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Southern Spain cracks down on Airbnb style holiday rentals
In response to the growing backlash against mass tourism, Spain's Valencia region in the south has joined a growing list of governments that are cracking down on holiday rentals similar to Airbnb.
The regional government overseeing beach…
UK house prices are rising at the fastest rate since 2022
The housing market is "relatively stable" despite the fact that many people still struggle to buy their first home.
According to Nationwide, Britain’s third largest mortgage lender, the average house price has increased by 2.1% compared…
British Gas’ profits are down by 84 percent as the price cap is lifted
The owner of British Gas has seen its profits plummet dramatically due to a decline in wholesale gas prices and a continued drop in energy prices.
Centrica's adjusted profits have more than halved to £1.04bn in the first half of the…
Nationwide is the first major lender to offer a mortgage rate below 4% in months
The Nationwide Group is the first major lender to offer a mortgage for five years at a rate of less than 4 percent in recent months. Lower borrowing costs have injected optimism into the housing sector.
The building society announced…
The buy-to-let market has shrunk for the first time since almost 30 years
Buy-to-let mortgage values have shrunk, for the first three decades. This is due to the high borrowing costs and lending regulations that are forcing landlords out of the market.
UK Finance data showed that the number of outstanding…
Barratt Developments will build fewer homes next year
Labour's ambitious plan to "get Britain back building" has been dealt a major blow after one the country's largest developers announced that it would be building fewer homes over the next year.
Barratt Developments is expecting to…
The construction of a super-tall London building has been delayed over a row about outdoor space
Lloyd's of London's opposition casts doubt on plans for City Tower
The decision on whether to approve London’s tallest skyscraper was delayed after new criticisms that the design would "robb" office workers vital outdoor space.…
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…