THE WORLD PROPERTY JOURNAL

A Digital Newspaper for the Global Real Estate Industry

39.3 Million Americans to Travel Memorial Weekend, Most in 12 Years

39.3 Million Americans to Travel Memorial Weekend, Most in 12 Years

According to the American Automobile Association, over 39.3 million Americans will travel 50 miles or more away from home this 2017 Memorial Day weekend. Read More »


Mortgage Rates in U.S. Drop to Lowest Levels of 2017 in May

Mortgage Rates in U.S. Drop to Lowest Levels of 2017 in May

According to Freddie Mac's latest Primary Mortgage Market Survey, the average mortgage rates hitting their lowest mark of the year in Mid-May 2017. 30-year mortgage rate fell 7 basis points this week. Read More »

Miami, a Tale of Two Markets

Miami, a Tale of Two Markets

According to a new report by the Miami Association of Realtors, Miami single-family home sales, median prices, traditional transactions and dollar volume increased year-over-year in April 2017. Read More »

U.S. Home Sales Slide in April

U.S. Home Sales Slide in April

According to the National Association of Realtors, stubbornly low supply levels held down existing-home sales in April 2017 and also pushed the median number of days a home was on the market to a new low of 29 days. 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 May 26, 2017 9:00 AM ET

North America

According to the American Automobile Association, over 39.3 million Americans will travel 50 miles or more away from home this 2017 Memorial Day weekend.

According to Freddie Mac's latest Primary Mortgage Market Survey, the average mortgage rates hitting their lowest mark of the year in Mid-May 2017. 30-year mortgage rate fell 7 basis points this week.

According to a new report by the Miami Association of Realtors, Miami single-family home sales, median prices, traditional transactions and dollar volume increased year-over-year in April 2017.

According to the National Association of Realtors, stubbornly low supply levels held down existing-home sales in April 2017 and also pushed the median number of days a home was on the market to a new low of 29 days.

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. during April dropped for the first time in 2017.

Changing demographics brought forth by immigration and growing interest from foreigners are positioned to bolster home sales activity and prices.

Last Updated February 16, 2017 8:00 AM ET

Latin America

More than 33,830 rooms in 199 hotel projects are under contract in the Caribbean and Mexico. The total represents a 4.4% increase in rooms under contract compared with January 2016.

According to InternationalLiving.com's recently released 2017 Global Retirement Index, the top retirement destination in the world this year now goes to Mexico.

According to InternationalLiving.com's 2017 Global Retirement Index, Mexico gets top marks as the best place to retire based on cost of living, retiree benefits, climate, healthcare, and more.

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.

Last Updated May 23, 2017 8:08 AM ET

Europe

According to JLL, office completions in Moscow in Q1 2017 dropped to 21,143 square meters, 63% down Year-over-year. The delivery of 63,000 square meters of future office space was postponed.

The market in the Russian capital is still riding strong, gaining volume of rooms sold in most segments and rates in some. Overall, the weighted market average occupancy of the quality hotels in the Russian capital had risen 2.6 ppt.

According to the latest quarterly Rental Price Report by Ireland property website Daft.ie, residential rents in Ireland rose nationwide by an average of 13.4% in the year to March 2017.

According to international property consultant JLL, with no new shopping centres delivered to the market in Q1 2017, the vacancy rate in existing retail properties in Moscow declined from 7.5% to 7.2%.

A government-led delegation of UK investors and developers are set to visit the Middle East to strike deals with investors as they continue to plough their wealth into the UK post-Brexit.

According to global real estate advisory firm JLL, the amount of office space that has been occupied in Dublin in q1 of 2017 has totaled close to 550,000 sq. ft across a total of 40 deals. This is a steady level of take-up, and compared to the same period last year is up 11%.

Last Updated May 24, 2017 9:00 AM ET

Asia Pacific

The recent Belt & Road (B&R) Forum for International Cooperation held in Beijing was attended by numerous international leaders and organizations and discussed topics including currency swaps, policy, infrastructure and trade.

This week the South Korean National Election Commission announced that Democratic Party candidate Moon Jae-in had been elected as the new President.

The new measure imposing the 15% stamp duty on all residential transactions in Hong Kong involving first-time buyers purchasing multiple properties under a single instrument is unlikely to have a significant impact to market dynamics.

According to JLL's newly released report titled Financing China's Real Estate: Pragmatism and Creativity Will Prevail, China's rapid-developing real estate finance sector stands at a crossroads.

Developers completed more retail centers across the globe last year than in 2015, but momentum appeared to wane in many countries.

According to JLL's latest Hong Kong Residential Sales Market Report released this week, HNA Group and related companies have arguably succeeded in resetting prices in Kai Tak after snatching four residential plots.

Last Updated April 26, 2017 9:00 AM ET

Middle East and Africa Pacific

According to STR, the hotel industry in Dubai, recorded strong occupancy levels during the first quarter of 2017 despite continued and significant supply growth.

Weakening economic conditions, tapering off in demand for oil and gas, and an increase in real estate supply has led to increased pressure on the Bahrain real estate industry.

According to international real estate consultant Cluttons, values across Dubai's freehold residential areas slid by 8.8% in 2016, largely in line with Cluttons' original forecast for the year of -10%.

A slowing rate of decline across all sectors of the Dubai real estate market suggests increasing stability and the expectation of the market 'bottoming out' before the end of 2017, but the planned introduction of VAT on January 1, 2018 is already causing nervousness amongst existing commercial tenants.

There is a change in ultra high net worth individuals (UHNWI) property investment patterns, driven by political uncertainty, cooling measures and barriers affect traditional markets.

According to international real estate consultant Cluttons, the global economic anxiety and growth slowdown across regional markets has played a significant role in the decreased demand for industrial real estate in Dubai.

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