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Property
Norway blocks the sale of the last private property in Arctic archipelago
Norway has blocked the sale the last privately-owned property on Svalbard. Invoking national security concerns amid increased activity by Russia and China in Arctic Ocean.
Oslo's centre left government told the owners of a property in…
Property Group boss compares UK office value to melting ice cubes
According to the CEO of one of UK's biggest listed landlords, office buildings are "melting ice" for investors due to how quickly they depreciate in the current market.
Andrew Jones is the leader of LondonMetric. The company will enter…
China’s new home prices fall at the fastest rate for nearly a decade
In May, house prices in China fell at their fastest rate in nearly 10 years as an oversupply of properties hit the demand despite renewed government efforts to support the sector.
In 70 cities, the price of new housing, excluding…
Crest Nicholson, a UK-based housebuilder, suffers a loss due to the property market slump
Crest Nicholson, the UK's largest housebuilder, has cut its dividend and fallen into the red. This highlights the difficulties in the UK real estate sector.
The FTSE 250 company warned for the fourth year in a row that its profits would…
Bellway confirms £650m offer for rival housebuilder amid property crisis
A major housebuilder in Britain said that it had made a £650m offer for a competitor developer, as the construction sector is struggling with a severe recession.
Bellway informed investors that Crest Nicholson rejected the offer made…
Blackstone, a US private equity firm, has snatched up thousands of rental properties in the UK
Blackstone, a US private equity firm, has agreed to buy a number of new homes in the UK to take advantage of soaring rental prices.
Blackstone has purchased up to 1,750 houses after striking a £580m agreement with developer Vistry.…
Meadowhall sold for £360m by British Land
British Land sold its Meadowhall shopping center in Sheffield to a joint venture partner, a move that highlights the steep decline in retail property prices over the last decade.
Norwegian oil fund paid £360m for British Land’s 50%…
Landlords sell up, leaving 2,000 homes a month facing homelessness in England
Private landlords are claiming to be selling their properties, and some blame the uncertainty created by the government's delays in reforming rental laws.
According to official figures, more than 4/10 families that have requested…
China plans to buy millions unsold homes amid the property crisis
China may buy millions of unsold homes as part of an ambitious plan to address its current property crisis.
Beijing has reportedly been consulting with officials from local governments on proposals which would allow state-owned companies…
Property trust seeks £500m London Listing in Rare Boost for City
London's stock market, which has been in turmoil for years, is about to get a boost from a City Property Trust that will list a £500m trust.
Special Opportunities REIT is a newly-established real estate investment trust that will likely…
Prices of houses fall for the second consecutive month
The sharpest fall in house prices since last summer occurred in April, as the recent rise in mortgage rates dampened demand.
Nationwide, a high-street lender, reported that prices fell by 0.4% last month. This was the second consecutive…
Duke of Westminster’s Property Group Bets on Hybrid Working
Grosvenor is the property company of the Duke of Westminster. It has made a large bet on flexible workplaces in order to meet West End tenants' post-Covid needs and increase returns.
The group plans to double the size of its flexible…
Foxtons is going to sell after cleaning up its act?
It was a time when you felt that Foxtons, the London estate agency, owned London.
In the noughties its distinctive dark green Mini Coopers with yellow trim were a common sight, zipping through Notting Hill or Clapham, while passengers…
Insurance premiums are soaring, giving the Treasury a windfall in tax revenue
The rapid increase in premiums for car, pet and home insurance has brought the government a windfall worth more than £8billion.
HM Revenue & Customs reports that with one month remaining in the 2023-24 fiscal year, insurance tax…
Evergrande is accused by Chinese authorities of fraud amounting to 60 billion yuan (£60 billion).
Evergrande has been accused by the UK of inflating their revenues fraudulently by £62bn.
Hui Ka Yan is the founder of the property giant Evergrande. According to the China Securities Regulatory Commission, Hui Ka Yan "instructed" other…
Savills profits plunge after commercial property woes
Savills boss claims that the commercial property market has suffered more in the last year than even during the global economic crisis.
In 2023, the property agent's profit collapsed as he was no longer able to find work. Investors chose…
Persimmon warns that the year ahead will be challenging
Persimmon warned investors that they should prepare for another "challenging year" as the company became the latest to announce a sharp drop in profits.
The FTSE-100 listed developer, which is one of Britain's largest, has said that…
Direct Line’s boss beefs up defenses after Ageas acquisition
Adam Winslow is the new boss at Direct Line and he will be presenting some of his plans to turn around the troubled insurer. He must also fight off an Ageas takeover bid of £3.1 billion.
The former Aviva executive joined Direct Line just…