Real Estate

  Bloomberg Two of Australia’s largest lenders, which tightened home loans to some foreigners, said they uncovered mortgages backed by questionable overseas-income documentation. Australia & New Zealand Banking Group Ltd. and Westpac Banking Corp. have identified issues with some loans that rely on foreign income for approval, the two lenders said in separate e-mails. The statement comes after the two ...

  Bloomberg After almost four years of negative interest rates, Danish policy makers need to act now to prevent a housing bubble, according to the IMF. “We strongly encourage the authorities to take early action to lean against the wind on house price increases,” David Hofman, IMF mission chief to Denmark, said. “We see a need for action on a ...

  Bloomberg Governor Chris Christie’s warning of Hurricane Sandy-like destruction of the New Jersey shore will be tested as the worst storm season in three years approaches and beachfront homeowners delay his building protective dunes along all 127 miles of the state’s coast. Christie, a second-term Republican, has been battling with property owners in court over his plan to erect ...

  Bloomberg Investment Corporation of Dubai (ICD), the investment arm of the Dubai government, has agreed to the purchase of the Porto Montenegro Marina and Resort in Montenegro. ICD which is building its hospitality portfolio and holds a significant equity stake in Kerzner International Holdings, founded by South African entrepreneur Sol Kerzner and the operator of the One&Only, Atlantis and ...

  Reuters After weeks of acrimonious headlines and months of finger-pointing, there’s been a few developments that should eventually help ease skyrocketing Vancouver home prices. At the end of March, the president of Real Estate Board of Greater Vancouver (REBGV), the provincial trade association that represents British Columbia (BC) ’s realtors, wrote an open letter to B.C. Premier Christy Clark, ...

  Bloomberg If you win big this weekend at the Kentucky Derby (like, really big) and want to park those winnings in some real estate, you may be in luck. The luxury market has surpassed pre-crash heights in many arenas, but relative bargains in horse-centric properties are still possible. “Equestrian properties in really desirable areas are still probably 20 percent ...

  Bloomberg Hong Kong property stocks were downgraded by Goldman Sachs Group Inc., which predicts a 20 percent decline in home prices as borrowing costs rise. The drop will be “driven chiefly” by a potential 150 basis points to 200 basis points increase in interest rates and the “limited prospect of any loosening of government cooling measures in the near ...

  Bloomberg The Qatar Investment Authority( QIA) is in advanced talks to buy the luxury St. Regis hotels in New York and San Francisco from Starwood Hotels & Resorts Worldwide Inc., according to people with knowledge of the discussions. The properties may be worth as much as $1 billion, though they could sell for less, said the people, who asked ...

  Bloomberg Lone Star Funds and Oaktree Capital Group LLC are among bidders shortlisted for two portfolios of soured loans with a combined face value of 4.7 billion euros ($5.4 billion) being sold by Ireland’s so-called bad bank, according to two people with knowledge of the matter. Cerberus Capital Management LP is also bidding for both the Project Ruby and ...

  Reuters In a corner of Shanghai, surrounded by a cement wall, lies one of the world’s most valuable fields of debris and garbage. On paper, the Guangfuli neighborhood is a real estate investor’s dream: a plot in the middle of one of the world’s most expensive and fast-rising property markets. But the reality is more like a developer’s nightmare, ...