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Property news by Property Wire

Fri
Sep 05th
2008
Home arrow Hot topics arrow Hot topics in the news

News related to banking

Financial institutions in Spain not honouring off-plan guarantees
2008-08-29 14:02:16 [Europe]

The Bank of Spain is investigating a rash of complaints from property investors that some lenders are developers are breaching consumer protection laws by stalling or refusing to honour guarantees for staged off-plan payments.

Read full article: [Financial institutions in Spain not honouring off-plan guarantees]
 
Spain's biggest property developers half year figures likely to be disastrous
2008-08-16 10:08:35 [Europe]

More bad news for the Spanish property market is expected in the next few days as the bigger listed developers publish their half year results.

Read full article: [Spain's biggest property developers half year figures likely to be disastrous]
 
Developers, banks and politicians working to boost poor Spanish property market
2008-08-13 18:09:17 [Europe]

Developers and banks in Spain are teaming up to offer discounted new build properties in a bid to kick start the country's ailing property market.

Read full article: [Developers, banks and politicians working to boost poor Spanish property market]
 
Global investment bank puts its money into Asian property market
2008-08-12 14:02:33 [Asia]

A decision by international investment bank JPMorgan to invest more than $1 billion in Asian real estate over the next three years is set to boost a struggling market.

Read full article: [Global investment bank puts its money into Asian property market]
 
Property brokers cutting costs amid fears of large scale job losses
2008-08-08 18:09:40 [Europe]

Property brokers and investment bankers in Europe are tightening their belts as major job losses are predicted a year after the credit crunch started.

Read full article: [Property brokers cutting costs amid fears of large scale job losses]
 
Russian banks exposing themselves to credit crunch risk
2008-07-26 11:33:06 [Europe]

Russian banks need to tighten their risk management to avoid the credit crunch in which global banks have so far declared more than $160 billion in mortgage related losses, finance experts are warning.

Read full article: [Russian banks exposing themselves to credit crunch risk]
 
Less choice from UK mortgage providers ought to be addressed
2008-07-17 10:23:00 [Europe]

Mortgage providers in the UK are coming under pressure to change as the lack of choice currently available for property buyers is seen as one reason contributing to the slowdown in the market.

Read full article: [Less choice from UK mortgage providers ought to be addressed]
 
Banks blamed for chronic lack of investment in Vietnam real estate
2008-07-12 10:12:38 [Asia]

The real estate market in Vietnam is slowing as rising interest rates and banks cutting lending opportunities begins to affect activity.

Read full article: [Banks blamed for chronic lack of investment in Vietnam real estate]
 
Banks in US offloading foreclosed property at 'silly' prices
2008-06-14 14:03:25 [North America]

Representatives of large institutions and even lone investors are standing outside US courthouses every morning and snapping up foreclosed property bargains as banks accept 'silly' offers.

Read full article: [Banks in US offloading foreclosed property at 'silly' prices]
 
Spanish government refuses to intervene to stimulate struggling property market
2008-05-16 14:04:20 [Europe]

The Spanish government has rejected calls to use public funds to jump start the ailing Spanish property market and bail out struggling developers and real estate agents.

Read full article: [Spanish government refuses to intervene to stimulate struggling property market]
 
Banks and mainstream lenders not only source of property funds
2008-05-12 14:04:33 [Europe]

UK property investors may be worried about the availability of funds as the banks and mainstream lenders continue their squeeze, but there are plenty of other sources of finance, according to an independent finance broker.

Read full article: [Banks and mainstream lenders not only source of property funds]
 
Cash buyers should reap benefits in 2008
2008-04-26 18:09:47 [Europe]

Astute property investors in the UK with cash reserves could find 2008 one of the most profitable years ever, according to a respected property author.

Read full article: [Cash buyers should reap benefits in 2008]
 
Losers and winners in the European property market
2008-04-03 18:06:22 [Europe]

Though some European countries are experiencing growth, recent house-price figures indicate that, as in the U.S., things in Europe are slowing down.

Read full article: [Losers and winners in the European property market]
 
Rollercoaster for Spanish property sector
2008-04-02 09:01:25 [Europe]

Real estate company Labaro became the latest victim of Spain's property sector slowdown when it filed for protection against its creditors this week, joining several other companies that have gone into administration last week.

Read full article: [Rollercoaster for Spanish property sector]
 
Property moguls want change in India
2008-03-29 15:06:09 [Asia]

Real Estate agents in India hope restrictions on foreign investment will be lifted sooner rather than later. They are lobbying for change.

Read full article: [Property moguls want change in India]
 
Freddie Mac and Fannie Mae move to jump start mortgages in US
2008-03-26 17:03:03 [North America]

The Bush Administration allows Fannie Mae and Freddie Mac to take on more mortgages.

Read full article: [Freddie Mac and Fannie Mae move to jump start mortgages in US]
 
Las Vegas hit by housing struggles
2008-03-20 08:03:03 [North America]

Las Vegas property is hurting in several ways including casinos entering foreclosures and housing projects falling through.

Read full article: [Las Vegas hit by housing struggles]
 
The overseas reverse of international property investment
2008-03-19 17:03:03 [Related Stories]

The slowing global economy is forcing several real estate companies to restructure.

Read full article: [The overseas reverse of international property investment]
 
Banks make it difficult to finance second homes in Bulgaria
2008-03-09 11:03:03 [Europe]

Purchasing properties in Bulgaria for holiday homes is becoming more difficult to finance.

Read full article: [Banks make it difficult to finance second homes in Bulgaria]
 
Abu Dhabi's 200 building goal
2008-03-06 13:03:03 [Middle East]

In an effort to solve housing shortages, the Abu Dhabi government is ramped up their building construction. They now expect to have 200 buildings constructed by 2009. The buildings will be under the purview of the Abu Dhabi Commercial Bank.

Read full article: [Abu Dhabi's 200 building goal]
 
Australian rates rise as homeowners struggle
2008-03-06 09:03:03 [Australasia]

Australian central bank increases their benchmark lending rate again. Union says that Australian homeowners are struggling and a rate increase will further hurt them.

Read full article: [Australian rates rise as homeowners struggle]
 
Romania's central bank fights inflation
2008-03-06 07:03:03 [Europe]

While Romania's central bank fights inflation, the country looks like a prime location for property investors from UK frustrated with economic problems elsewhere.

Read full article: [Romania's central bank fights inflation]
 
Big gains for two Malaysian companies
2008-03-04 10:03:03 [Asia]

Shangri-la Hotels in Malaysia has posted a 117.6% profit gain in 2007, primarily on the backs of two buildings in Kuala Lumpur that have been doing well for them. Additionally, Malaysia’s Mah Sing property development firm has increased their profit by a more modest but still extremely encouraging 24%.

 

Read full article: [Big gains for two Malaysian companies]
 
Czech Republic property market slow on increase
2008-02-28 07:04:28 [Europe]

The value of property in the Czech Republic increased mildly in the last year.

Read full article: [Czech Republic property market slow on increase]
 
New Treasury plan to help potential foreclosures
2008-02-22 21:06:08 [North America]

A new plan to help those with home values that have fallen lower than amounts owed on them is being studied by the US Treasury.

Read full article: [New Treasury plan to help potential foreclosures]
 
Vietnamese markets seeking stability
2008-02-22 12:02:45 [Asia]

Policy created by the Vietnamese Central Bank was what caused the initial boom in the property markets. Now, with cities like Hanoi seemingly changing on a daily basis, Vietnamese officials are seeking a stabilizing influence on the property market. It may be that the newest central bank policy is the way to get that done.

Read full article: [Vietnamese markets seeking stability]
 
Investors pulling out of New Zealand markets
2008-02-14 09:04:28 [Australasia]

Property investors in New Zealand are pulling out more now than ever. Furthermore, the central bank plans to level high rates until at least the middle of 2008.

Read full article: [Investors pulling out of New Zealand markets]
 
Middle East property demand to increase
2008-02-11 07:03:50 [Middle East]

More demand from domestic sources could be hitting the Middle East property market very soon.

Read full article: [Middle East property demand to increase]
 
New home loan plan for Australian homeowners
2008-02-10 19:05:45 [Australasia]

A new federal government home loan plan in Australia is put in place to save borrowers money over the years of their loan; Banks told they must participate.

Read full article: [New home loan plan for Australian homeowners]
 
Australian banks want to increase mortgage rates
2008-02-07 15:02:55 [Australasia]

Australia banks want to increase home loan rates ahead of Central Bank while home building approvals fall, showing more signs of the struggling property market here.

Read full article: [Australian banks want to increase mortgage rates]
 
Amlak beat their own profit projections
2008-02-05 11:09:37 [Middle East]

After posting very impressive gains in 2007, Amlak is looking for 2008 to be even bigger and better.

Read full article: [Amlak beat their own profit projections]
 
Interest rates stabilise in South Africa
2008-02-04 12:09:37 [Africa]

After a long rise, it appears that for the moment interest rates in South Africa are going to stay put.

Read full article: [Interest rates stabilise in South Africa]
 
Asian banks not immune to global crash
2008-02-03 19:05:37 [Asia]

People that are investing in Asian property markets as a way to guard against crashes back home should be very careful before doing so.

Read full article: [Asian banks not immune to global crash]
 
European Central Bank will not appease investors
2008-02-02 11:03:37 [Europe]

The European Central Bank is unlikely to cut interest rates, though investors hope for them. Garganas says inflation is too high of a concern here.

Read full article: [European Central Bank will not appease investors]
 
How will the Australian Central Bank handle Fed rate cut?
2008-02-01 21:09:37 [Australasia]

While the IMF cuts growth on global scale, and US Fed Reserve cuts rates again, the Central Bank here in Australia is unlikely to move based on those factors.

Read full article: [How will the Australian Central Bank handle Fed rate cut?]
 
Federal Reserve cuts interest rate for second time
2008-01-31 10:02:37 [North America]

The US Federal Reserve cut interest rates to just 3 per cent, in the hope of keeping the US Economy from falling into recession.

Read full article: [Federal Reserve cuts interest rate for second time]
 
Eastern European countries will face credit crunch
2008-01-30 12:04:22 [Europe]

Eastern European countries will likely be hit by the global economic slowdown and the credit crunch, even though much of the area is seeing incredible growth in the property markets.

Read full article: [Eastern European countries will face credit crunch]
 
Inflation concerns in Romania coupled with property growth
2008-01-29 09:08:12 [Europe]

While inflation concerns are on the minds of the central bank here, Romania's property is likely to see significant growth in the next year.

Read full article: [Inflation concerns in Romania coupled with property growth]
 
Biggest risk in Australia is inflation
2008-01-28 23:07:55 [Australasia]

Turmoil in world markets not as important as handling record 16 year fastest inflation acceleration in Australia.

Read full article: [Biggest risk in Australia is inflation]
 
Mexico under inflation pressures
2008-01-28 13:09:23 [South America]

Mexican inflation was less than expected, but inflation pressures are on central bank to make a rate cut in hopes of protecting Mexico's economy.

Read full article: [Mexico under inflation pressures]
 
ECB rate cut may not be a wise move
2008-01-28 12:06:37 [Europe]

The ECB has said it will not cut interest rates, even though some investors hope for it. Leaders say it's just not a good thing.

Read full article: [ECB rate cut may not be a wise move]
 
Canadian market strong, says Finance Minister
2008-01-27 12:05:37 [North America]

Although there may be a need to further interest rate cuts here, the Canadian Finance Minister says the economy is still strong.

Read full article: [Canadian market strong, says Finance Minister]
 
Vietnamese market to gain valuable foreign capital
2008-01-25 21:09:37 [Asia]

While attention shifts to the real estate market domestically in Vietnam, foreign investment is also set to increase.

Read full article: [Vietnamese market to gain valuable foreign capital]
 
ECB unlikely to cut rates until mid 2008
2008-01-24 16:03:37 [Europe]

Although many economists believe that a cut by the ECB would boost worrisome economies here, though inflation concerns abound.

Read full article: [ECB unlikely to cut rates until mid 2008]
 
Tamweel posts higher profits
2008-01-22 11:03:37 [Middle East]

In yet another example of the white hot Middle Eastern property market, a company has posted huge profit margins.

Read full article: [Tamweel posts higher profits]
 
Bank of Canada likely to cut rates for protection
2008-01-22 03:00:37 [North America]

As a way of safeguarding the country from the likely recession in the US, it is likely that the Bank of Canada will cut key interest rates today when it meets.

Read full article: [Bank of Canada likely to cut rates for protection]
 



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Feature story

Islamic finance poised for massive growth as London becomes key hub outside the Middle East

London is emerging as the key centre for Islamic finance outside of the Middle East as financial institutions clamber to become part of a growing market. Currently it is estimated that Islamic banking manages funds of $200 billion. It is predicted to increase by up to 15% a year and be worth a trillion dollars by 2010.

Company news

The Canaries are singing a new song

Once upon a time the Canary Islands were an exclusive holiday haunt for only a select few who actually knew where the Spanish archipelago was hidden in its tucked away corner of the North Atlantic Ocean.

Forum Watch

Forums debate the good prospects in German property market but finance is a big hurdle

With Germany emerging as one of the best longer term property investment prospects amid the credit crunch it has also become a major topic on the property forums this week.

Currency watch

Sterling still weak as Dollar gains strength

The UK sterling had a hard day yesterday as the Dollar kept on getting stronger, and UK consumer confidence slumped to a 4 year low.

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