News at Meridiana

SIMA 2009

SIMA09 reaches record sales

Above all, SIMA09 will be recalled due to the significant growth in sales operations registered during this edition. Metrovacesa -81 transactions completed, Hercesa -72 operations, Vallehermoso -60 units sold, Reyal Urbis -40 sales, and Promohogar -23 units, lead SIMA09 ranking of sales (among the firms surveyed by the organization). Moreover, most of the participants agreed each other and have described this SIMA edition as the most profitable of those held to date.

 

More than 63,000 people visited SIMA09

A total of 63,487 people -6131 professionals-, attended the eleventh edition of the International Madrid Real Estate Exhibition [SIMA09], closed on May 30th. Exhibitors have highlighted the quality and the quantity of visitors who participated in the fair, their knowledge about the kind of product they were looking for, and their undisputable interest in buying a property.

 

A dose of optimism

After the end of SIMA09, a general sense of satisfaction was the prevailing opinion expressed by exhibitors since their prior business expectations turned into better results than they had expected to. “I hope this edition becomes a turning point and helps to mark shift in market trends. Over recent years, SIMA has been a barometer of the sector, so I hope the dynamism we have witnessed during the four days of the event would finally translate into an upturn in sales in the coming months", said Eloy Bohua, director of SIMA.

 

Foreign participants: mission accomplished

Once again, SIMA international participants have met their goals. “Our assessment of SIMA09 is very positive; we have managed to close many appointments, and we truly appreciate the opportunity of being able to make contacts with politicians and Government representatives ", said Andres Arraiza, developer at BrasilIfe. Nelson Blanco, from Alejandro Perazzo Real Estate, from Punta del Este, considered that "visits have been positive, there is no doubt that this event helped us to strengthen our brand image". For Agustin Diaz, from García Santos Marketing Inmobiliario, also from Punta del Este, “we have made significant and good professional contacts with groups of investors and consultants. Participating in SIMA is a must”. Maite Atela, from Danube Homes, said "SIMA09 experience has been positive. So far, we have found we made many quality contacts during this edition”. For Joshue Cabral, from Realty Bavalote, "this trade fair has worked out much better than we expected". Christopher Hall, Vice President Global FIABCI, summarizes SIMA09 experience, convincingly: "the queues to buy property where staggering – you had to see to believe!”.

 

Source: 10.06.2009

Written on 10/06/2009 -- Category: Ferias

City of London real estate starts to offer fair value after severe slump

The slump in the value of City of London offices has been so severe that it is now the only real estate hub that offers a good deal for international investors.

No other office market has seen as swift an adjustment in price that would make sense for investors, according to the annual Money into Property report from consultancy DTZ, which covers 38 countries across Europe, Asia-Pacific and the Americas.

The report says the outlook for global property investment remains bleak, with no respite imminent from falling values.

For the UK, the period between 2008 and 2010 is forecast to see the worst cumulative returns for property since records began in 1921.

Globally, returns from office investments are forecast to drop by a fifth in 2009, with property prices stabilising only during 2010.

While values are stabilising in some centres, the softening economy will force rents down across all markets, according to DTZ.

In the UK, prime rents in the City and West End of London have fallen 31 per cent and 23 per cent since the peak in 2007. DTZ expects further falls of 14 per cent in the City and 20 per cent in the West End over the next two years.

But even if rents fall further, the prime City of London office market offers attractive returns.

DTZ's analysis examined various markets and predicts that London's West End, Madrid, Paris and Sydney will reach fair value at some point this year.

Most other markets will only be attractive investments in the second half of 2010. Frankfurt, New York, Shanghai and Tokyo will not get there until 2010.

For the first time since the series began in 1975, the value of invested stock declined, falling 10 per cent to £586bn ($936bn) in 2008.

Tony McGough, global head of forecasting at DTZ, said: "While deals are clearly continuing to happen across all markets, they currently tend to represent very selective opportunities, often driven by distressed seller situations or on the back of very high-quality tenants and long-term leases."

He said DTZ analysis indicated that markets "typically reach fair value, and are then able to represent a broader base of opportunities, before they reach the bottom", adding that the "hunting season" was not yet under way.

 

Source: http://www.ft.com, 08.06.2009

Written on 10/06/2009 -- Category: Inversiones