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Residential News Edition | WORLD PROPERTY JOURNAL

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 U.S. Home Sales Slide in Late 2018

U.S. Home Sales Slide in Late 2018

According to a new report by the National Association of Realtors, after two consecutive months of increases, existing-home sales in the U.S. declined in the month of December 2018. None of the four major U.S. regions saw a gain in sales activity last month. Read More »


Higher Rates, Limited Supply Slow Miami Home Sales in December

Higher Rates, Limited Supply Slow Miami Home Sales in December

Higher mortgage rates resulted in fewer Miami-Dade home sales in December 2018. After five months of consecutive increases countywide, total Miami-Dade County sales decreased 6.2 percent year-over-year in December 2018. Read More »

Orlando Housing Market Ends 2018 with Mixed Signals

Orlando Housing Market Ends 2018 with Mixed Signals

Orlando's annual median home price for 2018 ($232,500) is 5.7 percent higher than the 2017 annual median price ($220,000) thanks to another 12 consecutive months of year-over-year price increases. Read More »

New Home Mortgage Applications in U.S. Dip 6.1 Percent in December

New Home Mortgage Applications in U.S. Dip 6.1 Percent in December

U.S. mortgage applications for new home purchases decreased 6.1 percent from a year ago. Compared to November 2018, applications decreased by 13 percent. This change does not include any adjustment for typical seasonal patterns. Read More »


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Luxury Property Spotlight

Harbor Place at Safety Harbor, The Jewel of Tampa Bay

Harbor Place at Safety Harbor, The Jewel of Tampa Bay

The town of Safety Harbor is a secret little hideaway known as the Jewel of Tampa Bay. Safety Harbor is neighbored by the major city of Clearwater, Florida. Read More »


Regional Residential Real Estate News

Last Updated January 23, 2019 8:45 AM ET

North America

According to a new report by the National Association of Realtors, after two consecutive months of increases, existing-home sales in the U.S. declined in the month of December 2018. None of the four major U.S. regions saw a gain in sales activity last month.

Higher mortgage rates resulted in fewer Miami-Dade home sales in December 2018. After five months of consecutive increases countywide, total Miami-Dade County sales decreased 6.2 percent year-over-year in December 2018.

Orlando's annual median home price for 2018 ($232,500) is 5.7 percent higher than the 2017 annual median price ($220,000) thanks to another 12 consecutive months of year-over-year price increases.

U.S. mortgage applications for new home purchases decreased 6.1 percent from a year ago. Compared to November 2018, applications decreased by 13 percent. This change does not include any adjustment for typical seasonal patterns.

According to the California Association of Realtors, California home sales declined for the eighth straight month in December 2018, and a stagnating market for much of the year pushed sales lower in 2018 for the first time in four years.

U.S. builder confidence in the market for newly-built single-family homes rose two points to 58 in January 2019 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).

Last Updated January 4, 2019 9:02 AM ET

Latin America

Panama, the winner of the 2019 Global Retirement Index, has been a constant in the Index, but this year marks the 10th time it's reached the #1 spot--climbing from third place to scoop the top prize.

According to InternationalLiving.com's 2018 Global Retirement Index, Costa Rica takes the top spot for the first time in the index's history.

According to InternationalLiving.com's recently released 2017 Global Retirement Index, the top retirement destination in the world this year now goes to Mexico.

According to InternationalLiving.com's 2017 Global Retirement Index, Mexico gets top marks as the best place to retire based on cost of living, retiree benefits, climate, healthcare, and more.

According to InternationalLiving.com, there has been a 160% surge in online searches for terms like "move overseas" and "expats overseas" post Trump election victory this week.

U.S. home builders just completed four days of talks with Chilean government, trade and industry officials that are geared toward increasing exports of softwood lumber and other wood products to America.

Last Updated January 3, 2019 9:29 AM ET

Europe

International property consultant Knight Frank reports this week that the average greenfield development land price declined 0.6% in Q4 2018, down from 2.6% growth in Q3, paring annual growth to 0.6%. Labor costs continue to edge up and the relatively weak pound has made imported building materials more costly for homebuilders.

According to international property consultant Knight Frank, the annual change in prices in prime regional housing markets in England and Wales fell for the first time in 18 months in 2018, according to Knight Frank figures.

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.

A new research by price comparison website MoneySuperMarket reveals that the UK is the most expensive location to raise a family in Europe.

Last Updated January 8, 2019 9:00 AM ET

Asia Pacific

The strike rate of People's Republic of China (PRC) developers in Hong Kong's government land sales market dropped notably in 2018.

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 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 Singapore-based Edmund Tie & Company, private residential property prices in Singapore continued to increase in Q2 2018, with the Urban Redevelopment Authority (URA) private residential property price index increasing by 3.4 per cent quarter-on-quarter (q-o-q).

Based on a new study by China property portal Juwai.com, international Chinese property buyers are split by lifestyle when buying homes abroad. As Chinese international property buyers become more numerous and sophisticated, they are changing the way they evaluate and purchase overseas real estate.

Last Updated May 7, 2018 9:12 AM ET

Middle East and Africa Pacific

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.

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 property portal Bayut, Al Reem Island is the most in-demand area among Abu Dhabi tenants this year with studios, 1-beds and 2-beds commanding AED 60k, 82k and 120k, respectively, (14% decline from 2016).

Oman's GDP growth is expected to rise to 5.2% next year, aided by the introduction of natural gas production at the Khazzan gas field and the opening of the new airport in Muscat.

According to the latest property report from Cluttons, as the UAE government pioneers fiscal adjustment in the region in response to declining oil prices, milestones such as Expo 2020 and the introduction of VAT will play a key role in boosting the country's property market.

According to the National Association of Realtors, existing-home sales rebounded in May following a notable decline in April, and low inventory levels helped propel the median sales price to a new high.

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