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THE WORLD PROPERTY JOURNAL

A Digital Newspaper for the Global Real Estate Industry

Property Millionaires on the Rise in Ireland in 2018

Property Millionaires on the Rise in Ireland in 2018

According to Daft.ie's 2018 Wealth Report, the number of homeowners in Ireland whose property is worth €1m or more - making them "property millionaires" - has surpassed 5,000. The total number of property millionaires now stands at 5,305, a change of 452 or 9% since June of this year. Read More »


Millennials Most Likely to Put Less Than 20 Percent Down Payment

Millennials Most Likely to Put Less Than 20 Percent Down Payment

According to new Zillow research, forty-three percent of U.S. homebuyers nationally put down 20 percent or more. Atlanta and Phoenix had the smallest share of buyers -- at just over 30 percent -- putting that much down. Read More »

Global Home Price Growth Slows to 2-Year Low Pace in Q3

Global Home Price Growth Slows to 2-Year Low Pace in Q3

According to International property consultant Knight Frank, the average value of residential property across 57 countries and territories worldwide increased by 4.9% in the year to September 2018, the index's lowest annual rate of growth for two years. Read More »

 U.S. Mortgage Rates Drop to 3 Month Low in December

U.S. Mortgage Rates Drop to 3 Month Low in December

According to Freddie Mac's latest Primary Mortgage Market Survey for the second week of December 2018, U.S. mortgage rates dropped significantly after several weeks of moderating. 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 December 17, 2018 8:07 AM ET

North America

According to new Zillow research, forty-three percent of U.S. homebuyers nationally put down 20 percent or more. Atlanta and Phoenix had the smallest share of buyers -- at just over 30 percent -- putting that much down.

According to Freddie Mac's latest Primary Mortgage Market Survey for the second week of December 2018, U.S. mortgage rates dropped significantly after several weeks of moderating.

681,455 refinance mortgages in the U.S. secured by residential property (1 to 4 units) were originated in the third quarter, down 15 percent from the previous quarter and down 21 percent from a year ago to the lowest level as far back as data is available -- Q1 2000.

According to the U.S. Department of Housing and Urban Development, sales of newly built, single-family homes in the U.S. fell to a seasonally adjusted annual rate of 544,000 units in October 2018, after an upwardly revised September report.

Zillow is reporting this week that rising residential rents across the U.S. are burdening financially limited renters, and contributing to higher rates of homelessness in many of the nation's least affordable housing markets.

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending December 7, 2018, mortgage applications rose 1.6 percent from one week earlier.

Last Updated July 20, 2018 9:00 AM ET

Latin America

According to a new Global Retirement Index by International Living Magazine, Costa Rica won the top spot for U.S. expats to retire in 2018.

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.

Last Updated December 17, 2018 9:16 AM ET

Europe

According to Daft.ie's 2018 Wealth Report, the number of homeowners in Ireland whose property is worth €1m or more - making them "property millionaires" - has surpassed 5,000. The total number of property millionaires now stands at 5,305, a change of 452 or 9% since June of this year.

Residential rents rose nationwide by an average of 11.3% in the year to September 2018. This represents the tenth consecutive quarter in which a new all-time high for rents has been set and also in which annual inflation in rents has been greater than 10%.

According to the latest House Price Report by property website, Daft.ie, Ireland home prices nationally rose by 1.3% in the third quarter of 2018. The average price nationwide between June and September 2018 was €257,000, 6.6% higher than a year ago.

According to a new report from global hotel consultancy HVS, tourism numbers to the Hungarian capital of Budapest have risen by 12% over the past three years prompting a recovery in the city's hotel sector and stimulating further demand for vacation property assets.

According to International real estate consultant Savills' 30th annual Financing Property report, the UK property lending market is largely stable as a result of pressure on interest cover ratios (ICRs) and debt yields.

Hotels in the two Russian cities of Moscow and Saint Petersburg recently enjoy the benefits of massive tourism inflows with the recent World Cup Soccer event.

Last Updated December 14, 2018 9:04 AM ET

Asia Pacific

According to International property consultant Knight Frank, the average value of residential property across 57 countries and territories worldwide increased by 4.9% in the year to September 2018, the index's lowest annual rate of growth for two years.

According to CBRE, recentralization and a flight to quality are helping to drive an uptick in Brisbane's prime CBD office market, underpinned by record levels of investment in new development projects.

According to a new report from global real estate consultant JLL, Hong Kong's Central District has the world's most expensive rent for premium offices for the fourth year running.

According to Singapore-based real estate consulting firm Edmund Tie & Company, Singapore's private residential market was affected by the latest round of Government cooling measures, which was announced on July 5th, 2018 and took effect on July 6th.

According to JLL's Residential Sales Market Monitor released this week, the first day sell-through rates for newly launched mass residential projects (where over 80 units were launched in the first batch of sales) dropped significantly in October 2018.

According to JLL's latest Hong Kong Property Market Monitor, rents in the overall Grade A office market continued to rise albeit at a slower pace last month. Average rent of Grade A office climbed 0.5% m-o-m in October, compared to a 1.0% m-o-m growth in September 2018.

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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