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Top StoriesUK house prices rise at fastest pace since feb 2023, ONS says
Exclusive-JPMorgan weighs London HQ options as it outgrows canary wharf tower, sources say
Date: November 16, 2024
By Iain Withers LONDON (Reuters) -JPMorgan is assessing options for its European headquarters in London as the fast-expanding Wall Street bank outgrows its existing tower in London’s Canary Wharf financial district, three sources familiar with the matter told Reuters. The bank has begun examining options for where to base around 12,000 staff in London, with...
German commercial property prices drop but show some stabilisation
Date: November 11, 2024
FRANKFURT (Reuters) – German commercial property prices fell 4.7% in the third quarter from a year earlier but showed continued signs of stabilisation, the VDP banking association said on Monday, as the country’s real estate sector grapples with its worst crisis in decades. Commercial real estate valuations, in decline for two years, rose 0.7% from...
M&G buys stake in European property firm as it bets on turnaround
Date: November 4, 2024
By Iain Withers LONDON (Reuters) – British insurer and asset manager M&G has bought a majority stake in European real estate investor BauMont, as it prepares to buy up more commercial property in anticipation of a market recovery. M&G told Reuters it had acquired a 65% stake in BauMont Real Estate Capital, an 18-strong property...
Norway’s sovereign wealth fund buys 98% of US office building for $217 million
Date: October 29, 2024
STOCKHOLM (Reuters) – Norway’s sovereign wealth fund said on Tuesday it has bought a 97.7% stake in an office property in Menlo Park in the San Francisco bay area for $217 million, in a joint venture with U.S. real estate investment firm DivcoWest. Norges Bank Investment Management (NBIM), the world’s largest sovereign wealth fund,...
UK house prices rise 0.7% in September, nationwide says
Date: September 30, 2024
LONDON (Reuters) -British house prices rose by a higher-than-expected 0.7% in September from August, with the annual growth rate hitting 3.2%, the fastest pace since November 2022, figures from Nationwide Building Society showed on Monday. Economists polled by Reuters had forecast prices would rise by 0.2% on a monthly basis and stand 2.7% higher...
European shares rise on real estate boost
Date: September 10, 2024
By Pranav Kashyap (Reuters) – European shares climbed on Tuesday, boosted by the real-estate sector, while investors also awaited the widely expected rate cut by the European Central Bank later in the week. The pan-European STOXX 600 index rose 0.3% after gaining nearly 1% on Monday. Rate-sensitive real estate sector advanced 1% ahead of the...