RICS is a leading source of independent property advice to governments and global organisations.
Spotlight on new locations and why.
Canada
In Canada there has been strong demand for property especially in Vancouver and Calgary. Imperial Oil just relocated to Calgary. Demand in Vancouver has been due to the 2010 Winter Olympics, whilst Calgary has seen growth due to the resource sector, namely the Oil industry.
A staggering $18.2 worth of projects are due to complete in Vancouver prior to the 2010 Olympics.
Europe
Commercial real estate demand has been high in Budapest and Warsaw. In Prague the market has flattened due to relatively high real estate costs.
Russia has seen strong growth. Rents have risen, with demand from Russian domestic companies. Foreign operators have also penetrated the market such as: IKEA, Auchan, Real, OBI, Leroy Marlin, Kingfisher.
Some of our investment group has bought in Budapest district XI, and others are looking into projects there in more depth. We have found supply is limited by planning measures, but old style buildings with high ceilings are in limited supply.
Another RICS report undertaken by Michael Ball, a consultant and professor of Real Estate Planning at Reading University gave the following findings:
Key messages
- Double digit growth in Estonia, Denmark, France, Spain and Sweden.
- Estonia is forecast to have 25% - 30% growth in real estate this year.
- Wider choice of Mortgage finance options are now available throughout Europe. Lenders are more relaxed about their screening, inevitably the benefits of liberalised mortgage markets will feed into higher house prices.
Dubai
Investment Opportunity
A superb opportunity in a highly sought after location. + more
Italy
New Build Opportunity
Latest opportunity in Italy. Well researched. Not to be missed. + more
