Licensing in construction can last till 2011
Written on 21 January 2009 by infosince September, 2008, quantity of the given out licenses for realization of building and design works in Russia and has increased by 30 %, in comparison with the similar period of 2007, despite of a canceling of licensing in this sphere since January, 1st, 2009.
It is expected that in the fourth quarter of 2008 record number of references behind prolongation of existing licenses and reception of new ones has been registered.
In average the quantity of the licenses, which have been given for this period, has increased by 30 %, in comparison with the similar period of 2007. The companies are ready to work under licenses still even a year as while the mechanism of self-regulation seems to much not absolutely clear and too expensive.
Let’s remind, since January, 1st, 2009, delivery of building licenses stops, however, the building licenses, which have been given earlier, will operate till January, 1st, 2010. Regulation of building activity in the further will be carried out with the self-adjustable organizations.
Knight Frank: falling of the prices for habitation worldwide
Written on 13 January 2009 by infoAccording to the Global price index on habitation of international consulting agency Knight Frank, annual rise in prices on habitation all over the world, except for Dubai, continues to decrease, in 3 quarter correction has reached 3,8 % in comparison with 4,8 %, received in 2 quarter,2008.
According to Knight Frank, in 3 quarter, 2008, average prices for the inhabited real estate all over the world have decreased on 0,3 % – it is the first time in history of drawing up of this index. More than half of the countries, presented in index, have shown quarter falling in prices, and one third from them shows a negative annual gain now.
Latvia and USA still take last positions in index; Great Britain gradually comes nearer to them.
Meanwhile, in 3rd quarter, 2008, Russia and a number of other countries of the East Europe have shown rather quite good results, and in Czech Republic rise in prices in annual calculation has even increased a little. The biggest falling of the prices occurred in Lithuania, Canada, the Great Britain and Norway. USA still take of a position in the end of the list, and quarter recession in 2,8 % means, that the prices now are almost on 21 % below, than in days of the peak.
Prices for habitation in Moscow should be reduced
Written on 3 January 2009 by infoUnicredit Aton’s analysts have declared that the buyer has returned on the market of the real estate, it is necessary, that the prices have fallen to 25-50 %. Notwithstanding the fact that in Russia deficiency of habitation is observed, buyers will not appear, yet there will be no essential reduction of prices. Analysts of bank have counted, that for revival of the market decrease on 25-50 % is required, and some developers have already gone on the similar discount. According to Unicredit Aton’s estimations, 40 % of real estate objects were bought with the investment purposes and it is possible to expect, that the market will follow RTS index. Only since September, 1st, it has lost 58 %. Earlier the Savings Bank of Russia has made the forecast that in the end of 2009 dollar prices for habitation in Moscow will fall to 47-60.
Crisis will not affect McDonald’s in Russia
Written on 24 December 2008 by infoIn 2009 world’s largest fast food network McDonald’s plans to open not less than 30 restaurants and 15 coffee houses McCafe in Russia.
In 2008 the company has already opened 15 McDonald’s restaurants and plans to start up 10 more restaurants till the end of year. Also this year one McCafe coffee house has been opened, one more is planned to be opened in the end of December, 2008.
As McDonald’s press-secretary in Russia has told, the company will mainly open new institutions in the central regions of Russia, but new regions are not also excluded.
More than 31 thousand restaurants in the world work under the brand McDonald’s. In Russia the first restaurant has been opened in 1990, now in territory of the Russian Federation 204 restaurants work.
GVA Sawyer will construct 10 outlet malls in Russia
Written on 4 December 2008 by infoWithin the next 5-6 years company GVA Sawyer plans to construct 10 outlet malls in Russia – shopping centers, where it is possible to buy goods of the known companies at the reduced prices.
At the press conference Vera Sotskaya, the president of GVA Sawyer, has told that the minimal budget of one developed mall makes one about $70 million.
As it has become known, partially realization of the outlet malls’ construction program in Russia will be financed by GVA Sawyer, which also will act as the developer of these malls and will be engaged in search of tenants for them.
The remained assets will be involved from the group of investors of Europe and from company Fashion House. Fashion House will also become malls’ managing company after their construction.
In the beginning the network of malls will be develop in Moscow, Moscow suburbs and St.-Petersburg.
Moscow is 3rd place on expensiveness of trading areas
Written on 21 November 2008 by infoNew York, Hong Kong and Moscow are the leaders in the world at cost of rent of the trading areas of smart shops, outstripping London, Tokyo and Paris. The given researches have been carried out by international real-estate company CB Richard Ellis.
The status of the most expensive business street was confirmed by the Fifth Avenue in the centre of Manhattan – average cost of rent of 1 sq. meter a year there reaches 16,817 thousand euro. Thus for the second and third quarters of currant year – before growth of financial crisis – the price has increased on 10 %.
The centre of Hong Kong is the second most expensive trading area in the world – here the price for one meter of renting area makes 9,448 thousand euro a year.
Moscow with an indicator in 8 thousand euro is on the third place.
The list, made by CB Richard Ellis, also includes London, Tokyo, Paris, Sydney, Zurich, Dublin and Los Angeles.
In Berlin real estate continues to rise in price
Written on 17 November 2008 by infoCost of the inhabited and commercial real estate in Germany has grown on 5,2 % from the beginning of current year, however it still can’t be compared with the level of 2007. Such information has been represented in Real Estate Price Indicator’s report, published by investment group Estavis.
The prices in Berlin have risen on 2 %. In the areas located in vicinities of large city agglomerations, the gain has made 0,8 %. However, as a whole on the country cost of habitation and the commercial areas has decreased on 9,3 % in comparison with last year.
Last Thursday the Federal statistical bureau of the country declared that in the third quarter of 2008 growth of gross national product of Germany was reduced to 0,5 %, after recession(on 0,4%) in the second quarter. Reduction of gross national product’s growth within two quarters testifies about the end of recession.
Demand for the commercial real estate falls all over the world
Written on 11 November 2008 by infoExperts of Royal Institution of Chartered Surveyors (RICS) -the international adviser for the real estate market – prove that demand for the commercial real estate all over the world falls.
According to interrogation, lead by RICS, recession in the market of the commercial real estate, which has for a long time occurred basically in the West, in the last some months has designated developing markets.
In the 3rd quarter of 2008 cost of real estate objects has considerably decreased.
For the first time from the beginning of the publication of reports of institute, the rent (all the world) decreases, first of all because of pure demand in the USA, Japan, Spain, Ireland and India which markets, according to authors of the report, have especially suffered from the crisis.
But the strongest falling of cost of the real estate is observed in the Eastern Europe though still three months ago appraisers predicted growth in this market.
Crisis has reached real estate market of Thailand
Written on 6 November 2008 by infoGlobal financial crisis and political disorders on local arena have negatively affected the real estate market of Thailand. However, experts consider that market crash will not occur.
According to company Citi, in the third quarter 2008 sales volumes in the real estate market of the country have gone on recession. In September volumes of new building of apartments have decreased on 55 % comparing the similar period of last year.
Nevertheless, according to the head of Thai branch of consulting agency CB Richard Ellis David Simister, political instability in the country is not something new and will not lead to a collapse of the real estate market.
The expert believes, that volumes of building of new apartments will continue to decrease. In some areas of the country the offer lack is observed.
In turn, the analysts from Asia Plus Securities have declared, that repetitions of crash of the local market, similar to 1997 crisis, is not expected.
Cyprus: €200 000 for the house
Written on 4 November 2008 by infoIn the third quarter of 2008 prices for habitation in Cyprus have grown on 1,5 % in comparison with the last quarter. Such information has been represented in the report of BuySell – the largest agency of the real estate of Cyprus.
It is noticed in the document that rates of a rise in prices for habitation in the country continue to slow down. So, in the third quarter of 2008 price have risen on 9 % comparing with the same period of the last year, whereas in the second quarter their gain has made 12,9 %.
Now average cost of habitation on island makes 193,323 thousand euro.
According to statistical department of Cyprus the number of the new building licenses, which have been given by the government of island, decreases within the last 11 months. However, thus the total cost of permissions has grown to 151,3 million euro.
