Latest news with #propertydevelopers
Telegraph
2 days ago
- Business
- Telegraph
Historic chapel where ‘Bread of Heaven' hymn written under threat from property developers
A Welsh village is battling to buy an historic chapel where the classic hymn Bread of Heaven was written. The Grade II-listed Capel Rhondda is on the market for £47,500, including the graveyard. The chapel in Hopkinstown, South Wales, was built in 1885 for worshippers in the mining valleys. But now the village wants to buy it to turn it into a community hub – and stop it being bought by property developers. Composer John Hughes wrote the well-known hymn Cwm Rhondda for an anniversary service at the chapel in 1907. Better known as 'Bread of Heaven', it is often sung at Welsh rugby matches, pubs and funeral services. Fund-raiser Rhian Hopkins said: 'It would be a real shame if the incredible building which was funded and built by our ancestors was lost to a property developer who may not respect the building's history'. She added: 'It was built by the community, for the community so I would like to see it remaining as part of the community. 'My worry is that although it's a Grade II-listed building, and will obviously be protected in some way, it's on the market for what is a relatively low price for a property these days. I'm concerned that it could be bought by a wealthy property developer from outside the area and has no connection to the building. 'It's at that sort of price where someone might just buy it speculatively and leave it to sit empty. There are repairs that are needed already, so things would only get worse.' She decided to set up a crowd funder in an attempt to raise the asking price for the chapel and to ensure it would remain in the community's hands. Architectural interest The chapel was Grade II-listed in 2001 for its 'architectural interest as a late 19th century chapel in a prominent location retaining its original character'. A spokesman for The Baptist Union of Wales said: 'The union is sad to have had to close the chapel and we are thankful for all that has been done there over the years. 'Until recently, it was a very active church. But unfortunately, attendance numbers have declined and the buildings have started to deteriorate. It's a decision not taken lightly. The vestry in particular is in a very poor state of repair and can't be used. 'At the end of last year we looked at different options for uses for the building but could not find anything suitable – there was no other available option than to put it on the market. It's such a shame, but the building needs some investment and we hope we will find an appropriate buyer and a new lease of life to this historic building that has served the community so well.'
Yahoo
12-07-2025
- Business
- Yahoo
London new-build home sales suffer ‘catastrophic' plunge
Sales of new-build homes in London have slumped to their lowest level since the global financial crisis. Just 3,946 new private and build-to-rent properties were sold in the capital between January and June this year – a fall of nearly 30pc compared to the same period last year, according to research from Molior. The slump has been more pronounced over the past three months, with only 1,691 homes sold in April, May and June. That is the lowest level since the global financial crisis, when 1,549 new build properties changed hands in the third quarter of 2009. Just over 3,300 were sold in the first half of that year. The decline has been blamed on the insufficient financial incentives for property developers to build new homes and for buyers to purchase them, leading to fewer developments and sales. Tim Craine, founder at Molior, said the fall was 'catastrophic' and blamed London's City Hall for deterring more new homes from being built. 'The market is now as bad as it was in early 2009, perhaps the early 1990s. But at least back then, the market was allowed to function,' he said. Crucially, Mr Craine said the Greater London Authority, the body that governs London, was negotiating 'too hard' in demanding higher taxes from housing developers to fund affordable housing – putting developers off building more homes. He said that 'if developers can't sell homes, they won't build them'. He added: 'Remember, the Soviets used to set the price of bread. Guess what? No one made any bread. This is the same kind of thing.' The plunge in sales has major implications for the Mayor of London's target of building 88,000 homes per year – with the latest total representing only 9pc of 44,000 homes at the half-year mark, Mr Craine said. Efforts made by the Government to resolve supply-side delays through reforms to the planning system and at the Building Safety Regulator will still leave 'a significant demand-side problem', he said. Charlie Hart, from property consultancy Knight Frank, warned that over-regulation was 'stifling delivery' from property developers. He said: 'Without urgent address by both central Government and London City Hall, the capital's development, construction and other associated sectors – a cornerstone of its economy – are at high risk of failure. 'Immediate action is needed to relieve the pressure, and both buy-side and supply-side reform will help unlock delivery as well as demand.' Mr Craine added that the situation was made worse by a lack of discounts to incentivise domestic buyers who purchase off-plan, several of whom have already been 'pushed out' of the market by the Chancellor's stamp duty increases, and persistently high building costs. He said an increase in sales, driven by more demand-side initiatives, will give developers 'the confidence to start building again at pace'. The news comes after house prices across the UK stalled in June, according to Halifax, amid a slowdown in the jobs market and concerns about the economy. In 2009, the UK's property market was hit by a global slump in house prices, triggered by the US subprime mortgage crisis. Britain also endured a housing crash in the early 1990s, driven by rising unemployment and high interest rates. The Mayor of London's office was contacted for comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Telegraph
11-07-2025
- Business
- Telegraph
London new-build home sales suffer ‘catastrophic' plunge
The decline has been blamed on the insufficient financial incentives for property developers to build new homes and for buyers to purchase them, leading to fewer developments and sales. Tim Craine, founder at Molior, said the fall was 'catastrophic' and blamed London's City Hall for deterring more new homes from being built. 'The market is now as bad as it was in early 2009, perhaps the early 1990s. But at least back then, the market was allowed to function,' he said. Crucially, Mr Craine said the Greater London Authority, the body that governs London, was negotiating 'too hard' in demanding higher taxes from housing developers to fund affordable housing – putting developers off building more homes. He said that 'if developers can't sell homes, they won't build them'. He added: 'Remember, the Soviets used to set the price of bread. Guess what? No one made any bread. This is the same kind of thing.' 'High risk of failure' The plunge in sales has major implications for the Mayor of London's target of building 88,000 homes per year – with the latest total representing only 9pc of 44,000 homes at the half-year mark, Mr Craine said. Efforts made by the Government to resolve supply-side delays through reforms to the planning system and at the Building Safety Regulator will still leave 'a significant demand-side problem', he said. Charlie Hart, from property consultancy Knight Frank, warned that over-regulation was 'stifling delivery' from property developers. He said: 'Without urgent address by both central Government and London City Hall, the capital's development, construction and other associated sectors – a cornerstone of its economy – are at high risk of failure. 'Immediate action is needed to relieve the pressure, and both buy-side and supply-side reform will help unlock delivery as well as demand.' Mr Craine added that the situation was made worse by a lack of discounts to incentivise domestic buyers who purchase off-plan, several of whom have already been 'pushed out' of the market by the Chancellor's stamp duty increases, and persistently high building costs. He said an increase in sales, driven by more demand-side initiatives, will give developers 'the confidence to start building again at pace'. The news comes after house prices across the UK stalled in June, according to Halifax, amid a slowdown in the jobs market and concerns about the economy. In 2009, the UK's property market was hit by a global slump in house prices, triggered by the US subprime mortgage crisis. Britain also endured a housing crash in the early 1990s, driven by rising unemployment and high interest rates.
CTV News
11-07-2025
- Business
- CTV News
Vancouver looks to subdivide laneway homes
Vancouver Watch The City of Vancouver is exploring the idea of allowing single-family lots to be subdivided so people can buy and sell laneway homes.
Zawya
30-06-2025
- Business
- Zawya
Abu Dhabi takes pole position in real estate as IREIS 2025 gets ready for 2,000 plus investors
The 14th International Real Estate & Investment Show (IREIS) returns to ADNEC, 12–14 September, as property developers shift focus to the regional economic powerhouse Abu Dhabi for their new developments Abu Dhabi, UAE: Abu Dhabi stands at the forefront of global real estate opportunity, which is going to be reflected in the 14th edition of the International Real Estate & Investment Show (IREIS 2025) taking place at the Abu Dhabi National Exhibition Centre from 12 to 14 September, as investment in Abu Dhabi's real estate sector continues to grow to widen the UAE capital city's expanding skyline. With its stable economy, world-class infrastructure, and affluent communities, the emirate continues to attract discerning investors from around the world. The city's vision for sustainable, high-end living makes it an ideal destination for those seeking both capital growth and lifestyle excellence. Total real estate transaction value in Abu Dhabi grew by 34.5 per cent to Dh25.3 billion across 6,896 deals in the first quarter of 2025 in the emirate, compared to Dh18.82 billion from 5,773 transactions in the same period of 2024, according to Abu Dhabi Real Estate Centre (ADREC), an affiliate of the Department of Municipalities and Transport – Abu Dhabi. Buy and sell transactions totalled Dh15.51 billion through 3,819 transactions, reflecting a 26.7 per cent increase in value and an 11 per cent rise in volume compared to the first quarter of 2024. Mortgage transactions also recorded strong growth, reaching Dh9.8 billion through 3,077 transactions — a 49 per cent year-on-year increase. This comes on top of the 28,249 transactions with a value of Dh96.2 billion, representing a 24.2 percent increase in the number of transactions and a 10.45 percent increase in total value in 2024 compared to the previous year, according to ADREC. Abu Dhabi saw a rise in transaction volumes in 2024, with approximately 14,662 units sold up four percent year-on-year and total sales reaching Dh47.9 billion. 'Abu Dhabi Vision 2030 is a comprehensive long-term plan that aims to transform the emirate into a diversified, sustainable, and globally integrated economy. At the heart of this vision is real estate development, which plays a pivotal role in shaping the future of urban living, economic growth, and social infrastructure,' Mr. Arun Bose, Director of IREIS, says. 'The strategy focuses on creating vibrant, livable communities supported by smart infrastructure, green spaces, and world-class amenities. With investments pouring into mixed-use developments, waterfront districts, cultural hubs, and high-tech business zones, Abu Dhabi is positioning itself as a real estate powerhouse in the region. 'Abu Dhabi Vision 2030 is more than a roadmap — it's an open invitation to forward-thinking investors to be part of a transformative era. The time to move is now.' As the UAE's premier real estate platform since 2005, IREIS 2025 is set to welcome more than 2,000 visitors, bringing together global developers, investors, agents, and immigration consultants under one roof. With over 3,500 square metres of exhibition space, IREIS 2025 has already confirmed participation from 30+ exhibitors and will feature country pavilions from Turkey, Egypt, and others. The show is growing into a truly global stage. Arun Bose emphasises, saying, 'The resounding success of the real estate exhibition is a testament to Abu Dhabi's dynamic market and global appeal. As one of the world's wealthiest and most forward-looking cities, Abu Dhabi offers unmatched opportunities for investors. We are proud to have provided a platform that fosters growth, innovation, and meaningful partnerships—and we look forward to welcoming even more visionary investors to future editions of the expo. 'Every year, we are proud to see IREIS evolving into a truly global investment platform. In 2025, we're not only building on past success but significantly raising the bar by introducing new pavilions, digital showcases, and stronger participation from migration consultants who support second-home and citizenship-by-investment programmes.' IREIS 2025 introduces a dynamic new line-up for its attendees, including a corner for Citizenship by Immigration consultants who promotes global residency and second-home opportunities. Country pavilions such as Turkey and Egypt will highlight national real estate incentives, showcase premium projects, and facilitate bilateral investment discussions. New conference tracks will focus on sustainable urbanism, fractional ownership, golden visa reforms, and digital cross-border investing. This year, digital showcase zones will enable attendees to explore immersive virtual property tours and tech-enabled solutions that represent the future of real estate marketing. The UAE property sector experienced robust growth in 2024, with over 331,300 real estate transactions across the four main emirates (Abu Dhabi, Dubai, Sharjah, and Ajman), totalling approximately Dh893 billion in value. Underpinned by strong economic fundamentals, the UAE's GDP reached an estimated US$568.6 billion in 2025, with projected real GDP growth hovering around four percent, signalling long-term confidence in the real estate sector. In 2024, a notable shift toward off-plan investments emerged, accounting for approximately 61 percent of total transaction value, reflecting an increased appetite for new developments and investor confidence. Abu Dhabi's luxury and branded residences segment is experiencing record-breaking growth in 2025, with branded residence launches increasing fourfold compared to the previous year, according to a latest report. Driven by rising demand from high-net-worth individuals (HNWIs), international investors and long-term residents, the market has seen a 5 percent increase in luxury transactions valued at Dh7 million and above, reaching Dh6.3 billion in just the first four months of the year. Over half of these deals were in the Dh10 million and above segment, reflecting growing confidence in Abu Dhabi's premium real estate segment. Investors, brokers and home buyers will find a wide collection of homes on display at IREIS to choose from. IREIS 2025 promises visitors exclusive insights from government representatives, industry analysts, and private sector leaders regarding transaction reforms, pro-investment initiatives, and property-related regulatory updates. Attendees will also enjoy unmatched networking opportunities with high-net-worth families, institutional investors, legal advisors, global developers, and urban planners. Dedicated advisory booths will offer on-the-spot consultation on property licensing, financing, investment laws, and golden visa options. What continues to set the UAE apart is its zero-tax regime, investor-friendly governance, and reputation as a global migration hub. Foreign ownership remains strong across all emirates, and approximately 6,700 millionaires are projected to relocate to the UAE by the end of 2025, further elevating its status as a wealth magnet and safe investment destination. IREIS 2025 emerges as an unmissable convergence of opportunity and insight. With over 2,000 attendees expected, the event will act as a catalyst for real estate growth whether through second homes, lifestyle upgrades, or cross-border expansion. From Abu Dhabi's urban stability and Sharjah's green-living innovations to UAE-wide high yields and economic confidence, IREIS 2025 offers a panoramic view of the nation's most promising and future-ready real estate markets. About The International Real Estate & Investment Show (IREIS 2025) The International Real Estate & Investment Show (IREIS) is Abu Dhabi's premier annual platform for property and investment professionals, hosted by Dome Exhibitions. Since its inception in 2005, IREIS has connected thousands of developers, investors, brokers, and consultants from across the globe. The event is uniquely positioned as a transactional hub, enabling real-time sales, investment discussions, and international partnerships. Now in its 14th edition, IREIS 2025 will be held from 12–14 September at ADNEC, Abu Dhabi. The show features cutting-edge property showcases, country pavilions, investment advisory zones, and thought-leadership conferences covering golden visa opportunities, sustainable development, cross-border investments, and more. With over 2,000 expected attendees and participation, IREIS continues to shape the future of real estate across the UAE and beyond. IREIS has earned a reputation as a trusted bridge between global markets and regional opportunities, drawing key stakeholders from the GCC, MENA, Europe, and Asia. Whether for residential buyers, institutional investors, or immigration consultants, the event offers a dynamic, deal-driven environment that empowers both established and emerging players in the real estate sector. For more information, visit: Press Contact: Muhammad Yusuf PR Executive Pan Asian Group PO Box : 39865, Dubai, U.A.E Email :
