Realcast: UK rate rise and boost for transparency, Norway gets luxury brand, Greece in focus
In the spotlight this week:
The Bank of England’s announced the UK’s largest rate rise since 1995 which coincided with news of a decline in construction output and expectations that the country’s recession is expected to occur earlier than expected.
Property’s strength as hedge against inflation could be challenged because the inflation cycle is not typical, says one investment manager.
The news is not all gloomy and Europe’s return to ‘the office’ is gathering pace with an average of 43% office occupation, with Paris, Madrid and Cologne in the lead.
And while in Dusseldorf, Germany, Union Investment’s acquisition of an office building indicates continued optimism there a JLL report revealed that the office sector has taken the lion’s share of investments in Italy in H1, 2022.
Recent investment deals have also shown that investors regard Poland as at least one place with potential for the logistics market. Cushman & Wakefields acquisition of logistics specialist Burbage Realty is further indication of the strength of the sector.
Regeneration remains a strong theme and the Commonwealth Games in UK city Birmingham highlighted that it is also the 10th anniversary of the London Olympic Games which is still having a promising effect as the latest residential projects in east London indicate.
Redevco is meanwhile gearing up for more resi projects and has made a new hire in the UK.
In the Nordics there has been a big win for Norway as Dior chose Oslo as the location for its first Scandinavian store.
The UK’s Property Register of foreign companies’ interests in UK property, designed to provide greater transparency to property transactions, has started work.
One of the world’s largest shipping companies is diversifying which could be a sign of more to come as the potential of the sector becomes clearer.
Greece is back in the headlines as Spanish Azora acquires a five-star hotel on Rhodes.
Click on the video to see the full discussion or listen to the podcast below.