Pick of the Bunch: W/E 31st January 2025

We’re thrilled to celebrate our 100th edition with exciting updates and fresh insights from GKR International!

As always, we’re showcasing the latest opportunities across diverse real estate sectors and offering key global recruitment insights to help you stay ahead in an increasingly competitive market. At GKR, we understand the challenges you face, and our goal is to equip you with the best tools and strategies to secure top talent and drive growth in your real estate business.

In this edition, we feature a short clip with Grant Kaveney , highlighting our approach to candidate care and the personal touch we bring to recruitment at GKR. It's just a glimpse into how we work to ensure both candidates and clients have a seamless experience.

Our mission remains the same: to provide you with the tools and knowledge necessary to stay ahead in this constantly evolving industry. Whether you're looking for fresh talent or career development, we're here to support your success.

Residential Real Estate

Christie's International Real Estate has launched a new affiliate in Hong Kong, led by seasoned real estate expert Samson Law. With over 30 years of experience, Law brings a vast private client database, a crucial advantage in a market where listings are not publicly available. The new brokerage, based in Admiralty, plans to expand its team and leverage Christie’s global luxury network. The move follows recent expansions in Singapore, Thailand, and Vietnam, reinforcing the brand’s presence in Asia. With potential economic growth in mainland China and possible interest rate cuts, Law remains optimistic about Hong Kong’s luxury property market.

Propertymark has responded to Westminster City Council ’s consultation on renewing and potentially expanding the requirement for planning permission to display sales and lettings boards, arguing that its members' high professional standards should exempt them from the plans. While acknowledging the importance of preserving Westminster’s aesthetic appeal, Propertymark warns against measures that could unfairly impact responsible agents. Regulation 7, which requires council consent for estate agents' boards in certain areas, aims to prevent excessive signage, particularly in conservation zones, adding further control beyond existing advertisement regulations.

The Welsh Government has extended the Help to Buy (HtB) scheme by 18 months to September 2026, providing continued support for first-time buyers and new home sales. Since its launch in 2014, HtB has helped over 14,350 buyers in Wales, particularly in the South East, where demand is highest. However, unchanged value caps may limit its impact, as rising house prices mean fewer homes qualify under the scheme. While calls for regional value caps were rejected, future extensions may need to reconsider the ￡300,000 threshold to ensure continued effectiveness in boosting homeownership and housing supply.

Contact: Michael Woda, Lee Riley, Mitchell Dring, Bradley Hellier, Michael Cartmill, Ethan Lewis

Featured:

GKR International is currently recruiting for a Sales Valuer role with Bridges Properties in West Lothian. This opportunity is ideal for experienced professionals with a strong background in property valuations and a passion for providing exceptional service in the West Lothian market. Candidates should have a proven track record and be ready to make an impact in a dynamic and growing team.

GKR International has partnered with Galbraith, and we are currently recruiting for a Sales Valuer position in Kelso. This role is perfect for individuals with expertise in property valuations and a desire to work in a prestigious and established firm. Galbraith Group offers a supportive and professional environment, ideal for those looking to further their career in a prominent real estate brand.

Property Management

The government has implemented significant changes to tenancy laws in New Zealand, which took effect on January 30, 2025. These new rules aim to strike a balance between the rights of property investors and tenants. Notable changes include the reinstatement of "no cause" terminations, allowing landlords to give 90 days' notice to tenants without providing a reason. Additionally, tenants now only need to give 3 weeks' notice when vacating a property, a reduction from the previous 4 weeks. Fixed-term contracts will no longer automatically roll into periodic tenancies, and landlords can give notice to tenants at the end of a fixed-term lease without needing a reason. Another significant shift is that property investors will soon be required to allow pets, although they can charge a pet bond to cover potential damages. While these changes provide landlords with more flexibility and control, they also ensure tenants’ rights are protected, signaling a more balanced future for New Zealand's rental market.

Building Engines , a 仲量联行 company, in collaboration with the Building Owners and Managers Association International ( BOMA International ), surveyed over 370 commercial real estate professionals to explore the future of property management technology. The resulting report highlights key trends shaping the sector, including increased investment in technology, the impact of AI and data analytics on operations, and innovative solutions for enhancing tenant engagement and achieving sustainability goals. It also addresses the challenges of adopting energy-efficient technologies within commercial real estate. The report offers valuable insights for professionals looking to stay ahead in the rapidly evolving proptech landscape.

Spain's real estate market is evolving with the rapid growth of the "living" sector, including build-to-rent (BTR), flex living, coliving, and senior living models, driven by changing demographic and social trends. By Q3 2024, investment in this sector reached €2.5 billion, accounting for 31% of the total real estate investment. BTR developments, offering fully serviced rental homes with amenities like coworking spaces and gyms, have gained momentum, while flex living caters to mobile professionals and digital nomads. Sustainability and technology, including energy-efficient solutions and smart home systems, are central to the sector’s growth, alongside the rising demand for senior living models in cities like Málaga and Valencia. Additionally, the conversion of office spaces into residential properties is addressing housing shortages in urban areas. With a focus on flexibility, sustainability, and innovation, the living sector is poised for continued expansion, particularly in medium-sized cities.

Contact: Michael Woda , Rose Lock, Emma Bradshaw

Business Support

Coralytics AI , a UAE-based AI marketing platform for real estate, has announced a strategic partnership with Chestertons Global , a prestigious real estate network with offices in 21 countries. This collaboration aims to enhance property marketing through AI-driven tools, improving listing quality, streamlining operations, and boosting lead conversion. By integrating Coralytics’ AI technology, Chestertons Global will optimise its marketing strategies, reduce administrative tasks for agents, and provide clients with enhanced digital experiences, including virtual staging and AI-powered 3D floor plans. The partnership highlights the growing adoption of AI in real estate, reinforcing both brands' commitment to innovation and efficiency.

Estate agencies in 2025 face rising client expectations, increased competition, and a growing reliance on digital tools, making CRM software essential for success. A robust CRM streamlines lead management, automates tasks, enhances client retention, and provides valuable insights to drive efficiency and growth. With features like workflow automation, mobile accessibility, and seamless integrations, solutions like Rex Software enable estate agents to stay ahead in a rapidly evolving market. Choosing the right CRM ensures improved performance, stronger client relationships, and a competitive edge in the property sector.

Contact: Anuradha Deb, Peter Wallis, Michael Woda

What’s the most underrated soft-skill in the workplace?

1. Adaptability ?? (37%)
2. Communication ?? (37%)
3. Critical Thinking ?? (15%)
4. Leadership ?? (11%)

It’s interesting to see that Adaptability and Communication each garnered 37% of the votes in the pol this week, highlighting how these two skills are increasingly recognised as crucial in today's fast-paced work environments. Adaptability is essential for navigating change and uncertainty, which are common in industries like real estate, where the market is always evolving. On the other hand, Communication is the backbone of effective collaboration and client relationship management—both of which are vital in recruitment.

Critical Thinking at 15% and Leadership at 11% still have their place, but it’s clear that the majority of respondents see adaptability and communication as the cornerstones of success in the workplace.

These skills are valuable in maintaining strong relationships with clients and candidates, while also adapting to new tools and technology; contact our team if you are interested to know more!

Built Environment

New data from the British Property Federation (BPF) reveals a 35% rise in Build to Rent planning consents over the past year, with London leading for the first time since 2022. Despite this growth, construction output has lagged, with new starts down 18% since Q4 2023, and London experiencing a sharper decline (22%) than the regions (16%). However, a surge in planning approvals, particularly in London, suggests a potential market rebound, with investor confidence slowly returning. Investment in UK Build to Rent reached a record ￡5bn in 2024, driven by strong Q4 activity and significant foreign capital, particularly from North America. While challenges in construction persist, the sector is poised to play a crucial role in housing delivery, as it is less dependent on future sales absorption.

Hungary’s largest residential developer, Cordia Homes, plans to expand its Budapest building programme by 1,000 units next year to address rising demand and a housing shortage. This expansion will add 120,000 sq m of residential space to a market where supply fell to just 6,000 homes last year, below demand. With over 11,000 apartments completed across Hungary, Romania, and Poland in the past 20 years, Cordia is currently developing 4,500 more across 19 projects and has a pipeline of 11,200 additional homes.

Legal & General has completed New Acres, one of the UK’s largest Build to Rent developments, featuring 1,034 homes across 18 blocks in Wandsworth, south London, with 35% designated as affordable housing. This project is part of L&G’s broader vision to create modern, consumer-focused communities, incorporating over 50,000 square feet of commercial space to support a vibrant local environment. Aiming to address the national housing crisis and supply-demand imbalance, L&G sees Build to Rent as essential for delivering new homes and enhancing social outcomes. With over ￡3 billion invested since 2016, including a new partnership with UK pension scheme Nest to build a ￡1 billion portfolio, L&G continues to focus on long-term rental growth and income security for investors.

Contact: Mitchell Dring , Julian Murray, Peter Wallis

Commercial Real Estate

Colliers International Japan K.K. (President: Yukihiro Ogasawara, Head Office: Chiyoda-ku, Tokyo, NASDAQ and TSX: CIGI) has announced the launch of a new "Consulting Advisory" division, effective February 1, 2025, to help owners and investors maximize real estate value. The division will offer services such as positioning reports, risk factor identification, and regular delivery of DX-based market data to support informed decision-making in the rental office market. By leveraging advanced data analysis and visualizing real estate competitiveness, the division aims to enhance performance and long-term asset value for clients, contributing to the broader real estate industry's growth.

International Workplace Group plc (IWG), the world’s largest provider of hybrid working solutions, is expanding its presence in Colorado with the addition of eight new state-of-the-art flexible workspaces, bringing its total locations in the state to 49. The new centers, set to open between Q1 and Q2 2025, will cater to a wide range of industries, including bioscience, technology, financial services, and more, offering tailored office solutions through IWG’s "Design Your Own Office" service. This expansion reflects the continued rise in hybrid working adoption, as well as the company’s record global growth. With flexible office space increasingly in demand, particularly in suburban and urban areas, IWG aims to provide high-quality workspaces close to employees' homes, supporting Colorado’s transition to a "15-minute" city. These openings also align with IWG's strategic goal to capitalize on the growing market for flexible workspaces, which is expected to constitute 30% of all commercial real estate by 2030.

CIFF Guangzhou 2025, following the success of its March 2024 edition, will showcase an even more innovative chapter in the global furniture industry, with the Office and Commercial Space sector set to redefine the future of workplace environments. Taking place from March 28-31, 2025, during the second phase of the 55th edition, the exhibition will span over 240,000 square meters across 24 halls at the Canton Fair Complex. As the global office furniture market grows, projected to reach $99.3 billion by 2029, CIFF Guangzhou 2025 will feature cutting-edge solutions across three key sectors: Office Environment, Office Seating, and Public Commercial Space, with a strong focus on sustainability and smart technologies. The event will highlight advancements in ergonomic office seating, integrated commercial space solutions, and more, offering an unparalleled platform for industry professionals worldwide.

Contact: Peter Wallis , Lee Riley, Rose Lock

Investment, Finance & Accountancy

开云 and Ardian have signed a binding investment agreement for a portfolio of three prestigious properties in Paris, including the H?tel de Nocé at 26 place Vend?me and two buildings on avenue Montaigne. The partnership will form a joint venture, with Ardian holding a 60% stake and Kering retaining 40%. This move aligns with Kering's strategy to secure prime locations in luxury districts globally. For Ardian, it represents a unique opportunity to expand its real estate presence in Paris. The deal is expected to close in Q1 2025, pending final conditions.

Saudi Arabia's recent policy shift allows foreign investment in companies listed on its stock market that own real estate in Mecca and Medina. This change, effective immediately, is part of the country's broader Vision 2030 initiative to diversify its economy and attract international capital, particularly for sectors such as tourism and technology. Foreign investors can now purchase shares and convertible debt instruments of listed companies, with ownership capped at 49%. This move is intended to boost the capital market, increase its competitiveness, and support the kingdom's ambitious goals for religious tourism, such as expanding the number of pilgrims to 30 million annually by 2030. Following the announcement, shares of companies like Jabal Omar Development and Makkah Construction surged, indicating positive investor sentiment. However, the policy does not affect the ban on non-Muslims entering religious sites in Mecca and Medina.

The UK real estate market is showing signs of recovery following a sharp 25% decline in capital values from June 2022 to June 2024, with a cyclical buying opportunity now emerging, especially in the industrial, retail, and residential sectors. Although office values remain under downward pressure, there has been a slight improvement driven by yield compression and rental growth. Despite economic challenges, such as slower GDP growth and inflationary concerns, rental growth is expected to continue in demand-driven sectors, and opportunities in high-quality, well-located properties remain. Investors are advised to capitalise on mispriced opportunities and consider alternative real estate segments like self-storage and social infrastructure, which offer inflation-linked cashflows and long-term resilience.

Contact: Anuradha Deb , Lee Riley, Emma Bradshaw

In partnership with Druce:

@Druce, a name synonymous with luxury real estate since 1822, aims to expand its presence across multiple territories London, partnering exclusively with GKR International - Real Estate Talent Specialists, to bring top-tier talent into the business. Contact our team to discuss your interest in joining Druce's reputable team.

Email: [email protected]

Website: www.gkrinternational.com/clients/druce-careers

Contact: Lee Riley, Grant Kaveney

GKR News:

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Contact our team on 0207 048 3304 or email us at [email protected] to find out what other opportunities we are recruiting for.

If you are looking for talent for your team, we would love to hear from you.

GKR International offers up to ￡250* cash per successful referral if you know any friends/colleagues/family looking for a new career opportunity within the property sector.