JUNE 2013 02. CHINA
Annual property growth ‘may reach 10%’
Growth in China’s residential property market will slow and reach around 10% over the next year, say fi nancial experts. Moody’s Investors Service says the government’s market cooling measures will slow growth, but the outlook for China’s market remains stable. Mass-market developers will enjoy the strongest level of sales, says the latest report.
03. FRANCE
Eco-friendly office investment could treble
Within two years, investment in eco-friendly offi ces in Paris, France could more than treble, according to global estate agents Savills.
Investment volumes
currently range between EUR 1.5 and EUR 1.7 billion, but by 2015 they could soar and top EUR 5 billion, according to the latest France investment briefi ng notes.
04. CANADA
Bet on market collapse ‘likely to be lost’
Hyphen Partners LP, of San Francisco, has staked 95% of its assets on a bet that Canada’s housing market is about to go bust and the banking sector will tumble, the Globe and Mail newspaper has reported. But two Canadian real estate professionals have told OPP they believe the housing market will not fall heavily and the bet is likely to be lost.
05.
DUBAI
Asia’s ‘most luxurious golf community’
A leading Middle East developer is to build the most luxurious golf community in the region in Asia.
DAMAC Properties, the largest private developer of luxury real estate, has announced the 28million square foot Akoya by DAMAC golf community, which features an 18-hole PGA championship course at Dubailand.
06. USA
Optimism over 2013 US vacation home sales
Fractional and timeshare professionals in America believe this year’s sales will top 2012’s numbers. A total of 78% of
professionals at the American Resort Development
Association (ARDA) World 2013 conference expect stronger sales this year. Confi dence in rising sales has risen 14% on last year.
07.
ITALY
New PM ‘may axe property tax’
There are hopes that new Italian premier Enrico Letta will bring more fi nancial stability to Italy and abolish its unpopular IMU property tax.
Market commentator Richard Way has told OPP, “The good news for other Euro nations is that Italy should now be able to focus on improving its crisis hit economy - and not on deciding who will run the country.”
08.
N.Z
New home permissions hit six-year high
Permissions for new homes in Canterbury, New Zealand, have hit a six-year high, with some districts reaching the highest level since data records, according to offi cial data. But national consents fell 5.4% year-on-year and permission was granted for just 16 new apartments, the lowest total since February 2010 and down 9.1% month-on-month.
09. UK
South dominates UK overseas property buyers
UK overseas property buyers are concentrated more in the south of England, according to new online data from one sector expert.
The largest number of buyers is in the South-East and more than a third of all UK overseas property investors come from the South, according to fi gures from The Overseas Guides Company (OGC).
10. MEXICO
Easing overseas property restrictions
Mexico lawmakers have approved the fi rst step towards allowing overseas property investors to more easily purchase homes on the coast and borders.
The lower house of congress has voted to amend the existing restrictions but the move still needs to be approved by the Senate and by Mexico’s 32 state legislatures.
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