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Regional Real Estate News

Last Updated April 18, 2014 9:30 AM ET
North America

California's housing market ticked upward in March to reach the highest level in four months.

The average for fixed-rate mortgages in the U.S. further dipped for the second consecutive week.

9.1 million U.S. residential properties were seriously underwater in the first quarter of 2014.

Mortgage applications for new home purchases increased by 15 percent relative to the previous month.

All five national indices showed a drop-off for the second consecutive month.

Puerto Rico's commercial real estate market continues to go through a bumpy recovery in 2014.

I am looking to buy a home and came across a few listings in the paper for a short sale. What does that entail for me as the buyer?

The U.S. hotel industry posted positive results in the three key performance measurements during the first week of April.

Last Updated April 18, 2014 8:00 AM ET
Latin America

Central and South America's hotel development pipeline comprised of 390 hotels totaling 63,780 rooms.

There is a strong increase of new hotel development now occurring in both the Caribbean and Mexico over last year's construction activity.

Puerto Rico's commercial real estate market continues to go through a bumpy recovery in 2014.

Lima's office market is enjoying strong office demand as landlords have delivered a significant amount of new office inventory.

Panama City is enjoying an office building boom being driven by several economic factors.

Commercial property markets in Caracas, Venezuela continue to be dealing with the headwinds of political and economic uncertainty.

Bogota's commercial markets are slowing rebounding due mainly in part to both an emerging middle-class economy.

The private equity industry is finally returning in real estate markets after a long recession.

Last Updated April 17, 2014 8:30 AM ET
Europe

European real estate loan sales have started off 2014 at a frenetic pace.

The European hotel development pipeline comprises 925 hotels totaling 149,866 rooms.

France's consumer spending is expected to increase by 0.6% in Q2.

Cushman & Wakefield reports this week that UK shopping center investment turnover for the first quarter of 2014 has remained positive.

New York and London have been named as leading international cities of the world.

Hotels in Athens reported significant performance improvement in 2013.

Developers are preparing to unveil a completed project in a prestigious city palace.

Getaway cities will deliver the best growth in the next five years.

Last Updated April 18, 2014 9:00 AM ET
Middle East and Africa

Following the period of unprecedented tensions across the Kingdom of Bahrain, we are finally returning to a sustained period of stability.

While demand for Dubai's hotel rooms has been increasing in 2014, and positive revenue-per-available-room has grown, new supply has been outpacing it.

When it comes to selling luxury condos in Dubai, height matters according to international real estate firm Cluttons.

International occupiers of office and industrial space have demonstrated renewed confidence in Dubai.

Industrial investment volumes in EMEA totaled €5.6 billion during the fourth quarter, climbing 33 percent.

Global home prices experienced record growth in 2013.

Qatari property company Barwa Real Estate announced its 2013 net profit increased 21 percent.

Medinet Nasr for Housing and Development SAE announced its net profit skyrocketed 102.6 percent in 2013.

Last Updated April 16, 2014 9:03 AM ET
Asia Pacific

Asia's hotel development industry is very active these days.

This week, a SWAT police team at least 20 strong descended on the sales office of a property developer in Zhejiang Province.

A total of 39 million square meters of new shopping center space is currently under construction across the world's major cities.

Malaysia has led the way in terms of salary growth for property professionals in the last year.

Home-buyers are expected to return to India's subdued property market after the country's general elections, which start next week.

Steel prices are forecast to increase at an annualized rate of 2.2% over the next three years.

The collapse of a Chinese developer has sparked a selloff in the bonds and stocks of mainland property companies as a whole.

Private home sales in Singapore increased 28 percent in January compared to the previous month.

Real Estate Dashboard
U.S. Housing Stats Feb. 2014 Jan. 2014
Existing Home Sales (Annualized Rate) 4.60m 4.62m
Existing Home Prices (Median) $189,000 $188,900
Existing Home Inventory (all U.S.) 2.0m 1.9m
Existing Home Supply (Months) 5.2 4.4
New Home Sales (Annualized Rate) 444,000 468,000
New Home Prices (Median) $261,800 $260,100
New Home Inventory (all U.S.) 189,000 184,000
New Home Supply (Months) 5.2 4.7
Building Permits (Single Family) 588,000 599,000
Housing Starts (Single Family) 583,000 581,000
Housing Completions (Single Family) 631,000 607,000
Pending Home Sales Index (PHSI) 93.9 95.0
Home Builder Confidence Index (HMI) 46 56

Source: NAR & U.S. Commerce Department

U.S. Foreclosure Stats Feb. 2013 Jan. 2014
Residential Filings 112,498 124,419
Year Over Year % Change 10.0% 18.0%

Source: RealtyTrac

Global House Price Index (Q4, 2013)

Country Annual Price Change Quarterly Change
1. Dubai 34.8% NA
2. China 27.5% 5.0%
3. Taiwan 15.1% 2.0%
4. Estonia 14.5% 6.0%
5. Turkey 13.8% 2.9%
6. Brazil 12.7% 3.5%
7. Indonesia 11.5% 1.8%
8. Colombia 11.5% 1.9%
9. United States 11.3% -0.3%
10. Poland 10.2% 6.4%
11. Malaysia 10.1% 1.3%
12. Kazakhstan 9.4% 3.3%
13. Australia 9.3% 3.4%
14. New Zealand 9.2% 1.8%
15. Iceland 8.7% 3.2%
16. Israel 8.6% 0.7%
17. Hong Kong 7.7% -0.2%
18. Unted Kingdom 7.0% 2.7%
19. Ireland 6.4% 2.6%
20. Luxembourg 5.5% 0.4%
21. Switzerland 4.6% 1.2%
22. Russia 4.2% 0.5%
23. Austria 4.1% -0.5%
24. Sweden 4.1% 1.1%
25. Mexico 4.1% 0.1%
26. Canada 3.8% 0.1%
27. India 3.4% 2.4%
28. Latvia 3.0% 1.2%
29. South Africa 2.8% 1.4%

Source: Knight Frank

U.S. Office Market Current Qtr.
(Q4 - 13)
Prior Qtr.
(Q3 - 13)
Inventory
(sf in 1000s)
3,621,189
3,612,710
Completions
(sf in 1000s)
8,479
4,020
Absorption
(sf in 1000s)
14,213
7,951
Vacancy Rate
14.9%
15.1%
Gross Asking Rent
($ per sf)
27.40
27.22

Source: CBRE Econometric Advisors

U.S. Industrial Market Current Qtr.
(Q4 - 13)
Prior Qtr.
(Q3 - 13)
Inventory
(sf in 1000s)
12,769,730
12,743,760
Completions
(sf in 1000s)
25,970
16,159
Absorption
(sf in 1000s)
71,563
52,369
Vacancy Rate
11.3%
11.7%
Net Asking Rent
($ per sf)
5.74
5.73

Source: CBRE Econometric Advisors

U.S. Retail Market Current Qtr.
(Q4 - 13)
Prior Qtr.
(Q3 - 13)
Inventory
(sf in 1000s)
2,907,046
2,905,401
Completions
(sf in 1000s)
1,645
3,151
Absorption
(sf in 1000s)
7,883
1,956
Vacancy Rate
12.0%
12.2%
Net Asking Rent
($ per sf)
18.59
18.57

Source: CBRE Econometric Advisors

U.S. Multifamily Market Current Qtr.
(Q4 - 13)
Prior Qtr.
(Q3 - 13)
Rentable Inventory
(units)
14,787,950
14,727,157
Rentable Completions
(units)
60,793
59,900
Absorption
(units)
13,212
57,637
Vacancy Rate
4.9%
4.6%
Same-Store Rent
Index ($/unit)
$1,346.32
$1,339.18

Source: CBRE Econometric Advisors

U.S. Hotels
(Jan. 2014)
Occupany Rates Avg. Daily Rates (USD)
Luxury   67.6%
$295.65     
Upper Upscale   63.2%
$159.25     
Upscale   62.7%
$119.63     
Upper Midscale   51.8%
$95.49     
Midscale   44.9%
$72.48     
Economy   45.4%
$50.81     
Independents   48.7%
$108.11     
TOTAL U.S.   52.2%
$109.24     

Source: STR

International Hotels  (By Region, Aug. 2013) Occupany Rates Avg. Daily Rates (USD)
Americas   69.3%
$113.89     
Asia/Pacific   71.8%
$119.88     
Europe   74.2%
$137.22     
Middle East/Africa   56.1%
$154.99     

Source: STR Global

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