Real estate
Britain’s Rightmove rejects $7.3 billion takeover offer from Murdoch’s REA Group
John Keeble | Getty Images News | Getty Images Australian property listing firm REA Group said on Wednesday that Britain’s largest real estate portal Rightmove had rejected its 5.6 billion pounds ($7.32 billion) cash-and-stock takeover offer. REA, which is 62% owned by Rupert Murdoch’s News Corp , did not cite any reason for the offer’s […]
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Sales of $10 million homes surge in Palm Beach and New York
Tarpon Island, a private island in Palm Beach, Florida, sold for $150 million in May 2024. CNBC A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Sales of ultra-luxury homes surged in […]
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Big Lots files for bankruptcy protection, sells to private equity firm as it promises to keep offering ‘extreme bargains’
A Big Lots store in Los Angeles, Sept. 7, 2024. Discount home goods retailer Big Lots Inc. filed for Chapter 11 bankruptcy protection on Sept. 9, 2024, indicating it plans to close nearly 300 stores and continue operating. Eric Thayer | Bloomberg | Getty Images Discount home goods retailer Big Lots filed for bankruptcy protection […]
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China’s property market has ‘not found a bottom’ yet, Standard Chartered CEO Bill Winters says
China’s property market has still not found a bottom despite all the turmoil in the past year, according to Standard Chartered CEO Bill Winters. Speaking to CNBC’s JP Ong, Winters described the investing environment in China as “difficult,” explaining that consumer confidence and international investor confidence was relatively low. “We know that the underlying source […]
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Home listings are up more than 60% in some cities. Here’s where
A for sale sign is displayed outside of a home for sale on August 16, 2024 in Los Angeles, California. United States real estate industry rules governing agent commissions will change on August 17 as part of a legal settlement between the National Association of Realtors and home sellers. (Photo by Patrick T. Fallon / […]
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Millionaires are moving to these 5 European cities — and London doesn’t make the list
Pascale Gueret | Istock | Getty Images Millionaires are eyeing up European cities as they look to relocate — but London doesn’t make the top five, according to a new report. Some 83% of high-net-worth individuals — defined as those earning $1 million or more — who are considering moving countries favor city living for […]
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London landlords sell up properties at record rates ahead of anticipated tax hikes
Close-up and side view of classic Georgian buildings in London, England, UK. Colors Hunter – Chasseur De Couleurs | Moment | Getty Images LONDON — London landlords are selling up their buy-to-let properties at record rates as anticipated tax hikes from the U.K. Labour government add further pressure to the once lucrative investment sector. Almost […]
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Mortgage refinance demand is 94% higher than a year ago, as interest rates fall again
File photo Patrick T. Fallon | Bloomberg | Getty Images Mortgage demand is now heavily skewed toward refinancing, as interest rates declined for the fifth straight week. Total mortgage application volume rose just 1.6% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate […]
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Rupert Murdoch’s property group considers bid for UK’s Rightmove, sending shares 23% higher
Rupert Murdoch, chairman emeritus of media empire News Corp. Axelle/bauer-griffin | Filmmagic | Getty Images LONDON — Rupert Murdoch-owned REA Group said Monday it is contemplating a takeover offer for U.K. property portal Rightmove in a bid to create a global digital real estate business. The Australian property listings company, which is controlled by Murdoch’s […]
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The ‘rent-first’ lifestyle is catching on. From cars to clothes and even caskets, here’s when it makes sense to buy vs. rent
Owning isn’t always what it’s cracked up to be. For many reasons — including affordability — more Americans are choosing to rent everything from cars and apartments to clothing and furniture these days, according to a report by Intuit Credit Karma. Far beyond the traditional tuxedo, the rental industry has expanded in recent years to […]
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