TAG Immobillien of Frankfurt paid $604 Million (471 million euros) to outbid rivals and acquire 12,000 apartments (flats) in former East Germany. The deal was the biggest of the year in Germany. Germany's state-owned real estate firm, TLG Wohnen GmbH, was the seller. Privately held Lone Star Cos. of Dallas, TX was the second highest bidder.
An ancient city with spires and citadels and thick sandstone fortress walls juts out into the Mediterranean, looking more like a mirage than a city in 2012. In Akko, the past is revered, and each street and square holds its own ancient secrets. This was a thriving city, and a center of commerce and knowledge, when most of the rest of the world was barely out of the Stone Age. And, located as it is at a crossroads of religion and the tides of history, Akko is a treasure.
House and apartment prices in Hong Kong have shot up about 20 percent in the first nine months of this year, surpassing the previous peak in 1997 by around 26 percent. But are investors concerned? Many are not, fueling the bubble still more and banking they will escape before it bursts.
(Miami, FL) - According to the Miami Association of Realtors, the total number of Miami MLS listings, including single-family homes and condominiums, that pended in Miami-Dade County during the month of October increased 67 percent, from 2,488 to 4,172, year-over-year and 18 percent compared to the previous month. The number of single-family and condominium listings that pended in October increased 85 percent and 55.7 percent respectively compared to October 2011.
Striving to fend off new U.S. competition, 103-year-old Leon's Furniture Ltd. (TSX: LNF) of Toronto is buying long-time rival, 35-year-old Brick Ltd. of Edmonton, Alberta, in a deal valued at $700 million. The two firms are regarded as the largest specialty furniture retailers in Canada.
According to the National Association of Realtors (NAR), U.S. pending home sales rose strongly in October with mixed regional results. The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 5.2 percent to 104.8 in October from an upwardly revised 99.6 in September and is 13.2 percent above October 2011 when it was 92.6. The data reflect contracts but not closings.
Uganda, a 92,000-square-mile republic in east Africa housing 35 million residents, is booming in some of its real estate pockets but going down the drain in other sectors, according to mixed media reports in recent weeks. Bankers and developers are jittery. Loan defaults are mounting.
Although it was the Republicans who first suggested that the US deficit could be tackled by eliminating tax deductions, rather than raising tax rates, choosing which deductions to cut and by how much, will be no easy task, starting with the granddaddy of them all, the mortgage interest deduction.
According to figures released today by HUD and the U.S. Census Bureau, sales of newly built, single-family homes in October held flat from a downwardly revised pace in the previous month, at a seasonally adjusted, annual rate of 368,000 units.
According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 23, 2012, this week's results include an adjustment for the Thanksgiving holiday saw mortgage applications in the U.S. decreased 0.9 percent from one week earlier.
In the northwest of Scotland, offshore from the storied Highlands, lie the Inner and Outer Hebrides islands. Here, in a place of misty moors, high heather, and legendary lochs, are some of the best walking lands in Britain. On a walk around the Hebrides, you can experience the historic essence of Scotland. You can touch, you can see, and you can feel, from the damp, fragrant earth to the warm fires by the hearth, from the distant lilt of bagpipes to the traditional ways that still live on.
Things are changing in Chicago's Central Business District (CBD) office market. While there hasn't been a big reduction in the overall vacancy rate recently, there are signs of progress, including large spaces being converted into office space from other uses.
It's officially called a SAR, which is a special administrative region of the People's Republic of China. But Hong Kong itself marches to its own drummer, especially in the world of high-priced real estate. Today, the region's Causeway Bay area is considered the most expensive retail street in the world.
According to the latest S&P/Case-Shiller Home Price Indices, U.S. home prices continued to rise in the third quarter of 2012. The national composite was up 3.6% in the third quarter of 2012 versus the third quarter of 2011, and was up 2.2% versus the second quarter of 2012.
Due to concerns regarding an increase of residential real estate prices, the Chilean Financial Stability Council (Consejo de Estabilidad Financiero) has announced the creation of a new group to monitor residential real estate sector risk. The group, comprised of representatives of the Ministry of Finance, the Central Bank and Superintendents of Pensions, Securities and Insurance and Banks, will seek to identify and monitor systemic threats to local financial stability.
The republic of Turkey, with a population of 75 million in western Asia, wants to be a noticeable player in the world's real estate markets. The country's real estate growth plans are ambitions. Turkey wants to attract up to $10 billion a year to its property market from investors in Europe, Asia and the oil-producing states around the Persian Gulf, including Iran, Iraq, Kuwait, Saudi Arabia, Bahrain, Qatar, the United Arab Emirates, and Oman.
Quito, Ecuador, is a city of did-you-know's. For example, did you know that, at an altitude 0f 9,350 feet, it's the highest capital city in the world?
Unable or not willing to compete with newer, glitzier malls, many developers in Poland are reinvigorating and upgrading older shopping centers located in prime foot traffic locations. That's what the biggest real estate players in the world heard at the recent annual MAPIC exhibition and conference in Cannes, France.
The office vacancy rate will continue to decline in 2013 and more so in 2014, according to the CBRE Group. The rate will fall to 14.9% next year and 13.8% in 2014, according to the commercial real estate brokerage firm. "The way I'd characterize the office market recovery is 'slow and steady,'" says Arthur Jones, senior managing economist at CBRE Econometric Advisors in Boston.
According to Freddie Mac's latest Primary Mortgage Market Survey (PMMS),fixed mortgage rates in the U.S. found new record lows for the second consecutive week keeping borrowing costs attractive to support the ongoing housing recovery.