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Real Estate in Southern Europe

  • Spain's housing sales increase by 13.8 pct in Sept.

    SPAIN, 2015/11/24 Spanish housing sales rose by 13.8 % in September at the same time as compared with the same month of a year before, Spain's Statistical Office (INE) reported on Friday. A total of 30,711 operations were registered in September, the INE said, with sales of second-hand houses increasing by 36 % to a total of 24,600 purchases and sales of new houses falling by 31.3 % to 6,111 purchases at the same time as compared with September, 2014. Spanish housing sales have been rising for 13 consecutive months on a year-on-year basis. In the initial nine months of the year housing sales rose by 12.2 %, with sales of new houses decreasing by 35.3 % and sales of second-hand houses rising by 42.9 %.

  • Palazzo Versace luxury hotel and residence opens in Dubai

    ITALY, 2015/11/21 The luxury hotel built by the Enshaa Group - one of the leading developers in the Dubai real estate market - includes 215 rooms and 65 suites, with areas and furnishings designed under the artistic direction of Donatella Versace. The complex, located in Dubai's new Cultural Village, as well includes 169 private residences with one to six rooms ach, entirely decorated and furnished in Versace style. ''Versace is a fashion, luxury and lifestyle brand. Since the very beginning, Versace has understood different product categories - from clothes to accessories, from precious goods to the home collection - able to convey the brand's exclusive and iconic style,'' said Versace managing director Gian Giacomo Ferraris.

  • Spanish home mortgages increase by 21.8 pct in July

    SPAIN, 2015/09/29 The number of home mortgages granted to prospective buyers in Spain increased by 21.8 % in July at the same time as compared with the same month in 2014, according to data published on Friday by Spain's Statistical Office (INE). According to the INE, a total of 21,863 home mortgages were granted to prospective buyers in July, which meant a 21.8-% rise on a year-on-year basis and a 1.9-% rise on a month-to-month basis.

  • Israeli companies want to invest in Serbia Real estate

    ISRAEL, 2015/05/02 Israeli companies increasingly want to invest in Serbia, which best indicates that Serbia is on a good path out of several years of economic crisis, Israel's Ambassador to Serbia Yossef Levy said in Belgrade on Thursday. Israeli companies are mostly interested in construction of real estate property, retail parks, hotels and other facilities, inclunding in cooperation in the agricultural and IT sectors, Levy said.

  • Greece real estate investment

    GREECE, 2014/02/25 Things are looking up for real estate investment companies in Greece as the slide in the prices of commercial properties they have in their portfolios appears to be coming to its end, as daily Kathimerini reports. The initial clear sign of the new trend was the return to profit of blue chip Eurobank Properties. This week the company announced next-tax profits of 2.7 million euros in 2013, bringing an end to three years of losses. It had lost 28.1 million euros in 2012. A key factor in the company's return to profit last year was the acquisition of two properties leased by Praktiker and one apiece by Carrefour-Marinopoulos and McDonald's. The commercial properties market is expected to stabilize in 2014, according to industry insiders, although it will continue to suffer pressures in the initial half of the year.

  • Spain house prices show 1st quarterly hike since 2010

    SPAIN, 2014/01/02 Home prices in Spain rose 0.7 % in the third quarter of 2013 over the previous three-month period, the initial increase since mid-2010, the National Statistics Institute, or INE, said Monday. Year-on-year figures show that housing prices dropped 7.9 % in the third quarter compared with the same period in 2012. These year-on-year declines were as well tapering off in the quarters before that, with a drop of 12 % in the case of the second quarter and of 14.3 % in the initial.

  • Spain Shopping Center Sold for €162 million

    CANADA, 2013/10/08 A joint venture between UK-based mall owner Intu Properties (Intu) and Canada Pension Plan Investment Board (CPPIB) has purchased Parque Principado Shopping Centre, a 75,000-square-meter retail center in Oviedo, northern Spain for €162 million ($219.7 million) before transaction costs. Intu will assume the investment management of the property. Next the purchase, the investors intend to fasten bank financing of approximately 50 % of the property price, according to an announcement from Intu. Based on net gain of €11.7 million, the implied net initial yield at the purchase price is 7.2 %, the company said. "The opportunity to acquire Parque Principado, a top 10 center in Spain, on attractive and earnings accretive terms firmly establishes our presence on the ground in a country where we see considerable increase opportunities in the regional shopping center industry," David Fischel, chief executive of Intu, said in the release.

  • World Habitat Day: UN officials call for improved urban resilience, mobility

    WESTERN ASIA, 2013/10/08 Un officials have stressed the need to ensure that cities become additional resilient to natural disasters inclunding provide their citizens with methods of alternative transportation to thrive. The PANA Correspondent in New York reported that the officials made the call in messages to mark the World Habitat Day, observed annually on the initial Monday of October. In his message, UN Secretary-General Ban Ki-moon stated: 'As the effects of climate change increase, urban resilience becomes ever additional necessary.' He said: 'All actors need to work together to save lives, protect assets and guarantee services at the same time as disasters strike', saying that, 'planning is essential to boost the resilience of cities.'

  • Italian firms to vie for infrastructure contracts

    ITALY, 2013/05/26 The international market leaders in the real estate sector, investors, investment managers, architects, local authorities and government representatives will be arriving in Doha on Monday for the Cityscape Qatar 2013 real estate summit. The three-day event under the patronage of Qatar's prime minister and foreign minister, Sheikh Hamad bin Jassem bin Jabor Al Thani, will showcase both local and international real estate projects.

  • Cyprus real Estate market demand falls, 49% drop in March

    CYPRUS, 2013/05/20 Doom and gloom continues to settle deeper into the Cyprus’ housing market with little sign of development, as Famagusta Gazette reports. Domestic request in the property market recorded a decrease next a Eurogroup decision on Cyprus last March and restrictions imposed on transactions which followed.
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