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[Reposted from Sep 2012:] 'Property Week': "Worker of the Future [in the] Property Industry"

"The global economic down turn has coincided with an incredible growth in creative technology solutions that have influenced the lives of everyone in the developed world.

In this White Paper from Property Week, in association with Qube Global Software, we get an understanding of how those who currently work within the property industry regard technology, and if cultural as well as IT changes may be necessary to meet the expectations of future generations.

Link to 'Property Week' PDF file

"Overview of the industry"

"Distressed legacy debt from the 2008 economic downturn is still an enormous problem. [A recent report] reveals that between £72.5bn and £100bn will struggle to be refinanced on current market terms, when the debt matures, as it has a loan-to-ratio value [sic - they meant "loan-to-value ratio" - we told them, and they corrected it!] of more than 70%.

"Banks still face a significant overhang of pre-recession property debt held on their balance sheets. Around £51bn is due to mature during 2012, and a total of £153bn – 72% of outstanding debt – by the end of 2016.

"Since the downturn began, banks have been criticised by the government and the industry for not lending more to kickstart the economy. Meanwhile, the European Union and the Financial Services Authority have piled on an increasing burden of legislation, such as Basel III and Solvency II, which prevents them doing just that.

"Key European gateway cities, such as London, have experienced good growth in some property sectors, but often to the detriment of regional towns and cities.

"The embattled retail sector has had to cope with the double-whammy of a faltering economy and aggressive competition from online sales. [Hey ho, Hammerson.]

"And the recent and ongoing eurozone crisis has piled more uncertainty on to an already unstable market."

Plus 'Property Week' breaking news:
BCSC: Westfield submits plans for Whitgift redevelopment
"Westfield has submitted a planning application for a 1.5m sq ft redevelopment of the Whitgift Centre in Croydon."
[in competition with Brent Cross's Hammerson - and now overtaken by events]

BCSC: Hammerson agrees £136m Victoria Quarter deal
"Hammerson has confirmed its purchase of the Victoria Quarter in Leeds for £136m, as revealed by PropertyWeek.com."

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