Global Real Estate News
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Keep abreast of the latest global real estate news across 7 continents that impacts on your business.
USA: Mortgage Application Volumes Spike in Early June in U.S.
"According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending June 3, 2016, mortgage applications in the U.S. increased 9.3 percent from one week earlier. This week's results include an adjustment to account for the Memorial Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 9.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index ...
Read more.USA: 268,000 U.S. Homeowners Regained Positive Equity in Q1
"Yet 4 Million Properties Remain in Negative Equity in Q1 According to Irvine, Ca-based CoreLogic, 268,000 U.S. homeowners regained positive equity in Q1 2016, bringing the total number of mortgaged residential properties with equity at the end of Q1 2016 to approximately 46.7 million, or 92 percent of all mortgaged properties. Nationwide, home equity increased year over year by $762 billion in Q1 2016." Read more on: ...
Read more.Australia: Brisbane apartment market warning
" Brisbane’s unit construction boom is set for a bust, the city’s Lord Mayor said as he faced calls for the council to rein in the approval of new developments. In response to a question about unit oversupply from Greens councillor Jonathan Sri, Lord Mayor Graham Quirk said he expected to see fewer housing projects being built in Brisbane going forward." Read more on: ...
Read more.UK: Property lending has peaked but the UK is not heading for another crash, Savills says
"Lending to the commercial property sector may have peaked, but the country is not headed for another crash, a new report from real estate adviser Savills has suggested. The company’s latest annual paper on financing in the commercial property market found that the factors present in 2007 before the global financial crisis, such as a high risk threshold and increased amount of development, are currently absent from today’s market." Read more on: ...
Read more.UAE: Dubai’s Damac set to launch $462k Aykon City homes
"amac Properties has announced the launch of the residential tower within its Aykon City project, with prices starting at nearly AED1.7 million ($462,800). The 60-storey tower will house the luxury apartment units and be part of the Aykon City development to be centrally located on Sheikh Zayed Road in Dubai’s Golden Quadrant, overlooking the Dubai Canal." Read more on: ...
Read more.UAE: Revealed: Middle East’s 100 most influential people in construction industry
"The Construction Week Power 100, now in its seventh year, is an annual ranking of the most influential individuals currently working within the Middle East’s construction sector. It's also a celebration of the people who are transforming both the industry and the regional landscape. There’s no denying that the past 12 months have been challenging for the Middle East’s construction community." Read more on: ...
Read more.Saudi Arabia: Saudi’s Dar Al Arkan discusses housing with government
"Dar Al Arkan Real Estate Development Co, one of Saudi Arabia's top property developers, said on Tuesday it was in talks with the government to provide housing units under the kingdom's economic reform plan. The plan, announced on Monday, says the Ministry of Housing will spend a total of 59.2 billion riyals ($15.8 billion) over the five years through 2020 to ease the country's shortage of affordable housing through schemes such as a loan guarantee programme and faster licens...
Read more.Greece: Greece revises $1bn Abu Dhabi-backed property deal for former airport
"Greece on Tuesday revised terms for the sale and long-term lease of the old Athens airport of Hellenikon, meeting the demands of international lenders who are now expected to unlock long-withheld bailout funds. Privatisations have been a central condition of Greece's succession of international bailouts since 2010, but political resistance and bureaucratic snags have meant few have gone ahead to date." Read more on: ...
Read more.South Africa: Cape Town’s Rental Market Offers Investors Solid Returns
The rental market in Cape Town is more buoyant than it’s ever been, with many areas experiencing stock shortages and skyrocketing rental prices that continue to outpace the current consumer inflation rate of 7%. Recent data compiled by economists at Rode & Associates reveals that Cape Town’s rental inflation for 2015 was 9.6%, while t...
Read more.UAE: The Tower at Dubai Creek to be 100m higher than Burj Khalifa
"he new tower being built at Dubai Creek Harbour by Emaar Properties will be 100 metres taller than Burj Khalifa, according to Mohamed Alabbar, the Emaar Properties chairman. Mr Alabbar has said that work will start on the project to build the tower next month, according to CNN. Designed by the Spanish-Swiss architect Santiago Calatrava, the new cable-tied tower is planned as the centrepiece to a major new district based on the banks of Dubai’s creek close to the wil...
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