According to Jones Lang LaSalle's regional market experts, office rents in Asia Pacific are holding steady in Q2 while more companies are maintaining a 'wait and see' approach to location decisions. Jones Lang LaSalle's Asia Pacific office leasing markets report for the second quarter of 2012 says those markets that were experiencing office rental declines in previous quarters are anticipating a slowdown in the rate of decline.
Vanke is rolling the dice. The company is China's largest real estate developer. It also is carrying one of the steepest commercial real estate debt loads in the country. Despite unpaid loans approaching $1 billion, Vanke has announced it plans to acquire a 73.91% controlling stake in Hong Kong-listed Wing Tai Properties, for HK$1.08 billion (US $139 million).
Wyndham Worldwide, whose Wyndham Hotel Group is the world's largest hotel company with over 7,150 hotels and approximately 609,300 rooms in 65 countries, said momentum in its lodging and time-share segments helped its bottom line during the first quarter, according to the company's recently reported quarterly earnings.
According to RealtyTrac's Q1 2012 U.S. Foreclosure Sales Report, sales of U.S. homes that were in some stage of foreclosure or bank owned accounted for 26 percent of all U.S. residential sales during the first quarter -- up from 22 percent of all sales in the fourth quarter and up from 25 percent of all sales in the first quarter of 2011.
According to the Miami Association of Realtors, the total number of listings, including single-family homes and condominiums, that pended in Miami-Dade County during the month of April increased five percent, from 3,831 to 3,975, year-over-year but declined 4.4 percent compared to the previous month.
According to the National Association of Realtors (NAR), pending home sales dipped in April following three consecutive monthly gains, but notably higher than a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, declined 5.5 percent to 95.5 from a downwardly revised 101.1 in March but is 14.4 percent above April 2011 when it was 83.5. The data reflects contracts but not closings.
Based on the latest S&P/Case-Shiller Home Price Indices report, all three key price composites ended the first quarter of 2012 at new post-crisis lows. The national composite fell by 2.0% in the first quarter of 2012 and was down 1.9% versus the first quarter of 2011.
It may just be an on-paper deal between the same owners, but the $1.4 billion sale of the 103-story, 2.69 million-square-foot Guangzhou International Finance Center in the southern China city of Guangzhou is still going down on the Hong Kong Stock Exchange as a bonafide transaction.
According to HUD and the U.S. Census Bureau, sales of newly built, single-family homes rose 3.3 percent in April to a seasonally adjusted annual rate of 343,000 units. "The increase in April sales activity is in line with other important housing measures that have shown continued, gradual improvement from the first quarter as more consumers look to take advantage of today's low interest rates and affordable home prices,"
According to a new report by STR Global, both Barcelona's and Tokyo's hotel markets may enjoy an uptick in revenues in coming years.
Based on Freddie Mac's latest Primary Mortgage Market Survey (PMMS), record lows for average fixed mortgage rates holding steady for the week. The 30-year fixed-rate mortgage ticked slightly down to 3.78 percent and 15-year fixed-rate mortgages remained unchanged from last week at 3.04 percent.
Brisk sales at south Florida's Old Palm Golf Club in Palm Beach Gardens, one of the country's most exclusive private golf club communities, has forced the developer to release a collection of preserve lots for the first time. This move by Old Palm, where homes in the golf estates section range in square feet from 3,400-5,000 square feet, offers buyers even more options and opportunities
The owners of northern Vermont's Jay Peak resort recently announced they closed on the purchase of another northern Vermont ski hill, Burke Mountain, previously owned by the bankrupt Ginn Company. Bill Stenger, president and co-owner of Jay Peak, and business partner Ari Quiros purchased the property from a subsidiary of financially troubled Florida-based real estate developer Bobby Ginn's namesake company for an undisclosed sum.
HE Mubarak Saeed Al Dhaheri, the Undersecretary of the Ministry of Labor, today officially inaugurated phase one of the new operative village in Al Ain created by Aldar to support ongoing development in Al Ain and improve the quality of labor accommodation.
Fresh from a speculated multi-million-dollar fund closing in Brazil, Houston-TX-based Hines has announced it has closed its Hines Russia and Poland Fund. This is the fourth Hines fund formed to invest in Russia and Poland. Hines manages more than $2.billion of property assets in the combined countries. Those assets include $1.25 billion owned or controlled by Hines and its affiliates as of Dec. 31, 2011.
TFI -Hines Brazil Income Real Estate Fund announced it has closed its first seed acquisition by investing in the World Trade Center complex in Sao Paulo, Brazil.
The Urban Land Institute (ULI) announced this week that internationally acclaimed urban theorist Richard Florida, author of numerous books on the 21st century urban evolution including The Rise of the Creative Class, Who's Your City, and The Great Reset, has been named a senior visiting fellow for the Urban Land Institute. The institute, with nearly 30,000 members worldwide, is a nonprofit education and research institute dedicated to responsible land use and the creation of thriving communities around the globe.
Indonesia is becoming a favorite online investment site with overseas buyers. The country now accounts for 0.79 per cent of all overseas property searches on the website - double the amount since December 2011. Indonesia is now ranked as the 22nd most popular, based on website enquiries - up from 31st place just five months ago.
Q1 - I am applying for a mortgage and work a lot of overtime. My base pay is not that much, but with the overtime, I think it will be enough. Will the bank include my overtime pay to qualify me for a mortgage? A - You must have a two year history of working overtime with your current job and it must be likely to continue. The lender will use an average of the two years in addition to your regular pay.
First-time buyers looking to live in the heart of London can now own a piece of this great city at a fraction of the real estate costs thanks to a new fractional ownership development called Aspire@E14. The shared ownership homes, located between City and Canary Wharf in the Limehouse area, are priced from just £88,000 for a 40 percent share (full market price is £220,000). The 32 homes are being marketed by A2Dominion New Homes.