THE WORLD PROPERTY JOURNAL

A Digital Newspaper for the Global Real Estate Industry

Technology Forcing Asia's Commercial Markets to Undergo Significant Change

Technology Forcing Asia's Commercial Markets to Undergo Significant Change

According to CBRE's 2018 Asia Pacific Real Estate Market Outlook Report, Asia Pacific's commercial real estate market will be increasingly defined by changing business conditions, the growing influence of technological innovation. Read More »


U.S. Builder Confidence Remains Strong in February

U.S. Builder Confidence Remains Strong in February

U.S. builder confidence in the market for newly-built single-family homes remained unchanged at a healthy 72 level in February 2018 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Read More »

New York City Enjoys Record $50 Billion of Residential Sales in 2017

New York City Enjoys Record $50 Billion of Residential Sales in 2017

New York City's residential real estate market rounded out a year of healthy home sales activity with a record $50 billion in transactions completed in 2017. Read More »

Lack of Inventory Slows Greater Miami Home Sales

Lack of Inventory Slows Greater Miami Home Sales

According to the Miami Association of Realtors, Miami recorded the fifth-most annual single-family home sales in county history in 2017 as total dollar volume and median prices rose at year-end and in 4Q 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 February 16, 2018 8:04 AM ET

North America

U.S. builder confidence in the market for newly-built single-family homes remained unchanged at a healthy 72 level in February 2018 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).

New York City's residential real estate market rounded out a year of healthy home sales activity with a record $50 billion in transactions completed in 2017.

According to the Miami Association of Realtors, Miami recorded the fifth-most annual single-family home sales in county history in 2017 as total dollar volume and median prices rose at year-end and in 4Q 2017.

According to Realtors, an uptick in existing U.S. home sales in the final three months of 2017 pulled down housing inventory to an all-time low, while keeping home-price growth at its recent robust pace.

According to the California Association of Realtors, after hitting a 10-year low in third-quarter 2017, slightly lower home prices and steady mortgage rates allowed more Californians to purchase a home in the fourth quarter of 2017.

The U.S. office market's nationwide December 2017 vacancy rate of 11.5 percent was the lowest reported in 10 years.

Last Updated January 11, 2018 8:35 AM ET

Latin America

According to InternationalLiving.com's 2018 Global Retirement Index, Costa Rica takes the top spot for the first time in the index's history.

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.

Last Updated February 5, 2018 12:06 PM ET

Europe

According to Ireland property website Daft.ie, searches for properties that qualify for the new government-backed mortgages surged by over 9% last week following the Government announcement of the scheme.

According to JLL, Moscow office take-up was recorded at 508,000 square meters in Q4 2017, a record high since the beginning of 2013.

According to global real estae consultant JLL, €2.3 billion ($2.8 billion USD) of Irish investment property traded during the year 2017.

Brits will not be deterred by the weaker pound and Brexit negotiations and will continue to buy properties in France over the course of 2018, thanks to the positive tax reforms and their desire to secure a property before the Brexit deadline.

According to the latest House Price Report released today by Ireland property portal Daft.ie, home prices across Ireland nationally rose by more than €20,000 ($24000 USD) on average during 2017.

According to Chinese international property portal Juwai.com, the post-Brexit referendum boom in Chinese property buying inquiries still persists, even 18 months after the vote on June 23, 2016.

Last Updated February 16, 2018 9:02 AM ET

Asia Pacific

According to CBRE's 2018 Asia Pacific Real Estate Market Outlook Report, Asia Pacific's commercial real estate market will be increasingly defined by changing business conditions, the growing influence of technological innovation.

According to a new report by JLL titled "Bridging the Housing Gap", millennials in Asia are now sharing more than work spaces and transport. They have turned to living together in a new form of shared housing where residents have common interests and lifestyles.

According to CBRE's newly released 2018 Japan Real Estate Market Outlook, due to a new supply of Class A office space coming on the market, rental rates in Tokyo will see a correction in 2018.

Hong Kong's housing market continued to reach new heights in December, capping off a year that saw capital values advance at their fastest pace in five years. Capital values of mass residential properties increased by 1.3% m-o-m in December to lift full-year growth to 15.8 percent.

Technology advances in areas such as big data analytics, machine learning and artificial intelligence are transforming industries across the globe, providing insights and opportunities for those in the vanguard, while technology laggards risk becoming obsolete.

According to JLL's latest Property Market Monitor released this week, net take-up in Hong Kong's overall office market amounted to 68,800 sq. ft in November 2017, with average monthly rent reaching HKD 71.7 per sq. ft -- 0.3% higher than in October 2017.

Last Updated February 13, 2018 8:00 AM ET

Middle East and Africa Pacific

According to STR, hotels in the Middle East reported negative 2017 performance results, while hotels in Africa posted growth across the three key performance metrics.

According to property portal Bayut, Al Reem Island is the most in-demand area among Abu Dhabi tenants this year with studios, 1-beds and 2-beds commanding AED 60k, 82k and 120k, respectively, (14% decline from 2016).

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.


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