Latest News

SAPOA Bursary Fund
May 22, 2015

SAPOA raises R40m for Bursary Fund through Services SETA contribution

in Sector Environment
SAPOA announced at the Annual SAPOA International Convention and Property Exhibition that it has raised R40-million for its Bursary Fund.
Broad Street Mall in Reading
May 21, 2015

Tradehold and Texton Property Fund partner to acquire Broad Street Mall in England

in Listed Property
Tradehold subsidiary Moorgarth Holdings (Luxembourg) S.à.r.l, has entered into a joint venture with Texton Property Fund to each acquire 50% of Broad Street Mall in Reading, England for approximately £30,564,000.
Neil Gopal SAPOA
May 21, 2015

Industry skills highlighted at the 2015 SAPOA Convention

in Sector Environment
In light of the increasing need for skills development and transformation in the property sector, SAPOA delved into industry skills at its Annual International Convention and Property Exhibition in Durban.
WaterfallCity PwC Aerial
May 21, 2015

Nedbank Corporate Property Finance injects R1.35bn into Waterfall developments

Nedbank Property Finance has again shown its confidence in and support of proven developers by granting a total loan of…
25ArgyllStreet
May 21, 2015

Stenprop completes flagship London acquisition and expands presence in the Berlin…

Stenprop completes flagship London acquisition and expands presence in the Berlin retail market.
Sam Leon Investec Property Fund
May 21, 2015

Investec Property Fund continues to deliver consistent growth in distribution and…

Investec Property Fund continues to deliver consistent growth in distribution and assets.
Graeme Katz
May 21, 2015

Investec Australia Property Fund well positioned to deliver double digit growth in…

IAPF well positioned to deliver double digit growth in FY16.
EquityHouse
May 20, 2015

Historical office building receives extensive interior renovation

Equity House, a beautiful, historical office building, which is situated at 107 St. George's Mall in Cape Town, has…

Popular

R400m KPMG Place office property development breaks ground in Roggebaai

May 06, 2015
KPMGPlace
R400 million office project breaks ground on the front row of the Roggebaai Office Precinct to be known as KPMG Place.

Shortage of skills remain key for South African property sector

Apr 28, 2015
Construction Industry
Skills remain key for South Africa's property sector.

Emoyeni Mall brings superior Retail to the people of Nelspruit

Apr 29, 2015
EmoyeniMall
Emoyeni Mall has brought retail to the masses in Emoyeni, Nelspruit.

Multi million rand Tugela Ferry Mall opened its doors to the local community in…

Apr 29, 2015
TugelaFerryMall
The multi-million rand Tugela Ferry Mall opened its doors to the local community in KwaZulu-Natal’s northern interior…

Cape Town and Bloemfontein house prices accelerate while Port Elizabeth falters

Apr 29, 2015
Erwin Rode
At the end of last year, house prices in Cape Town and Bloemfontein were accelerating, while the exact opposite was…

Excellerate Property Services achieves Level 2 B-BBEE rating

Apr 29, 2015
Marna van der Walt
Excellerate Property Services is leading South Africa’s large property service providers in Broad-Based Black Economic…
Wednesday, 23 January 2013 23:04

Spain praised for REIT overhaul

Published By  eProp@News
Rate this item
(0 votes)

Spain has been praised for its plans to overhaul the Real Estate Investment Trust (REIT) regime by the European Public Real Estate Association (EPRA)

REITs have been identified by EPRA as an effective way to recapitalise property after a crisis and, with Spanish real estate struggling to reverse falling values, it is hoped this will be just the tonic. Ireland, which has endured similar property woes, will also be overhauling its REIT system in 2013.

Philip Charls, chief executive of EPRA, stated: "The Spanish and Irish governments have realised that the best way to attract domestic and international capital into their real estate markets and so underpin banking systems that are laden with property debt, is to make the sector attractive to investors." REITs are capable of doing this and have demonstrated their efficacy in previous crises, including the US Savings & Loans dilemma in the early 1990s.

According to Mr Charls, REITS have also been effective in Europe, channelling investment into top quality energy efficient buildings for businesses, retail units and housing. France and the UK are just two examples of countries that have effective REIT structures in place. However, there are risks for countries using REITs and these must not be ignored. "They are effectively equities and can therefore be just as volatile," explained Darius McDermott, managing director at Chelsea Financial Services, a financial adviser, to the Financial Times.

Nevertheless, Spain is trying to make the system as secure and effective as possible, approving an amendment on December 20th 2012 to cut tax on profits to zero, so long as 80 per cent of earnings are given to investors. This brings Spain broadly in line with the rest of Europe and abolishes the flat tax regime, which was unattractive to investors.

Speaking to Property Investor Europe, Mayra Merchan, general manager of the Association of Spanish Rental Property Companies, claimed that the overhaul of REITs and potential influx of property investment could also help to create much needed jobs. With unemployment limiting the activity of domestic buyers in the property market, this will have positive ramifications across the board.

Source: EPRA

Last modified on Thursday, 24 January 2013 07:50
Login to post comments

AFRICAN & INTERNATIONAL PROPERTY NEWS

Broad Street Mall in Reading

Tradehold and Texton Property Fund partner to acquire Broad Street Mall in England

May 21, 2015 Listed Property eProp Commercial Property News
Tradehold subsidiary Moorgarth Holdings (Luxembourg) S.à.r.l, has entered into a joint venture with Texton Property Fund to each acquire 50% of Broad Street Mall in Reading, England for approximately £30,564,000.

ECONOMY & PROPERTY ECONOMICS

Broad Street Mall in Reading

Tradehold and Texton Property Fund partner to acquire Broad Street Mall in England

May 21, 2015 Listed Property eProp Commercial Property News
Tradehold subsidiary Moorgarth Holdings (Luxembourg) S.à.r.l, has entered into a joint venture with Texton Property Fund to each acquire 50% of Broad Street Mall in Reading, England for approximately £30,564,000.

CONSTRUCTION & INFRASTRUCTURE

Industrial Property in Mobeni East, Durban

Live Auction of Telkom Real Estate Portfolio disposal

May 08, 2015 Commercial Property Auctions eProp Commercial Property News
This Telkom property boasts an erf size of ±44 360m² of almost rectangular shape and reasonably level, developed land. Paved areas measures approximately ±24 000m².

GENERAL / OTHER

MenlynMaineCentralSquare

R1.8 billion mixed-use Central Square brings life to the heart of Menlyn Maine

May 12, 2015 Green Building & Environment eProp Commercial Property News
The multi-billion Rand 315,000sqm Menlyn Maine development revealed exciting details of the latest addition to Africa’s only green city – Central Square.

EVENTS, FORUMS & SOCIAL

Andrew Golding

The UK proves to be an attractive and stable destination for property investment

May 17, 2015 International News eProp Commercial Property News
The UK has long been regarded as an attractive and stable destination for property investment – both commercial and residential.

News Search

Most Popular

R400m KPMG Place office property development breaks ground in Roggebaai

May 06, 2015
KPMGPlace
R400 million office project breaks ground on the front row of the Roggebaai Office…

Shortage of skills remain key for South African property sector

Apr 28, 2015
Construction Industry
Skills remain key for South Africa's property sector.

Emoyeni Mall brings superior Retail to the people of Nelspruit

Apr 29, 2015
EmoyeniMall
Emoyeni Mall has brought retail to the masses in Emoyeni, Nelspruit.

Multi million rand Tugela Ferry Mall opened its doors to the local community in KwaZulu-Natal

Apr 29, 2015
TugelaFerryMall
The multi-million rand Tugela Ferry Mall opened its doors to the local community in…

Cape Town and Bloemfontein house prices accelerate while Port Elizabeth falters

Apr 29, 2015
Erwin Rode
At the end of last year, house prices in Cape Town and Bloemfontein were accelerating,…