Canadian home sales, prices surge to new record in March – ET RealEstate

OTTAWA: Canada‘s average home selling price soared an eye-watering 31.6% year-over-year in March, hitting a new high as sales also climbed to a new all-time record, the Canadian Real Estate Association (CREA) said on Thursday. National home sales rose 5.2% in March from February, as more supply came to the market and was quickly snapped […]

Spain to extend eviction ban, rental protections by three months – ET RealEstate

MADRID: Spain will extend a series of measures aimed at protecting vulnerable tenants from eviction and rent hikes by three months, Prime Minister Pedro Sanchez said on Wednesday, as the pandemic continues to hurt the economy. “The coalition government is committed to … ensuring the constitutional right to decent housing,” Sanchez, a Socialist, told lawmakers. […]

Pandemic impact may weigh on commercial real estate recovery in US – ET RealEstate

LOS ANGELES: The distribution of COVID-19 vaccines is fueling optimism that Americans will increasingly return to the ways they used to shop, travel and work before the pandemic. That would be a welcome change for companies that own office buildings and hotels, or those that lease space to restaurants, bars, department stores and other retailers. […]

Record rise in Swedish house prices raises overheating fears – ET RealEstate

STOCKHOLM: The price of single family homes in Sweden rocketed 17% in the first three months of the year, data showed on Wednesday, increasing concerns that the market is overheating. The rise was a record, according to Svensk Maklarstatistik, an association of real estate agents, since it started collecting data in 2005. Apartment prices rose […]

China’s home prices extend gains in March, defy renewed curbs: Survey – ET RealEstate

BEIJING: China‘s monthly new home prices maintained steady growth in March, while the resale housing market also saw an uptick, despite a renewed crackdown on property speculation, a private-sector survey showed on Thursday. New home prices in 100 cities rose 0.2% in March from a month earlier, unchanged from February’s pace, according to data from […]

Brookfield Asset to buy remaining stake in real estate unit for $6.5 billion – ET RealEstate

BENGALURU: Canada‘s Brookfield Asset Management Inc would buy the remaining stake it does not already own in its commercial real estate business Brookfield Property Partners for about $6.5 billion, the companies said on Thursday. The deal was a raise from the $5.9 billion the alternative-asset manager offered in January this year. The COVID-19 pandemic has […]

States in US struggle to get rent relief to tenants amid pandemic – ET RealEstate

Representative image Gov. Andrew Cuomo announced last July that New York would spend $100 million in federal coronavirus relief to help cash-strapped tenants pay months of back rent and avert evictions. By the end of October, the state had doled out only about $40 million, reaching 15,000 of the nearly 100,000 people looking for help. […]

Ireland looks to pubs, derelict buildings to boost remote working outside cities – ET RealEstate

DUBLIN: Ireland will turn vacant buildings in rural towns into remote working hubs and examine whether pubs could be used as workspaces during quiet afternoons in a bid to encourage more people to live outside big cities. Describing the pandemic-driven move towards remote working as a potential “game-changer” for struggling towns and villages, the government […]

UK: Student housing provider Unite Group sells eight properties for $183 million – ET RealEstate

BENGALURU: Unite Group said on Tuesday it had sold eight properties for 133 million pounds ($183.15 million) to Aventicum Real Estate, as the British student housing provider turns its focus to high- and mid-tier universities. Unite, which reported a wider 2020 pre-tax loss of 120 million pounds earlier this month, had said it was targeting […]

Hong Kong home prices rise 0.9% in February; fastest pace in 9 months – ET RealEstate

HONG KONG: Hong Kong private home prices rose 0.9% in February from the previous month, their fastest pace of growth since May, official data showed on Monday, supported by improved sentiment that new coronavirus vaccines will speed up the economic recovery. The gain in the most unaffordable property market in the world last month compared […]