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The Property Reporter
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  • News
    Why you must attend Gulf News India Property Show this weekend

    Why you must attend Gulf News India Property Show this weekend

    Student Accommodation Awards – Meet our winners | News

    Student Accommodation Awards – Meet our winners | News

    Żubr Estate in Kraków to come to new life after nearly 16 years

    Żubr Estate in Kraków to come to new life after nearly 16 years

    Planning reform needed to ensure survival of capitalism in the UK, says report | News

    Planning reform needed to ensure survival of capitalism in the UK, says report | News

    Co-living properties grab European investors’ attention

    Co-living properties grab European investors’ attention

    UK industrial infrastructure ‘holding back technology superpower aims’ | News

    UK industrial infrastructure ‘holding back technology superpower aims’ | News

    Kempinki Hotels to start first project in Romania

    Kempinki Hotels to start first project in Romania

    Irish cinema group to enter mainland UK with Empire theatres acquisition | News

    Irish cinema group to enter mainland UK with Empire theatres acquisition | News

    ČEZ Esco and CTP to install PV in a series of halls in CR

    ČEZ Esco and CTP to install PV in a series of halls in CR

  • Retail
    Brookfield Lands $190 Million Refinancing for San Francisco Mall

    Brookfield Lands $190 Million Refinancing for San Francisco Mall

    Shrewsbury town centre retail space sold to a local investor

    Shrewsbury town centre retail space sold to a local investor

    Real estate company sells one retail property and buys another

    Real estate company sells one retail property and buys another

    Northwood Retail Puts Dallas’ Shops at Park Lane on the Market

    Northwood Retail Puts Dallas’ Shops at Park Lane on the Market

    Strong market fundamentals within suburban tri-state retail sector continue to encourage strong investor demand

    Strong market fundamentals within suburban tri-state retail sector continue to encourage strong investor demand

    Retail space finding its place in post-pandemic world

    Retail space finding its place in post-pandemic world

    Project to demolish Fall River strip mall for 350 apartments, retail space, appears to be off the table – Fall River Reporter

    Project to demolish Fall River strip mall for 350 apartments, retail space, appears to be off the table – Fall River Reporter

    NewMark Merrill Buys 172 KSF Retail Center in LA

    NewMark Merrill Buys 172 KSF Retail Center in LA

    Is this the right time to buy back into the REIT sector

    Is this the right time to buy back into the REIT sector

  • Residential
    Kingsville residents see residential property tax increase of $158.17

    Kingsville residents see residential property tax increase of $158.17

    What does the 2024 housing market have in store? Property experts make their predictions – The Irish Times

    What does the 2024 housing market have in store? Property experts make their predictions – The Irish Times

    Public invited to meeting to consider allowing up to four units on a residential property

    Public invited to meeting to consider allowing up to four units on a residential property

    JLL Income Property Trust Sells Uptown Charlotte Apartment Community

    JLL Income Property Trust Sells Uptown Charlotte Apartment Community

    Project515 panelists discuss residential real estate sector

    Project515 panelists discuss residential real estate sector

    PNB Housing Finance’s affordable home loan book is now worth ₹1,000 crore

    PNB Housing Finance’s affordable home loan book is now worth ₹1,000 crore

    Affordable housing project in Arlington Heights is a vote short — for now

    Affordable housing project in Arlington Heights is a vote short — for now

    City council begins annual break down of residential, commercial property tax rates

    City council begins annual break down of residential, commercial property tax rates

    Life insurers binge on US financing aimed at helping housing

    Life insurers binge on US financing aimed at helping housing

  • Office
    Multinational clothing company relocates from Hackensack to Rochelle Park office property

    Multinational clothing company relocates from Hackensack to Rochelle Park office property

    Commercial property confronts the ‘comedown’ from easy money

    Commercial property confronts the ‘comedown’ from easy money

    Wine membership club 67 Pall Mall to take space in Melbourne’s 85 Spring Street tower

    Wine membership club 67 Pall Mall to take space in Melbourne’s 85 Spring Street tower

    Commercial Properties, Inc. opens office to serve Pinal County and Tucson

    Commercial Properties, Inc. opens office to serve Pinal County and Tucson

    Kogi LG chair auctions govt property few days to leaving office

    Kogi LG chair auctions govt property few days to leaving office

    SL Green Realty sells 625 Madison Avenue office property for $633m | News

    SL Green Realty sells 625 Madison Avenue office property for $633m | News

    Huron Plainsman | Unclaimed Property division to hold remote office at Huron Public Library on Wednesday

    Huron Plainsman | Unclaimed Property division to hold remote office at Huron Public Library on Wednesday

    Commercial real estate brokerage firm opens Lafayette office | Business

    Commercial real estate brokerage firm opens Lafayette office | Business

    Ritchie Real Estate, Khmericano Coffee celebrate Pineville openings

    Ritchie Real Estate, Khmericano Coffee celebrate Pineville openings

  • Industrial
    DIV to Develop 848 KSF Phoenix-Area Industrial Campus

    DIV to Develop 848 KSF Phoenix-Area Industrial Campus

    Unanderra industrial property linked to Vito Pennimpede sells at auction | Illawarra Mercury

    Unanderra industrial property linked to Vito Pennimpede sells at auction | Illawarra Mercury

    541 Avenue B Building 10 Leetsdale Pa 15056

    541 Avenue B Building 10 Leetsdale Pa 15056

    Pricing Reset on Industrial Properties in Texas Has Executive Looking Outside the Box

    Pricing Reset on Industrial Properties in Texas Has Executive Looking Outside the Box

    This Week’s Dallas-Fort Worth Deal Sheet (December 12, 2023)

    This Week’s Dallas-Fort Worth Deal Sheet (December 12, 2023)

    The top 10 commercial property deals of 2023 – The Irish Times

    The top 10 commercial property deals of 2023 – The Irish Times

    Commercial property market endures yet another turbulent year – The Irish Times

    Commercial property market endures yet another turbulent year – The Irish Times

    Valor completes £101m loan on London urban logistics assets

    Valor completes £101m loan on London urban logistics assets

    HOT PROPERTIES: Conservation group buys Campobello land

    HOT PROPERTIES: Conservation group buys Campobello land

  • Hotel
    Saudi Arabia snaps up 49% of Rocco Forte Hotels

    Saudi Arabia snaps up 49% of Rocco Forte Hotels

    Saudi wealth fund PIF to acquire 49% stake in Rocco Forte

    Saudi wealth fund PIF to acquire 49% stake in Rocco Forte

    Top Urban Hotspots Entice Hotel Investors

    Top Urban Hotspots Entice Hotel Investors

    FibraHotel Exec Says Mexican Real Estate Investment Trusts Are ‘Growing Up’

    FibraHotel Exec Says Mexican Real Estate Investment Trusts Are ‘Growing Up’

    Saudi Arabia Fund Acquires ‘Substantial Minority’ Stake in London-Based Rocco Forte Hotels

    Saudi Arabia Fund Acquires ‘Substantial Minority’ Stake in London-Based Rocco Forte Hotels

    Meghalaya approves PPP policy for tourism, invites private investments in greenfield hotel projects  – Tourism Breaking News

    Meghalaya approves PPP policy for tourism, invites private investments in greenfield hotel projects  – Tourism Breaking News

    Croatia’s Imperial Riviera to invest 38.4 mln euro in 2024

    Croatia’s Imperial Riviera to invest 38.4 mln euro in 2024

    Croatia’s Valamar Riviera to invest 43 mln euro in 2024

    Croatia’s Valamar Riviera to invest 43 mln euro in 2024

    Startup news and updates: daily roundup (December 5, 2023) – YourStory

    Startup news and updates: daily roundup (December 5, 2023) – YourStory

  • Buying a Home
    Family loans for buying a home may push up house prices

    Family loans for buying a home may push up house prices

    Murphy Home Buyers Expands Quick Cash Home Buying Services in

    Murphy Home Buyers Expands Quick Cash Home Buying Services in

    Tampa Bay’s Best Neighborhoods Home Buyers Should Consider

    Tampa Bay’s Best Neighborhoods Home Buyers Should Consider

    Top housing markets for 2024? Two Mass. metros make the list.

    Top housing markets for 2024? Two Mass. metros make the list.

    Fannie Mae slashed its down payment requirements to just 5% for multi-family homes — and real estate moguls are smiling. Should you jump in?

    Fannie Mae slashed its down payment requirements to just 5% for multi-family homes — and real estate moguls are smiling. Should you jump in?

    It's Not a Good Time to Buy a Home—Anywhere – Bloomberg

    It's Not a Good Time to Buy a Home—Anywhere – Bloomberg

    Henrico to help employees buy homes – Richmond – WWBT

    Henrico to help employees buy homes – Richmond – WWBT

    Should I buy a bigger house?

    Should I buy a bigger house?

    Jeff Bezos Is Funding a Real Estate Startup Buying Up Family Homes to Rent – VICE

    Jeff Bezos Is Funding a Real Estate Startup Buying Up Family Homes to Rent – VICE

  • Selling a Home
    Top Amazon Product Categories in 2024

    Top Amazon Product Categories in 2024

    How To Sell A Home On Zillow

    How To Sell A Home On Zillow

    Luxury Cruise: Ohio woman sells home for $32,000 luxury cruise that got cancelled

    Luxury Cruise: Ohio woman sells home for $32,000 luxury cruise that got cancelled

    Real Estate Logic – Selling your home in the winter

    Real Estate Logic – Selling your home in the winter

    I’m Selling My Home and Netting $750k to Downsize for Retirement. Do I Have to Pay Capital Gains Taxes?

    I’m Selling My Home and Netting $750k to Downsize for Retirement. Do I Have to Pay Capital Gains Taxes?

    What are homes selling for in Evansville and Vanderburgh County?

    What are homes selling for in Evansville and Vanderburgh County?

    Steve and Carmen Davidson sell Bellevue Hill mansion in Sydney for $38 million

    Steve and Carmen Davidson sell Bellevue Hill mansion in Sydney for $38 million

    Bristol County median home prices increased 16.4% from Nov. 2022

    Bristol County median home prices increased 16.4% from Nov. 2022

    Real Estate titan ‘anxious’ ahead of family home sale

    Real Estate titan ‘anxious’ ahead of family home sale

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  • Home
  • News
    Why you must attend Gulf News India Property Show this weekend

    Why you must attend Gulf News India Property Show this weekend

    Student Accommodation Awards – Meet our winners | News

    Student Accommodation Awards – Meet our winners | News

    Żubr Estate in Kraków to come to new life after nearly 16 years

    Żubr Estate in Kraków to come to new life after nearly 16 years

    Planning reform needed to ensure survival of capitalism in the UK, says report | News

    Planning reform needed to ensure survival of capitalism in the UK, says report | News

    Co-living properties grab European investors’ attention

    Co-living properties grab European investors’ attention

    UK industrial infrastructure ‘holding back technology superpower aims’ | News

    UK industrial infrastructure ‘holding back technology superpower aims’ | News

    Kempinki Hotels to start first project in Romania

    Kempinki Hotels to start first project in Romania

    Irish cinema group to enter mainland UK with Empire theatres acquisition | News

    Irish cinema group to enter mainland UK with Empire theatres acquisition | News

    ČEZ Esco and CTP to install PV in a series of halls in CR

    ČEZ Esco and CTP to install PV in a series of halls in CR

  • Retail
    Brookfield Lands $190 Million Refinancing for San Francisco Mall

    Brookfield Lands $190 Million Refinancing for San Francisco Mall

    Shrewsbury town centre retail space sold to a local investor

    Shrewsbury town centre retail space sold to a local investor

    Real estate company sells one retail property and buys another

    Real estate company sells one retail property and buys another

    Northwood Retail Puts Dallas’ Shops at Park Lane on the Market

    Northwood Retail Puts Dallas’ Shops at Park Lane on the Market

    Strong market fundamentals within suburban tri-state retail sector continue to encourage strong investor demand

    Strong market fundamentals within suburban tri-state retail sector continue to encourage strong investor demand

    Retail space finding its place in post-pandemic world

    Retail space finding its place in post-pandemic world

    Project to demolish Fall River strip mall for 350 apartments, retail space, appears to be off the table – Fall River Reporter

    Project to demolish Fall River strip mall for 350 apartments, retail space, appears to be off the table – Fall River Reporter

    NewMark Merrill Buys 172 KSF Retail Center in LA

    NewMark Merrill Buys 172 KSF Retail Center in LA

    Is this the right time to buy back into the REIT sector

    Is this the right time to buy back into the REIT sector

  • Residential
    Kingsville residents see residential property tax increase of $158.17

    Kingsville residents see residential property tax increase of $158.17

    What does the 2024 housing market have in store? Property experts make their predictions – The Irish Times

    What does the 2024 housing market have in store? Property experts make their predictions – The Irish Times

    Public invited to meeting to consider allowing up to four units on a residential property

    Public invited to meeting to consider allowing up to four units on a residential property

    JLL Income Property Trust Sells Uptown Charlotte Apartment Community

    JLL Income Property Trust Sells Uptown Charlotte Apartment Community

    Project515 panelists discuss residential real estate sector

    Project515 panelists discuss residential real estate sector

    PNB Housing Finance’s affordable home loan book is now worth ₹1,000 crore

    PNB Housing Finance’s affordable home loan book is now worth ₹1,000 crore

    Affordable housing project in Arlington Heights is a vote short — for now

    Affordable housing project in Arlington Heights is a vote short — for now

    City council begins annual break down of residential, commercial property tax rates

    City council begins annual break down of residential, commercial property tax rates

    Life insurers binge on US financing aimed at helping housing

    Life insurers binge on US financing aimed at helping housing

  • Office
    Multinational clothing company relocates from Hackensack to Rochelle Park office property

    Multinational clothing company relocates from Hackensack to Rochelle Park office property

    Commercial property confronts the ‘comedown’ from easy money

    Commercial property confronts the ‘comedown’ from easy money

    Wine membership club 67 Pall Mall to take space in Melbourne’s 85 Spring Street tower

    Wine membership club 67 Pall Mall to take space in Melbourne’s 85 Spring Street tower

    Commercial Properties, Inc. opens office to serve Pinal County and Tucson

    Commercial Properties, Inc. opens office to serve Pinal County and Tucson

    Kogi LG chair auctions govt property few days to leaving office

    Kogi LG chair auctions govt property few days to leaving office

    SL Green Realty sells 625 Madison Avenue office property for $633m | News

    SL Green Realty sells 625 Madison Avenue office property for $633m | News

    Huron Plainsman | Unclaimed Property division to hold remote office at Huron Public Library on Wednesday

    Huron Plainsman | Unclaimed Property division to hold remote office at Huron Public Library on Wednesday

    Commercial real estate brokerage firm opens Lafayette office | Business

    Commercial real estate brokerage firm opens Lafayette office | Business

    Ritchie Real Estate, Khmericano Coffee celebrate Pineville openings

    Ritchie Real Estate, Khmericano Coffee celebrate Pineville openings

  • Industrial
    DIV to Develop 848 KSF Phoenix-Area Industrial Campus

    DIV to Develop 848 KSF Phoenix-Area Industrial Campus

    Unanderra industrial property linked to Vito Pennimpede sells at auction | Illawarra Mercury

    Unanderra industrial property linked to Vito Pennimpede sells at auction | Illawarra Mercury

    541 Avenue B Building 10 Leetsdale Pa 15056

    541 Avenue B Building 10 Leetsdale Pa 15056

    Pricing Reset on Industrial Properties in Texas Has Executive Looking Outside the Box

    Pricing Reset on Industrial Properties in Texas Has Executive Looking Outside the Box

    This Week’s Dallas-Fort Worth Deal Sheet (December 12, 2023)

    This Week’s Dallas-Fort Worth Deal Sheet (December 12, 2023)

    The top 10 commercial property deals of 2023 – The Irish Times

    The top 10 commercial property deals of 2023 – The Irish Times

    Commercial property market endures yet another turbulent year – The Irish Times

    Commercial property market endures yet another turbulent year – The Irish Times

    Valor completes £101m loan on London urban logistics assets

    Valor completes £101m loan on London urban logistics assets

    HOT PROPERTIES: Conservation group buys Campobello land

    HOT PROPERTIES: Conservation group buys Campobello land

  • Hotel
    Saudi Arabia snaps up 49% of Rocco Forte Hotels

    Saudi Arabia snaps up 49% of Rocco Forte Hotels

    Saudi wealth fund PIF to acquire 49% stake in Rocco Forte

    Saudi wealth fund PIF to acquire 49% stake in Rocco Forte

    Top Urban Hotspots Entice Hotel Investors

    Top Urban Hotspots Entice Hotel Investors

    FibraHotel Exec Says Mexican Real Estate Investment Trusts Are ‘Growing Up’

    FibraHotel Exec Says Mexican Real Estate Investment Trusts Are ‘Growing Up’

    Saudi Arabia Fund Acquires ‘Substantial Minority’ Stake in London-Based Rocco Forte Hotels

    Saudi Arabia Fund Acquires ‘Substantial Minority’ Stake in London-Based Rocco Forte Hotels

    Meghalaya approves PPP policy for tourism, invites private investments in greenfield hotel projects  – Tourism Breaking News

    Meghalaya approves PPP policy for tourism, invites private investments in greenfield hotel projects  – Tourism Breaking News

    Croatia’s Imperial Riviera to invest 38.4 mln euro in 2024

    Croatia’s Imperial Riviera to invest 38.4 mln euro in 2024

    Croatia’s Valamar Riviera to invest 43 mln euro in 2024

    Croatia’s Valamar Riviera to invest 43 mln euro in 2024

    Startup news and updates: daily roundup (December 5, 2023) – YourStory

    Startup news and updates: daily roundup (December 5, 2023) – YourStory

  • Buying a Home
    Family loans for buying a home may push up house prices

    Family loans for buying a home may push up house prices

    Murphy Home Buyers Expands Quick Cash Home Buying Services in

    Murphy Home Buyers Expands Quick Cash Home Buying Services in

    Tampa Bay’s Best Neighborhoods Home Buyers Should Consider

    Tampa Bay’s Best Neighborhoods Home Buyers Should Consider

    Top housing markets for 2024? Two Mass. metros make the list.

    Top housing markets for 2024? Two Mass. metros make the list.

    Fannie Mae slashed its down payment requirements to just 5% for multi-family homes — and real estate moguls are smiling. Should you jump in?

    Fannie Mae slashed its down payment requirements to just 5% for multi-family homes — and real estate moguls are smiling. Should you jump in?

    It's Not a Good Time to Buy a Home—Anywhere – Bloomberg

    It's Not a Good Time to Buy a Home—Anywhere – Bloomberg

    Henrico to help employees buy homes – Richmond – WWBT

    Henrico to help employees buy homes – Richmond – WWBT

    Should I buy a bigger house?

    Should I buy a bigger house?

    Jeff Bezos Is Funding a Real Estate Startup Buying Up Family Homes to Rent – VICE

    Jeff Bezos Is Funding a Real Estate Startup Buying Up Family Homes to Rent – VICE

  • Selling a Home
    Top Amazon Product Categories in 2024

    Top Amazon Product Categories in 2024

    How To Sell A Home On Zillow

    How To Sell A Home On Zillow

    Luxury Cruise: Ohio woman sells home for $32,000 luxury cruise that got cancelled

    Luxury Cruise: Ohio woman sells home for $32,000 luxury cruise that got cancelled

    Real Estate Logic – Selling your home in the winter

    Real Estate Logic – Selling your home in the winter

    I’m Selling My Home and Netting $750k to Downsize for Retirement. Do I Have to Pay Capital Gains Taxes?

    I’m Selling My Home and Netting $750k to Downsize for Retirement. Do I Have to Pay Capital Gains Taxes?

    What are homes selling for in Evansville and Vanderburgh County?

    What are homes selling for in Evansville and Vanderburgh County?

    Steve and Carmen Davidson sell Bellevue Hill mansion in Sydney for $38 million

    Steve and Carmen Davidson sell Bellevue Hill mansion in Sydney for $38 million

    Bristol County median home prices increased 16.4% from Nov. 2022

    Bristol County median home prices increased 16.4% from Nov. 2022

    Real Estate titan ‘anxious’ ahead of family home sale

    Real Estate titan ‘anxious’ ahead of family home sale

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Home Residential

Holiday homes are ‘hollowing out’ coastal areas, says MP | Housing

PrR by PrR
2022-06-18
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Holiday homes are ‘hollowing out’ coastal areas, says MP | Housing
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Coastal communities are being “hollowed out irretrievably” by a surge in holiday homes, an MP has warned, as new figures showed more than 17,000 properties in England have been “flipped” into short-term lets since Covid-19.

The poll came as MPs and campaign groups warned that vital public services – including schools, trains and buses – were in danger of vanishing from tourist hotspots due to a shortage of affordable homes.

“We’re sleepwalking into a new chapter of the housing crisis where communities are being hollowed out in a way that is irretrievable,” said the Labour MP Luke Pollard. “We’re beyond the tipping point in some places.”

The Covid pandemic has “turbo-charged” the housing crisis in many rural and coastal communities, Pollard said, as wealthy outsiders snap up holiday retreats – taking properties off the market and pushing prices beyond the reach of local residents.

This week, residents in the Yorkshire seaside town of Whitby became the latest to voice their anger about the housing crisis when they voted overwhelmingly for curbs on second homes.

House prices in seaside resorts increased by 13.9% on average last year, outpacing the national rise of 9.9%, according to the property website Rightmove. All but one of the 10 areas where house prices have doubled in the last decade are by the sea.

In Whitby, there are 20 times more Airbnb listings than properties available to buy on Rightmove, according to research by the Guardian – 1,349 short-term lets compared with 67 homes for sale.

In Cornwall, there were more than 13,000 holiday stays online in April – compared with 3,103 properties for sale. The homes available in these areas are generally far beyond the means of the local average salary.

Julian German, the former independent leader of Cornwall council, said the loss of permanent residences in the area he represents – Roseland, south of Truro – was “staggering”.

Graph showing number of second homes in England that have been converted into holiday rentals since the start of the Covid pandemic.

German said: “Fundamentally, it means the end of these communities as people cannot afford to live in them – the end of the traditions and culture that have bound these communities together.”

He added that the region’s tourism trade faced a bleak future without further government intervention, warning: “The golden goose will be killed.”

Second home owners have sought to capitalise on the boom in domestic holidays during the pandemic.

Owners of 17,135 second homes in England have “flipped” their properties to become holiday rentals since March 2020, according to research for the Guardian by real estate adviser Altus Group. More than a third of these properties are in the south-west of England.

In many desirable locations, most properties are now second homes. In the Devon resort of Salcombe, 57% of properties are holiday homes, rising to 80% in Hope Cove and 95% in Thurlestone Sands.

Anthony Mangnall, the area’s Conservative MP, has warned that doctors, nurses and teachers were among those being priced out by a housing crisis that has grown “distinctly more alarming” since 2020.

Under pressure from MPs, including Conservatives in the south-west, the government has sought to close a loophole that allows second home owners to avoid paying council tax if they can show the property was available to let at least 140 days a year – even if it is never rented out.

Owners of holiday homes are entitled to claim 100% of small business rates relief if their properties have a rental value of less than £12,000, meaning they pay no business rates or council tax.

From next April, second home owners in England will have to prove that holiday lets are rented out for a minimum of 70 days a year to access the small business relief.

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But campaigners want ministers to go further. The Welsh government plans to introduce a 300% council tax premium on second homes and make it harder for those properties to be eligible for business rates instead of council tax.

One idea is for a “last shop in the village fund” whereby councils can charge a levy on empty second homes to support dwindling community services such as the post office, pubs, buses and pharmacies.

Dan Wilson Craw, deputy director of housing campaign group Generation Rent, said: “It’s no good places like Whitby having a roaring tourism trade if no one can afford to live there. It’s essential that newly built houses actually provide homes to locals, but without further measures, would-be second home owners will simply snap up existing properties.”



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