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THE WORLD PROPERTY JOURNAL

A Digital Newspaper for the Global Real Estate Industry

Hong Kong Residential Prices Forecasted to Rise 5 Percent in 2017

Hong Kong Residential Prices Forecasted to Rise 5 Percent in 2017

According to JLL's Year-end Hong Kong Residential and Land Market Review 2016, notwithstanding the latest stamp duty measure, residential prices are expected to rise up to 5% next year. Read More »


U.S. Mortgage Rates Continue to Climb

U.S. Mortgage Rates Continue to Climb

According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. fixed mortgage rate moved higher for the fifth consecutive week in late November 2016. The 10-year Treasury yield remained flat despite an upward revision to third quarter GDP. Read More »

Trump Election Victory Creating Property Market Uncertainty in Middle East

Trump Election Victory Creating Property Market Uncertainty in Middle East

The recent election of Donald Trump as the 45th president of the United States of America is set to cause further uncertainty for the Middle East's real estate market, at least in the short term. Read More »

Pending Home Sales in U.S. Remain Flat in October

Pending Home Sales in U.S. Remain Flat in October

According to the National Association of Realtors, U.S. pending home sales were mostly unchanged in October 2016, but did squeak out a meager gain for the second consecutive month. Read More »


Global Property Spotlight

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

In the heart of breathtaking Paradise Island adjacent to Nassau, Bahamas, a very rare residential opportunity will soon be available. Opportunities like this are extremely limited on this 685 acre island paradise. Read More »


Regional Real Estate News

Last Updated December 2, 2016 8:00 AM ET

North America

According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. fixed mortgage rate moved higher for the fifth consecutive week in late November 2016. The 10-year Treasury yield remained flat despite an upward revision to third quarter GDP.

According to the National Association of Realtors, U.S. pending home sales were mostly unchanged in October 2016, but did squeak out a meager gain for the second consecutive month.

According to Realtor.com's newly released U.S. housing market forecast for the coming year, the housing sector will be a year of slowing (but moderate growth) in 2017.

According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. fixed mortgage rate moved higher with the average 30-year fixed-rate mortgage topping 4 percent for the first time since 2015.

According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in the U.S. fell 1.9 percent in October 2016

According to AAA, over 48.7 million Americans will journey 50 miles or more from home this Thanksgiving holiday, an increase of one million travelers compared with last year.

Last Updated November 25, 2016 10:00 AM ET

Latin America

Cuban President Raul Castro has confronted U.S. President-Elect Donald J. Trump's hardball pitch to possibly break up President Obama's one year-old detente with the Communist island nation with a hardball gesture of his own.

According to InternationalLiving.com, there has been a 160% surge in online searches for terms like "move overseas" and "expats overseas" post Trump election victory this week.

U.S. home builders just completed four days of talks with Chilean government, trade and industry officials that are geared toward increasing exports of softwood lumber and other wood products to America.

According to STR, hotels in the Central and South America regions recorded mixed results in the three key performance metrics when reported in U.S. dollar constant currency during July 2016.

According to STR, hotels in Central and South America recorded mixed Q2, 2016 results when reported in U.S. dollar constant currency.

According to STR's June 2016 Pipeline Report for Central and South America, over 66,352 hotel rooms in 417 projects Under Contract in the Central/South America region.

Last Updated November 29, 2016 8:00 AM ET

Europe

According to Ireland property website Daft.ie, the bulk of new properties currently available that qualify for the Governments first-time buyers scheme are located in Dublin and Dublin's commuter counties.

According to JLL, the vacancy rate in main Moscow high-street corridors dropped by 2.8 pp to 10.2% in Q3 2016. Myasnitskaya Street and Patriarshie Prudy stayed at the top.

According to Knight Frank's Q3 Paris Office Market Outlook Report, office take-up in Paris is expected to exceed the long term average as occupier activity remains strong despite Brexit uncertainty.

Central London developer LBS Properties is now underway with work at The Madison, a striking new residential scheme comprising a 53 story landmark tower.

Irish real estate firms like JLL broadly welcome the business and property-related measures announced in Ireland's budget this past week.

A new international measurement standard which will offer more clarity and consistency to users of residential property services.

Last Updated December 2, 2016 9:00 AM ET

Asia Pacific

According to JLL's Year-end Hong Kong Residential and Land Market Review 2016, notwithstanding the latest stamp duty measure, residential prices are expected to rise up to 5% next year.

China's new Shanghai Tower was just named the "Best Tall Building Worldwide" by the Council on Tall Buildings and Urban Habitat (CTBUH) this past week.

According to global hotel consultant STR, Japan's hotel industry has benefited substantially from the devaluation of the Japanese yen.

According to CBRE's Q3 2016 MarketView data for the Asia Pacific region, overall property investment turnover during Q3 picked up slightly with an increase in transaction volume of 5.6% quarter-on-quarter to $24.6 billion.

This past week China's economy posted 6.7% y-o-y GDP growth in Q3 2016, on par with H1 2016 levels.

According to new research from CBRE Group, Asian investment in global commercial real estate is on track to set a new record in 2016, with the Americas the leading target region.

Last Updated December 1, 2016 9:00 AM ET

Middle East and Africa Pacific

The recent election of Donald Trump as the 45th president of the United States of America is set to cause further uncertainty for the Middle East's real estate market, at least in the short term.

Dubai's average residential property value is down 7.4% during the past twelve months, but rate of decline is expected to slow heading into 2017 before reaching a new base towards the end of next year.

Abu Dhabi's largest property developer announced this week that it has awarded the early works package, valued at AED 155 million ($42m USD), for its flagship golf and waterfront development

UAE property portal Bayut.com is reporting this week that affordability remained the center of discussions at the recently concluded Cityscape Global real estate exhibition in Dubai.

According to CBRE Group, Middle East investment in the global commercial real estate sector reached nearly $10 billion in the first half of 2016.

The impact of the softening global economy continues to hamper the UAE's office market as redundancies in the oil and gas, finance and banking sectors have stifled demand for office space across the emirates.

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