Agricultural land prices in Ireland rose by 10%

The Agricultural land prices in Ireland have risen by 10 percent in the first four months of this year, a recent survey has found.

The survey was conducted by estate agents Ganly Walters and was based on the land sales in Connacht, Munster, Leinster and Ulster regions.

The average per acre price in the European country has propelled to €11,511 as compared to €10,586, the average per acre price over the 12 months of 2012.

So far this year 3,000 acres have been sold out of the total offered 13,500 acres, the survey reported. The most activity was witnessed in Leinster region, where 4,680 acres were brought to the market at an average price of €10,345 per acre.

The agents sold Milverton, Demesne, Skerries, North Co Dublin on 468 acres over two lots on behalf of the National Asset Management Agency (NAMA). Their initial demand was €7.5 million but the deal is believed to have been conducted somewhere close to €7 million.

The average per acre price in Connacht was €11,224. The highlight sale was Inish Turk Beg Island off the coast of County Mayo that was sold out by Ganly Walters for €2.85 million.

In Munster the average per acre price was €9,476, the survey evaluated after covering more than 1,000 acres sold. The average per acre price in Ulster was €15,000.

The managing director of Ganly Walters, Robert Ganly said that the demand for land remained strong and is expected to be stronger towards the end of this year.

For more information on the global property market, head to MIPIM 2014 at Cannes. Contact EAS for the best in high quality accommodation, marketing and event management. EAS is also a licensed travel agency and member ASTA. For further information, click here.

Coscolluelas to help WVCA deliver more luxury buildings in Philippines

The recently-appointed senior partners of WV Coscolluela and Associates (WVCA) – twin brothers Gil and Gary Cosolulluela – are anticipated to take the 55-year-veteran firm to the bigger heights with their exceptional architectural skills.

WVCA’s senior principal architect William Coscolluela, who is also the father of Gil and Gary, said that the appointment of his sons will help the firm to develop attractive, reliable and innovative buildings in Philippines in forthcoming years.

Since its foundation in 1957, WVCA has developed countless luxury buildings across the Philippines but Zuellig Building is hailed as one of its greatest masterworks. Located at the crossroads of Paseo de Roxas and Makati Avenue, Zuellig Building was selected as one of the top three buildings in the “Best Office and Business Development” category of MIPIM Asia Awards 2012.

Zuellig Building is the first high-rise building project in the country that was pre-certified by the US Green Building Council at the LEED Gold level. Down to its superb-location, world-class design and distinctive frontage, Zuellig Building is expected to be premier business location in Metro Manila in future.

SM Aura Premier (Bonifacio Civic Center) at the Bonifacio Global City in Taguig, which is at verge of completion, the Unilab Corporate Offices on Williams Street, Mandaluyong City and P8.5-billion SM Seaside City Cebu, which has just got underway are some other superlative constructions of the firm, which has also participated in overseas projects in Singapore, China, Saipan, Malaysia, and Guam as design consultant.

Gil and Gary have studied in the separate architectural institutes around the country from primary school and up. Gil was previously involved in several projects including Joya Lofts and Towers, RCBC Plaza, Crowne Plaza and PCI Tower in Makati City while Gary’s previous work include the designing of Discovery Shores Boracay in Aklan province, Landmark in TriNoma and several other projects.

For more information on the global property market, head to MIPIM 2014 at Cannes. Contact EAS for the best in high quality accommodation, marketing , event management and MIPIM Cannes Yacht Charters. EAS is also a licensed travel agency and member of ACAV and ASTA. For further information, click here.

Luxury property markets flourishes despite downturn

Despite the recent economic downturn, the overseas luxury property market is growing, according to two companies in the high-end sector.

According to the analysis carried out by Luxuryestate.com, one of the biggest online sources of the high-end properties that list 50,000 homes in 50 countries, the interest in luxury properties has increased by an average of 2% during the last year.

From the individuals of countries like Italy and Greece, where the economic situation is extremely instable, peaks of 10% more sales enquires for high-end residences have been recorded.

Engel & Volkers, the 35-year-veteran high-end real estate agent, in its latest-press release has said that they have experienced their best-ever quarter year profit.

The Luxury Estate has identified the trends in demand of luxury properties through analysis of buyer activity on over 25,000 listings, spread across more than 30 countries, with UK leading the chart of countries with the largest demand from individuals.

Greece, Russia and Italy, which all have a massive number of high-net-worth individuals as residents, have emerged as countries with largest increases in demand after witnessing increase of 8%, 6%, and 5% respectively.

The data about most high-end residences for sale is quite interesting as in the economically stable countries; the number of luxury villas, castles and mansions has remained constant on the market or even dwindled.

In contrast, the less economically stable countries like France and Spain, have witnessed a whopping increase in luxury properties on the market during the last 12 months.

For more information on the global property market, head to MIPIM 2014 at the Palais des Festivals, Cannes. Contact EAS for the best in high quality accommodation, marketing and event management.  EAS is also a licensed travel agency and member of ACAV and ASTA. For further information, click here.

US residential property market set for 2013 growth

Yet more good news for the US housing and construction industries as home building, prices and sales all trended upwards during 2012 according to a market report by the Royal Institution of Chartered Surveyors.

The institution has also predicted a rise of 5 percent in the value of homes in 2013 and believes that both new home and existing home sales will continue to trend upwards in 2013. Over the past year new home sales have risen 17 percent and home building is sitting at its highest level since the middle of 2008.

The report also highlights a 3 percent annual growth in home prices up to October 2012. This is significant as it is the first annual gain post recession. However, it is important to note that the recovery is highly fragmented with some cities seeing rising prices whilst others continue to see declines.

Phoenix, which was one of the cities hardest hit by the recession, has recorded 20 percent gains, while cities that saw less extreme price declines such as New York and Chicago are, as yet struggling to record any significant price growth.

“We are cautiously optimistic about the state of the housing market. Indeed, encouraging signs are emerging such as rising home values, construction activity and sales. Demand is being supported by sustained, albeit modest, job growth and record affordability, and reflects increasing consumer confidence and household spending,” the report says.

There are, however, still headwinds that the housing market in the US must overcome the report adds. Home values are still almost a third lower than their pre-recession peak. The number of households whose mortgage is greater in value than their home now stands at 10.8 million, while home sales, existing and new, remain 30 percent and 70 percent below their pre-recession peaks respectively.

Other downsides include weak credit growth and the fragile labour market, which are the largest obstacles to a sustainable recovery. “Although the housing market has ploughed along in spite of the weak macro environment, this can only be sustained for so long without support from stronger job growth and improved lending conditions,” the report adds.

To see the actual state of the US housing and construction markets as well as other global markets and the latest international construction projects head down to MIPIM 2014 . For the city’s best hotels, rented apartments and villas look no further than EAS, the local travel agent you can rely on. We have rooms in the most centrally located hotels, beach apartments with sea views, penthouses and even luxury loft apartments. We also offer yacht charters for those after something a little bit different and can organise all your transportation, dining and entertainment needs. Click on this link to fill in our request form.

Global property investment to exceed $1 trillion

Investment in the global property market saw a modest 6 percent increase during 2012 reaching close to $1 trillion and signaling what experts believe could be a return to confidence in the international property sector.

According to the latest International Investment Atlas by global agency Cushman & Wakefield, 2013 could see global investment volumes rise by 14 percent taking them to their highest levels since 2007, when $1.25 trillion was exchanged in property deals. The increase will be driven by the North American and Asian markets with America and China proving to be the two key areas of strong growth.

However this growth isn’t just limited to these two global powerhouses as a number of other regions saw fourth quarter rallies in 2012 including Poland, Norway, Switzerland, Thailand, India, Australia and most notably Spain.

Last year in the Americas the USA and Mexico were the biggest gainers, while Malaysia, Vietnam, Australia and New Zealand enjoyed the strongest growth rates in Asia and Oceania. In Europe, Finland, Norway, Ireland and Switzerland witnessed the highest growth. Modest increases in big markets like China, Germany and Hong Kong were also instrumental in delivering growth at a global level.

So what can we expect next year? Well, North America should be a favoured market in 2013 despite ongoing fiscal and political difficulties. An improving economy and debt market coupled with low vacancy and high liquidity bodes well for investment demand and as a result Cushman & Wakefield are forecasting a 15-20 percent increase in investment activity.

The Asia Pacific region will also see improved economic conditions, which should lead to sustainable investment growth of around 15-20 percent. Investment demand is likely to increase in China as urbanisation continues, but also in Australia and Japan, while India and Indonesia will also see a rise in demand.

John Stinson, Head of Capital Markets in Asia Pacific for Cushman & Wakefield believes there are opportunities across all sectors. He said: “In office we expect global banks to follow regional banks in expansion plans fuelling office demand and generating steady rent growth in the major gateway markets of Tokyo, Shanghai, Hong Kong, Singapore and Sydney.”

“Retail will be boosted by strong retail turnover growth off the back of buoyant GDP forecasts this year with Kuala Lumpur, Bangkok, Beijing and Jakarta likely to benefit the most. Overall the hottest sector this year will be logistics with major hubs of Osaka, Tokyo, Shanghai, Hong Kong and Singapore with strong demand and investment activity anticipated,” Stinson added.

Even Europe should see modest rises of five percent investment growth. The report says that in the short term European investment activity is likely to remain subdued thanks to a lack of quality product and affordable financing. However, there are signs that more stock released by the banks, the public sector and corporate owners should at least produce some form of increase in activity in 2013. Germany is likely to remain a top pick for investors in addition to the Nordics, London and Paris.

For more information on the global property investment market head to MIPIM 2014 at the Palais de Festivals, Cannes, 11-14 March. For the city’s best hotels, rented apartments and villas look no further than EAS, the local travel agent you can rely on. We have rooms in the most centrally located hotels, beach apartments with sea views, penthouses and even luxury loft apartments. We also offer yacht charters for those after something a little bit different and can organise all your transportation, dining and entertainment needs. Click on this link to fill in our request form.