US Property

25pc rise in US commercial property purchases by international investors

Offshore buyers seek high US yields.

Singaporeans, South Koreans, Israelis and Norwegians are accelerating purchases of US real estate, as a growing economy and rebounding prices lure yield-hungry buyers from overseas.

Wednesday, 12 June, 2013, 4:07am

Carlyle Group sells prime office tower in Manhattan for US$1.3 billion

The tower at 650 Madison Avenue in Manhattan. Photo: Bloomberg

Carlyle Group's US$1.3 billion deal to sell 650 Madison Avenue will set a record based on the per-sq-ft price for the office tower, driven by its retail space in the heart of midtown Manhattan's Plaza district.

5 Jun 2013 - 4:40am

'Shadow' homes could burden US housing agencies, report says

'Shadow' homes could burden US housing agencies, report says

Well over a million US homeowners are months behind on payments on government-backed mortgages, raising the risk federal housing agencies will face the cost of managing a fresh flood of foreclosed homes, two government watchdogs say.

5 Jun 2013 - 4:40am

US housing supply suffers with homeowners lacking equity to sell and buy elsewhere

Las Vegas is one the major metropolitan areas in the United States with the highest negative equity rates. Photo: Getty Images

Forty-four per cent of homeowners with mortgages owed more than their properties are worth or had less than 20 per cent equity in the first quarter, the Seattle-based real estate data company said in a report.

29 May 2013 - 3:21am

Growing number of US homebuyers face shortage of properties for sale

Christian Bell and wife Beth are looking for a new home in a tight market in Grand Rapids. Photo: AP

After a decade as someone else's tenant, the Bells, like a rising number of Americans, are finally ready to buy a home. Yet they're running into an obstacle that's keeping the national housing recovery in check: there aren't enough homes for sale.

8 May 2013 - 2:33am

Sun shines on Miami real estate sector

Downtown Miami, Florida, where the real estate market has recovered like nowhere else in the United States. Photo: Reuters

Like the tide that laps Miami, Florida's famous coastline, the property cycle in America's "sunshine state" does tend to ebb and flow. The difference is that with real estate, you can never pick exactly when.

24 Apr 2013 - 5:20am

Manhattan apartment rents rise sharply, close on record

Manhattan rents close to hitting new high

The median monthly rent climbed 6.7 per cent from a year earlier to US$3,195, according to a report last week by appraiser Miller Samuel and brokerage Douglas Elliman Real Estate. The number of new leases signed was up 10 per cent year on year at 3,697.

17 Apr 2013 - 5:31am

House price gains signal end of US rental bonanza

Blackstone has spent more than US$3.5 billion to buy 20,000 US homes to use as rentals.

Rents for single-family homes are rising more slowly than property prices as firms such as Blackstone Group flood the market with homes for lease, posing risks to investors betting billions on the burgeoning market.

20 Mar 2013 - 5:22am

US home prices set for 8pc surge, says Bank of America report

A shortage of homes for sale is pushing up prices. Photo: AFP

Low interest rates, a tight inventory of properties for sale and record affordability are fuelling accelerated price gains, Michelle Meyer, a Bank of America economist, and Chris Flanagan and Justin Borst, mortgage-backed securities strategists, said in a note to investors entitled "Someone say house party?"

13 Mar 2013 - 5:06am

New US housing starts expected to have cooled in January, analysts say

US market probably cooled in January. Photo: AFP

Builders started work on 920,000 houses at an annual rate following December's 954,000 pace, which was the fastest since June 2008, according to the median forecast of 73 economists surveyed by Bloomberg before Commerce Department data is released later today. 

20 Feb 2013 - 4:40am

Property Digest, February 6, 2013

Hong Kong home prices are likely to rise or fall no more than a mild 5 per cent thisyear. However, limited supply will drive up rents by about 10 per cent, according to Knight Frank.

6 Feb 2013 - 4:59am

US mortgage giants offer incentive to walk away from home loan debt woes

Prices are recovering after the worst foreclosure crisis since the Great Depression. Photo: Bloomberg

Non-delinquent borrowers with illness, job changes or other reasons they need to move will become eligible in March to apply for a so-called deed-in-lieu transaction that erases the shortfall between a property's value and the size of its mortgage. It follows a change in November that lets on-time borrowers sell properties for less than they owe, known as short sales, wiping out the remaining mortgage debt. Normally, the lenders could pursue people to recoup their losses.

30 Jan 2013 - 4:07am

Probable US home sales rise points to recovery

Combined purchases of new and existing properties climbed to a 5.49 million annual rate last month, the highest level since November 2009. Photo: Bloomberg

Sales of US homes probably rose in December to the highest level in three years as the industry headed toward a more rooted recovery in 2013, economists said before reports this week.

23 Jan 2013 - 4:47am

Business Digest, November 29, 2012

The China Securities Regulatory Commission has received 145 complaints this year about insider dealing, Tong Daochi, the CSRC's director general of international affairs, said at a meeting in Hong Kong.

29 Nov 2012 - 3:46am

Superstorm Sandy slams New Jersey's struggling housing market

Hurricane Sandy left a trail of shattered homes in New Jersey. Some had only just been rebuilt after Hurricane Irene. Photo: Bloomberg

Cody Buck rebuilt his home in Sayreville, New Jersey, after Hurricane Irene knocked it down last year. A week ago, Buck showed New Jersey Governor Chris Christie how superstorm Sandy had destroyed the house again.

7 Nov 2012 - 3:16am