The document provides an economic overview and analysis of the UK residential property market. It finds that:
1) GDP growth is expected to slow down and bottom out in 2018, while inflation is already increasing. Interest rates are expected to remain on hold until 2019.
2) House prices nationally have remained flat in recent months, with transaction volumes subdued. New home construction continues to trend upward.
3) Prime central London property values and rents have fallen slightly in the past year, with transaction volumes volatile due to political events. Outer prime London markets have also experienced minor falls.
UK retail sales in Q1 likely contracted from Q4 2016, despite their rebound in February.
Falling real wages and slowing household borrowing are likely to further dampen retail sales and consumption growth going forward.
The still large pool of available workers is seemingly limiting their wage-bargaining power, with nominal wage growth falling behind rising inflation.
Moreover, investment growth is still only making a negligible contribution to GDP growth ahead of the British government’s decision to trigger Article 50 on 29th March.
Much of the rise in inflation in recent months is attributable to imported inflation driven by Sterling’s depreciation since November 2015 with little evidence of demand-led inflation.
This situation is reminiscent of 2007-2008 when Sterling’s collapse fuelled imported and in turn headline inflation.
Should Sterling remain broadly unchanged going forward, its year-on-year pace of depreciation, currently around 9%, would slow from June onwards and hit zero towards end-year according to my estimates, in turn dampening imported inflation.
I would expect retailers to stabilise prices to maintain market share in the face of tepid demand and for wage-inflation expectations to remain modest. This was certainly the case in the 12 months to September 2009 with CPI-inflation falling from 5.2% yoy to 1.1% yoy.
The question is whether the BoE is willing to look beyond a potentially temporary rise in UK inflation – as Governor Mark Carney suggested – or whether it tries to short-circuit any self-reinforcing rise in prices.
My base-line scenario is that the BoE will look beyond the current rise in UK inflation, unless at least one of three conditions materialise:
(1) Nominal wage growth accelerates, comfortably outstripping headline inflation and driving consumption growth;
(2) Commercial bank lending picks up significantly; and
(3) Sterling depreciates materially from current levels, exacerbating imported and in turn headline inflation.
I expect that neither (1) or (2) will materialise any time soon and that while risks to Sterling are probably to the downside, Sterling is unlikely to weaken sufficiently to push the BoE into hiking. I would however expect it to keep a possible rate hike firmly on the table.
US GDP data weakest of a disappointing lot
Data released today show that Q1 2017 real GDP growth:
In the US slowed to 0.7 quarter-on-quarter (qoq) annualised, from 2.1% qoq in Q4 2016 – the weakest growth rate in three years (see Figure 1);
In the UK halved to 0.3% qoq – the weakest growth rate in a year;
In France slowed to 0.3% qoq from 0.5% qoq in Q4 2016; and
In Spain rose to 0.8% qoq from 0.7% qoq in Q4 2016.
Mercer Capital's Value Focus: Real Estate Industry | Q3 2016 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Report on Inflation - 11 September 2018OTP Bank Ltd.
Augusztusban 3.4% volt az éves infláció mértéke, ami meglepte az elemzőket, mivel a piac a júliusi csúcs után kismértékű csökkenésre számított. A meglepetést elsősorban a szezonális élelmiszerek – burgonya és zöldségek – áremelkedése okozta, amely nagy valószínűség szerint a következő szezonig hatással lesz az inflációra. A sokkal kevésbé változékony, a konjunktúra ciklustól erőteljesebben függő „trendinflációs” tételek esetében is emelkedő inflációt láthatunk, köszönhetően az erős belső keresletnek, illetve a költségoldalról érkező árnyomásnak. A közelmúltban ismertté vált hatósági intézkedések – jövedékiadó-emelés és autópályamatrica-áremelés – miatt az OTP Bank elemzői 2,6%-ról 2,8%-ra emelték az idei, és 2,2%-ról 2,5%-ra a jövő évi inflációs előrejelzésüket. Az általuk kiemelten figyelt „szűrt inflációs” mutató, amely nem tartalmazza a nagy áringadozású termékeket (szezonális élelmiszerek és üzemanyag) és tisztítva van az adóváltoztatások hatásától – vagyis azon tényezőktől, amelyeken a monetáris politika jellemzően „át szokott nézni” – 2,5, 2,6, és 3% lehet a 2018 és 2020 közötti években. Vagyis a 3%-os inflációs cél elérése az átmeneti hatások kiesését követően 2020-ra várható.
UK retail sales in Q1 likely contracted from Q4 2016, despite their rebound in February.
Falling real wages and slowing household borrowing are likely to further dampen retail sales and consumption growth going forward.
The still large pool of available workers is seemingly limiting their wage-bargaining power, with nominal wage growth falling behind rising inflation.
Moreover, investment growth is still only making a negligible contribution to GDP growth ahead of the British government’s decision to trigger Article 50 on 29th March.
Much of the rise in inflation in recent months is attributable to imported inflation driven by Sterling’s depreciation since November 2015 with little evidence of demand-led inflation.
This situation is reminiscent of 2007-2008 when Sterling’s collapse fuelled imported and in turn headline inflation.
Should Sterling remain broadly unchanged going forward, its year-on-year pace of depreciation, currently around 9%, would slow from June onwards and hit zero towards end-year according to my estimates, in turn dampening imported inflation.
I would expect retailers to stabilise prices to maintain market share in the face of tepid demand and for wage-inflation expectations to remain modest. This was certainly the case in the 12 months to September 2009 with CPI-inflation falling from 5.2% yoy to 1.1% yoy.
The question is whether the BoE is willing to look beyond a potentially temporary rise in UK inflation – as Governor Mark Carney suggested – or whether it tries to short-circuit any self-reinforcing rise in prices.
My base-line scenario is that the BoE will look beyond the current rise in UK inflation, unless at least one of three conditions materialise:
(1) Nominal wage growth accelerates, comfortably outstripping headline inflation and driving consumption growth;
(2) Commercial bank lending picks up significantly; and
(3) Sterling depreciates materially from current levels, exacerbating imported and in turn headline inflation.
I expect that neither (1) or (2) will materialise any time soon and that while risks to Sterling are probably to the downside, Sterling is unlikely to weaken sufficiently to push the BoE into hiking. I would however expect it to keep a possible rate hike firmly on the table.
US GDP data weakest of a disappointing lot
Data released today show that Q1 2017 real GDP growth:
In the US slowed to 0.7 quarter-on-quarter (qoq) annualised, from 2.1% qoq in Q4 2016 – the weakest growth rate in three years (see Figure 1);
In the UK halved to 0.3% qoq – the weakest growth rate in a year;
In France slowed to 0.3% qoq from 0.5% qoq in Q4 2016; and
In Spain rose to 0.8% qoq from 0.7% qoq in Q4 2016.
Mercer Capital's Value Focus: Real Estate Industry | Q3 2016 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Report on Inflation - 11 September 2018OTP Bank Ltd.
Augusztusban 3.4% volt az éves infláció mértéke, ami meglepte az elemzőket, mivel a piac a júliusi csúcs után kismértékű csökkenésre számított. A meglepetést elsősorban a szezonális élelmiszerek – burgonya és zöldségek – áremelkedése okozta, amely nagy valószínűség szerint a következő szezonig hatással lesz az inflációra. A sokkal kevésbé változékony, a konjunktúra ciklustól erőteljesebben függő „trendinflációs” tételek esetében is emelkedő inflációt láthatunk, köszönhetően az erős belső keresletnek, illetve a költségoldalról érkező árnyomásnak. A közelmúltban ismertté vált hatósági intézkedések – jövedékiadó-emelés és autópályamatrica-áremelés – miatt az OTP Bank elemzői 2,6%-ról 2,8%-ra emelték az idei, és 2,2%-ról 2,5%-ra a jövő évi inflációs előrejelzésüket. Az általuk kiemelten figyelt „szűrt inflációs” mutató, amely nem tartalmazza a nagy áringadozású termékeket (szezonális élelmiszerek és üzemanyag) és tisztítva van az adóváltoztatások hatásától – vagyis azon tényezőktől, amelyeken a monetáris politika jellemzően „át szokott nézni” – 2,5, 2,6, és 3% lehet a 2018 és 2020 közötti években. Vagyis a 3%-os inflációs cél elérése az átmeneti hatások kiesését követően 2020-ra várható.
E-UPDates—A Monthly Statistical Bulletin of Economic IndicatorsEcofin Surge
Monthly statistical e-bulletin comprising a quick review of the economy and about 30 tables and some charts with the latest available economic/financial market indicators, both Indian and Global.
Mercer Capital's Value Focus: Real Estate Industry | Q1 2016 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
A piaci konszenzusnál erősebben, az OTP Bank Elemzési Központjának előrejelzésénél gyengébben alakult az első negyedéves GDP. Az adat megerősítette az OTP elemzőinek az idei év egészére vonatkozó 4%-os növekedési várakozását, a kockázatok felfelé mutatnak.
The SVB Asset Management Economic Report, Q2 2017, is a review of and outlook on economic factors that impact global markets and business health.
In this edition, the team discusses the U.K.’s Article 50 notice and the FOMC’s current path towards normalization. The report also examines the Trump Administration’s first 100 days in office and current business sentiment.
The global economy effects on commodity dependent countries like zambiaKampamba Shula
On the 17th of November 18, 2016 I made a presentation at the FNB Financial Journalism academy on “The Global Economy Effects on Commodity dependent countries like Zambia”. It was well received. Below are some of the highlights
Mercer Capital's Value Focus: Real Estate Industry | Q1 2017 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
E-UPDates—A Monthly Statistical Bulletin of Economic IndicatorsEcofin Surge
Monthly statistical e-bulletin comprising a quick review of the economy and about 30 tables and some charts with the latest available economic/financial market indicators, both Indian and Global.
Mercer Capital's Value Focus: Real Estate Industry | Q1 2016 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
A piaci konszenzusnál erősebben, az OTP Bank Elemzési Központjának előrejelzésénél gyengébben alakult az első negyedéves GDP. Az adat megerősítette az OTP elemzőinek az idei év egészére vonatkozó 4%-os növekedési várakozását, a kockázatok felfelé mutatnak.
The SVB Asset Management Economic Report, Q2 2017, is a review of and outlook on economic factors that impact global markets and business health.
In this edition, the team discusses the U.K.’s Article 50 notice and the FOMC’s current path towards normalization. The report also examines the Trump Administration’s first 100 days in office and current business sentiment.
The global economy effects on commodity dependent countries like zambiaKampamba Shula
On the 17th of November 18, 2016 I made a presentation at the FNB Financial Journalism academy on “The Global Economy Effects on Commodity dependent countries like Zambia”. It was well received. Below are some of the highlights
Mercer Capital's Value Focus: Real Estate Industry | Q1 2017 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Our monthly economic review is intended to
provide background to recent developments in
investment markets as well as to give an
indication of how some key issues could impact in
the future.
Building Products and Materials Industry Insights - Q3 2016Duff & Phelps
M&A activity in the building products and materials sector was strong in 1H 2016, particularly in the second quarter with 59 completed transactions involving target companies headquartered in the U.S. or Canada. While existing home sales reached the highest annual pace since 2007 and starts remained strong, building permits declined in 1H 2016, an indication that construction activity may slow in the future.
Carter Jonas New Homes Residential View - Winter 2016Lee Layton
What type of new homes are we building, where are we building them and are they the right type of property for their local market? These are three important questions that we
aim to answer in the latest edition of the Carter Jonas New Home Residential View.
No UK rate hikes this year and room for further Euro upsideOlivier Desbarres
The odds of a 25bp Bank of England rate hike at next week’s policy meeting are all but dead in my view following tepid GPD growth of 0.3% qoq in Q2 2017.
Moreover, UK GDP growth and inflation dynamics, allied to forthcoming changes in the composition of the Monetary Policy Council, point to the record-low policy rate of 0.25% remaining on hold for the remainder of the year.
Forecasting European Central Bank (ECB) monetary policy, including the timing and modalities of changes to its Quantitative Easing program, is arguably a far trickier proposition.
While the ECB may be incentivised to slow the current rapid pace of Euro appreciation, at this stage I do not expect the ECB to try and to stop, let alone reverse, the Euro’s upward path.
Slidepack for the Ulster Bank Northern Ireland PMI report, April 2017, including analysis of Global, Eurozone, UK, UK Regions, NI & Republic of Ireland economic performance by sector
"Highlights":
Economy faces temporary slowdown
Loan portfolio is showing some signs of moderation
External trade activity drops due to slowdown in re-exports
"In Focus":
Retail trade developments, by Daina Paula
Ukraine Monthly Economic Review, July 2017 DIXI Group
Highlights
On 13 July, the Ukrainian Parliament approved a draft of the pension reform in the first reading. Thus, Ukraine moved one step closer to the next IMF tranche, and in our base case scenario the fourth review may be accomplished and the fifth tranche be released this fall.
After the decline in industrial output earlier this year, recent development shows a return to growth. Retail sales dynamics remain strong. Nevertheless, the National Bank slightly cut its growth estimate for this year on the weak H1 and a weaker harvest estimate. We keep our conservative growth estimate of 1.5% yoy for the time being.
Inflation surprised to the upside to 15.6% on higher food prices in June. We now see growing risk that inflation may leave targeted for this year range (8% yoy +/-2 pp) from the upper bound, i.e. resulting in low double-digit inflation at year-end. So far, we keep our 2017 forecast at 9.5% yoy (eop).
UAH strengthened vis-a-vis the dollar in July, falling below the level of USD/UAH 26 and allowing the NBU to increase FX reserves to almost USD 18 bn. With inflation risks elevated, the NBU stopped cutting its key rate and kept it stable at 12.5% in July and August. However, some additional restrictions on the FX market were removed or may be removed soon.
The rise in bond yields in developed economies in the past 6 weeks remains one of the over-riding themes as we head into the last seven days of the US presidential campaigns.
Markets are now fretting about the implications for global growth and asset valuations and ultimately whether elevated global risk appetite will correct more forcefully.
Higher international commodity prices, a pick-up in global GDP growth in Q3 and early Q4 and easing deflation fears suggest that interest rate policies in developed economies may have reached an important inflexion point – in line with the view I expressed six weeks ago.
Developed central banks may refrain from loosening monetary policy further near-term, with the exception of the RBNZ and possibly ECB. At the very least, policy-makers will tweak a discourse which has largely focused on doing “whatever it takes”.
Recent US data have paved the paved the way for a 14th December Fed hike, conditional on Democrat candidate Hilary Clinton wining the 8th November US presidential elections.
But with the exception of the Fed and possibly a handful of EM central banks, rate hikes are a story for the latter part of 2017 (perhaps) while further rate cuts remain on the cards in Brazil, Russia, Indonesia and India.
Higher global yields and still uncertain US election outcome are taming global equities and volatility has spiked but EM currencies have still managed to eek out modest gains.
Assuming Hilary Clinton wins next week, I would expect the initial reaction to be a rally in global equities, EM currencies and Dollar and an underperformance of safe-haven assets.
But I would also expect market pricing for a December Fed hike to rise a little further, which could in turn eventually curtail any rally in global equities and EM currencies.
In this scenario, the Dollar would likely end the year stronger, as per my January forecast of a third consecutive year of albeit more modest Dollar gains.
Whether global risk appetite avoids its early 2016 fate will depend on the interconnected factors of underlying macro data and the Fed’s credibility. In any case, market volatility could spike in the run-up to March 2017.
The self-reinforcing sell-off in Sterling and UK bonds has only very recently abated, with markets seemingly taken some comfort from a number of factors including the only modest slowdown in UK GDP growth to 0.5% qoq in Q3.
But optimism over UK GDP data is not warranted as growth has become more unbalanced and slowed in August-September despite a significant easing in UK monetary policy.
Slidepack for the Ulster Bank Northern Ireland Purchasing Managers Index (PMI). Includes analysis of Global, Eurozone, UK, UK Regions, NI & Republic of Ireland economic performance by sector
The overall measure of consumer confidence increased by three percentage points in Q3 to -5, a five year high and its largest increase quarter-on-quarter.
So far Sterling and Japanese and European equity markets have borne the brunt of the initial shock, while the FTSE is down only 3.3% since Thursday and most major and emerging market currencies have been reasonably well behaved (see Figure 1).
But there are still far many more questions than answers and the situation remains extremely fluid.
For starters there is no precedent for a country leaving the EU and thus no clear-cut rulebook to rely on. The government has limited institutional capacity to start negotiations with the UK’s 27 EU partners until Article 50 of the Lisbon Treaty is triggered and no timeline has been provided for when this will happen (assuming it is triggered at all).
Perhaps unsurprisingly given the mammoth task ahead, the Leave campaign leaders have been very short on specifics regarding the mechanics and timing of the UK’s exit from the EU, the likely shape of future trade treaties and national policies such as immigration. Prime Minister Cameron’s de-facto resignation and wholesale changes in personnel in the opposition Labour Party are adding to the head-scratching.
Moreover, it is not one country seeking to leave the EU, but a union of four countries – England, Wales, Scotland and Northern Ireland – which further complicates matters as both Scotland and Northern Ireland seem intent on remaining part of the EU and potentially breaking free from the UK.
At this point in time, all we can do is take stock of what we know (or at least we think we know) and what we don’t know (but can tentatively try to forecast).
I would conclude, as I did in Europe – the Final Countdown (21 June 2016), that the many layers of political, legal, economic and financial uncertainty are likely to keep UK investment, consumption and employment, as well as Sterling on the back-foot for months to come. Financial market volatility is also likely to remain elevated in coming weeks.
In this context the US Federal Reserve is likely to keep rates on hold in coming months and the European Central Bank can probably afford to do little for the time being. The Bank of England is likely to seriously contemplate cutting its policy rate while the Bank of Japan will be under renewed pressure to curb soaring Yen strength.
Of course, British policy-makers and business associations have come out and said the right things in order to limit the carnage and contagion. But they have far more limited room to reflate the economy and fade gyrations in financial markets than they did during the 2008-2009 great financial crisis. They are not in control at this juncture and it is not obvious who is.
Similar to Cushman & Wakefield Residential Market Commentary - May 2017 (20)
Please find the latest in our suite of Residential research reports, the Spring 2016 New Home Residential View.
In this edition we include a focus on which of the London Borough’s most need to increase their new home construction rates, and also which local markets in the regions are most reliant on the Help-to-Buy equity loan scheme.
If you have any questions regarding the report, or would like any further information, please feel free to contact me. lee.layton@carterjonas.co.uk
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...JagadishKR1
Immerse yourself in the epitome of luxury living at Urbanrise Paradise on Earth. These opulent 4 BHK villas, nestled off the prestigious Kanakapura Road in Bangalore, redefine elegance and sophistication. With meticulous craftsmanship, breathtaking design, and unparalleled amenities, Urbanrise Paradise on Earth offers a sanctuary where every moment is infused with luxury and serenity. Experience a life of grandeur and indulgence at this exclusive residential enclave.
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
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7766900371
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2. 1Cushman & Wakefield | Residential
ECONOMIC OVERVIEW
May’s Bank of England (BoE) Inflation Report indicated
the MPC (Monetary Policy Committee) will hold off
raising interest rates for the foreseeable future. While
the forecasts for the timing of the first rate hike vary
from Q2 2018 to Q3 2019, they are almost universal in
the opinion that when the ascent does commence, it
will be a gradual affair.
There was a widely unexpected slowdown in GDP in
Q1. Quarterly growth was recorded at 0.3% which was
below both the preceding quarter (0.7%) and also the
BoE’s expectation of 0.6%. While a minor upward
revision is possible, the MPC have subsequently
revised down their forecasts for this year to 1.9% (from
2.0%). However, these forecasts are based around the
presumption of a smooth Brexit process, which if
stories regarding Prime Minister May’s dinner with the
European Commission’s president, Jean-Claude
Junker’s are to be believed, has got off to a rather
stuttering start. Things look a little brighter for Q2 with
the major PMI’s suggesting GDP growth figures will fall
back in-line with the BoE’s annual expectations.
Economic Overview
ECONOMIC INDICATORS* 2015 2016
2017
(f)
2018
(f)
2019
(f)
GDP growth 2.2 1.8 1.8 1.3 1.6
Consumer spending 2.5 3.1 1.6 0.5 1.0
Industrial production 1.2 1.2 1.6 0.3 0.6
Fixed Investment 3.4 0.5 1.0 2.4 3.4
Unemployment rate ILO (%) 5.4 4.9 5.0 5.1 5.1
CPI Inflation 0.1 0.6 2.5 2.1 1.8
Exchange Rate (US$ per £) 1.5 1.4 1.3 1.2 1.2
Exchange Rate (Euro per £) 1.4 1.2 1.2 1.2 1.2
Short-Term Interest Rates (%) 0.6 0.5 0.3 0.3 0.4
Long-Term Interest Rates (%) 1.9 1.3 1.4 1.8 2.1
After a notable jump in February from 1.8%-2.3%, the CPI measure of inflation held at 2.3% for March. However the latest
release has recorded a further hike to 2.7% for April as energy and aviation price increases filtered through to take inflation
to its highest point since Autumn 2013. This brings the current rate of CPI close to its short-term expected peak of just
under 3%, with BoE forecasts predicting a topping out in the latter part of 2017, before falling largely in-line with its 2%
target by the middle of 2019.
In the jobs market, while the unemployment rate remained at the historically low level of 4.7%, the rate of wage growth in
February slowed to 1.9% in February, and was overtaken by the CPI measure of inflation, resulting in a real wage
decrease for the first time in 2½ years. Although this figure increased to 2.1% for March, it still looks as though the rate of
wage growth will run below inflation for a while to come.
Market Outlook
GDP Growth is set to slow down and bottom in 2018
Inflation Prices are already increasing
Interest rate On hold until 2019
Employment Unemployment rate stable but weak wage growth
Source: Oxford Economics
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
Mar 16 Apr 16 May 16 Jun 16 Jul 16 Aug 16 Sep 16 Oct 16 Nov 16 Dec 16 Jan 17 Feb 17 Mar 17 Apr-17
CPI Inflation & Average Earnings (y-on-y % change)
Wages Exc Bonus CPI Inflation
Source: ONS
3. 2Cushman & Wakefield | Residential
National Market
OVERVIEW
The three major House Price Indices (HPI’s) all continued to record a flat market from a price perspective, with the
Halifax index last showing an increase in prices in December 2016. The Nationwide follows suit by recording minor falls
in both March and April of this year. The historically flatter UK HPI records positive house price inflation for the first two
months of the year followed by a -0.6% fall in their latest release covering March.
The RICS market survey for April again showed a subdued market with both new buyer enquiries and new instructions
measures recording minor falls. As a result of this we would not expect any significant levels of transactional activity to
return to the market any time soon. The amount of stock currently on the market is also at very low levels, with the
survey recording 43.8 unsold instructions per contributor in April, compared with 46.8 in April 2016.
When broken down regionally, clear splits in rates of house price inflation are evident. By comparing Q1 2017 and Q1
2016 data we can identify that the North East, Yorks & the Humber, Scotland and the South West all followed their
respective 2016 trends, while other regions have had a reversal of fortunes. In this regard, the Midlands and Wales
stand out, with relatively high Q1 2017 growth replacing flat Q1 2016 figures.
Sources: UK House Price Index / Nationwide House Price Index / RICS UK Residential Market Survey
-1.5%
-1.0%
-0.5%
0.0%
0.5%
1.0%
1.5%
2.0%
Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17
Monthly % Change of Major House Price Indices
UK HPI (no Apr 17 data) Nationwide HPI Halifax HPI
-3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0%
North East
Yorkshire and The Humber
Scotland
London
East of England
North West
South East
Wales
West Midlands
East Midlands
South West
Quarterly House Price Inflation
Q1 2017 Q1 2016
4. 3Cushman & Wakefield | Residential
National Market (cont)
NEW HOME CONSTRUCTION
The volume of new home construction starts continued its upward trend throughout 2016 with over 40,000 starts in the final
quarter of the year. Although a weakened post-referendum pound has led to a marked increase in imported construction
material costs, we would expect the impact of sterling’s depreciation on overall construction cost inflation to be limited from
now on (baring further currency falls). We would therefore expect the rate of construction cost inflation to cool as we head
into the latter part of the year, with the main driver coming from well documented skill/labour shortages.
TRANSACTIONS
Latest projected sales transaction figures from HMRC highlight a possible upturn in transaction levels in March 2017. Sales
of residential property during the month were up 21% from the preceding month, although this figure is skewed considerably
by the seasonal nature of residential sales, where January and February levels are historically low. On this occasion, it is
also unhelpful to compare year-on-year levels as March 2016 experienced a significant spike in sales due to the impending
3% stamp duty surcharge on second homes. A clearer picture can therefore be obtained by comparing with the post-
2007/2008 downturn March average of 78,406. By this measure, March 2017 transactions are up 31% on the March, post
2007 average. Although this indicator of an increased fluidity in the sales market is welcome, it is worth noting that volumes
are still significantly down on pre-07/08 downturn levels.
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17
UK Sales Transactions
England Scotland Wales Northern Ireland
Post-downturn average (85,471)
Pre-downturn average (138,037)
Sources: HMRC / Department for Communities and Local Government / Department for Business, Energy & Industrial Strategy
60.00
70.00
80.00
90.00
100.00
110.00
120.00
130.00
140.00
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Q1
2013
Q2
2013
Q3
2013
Q4
2013
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Q1
2016
Q2
2016
Q3
2016
Q4
2016
Q1
2017
UK New Homes
(Index (RHS): Q1 2012 = 100.00)
UK New Home Construction Starts (LHS) Construction Costs - Labour & Materials (RHS) UK HPI (RHS)
5. 4Cushman & Wakefield | Residential
PRIME CENTRAL LONDON (PCL)
Capital values in PCL held flat during April and are down -0.4%
on the year. Increasing average discount to asking price figures
also suggest the immediate future of values is flat at best.
From a transactional perspective, the PCL market remains hugely
volatile due to what seems like an almost endless stream of
political and legislative events. This is evident in April’s figures
where year-on-year exchanges are up 75% (skewed by the
introduction of the 3% stamp duty surcharge in April 2016) but
down -57% from the preceding month, due in-part to the
announcement of June’s snap election.
Rental values in April continued to gradually fall and are currently
-1.5% down year-on-year, with the average discount increasing,
suggesting further falls ahead.
Prime London Markets
Source: Cushman & Wakefield Research / LonRes
Area definitions for report: PCL = W1H, W1U, W1G, W1B, W1S, W1C, W1K, W1J, SW1A, SW1Y, SW1P, SW1H, SW1E, SW1W, SW1X, SW7, SW3, W8. OPL = NW3, NW8, W2, W9, W11, W14, SW6, SW10.
OUTER PRIME LONDON (OPL)
Capital values in Outer Prime London also remained flat in April
after their early year falls and are currently -1.2% down for the
year, with rental values following suit at -1.2% down on April 2016
levels. Rental values look set for further falls in the coming
months as the gap between asking and achieved rents opened
up considerably from the month previous, suggesting falling
demand levels.
From a sales transactions perspective, April volumes were down
on both the month and year. It is the latter statistic that is of the
greatest importance though as April 2016 was the month the 3%
stamp duty surcharge was introduced and was one of the quietest
months in recent history for this reason, making this fall more
striking.
Indicator
M-on-M
(Mar-Apr)
Y-on-Y (Apr-
Apr)
Sales
Transactions
-57% +75%
Capital Values +0.10% -0.43%
Average sale
discount %
+8bps (5.69%) +170bps
Rental Prices -0.18% -1.50%
Average rent
discount %
+16bps (4.71%) +94bps
Indicator
M-on-M
(Mar-Apr)
Y-on-Y (Apr-
Apr)
Sales
Transactions
-34% -14%
Capital Values -0.01% -1.21%
Average sale
discount %
+2bps (4.88%) +167bps
Rental Prices -0.15% -1.17%
Average rent
discount %
+84bps (3.46%) +32bps
-6.0%
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
95.00
96.00
97.00
98.00
99.00
100.00
101.00
102.00
103.00
Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17
Cushman & Wakefield Prime London Market Index
(April 2016 = 100.00)
PCL Capital Values (LHS) OPL Capital Values (LHS) PCL Average Discount (RHS) OPL Average Discount (RHS)
6. 5Cushman & Wakefield | Residential
OVERVIEW
The introduction of tighter mortgage affordability tests in 2014, a greatly reduced number of high loan-to-income
mortgages, and a higher proportion of fixed rate mortgages, go some way to ensuring that the market is now far more
resilient to sudden shocks, such as an unexpected interest rate rise than previously. Nearly half of all borrowers are now
on fixed-rate mortgages, with just under 90% of new mortgages fixed. This should ensure that any increase will be
absorbed into the market over a period of years.
BUY-TO-LET LENDING
The gradual recovery of Buy-To-Let (BTL) activity
continued in the first quarter of the year with the
number of mortgage approvals for BTL purchases
increasing 4% on Q4 2016, defying a number of
forecasts. Approval levels are currently 15% below
pre-surcharge levels and although the gradual
removal of BTL tax relief on borrowing costs will
dampen demand, we would expect the on-going
rebalancing of levels following the distortion in activity
caused by the introduction of the 3% stamp duty
surcharge on second home ownership to keep
quarterly approvals in the 18,00-20,000 range.
Mortgage Market
HOUSE PRICE TO RESIDENT WAGES - TRENDS
As would be expected, when analysing the average resident earning-to-resident wage ratio, the least affordable areas are
all London Borough’s. An interesting trend to emerge when adding the most affordable UK areas is that affordability levels
are heading in opposite directions for these two groups. Affordability levels have decreased in generally higher value/less
affordable areas, whereas the opposite is true of the most affordable areas, where rates of house price inflation under wage
growth have generally made local property more affordable.
Sources: Oxford Economics / Council of Mortgage Lenders
0
10,000
20,000
30,000
40,000
50,000
60,000
Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017
Buy-To-Let Mortgage Approvals
0.0
5.0
10.0
15.0
20.0
25.0
Kensington and
Chelsea
Westminster Camden Hammersmith and
Fulham
Haringey North Lanarkshire Pendle East Ayrshire Blaenau Gwent Burnley
House Price-to-Earnings Ratio
Top and Bottom 5 Areas
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Top 5 Bottom 5
7. 6Cushman & Wakefield | Residential
Author
Lee Layton
Associate Director
Residential - Research
020 3296 4574
lee.layton@cushwake.com
Contacts
Candice Matthews
International Partner
Head of Residential
020 3296 3988
candice.matthews@cushwake.com
Mike Bickerton
Partner
Residential – New Homes
020 3296 3837
mike.bickerton@cushwake.com
Jack Simmons
Partner
Residential - Investment
020 3296 4991
jack.simmons@cushwake.com
Fergus Jack
Partner
Residential - Investment
020 3296 4494
fergus.jack@cushwake.com
Nick Jacks
Partner
Valuation & Advisory
020 7152 5264
nick.jacks@cushwake.com
Jonathan Godfrey
Partner
Valuation & Advisory
020 7152 5760
jonathan.godfrey@cushwake.com
Andrew Palmer
Partner
Residential - Land
020 3296 4033
andrew.palmer@cushwake.com
Daniel McDonagh
Partner
Residential - Land
020 3296 4674
daniel.mcdonagh@cushwake.com