Blackstone Group LP, the world's largest private equity firm is expected to be the next firm that will acquire the 11,000 apartment complex in Manhattan's Stuyvesant Town. Although the deal is not official yet, news has been circulating that the complex will be acquired by the firm for a value around $5.3 billion.
Real Estate
Will the government revise its plans to revive Singapore’s private housing downfall?
The Singapore government had slammed certain caps on private housing sector, to cool an overheated market. This has been a rising concern for the city builders, especially after Singapore recorded a repetitive falling graph for 17 years running. However, it remains to be seen if the government deems fit for the bans to be lifted given the current residential property scenario.
Lower oil prices to check inflation in Kenya
The Kenyan government is hoping to control inflation rate with the support from lower oil prices. Lower oil prices are supporting the Kenya's economy as the growth rate is expected to be six percent in 2016 from 4.5 percent in 2015. Inflation rate breached the government's target band of 2.5 percent to 7.5 percent as it reached to eight percent.
Millennials prefer rented accommodation in London
Rents in London were up over eight percent, while overall national average was 4.8 percent in 2015. Majority of millennials prefer rented accommodation rather than buying a house or flat. Millennials are not bothered about maintenance works and other mortgage tension these days. The Generation Rent also considers buying a property is very expensive.
Will Overvalued US Real Estate Burst Anytime?
Economists express concerns over the repetition of property bubble in the US market as it's overvalued. Analysts estimate that the real estate is overvalued in the range of 25 percent to 60 percent considering the average price and average income in a particular area. However, the US property market is attracting more foreign investment and it's forecast to be higher than in 2015.
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Though US business investment marginally eased in August, the new home sales on the upward move during August. The latest data for August indicates that the US economy is not impacted much in line with ongoing global unrest. The US economy is growing as per the forecast for GDP growth rate of 1.4 percent for the third quarter. Barring aircraft and defense equipment, business investment showed a marginal drop of 0.2 percent during the month. The August' drop comes close after gains in July that were considered to be the biggest upward movement in the year boosting business confidence that American corporate sector is not disturbed by the sluggish global economy. New home sales in August rose 5.7 percent to annual growth of 552,000 indicating highest level since 2008. This growth in home sales was higher than the forecasts.
America's total wealth in Q2 increased even more, thanks to the stronger housing market. The value of owner-occupied real estate hit $21.5 trillion, up more than $400 billion from Q1 and nearly $4.5 trillion since the low point in 2011, according to the Federal Reserve report on Friday, as reported by CNNMoney.
The china's economy slowdown is likely to continue for next three years, predict real-estate developers. The robust growth has led cities to emerge as major infrastructure built up ones. There's opportunity in smaller cities though they can't offer the kind of growth witnessed in cities like Beijing and Shanghai.
As the supply for homes being sold goes down, statistics suggest an increase of potential buyers. This could lead to boom in house prices. Statistics from the Royal Institution of Chartered Surveyors (Rics) this week expects to see a surge in potential new home buyers as reported by This Is Money. As supply of houses being sold is dwindling, another boom in house prices could well be on the way.
The London property market that's been a favorite global hotspot for years, is fast losing its sheen as British pound becomes stronger, while emerging economies currencies are turning out to be weaker.
A floating pool made of glass is planned to be constructed between apartment blocks in Nine Elms quarter, London. The area is nearby Battersea Power Station. The pool will be suspended ten storeys above London.
The Federal Housing Finance Agency seeks to have housing finance giants Fannie Mae and Freddie Mac to offer more support for American families with low income who are taking out mortgages and are refinancing their home loans.
The Bureau of Economic Analysis (BEA) released its second quarter advance GDP report, fund inflows into office space segment (commercial construction) is on recovery path, but still showing pressure as it hovering about 33% lower than the recent peak level in terms of GDP percentage.
Real estate homes in Baltimore, Maryland plunges to nearly 7 percent in June, considered the lowest level during the seven-month period where the adjusted annual rate is around 482,000.
