Major European Property News

The Mid Week Round up of Major European Property News Once again there was much activity in the European property market. Below is a mid-week round up of the most recent activity. UK house prices fell slightly in January, but quarterly trend is up. After the successive rises in November and December, the price of UK properties fell by 0.2% in January. Overall the quarterly basis price is up by 1.9% compared to the previous 3 months. This is 1.3% higher than the same quarter, last January. Since October 2010, this was the first annual rise. Generally the quarterly measure is regarded as a better indication of overall property trends. Dundee International and SEB acquire German real estate portfolio A purchase agreement has been signed with Dundee International REIT, by SEB Asset Management worth around €420 million. The purchase agreement is for a portfolio of eleven properties located in several parts of Germany. The transfer is expected to take place near the end of the first quarter of 2013. London property continues to be bought by foreign investors January saw a large increase in London properties acquired by foreign property investors, with investors come from Europe, as well as Hong Kong, Egypt and the Middle East. Reports from agents W.A.Ellis showed that this has helped to make central London real estate market more buoyant. It seems that the current market strength will continue to grow throughout the rest of the year. AG Real Estate purchases Levi’s flagship store on the Champs Elysées AG Real Estate recently acquired the 3,000 square metre store complex, located at 76 Avenue des Champs Elysées, Paris, France. The transaction was dealt with by the Jones Lang SaLalle Investment department and was purchased for a base price of €85 million. The management of the investment will now be taken on by the Vendome Capital Partners