THE WORLD PROPERTY JOURNAL

A Digital Newspaper for the Global Real Estate Industry

California Home Prices Hit Record-high in May as Sales Dip

California Home Prices Hit Record-high in May as Sales Dip

According to the California Association of Realtors, California's median home price reached a new high in May 2018, while home sales retreated both on a monthly and annual basis, wiping out most of the gains posted for the year. Read More »


Single-family Home Rents in U.S Rise 2.7 Percent Annually in March

Single-family Home Rents in U.S Rise 2.7 Percent Annually in March

According to CoreLogic's latest Single-Family Rent Index, which analyzes single-family rent price changes nationally and among 20 U.S. metropolitan areas, shows a national rent increase of 2.7 percent, which mirrors the rent increase for March 2017 when it was also 2.7 percent. Read More »

The Average U.S. Home Sells in 34 Days

The Average U.S. Home Sells in 34 Days

According to Redfin, across 174 U.S. housing markets, the typical home sold in May 2018 went under contract in 34 days, breaking April's record of 36 days, which was the fastest month on record going back to 2010. Amid the speed, the national median home sale price rose to $305,600, a 6.3 percent increase from May 2017. Read More »

Chicago's Expanding Tech, Financial Jobs Driving Multifamily Sector

Chicago's Expanding Tech, Financial Jobs Driving Multifamily Sector

According to a new Yardi Matrix report indicates that Chicago is living up to its financial hub status and continues to add high-earning jobs, driving multifamily rent growth. 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 20, 2018 9:00 AM ET

North America

According to the California Association of Realtors, California's median home price reached a new high in May 2018, while home sales retreated both on a monthly and annual basis, wiping out most of the gains posted for the year.

According to CoreLogic's latest Single-Family Rent Index, which analyzes single-family rent price changes nationally and among 20 U.S. metropolitan areas, shows a national rent increase of 2.7 percent, which mirrors the rent increase for March 2017 when it was also 2.7 percent.

According to Redfin, across 174 U.S. housing markets, the typical home sold in May 2018 went under contract in 34 days, breaking April's record of 36 days, which was the fastest month on record going back to 2010. Amid the speed, the national median home sale price rose to $305,600, a 6.3 percent increase from May 2017.

According to a new Yardi Matrix report indicates that Chicago is living up to its financial hub status and continues to add high-earning jobs, driving multifamily rent growth.

The Orlando Regional Realtor Association is reporting the inventory of homes available for purchase in the Orlando area dropped to its lowest point this year in May 2018.

Based on Transwestern's latest edition of THE BRIEFING, the U.S. economy has continued to thrive throughout the second quarter of 2018, a theme that will continue to play heavily during midterm elections.

Last Updated March 5, 2018 8:00 AM ET

Latin America

Panama-based Red Frog Beach Island Resort & Spa announced this week the resort's newest amenity, La Rosa Beach Club. The new addition features event and meeting spaces, a bar, a restaurant, a stunning waterfall and an infinity-edge pool.

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.

Last Updated June 18, 2018 8:10 AM ET

Europe

According to the 2018 Daft.ie Wealth Report, the number of homeowners in Ireland whose property is worth €1m or more - making them "property millionaires" - has surpassed 4,500.

£765 million ($1.04 billion USD) of real estate transactions took place in the West End in the first quarter of 2018 compared to £2.13 billion ($2.89b USD) in Q1 2017 -- a 64 percent annual drop.

According to a new report JLL, despite trade tensions and elevated stock market volatility, investors are still seeking value in real estate with global investment in the first quarter of 2018 hitting the highest Q1 level in 10 years at $165 billion.

Investment volumes into the UK's specialist property sector have significantly increased to reach an unprecedented £17.7 billion, a 40% increase on last year, and will continue to increase.

UK, Germany and Spain are the three most attractive hotel investment destinations in Europe, with more than two-thirds (69%) of investors identifying these markets as the preferred countries for hotel investment in 2018.

According to new research from Daft.ie, residential rents for properties close to Ireland's light-rail DART train stations and Luas stops rose by 3% to an average of €1,770 per month in the first three months of 2018.

Last Updated June 8, 2018 9:00 AM ET

Asia Pacific

According to JLL's latest Property Market Monitor, rents in Hong Kong's office markets grew at their fastest pace in more than two years amid a tight vacancy environment and an active leasing market.

The rise of e-commerce is expected to post significant growth and disrupt the local retail market in next few years.

According to JLL, Hong Kong remains uniquely globally-oriented within China's system of cities. The Special Autonomous Region (SAR) continues to act as a linking point between Mainland China and the world.

According to JLL's latest Property Market Monitor report, strong leasing momentum driven by tenant decentralization and sustained expansionary requirements from PRC occupiers has pushed rents up in the office market as a whole.

Cities in Asia Pacific and worldwide are getting smarter, but they must be ready for the Cyber security risks that accompany the growing adoption of tech-enabled real estate and infrastructure.

Increased interest in self-storage facilities, data centers, student accommodation, education and aged care as investors chase yield

Last Updated May 29, 2018 8:01 AM ET

Middle East and Africa Pacific

According to STR, hotels in the Middle East reported negative April 2018 performance results, while hotels in Africa posted growth across the three key performance metrics.

The Abu Dhabi property market heavily favored renters and buyers in Q1 of 2018, with market data showing price decreases in all areas. both apartments and villas across the sales and rental sectors became increasingly affordable in Q1.

According to STR, hotels across the Middle East reported mixed Q1 2018 performance results, while hotels in Africa posted growth across the three key performance metrics.

Residential rents across Dubai registered no change during the first quarter of 2018, helping improve the annual rate of change to -3.1%, from -7.7% at the end of last year.

According to STR, hotels in the Middle East reported mixed performance results in January 2018, while hotels in Africa posted growth across the three key performance metrics.

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.


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