Crisis can be overcome with the energetic rehabilitation of the houses

Legambiente: "Is it possible to activate 3 billion euro of investments and 120,000 jobs per year"

Rome - The crisis can be overcome by the eco-renovation of houses and buildings thanks to which, according to Legambiente "can be activated 3 billion euro of investments and 120.000 jobs per year". For this reason, the Italian environmental organization has proposed - during a conference organized together with AzzeroCo2 - "a new system of incentives for energy improvement that allows to halve fuel consumption in the condo buildings".

"In light of the current situation emerges," according to Legambiente, "the need for new policies that may trigger a widespread  upgrading of the energy efficiency in buildings". With an eye especially for apartment buildings, where live about 24 million people in Italy and where very often the energy consumption are higher than the already high national average, especially if built after the 50's. According to estimates by Istat and Cresme, exists more than one million buildings with more than five rooms in which there is a condominium management. And, unfortunately for those who live there, hopes to reduce spending on energy bills are very few, given that the existing mechanisms are ineffective and often impossible to implement".

The aim of Legambiente is an average reduction of 50% of the housing consumption, certified by skipping energy class; based on a simulation carried out on condos in Milan, Rome and Bari average return through incentives varies between 31 and 36%, there would be a benefit in the bill and in the comfort both winter and summer, in addition, depending on the intervention, there could be a reduction in heating bills by about 50% within a maximum of 11 years for an amount that varies between 800 and 1300 euro per year.

According to Legambiente is necessary to introduce a new system of incentives that may apply in particular to condominiums, which offers a real possibility of reducing energy expenditure for families and at the same time attack the bulk of the energy coming from the building. "The model to look at is that of the Green Deal introduced in the UK, which allows the creation of interventions at no cost to families to pay for themselves with the savings made in fuel consumption," says Vice-President Edward Zanchini. "To realize these projects in Italy, in our proposal, they would Esco (Energy Service Company, ed) and construction companies, which could see from this scenario, a way out of the crisis in the sector."

"The interventation spaces to make our buildings more energy efficient are very broad, as shown by all the studies known," added Beppe Gamba, President of AzzeroCO2. "The economic obstacles that today's families have to carry out operations of this type can be overcome, and also creating good jobs, with the widespread intervention of the Esco that invest in their own and recover the investments with the savings made in the bill. But why is this virtuous cycle can spread requires new tools and a guarantee fund for loans to businesses. We are confident that the new Parliament will be able to tackle these issues in a constructive way".

< Source: CercaCasa.it >

The eclipse of real estate

Is the end near ?

In the first quarter of 2012, direct investments in real estate in the world fell by 21% compared to the same period last year. The data have been published by the Consulting Agency Jones Lang Lasalle; the flow of global capital allocated to the sector decreased despite only in the USA there has been a 

+25% and +52% in Canada in the year. Poor performances for Europe, Asia and Middle East.

According to Juan Manuel Ortega, director of capital markets for Jones Lang Lasalle Spain, "this year will be dominated by the reactions of governments to the continuing economic uncertainty, subject to international investors continue forward. We also anticipate that the continued deleveraging banking attract more capital funds seeking opportunities in debt and assets used in the U.S. and Europe."

At the level of large investments the offices market is the one that pulls the rest, with a 54% of the total. Also the industrial sector showed improvement, while the residential is the worse.

< News source: ElConfidencial >

< Image source: http://randomtechie27.deviantart.com/art/Eclipse-303550050 >

The Italian real estate market crisis, merciless numbers

Translation of an interesting article from the Italian web based newspaper Nove da Firenze .

The figures released by FIAIP are really discouraging: in Italy in the period 2007-2012 real estate sales were down by as much as 40%. In the past year house prices also showed a decrease of 12% (25% if we compare the average prices of the previous year with those of 2008.).

And common clichés that keep the industry afloat we have thought in the past few years the only luxury properties, and this both in Italy and internationally.

According to the findings in the recent MEETIN - a real estate meeting in Naples, for example, this assumption seems confirmed in the Southern Italy.

Over the last five years, sales and construction of new buildings have declined by 40%, sales of larger apartments and luxury properties in the most prestigious neighborhoods of Naples (Posillipo, Vomero, Chiaia) has instead maintained.

The same goes for real estate on the Sorrento coast, who have not registered even the declines in sales prices.

Of the first opinions in contrast seem to come from the Northern Italy, and in particular from Milan.

According writes Joan Valsecchi on Immobiliare.it News, it seems that even the high end of the market - which had not previously been the least affected by the crisis - is starting to feel a bit 'hit: properties of prestige of Milan in fact, would arrive at the cost 20-25% less than it was five years ago.

And if we can not speak of a real crisis, however, would seem obvious signs of some slowdown in the luxury market.

It seems that at this time the only ones who can afford the expense of a certain kind - we speak of digits that can even exceed € 19,000 per square meter - are entrepreneurs belonging to sectors that are resisting more to the crisis, such as fashion or telephone for example, or the super-rich from Russia or the Arab states.

To confirm the trend, in some way, there are also data published on 6 March by Osservatorio Residenze Esclusive (Observatory of Exclusive Residences), sponsored by Tirelli & Partners, and for the second half of 2012 in the cities of Milan and Rome.

According to these data luxury properties are struggling to find buyers, and so stretch of the days of sale.

According Casa24Plus for example, in Milan, for homes with a value of more than € 7,000 per square meter, the average selling now would exceed 16 months (in 2010 were less than one year).

We wanted to explore the question also heard the opinion of Dimitri Corti, CEO of Lionard Exclusive Real Estate, a Pistoia (Tuscany) estate agency specializing in selling luxury real estate in Italy.

According to D. Corti there is not actually a real braking because the Italian sellers are basically willing to consider offers also much lower, while still allowing you to get to the final sale.

Confirms instead the fact that buyers come almost exclusively from countries such as Russia, Ukraine, Lithuania, Kazakhstan.

We are then told that Tuscany is by far one of the most sought after, not only in Italy but also in the whole Europe.

Greece for sales: Athens sells 28 public buildings.

Among the buildings, offices of ministries, public bodies and the police headquarters.

After months of unnecessary delay, which among other things are often caused irritation of the representatives of the international creditors of Greece, the National Agency for the Promotion of Property of the State (Taiped, privatization agency), has announced yesterday the international tender for the sale and leaseback by the state, 28 state-owned buildings that are now offices of government departments, public bodies and even the police headquarters in Athens.

Properties for sale will be divided into two groups of 14 properties each, while the total rents that derive, according to the Taiped, will amount to approximately 30 million euro per year. The time for submission of tenders from interested parties expires next April 19.

With regard to the period of leaseback,the State may recover any property at the market price after about 20-25 years. According to officials of Taiped, the problem for the sale of real estate is not a lack of buyers willing to invest, but the fall in prices, as the sale comes at a time of severe economic crisis that has already caused a serious decline in the value of the property .

As financial advisors have been appointed to the Taiped Alphabank, the Eurobank Equities Investment, the National Bank and the Bank of Piraeus.

Thud of the real estate market in Paris, shaking the prices of the safe of Europe



Is the future of Paris grey ?

Storm signals were on the horizon but the final amount were worse than expected. "Home sales in Paris, one of the world safest real estate markets, have fallen by 21% in one year" makes known the Chamber of Notaries of the Ile-de-france.

Throughout the region the decrease compared to 2011 was 13%. Is therefore just the capital to suffer the most, so that prices historically high and untouchable, begin to give little signs of abating. In one year the costs are decreased by 1%, but with a tendency to get worse. The square meter value is still really expensive with and average of  8270 euro even for normal houses, not luxury villas or castles.

According to data provided by notaries have been sold in the capital only 27,690 units. In the entire region instead the amount was 150,000. Of course, the proportion between the city and the common metropolitan area of Paris explain the difference, but the question remains: is this the end of the age of investor confidence or just an isolated incident?

In the Ile-de-france region lists value decrease was 1, 4% and the average price is now certified on 5510 euro per square meter. More convenient values 3,130 euro per sq m, are located in the so-called Grand Couronne .

Economy. Journey to the roots of the crisis, European banks have been up to?

a black cloud over the world

The chronicle and political force us daily to deal with words and concepts related to economic matters. Terms and expressions borrowed from the colorful jargon of finance or economic doctrine, have become commonly used on the basis of the violent changes in place for some years, but their meaning is often shrouded in the mists for those not into the matter.

TOXIC AND MALE INCOME SECURITIES

Never like today is very timely, as a result of recent developments in the case of European banks, hear about "derivative" investments classified as financial products created in 1920 and in the years to come, purchased by banks around the world. It should, however, do so clearly on the subject to understand what a derivative and by whom it has been used over the years by dragging the entire global financial system to the economic meltdown. The term "derivative" or "derivate" refers to a financial product identified as speculative title contains within itself a large number of subtitles at great risk. This appears to be the result of a finance called "creative" that produced disastrous effects on markets and financial centers defined strategic, among them New York and London. The already dangerous product itself has become devastating when it has approached banks behaviors unclear and even little lawful. And 'the beginning of the new millennium that some of codeste banks gave start to what today we can clearly define "economic decline". It all started with the U.S. such as Fannie Mae and Freddie Mac, banks defined sisters, and the famous Lehman Brothers founded by two German brothers. Once again the "families" in American society are confirmed carriers of dangerous mishaps despite the same America you define in the eyes of the world, a big family.

So while Lehman Brothers was ordered by the General Court of the United States for misconduct in 2000, Fannie Mae and Freddie Mac specializzavano in the supply of subprime mortgages, outstanding loans granted without receiving any guarantees in this regard. Only in the period from 2002 to 2006 's provision of these loans has increased from $ 38 billion to 90. U.S. banks to protect savers become true generating and sellers of "bad economy."

LEHMAN BROTHERS. OR THE TAIL OF THE DEVIL AND THE BIG STORY

Lehman Brothers is the name most frequently used in a negative way in economic history that goes from 2000 to 2008, a period in which the investment bank leading the United States will be declared bankrupt, September 16, 2008 due to insolvency, causing the biggest economic disaster of the financial crisis that has been recorded by the U.S. in 1929. This is despite Alan Greenspan, one of the best governors of the Central Bank of the United States, had cut interest rates the Fed at a record low of the last 45 years bringing the percentage of the one.

Events have also contributed to the fall of the world economy. The tragedy of the Twin Towers, September 11, 2001, and all outbreaks of wars that have resulted from it, have helped to drag the economy into the "financial storm". The term today is frequently used and is linked to the name of a Russian-born economist Nouriel Roubini, then unknown, but only predict two years in advance of the severe economic turmoil in September 2008. It 'just the story, with its disasters, to offer an additional side to creative financing and its toxic assets, effects of the derivative. With the destruction of the Twin Towers disappeared forever some of the best financial minds, settled just inside the two structures, which operated for commercial banks and monetary-financial companies with global interests.

Lehman Brothers and investment banks clones taking advantage of the special and delicate historical moment have flooded the market with additional financial toxic assets. E 'enough to consult the Federal Reserve data to verify the progressive and destructive course: the only period 2003 - 2007 subprime mortgages flowed from 332 billion to 1.3 trillion dollars.

GET THE CONTAGION

In the course of just six years, Lehman Brothers rises exponentially in the sale of toxic assets in the enterprise involving unscrupulous banks of the affairs of other countries. The follow Japan's Nomura, today all over the papers for the scandal MPS, and many other sisters triggering that effect "domino" that currently can be seen on all financial markets from Europe and overseas and levied in those dominated by market economy .

Lehnman Brothers & C generated children and stepchildren who currently do not enjoy good health at all, in fact, need rigorous treatment to prevent their evil becomes even more serious in fact causing a further deterioration of the state of the world economy.

The action of this perverse financial world has brought with him, like a tsunami, other illustrious victims, in the insurance and real estate. AIG, a leading American insurance company, declared bankrupt in 2008, is one of these victims. Martyr also its own insurance of subprime mortgages. Following the collapse of Lehman Brothers the current Governor of the Federal Reserve Ben Bernanke, Greenspan's successor, it was the protagonist of the first operation to rescue the U.S. economy measure in evaluating the $ 750 billion, a figure of fact, far lower than that of loans issued and never guaranteed.

Unjustifiable myopia

And European banks as they reacted to the crisis? The German, English, Irish, French, Spanish, Belgian and Dutch to avoid bankruptcy by toxic assets held in the financial statements have been nationalized or acquired by the State with the pragmatic consequences for the debt of sovereign states. In front of this mess is a question of obligation: "Where were all these years supervisory bodies of central banks and national banks?" Answers will vary, but none, absolutely none, can never justify what for many years has happened, is happening and will happen unfortunately.

Luxury villas and homes, sales increase in Italy

luxury house with pool

The luxury real estate market does not seem to have suffered from the crisis, indeed.

The analysis conducted by an indipendent observatory analyzed the sales of luxury real estate in Italy (here some examples of luxury homes and villas in Italy), recording an increase of 16% between 2011 and 2012.

You can buy real estate property and more throughout the boot and especially from abroad, particularly from Russia. Data that bode well for the industry in a time when other properties are still on the other hand if not in decline: Istat has photographed the real estate market in the same period that saw a decline in sales of 23.6%. Italy thus confirming land of beauty, able to attract foreign investors, attracted by the beauty of our country and the most exclusive houses.

The types of luxury homes in Italy ranging from ancient to modern, following the most beautiful routes in our country. The archaeological wonders, cultural and gastronomic traditions, natural beauty, ranging from the sea to the mountains, the reasons for living in Italy are many, especially for foreigners who have bought more prestigious properties between 2011 and 2012. The figure that emerges from the research speaks of buyers in the United States increased (+9%) and England (+3%). The most significant of these is Russia, which is an increase in double figures with a + 12% of searches on the portal, in particular from Moscow (+55%) and St. Petersburg (+30%).

Different types of luxury homes affecting buyers from Russia are wondering designer villas, while the British confirmed the charm of the Tuscan countryside (Chiantishire) or the cities of art, primarily Florence, Venice and Rome, while the U.S. recall Made in Italy remains the strongest.

Even the location vary according to the groups of buyers with a preference of Russian classics of Italian luxury in places like Lake Como, the fashion district of Milan and Sardinia, while the British link historic houses and castles of the Tuscan hills, the masserie or historic buildings in Venice, followed by the Americans who alternated historic farmhouses to villas and housing design.

Always the Russians are also distinguished by the greater purchasing power for luxury homes ranging from 10 thousand to 15 thousand euro per square meter, exceeding 15 thousand when it comes to villas in Costa Smeralda: the lower the average expenditure of British and American between the 8 thousand and 12 thousand euro per square meter.
 

Black numbers for housing market. Crisis!

Crisis make me cry

ITALY - Black for the housing market crisis, which also affects a small part of the demand for mortgages.

A enderlo known is the Fiaip Federation (estate agents referring to cercacasa.it) which publishes the data on the year 2012, emphasizing a reduction of 11, 98% of real estate prices and a reduction in the number of sales of 17.22% compared to 2011.

The effects of the economic crisis are also found from the analysis of a larger period, ie the five-year period 2008-2013 (according to the experts, the period of real economic crisis), where the only housing prices have fallen by 20-25 %, even the sales have been reduced by 40%. Compared to 2012, net also decrease the prices of rentals, from -5.6% of the locations for housing to -12.5% ​​of the leases for commercial use.

Fiaip appears slightly confident hope of a slow recovery in the second half of 2013 will persist if the conditions of political and economic stability. The real estate market of non-residential showed a decrease in the price of 14.89% for the shops, 15.27% for offices and of 15.04% for construction, with a decrease in sales which amounted on average around 20%.

43% of the trading is done with the use of mortgages and loans, but with a slight reduction in requests and disbursements compared to 2011. Among the cities, the gold medal for the decline in residential property prices in Perugia, the Umbrian capital is recording a peak of -17.13%; reverse speech to Taranto where property prices have fallen by "only" 2 %.