There’s lots of property news to read about, from Nordic developments to Coworking in selfstorage properties. You can also keep up with the latest developments in the property market in Hong Kong. Whether you’re a property tycoon or just a curious bystander, you’ll find something of interest in the property industry here. There’s something for everyone, so keep reading! And, as always, you can contact us with any questions you might have!
Nordic property news
If you’re interested in the latest developments in the Nordic property market, you’ve likely seen the headlines on the local real estate press. Several notable acquisitions in recent months have caught the attention of Nordic property investors, including the Swedish retail giant Ikea’s recently announced lease with Trevian’s Pekuri shopping district. This news reflects the thriving Nordic real estate market, which has a huge supply of vacant, underutilized retail space.
According to Pangea Property Partners, the Nordic property market saw transaction volumes of EUR 29 billion in the first half of 2019. This is a record high and nearly seventy-five percent higher than the same period last year. Norway and Sweden saw a nearly two-fold increase from last year. The Nordic property market is proving itself to be an increasingly attractive investment location. The region’s economy has been improving for more than a decade, and it’s becoming more attractive to foreign buyers.
Coworking in self-storage properties
While the trend toward coworking spaces is on the rise, there are also a number of mistakes that property owners make. Often, an inexperienced coworking space owner won’t realize that they made a mistake until they’re hundreds of thousands of dollars in debt. This results in an empty space and an inability to achieve the financial goals set forth for the coworking space. The following are common mistakes property owners make when opening a coworking space.
Whether you’re an entrepreneur or a freelancer, a self-storage facility can double as an office. These units are perfect for businesses that need a place to keep their inventory and important documents. Most facilities provide insurance, so you can rest easy knowing that your inventory and business records will be secure. And as a bonus, no one else will be able to access the space, so you can work without the hassle of finding somewhere else to store your stuff.
Country houses for sale in the UK
The country houses for sale in the UK range from elegant Queen Anne halls to idyllic Cotswold stone mansions. The range of styles varies widely, with more traditional houses typically comprising more than 10,000 square feet of space. The UK has a diverse property market, with over 7300 homes sold in central London in 2012.
English country houses are prime examples of the type of property that attracts investors. Prices start from PS725,000 and go up from there. They are also great working from home options.
Stamp duty holidays have recently been extended until the end of 2021, making this an excellent time to buy a country house. The best part is that you can enjoy a tax holiday on your sale. This allows you to offset the cost of stamp duty by buying a property with land value up to PS1 million.
Hong Kong’s property industry
The recent slump in Hong Kong’s property prices is the result of several factors. First, construction activity remains weak, with completions falling by 40% yoy to 12,624 units in 2020, but rising by 53.1% in 2021, according to provisional figures released by the RVD. Secondly, strict zero-Covid policies have led to a mass exodus of residents, with net outflows totalling 65,295 in February and 66,334 in March. This is more than half the number of new residents who moved in during these months.
Third, the COVID-19 outbreak has thrown a spanner in the works for the property industry in Hong Kong. COVID-19 has caused delays in the delivery of nearly 1,900 homes in the city, putting some developers at risk of losing hundreds of millions of dollars in booking sales.
Despite the delays, one developer has found a unique solution to its rent obligation. Union Medical Healthcare, which owns a grade-A office building on Robinson Road, has successfully found a creative way to meet its rent obligation.