. March 2011 11:52
A relatively new member of the EU, and still retaining its own currency, Hungary is yet to become a fully commercial tourist hub, and hence has not passed on many of the associated costs to the several million international visitors that cross its borders every year. Presenting a relative bargain to European travellers, but still with plenty of rich cultural and culinary delights to savour, it was deservedly named one of USA Today's top five value for money destinations this spring - the only European destination to make the list. Many money-smart travellers are now making the journey to Hungary, but might be surprised to find that the tourism and hospitality industry isn't fully developed here yet - and this is where opportunities for E... [More]

Spain's Housing Oversupply Finally Being Addressed

by Yuri Brixenmortar 3. March 2011 15:29
Experts are now in agreement that what caused the collapse in the Spanish property market was primarily an oversupply of new homes compared with demand. As Spanish property portal Kyero reports this week, former Spanish Ministry of Housing adviser Ricardo Verges estimates the number of new houses built during the boom years of 2004-2007 that have yet to be sold is somewhere in the vicinity of 2.3 million. But since the crash, developers, under pressure from Spanish authorities and finding a market deserted of buyers, have finally eased off on construction. Property sales increased by 6.8% in Spain last year, the first positive growth since 2007, indicating that finally there are more houses being sold than built. The Spanish Association ... [More]

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