THE WORLD PROPERTY JOURNAL

A Digital Newspaper for the Global Real Estate Industry

U.S. Mortgage Rates Move Lower in Mid-July

U.S. Mortgage Rates Move Lower in Mid-July

According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. mortgage rate dropped in mid-July, after two straight weeks of increases. Read More »


Home Remodeling Index in U.S. Dips in Q2

Home Remodeling Index in U.S. Dips in Q2

The National Association of Home Builders is reporting that the NAHB's Remodeling Market Index (RMI) posted a reading of 55 in the second quarter of 2017, down three points from the first quarter of 2017. Read More »

War On Acquiring Tech Talent Driving Up Startups Office Rents

War On Acquiring Tech Talent Driving Up Startups Office Rents

Strong demand for key tech skills coupled with a tight labor supply, is driving companies to locate in markets with the largest concentrations of high-quality talent like Northern California and Manhattan. Read More »

Most Exciting Commercial Development in Dubai in 10 Years Announced

Most Exciting Commercial Development in Dubai in 10 Years Announced

The recently announced Emirates Towers Business Park is set to become Dubai's most defining commercial development in over 10 years. 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 July 21, 2017 9:00 AM ET

North America

According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. mortgage rate dropped in mid-July, after two straight weeks of increases.

The National Association of Home Builders is reporting that the NAHB's Remodeling Market Index (RMI) posted a reading of 55 in the second quarter of 2017, down three points from the first quarter of 2017.

Strong demand for key tech skills coupled with a tight labor supply, is driving companies to locate in markets with the largest concentrations of high-quality talent like Northern California and Manhattan.

Substantial increase in sales dollar volume from Canadian buyers, foreign investment in U.S. residential real estate skyrocketed to a new record-high

According to the National Association of Home Builders, U.S. builder confidence in the market for newly-built single-family homes slipped two points in July 2017 to a level of 64 from a downwardly revised June reading on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).

Local Realtors continue to gain confidence in the Southern Nevada housing market, with more than nine out of 10 expecting local home prices to keep going up in the next year.

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 July 6, 2017 9:00 AM ET

Europe

Over €770 million of Irish property was traded in the first 6 months of 2017. Although this is down from H1 2016, last year was an exceptional year.

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%.

Last Updated July 18, 2017 9:00 AM ET

Asia Pacific

Macau's gaming revenue recorded y-o-y growth for the 11th month in a row, driving A residential property market rebounded amid the robust primary sales, leading to strong price growth in some of the residential projects.

According to JLL's latest white paper - Up, Up and Away: The Rise and Rise of Hong Kong's Residential Market, JLL expects Hong Kong's housing prices to grow 15% in the coming 30 months given strong demand from owner-occupiers

According to global real estate advisor Knight Frank, office skyscrapers in Hong Kong are the most expensive commercial real estate assets in the world in 2017.

A recent survey global real estate consultant JLL found that 62% of international and local retailers have plans to open new stores in Hong Kong in 2018. It shows retailers are calling the bottom of the retail market and predicting an improvement .

Asia hotel investors during the first half of 2017 remained focused on gateway cities such as Hong Kong, Singapore, Sydney and Melbourne, as they offer positive tourism and trading fundamentals.

Small-to-medium sized developers in Hong Kong are likely to lose their competitiveness in land market.

Last Updated July 20, 2017 8:00 AM ET

Middle East and Africa Pacific

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.

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%.

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