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Property news by Property Wire

Sun
Jul 20th
2008
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News related to construction

UK builder demolishes walls to save cash
2008-07-19 09:01:37 [Europe]

A UK developer hit by the credit crunch has demolished half built homes to avoid paying staged payments to the local council planning department.

Read full article: [UK builder demolishes walls to save cash]
 
Risk planning zones in France have major implications for property
2008-07-16 18:09:38 [Europe]

The French government is creating new planning zones to take into account the possible effects of natural disasters which have major implications for developers and property owners.

Read full article: [Risk planning zones in France have major implications for property]
 
Spanish property crisis deepens as major developer files for bankruptcy
2008-07-16 10:14:45 [Europe]

Major developers in Spain are now crashing under the pressure of the country's worst property downturn. The future of thousands of homes under construction are now in doubt.

Read full article: [Spanish property crisis deepens as major developer files for bankruptcy]
 
Spanish developers urged to exploit surge of interest in eco property
2008-07-14 10:04:53 [Europe]

Eco homes could be the answer to Spain's failing property market, experts believe. Developers should take notice of the surge in interest and offer some kind of 'green' element in their buildings.

Read full article: [Spanish developers urged to exploit surge of interest in eco property]
 
Dip in Mumbai property market prompts developers to offer freebies
2008-07-09 10:22:43 [Asia]

The property market in Mumbai is reporting a dip in house prices and rentals, with those in the suburbs the worst affected.

Read full article: [Dip in Mumbai property market prompts developers to offer freebies]
 
World's first carbon-neutral city delayed again
2008-07-08 10:24:13 [Asia]

Dongtan, China's flagship eco-city is facing delays before the main construction even gets underway with completion of the first phase now unlikely before 2012.

Read full article: [World's first carbon-neutral city delayed again]
 
New construction banned as concerns about over development in Bulgaria increase
2008-07-07 09:32:06 [Europe]

Over development in Bulgaria is having a serious effect as various projects are being halted over concerns about quality, standards and a lack of planning and vision.

Read full article: [New construction banned as concerns about over development in Bulgaria increase]
 
Las Vegas ripe for those seeking a long term property investment
2008-07-06 10:34:53 [North America]

Mountains could be the saving of the Las Vegas property market which has undergone one of the biggest slumps in the US.

Read full article: [Las Vegas ripe for those seeking a long term property investment]
 
Plans submitted for one of UK's largest mixed use developments despite downturn
2008-07-05 18:09:56 [Europe]

Some property developers and builders in the UK are suffering in the current climate but major projects are still going ahead.

Read full article: [Plans submitted for one of UK's largest mixed use developments despite downturn]
 
No recovery in Spanish property market for at least three years
2008-07-04 09:40:03 [Europe]

The troubled Spanish property sector is unlikely to recover for at least three years, according to the latest report from a group of 19 European research institutes.

Read full article: [No recovery in Spanish property market for at least three years]
 
Construction of international airport starts on St Vincent
2008-06-29 10:57:34 [South America]

Work on the much anticipated international airport for the Caribbean island of St Vincent has started along with a promise from the government that it will open on time in 2011.

Read full article: [Construction of international airport starts on St Vincent]
 
Bargain property hunters in Spain advised to look beyond the cheap price
2008-06-24 18:06:58 [Europe]

Bargain properties in Spain may not be all that they seem, with some suffering from shoddy workmanship.

Read full article: [Bargain property hunters in Spain advised to look beyond the cheap price]
 
Twenty year tax exemption for property investors renewed in Panama
2008-06-24 10:23:47 [South America]

The 20 year tax exemption for buyers in Panama which expired last year has been restored to keep the country's booming real estate market on the rise.

Read full article: [Twenty year tax exemption for property investors renewed in Panama]
 
New property law in Nicaragua could halt coastal development
2008-06-22 10:31:57 [South America]

A new coastal law under discussion in Nicaragua could severely restrict and even halt beachside developments, it is feared.

Read full article: [New property law in Nicaragua could halt coastal development]
 
Condo-hotel market needs serious management, leading player claims
2008-06-20 18:05:19 [North America]

A leading tourism expert has hit out at criticism of the condo-hotel market, saying a few unprofessionals are tainting what is essentially a sound property investment.

Read full article: [Condo-hotel market needs serious management, leading player claims]
 
Sit out 2008, spanish property investors are advised
2008-06-18 10:29:54 [Europe]

The property market in Spain is 'dead' and unlikely to improve in 2008, according to two experts.

Read full article: [Sit out 2008, spanish property investors are advised]
 
Demand will continue to outstrip supply in Dubai, it is predicted
2008-06-16 10:39:28 [Middle East]

Worries that the real estate market in Dubai is a bubble waiting to burst are dismissed by the major developers who claim that population growth alone will be enough to sustain demand.

Read full article: [Demand will continue to outstrip supply in Dubai, it is predicted]
 
Asia property market must hasten its adoption of green issues
2008-06-14 18:05:51 [Asia]

Real estate markets in Asia are being urged to embrace 'green' technologies and help in the global fight against climate change.

Read full article: [Asia property market must hasten its adoption of green issues]
 
Hyderabad aiming high in property terms
2008-06-13 18:02:17 [Asia]

Hyderabad, the fifth larges city in India, is aiming high. Officials have given the go-ahead for it to become a skyscraper city with a minimum construction limit of 30 floors.

Read full article: [Hyderabad aiming high in property terms]
 
British architects lead the world in 'eco' techniques for major property developments
2008-06-12 14:04:20 [Europe]

British architects are leading the way in developing new techniques for buildings in Russia that need to cope with extreme temperatures.

Read full article: [British architects lead the world in 'eco' techniques for major property developments]
 
Moroccan government tries to help first time buyers
2008-06-09 14:09:29 [Africa]

Britain is not the only country where first time buyers are being priced out of the market or unable to get finance to get on the first rung of the property market.

Read full article: [Moroccan government tries to help first time buyers]
 
Construction on Olympic Village starts in London amid property gloom
2008-06-08 11:18:09 [Europe]

Three years after London won the 2012 Olympics construction work has started on the Olympic Village but opinion is divided over whether there will be a great effect on property prices.

Read full article: [Construction on Olympic Village starts in London amid property gloom]
 
Dubai Expo puts facilities management at top of property development agenda in the Middle East
2008-06-06 18:09:28 [Middle East]

Developers who fail to invest in professional property maintenance suffer in the same way as motorists who take their cars to cheap back street garages, it is claimed.

Read full article: [Dubai Expo puts facilities management at top of property development agenda in the Middle East]
 
Over supply worries hit Panama City condo market
2008-06-04 10:25:11 [South America]

High speculation property investment is coming to an end in Panama and investors should look to the longer term, it is claimed.

Read full article: [Over supply worries hit Panama City condo market]
 
Energy efficient building increasing in popularity in UAE
2008-05-29 10:38:32 [Middle East]

Green building is increasing in busy areas like the United Arab Emirates as property developers realise the benefits of saving energy.

Read full article: [Energy efficient building increasing in popularity in UAE]
 
Architects, manufacturers and developers gear up for eco-homes
2008-05-23 14:02:44 [Related Stories]

Eco-homes are here to stay and will become ever more popular as uncertainty about fuel supplies increase and costs continue to rise, according to a leading architect in the field.

Read full article: [Architects, manufacturers and developers gear up for eco-homes]
 
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]
 
Over half a million Spanish properties built since 2005 still unsold
2008-05-09 18:05:58 [Europe]

As a result of the real estate crisis in Spain, nearly one third of the 1.8 million properties build since 2005 cannot be sold, according to a leading construction association.

Read full article: [Over half a million Spanish properties built since 2005 still unsold]
 
Don't forget the 'hidden' property repair costs
2008-04-30 14:01:07 [Related Stories]

Foreign property investment is not just about the cost of the house, too many buyers don't take into account the amount of money needed to repair and renovate, according to a chartered surveyor.

Read full article: [Don't forget the 'hidden' property repair costs]
 
International developers and architects keen on eco friendly projects
2008-04-15 14:01:50 [Related Stories]

The environmental impact of new buildings is becoming important as eco property investors increasingly seek out developments that lessen the impact of global warming.

Read full article: [International developers and architects keen on eco friendly projects]
 
Cádiz first to 'benefit' from construction crackdown
2008-04-12 18:08:10 [Europe]

The Spanish government has announced ambitious plans to return the coast of Cádiz to its natural state.

Read full article: [Cádiz first to 'benefit' from construction crackdown]
 
Infrastructure investment points to strong profits in Sofia property market
2008-04-10 18:04:32 [Europe]

Overseas investors in Sofia, the capital of Bulgaria, are likely to see strong property price growth during 2008, according to market analysts.

Read full article: [Infrastructure investment points to strong profits in Sofia property market]
 
Greenspan believes Spain has 'bigger' real estate bubble than US
2008-04-10 14:02:26 [Europe]

America's leading economist Alan Greenspan has given a gloomy prediction for Spain's already ailing property market.

Read full article: [Greenspan believes Spain has 'bigger' real estate bubble than US]
 
UK government's ecotowns poised for battle
2008-04-10 09:09:48 [Europe]

The parents of Britain's former No 1 tennis star Tim Henman are just some of those who have decided to battle against plans by the UK government to build up to 10 ecotowns by 2020.

Read full article: [UK government's ecotowns poised for battle]
 
Off-plan offers healthy profits for those who do their homework
2008-04-08 14:01:46 [Related Stories]

Despite gloom and doom about many property markets it is still possible to make a healthy profit by buying off-plan, according to a new guide for property investors.

Read full article: [Off-plan offers healthy profits for those who do their homework]
 
Credit crunch 'protects' Thai property market in the long term
2008-04-07 14:09:21 [Asia]

The credit crunch may be biting across the globe but according to property investment experts it is a good thing for Thailand. It isn't affecting people directly but an indirect effect is likely to be realistic valuations and therefore long term stability for investors.

Read full article: [Credit crunch 'protects' Thai property market in the long term]
 
'Monaco' of the Middle East set to trump Dubai
2008-04-06 14:01:26 [Middle East]

It's still just a few minarets in the desert, but it's poised for a property explosion. The lunar landscape of Ras Al Khaimah is about to be transformed. It is creating a buzz about being the next Dubai.

Read full article: ['Monaco' of the Middle East set to trump Dubai]
 
Property investors look for the 'World Cup' factor
2008-04-01 15:03:25 [South America]

The Northeast coast of Brazil has experienced massive exposure in the past 12 months and now excitement is being increased by the draw of the 2014 World Cup.

Read full article: [Property investors look for the 'World Cup' factor]
 
Property tax law boosts interest in Panama
2008-03-31 14:02:38 [South America]

Panama may be best known for its famous canal, but it has also received a boost on the investment front from the property tax exemption laws for new buildings.

Read full article: [Property tax law boosts interest in Panama]
 
Further expansion to take place in Dubai
2008-03-21 07:03:03 [Middle East]

A series of projects have been planned for Dubai expansion this year, totalling UAD 3 billion for the fiscal year in the budget.

Read full article: [Further expansion to take place in Dubai]
 
Record setting land deal made in india
2008-03-20 19:03:03 [Asia]

Delhi based real estate developer BPTP set a new Indian record during a mega-auction when they won a 95-acre plot. Their bid for the plot was INR 5006 crores (which roughly translates to USD 1.2 billion).

Read full article: [Record setting land deal made in india]
 
New developments planned for Abu Dhabi
2008-03-15 09:04:24 [Middle East]

Abu Dhabi is poised to have a property market just as big if not bigger than Dubai. The current construction projects totaling $90 billion show just how much promise the region has.

Read full article: [New developments planned for Abu Dhabi]
 
Growth in egyptian real estate continues
2008-03-12 19:06:32 [Africa]

Recent reports suggest that Egypt's real estate market is remaining strong. This is happening in spite of the skyrocketing costs of building materials, suggesting a certain maturing of the overall market.

Read full article: [Growth in egyptian real estate continues]
 
Limitless receives loan to start projects
2008-03-12 09:04:43 [Middle East]

Limitless, a Dubai-owned developer, has received a $1.2 billion loan under Sharia law from 18 different international banks. This loan allows them to go forward with many different projects including work on the Arabian Canal and homes for 1.5 million people in Dubai.

Read full article: [Limitless receives loan to start projects]
 
Canada sees growth in property construction
2008-03-11 18:02:44 [North America]

Reports indicate that a large growth that was unexpected in Canadian housing starts hit in the month of February.

Read full article: [Canada sees growth in property construction]
 
Property market in Fujairah is heating up
2008-03-10 17:01:49 [Middle East]

Fujairah has been relatively off the map in the recent boom in the UAE, but this it appears is about to change. Dubai Investments has partnered with the Fujairah government on four new projects worth UAD 2.5 billion.

Read full article: [Property market in Fujairah is heating up]
 
Gulf construction costs lower than many other regions
2008-03-07 07:04:54 [Middle East]

The costs of construction in the Middle East are lower than in North America and Europe and even than in some places in Asia. Primarily, this has to do with lower costs of importing raw materials as well as lower costs for labour.

Read full article: [Gulf construction costs lower than many other regions]
 
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]
 
Incentives in Australia for affordable home builders
2008-03-03 09:03:03 [Australasia]

Housing plan will offer more affordability to Australian housing market.

Read full article: [Incentives in Australia for affordable home builders]
 
Saudi Tower to trump Burj Dubai
2008-02-26 16:01:33 [Middle East]

Kingdom Holding Company is set to start looking at bids for construction of a mile high tower in Saudi Arabia.

Read full article: [Saudi Tower to trump Burj Dubai]
 



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Feature story

Winners and losers in the global property market defined by growing oil prices

Soaring oil prices are affecting property investment across the globe to such an extent that countries that import energy supplies are likely to see even more of a downturn before markets bottom out.

Company news

Phuket tourism rising above global worries

Constantly rising oil prices have been taking their toll on the travel and tourism industry, especially with airlines raising prices or cutting flights and routes - or both. As a result, the Tourism Authority of Thailand (TAT) recently announced a downward revision of its predictions of tourist figures for 2009.

Forum Watch

Tough times need tough investors

It is difficult to escape the property headlines this week with all news outlets mentioning property. The frustrations of investing in property during a downturn are well documented in the forums this week.

Currency watch

Dollar gains ground over good data

The US dollar gained a lot of ground yesterday as good data was released in the US. There was a large selloff in Crude Oil futures as US crude inventories gained an unexpected 3.0M Barrels.

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