THE WORLD PROPERTY JOURNAL

A Digital Newspaper for the Global Real Estate Industry

Yield Spreads Are Main Focus of Asia Pacific Property Investors

Yield Spreads Are Main Focus of Asia Pacific Property Investors

CBRE is reporting that investors in Asia Pacific real estate in 2017 remain heavily focused on yield spreads when seeking assets as investment intentions, and are moving further away from capital appreciation strategies. Read More »


Despite Political Uncertainty, U.S. Mortgage Rates Stay Low

Despite Political Uncertainty, U.S. Mortgage Rates Stay Low

According to Freddie Mac's latest Primary Mortgage Market Survey for June 2017, the average U.S. mortgage rate continuing to hold at year-to-date lows amidst ongoing economic uncertainty. Read More »

Miami Home Sales Enjoy Best May in History

Miami Home Sales Enjoy Best May in History

According to the Miami Association of Realtors, May 2017 saw 1,344 single-family home sales in the greater Miami area, the most in any May in Miami real estate history, and a 9.9 percent jump from the 1,223 homes sold a year ago. Read More »

Mortgage Applications Increase in U.S. in June

Mortgage Applications Increase in U.S. in June

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 16, 2017, mortgage applications in the U.S. increased 0.6 percent from one week earlier. 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 June 23, 2017 8:00 AM ET

North America

According to Freddie Mac's latest Primary Mortgage Market Survey for June 2017, the average U.S. mortgage rate continuing to hold at year-to-date lows amidst ongoing economic uncertainty.

According to the Miami Association of Realtors, May 2017 saw 1,344 single-family home sales in the greater Miami area, the most in any May in Miami real estate history, and a 9.9 percent jump from the 1,223 homes sold a year ago.

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 16, 2017, mortgage applications in the U.S. increased 0.6 percent from one week earlier.

CoreLogic's Q1 2017 CoreLogic Housing Credit Index is now reporting a relative increase in credit risk for new home loan originations in the U.S. compared to prior periods.

According to the Mortgage Bankers Association, U.S. mortgage credit availability decreased in May 2017. The Mortgage Credit Availability Index (MCAI) decreased 1.1 percent to 181.0 in May.

Led by a decline in multifamily production, nationwide housing starts fell 5.5 percent in May to a seasonally adjusted annual rate of 1.09 million units. Multifamily starts fell 9.7 percent to a seasonally adjusted annual rate of 289,000 units.

Last Updated June 2, 2017 9:00 AM ET

Latin America

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.

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.

Last Updated June 9, 2017 1:00 PM ET

Europe

On the heels of a failed snap election in an effort to build a bigger majority and a personal mandate, Theresa May, the British Prime Minister, now faces the though job of trying to forge a coalition deal to stay in power.

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.

Last Updated June 23, 2017 9:00 AM ET

Asia Pacific

CBRE is reporting that investors in Asia Pacific real estate in 2017 remain heavily focused on yield spreads when seeking assets as investment intentions, and are moving further away from capital appreciation strategies.

According to CBRE Research's latest annual Global Prime Office Occupancy Costs report, Hong Kong (Central) and London's West End topped the list of prime office occupancy costs again.

According to JLL's latest Land and Residential Market Review, Hong Kong residential prices are now as much as 75.9% higher than the market peak in 1997 after the city was handed back to China twenty years ago.

Hong Kong Monetary Authority's (HKMA) two-way squeeze to control an overheating property market is unlikely to have any material effect on still-upbeat sentiment for residential properties in Hong Kong.

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.

Last Updated June 21, 2017 12:08 PM ET

Middle East and Africa Pacific

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.

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.

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