Real Estate

  Bloomberg According to real-estate website StreetEasy, 12 of the condos in Manhattan currently listed at over $20 million have had their prices cut by 5 percent or more in recent months, while only 2 of them have seen any increase in their listing price. Among the cuts is a condo at 1 Central Park South. It’s been on the ...

  Bloomberg New Jersey’s Local Finance Board approved a plan to use an out-of-state lending agency that specializes in risky securities to finance an $800 million bond sale to resurrect American Dream, the unfinished mega mall begun more than a decade ago. The project in East Rutherford, about 10 miles (16 kilometers) west of Manhattan, has failed to fulfill several ...

  Bloomberg What is the price of a view of Paris’s best-known monuments? France’s Socialist government will tell you. For all Saint-Germain-des-Pres’ charm, long gone are the days when a tiny 11 square-meter (118 square feet) furnished studio flat commanded 656 euros ($724) in monthly rent. Real-estate agency Inter Immobilier last month had to explain to the new owner of ...

  Bloomberg Shares of Obayashi Corp. fell for a seventh day after a unit of the Japanese construction company was found to have done work on a San Francisco tower that is sinking. The shares dropped 4.9 percent to 956 yen at the close in Tokyo Tuesday after earlier falling as much as 8.6 percent, the largest decline since May ...

  Bloomberg Pakistani financier Arif Habib’s bet on Karachi’s real estate is paying off as land prices in the nation’s financial capital surge amid rising demand and an improving security situation. Prices for Habib’s development in a 1,300-acre property at the northern tip of the city have more than doubled since 2012. Habib’s Javedan Corp.’s project called Naya Nazimabad offered ...

  Bloomberg Billionaire Uday Kotak’s property fund is predicting a prolonged slump in India’s residential markets as home prices near record levels have crimped affordability, driving sales down. Residential markets across cities have slowed down, with the National Capital Region, comprising Delhi and its surrounding areas, being most hurt, according to Vikas Chimakurthy, senior executive director of the Kotak Realty ...

  Bloomberg Hong Kong real estate shares haven’t been this hot since the city’s last housing bubble burst almost two decades ago. The industry’s benchmark equity gauge has surged 37 percent from this year’s low in January, climbing to the highest level versus Hong Kong’s Hang Seng Index in 19 years on July 29. The last time property companies performed ...

  Bloomberg Hong Kong’s biggest developer, Sun Hung Kai Properties Ltd., outbid 10 other companies with a HK$2.4 billion ($305 million) offer for a site, as builders selectively add to their land banks. The price for the land offered by the government in the New Territories district works out to about HK$5,450 per square foot of saleable area, according to ...

  Bloomberg Russia and Iran agreed to strengthen transport connections, including a potential railway link through Azerbaijan that would aim to grab a share of the cargo now being shipped through the Suez Canal. Russian President Vladimir Putin and his Iranian counterpart, Hassan Rouhani, discussed the plan during a rare joint visit to Azerbaijan on Monday. The fight against terrorism ...

  DETROIT / AP Ann and Oscar Mack had fallen behind on property taxes and knew they faced foreclosure on their home of 20 years. But they didn’t know their house on Maiden Street, in a blighted east side Detroit neighborhood, was already listed for auction. No one “let us know we were about to lose our house,” Ann Mack ...