Skype Me™!

or phone us:
+34 93 511 5181


LinkedIn

Executive Accommodation & Services

     

China’s property prices cooling – MIPIM 2012

In January China’s house prices recorded their worst performance in a year signaling that the Chinese property market is finally starting to cool down. Prices fell in 47 of the 70 cities monitored by the Chinese government according to the National Statistics Bureau, while they remained unchanged in the remaining 23. New home prices in the country’s four major cities, Shanghai, Beijing, Shezhen and Guangzhou fell for a fourth straight month.

The data is a result of a two-year effort by China to curb unsustainable rising house prices through a range of measures including higher mortgage and down payment rates, as well as bans on mortgages for people who own more than two properties. It is expected that the measures will continue for the next year and that house prices could continue to fall by 10-20 percent after growing by 7 percent a year two years ago. The reason? China is fearful of creating a housing bubble and does not want people to be priced out of the market. The government has also stated that it will increase the construction of ordinary commercial homes to increase supply.

The problem China faces with effectively tampering with its property market is that property accounts for a fifth of the fixed investment in China and a collapse in the industry could have serious ramifications for the rest of the economy. According to the Financial Times, a 30 percent drop in property prices could precipitate a collapse in the fixed investment economy, which has seen year on year growth of more than 9 percent. Whatever the outcome, the cooling in the property market will result in a slowing of the Chinese economy, perhaps by as much as 2 percent over the next year.

For more information on the construction industry in China and the Asia Pacific head down to MIPIM 2012, where the movers and shakers of the property world meet in Cannes. Here at EAS we can promise you the best hotel rooms, the most sought-after rented apartments and even the odd luxury yacht or two. With our expert knowledge we’ll make sure your stay will be one you don’t forget. Click on this link to fill in our request form.

Dubai developers fall back onto retail

After three years of falling house and office prices developers in Dubai are turning their attention to retail as tourism continues to be the driving force behind the Emirate’s economy.

While the price of homes has fallen by more than 65 percent from their peak in 2008, retail sales have been rising since 2009. Retail revenue in the United Arab Emirates increased by around 5.3 percent last year to $31 billion according to the Business Monitor International and will probably increase to $42 billion by 2015. The trend has seen government-owned company Nakheel PJSC, which had to restructure $16 billion of debt last year, expanding its Dragon Mart shopping centre while trying to raise funds for 120 restaurants and 75 stores located on the tip of the Palm Jumeirah artificial island.

Emaar, the owner of the Dubai Mall, the world’s largest rentable space reported that 41 percent of its revenue and 68 percent of pretax profit came from hospitality properties and leased space including shopping malls in the first nine months of 2011. That compares with 24 percent of revenue and 27 percent of profit a year earlier.

Retailers have been flocking to the city, which has seen the opening of stores such as American Eagle Outfitters, Limited Brands, Rivoli Group and the second biggest department store in the US, Macy’s during the last year. Tourism is also up with hotels reporting an 11 percent increase in visitor numbers in 2011, while buyers spent $114 million in the first week of Dubai’s month-long shopping festival – up an incredible 53 percent on the year earlier. Companies such as Union Properties that don’t have assets in the retail sector have been suffering. The firm, which is mainly focused on homes and offices reported a full-year loss of $43 billion and had to hand over ownership of properties to settle $300 million of debt.

According to property broker Jones Lang LaSalle Dubai can expect to see a further 173,000 square metres of retail space added over the next two years. To find out more about property developments in Dubai and the rest of the Gulf head down to MIPIM 2012, 6-9 March at the Palais des Festivals in Cannes, France. If you’re after accommodation then look no further than EAS, your friendly local travel agents. We’ll find you the best hotels and rented apartments right in the heart of Cannes. Or if you prefer, why not try one of our luxury yachts – the choice is yours. Just click on this link to fill in our request form.

Toulouse, Munich and Hamburg best for investment


Toulouse, Munich and Hamburg have been revealed as the most attractive places for buy-to-let investments in Europe according to a study carried out by German-based real estate agent Patrizia Immobilien AG. The study looked at 82 different cities across Europe taking into account their demographics and economic data such as population and economic growth, population density and unemployment and employment rates.

 

The results illustrated that the best places for high returns on investment were cities in north-west Europe including countries such as Germany, France, the Netherlands and Scandinavia, with Toulouse, Munich and Hamburg claiming the top spots.

 

The researchers divided the cities into four groups depending on the level of their returns in investment and the risks involved. At the top of the list were the cities and capitals of north-west Europe where above-average incomes could be achieved with low risks. The second group was composed of cities that have a below-average risk and below-average income prospects. These included Italian cities in addition to a few cities in Greece and Spain. The third group was made up of most of the cities in the Iberian Peninsula and English regional markets as well as some Eastern European cities where investors could expect a below-average income at high risks. The final group contained cities from the Baltic States, Poland and most Eastern European capitals where the comparative high risk of investing could be compensated by high returns.

 

To find out where the best European property investments can be made don’t miss the chance to attend MIPIM 2012, held in Cannes, March 6-9. If you’re after accommodation then look no further than EAS, your friendly local travel agents. We’ll find you the best hotels and rented apartments right in the heart of Cannes. Or if you prefer, why not try one of our luxury yachts – the choice is yours. Just click on this link to fill in our request form.

Insurers to provide more finance


European-based insurer Axa has created a €2.5 billion fund which it will put towards the development of new offices, shopping centres and other commercial properties across Europe as it hopes to enter the gap in the property market created by retreating banks and other debt lenders since the financial crash.

 

The French firm has so far invested in high profile developments including the Kohm Pederson Fox-designed office block Sixty London and the new Coface headquarters in Paris. The move comes as more and more European banks look to cut the amount of money they lend to the property sector as a result of the subprime crisis in 2007 and the ongoing European debt problems.

 

“We are already beginning to see a strong pipeline of potential investments…. ranging from land or speculative developments through to refurbishments and we expect to see a further increase in such opportunities in 2012,” explained Laurent Vouin head of opportunistic funds at Axa Real Estate.

 

The move by Axa could see insurance companies regain their position as key sources of finance to the property sector, a role they lost in the 1980s to an aggressive banking sector. The next two decades left banks dangerously overexposed to bad property debt following the collapse of the market in 2007. Since then they have been forced into heavy writedowns on billions of euros worth of non-performing loans and are now more cautious in providing debt to the sector.

 

However no matter how much movement there is from the insurance industry it is unlikely that it will be able to cover the shortfall in property finance caused by the retrenchment of the banks. According to a recent report by BNP Paribas it is estimated that insurers will only be able to fill a mere 17 percent of the financial hole left by European banks shedding exposure to the sector.

 

To see if they are right and for more information on the state of the property and construction sectors in general, head down to MIPIM 2012, March 6-9 at the Palais des Festivals in Cannes, France. For the city’s best hotels, rented apartments and villas look no further than EAS, the local travel agent you can rely on. We have rooms in the most centrally located hotels, beach apartments with sea views, penthouses and even luxury loft apartments. We also offer yacht charters for those after something a little different and can organise all your transportation, dining and entertainment needs. Click on this link to fill in our request form.

 

Green retrofitting all the rage


 

Good news for environmentalists in the US this week, as the number of green retrofitted buildings overtook the number of newly constructed green buildings for the first time.

 

According to a reports by the US Green Building Council’s (USGBC), by December this year the number of existing buildings with a certification in Leadership in Energy & Environmental Design (LEED) had surpassed new construction LEED buildings by 15-million square feet. The trend for retrofitting is something that has exploded in the US since 2008 as building owners try to save money by making commercial and residential spaces more environmentally friendly. LEED-certified buildings are not only more energy and water efficient, but they also benefit from improved indoor air quality thanks to a reduction in the use of toxic cleaning products. Over the next four years the industry of retrofitting older buildings so that they adhere to LEED environmental standards could be worth up to $18 billion in the US alone.

 

The increase in retrofitted LEED-certified buildings is a direct result of the global economic slowdown and its impact on new construction in the US, according to David Cohen, senior director of property at Fireman’s Fund Insurance Co, the first property insurance firm to offer green insurance in the US. He believes that green buildings have a threefold appeal by benefitting owners, tenants and the environment. “Green buildings can boost real estate owners’ bottom lines by reducing operating costs, attracting and retaining quality tenants and improving the environment,” he says. A study by CoStar Group seems to agree with him, reporting that green buildings outperform their non-green peers in terms of occupancy, sale price and rental rates. And the owners of the recently LEED-certified Empire State Building have forecast that they will cut energy consumption by an incredible 38 percent saving $4.4 million annually – not bad for a building that’s 80 years old.

 

There are over 43,000 projects across the globe participating in the LEED rating systems. For a glance at some of the more recent developments, make sure you don’t miss MIPIM 2012 held in Cannes, 6-9 March. For accommodation look no further than EAS, your friendly local travel agents. We can provide you with the best hotels, apartments, and even luxury yachts right in the heart of Cannes. With our expert knowledge of the region, we’ll ensure that you have the best stay possible. Click on this link to fill in our request form.

Fear of inflation boosts German construction


 

Despite the continuing financial nightmare of the Eurozone, Germany’s construction industry is actually benefiting from the chaos. The reason? Investors inside and outside the country are increasingly looking to real estate as a hedge against the continent-wide increase in inflation caused by the debt crisis.

 

Over the first last nine months of 2011 homebuilding permits in Germany rose by an astonishing 22 percent, while those for apartments went up by 43 percent – the most in more than two decades. According to Heiko Stiepelmaan, deputy chair executive officer of the Construction Industry Association in Germany, it is the fear of inflation and a lack of other profitable and safe investing alternatives that has caused the rise. There are already signs that investors from southern European countries have started to buy up new property in the German market amid concerns that the single currency might fail, he says.

 

The increased demand has seen property prices in Germany climb by more than 4 percent in 2011 – twice the average annual increase of 1.9 percent from 2005 to 2010.  This construction growth could add further resilience to the German economy as the European Union slides towards another recession.

 

And while Germany’s construction industry is bucking the downward trend, the UK government has announced it is to spend €5.9 billion to improve the country’s infrastructure and boost construction. The plans announced by Chancellor of the Exchequer, George Osbourne, include a €1.2 billion injection into the rail network, in addition to 35 road and rail upgrades across the country. It is hoped that the investment will boost short-term activity in the UK and create thousands of jobs.

 

MIPIM 2012 has all the latest information on construction projects from across the globe, so make sure you head down to the Palais des Festivals, Cannes from 6-9 March, 2012. For rooms in the most centrally located hotels, or luxury rented apartments look to EAS, your trustworthy local travel agent. Not only can we organise all you accommodation needs, but we can arrange transport, nightly entertainment, restaurant reservations and even luxury yacht charters. Click on this link for more information.

Brazil bucks the trend


 

Given the never-ending troubles with the Euro Zone, now is a good time for investors to be eyeing up opportunities a little further afield, most notably in Brazil. The country that is expected to be the world’s fifth biggest economy by 2020 has emerged, along with Russia and China, as one of the most resilient property markets in the world according to the Royal Institute of Chartered Surveyors. The organisation puts the country’s rental and capital value expectations at high for the foreseeable future, and reports that demand by investors is stronger than it’s ever been. In fact the average asking price for rents nationwide climbed 2.5 percent over the last year, while Sao Paulo’s central business district saw increases of a whopping 22.6 percent.

 

Given upcoming international events such as the Olympics and the World Cup, as well as recent interest rates cuts by the Banco Central do Brasil, there has never been a better time to buy in the country. While increases in tourism mean that investors can now expect good returns. Hardly surprising then that real estate companies in Europe are looking to be a part of the action. Leading European property company Neinver recently announced that it is looking to expand its operations into the South American country, citing its considerable socioeconomic development and infrastructure possibilities as the main reasons behind the move.

 

No doubt you’ll want to be part of the action too, so make sure you head down to MIPIM 2012, held in Cannes, March 6-9 for all the info on Brazil’s latest commercial and non-commercial developments. If you’re after accommodation then look no further than EAS, your friendly local travel agents. We’ll find you the best hotels and rented apartments right in the heart of Cannes. Or if you prefer, why not try one of our luxury yachts – the choice is yours. Just click on this link to fill in our request form.

Demand for commercial space to shrink


 

When it comes to office space it seems that in the future Europe won’t be needing so much of it. Findings by the commercial brokerage, Colliers International, paint a somewhat bleak picture for the future of the humble office as the working population of Europe continues to shrink. It believes the next 40 years will see a reduction in demand for commercial space by up to 20 percent as Baby Boomers leave the workforce and are not replaced. What’s more the style of offices is expected to change with the cellular design favored by Baby Boomers making way for the more open plan offices preferred by both Generations X and Y.

 

The findings will prove interesting for developers, owners and businesses who should take these changes into account over the next decade. Given that the average office has a 20-year lifecycle new commercial spaces should be built with these future trends in mind. Those that aren’t will suffer from higher vacancy, obsolescence and lower rents according to Colliers.

 

And the shrinking workforce will have a different impact across the continent with western, eastern and southern areas seeing the biggest decline in office demand. Northern Europe (including the UK), however, will see continued growth in the number of people working thanks to an increased level of immigration, especially in the UK where the workforce is expected to increase by 2.18 percent over the next 40 years. The trend might also be bucked in Eastern Europe where an outsourcing boom could mean job growth and an increased demand for office and commercial space.

 

For a chance to see the very latest office and commercial spaces on offer throughout Europe head down to MIPIM 2012 in Cannes. While we can’t promise you an office, we can promise you the best hotel rooms, the most sought-after rented apartments and even the odd luxury yacht or two. With our expert knowledge we’ll make sure your stay will be one you don’t forget. Click on this link to fill in our request form.

 

 

Present your company on our blog!

Hi,

 

 

In an effort to help our clients and potential clients increase their web exposure and networking, we would like to offer you the opportunity to present your company free of charge on our companies’ s web blog.

 

Take the opportunity to leave a short “companies resume” on this blog now!  You can even leave your logo as free advertising there too!

 

Should you be interest, please send us here a short description of your company and anything that may be relevant to the presence of your company at one of our featured events.  Please also indicate if you want us to publish your company’s logo on our website and blog (we need your written authorisation to so) and the web address of your site so we can add a direct link to you from our page.

 

I hope you will find our offer of interest and stay at your disposal if you have any question.

 

France is top dog


France has overtaken Spain as the most popular place for Britons to buy a second home, according to a number of recently released reports. A survey by Savills International claims that in the two-year period between 2009-2011, twice as many houses were purchased in France than in Spain, with the decline in the Spanish housing market highlighted as the main reason for putting off British buyers.

 

While Spain has seen a reduction in demand, other traditionally established and high-end markets such as southern France, Switzerland, the Algarve and Tuscany have continued to see high sales and stable property prices. And despite the overall downturn in Spain, the islands of Ibiza and Mallorca are still seeing high numbers of foreign buyers.

 

Overseas mortgage company Conti backed up the survey by Savills reporting that over the last year 39 per cent of all enquiries have been for France, with Spain coming in second with close to a third. The reason, according to Conti, is that investors see France as an accessible market that is both safer and more stable than Spain, and one that will generate steady returns.

 

But the good news is that Spain is on the rebound. Both Conti and UK house builder Taylor Wimpey claim that enquiries on Spanish property are up this year, with Conti reporting a 7 per cent increase, while Taylor Wimpey says enquiries are up an incredible 45 per cent on their Spanish developments. In fact it is estimated that 100,000 new homes will be sold in Spain in 2011 as foreigners start to take advantage of the housing slump and look to pick up some bargains.

 

So if you’re interested in all the latest residential property developments in both France and Spain, head to MIPIM in Cannes in March 2012. For the best hotel rooms, rented apartments and even private yachts look to EAS for all your accommodation needs. We can also help you with restaurant bookings, nightly entertainment and all your transportation requirements. Click on this link to fill in our request form.

 

Next Posts