Real Estate

  Bloomberg New-home construction in the U.S. was little changed in May, a sign the residential real-estate industry will add little to economic growth in the second quarter. Housing starts in May fell 0.3 percent to a 1.16 million annualized rate from a 1.17 million pace the prior month, a Commerce Department report showed in Washington. Progress in residential real …

  Bloomberg London’s housing market is facing a “major shock” as private landlords offload properties because tax increases will reduce returns on their investments to near zero, according to analysts at Deutsche Bank AG. New lending rules will also severely restrict the ability of investors, who have accounted for about 40 percent of purchases in recent years, to fund property …

  Bloomberg China’s home prices rose in fewer cities in May than the previous month, with gains in some second-tier locations surpassing those in Shanghai and Shenzhen. New-home prices excluding affordable homes climbed in 60 cities, down from 65 in April, among the 70 tracked by the government, the National Bureau of Statistics said on Saturday. They dropped in four …

  Bloomberg Banco Popular Espanol SA raised €2.5bn from a sale of new shares, as the Spanish lender seeks to draw a line under losses stemming from the country’s property crash. Popular sold 2 billion new shares in the capital increase, which attracted total investor demand of €3.4 bn, or 136% of the amount raised, the bank said. Popular is …

  Bloomberg By the time interior designer Jacques Grange first entered the contemporary, bayside house at 1320 Flying Point Road, it was nearly complete. What he saw was “like a boat, very pleasant but dominating the view,” he said from his Paris office during a phone call. His decorating approach—chairs by Marcel Breuer, a sofa by Tobia Scarpa, and light, …

  Bloomberg Japan’s real estate investment trusts have soared in value to become the priciest in the world. More purchases by one of the biggest investors in the landlord business — the Bank of Japan — may help propel prices even higher. Buying by the BOJ has helped boost premiums on J-REITs, which manage rental properties such as apartments, offices …

  Bloomberg Scorching prices in Canada’s top housing markets are unlikely to see declines because the major drivers are beyond the reach of traditional monetary policy, according to Bank of Montreal’s top economists. “Monetary policy can’t do anything about the inferno,” according to the draft of a report led by Douglas Porter, the bank’s chief economist . “None of the …

  Bloomberg Berkeley Group Holdings Plc said reservations for new homes dropped 20 percent in the five months through May after the developer offered fewer projects for sale ahead of the U.K.’s vote on membership of the European Union next week. The shares fell. “After such strong market conditions for our industry, transaction levels in both the second-hand and new-homes …

  Bloomberg In 2005, George Fontini, a co-founder of Mudd Jeans, had recently sold the business for a reported $45 million to Iconix Brand Group and was looking for something to do. “A friend was doing real estate out here,” Fontini said, “and talked to me about a property [in Amagansett, Long Island]. I came out, looked at it, loved …

  Bloomberg While some investors have been quick to blame next week’s Brexit vote for the slowdown in U.K. commercial property sales, there are growing signs the market will stall, whatever the outcome of the referendum. Investors spent £16.9 billion ($24.4 billion) on offices, stores, warehouses and other commercial properties from January through May this year, according to Real Capital …