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Residential News Edition | WORLD PROPERTY JOURNAL

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Mortgage Applications Dip in Mid-November

Mortgage Applications Dip in Mid-November

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending November 9, 2018, U.S. mortgage applications decreased 3.2 percent from one week earlier. Read More »


48,390 Homes at High Risk from Wildfire Destruction in California

48,390 Homes at High Risk from Wildfire Destruction in California

According to real estate data company CoreLogic, approximately 48,390 California homes with a total reconstruction cost value (RCV) of approximately $18 billion are at high or extreme risk of wildfire damage from the Camp and Woolsey fires in Northern and Southern California. Read More »

Residential Rents Continue to Skyrocket in Ireland

Residential Rents Continue to Skyrocket in Ireland

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%. Read More »

Mortgage Delinquencies in U.S. Uptick in Q3

Mortgage Delinquencies in U.S. Uptick in Q3

The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 4.47 percent of all loans outstanding at the end of the third quarter of 2018. Read More »


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Luxury Property Spotlight

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

In the heart of breathtaking Paradise Island adjacent to Nassau, Bahamas, a very rare residential opportunity will soon be available. Opportunities like this are extremely limited on this 685 acre island paradise. Read More »


Regional Residential Real Estate News

Last Updated November 14, 2018 8:08 AM ET

North America

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending November 9, 2018, U.S. mortgage applications decreased 3.2 percent from one week earlier.

According to real estate data company CoreLogic, approximately 48,390 California homes with a total reconstruction cost value (RCV) of approximately $18 billion are at high or extreme risk of wildfire damage from the Camp and Woolsey fires in Northern and Southern California.

The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 4.47 percent of all loans outstanding at the end of the third quarter of 2018.

According to Freddie Mac's latest Primary Mortgage Market Survey for the week ending November, 7th, 2018, U.S. mortgage rates rose significantly across the board.

According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released this week, a modest increase in interest rates and home prices kept housing affordability at a 10-year low in the third quarter of 2018.

According to the Mortgage Bankers Association's latest Mortgage Credit Availability Index, mortgage credit availability in the U.S. increased in October 2018.

Last Updated January 11, 2018 8:35 AM ET

Latin America

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.

Economic growth has significantly moderated in Latin America's leading economies of Brazil, Mexico, Colombia, Peru and Chile.

Last Updated November 12, 2018 9:03 AM ET

Europe

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.

According to Irish property portal Daft.ie, home buyers in Ireland are paying up to 32% more for a property with a sea-view. The research, conducted by economist Ronan Lyons, analyzed over half a million property listings.

The value of homes at number 13 are typically €4,700 ($5,500.00 USD) cheaper than the average Irish property of €254,000 ($296,000) avg. house price nationwide based on Q2 2018 Daft.ie House Price Report.

According to Irish property portal Daft.ie, home prices nationally rose by 2.7% during the second quarter of 2018. The average price nationwide during the second quarter was €254,000, 5.6% higher than a year ago.

Last Updated October 2, 2018 8:05 AM ET

Asia Pacific

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.

To minimize the impact of the new vacancy tax, developers are likely to switch more unsold luxury flats from the sales to leasing market.

According to JLL's mid-year 2018 Hong Kong property forecast, the upward march of housing prices will slow in the second half after the Government introduced a new vacancy tax and restrictions on the Pre-sale Consent Scheme.

Increased vigilance on the part of policymakers keen to use macro prudential measures to curb price inflation along with escalating affordability constraints are keeping a lid on urban property price growth, worldwide.

Global property consultant JLL is reporting this month the extended stamp duty rebate window has failed to help home upgraders in Hong Kong.

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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