Home prices in the U.K. grew by the fastest pace in almost five years due to an improved economic outlook and higher consumer confidence.
Batumi, Georgia-based developer Tam Geo is investing $80 million in Babillon Tower Batumi, the highest residential tower in the country of Georgia. Babillon Tower is a mixed-use development currently under the construction.
The U.K. construction industry has enjoyed three consecutive quarters of growth for the first time since the financial crisis. In a survey of approximately 1,000 U.K. companies, there were more respondents who reported growth in activity during the last quarter of 2013.
Luxury home sales in London increased 37 percent last year as the number of U.K.-based buyers grew, according to a new report. The number of homes worth £4 million to £5 million led the increases.
The Swiss government is increasing the amount of capital banks must hold against the mortgages they extend.
Residential property prices in the euro zone are recovering from the previous property crash but some areas still have more ground to cover. Home prices in the euro zone increased by 0.6 percent during the third quarter of 2013 .
The world's ultra wealthy now hold a fifth of their invested wealth in real estate, as private wealth increasingly shapes global real estate markets. The use of private equity in major property deals worth at least $10 million is almost threefold what it was in 2009.
Sellar Property Group plans to build a 27-story residential tower on the south bank of the River Thames in London.
The number of apartments available for sale in Sweden is at the lowest level in five years, according to Hemnet, the country's biggest property website. A total of 6,613 apartments were available during the second week of January.
The London residential property market ended 2013 on a good note, with more sellers and buyers, according a new report from London-based real estate firm Douglas & Gordon. The Barometer shows 50 percent more properties came on the market in December.
Private-equity giant Blackstone Group has offered to pay €43 million ($58 million) for a portfolio of homes for sale by Spain's "bad bank," sources told Bloomberg. U.S.-based Blackstone is bidding for the 620-home Dorion portfolio.
Approximately £1 billion worth of mortgages have been applied for under the U.K. government's Help-to-Buy program, according to Bloomberg. More than 6,000 mortgage applications were filed during the first three months of the program.
Investors from Spain, Andorra and Peru are planning to commit €500 million ($683 million) into bank-owned Spanish property developer Colonial, as they look to benefit from a recovering property market.
U.K. home values increased in December and are expected to continue growing in 2014, according to Hometrack Ltd. Home prices across England and Wales increased 0.5 percent from December, the researcher found.
The average prime country house price in England increased 1.4 percent in the fourth quarter, the largest quarterly increase in more than three years, according to Knight Frank. Prices increased 3.1 percent compared to last year.
Average prime Central London home values reached a record high of £1.70 million by year-end, after increasing by 12.60 percent in 2013, according to consulting firm Cluttons. The total increase in values this year is almost twice the 6.40 percent growth rate in 2012.
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