THE WORLD PROPERTY JOURNAL

A Digital Newspaper for the Global Real Estate Industry

Home Builder Confidence in U.S. Continues to Uptick in May

Home Builder Confidence in U.S. Continues to Uptick in May

According to the National Association of Home Builders, in a further sign that the U.S. housing market continues to strengthen, home builder confidence in the market for newly-built single-family homes rose two points in May. Read More »


Residential Rents Growing Faster in Suburbs than Urban Areas in U.S.

Residential Rents Growing Faster in Suburbs than Urban Areas in U.S.

Renters are starting to look for cheaper housing options outside downtown cores, prompting rent payments to rise faster in the suburbs than in urban areas. Read More »

2017 Home Sales Poised to Climb 3.5 Percent in U.S.

2017 Home Sales Poised to Climb 3.5 Percent in U.S.

The multi-year stretch of robust job gains along with improving household confidence are expected to guide existing-home sales to a decade high in 2017. Read More »

Despite Hype Of Closures, Many U.S. Retailers Expanding in 2017

Despite Hype Of Closures, Many U.S. Retailers Expanding in 2017

Despite breathless media headlines about various big-box retailers closing stores, others in that category are opening hundreds of stores. 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 May 22, 2017 9:00 AM ET

North America

According to the National Association of Home Builders, in a further sign that the U.S. housing market continues to strengthen, home builder confidence in the market for newly-built single-family homes rose two points in May.

Renters are starting to look for cheaper housing options outside downtown cores, prompting rent payments to rise faster in the suburbs than in urban areas.

The multi-year stretch of robust job gains along with improving household confidence are expected to guide existing-home sales to a decade high in 2017.

Despite breathless media headlines about various big-box retailers closing stores, others in that category are opening hundreds of stores.

According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed mortgage rate remained around four percent for the fifth consecutive week in mid-May 2017.

According to the U.S. Department of Housing and Urban Development and the Commerce Department, led by a decline in multifamily production, nationwide housing starts fell 2.6 percent in April.

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 May 18, 2017 8:59 AM ET

Europe

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.

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.

Last Updated May 12, 2017 9:00 AM ET

Asia Pacific

This week the South Korean National Election Commission announced that Democratic Party candidate Moon Jae-in had been elected as the new President.

The new measure imposing the 15% stamp duty on all residential transactions in Hong Kong involving first-time buyers purchasing multiple properties under a single instrument is unlikely to have a significant impact to market dynamics.

According to JLL's newly released report titled Financing China's Real Estate: Pragmatism and Creativity Will Prevail, China's rapid-developing real estate finance sector stands at a crossroads.

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.

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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