Real Estate

  Bloomberg Brazil’s Itau Unibanco Holding SA plans to move out of its New York City office on the 50th floor of the General Motors Building, which features views of Central Park and some of the highest rents in Midtown, a person familiar with the matter said. The firm, Latin America’s biggest bank by market value, is searching for a ...

  Bloomberg It’s not an accident that Manhattan’s newest senior living facility will rise just blocks away from the gilded co-ops of Park Avenue. Their residents might live in the building someday. Welltower Inc., the biggest U.S. senior-housing owner by market value, is seeking to push into New York, where there’s a dearth of options available for the elderly and ...

  Bloomberg U.K. house prices fell in April after a surge of rental investors rushing to beat a tax change bolstered the market earlier in the year, according to Halifax. Average values dropped 0.8 percent from March, the mortgage lender said in a statement on Monday. That reduced the annual gain to 7.8 percent from about 11 percent. On a ...

  Reuters British finance minister George Osborne said that homeowners would face a “significant hit” from lower house prices and higher mortgage costs if voters decided to leave the European Union in a referendum in June. “This isn’t just a big question about who we are as a country. This goes to the heart of people’s financial security,” Osborne said ...

  Bloomberg Two of Australia’s largest lenders, which tightened home loans to some foreigners, said they uncovered mortgages backed by questionable overseas-income documentation. Australia & New Zealand Banking Group Ltd. and Westpac Banking Corp. have identified issues with some loans that rely on foreign income for approval, the two lenders said in separate e-mails. The statement comes after the two ...

  Bloomberg After almost four years of negative interest rates, Danish policy makers need to act now to prevent a housing bubble, according to the IMF. “We strongly encourage the authorities to take early action to lean against the wind on house price increases,” David Hofman, IMF mission chief to Denmark, said. “We see a need for action on a ...

  Bloomberg Governor Chris Christie’s warning of Hurricane Sandy-like destruction of the New Jersey shore will be tested as the worst storm season in three years approaches and beachfront homeowners delay his building protective dunes along all 127 miles of the state’s coast. Christie, a second-term Republican, has been battling with property owners in court over his plan to erect ...

  Bloomberg Investment Corporation of Dubai (ICD), the investment arm of the Dubai government, has agreed to the purchase of the Porto Montenegro Marina and Resort in Montenegro. ICD which is building its hospitality portfolio and holds a significant equity stake in Kerzner International Holdings, founded by South African entrepreneur Sol Kerzner and the operator of the One&Only, Atlantis and ...

  Reuters After weeks of acrimonious headlines and months of finger-pointing, there’s been a few developments that should eventually help ease skyrocketing Vancouver home prices. At the end of March, the president of Real Estate Board of Greater Vancouver (REBGV), the provincial trade association that represents British Columbia (BC) ’s realtors, wrote an open letter to B.C. Premier Christy Clark, ...

  Bloomberg If you win big this weekend at the Kentucky Derby (like, really big) and want to park those winnings in some real estate, you may be in luck. The luxury market has surpassed pre-crash heights in many arenas, but relative bargains in horse-centric properties are still possible. “Equestrian properties in really desirable areas are still probably 20 percent ...