Dubai / Emirates Business Emaar Hospitality Group, the hospitality and leisure business of global developer Emaar Properties, on Wednesday announced that it will open four new hotels in Dubai under its premium luxury Address Hotels + Resorts and upscale lifestyle Vida Hotels and Resorts, this year. Further, Rove Hotels, the joint venture of Emaar Properties and Meraas, will open a ...
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UK home prices stagnate as buying activity plunges
Bloomberg UK house prices stagnated in March as the number of transactions plunged, according to LSL Acadata. Values were flat on an annual basis last month as falls in London and southern England offset gains elsewhere, the firm said in a report. In March alone, prices rose just 0.1 percent, and transactions fell a seasonally-adjusted 15 percent, despite the month ...
Read More »US housing starts fall to weakest pace since 2017
Bloomberg US new-home construction unexpectedly fell in March, decelerating to the slowest pace since May 2017 and suggesting builders remain wary even as lower mortgage rates and steady wage gains offer support to consumers. Residential starts fell 0.3 percent to a 1.139 million annualised rate after a downwardly revised 1.142 million pace in the prior month, according to government figures ...
Read More »China home price growth accelerates
Bloomberg New-home price growth in China snapped a four-month weakening streak, one of the first official signs there may be a widespread recovery in the nation’s housing market. The value of new homes, excluding government-subsidised housing, gained 0.61 percent on average in March from February in 70 major cities tracked by the nation’s statistics bureau, official data released showed. That ...
Read More »Singapore home sales surge as developers market new projects
Bloomberg Private-home sales in Singapore soared in March as developers marketed more projects after a typically slower February that included the Chinese Lunar New Year holiday. Developers sold 1,054 units last month, more than double the 455 in February, the Urban Redevelopment Authority said in a statement. Residential home prices decreased for a second straight quarter in the three months ...
Read More »Canadian home building rebounds from deep freeze
Bloomberg Canada housing starts rebounded in March from a sluggish performance a month earlier, returning to levels more in line with demographics and highlighting the buoyancy of the nation’s battered real estate market. Builders started an annualised 192,527 homes in March, the Canada Mortgage and Housing Corp. reported. That’s up from 166,290 a month earlier, when excessively cold weather slowed ...
Read More »Singapore REIT mergers may accelerate after key OUE deal
Bloomberg Talk of consolidation among Singapore real estate investment trusts ramped up after the regulator strengthened rules governing the market in 2015. Four years on, it’s finally happening. OUE Commercial REIT said it had agreed to buy OUE Hospitality Trust to create one of Singapore’s 10 biggest REITs, giving the combined entity greater firepower to make acquisitions. It’s also the ...
Read More »India’s first REIT rises on trading debut
Bloomberg India’s first real estate investment trust, the Blackstone Group LP-backed Embassy Office Parks, rose on its trading debut, in a vote of confidence for a potential new funding avenue for the nation’s cash-strapped developers. The REIT units climbed as much as 8.3 percent before closing 4.7 percent higher at 314.10 rupees in Mumbai. The benchmark S&P BSE Sensex Index ...
Read More »Swiss real estate in spotlight for wrong reasons
Bloomberg Switzerland’s property-market watchdogs aren’t likely to catch a break. With European interest rates set to remain low for even longer, that’s going to further fuel the ongoing exuberance in Swiss real estate that’s seen multiple warnings this month alone. The issue is particularly acute in buy-to-let properties, as insurers and pension funds look to compensate for otherwise meager returns. ...
Read More »Brexit housing fears stay in London as regions catch up
Bloomberg The Brexit-inspired decline in London’s property values has yet to cause any serious ripples in other areas of the UK. While price-growth and activity may be slowing amid the uncertainty, almost every other major urban area in the country is still experiencing a rising market, according to Acadata. It’s a national divide that’s all too apparent to real estate ...
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