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The residential property market in Dubai has seen some pockets of stability and growth in recent months but these are still the exception, according to consultants.

2011 ended with mixed signals for the sector but it is still stronger than the office property market, according to the latest report from CBRE.

‘Oversupply issues remain prevalent with demand fundamentals being outpaced by the completion of new stock,’ the CBRE report said.

It pointed out that average lease rates have been dragged down by apartments which fell 2% in the fourth quarter of last year. However, villa rates remained unchanged.

‘Investor interest in residential property continues to increase, with concentration on established community projects that offer superior facilities...

Lettings activity showed an increase of 25% in 2011 in Dublin, compared to 2010, causing vacancy to reduce from 23% to 21.6%, according to Savills latest office report.

The international real estate advisor predicts demand will remain strong for prime space in 2012 but overall vacancy rates may remain the same or marginally higher as some occupiers exit buildings.

The overall take up level for 2012 is forecast at around 130,000 square meters. Savills reports that demand continues to be led by a preference from occupiers for space in prime locations namely Dublin 2 and 4, which accounted for 24% and 32% of 2011 take up respectively.

The international telecoms, media and technology companies are anticipated to expand keeping market terms and co...

A realistic approach to rents is vital in the year ahead in the UK market as many regional locations have not recovered to the levels achieved in 2008, it is claimed.

According to the Belvoir Lettings Index, which has been running since March2008, there is considerable variation on rent levels according to locations.

‘During 2011 there were frequent reports in the national press about the stratospheric rise of UK rents. However, although the Belvoir Index reveals rental increases in 2011 versus 2010, many regions have still not recovered to the rents achieved in 2008,’ said Belvoir managing director Dorian Gonsalves.

The latest index from Belvoir, which has over 140 offices nationwide but does not have a strong London presence, shows th...

Transaction volumes across German residential property portfolios of more than 50 units increased by 44% year on year to €6.12 billion in 2011, new research from CBRE has revealed.

The number of traded residential units also increased by 27% to around 92,000 units within 194 transactions, indicating that the market for large portfolios of over 1,000 units has regained momentum.

The demand for residential units in Berlin was particularly strong. The capital city traded around €2.3 billion and more than 32,300 residential units last year, which accounts for 37 per cent of the registered investment volumes and 37% of all residential units in Germany.

As a result of the large transaction volumes and high...

While economic uncertainty still affects the main commercial real estate centres around the world, global real estate markets are showing steady improvements, according to Jones Lang LaSalle’s latest forecasting report.

The firm’s Global Office Index reveals t5hat the fourth quarter of 2011 was the eighth consecutive quarter where prime office rents have risen, up 0.8% over the previous quarter and 6% up on the fourth quarter of 2010. Global vacancy is edging down to the lowest point for the past two years at 13.6%.

‘The majority of global leasing markets are holding firm, and many are showing remarkable resilience especially among the BRIC countries, as well as robust showings from Canada, Australia, Germany and the Nordics,’ said Jeremy Kelly, director in Jones Lang LaSalle’s global research team and report auth...

Viewing and buying property in the winter has advantages even though there are less daylight hours and the garden is unlikely to be at its best, it is claimed.

‘Many property problems are evident in the winter months, but are less obvious to those viewing in a more benign climate,’ said Catherine McAllister of Stacks Property Search which has 18 offices around the UK.

‘Winter property buyers have a difficult time of it with less hours of daylight to view property, challenging weather conditions for getting about, and the hardship of viewing exteriors, gardens and outbuildings in biting winds, sleet, and February gloom. No wonder spring and autumn are more traditionally the seasons for viewing,&rsquo...


The details of a new bill on land registry in Turkey are emerging which will define ownership more clearly and should make the buying process less bureaucratic.

According to the ministry for environment and urbanisation the bill defines separate procedures for the possession of real estate by three groups; individual foreign buyers, foreign companies and companies that are wholly or partly owned by foreign investors.

It will clarify rights for ownership by foreign buyers and foreign companies and introduce important exemptions for property ownership for companies with foreign investors, including mortgage exemptions, exemption for immovable assets that were acquired in the course of merger and demerger and exemption for immovable assets that were put up for sale.

‘Wasting time on unnecessary procedures will be avoided,’ said a ...

Property prices in Australia’s eight capital cities decreased by 1% in the fourth quarter of 2011, according to preliminary estimates from the Australian Bureau of Statistics published today (Wednesday 01 February).

It means that on an annual basis residential prices are now down by 4.8% and prices are not expected to fall much in 2012.

The quarterly figures show there was considerable regional variation in prices. Prices fell by 1.6% in Melbourne and Adelaide, by 1% in Sydney, by 1.3% in Brisbane and by 1.4% in Darwin. They increased by 0.5% in Perth, by 0.7% in Canberra and by 0.8% in Hobart.

‘Today’s update does bear some resemblance to the annual declines evident in late 2008 and early 2009,’ said Harley Dale, chief economist of the Housing Ind...

Residential property prices in the UK fell by 0.2% in January but are 0.6% higher than a year ago, according to the latest house price index from the Nationwide Building Society published today (Wednesday 01 February).

It means that the Price of a typical home is now £162,228 and prices are not expected to change much in the coming months.

‘Given the challenging conditions prevailing in late 2011, with the UK economy contracting in the final three months of the year, it's not surprising that house price growth softened at the start of 2012,’ said Robert Gardner, Nationwide's chief economist.

‘The demand/supply balance may move further in favour of buyers in the months ahead. The economy is not expected to gather much momentum until the seco...

Housing Minister Grant Shapps today (Wednesday 01 February) highlighted how the government's action to get Britain building again will play a vital and central role in getting the country's economy on the road to recovery.

Six weeks before the budget, and less than three months since the Prime Minister and Deputy Prime Minister launched the government's flagship Housing Strategy, Shapps unveiled a range of measures to help first time buyers onto the housing ladder, provide support for millions who have been left languishing on social housing waiting lists and get construction on the move.

In a speech to councils and the housing sector, the Minister argued that in contrast to the experiences of the past, where a plethora of housing policies, papers and initiatives ‘g...

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