Money Buzz! Europa

Category: Real Estate

  • European Union: Rents up by 20.8%, house prices by 20.5% since 2007

    European Union: Rents up by 20.8%, house prices by 20.5% since 2007

    House prices and rents in the EU-27 have followed very different paths since 2007. While rents increased steadily throughout the period up to the first quarter of 2020, house prices have fluctuated significantly, says Eurostat.

    After an initial sharp decline following the financial crisis, house prices remained more or less stable between 2009 and 2014. Then there was a rapid rise in early 2015, since when house prices have increased at a much faster pace than rents.

    Over the period 2007 until the first quarter of 2020, rents increased by 20.8% and house prices by 20.5%.

    House prices decreased in six EU Member States

    When comparing the first quarter of 2020 with 2007, house prices increased in 21 EU Member States and decreased in 6, with the highest rises in Luxembourg (+91.4%), Austria (+91.3%) and Sweden (+82.8%).

    The largest decreases are in Greece (-35.6%), Romania (-23.6%) and Ireland (-17.5%).

    For rents, the pattern was different. When comparing the first quarter of 2020 with 2007, prices increased in 26 EU Member States and decreased in one, with the highest rises in Lithuania (+101.8%), Czechia (+82.2%) and Hungary (+75.1%) and the only decrease in Greece (-17.5%).

  • Hostín Development sold over 50% of the homes from Housing Úvaly

    Hostín Development sold over 50% of the homes from Housing Úvaly

    Hostín Development has already sold over 50 percent of the homes from the currently built development project Housing Úvaly.

    Investment manager Arcona Capital started construction of the 20-family houses of different types in April this year.

    The centre of Prague can be reached by car or train, which runs at peak times every 15 minutes and in 25 minutes you can arrive at Masaryk’s railway station.

    Prices of vacant houses range from CZK 7.6 million to CZK 9.9 million including VAT.

  • Italian House Price Index increased by 0.9% in the first quarter

    Italian House Price Index increased by 0.9% in the first quarter

    According to preliminary estimates by Statistical Office, in the first quarter of 2020 the House Price Index increased by 0.9% compared with the previous quarter and by 1.7% compared with the same quarter of the previous year.

    The increase on annual basis of House Price Index, the largest since the second quarter of 2011, was due both to the prices of new dwellings that showed a positive rate of change equal to +0.9%, (from +1.4% in the previous quarter) and above all to the prices of existing dwellings that increased on annual basis by 1.9%.

    The increase of House Price Index occured in a context of a sharp drop of the volumes of sales (it was -15.5% the annual rate of change registered for the residential sector in the first quarter of 2020.

    The increase on quarterly basis in the House Price Index was due only to the prices of existing dwellings that rised by 1.2%, whereas those of new dwellings decreased by 1.2%.

  • Speedwell starts works on Paltim, a mixed-use project in Timișoara

    Speedwell starts works on Paltim, a mixed-use project in Timișoara

    The works for Speedwell’s newest project, Paltim, will soon kick off in the city of Timișoara. The demolition permit has been issued and the works are set to start in the first part of July 2020.

    Paltim is an urban regeneration mixed-use project that will replicate the recipe of Record Park, a project developed by Speedwell in Cluj-Napoca, planned to be delivered this year.

    Developed on an old industrial site, the former Paltim hat-factory, it will repurpose and give back to the city’s residents an important historical site, while significantly contributing to the development of the city’s central area.

    The project includes multiple functions, such as residential with 287 premium apartments, 13.000 sqm of office space and 2.000 sqm designed for retail and services (shops, cafes, and a fitness club).

    Speedwell aims to conserve the historical and cultural heritage of the location and plans to refurbish two of its abandoned buildings: an old monument villa and one part of the former factory.

    The Paltim mixed-use project will be developed in phases

    Phase 1 will include 153 apartments and 12.500 sqm of Office space and it is planned to be delivered mid- 2022.

    Speedwell will collaborate with the real estate agency Imoteca for residential sales and Griffes for the Office space leasing.

    Arhimar is the architecture firm in charge with the project’s design, while SubControl is in charge of the permitting process.

    ”Through this project, we are increasing our portfolio in Romania that already includes Record Park in Cluj-Napoca, Triama Residence, The Ivy, and MIRO in Bucharest, and Riverside City in Râmnicu-Vâlcea” states Didier Balcaen, Co-founder and Partner at Speedwell.

  • 3 new buildings for sale in Avalon Estate and Marmura Residence

    3 new buildings for sale in Avalon Estate and Marmura Residence

    Prime Kapital announced that it is launching 3 new buildings for sale in its ongoing projects located in Bucharest, namely Avalon Estate and Marmura Residence.

    The company will make another 100 units available for sale in Avalon Estate, where Prime Kapital has obtained the building permit for the entire development earlier this year and is planning to commence construction in last quarter of 2020.

    In Marmura Residence, Prime Kapital will launch the third building in the complex as sales in the first two buildings have exceeded the 75% threshold.

    Avalon Estate is in the northern area of Bucharest and offers low density living inside a gated community concept, adjacent to one of a large lake that forms part of the system of lakes in northern Bucharest.

    With a total of 746 units, the development has attracted a lot of interest and we are excited to launch the second phase of sales.

    Marmura Residence, located at Jiului subway station, close to the new office hubs in the northern area of Bucharest, offers 465 studios, 2, 3 and 4-room apartments, duplexes and 509 underground parking spaces.

  • Sharry appointed as technology partner for One Vanderbilt in NYC

    Sharry appointed as technology partner for One Vanderbilt in NYC

    SL Green Realty Corp has appointed Sharry to be a technology partner for the One Vanderbilt project scheduled to be opened in September 2020 in midtown Manhattan.

    Sharry is a Czech company and pioneer in the newly emerging market of PropTech (property & technology).

    One Vanderbilt will be the epitome of the twenty-first century workplace. Developed by SL Green Corp., the 1,401-foot-tall (427 m) commercial office building will be the 5th tallest building in the U.S. TD Bank is signed on as the anchor tenant of the 1.7-million-square-foot property, which is due to open in September of 2020.

    All users and tenants will be equipped with smart and mobile products delivered by Sharry.

    What innovations by Sharry improve One Vanderbilt experience? 

    The company brings in a new set of smart features integrated to the building; mobile access allowing workers to open doors or turnstiles just with their smartphones.

    If the workers drive, a smart camera link recognises their license plate and opens the gates. Parking management ensures maximal utilisation of parking spots.

    All users can take advantage of a tenant engagement platform for sharing important building-related news, chatting with other users, or booking shared amenities.

    Visitors to buildings where software from Sharry is installed can also expect the utmost in convenience.

    Global Innovation Centre

    Along with One Vanderbilt, Sharry is completing the implementation of its smart tools ecosystem in several other office buildings on the East coast of the USA.

    “We always wanted our software to be in the best buildings in every city to which we expanded. And New York was our dream destination. I am very proud of our entire team that we can work together here on the iconic building One Vanderbilt will soon be,” adds Josef Šachta, CEO and co-founder of Sharry.

  • Price of the agricultural land transactions in Bulgaria in 2019

    Price of the agricultural land transactions in Bulgaria in 2019

    The average price per one decar arable land reached BGN 1053 in 2019, which was 7.4% higher than in 2018; Bulgarian National Statistics Office shows.

    Average price of arable land transactions between physical and juridical persons amounted of BGN 1027, while the price between juridical persons was BGN 1122.

    Average price per one decar permanent grass land (meadows and pastures) in 2019 reached BGN 300 and was higher in comparison to the previous year by 37.6%.

    The highest price of arable land in 2019 was in Severoiztochen region – BGN 1 462 per one decar, which was by 7.7% higher in comparison to the previous year.

    In the Severen Tsentralen region the price of arable land transactions reached BGN 1138 per one decar and in the Severozapaden region – BGN 967.

    In comparison to the previous year the increase in the price in both regions was by 3.6% and 9.4%. Increase in the prices of arable land transactions in 2019 was registered in all six regions.

  • Viola Park, a new and modern neighborhood near Generali Arena

    Viola Park, a new and modern neighborhood near Generali Arena

    After the redesign of the Austria Vienna’s stadium from 2016 to 2018 the surrounding area is now being upgraded and re-used.

    On an area of almost six hectares, the new, mixed city quarter Viola Park is being built right next to the stadium.

    WSE Wiener Standortentwicklung GmbH, a company of Wien Holding, is responsible for the sub-area of approx. 3.5 hectares.

    Viola Park will have a gymnasium, a nursing and retirement home, two parks with a total area of 12,000 square meteres as well as apartments and local utilities. Between the planned buildings there will be many open spaces for the residents and the users as well as for the surrounding population.

    The surrounding area will be integrated into the new district with a close-meshed network of paths between the various open spaces and the connection to higher-level routes.

    Two parks with public passage and cross-building children’s and youth playgrounds invite you to linger. Roof and facade greening ensure good cooling and even more quality of stay.

    Energy-efficient and mobile

    The future residents and users of the buildings will be offered numerous environmentally friendly mobility offers with sufficient bicycle parking facilities in high quality, space for cargo bikes and wheel repair points on every construction site, car-sharing offers, electric filling stations and a multi-site garage concept.

    District heating and/or alternative and local energy sources such as heat exchangers for cooling, compact structures and the use of LED technology ensure energy-efficient operation of the buildings.

  • Construction output volume decreased by 2.1% in April in Hungary

    Construction output volume decreased by 2.1% in April in Hungary

    The volume of construction output, based on raw data, was 2.1% lower in April 2020 compared to the high base of the previous year in Hungary.

    Output of the two main groups of construction decreased: in the construction of buildings by 1.4%, in civil engineering by 2.8%.

    Based on seasonally and working day adjusted indices construction output lessened by 1.3% compared to the March data.

    The volume of output decreased in both main groups of construction: in the construction of buildings by 1.4% and in civil engineering by 2.8% compared to the high base of last year.

    Out of the divisions of construction, output volume went down by 2.2% in the construction of buildings, by 3.4% in civil engineering while specialised construction activities lessened by 0.8%.

    The volume of new contracts increased by 3.9%, within it the volume of new contracts concluded for the construction of buildings was 4.7% higher, the volume for civil engineering works was 3.2% higher than one year earlier.

  • Serbia: Building permits, decrease of 36.7% in April 2020

    Serbia: Building permits, decrease of 36.7% in April 2020

    In April 2020, 1.016 building permits were issued, presenting the decrease of 36.7% related to April 2019.

    When observing the period from the beginning of the year, the total number of issued permits increased by 4.1% in the first four months of 2020.

    Out of the total number of permits issued in April 2020, 69.1% related to buildings and 30.9% to civil engineering. When referring only to buildings, 62.5% related to residential buildings and 37.5% to non–residential ones, while regarding civil engineering, the largest number related to pipelines, communication and electric power lines (72.0%).

    According to the permits issued in April 2020 in the Republic of Serbia, building of 1 849 dwellings with average area of 70.9 m2 was recorded.

    Out of the total number of dwellings in new residential buildings, 7.2% of dwellings will be built in single-dwelling buildings, with average area of 173.4 m², and 91.5% of dwellings will be in buildings with three and more dwellings, with significantly smaller average area of 60.9 m².

    Anticipated value of works in April 2020 amounted to 68.5% of totally anticipated value of works.

    Observed by areas, the greatest construction activity is expected in Beogradska oblast (26.2%) of totally anticipated value of works, followed by Raška oblast (12,8%), Južnobačka oblast (12.6%), Južnobanatska oblast (7,4%), Sremska oblast (6.6%) and Severnobačka oblast (6.0%), while the shares of other areas range from 0.1 to 5.0%.

  • Number of UK mortgages approvals slump to a new 27-year low

    Number of UK mortgages approvals slump to a new 27-year low

    Data gathered by Buyshares.co.uk shows that the United Kingdom mortgage approvals slumped by 71.76% between March 2020 and April 2020.

    The slump goes on record as the biggest in 27 years.

    In March, the approvals stood at 56.160 and later dropped to 15.850 for April. The highest mortgage approvals for 2020 in the UK were recorded in February at 73.550, an increase of 3.75% from January’s figure of 70.890.

    Between April 2019 and April 2020, the approvals dropped by 76.07%. In April last year, the figure stood at 66.260. In 2019 between April and December, the approvals remained constant with an average of 65,960.

    The drop in approvals can be attributed to the coronavirus pandemic and new homeowners are set to feel the full impact.

    The Buyshares.co.uk data also overviewed mortgage approvals in the UK between January 1987 and April 2020. During the period, the approvals registered a slump of 86.61%, the highest in history.

    In January 1987, the approvals were 118.400. The highest mortgage approvals were recorded in April 1988 at 151.500 before embarking on a downward trajectory to hit a low of 62.600 in December 1992.

    Another notable slump was recorded amid the financial crisis in February 2009 at 27.000. Over the last ten years, the highest UK mortgage approvals were in March 2014 at 76.950.

  • Castellum to build world’s first climate-neutral police building in Sweden

    Castellum to build world’s first climate-neutral police building in Sweden

    • Castellum will construct an office building in central Örebro for the Swedish Police Authority.
    • The building to be constructed entirely of wood and certified in compliance with the new NollCO2 certification.

    A primary objective is for the building to have net-zero CO2 emissions throughout its lifetime.

    The project is calculated at a cost of approx. MSEK 225 – including acquired building rights of MSEK 15 – and the investment will result in an annual leasing income of MSEK 15.

    What is NollCO2 certification

    The NollCO2 certification was developed by the Sweden Green Building Council as an enrichment level of Miljöbyggnad, BREEAM, LEED and Svanen.

    This is a standard for more sustainable buildings with net-zero greenhouse gas emissions during the building’s entire life-cycle.

    Castellum has participated in SGBC’s development activities related to the NollCO2 certification.  

    How climate neutrality will be achieved for this building

    Climate neutrality is primarily achieved by building the core structures in wood instead of the traditional steel and concrete.

    Utilization of wood means that emissions will be 40% lower compared with traditional construction.

    A further solution for achieving climate neutrality will be to install sun panels on the roof.

    Construction start is planned for the summer of 2020, with completion scheduled for mid-2022.

    Castellum’s climate objectives include becoming 100% climate neutral by 2030, in compliance with national goals for a fossil-free Sweden.