08 | WORLD ROUND-UP
NEWS The OPP top ten
Welcome to OPP’s new news round-up, providing you with a snapshot of the main talking points in the international residential property industry this month. For more on these stories turn over the page. For the latest news, visit the
www.opp-connect.com news archive.
7- GERMANY
Barclays kick-off sales The fi rst of many anticipated major real estate transactions involving banks selling off German portfolios has been completed, as Barclays sold the 23,500 apart- ments that comprise the BauBeCon group to German real estate group Deutsche Woh- nen for €1.24 billion.
6- SPAIN
ECB rejects Bankia bonds Spain’s plans to recapitalise one of the country’s largest banks following signifi cant losses from a property market decline have suff ered a setback after the European Central Bank (ECB) rejected proposals to push €19 billion in Bankia’s direction by swapping sovereign bonds of this value for cash at the ECB’s next refi nancing window.
www.opp.org.uk | JUNE 2012
3- MIAMI
Overseas buyers push sales Miami’s recovery continued apace as foreign buyers fuelled the Florida city’s fi fth-straight monthly price gains. Condos in the Miami- Dade area had a $150,000 median sales price in April…30% up year-on-year.
9- BRAZIL Reeling Real proves a boost
Brazilian property is becoming a greater attraction overseas buyers as foreign cur- rencies rise against the Real, according to agency uv10’s sales manager Samantha Gore. The Brazilian currency has fallen by 28% against the British pound from June last year, while the U.S. Dollar is at a two- and-a-half-year high.
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