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    Seoul and Tokyo the fastest growing housing markets globally

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    House prices have surged by 25.2% in Seoul in South Korea, making it the fastest growing prime market in the world.
    After Seoul comes Tokyo in Japan (16.3%), and Dubai (15.8%) in the United Arab Emirates.
    Knight Frank, which compared global markets across 46 cities, also noted that these three cities are also the fastest growing in the past five years – just in a different order.
    Tokyo has seen the biggest five-year uplift (120%), followed by Dubai (107%) and Seoul (81%).
    Seoul prices have surged thanks to low interest rates to boost mortgage affordability, investors in Tokyo have been boosted by a weaker Yen, while Dubai has seen an influx of international investors.
    Liam Bailey, Knight Frank’s global head of research said: ‘A more complex economic outlook, particularly in the US, has added another layer of uncertainty.

    “Strong underlying fundamentals, such as wealth creation and supply constraints in prime districts, will support prices, but a significant acceleration in the market is unlikely in the second half of the year.
    “Prime markets are taking a collective breath. The recovery we have seen over recent quarters was aided by the expectation of lower borrowing costs, and with that timeline now pushed out, a cooling in price growth is inevitable.
    “We’re seeing a more fragmented market, with some European cities showing surprising strength while former high-flyers in Asia begin to level off.”
    London is currently showing a year-on-year reduction of -2.5%, while other markets seeing falling house prices include Hong Kong (14.3%), Guangzhou in China (8.9%), and Toronto in Canada (-6.7%).
    Three quarters (75%) of cities saw positive house price growth over the past 12 months, at an average rate of 2.3%. More

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      Inntelo AI raises £506,000 pre-seed to accelerate rollout of AI concierge in hotels

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      UK-based hospitality technology company Inntelo AI has raised more than £500,000 in a pre-seed funding round to fuel its commercial growth. It follows impressive early traction, with multiple hotels adopting its AI Concierge platform.
      The £506,000 round was led by venture capital fund Haatch and its partner British Business Bank, with participation from Look AI Ventures. The round also included support from several angel investors, including former executives from Trip.com, DocuSign, and others. It follows an earlier £120,000 investment from Antler, the world’s most active early-stage investor, at the company’s inception.
      Inntelo AI has developed an innovative platform for hotels that combines guest and team communication seamlessly, leveraging both conversational and agentic AI to improve the guest experience while delivering real operational efficiencies. The Inntelo AI Concierge automates guest enquiries via WhatsApp or phone and converts them into coordinated tasks, improving team responsiveness across all departments, including housekeeping, maintenance, food and beverage outlets, spas, and any other services the hotel provides.
      While all industries are undergoing AI transformation, hotels face unique pressures: growing competition, rising costs, and the need to attract a new generation of workers. At the same time, real estate owners, brands, and operators are re-evaluating their models as AI becomes capable of delivering human-like guest interactions and improving team coordination at scale.
      Inntelo’s solution is built with deep domain expertise and aims to benefit all key stakeholders – hotel guests, teams, brands, and owners. The company has already gained traction with both independent and franchised hotels, including Radisson and Wyndham branded properties in the UK, UAE, and across Europe, with more hotels currently being onboarded.
      The seed funding will help accelerate the company’s commercial growth, expanding sales and marketing while supporting ongoing customer deployments and integration with property management systems.

      Inntelo AI was co-founded by CEO Asif Alidina, who has previously worked for over a decade in hotel housekeeping and facilities management. The hands-on experience of the startup’s leadership team – combined with a newly announced global advisory board of senior operators, technologists, and academics from companies including Accor, Fairmont, and Hilton – ensures the company’s solutions are aligned with real-world hospitality needs.
      Asif Alidina, Co-Founder and CEO of Inntelo AI (pictured), said: “Hospitality’s AI transformation must be led from within the industry. Too often, hotels have struggled to adopt new technologies because they were developed without real operational insight. We’re incredibly excited about this new era, where the hospitality sector can not only embrace technology earlier than ever before, but also lead the way for the wider real estate and service industries.
      “AI can improve guest experiences and create better working environments for hotel teams. That’s the future we’re building toward, and this round gives us the support to move faster and go further.”
      Fred Soneya, Co-Founder and General Partner at Haatch, added: “Inntelo AI has all the hallmarks we look for in a high-potential startup – deep sector knowledge, real operational insight, and a product solving a clear pain point in a large, global market. We’re excited to back Asif and the team as they help hotels unlock the power of AI to transform the guest experience and streamline operations at scale.”
      Angelo Burgarello, Partner at Look AI Ventures, added: “At Look AI Ventures, we invest in transformative AI technologies with the potential to reshape entire industries. Inntelo AI perfectly embodies this vision. What immediately stood out to us was Inntelo’s ability to bridge the gap between guest expectations and hotel staff operations, something most solutions address only partially. The result is a unified, elevated guest journey and highly efficient hotel staff coordination. We were particularly impressed by the team’s deep domain expertise and the capabilities of their product. We’re proud to support the Inntelo team on their mission to redefine hospitality through AI-driven innovation.” More

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      Inntelo AI appoints global advisory board to accelerate innovation and growth in hospitality tech

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      UK-based hospitality technology company Inntelo AI has announced the formation of its global advisory board, comprising renowned hospitality leaders from the UK, Europe, North America, and the Middle East.
      Inntelo AI has developed a conversational and agentic AI tool for hotels. Its AI Concierge works alongside hotel teams to enhance guest experiences and streamline daily operations. Guests can easily access concierge services and resolve any issues via WhatsApp and phone calls, which are initially answered by an AI agent available 24/7 in multiple languages, ensuring seamless and consistent support. Tasks are then automatically assigned to staff, and the hotel teams are coordinated to improve speed and reduce friction in daily operations.
      The company’s new board brings together senior operators, developers, academics, and technologists with experience across global brands such as Accor, Fairmont, Hilton, Wyndham, and Choice Hotels. Their insights will guide Inntelo AI’s ongoing product development and expansion.
      The news follows a string of new clients using Inntelo AI, including hotels in the UK, Portugal, and Dubai.

      Asif Alidina, Co-Founder and CEO of Inntelo AI, said: “AI is entering almost every sector with incredible speed, unlocking new efficiencies and business models across the board. In hospitality, it’s critical that this transformation is guided by those who understand the industry inside and out. Too often, solutions are built without deep operational context. At Inntelo AI, we’re taking a different approach, partnering with world-class hospitality leaders to ensure AI enhances both the guest experience and the working lives of hotel teams, without losing the human touch that defines our industry.
      “I’m incredibly excited to have these highly respected leaders shaping our strategy. Their insights have already made a powerful impact, and I can’t wait to share the results of their contribution as we grow globally.”
      The advisory board includes:

      Tariq Valani, UAE: Former SVP at Accor, with global leadership experience at Fairmont Hotels & Resorts, and a Global Board Director at HFTP, the organisers of HITEC.
      Mary Doogan, UK: A strategic advisor to hotel owners with over 20 years’ experience      managing portfolios in the London luxury market.
      Dr. Andriew Lim, NL: Chair of Entrepreneurship Hub, Hotelschool The Hague, one of the top ten hotel schools in the world.
      Dr. Altaf Sovani, CA: Author of “Labor Crisis in Hospitality,” former Academic Chair at Algonquin College, and was named one of the 30 Most Influential Educators in Global Hospitality.
      Anoob Saban, UK: Owner of Brilliant Hotel Group, which operates nine independent hotels across the UK, including Radisson and Wyndham properties.
      Jesus Espinar, UK: General Manager of DoubleTree by Hilton, London Victoria, with over 20 years of hotel leadership experience at Hilton and NH Hotels.
      Hemal Patel, USA: A seasoned hotel owner and operator managing properties under the Wyndham and Choice Hotels brands across the US.
      Alnoor Gulamani, CA: Experienced developer and hotelier who operates the DoubleTree by Hilton Downtown Toronto, among other assets, and is on the Board of Directors of the Hotel Association of Canada. More

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      Trump tariffs could freeze Bank of England base rate

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      The inflationary effects of President Donald Trump’s tariffs mean the Bank of England could keep the base rate at its current level for longer, according to an economist.
      While cutting the base rate from its current level of 4.5% could be a way to stimulate the economy, tariffs tend to have inflationary effects that would only be exacerbated by lower interest rates.
      Dr David Crosthwaite, chief economist at BCIS, said: “I remain unconvinced that the base rate will fall to 3.5% by the end of the year.
      “Tariffs by their nature tend to be inflationary, so while the Bank of England may need to stimulate the wider economy, they will also be concerned about inflation.”
      The Bank’s Monetary Policy Committee will next meet on the 8 May. On 20 March the MPC voted to hold the base rate at 4.5% by eight votes to one.
      The UK’s comparatively low tariffs could potentially attract some foreign firms looking to sidestep higher duties elsewhere.

      The UK is subject to a 10% tariff, compared to 20% across the EU.
      Crosthwaite added: “While I don’t think that the direct impact of the tariff regime will affect the UK construction sector significantly, the indirect impacts could well be substantial.
      “The uncertainty for businesses is likely to act as a brake on investment at a time when the government is keen to attract private investment to fund infrastructure delivery.
      “In addition, firms may well rein in any investment planned on fixed capital until they have an understanding of the potential hit to their bottom line from the tariffs.
      “However, on the flip side, and assuming that the quoted tariffs are long-term and can’t be negotiated via a trade deal, then, given the UK’s lower tariff rate relative to other countries, foreign businesses may look to the UK to set up manufacturing plants here so they can avoid some of the higher-level tariffs.
      “An example of that is Apple moving some of its production to India, which has a lower rate relative to China.” More

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      Overseas clients key to growth for brokers, but finding lenders and navigating policy changes are major challenges

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      While most UK mortgage brokers are keen to grow their customer base internationally, finding suitable lenders and dealing with the complexities of government policy are proving to be significant obstacles when taking on non-UK clients, new research from RAW Capital Partners has found.
      The Guernsey-based specialist lender commissioned an independent survey of 300 UK mortgage brokers. It found that while just 35% “frequently” work with non-UK resident buyers, over three fifths (62%) are actively seeking to expand their overseas client base.
      More than half (60%) of the brokers surveyed said they have noticed an increase in demand from overseas in the past five years, while 63% expect this demand to rise or remain consistent in the five years ahead.
      However, RAW Capital Partners’ survey also found that brokers face notable challenges when seeking mortgages for non-UK residents buying property in the UK. For instance, two-thirds (66%) of brokers said the introduction of new policies since the Labour government came to power have led to overseas clients requiring greater support from brokers, particularly in helping them understand stamp duty reforms and private rental sector regulation.

      Additionally, 62% of UK mortgage brokers feel there are too few lenders that are willing or able to work with non-UK clients.
      Tim Parkes, CEO of RAW Capital Partners, said: “The demand for UK property from overseas investors remains perennially high, and brokers are clearly responding to this by actively seeking out ways to grow their client base internationally. Indeed, with economic turbulence commonplace across many countries around the world, we’ve seen investors shifting focus to the UK to reap the benefits of its historically strong, stable and resilient property market.
      “However, the inability or reluctance of mainstream mortgage providers to lend to non-UK residents, typically because of the extra due diligence required, has left brokers and international buyers in a difficult position. Now, with many brokers expecting interest from international buyers to rise in the coming years, it is more important than ever that the specialist finance sector fills this gap.” More

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      US commercial stock most in need of redevelopment

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      Some 44% of office buildings in the US are seen as outdated and in need of investment, analysis from commercial real estate firm JLL has found.
      This compares to 34% in Europe, as some countries are ahead of others in terms of decarbonising commercial stock.
      New York, Washington DC, Paris, Chicago and London are particularly behind, where JLL estimated you’d need to spend between $242 to $320 billion to bring them up to date.
      Cynthia Kantor, CEO, project & development services, at JLL, said: “The commercial real estate landscape is at a turning point as property owners and cities look to establish long-term viability of existing buildings and districts, in the face of evolving experiential and spatial preferences, increasing regulatory pressures, climate risk and changes in real estate demand.

      “By proactively assessing and addressing outdated and at-risk buildings, owners can unlock significant value, create a more sustainable, resilient built environment and drive future returns.”
      JLL said public authorities that focus on regeneration of specific major building are making a big difference, given that it attracts workers back to office-heavy business districts, and serves to revitalise neighbourhoods for visitors and residents.
      Phil Ryan, research director at JLL, added: “The full potential of existing assets, both those nearing the end and earlier in their lifecycle, can only be realized through collaboration between stakeholders and by considering how various levels of obsolescence interact
      “Owners and cities should assess how their portfolios holistically fit into their respective built environments and how a variety of factors contribute to their ability to respond to changing locational preferences and new sustainability and development regulations to create future value.” More

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      Global News Archives – PropertyWire

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      Global News Archives – PropertyWirehttps://www.propertywire.com/category/news/global-news/ UK & International Property News ServiceTue, 13 Apr 2021 20:50:51 +0000en-GB hourly 1 https://wordpress.org/?v=6.6.2Barings Announces £250m Real Estate Mandatehttps://www.propertywire.com/finance/barings-announces-250m-real-estate-mandate/ Wed, 14 Apr 2021 06:00:45 +0000https://www.propertywire.com/?p=26227Barings has announced a £250m real estate debt mandate with The Phoenix Group for its matching adjustment portfolio. In partnership with Phoenix, Barings will build a […] More

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      Pegasus Group appoints new director of planning in Scotland

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      Taylor Wimpey gets go-ahead for 1,730-home Wisley Airfield scheme

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