Highlights

OTHER HIGHLIGHTS The European Property Federation welcomes the new Energy Performance of Buildings Directive as a step change in the greening of the European building stock CRUCIAL DECISION FOR A BETTER RENTAL PROPERTY MARKET The Real Estate Council of the Netherlands – Raad voor Onroerende Zaken (ROZ) joins the European Property Federation ALTERNATIVE INVESTMENT FUND MANAGERS DIRECTIVE: Problems with scope and possible solutions raised at meeting with Commission REVISION OF THE INSURANCE MEDIATION DIRECTIVE: Landlords targeted. EU INITIATIVES ON LIABILITY AND INSURANCE REGIMES IN THE CONSTRUCTION SECTOR: EPF response to the Elios Report EPF ACTIVITY: 2009 Annual Report EPF EU REAL ESTATE POLICY CHART: Overview of EU Real Estate Policy and EPF activity EU ECOLABEL FOR BUILDINGS: Major problems with the Commission Ad Hoc Working Group’s 2nd draft criteria for the award of the ecolabel COUNCIL RECOMMENDATION ON SMOKE-FREE ENVIRONMENTS: No tolerance for designated smoking areas. Owner/manager responsibilities. Penalties. EU LEGISLATION ON DERIVATIVES MARKETS: Would cover real estate interest rate hedging NEW EU URBAN POLICY AND EUROPEAN PARLIAMENT INTERGROUP: New Commissioner announces new EU urban policy and 69 MEPs launch URBAN Intergroup EQUAL TREATMENT DIRECTIVE: Very badly thought out measures for the identification and elimination of barriers to accessibility for the disabled in housing and other buildings COMMISSION CONSTRUCTION POLICY INITIATIVES IMPACTING EPF: 1) Construction Competitiveness, 2) Liability and Insurance Regimes in the Construction Sector, 3) EU Construction Information Platform TREATY OF LISBON: Impacts EU real estate policy in many ways

STRICTER CRITERIA FOR PROPERTY LOANS UNDER THE CAPITAL REQUIREMENTS DIRECTIVE: EPF Position : Largely negative EPF response to the Commission Consultation The  CRD  IV  proposal  contains  a  range  of  tightening  measures  in  relation  to  mortgage  banking  activities,  e.g.  the  introduction  of  liquidity  ratios  and  a  leverage  ratio  and  new  hardware  tests.  This  will  undoubtedly  imply  considerable  restrictions  on  mortgage  lending  as  well  as  higher  financing  costs  for  retail  and  commercial  customers. In  line  with  the  European  Mortgage  Federation,  EPF’s  response  was  largely  negative  to  the  consultation  document’s  proposals  on  residential  real  estate  lending,  commercial  real  estate  lending  and  treatment  of  real  estate  lending  throughout  the  economic  cycle. EPF’s  input  to  the  Commission  can  be  freely  accessed  at  FINANCIAL  SERVICES:  Stricter  Criteria  for  Property  Loans  under  the  Capital  Requirements  Directive  (III).

© 1999 European Property Federation