The housing market in Paris, France continues to defy expectations, with demand continually outstripping supply. Prices are steadily rising, and an era of low interest rates (accommodative monetary policy) is fuelling demand among new buyers. An op-ed in the New York Times by Roxana Popescu revealed some startling insights about the French property market. According to the data, the average home price for an existing apartment in the capital city is on the rise, significantly higher than the boom time with 2011 property prices. The sale price in the desirable Sixth Arrondissement spiked from €11,300 per square metre in January 2015 to €14,000 per square metre in January 2019. In affordable areas of Paris such as the 19th Arrondissement, prices rose from €6500 in January 2015 to €8350 in January 2019. -- Advertisement -- Clearly, Paris is not reflective of the overall market for French real estate. In the City of Lights, demand continually outpaces supply, … [Read more...] about French Real Estate and Brexit Matters: Where to Next?
Developing real estate leads
Glenorchy’s real estate market is taking off as the township is increasingly viewed as value for money in the Wakatipu. Leading the charge is the top-of-the-lake’s largest subdivision, 60-lot Alfred’s Terrace, where 25 sections have sold and four are under contract. Prices ranging from $300,000 for 800 to 1250sq m sections represent “by far the best-value sections in the Wakatipu”, local Ray White co-owner Bas Smith, whose firm has the master agency, says. “These days we are finding Queenstown people, young families, professionals, health advocates and lifestylers, are seeing Glenorchy as amazing value when they consider the growing, vibrant community culture alongside the incredible amenity of nature which is right there for them.” Smith – who personally named the subdivision after one of the first white men to set eyes on Glenorchy, Alfred Duncan – says it used to be “a bit of a macho town”, but that’s changed … [Read more...] about ‘Amazing value’: Real estate on rise in Glenorchy
Gary J. Morrell Saturday, June 22, 2019, 00:20 Futureal has completed the sale of the 12,000 sqm Advance Tower, located in the Váci Corridor, to the Hungarian Erste Real Estate Fund. This, the second investment deal between Futureal and Erste Investment Fund, was provisionally agreed last year. Advance Tower by Futureal. The fund has acquired the first phase of the center and has an option on the second 8,000 sqm phase of the complex, currently under development and due to be completed in the second half of the year, bringing the total space to 20,000 sqm. The deal reflects the current strong demand for high end office assets, the dominance of domestic capital in the Hungarian investment market and the ability of local funds to conclude deals at earlier stages in the development process through their established contacts in the market. “The recent agreement is a new milestone in a tried and tested professional relationship that will further strengthen … [Read more...] about Erste Real Estate Acquires Advance Tower
Bence Gaál Tuesday, June 18, 2019, 11:30 Towns around Lake Balaton have real estate prices similar to those in Budapest, with Balatonfüred being the most expensive, according to research by estate agency Duna House. Property prices around Lake Balaton have grown significantly in the last few years In Balatonfüred, on the northern shore of Lake Balaton, market demand for both new and old houses is high. Prices per square meter of old homes and holiday houses have grown some 20% in a year, pushing the average price to HUF 511,000 per sqm. In the case of recently built homes, prices are even higher, with waterfront properties on offer for as high as HUF 1 million per sqm. The biggest price increases were registered in Fonyód and Keszthely, with real estate prices increasing by some 50%. The average price per sqm stands at HUF 350,000 in Fonyód, and at HUF 317,000 in Keszthely, based on Duna Houseʼs 2018 data. The average sale price of houses is … [Read more...] about Lakeside real estate prices skyrocket
Gary J. Morrell Saturday, May 25, 2019, 12:45 The fundamentals of the Budapest office market are seen as strong with low vacancy and high occupational demand. Office developers are delivering better located, more sustainable and imaginatively designed centers using world-class interior and exterior architects and PM/FM managers. Exit strategies are available for all class “A” developments, often with multiple bids. However, labor and development costs are rising and development plots have become more difficult and expensive to source. The Budapest Business Journal spoke to a number of leading developers to ascertain their view on the market from development, locational, design, sustainability and investment perspectives. As per the results from 2017 and 2018, the market is seeing robust demand, which can hardly be served by the supply. All of the new developments are mainly or fully let by delivery. Atenor’s Váci Greens is a good example of this: … [Read more...] about Market Talk: How is the Office Market Developing?