Bloomberg After four years of crammed open houses, heated competition and dizzying price gains that sent the median cost of a home to $1.2mn, San Francisco’s real estate market is starting to lose steam. The inventory of luxury homes is at a record high. A smaller share of deals have bidding wars. Rent growth for large and upscale apartments ...

  Bloomberg New-home construction in the U.S. was little changed in May, a sign the residential real-estate industry will add little to economic growth in the second quarter. Housing starts in May fell 0.3 percent to a 1.16 million annualized rate from a 1.17 million pace the prior month, a Commerce Department report showed in Washington. Progress in residential real ...

  Bloomberg London’s housing market is facing a “major shock” as private landlords offload properties because tax increases will reduce returns on their investments to near zero, according to analysts at Deutsche Bank AG. New lending rules will also severely restrict the ability of investors, who have accounted for about 40 percent of purchases in recent years, to fund property ...

  Bloomberg China’s home prices rose in fewer cities in May than the previous month, with gains in some second-tier locations surpassing those in Shanghai and Shenzhen. New-home prices excluding affordable homes climbed in 60 cities, down from 65 in April, among the 70 tracked by the government, the National Bureau of Statistics said on Saturday. They dropped in four ...

  Bloomberg Banco Popular Espanol SA raised €2.5bn from a sale of new shares, as the Spanish lender seeks to draw a line under losses stemming from the country’s property crash. Popular sold 2 billion new shares in the capital increase, which attracted total investor demand of €3.4 bn, or 136% of the amount raised, the bank said. Popular is ...

  Bloomberg By the time interior designer Jacques Grange first entered the contemporary, bayside house at 1320 Flying Point Road, it was nearly complete. What he saw was “like a boat, very pleasant but dominating the view,” he said from his Paris office during a phone call. His decorating approach—chairs by Marcel Breuer, a sofa by Tobia Scarpa, and light, ...

  ABU DHABI / WAM Foreign investors purchased AED 570.7.2 million worth of shares on Dubai Financial Market (DFM) and sold AED 666.5 million over the week, DFM said on Thursday. Net foreign investment on the market reached AED 95.7 million, as aggregate sell. Value of shares bought by foreigner investors comprised 44.4 per cent of the total value of ...

  Paris / EMIRATES BUSINESS The Abu Dhabi National Exhibitions Company (ADNEC) pavilion showcasing the International Defence Exhibition & Conference (IDEX) and the Naval Defence Exhibition (NAVDEX) has drawn high interest from key exhibitors and decision makers in the global defence industry at the Eurosatory 2016 currently underway in the French capital Paris. Held under the patronage of His Highness ...

  Dubai / WAM Microsoft opened a new centre of excellence for the oil & gas industry in Dubai. The Middle East and Africa centre has been launched to assist organisations in the sector to drive digital transformation, cut costs and optimise processes in their organisations. The centre, which is the largest such facility for Microsoft globally, will focus on emerging ...

  Dubai / Emirates Business FGB, one of the leading banks in the UAE, is celebrating after its Ferrari card was recognised as the ‘Best Premium Credit Card’ at the 2016 Smart Card and Payments Awards for the second year in a row. Bank representatives received the award during a ceremony which recently took place at the Armani Hotel in ...