THE WORLD PROPERTY JOURNAL

A Digital Newspaper for the Global Real Estate Industry

Oddly, Home Prices in U.S. Cities With Highest Natural Disaster Risk Rising Fastest

Oddly, Home Prices in U.S. Cities With Highest Natural Disaster Risk Rising Fastest

According to ATTOM Data Solutions' 2017 U.S. Natural Hazard Housing Risk Index, the median home price in U.S. cities in the 80th percentile for natural hazard risk (top 20 percent with highest risk) have increased more than twice as fast over the past five years Read More »


U.S. Home Sales Slip Again in August

U.S. Home Sales Slip Again in August

According to the National Association of Realtors, U.S. home sales stumbled in August 2017 for the fourth time in five months as strained supply levels continue to subdue overall activity. Sales gains in the Northeast and Midwest were outpaced by declines in the South and West. Read More »

Hurricane Irma Property Damage, Loss Estimates as High as $65 Billion

Hurricane Irma Property Damage, Loss Estimates as High as $65 Billion

Preliminary property loss estimates in Florida from Hurricane Irma, total insured and uninsured loss for both residential and commercial properties, including damage from both flood and wind, is estimated to be between $42.5 billion and $65 billion. Read More »

Millennial Homeownership in U.S. Delayed 7 Years From Student Debt

Millennial Homeownership in U.S. Delayed 7 Years From Student Debt

Despite being in the prime years to buy their first home in the U.S., an overwhelming majority of millennials with student debt currently do not own a home and believe this debt is to blame. Read More »


Global 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 Real Estate News

Last Updated September 21, 2017 9:09 AM ET

North America

According to ATTOM Data Solutions' 2017 U.S. Natural Hazard Housing Risk Index, the median home price in U.S. cities in the 80th percentile for natural hazard risk (top 20 percent with highest risk) have increased more than twice as fast over the past five years

According to the National Association of Realtors, U.S. home sales stumbled in August 2017 for the fourth time in five months as strained supply levels continue to subdue overall activity. Sales gains in the Northeast and Midwest were outpaced by declines in the South and West.

Preliminary property loss estimates in Florida from Hurricane Irma, total insured and uninsured loss for both residential and commercial properties, including damage from both flood and wind, is estimated to be between $42.5 billion and $65 billion.

Despite being in the prime years to buy their first home in the U.S., an overwhelming majority of millennials with student debt currently do not own a home and believe this debt is to blame.

The National Association of Home Builders is reporting this week that U.S. home builder confidence in the market for newly-built single-family homes fell three points to a level of 64 in September 2017.

According to ATTOM Data Solutions' Q2 2017 U.S. Home Flipping Report, 53,638 single-family homes and condos were flipped nationwide in the second quarter of 2017, a home flipping rate of 5.6 percent of all home sales during the quarter.

Last Updated June 2, 2017 9:00 AM ET

Latin America

Billionaire real estate developer and U.S. President Donald Trump, who once considered building luxury hotels in Cuba, is getting set to swing a sky-high verbal crane over the tiny Communist-governed nation.

More than 33,830 rooms in 199 hotel projects are under contract in the Caribbean and Mexico. The total represents a 4.4% increase in rooms under contract compared with January 2016.

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.

Cuban President Raul Castro has confronted U.S. President-Elect Donald J. Trump's hardball pitch to possibly break up President Obama's one year-old detente with the Communist island nation with a hardball gesture of his own.

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 September 15, 2017 8:00 AM ET

Europe

Global real estate consultant Knight Frank is reporting since the UK's vote to leave the EU in June 2016, there has been widespread concern that jobs might leave the UK, or firms will delay recruitment.

It's turning out that 2017 is becoming a very good year for Spain's property market, as JLL is now forecasting this year will be the eighth consecutive year of foreign buyer property growth.

According to international real estate consultant Knight Frank, buyers from Hong Kong have purchased £2.2 billion ($2.86b USD) of office buildings in the City of London over the first half of the year.

Over €770 million of Irish property was traded in the first 6 months of 2017. Although this is down from H1 2016, last year was an exceptional year.

On the heels of a failed snap election in an effort to build a bigger majority and a personal mandate, Theresa May, the British Prime Minister, now faces the though job of trying to forge a coalition deal to stay in power.

According to JLL, office completions in Moscow in Q1 2017 dropped to 21,143 square meters, 63% down Year-over-year. The delivery of 63,000 square meters of future office space was postponed.

Last Updated September 14, 2017 9:00 AM ET

Asia Pacific

Hong Kong is once again the world's highest-priced office market according to CBRE's semi-annual Global Prime Office Rents survey.

According to a new CBRE thought leadership paper, circa $300 billion worth of Australian residential assets could be owned by institutional investors within the next couple of decades if the multifamily sector evolves in the same vein as the US.

According to CBRE, Australia's commercial real estate remains an attractive asset class for offshore capital, with foreign investors accounting for 33% of all transaction activity in the first half of 2017.

According to the latest research from CBRE, global real estate continues to serve as an attractive asset class for investors, with Asian outbound investment into the sector posting significant year-on-year gains in the first half of 2017.

According to CBRE's Towards 2020: China Investment Strategy report, commercial property transactions in China will grow to RMB 260 billion ($39 billion USD) by 2020, a 45% increase from 2016.

According to CBRE, demand for office space in Tokyo remains stable across a wide range of sectors in 2017. One Grade A building was completed during the second quarter, with several large units still available.

Last Updated September 7, 2017 8:09 AM ET

Middle East and Africa Pacific

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.

The recently announced Emirates Towers Business Park is set to become Dubai's most defining commercial development in over 10 years.

Dubai's vision to diversify its economy further and establish itself as a thriving global business hub has accelerated business activity in a number of innovative industries, in turn spurring a new stream of demand for industrial space.

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.

According to STR, the hotel industry in Dubai, recorded strong occupancy levels during the first quarter of 2017 despite continued and significant supply growth.

Weakening economic conditions, tapering off in demand for oil and gas, and an increase in real estate supply has led to increased pressure on the Bahrain real estate industry.

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