According to Jones Lang LaSalle's Offices 2020 Research Program, over the next decade European office buildings face an increased risk of value depreciation and obsolescence as structural change in three factors will combine to accelerate risk. The rate of increase of office obsolescence, where the building is no longer desirable or fit for use, will accelerate due to increasing sustainability legislation, advancing workplace technology and evolving employer requirements.
Major markets across the Gulf Cooperation Council (GCC) reported mixed results in revenue per available room (RevPAR) during the first quarter of 2012.
RE/MAX, one of the world's largest residential brokerage organizations, recently reported the U.S. housing industry is staging a recovery with increasing sales and stabilizing prices. This claim is based on the latest RE/MAX Market Insights report, which shows four out of five agents believe U.S. home prices won't decline further. In fact, nearly 70 percent predict prices will go up, led by a strong demand for homes in the low to middle price ranges.
Ford Motor Co. is planning its largest worldwide expansion in 50 years. The Detroit car maker announced it will be investing $760 million (RMB 4.9 billion) to build an assembly plant in Hangzhou, China. The plant will double Ford's passenger car capacity in China to 1.2 million units annually when it opens in 2015, the company states.
According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 20, mortgage applications decreased 3.8 percent from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3.3 percent compared with the previous week.
Ozzy Osbourne and wife Sharon have sold their oceanfront house in Malibu for $7.925 million. Their 2.5-acre estate in Hidden Hills remains on the market at $12.999 million. The three-story beach house features a walled garden, five bedrooms, five bathrooms and 4,500 square feet of living space. The master bedroom suite and a wood-paneled library take up the entire second floor.
Property investors get ready, Mexico's "Cancun of the West Coast" goes up for auction soon. Paramount Realty USA has just announced this week it has been hired by a group of private land owners in Mexico to auction one of Mexico's largest remaining tourism development sites nestled along the beach between Acapulco and Ixtapa - the golden West Coast of Mexico.
Following the closing of their two newest properties in Florida, Veranda II and Channelside, The Related Group announces a development pipeline that is approaching 4,000 units, establishing the multi-family development company as one of Florida's largest. President and CEO of Related Development, LLC, Steve Patterson, who joined the company in 2010, is spearheading the new multi-housing rental development activities.
Based on Freddie Mac's latest Primary Mortgage Market Survey (PMMS), the average U.S. fixed mortgage rates is down slightly and hovering just above their record lows as markets waited for the Federal Reserve's monetary policy announcement. The 30-year fixed-rate mortgage averaged 3.88 percent and has been below 4 percent all but one week in 2012. The 15-year fixed, a popular refinancing choice, averaged 3.12 percent.
(Miami, FL) -- According to the 26,000 member Miami Association of Realtors and the local Miami Multiple Listing Service (MLS) system, the total number of listings, including single-family homes and condominiums, that pended in Miami-Dade County during the month of March increased 13 percent month-over-month but declined 5.0 percent, from 4,389 in March 2011 to 4,158 in March 2012.
The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for March 2012.
According to a new report by Manhattan-based Prudential Douglas Elliman for the Hamptons and North Fork markets, pricing indicators started showing overall market stability in Q1, 2012. The median home sales price edged 1.2% higher to $630,000 over the prior year quarter. The average sales price jumped 17% due to improved conditions at the high end.
According to the National Association of Home Builders (NAHB), U.S. home remodeling activity remained relatively flat in the first quarter of 2012, as the Remodeling Market Index (RMI) decreased one point to 47 from the upwardly revised 48 in the previous quarter.
(Toronto, Canada) -- Donald Trump and his three children - Donald Trump Jr., Ivanka Trump and Eric Trump - recently made a grand family appearance in North America's fifth-largest city for the official opening of Trump International Hotel & Tower Toronto. Trump International Hotel & Tower Toronto, located in the heart of downtown Toronto, is Canada's tallest residential building at 65 stories.
Eco-friendly hostel As the saying goes, "Everything works out for the best," and our trek through Central America is a great example the adage always holds true. The original plan was to sell our house for its 2005 appraised value,...
Dottie Herman Q1 - My friend applied for a mortgage and the bank told her she didn't have to do an appraisal. I applied for a mortgage with the same bank and they told me I had to pay $370...
Talk about a complex commercial real estate deal - look no further than the Senkaku Islands, known as the Diaoyu Islands in China. Japan and China have had cordial relations for 40 years, but that situation could change quickly if this real estate dispute is not resolved, according to international observers familiar with the property.
(Miami, FL) -- Douglas Elliman announced this week that they are partnering with veteran developer Tibor Hollo, President of Florida East Coast Realty (FECR), as exclusive sales agent for the luxury Opera Tower residences. The partnership brings together Tibor Hollo, developer of a significant number of major high-rise residential and mixed-use buildings in Miami, and highly-ranked brokerage Douglas Elliman, in a focused sales strategy for premium properties.
According to Jones Lang LaSalle European Office Index, Europe is now recording slight reductions in office rents for the first time since Q4 2009.
Manhattan-based SL Green Realty Corp announced this week that Viacom has renewed its commitment at 1515 Broadway by extending and expanding the company's occupancy at the iconic Times Square tower through 2031. Viacom's future expansion is expected to cover the balance of the building's office space after 2020.