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News Briefs

Week: Monday 6 June - Friday 10 June 2005

Friday 10 June

Higher house price leads to higher credit.

Property price increases in Spain and the low cost of borrowing mean that the credit given to Spanish families now amounts to almost half of the private funding in Spain, according Caixa Catalunya's latest report, based on statistics released by the bank of Spain.

 
Thursday 9 June

No real change to Lisbon & Porto office market.

There exist significant levels of liquidity available in the market, particularly from Portuguese funds. Demand is strong for any quality product coming to the market, as shows the latest CB Richard Ellis' survey.

There have been no significant changes in the nature of the Lisbon office market during 2004, which continues to be characterised by an excess of supply, weak tenant demand, and low levels of new office space under construction. The Porto office market is much smaller than the Lisbon office market, although recent years have seen an increasing amount of construction.

 
Wednesday 8 June

Brits buying up in Bali.

Hundreds of Britons have been buying up property in the sunshine paradise of Bali. While a few live on the Indonesian island, most have bought for buy-to-let purposes, aimed at Bali's year-round tourist trade.

Despite the terrorist attack in October 2002, which killed 202 people, property prices remained stable, while the Tsunami which devastated many other parts of South-East Asia, did not affect Bali.

Property prices on the south coast, where 300ft cliffs afford spectacular views over the Indian Ocean, have increased by 20% in the past six months with a few properties selling for more than $1 million.

 
Tuesday 7 June

Offices in Bulgaria.

Class A and B office space in Bulgaria has tripled over the past six years reaching a total of 220,000 m2 of leasable office space with higher vacancy rates available in the CBD markets, according to Colliers.

 
Monday 6 June

No sign of Dubai cooling.

Sales of land plots worth $199m last week underlined the red hot nature of the Dubai property market. The Dubai Lands & Properties Department said the largest deal was for a $33m plot in Al Barsha 1. Agents said trading in the re-sale market was at record levels with little sign of a summer slowdown this year.

 

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