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Copenhagen, Manchester, Madrid and Barcelona expected to see highest levels of short term residential price growth across the EMEA region

According to JLL’s new EMEA Residential Property Clock.

​LONDON, 16 March 2016 – Copenhagen, Manchester, Madrid and Barcelona are expected to see the highest levels of short term residential price growth across the EMEA region according to JLL’s new EMEA Residential Property Clock. 

The JLL EMEA Residential Property Clocks monitors both capital value and rental income movements across the region’s principal residential markets. Each city’s position on the clock indicates JLL’s assessment of their current rental and sales markets.  

The positioning of each city on the property clock also takes into account the short term outlook for each location at the end of each quarter but is not intended to be representative of investment or development market prospects. 

Philip Wedge-Bernal Residential Research EMEA Analyst at JLL comments: “These tools provide a contemporary snapshot of EMEA’s most significant residential cities and illustrate their movements in both capital value and rental income growth”. 

“Spain is the only country to have all its focus markets tipped to see rental price and capital value growth in the near future.” 

“Spanish residential markets have exhibited solid capital value growth over the past year with Madrid and Barcelona experiencing 3.1% and 3.4% increases respectively. This is expected to continue in the short to medium-term as these markets recover from previous periods of negative growth.” 

“Looking at the London residential market, the Property Clock shows how demand for Central London residential has slowed over the past quarter and is predicted to continue to fall. This has been driven by a deepening of global economic uncertainty, notably from China, but more significantly by the imposition of an additional 3% Stamp Duty charge for second home purchasers and investors.”

“Similarly, the residential market in Dubai is expected to experience a continuation of this slowdown in capital values as a result of subdued sales activity throughout the past calendar year. 

“We believe that lower oil prices and geopolitical unrest has negatively impacted investor sentiment which goes some way to explaining this trend. The strengthening of the U.S dollar, which makes UAE property more expensive for overseas investors, further exacerbates these factors.”

“Following a rapid increase of residential prices and rents between 2012 and 2014, the market is now undergoing a period of stabilisation. JLL expect further softening to continue in 2016 as the market adjusts to lower levels of activity.”