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Residential News Edition | WORLD PROPERTY JOURNAL

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California Home Sales Rise in May, Aided by Lower Interest Rates

California Home Sales Rise in May, Aided by Lower Interest Rates

According to the California Association of Realtors, California's median home price edged higher to another peak for the second straight month as lower interest rates helped bolster home sales in May 2019. Read More »


Housing Starts in U.S. Dip in May

Housing Starts in U.S. Dip in May

According to new data from the U.S. Housing and Urban Development and Commerce Department, total U.S. housing starts declined 0.9 percent in May 2019 to a seasonally adjusted annual rate of 1.27 million units from an upwardly revised reading in April 2019. Read More »

Orlando Housing Market Enjoys Healthy Sales Jump in May

Orlando Housing Market Enjoys Healthy Sales Jump in May

According to Orlando Regional Realtor Association, Orlando's key housing marketing indicators all posted positive gains in May 2019, with sales jumping 10 percent compared to the same month last year. Read More »

Single-Family Rent Growth Continues in U.S.

Single-Family Rent Growth Continues in U.S.

According to CoreLogic's latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and among 20 metropolitan areas, shows a national rent increase of 3% in April 2019, as compared to 2.8% in April 2018. Read More »


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Luxury Property Spotlight

Grand Tetons Wonderland - (Driggs, Idaho)

Grand Tetons Wonderland - (Driggs, Idaho)

Huntsman Springs is golf and club community developed by Jon Huntsman, Sr. A place of serenity and beauty in the hitherto undeveloped Teton Valley of Western Idaho. Read More »


Regional Residential Real Estate News

Last Updated June 19, 2019 9:02 AM ET

North America

According to the California Association of Realtors, California's median home price edged higher to another peak for the second straight month as lower interest rates helped bolster home sales in May 2019.

According to new data from the U.S. Housing and Urban Development and Commerce Department, total U.S. housing starts declined 0.9 percent in May 2019 to a seasonally adjusted annual rate of 1.27 million units from an upwardly revised reading in April 2019.

According to Orlando Regional Realtor Association, Orlando's key housing marketing indicators all posted positive gains in May 2019, with sales jumping 10 percent compared to the same month last year.

According to CoreLogic's latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and among 20 metropolitan areas, shows a national rent increase of 3% in April 2019, as compared to 2.8% in April 2018.

Shopping for and buying a home is a daunting process for anyone, but Zillow research shows that for parents the stresses are magnified.

U.S. mortgage applications for new home purchases increased 20.1 percent compared from a year ago. Compared to April 2019, applications increased by 0.1 percent.

Last Updated June 13, 2019 9:03 AM ET

Latin America

Slovenia is home to the world's fastest rising house prices with average values accelerating 18.2% year-on-year. Falling unemployment, low interest rates and until recently, limited supply, are behind the strong price growth.

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.

Last Updated June 4, 2019 9:00 AM ET

Europe

Global real estate consultant Knight Frank is reporting that economic uncertainty of Brexit, coupled with the complexities of the planning system and rising build costs, have exerted pressure on London land values at the turn of 2019.

According to a new report by Daft.ie, Ireland home prices are currently growing by 5.9% year-on-year and in 2019 there are on average 11 properties sold nationwide every week that are worth €1m or more.

According to international real estate consultant Knight Frank's latest Prime Global Cities Index, which tracks the movement in luxury residential prices across 45 cities globally, registered its lowest rate of annual growth since the final quarter of 2009, when the world was in the grip of the financial crisis.

According to the latest quarterly Rental Report by Daft.ie, there were just 2,700 homes available to rent nationwide in Ireland on May 1st, 2019, the lowest total ever recorded in a series dating back to 2006.

Global real estate consultant Knight Frank is reporting that the average home price in Madrid declined 30% in peak-to-trough terms following the financial crisis of 2008, but now sits 46% above the market low reached in Q3 2012.

According to new research from international property consultancy Knight Frank, unlike Tuscany's mainstream residential housing market, the prime luxury segment is on a firmer footing.

Last Updated June 5, 2019 9:00 AM ET

Asia Pacific

According to JLL's latest Residential Sales Market Monitor Report, the price premium commanded by new mass residential flats sized 752 sq. ft and under on Hong Kong Island against the New Territories has narrowed from 90% to 79% over the past five years.

Co-living market is taking off in Asia Pacific as more people migrate to cities for jobs or education opportunities. This is opening up new opportunities for real estate developers and investors around the region.

Growing interest from China developers in acquiring older buildings for redevelopment in Hong Kong contributed to the Lands Tribunal receiving 39 compulsory sale applications in 2018.

Thirty one percent of Australian development sites in 2018 were bought by Chinese developers who purchased $1.3 billion worth of Australian residential development sites in 2018. This figure was down from $2.02 billion in 2017, or one-third of all site sales.

Less than 100 new luxury units (1,722 sq. ft or above) will be completed in Hong Kong's traditional luxury residential areas, including The Peak, Southern district, Kowloon Tong, Homantin and Mid-Levels, in 2019.

Shadowed by the various regulatory measures on the property market and the external economic uncertainty, Macau's property market softened and saw a slowdown in investment sentiment.

Last Updated April 25, 2019 9:01 AM ET

Middle East and Africa Pacific

According to the Property Monitor's latest Dubai House Price Index, the average annual house price in Dubai decreased by 12% in March 2019, with some communities registering even higher price declines.

According to the latest Dubai House Price Index, the average annual home price in Dubai decreased by 10.6% in February 2019, with some communities registering even higher price declines.

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.

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