Pound Declines on the Lowest Home Sales

The Great Britain pound continued to fall today against the other major currencies after reaching the all-time low against the euro as the home sales report showed the lowest level in the last 30 years.

The Royal Institution of Chartered Surveyors released its October issue of the U.K. real estate market survey. It showed that the quarterly number of completed sales per surveyor (real-estate agent) fell to the record low — 10.9 homes. It’s the lowest level since the RICS began to conduct these surveys in 1978.

Pound is still trading in the strong downward trend against the current Forex favorites — the U.S. dollar and the Japanese yen. The trend against the euro is less distinctive, but the pound is losing to its younger counterpart in the long-term. The traders expect the new rate cuts from the Bank of England, which is more tolerant to the lower interest rates than the European Central Bank.

GBP/USD fell from 1.5626 to 1.5586 as of 8:47 GMT today. GBP/JPY declined from 153.11 to 152.21, while EUR/GBP rose from 0.8160 to 0.8177 today after reaching 0.8210 yesterday — the highest level since the euro’s inception.

WING presents new sustainable office building

Hungary - WING Ltd. introduced its new sustainable office building named k3. Situated in the newest business centre of the capital, with its 17,000 sqm area coverage on the Könyves Kálmán Ringroad, K3 conforms to the international regulations of BREEAM . The A-class office complex offers sustainable and cost-effective solutions to all their future tenants through its environment conscious construction techniques. K3 will open its gates officially in March 2010.

The office building K3 neighbouring Népliget is now structurally complete. As the developer WING had its first presentation on location demonstrating the range of individual solutions the building offers for companies with green ideas. The greatest advantage of the project is that it pairs up cost-effectiveness with the idea of a pleasing and healthy work environment within the framework of environmental consciousness.

The 17.000 sqm office building consists of four towers offering 2,300 sqm office space for rent on each level. The building will be completed with a three-level car park.

articel by