Real Estate

  Bloomberg Australia’s Victoria state is “very confident” the winning bid for a 50-year lease to operate the Port of Melbourne, which is valued at between $4 billion and $6 billion, will exceed the book price, state Premier Daniel Andrews said. “All the market expectation, all the commentators talk about us exceeding the price that we’ve booked, and we are ...

  Bloomberg Sydney’s home values posted the biggest rise in 10 months in May, as lower mortgage rates and a partial easing of lending standards revived buyers’ appetite. Prices in the nation’s largest city climbed 3.1 percent in May, the fifth straight month of gains and the most among state capitals, according to research firm CoreLogic Inc. The increase, the ...

  Bloomberg Apartment owners with properties in San Francisco and New York tumbled after landlord Equity Residential said new leases in those cities — two of the most expensive U.S. rental markets — are falling short of revenue expectations. Essex Property Trust Inc., a real estate investment trust focused on the West Coast, slid 3.7 percent for the biggest decline ...

  Bloomberg Developers are in preliminary discussions to re-stoke urban development on vacant land west of the Piemonte at Ontario Center shopping center. The area — north of Citizens Business Bank Arena and south of Fourth Street in Ontario — had been planned as a 24-hour hub of activity filled with residents who would be drawn to the restaurant and ...

  Bloomberg U.K. housing activity may cool in the coming months after the rush to beat a tax increase boosted the market in the first quarter, though prices should continue to rise, Nationwide Building Society said. The average price of a home rose 0.2 percent to 204,368 pounds ($296,000) in May, matching the pace in April, the lender said on ...

  Bloomberg Hot housing markets in Vancouver and Toronto prompted Bank of Nova Scotia to ease off on mortgage lending in those cities, Chief Executive Officer Brian Porter said. “We’re a little concerned about housing prices in the greater Vancouver area and Toronto,” Porter, 58, said in an interview on Bloomberg TV Canada. “We just took our foot off the ...

  Bloomberg The U.S. Supreme Court gave landowners a new avenue to challenge some federal regulatory decisions affecting their property rights, in a case that three conservative justices said raised troubling questions about government overreach. The 8-0 ruling said landowners can go straight to court after federal regulators decide that a piece of property containing wetlands is covered by the ...

  Bloomberg Memo to Hong Kong developers calling for the government to ease property curbs amid a slump in home prices: Don’t hold your breath. Declines in the residential property market have to get a lot worse before Hong Kong’s lawmakers would consider rolling back measures they introduced more than five years ago to rein in prices, according to eight ...

  Bloomberg Credit rating companies are warning that the financial health of property developers in China is deteriorating even as the nation’s real estate market shows signs of recovery. Fitch Ratings said on Tuesday that a divergence in the performance of Chinese developers is driving more rating downgrades and outlook cuts in the industry, while S&P Global Ratings issued a ...

  Bloomberg After two decades trying to make a life in China’s entrepreneurial city of Wenzhou, Ji Shouquan and his brother Shoufang are ready to head home. They say they have no hope of stepping onto the city’s housing ladder and it is getting more difficult to earn a decent wage. China is relying on millions of internal migrants taking ...