Real Estate

  AFP Four lucky competition winners are set to be the first people in history to use the Eiffel Tower as a vacation home next month. Rental company HomeAway is taking over part of the first floor of the iconic 300-meter (yard) landmark for the duration of the UEFA Euro 2016 soccer tournament in Paris, and transforming it into Hausmannian-style ...

  Bloomberg A luxury-condo project planned for the lower Manhattan site of what was once to be the “Ground Zero mosque” has received $219 million in financing from an international consortium of lenders, paving the way for 50 high-end units to enter a New York market that is growing heavy with them. Developer Soho Properties, led by Sharif El-Gamal, said ...

  BLOOMBERG British house prices would take a severe blow in the years immediately after a vote to leave the European Union, according to an analysis by the Treasury. The study concludes that prices would be between 10 percent and 18 percent lower by 2018 relative to their performance inside the EU, according to the Treasury. However, Chancellor of the ...

  Bloomberg Japan’s biggest real estate companies are borrowing record amounts of cheap cash to pay for the nation’s tallest skyscrapers yet. Mitsubishi Estate Co. plans to build a 390 meter (1,280 feet) tower with 61 floors above ground in front of Tokyo Station, making it the nation’s biggest building. That and 27 other urban renewal projects in Japan’s capital ...

  AFP Nancy Kidwell is a modern-day pioneer of the American desert, a rough-riding frontierswoman who built an entire town amid the lonely Yucca trees and sturdy sagebrush, where nothing existed before. A half-century ago, Kidwell and first husband Slim turned a triangle-shaped gravel airstrip abandoned by the US military into a thriving community that featured a casino, store, camper ...

  Bloomberg Increasing infrastructure investment is the best way to boost economic growth in China and doing so doesn’t undermine efforts to overhaul the economy, according to former central bank adviser Yu Yongding. “If China does not increase infrastructure investment now, it may miss a historical opportunity,” Yu said on Saturday at an economics conference in Beijing. “In order to ...

  Bloomberg New York luxury-condo builder Extell Development Co. says it’s taking longer than expected to obtain construction financing for its One Manhattan Square project as lenders pull back from the market. Extell had anticipated getting a construction loan for the downtown project by the beginning of June, as a condition of closing a separate financing deal with RXR Realty ...

  Bloomberg When interior designer Timothy Corrigan bought Château du Grand-Lucé, an 18th century neoclassical mansion in France’s Loire Valley, for €2.2 million ($2.46 million) in 2005, “I figured I’d be there at least one weekend a month,” he said. “Last year, I was there a total of six days. This year, I haven’t been there once.” Now he’s putting ...

  Bloomberg The Ibovespa extended a weekly drop as mining company Vale SA tumbled and real-estate companies slumped after a report that the government may cut the number of units to be built under its housing program. Vale was among the biggest contributors to the index’s slide on Friday amid lower metal prices. The BM&FBovespa Real Estate Index of 14 ...

  Bloomberg Expat housing packages are so 2012. Long the golden privilege of the Hong Kong-based finance and banking crowd in Asia, the days of guaranteed housing allowances fat enough to rent a 4,000-square-foot harbor-view home on the Peak or a townhouse in exclusive Repulse Bay for HK$300,000 ($38,650) a month are gone. That perk is being slashed or eliminated, ...