Real Estate

Bloomberg Hong Kong’s move to make it easier for first-time home buyers to break into the world’s least-affordable housing market has had an immediate effect, with sales surging in the past two weeks. Sales in the secondary market have more than doubled since mortgage rules for first-time buyers were eased mid-October, Midland Realty Ltd said. Primary home sales are also ...

Bloomberg Once-popular loan Americans use to finance home renovations and college tuition is slowly dying, slashing a lucrative source of revenue for the nation’s largest banks. Home equity lines of credit, open-ended loans that homeowners tap for cash using their properties as collateral, exploded in the run-up to the housing crash a decade ago, doubling in volume from 2003 to ...

Bloomberg A group led by luxury property developer Nicholas Candy is considering making an offer for Capital & Counties (CapCo) Properties Plc, whose stock has cratered amid London prime real estate’s longest slump in decades. Capco’s shares rose 8% in London on Monday, valuing the firm at $2.8 billion. The stock had lost nearly half its value from its 2015 ...

Bloomberg Sales of private apartments in Singapore jumped 13% in September to the highest in more than a year even as home-price growth moderated. Developers in the city-state sold 1,270 apartments last month versus a revised 1,123 in August, according to data from the Urban Redevelopment Authority released on Tuesday. That’s the most since July 2018, when the government shocked ...

Bloomberg Singapore will spend more than S$1 billion ($728 million) on upgrading projects for public and private housing estates over the next few years, Minister for National Development Lawrence Wong said in a speech, according to the Straits Times. The projects will cushion industry partners in the current economic climate, he said at an annual gathering for the ministry, according ...

Bloomberg PropertyGuru Pte, a Singapore-based provider of online real estate classifieds, plans to raise as much as A$380.2 million ($257 million) and list on the Australian stock exchange. The shares’ indicative price range is between A$3.70 and A$4.50, giving a market capitalisation at the upper end of around A$1.36 billion, the company’s October 7 prospectus shows. A book build to ...

Bloomberg Denmark’s new left-wing government pledged tough laws to control housing costs and singled out Blackstone Group for “unsustainable” rental practices. Kaare Dybvad, the Danish housing minister, said Blackstone is “challenging” local legislation “where there are holes.” By taking advantage of those holes, the concern is that properties are being bought up and then rented out at prices that Danes ...

Bloomberg The risk of a property bubble in the euro zone surged last year as ultra-low interest rates helped drive up house prices. Munich is now the city most vulnerable to a property bubble, according to UBS Group AG’s annual Real Estate Bubble Index. Frankfurt and Paris are increasingly in danger of prices becoming unsustainable, even as some of the ...

DUBAI / WAM The Dubai Land Department (DLD), on Tuesday, announced a 134 percent increase in real estate transactions following the creation of the emirate’s new Higher Committee of Real Estate on September 2, which aims to avoid the duplication of projects in the sector and achieve a more sustainable balance between supply and demand. The committee was established by ...

Dubai / WAM In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum issued Law No. (6) of 2019 pertaining to the joint ownership of real estate in Dubai. The new law applies to all major real estate development projects and jointly owned properties in Dubai, including ...