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THE WORLD PROPERTY JOURNAL

A Digital Newspaper for the Global Real Estate Industry

U.S. Mortgage Rates Increase After 5 Weeks of Declines

U.S. Mortgage Rates Increase After 5 Weeks of Declines

According to Freddie Mac's latest Primary Mortgage Market Survey (PMMS), the average U.S. mortgage rate rose for the first time in five weeks in late April 2017. Read More »


Global Retail Construction Rises, China and Mexico Lead the Way

Global Retail Construction Rises, China and Mexico Lead the Way

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

Pending Home Sales in U.S. Dip in March

Pending Home Sales in U.S. Dip in March

According to according to the National Association of Realtors, U.S. pending home sales in March 2017 maintained their recent high level, but momentum slackened slightly in most of the country as dearth supply weighed on activity. Read More »

New York City's Retail Sector Facing Market Headwinds in Early 2017

New York City's Retail Sector Facing Market Headwinds in Early 2017

Global real estate consultant CBRE's new released Manhattan Retail MarketView for Q-1 is now reporting that New York City retail sector fundamentals and demand drivers remain strong, yet still face market headwinds in early 2017. 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 April 28, 2017 9:00 AM ET

North America

According to Freddie Mac's latest Primary Mortgage Market Survey (PMMS), the average U.S. mortgage rate rose for the first time in five weeks in late April 2017.

According to according to the National Association of Realtors, U.S. pending home sales in March 2017 maintained their recent high level, but momentum slackened slightly in most of the country as dearth supply weighed on activity.

Global real estate consultant CBRE's new released Manhattan Retail MarketView for Q-1 is now reporting that New York City retail sector fundamentals and demand drivers remain strong, yet still face market headwinds in early 2017.

The National Association of Home Builders' Remodeling Market Index (RMI) rose to 58 in the first quarter of 2017, an increase of five points from the fourth quarter of 2016 and the highest reading since 2015.

According to the National Association of Realtors, existing-home sales took off in March 2017 to their highest pace in over 10 years, and severe supply shortages resulted in the typical home coming off the market significantly faster than in February and a year ago.

Residential rents across the country rose 0.7 percent from last March 2016, the slowest rate of appreciation since November 2012.

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 April 21, 2017 8:06 AM ET

Europe

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%.

According to JLL, just over $500 million of Irish property has traded in the first 3 months of 2017. Volumes were boosted by a few large transactions, with one deal greater than $106 million.

The depreciation of the pound, coupled with a slight drop in capital values, has led UK commercial real estate to be discounted by 16% on average by overseas capital.

According to global real estate consultant Knight Frank, fears that London is set to lose swathes of bank jobs now look overblown, but finance has been shrinking in importance for the capital's economy and property market for some time.

Last Updated April 28, 2017 8:30 AM ET

Asia Pacific

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.

The Council on Tall Buildings and Urban Habitat (CTBUH) is pleased to announce that Ping An Finance Center is officially complete according to CTBUH criteria.

Hong Kong is the world's highest-priced office market while European office markets showed the most consistent growth in prime office rent, mostly due to a lack of supply. Belfast (up 25 percent year-over-year) led the way among the 121 cities surveyed.

Asia Pacific real estate investors will be motivated by fundamental investment objectives, including favorable yield spreads and adopting higher risk/return strategies.

Despite office leasing activity slowing around the lunar New Year holidays, the Grade-A office market still recorded a number of notable transactions in January 2017.

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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