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This series examines the factors behind Europe’s rental crisis
...The group, which owns swaths of London’s Mayfair and Belgravia, wants to broaden its investment into different types of residential property across the country, including homes for sale as well as rental...
...Prices are likely to fall further in some countries such as Germany, Denmark and Sweden, which have larger rental markets, “but even in these economies we think that most of the fall in prices is already...
...Elevated mortgage rates have made it difficult for many people to buy a property, adding to rental demand....
...It has faced opposition from local residents over its plans to build its first rental homes in the capital....
...Meanwhile, residential property prices are getting cheaper. Indices point to a 5-7 per cent decline in house prices since the 2022 peak. Residential yields are now between 4 and 5 per cent....
...They asked the Treasury to create a carve out that would maintain the tax breaks for “large-scale residential property acquisitions”....
...“Rents were already incredibly unaffordable even before the recent bout of high rents,” said Neal Hudson, a housing market analyst at Residential Analysts, adding that this has been driven by “rising wages...
...or non residential — which incurred an energy performance gas-guzzling rating of F or G....
...But evidence from New York suggests that even with more stringent rules, any improvements in the availability of long-term residential rental properties will be slow....
...Rental growth in European residential and industrial sectors has remained pretty strong....
...Lucian Cook, head of UK residential research at estate agent Savills, conceded the short-term rental market had taken much needed housing stock out of the private rental sector....
...Lucian Cook, head of residential research at estate agent Savills, said the measures appeared tailored to “‘raise more revenue, as much as to address the housing crisis”....
...Gittins said there were now 20 to 30 per cent more rental properties available across the capital compared with the same point last year, with fewer applicants chasing each one....
...There were signs of cooling in the still hot rental market....
...While growth in rental costs in London is forecast to cool from the record 11.2 per cent registered in the year to March, analysts were split on the outlook for house prices....
...The short-term rental phenomenon has spread beyond classic tourist hotspots — upscale neighbourhoods Palermo, Recoleta and Retiro plus artsy San Telmo — to residential areas across Buenos Aires and other...
...But in the rental market, the Rics index tracking tenant demand fell to its lowest since January 2021....
...The city’s prime office rental market “hasn’t bottomed out”, says Fiona Ngan, head of occupier services at Colliers Hong Kong....
...Rent is going up a bit slower than before, but rents aren’t coming down any time soon,” said Neal Hudson, a housing market expert at Residential Analysts....
...But she says the rentals market is cooling a little as supply increases: properties stuck on the (sales) market are being put up for six- or 12-month rentals instead....
...Limits on rental income have compounded the long-term effect of a near two-thirds cut to government funding for new social and affordable housing under the 2010-15 Conservative-Liberal Democrat coalition...
...More than 3,500 people already live in the area, according to CWG, and there are more than 1,000 rental flats there....
...Svanstrom said Rightmove was continuing to diversify its business into new areas including rental and mortgage services, and commercial real estate....
...Tom Bill, head of UK residential research at estate agency Knight Frank, said mortgage providers would come under more pressure to reduce rates on their products after the latest inflation data, “which means...
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