Real estate
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 […]
Read More
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 / […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
You can buy mansions in these Mediterranean countries for the price of a studio in New York
The median price per square foot in Manhattan, NY is $1,500, according to My Dolce Casa. Alexander Spatari | Moment | Getty Images Manhattan, New York is infamous for being expensive. The city consistently ranks as one of the world’s most costly places to live in. Purchasing a 500-square-foot condo in New York City can […]
Read More
Home prices hit record high in June on S&P Case-Shiller Index
Even as mortgage interest rates were rising, home prices reached the highest level ever on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. On a three-month running average ended in June, prices nationally were 5.4% higher than they were in June 2023, according to data released Tuesday. Despite being a record high for the […]
Read More
BHP CEO expects a turnaround in China’s property sector in year ahead
Key Points BHP’s CEO Mike Henry said he expects China’s property sector to rebound in the upcoming year on the back of favorable government policies. While acknowledging that the country’s property sector is a “weak point” for steel demand, Henry is optimistic about Chinese government measures announced recently. “The government has enacted policies recently that […]
Read More