JULY & AUGUST 2012 |
www.opp.org.uk
NEWS
WORLD ROUND-UP | 09
3- GERMANY High investment in Germany
Investment in German real estate reached €6.6 billion in H1 2012. The total is double that of the fi rst half of 2011 and already exceeds 2011’s full-year trans- actions of €6.2billion. Average transaction size rose to 5,800 units in H1 2012 from 1,600 in 2011.
8- GREECE Bulgarians going Greek
Greece has seen an increase of Bulgarians buying second homes in the country. A TV report said that more Bulgarians are buying abroad. Brokers said that
potential buyers were also interested in Tur- key and Austria but that Greece attracted the most interest.
1- ASIA
Asia is on top of the world Asian property markets outperformed those in the US and Europe during the last property cycle. A report reveals that Asia showed
positive total returns over the last fi ve years (with an average annual return of 6.4%). The US had negative returns (2.3% average), as did Europe (3.5%).
7- CHINA
Chinese cities’ price decline The average price of real estate across China’s largest 70 cities saw a price de- cline of 1.5% in May, year-on-year – the third straight monthly decline on a year-on- year basis. Month-on- month, home prices across the country fell 0.1%, the eighth straight decline.
10- DUBAI
Crack-down in Dubai RERA, the regulatory section of Dubai Land Department, said on June 26 it has issued fi nes totalling around $250,000 to real estate companies and brokerage fi rms in the fi rst half of 2012. Violations included not registering the broker, failure to mention the company’s regis- tration number and failure to renew the broker ID card.
4- THAILAND
Illegal nominees out A carrot-and-stick law is being drafted to protect Thailand from illegal foreign nominee ownership. If the new law is passed, punishment will be also doled out to companies off ering advice to foreigners on how to disguise their legal transactions, including law fi rms and consultants. The law would also deport foreigners found guilty of holding land plots in Thailand illegally.
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