Home sales in Canada fall for the third consecutive month in June – ET RealEstate

OTTAWA: Canada‘s scorching hot housing market is starting to cool, as burned-out buyers shift their focus from getting more space to getting back to normal after COVID-19, and the fear of missing out fades into a prevailing sense of “wait and see.” Home sales in Canada fell for the third consecutive month in June and […]

Home price growth slows in China in June 2021 – ET RealEstate

BEIJING: China‘s new home price growth slowed for the first time since November last year in month-on-month terms, data showed on Thursday, as government measures to cool a hot housing market finally triggered a weakening in gains. Average new home prices in 70 major cities grew 0.5% in June from a month earlier, down from […]

Boston Properties partners with GIC, Canada pension fund to buy offices in U.S. – ET RealEstate

Representative Image Boston Properties said it has established a partnership with a potential spending power of up to $2 billion with Canada Pension Plan Investment Board and Singapore’s sovereign wealth fund GIC to acquire office properties in the United States. The partners will aim to contribute a total of $1 billion of equity to the […]

Dutch house prices rise as never before as property boom continues – ET RealEstate

AMSTERDAM: House prices in the Netherlands jumped an unprecedented 20% on a yearly basis in the second quarter, as low interest rates and a shortage of houses continued to fuel an already overheated property market, the Dutch association of realtors (NVM) said on Thursday. The average selling price for a house in the Netherlands surged […]

Ireland to reduce maximum rent increases in designated zones – ET RealEstate

DUBLIN: Ireland will significantly reduce the maximum annual increase in residential rents allowed in designated “Rent Pressure Zones”, the government announced on Thursday in a move to tackle surging housing costs. Landlords in the designated zones, which cover many of Ireland’s urban areas under 2016 legislation, are currently limited to annual rent increases of 4%. […]

Kennedy-Wilson buys 1.5 lakh sq ft office building in London for $252 million – ET RealEstate

Representative Image BENGALURU: Kennedy-Wilson Holdings Inc said on Tuesday it had bought an office building in London for $252 million as it reshuffled its assets, betting on a rebound in workspace demand in the global financial hub, after the pandemic and Brexit hit property valuations in the city. The U.S.-based real estate investment firm’s purchase […]

Offices after covid: Wider hallways, fewer desks – ET RealEstate

Representative Image GRAND RAPIDS: The coronavirus already changed the way we work. Now it’s changing the physical space, too. Many companies are making adjustments to their offices to help employees feel safer as they return to in-person work, like improving air circulation systems or moving desks further apart. Others are ditching desks and building more […]

California weighs extending tenant eviction protections past June – ET RealEstate

  SACRAMENTO: Gov. Gavin Newsom says California will pay off all the past-due rent that accumulated in the nation’s most populated state because of the fallout from the coronavirus pandemic, a promise to make landlords whole while giving renters a clean slate. Left unsettled is whether California will continue to ban evictions for unpaid rent […]

US: Average mortgage rates tick lower; 30-year loan at 2.96% – ET RealEstate

Mortgage rates remained near historic lows this week. The benchmark 30-year home loan held below the 3% mark amid further signs of the economy’s recovery from the pandemic recession. Mortgage buyer Freddie Mac said Thursday the average for the 30-year rate loan dipped to 2.96% from 2.99% last week. The rate for a 15-year loan, […]

IWG forecasts profit in 2021 will be well below crisis-hit 2020 – ET RealEstate

BENGALURU: Office space provider IWG warned on Monday that its 2021 core earnings will be well below last year’s crisis-hit level as continuing curbs in some markets and new COVID-19 variants derail recovery, sending its shares as much as 16% lower. The grim forecast in an unscheduled trading update underlines the challenges facing an industry […]