CEPI - European Council of Real Estate Professions

On 27 January MEPs in a joint meeting of the Economic and Monetary Affairs and the Civil Liberties Committees of the European Parliament voted in favour of the final compromise text of the fourth Anti-Money Laundering Directive (AMLD). The agreement made after trialogue negotiations between the Parliament, European Council and European Commission needs to be endorsed by the full Parliament (probably in March or April). Member States will then have two years within which to transpose the new directive into their national laws.

Figures supplied by Eurostat, the statistical office of the EU, show that house prices rose by 0.5% in the euro area and by 2.3% in the EU in the third quarter of 2014 compared with the third quarter of 2013. Compared with the second quarter of 2014, house prices rose by 0.6% in the euro area and by 1.1% in the EU in the third quarter of 2014.

On 1 January Latvia assumed, for the first time, the rotating presidency of the Council of the European Union for the next six months. CEPI welcomes the Latvian Presidency and wishes it a successful and productive term of office. The Latvian Presidency will focus on three overarching priorities which are Competitive Europe, Digital Europe and Engaged Europe.

Important progress has been made in negotiations concerning the revision of the Third Anti-Money Laundering (AML) Directive. One of the last points under discussion was the creation of central registers in EU countries listing the ultimate owners of companies. On 16 December agreement was reached between the European Parliament and the European Council on central registers and access to the information to be recorded in them. Access to such information is important for all “obliged entities” (including estate agents) who are required to comply with the terms of the directive.

According to the latest figures published by the EU’s statistical office Eurostat, in October 2014 compared with September 2014, production in construction was up by 1.3% in the euro area and by 0.4% in the EU28. In September 2014 production in construction fell by 1.0% and 0.3% respectively. In October 2014 compared with October 2013, production in construction grew by 1.4% in the euro area and by 1.5% in the EU28.