THE WORLD PROPERTY JOURNAL

A Digital Newspaper for the Global Real Estate Industry

51 Million Americans to Travel This Thanksgiving Weekend, Most in 12 Years

51 Million Americans to Travel This Thanksgiving Weekend, Most in 12 Years

The American Automobile Association (AAA) is estimating that 50.9 million Americans will journey 50 miles or more away from home this Thanksgiving, a 3.3 percent increase over last year. Read More »


U.S. Home Sales Uptick 2.0 Percent in October

U.S. Home Sales Uptick 2.0 Percent in October

According to the National Association of Realtors, existing-home sales in the U.S. increased in October 2017 to their strongest pace since earlier this summer, but continual supply shortages led to fewer closings on an annual basis for the second straight month. Read More »

U.S. Housing Starts Up Sharply, Near Post Market Crash Highs

U.S. Housing Starts Up Sharply, Near Post Market Crash Highs

Nationwide U.S. housing starts rose 13.7 percent in October 2017 to a seasonally adjusted annual rate of 1.29 million units after a slight upward revision to the September reading. Read More »

New Jersey Office Market Rents Approaching Record Highs

New Jersey Office Market Rents Approaching Record Highs

According to Transwestern's Third-Quarter 2017 Office Market Report, after decades of stagnation, asking rents for office space in New Jersey are steadily rising and nearing an all-time high. 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 November 22, 2017 8:50 AM ET

North America

The American Automobile Association (AAA) is estimating that 50.9 million Americans will journey 50 miles or more away from home this Thanksgiving, a 3.3 percent increase over last year.

According to the National Association of Realtors, existing-home sales in the U.S. increased in October 2017 to their strongest pace since earlier this summer, but continual supply shortages led to fewer closings on an annual basis for the second straight month.

Nationwide U.S. housing starts rose 13.7 percent in October 2017 to a seasonally adjusted annual rate of 1.29 million units after a slight upward revision to the September reading.

According to Transwestern's Third-Quarter 2017 Office Market Report, after decades of stagnation, asking rents for office space in New Jersey are steadily rising and nearing an all-time high.

California's home sales lost momentum in October 2017 to post the first back-to-back annual sales decline in more than a year as a stubbornly low supply of available homes for sale continued to plague the market.

The retail industry of 2030 will provide tailored experiences for individual customers across any channel, at any place and at any time using data analytics and new technology. These changes will have a profound impact on the global retail property sector as well.

Last Updated September 29, 2017 9:03 AM ET

Latin America

The recent 7.1 magnitude earthquake that stunned Mexico City (and surrounding states of Mexico, Morelos and Puebla) is now having a strong impact on Mexico's commercial real estate market.

Billionaire real estate developer and U.S. President Donald Trump, who once considered building luxury hotels in Cuba, is getting set to swing a sky-high verbal crane over the tiny Communist-governed nation.

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.

Last Updated October 31, 2017 8:00 AM ET

Europe

According to JLL, industrial lease deals in Ireland during Q3, 2017 totaled 407,904 sq. ft across 33 deals. This is a decrease of 42% in the quarter, and a 55% decrease compared to Q3 2016.

Global real estate adviser Knight Frank's newly appointed European Capital Markets Board are optimistic for the future of the European real estate markets

According to a report by real estate consultant JLL and The Business of Cities, London, New York, Paris, Singapore, Tokyo, Hong Kong and Seoul are among the seven most competitive cities in the world.

According to JLL, over $1.5 billion of Irish commercial properties have traded so far in 2017. While this is lower than 2016, last year was an exceptional year.

Office rents in London's skyscrapers are the highest in Europe as companies continue to pay a premium for space in the city's tallest buildings.

29 percent of real estate professionals are now feeling optimistic about UK's commercial real estate market.

Last Updated November 15, 2017 9:02 AM ET

Asia Pacific

Hong Kong led the Asia Pacific region by volume of hotel investment transactions, with 11 deals worth a total of nearly $1.5 billion in the year to September 2017.

2017 is shaping up to be a year like no other. But commercial real estate continues to successfully navigate this uncharted territory.

According to new research from JLL, property technology - or PropTech - start-ups in Asia Pacific are outpacing their counterparts in Europe and the United States with 179 of them raising around $4.8 billion in funding since 2013.

According to JLL's latest monthly Property Market Monitor released this past week, new office lettings in Central Hong Kong surged 47% month-over-month in September 2017.

Outbound Japanese real estate investment rises 23% year-over-year to $1.3 billion, development investment activity was also brisk, and indirect property investment via funds is set to increase in the coming year.

Hong Kong is once again the world's highest-priced office market according to CBRE's semi-annual Global Prime Office Rents survey.

Last Updated November 8, 2017 8:00 AM ET

Middle East and Africa Pacific

With positive government interventions to bring in more investors and diversify Bahrain's real estate market, retail remains a significant area of growth in the Kingdom's property sector.

Oman's GDP growth is expected to rise to 5.2% next year, aided by the introduction of natural gas production at the Khazzan gas field and the opening of the new airport in Muscat.

According to the latest property report from Cluttons, as the UAE government pioneers fiscal adjustment in the region in response to declining oil prices, milestones such as Expo 2020 and the introduction of VAT will play a key role in boosting the country's property market.

The recently announced Emirates Towers Business Park is set to become Dubai's most defining commercial development in over 10 years.

Dubai's vision to diversify its economy further and establish itself as a thriving global business hub has accelerated business activity in a number of innovative industries, in turn spurring a new stream of demand for industrial space.

According to the National Association of Realtors, existing-home sales rebounded in May following a notable decline in April, and low inventory levels helped propel the median sales price to a new high.


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