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Middle East, Africa Hotels Post Mixed Results

According to STR Global, the Middle East and Africa region reported mixed performance during August 2014 when reported in U.S. dollars. Read More »

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Harbor Place at Safety Harbor, The Jewel of Tampa Bay

The town of Safety Harbor is a secret little hideaway known as the Jewel of Tampa Bay. Safety Harbor is neighbored by the major city of Clearwater, Florida. Read More »

Regional Real Estate News

Last Updated September 30, 2014 11:15 AM ET
North America

According to the July 2014 S&P/Case-Shiller Home Price Indices, there was a significant slowdown in U.S. home price increases. Nineteen of the 20 cities saw lower annual returns in July.

According to the National Association of Realtors (NAR), pending home sales slowed in August 2014, but contract signings remain at their second-highest level over the past year.

According to STR, the U.S. hotel industry recorded positive results in the three key performance measurements during the week ending September 20, 2014.

According to RealtyTrac's August 2014 U.S Residential & Foreclosure Sales Report, U.S. residential properties, including single family homes, condominiums and townhomes, sold at an estimated annual pace of 4,508,559 in August.

According to CoreLogic this week, nearly 950,000 U.S. homes returned to positive equity in the second quarter of 2014, bringing the total number of mortgaged residential properties with equity in the U.S. to more than 44 million.

According to the latest report from CBRE Group, Inc., Where Are the Big Boxes? The State of U.S. Industrial Development Activity, demand for newer, Class A industrial space in the U.S. is outpacing supply.

RealtyTrac is now reporting this week that many U.S. housing markets are now seeing a shift in both baby boomer and millennial population migration patterns.

According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 19, 2014, mortgage applications decreased 4.1 percent from one week earlier.

Last Updated September 3, 2014 12:10 PM ET
Latin America

According to the July 2014 STR Construction Pipeline Report, the Caribbean and Mexico hotel development pipeline comprises 167 hotels totaling 28,140 rooms.

According to the July 2014 STR Global Construction Pipeline Report, Central and South America's combined hotel development pipeline comprises 384 hotels totaling 62,958 new rooms.

In a world of ever-increasing work demands, hours at the office, balancing a family life and being over-connected by smart phones, computers, emails, texts and social media in order to 'have it all', it seems people are becoming more stressed than before.

According to the June 2014 STR Global Construction Pipeline Report, the Central and South America hotel development pipeline comprises 400 hotels totaling 65,479 rooms.

STR Global is reporting hotels in Brazil have experienced declines in revenue per available room as they prepared to host the FIFA World Cup, which began this week.

The real estate market in Costa Rica is displaying signs of significant interest towards pre-built construction of coastal gated communities while pressure rises from competing markets such as Panama.

The Costa Rica real estate market saw a significant turn-around in 2013 after setting a record in international arrivals in 2012 with over two million landing on its sunny shores.

STR Global reported this week that hotels across the Americas region recorded positive results in the three key performance metrics.

Last Updated September 30, 2014 12:30 PM ET
Europe

According to JLL's International Capital Group, German investors have pumped over $151 billion into international real estate over the last decade.

According to international real estate adviser Savills, London has become the world's most expensive city for companies to locate employees, overtaking Hong Kong, which had previously topped the ranking for an unbroken five year period.

According to the European Cities Hotel Forecast for 2014 from PwC, London's hotel sector is set to lead the European hospitality marketplace well into the future.

German banks intend to invest hundreds of millions of euros in Dutch rented housing, according to a Capital Value survey among 40 of Germany's largest banks.

According to the August 2014 STR Global Construction Pipeline Report, the Europe hotel development pipeline comprises 894 hotels totaling 142,704 rooms.

Besides being a tax-haven and playground of the world's rich and famous for decades, Monaco will soon have a new title: home to the world's most expensive condo.

According to CBRE, price movements in the U.S., coupled with improving prospects overseas, have led U.S.-based investors to increase their commercial real estate acquisitions in Europe by 75% year-over-year.

Based on recent estimates from Cushman & Wakefield's Corporate Finance team, European banks and asset management agencies have a gross exposure of $770 billion (€584 billion) to non-core real estate which is subject to disposal or work-out strategies.

Last Updated October 1, 2014 8:00 AM ET
Middle East and Africa

According to STR Global, the Middle East and Africa region reported mixed performance during August 2014 when reported in U.S. dollars.

According to international real estate consultant, Cluttons, strong economic activity in Oman, underpinned by the government's heavy inward investment, has continued to drive job creation across the Sultanate.

In the fall of 2015, The Residences at W Tel Aviv - Jaffa is set to become the centerpiece of the extensive preservation and redevelopment project currently underfoot in Jaffa's ancient city

Tourism Development & Investment Company (TDIC), the master developer of major tourism, cultural and residential destinations in Abu Dhabi, revealed today the first residential development in the Saadiyat Cultural District.

According to Cluttons' annual 2014 UAE Property Report, the UAE's residential property market has experienced improved stability during the first six months of 2014, with the rate of expansion steadying.

According to STR Global, hotels in Dubai performed nearly in sync during Ramadan 2014 compared with Ramadan 2013. The shift of Ramadan impacts travel patterns which in turn affected overall hotel performance in Dubai and across the entire United Arab Emirates.

According to the July 2014 STR Global Construction Pipeline Report, the Middle East-Africa hotel region reported 630 hotels under contract totaling 147,754 rooms.

The real estate market of the UAE has successfully managed to carry its confident performance into H1 of 2014.

Last Updated September 26, 2014 9:00 AM ET
Asia Pacific

According to international real estate adviser Savills, London has become the world's most expensive city for companies to locate employees, overtaking Hong Kong, which had previously topped the ranking for an unbroken five year period.

According to STR Global, hotels in the Asia Pacific region experienced mostly positive results during August 2014 when reported in U.S. dollars.

Megaworld, a large residential and commercial property developer in the Philippines, has announced that it is to develop McKinley West - an ultra-high-end township on a 34.5-hectare former JUSMAG (Joint US Military Assistance Group) property in Fort Bonifacio

According to Cushman & Wakefield, multinational companies (MNC) are increasingly investing in purchasing offices in India and China.

Will one of the world's oldest and largest fish markets turn into American style casino resort? This thought must have recently been on people's minds when locals heard of the possibility.

According to a new report by property portal Lamudi, women in emerging countries including the Philippines, Bangladesh and Mexico are dispelling the myth that men drive the house-hunting process in these regions.

According to STR Global, hotels in the Asia Pacific region experienced mostly positive results during July when reported in U.S. dollars.

China's property market saw a further decline of property prices in July, the third consecutive monthly decline in 2014.

Real Estate Dashboard
U.S. Housing Stats June. 2014 July. 2014
Existing Home Sales (Annualized Rate) 5.04m 5.15m
Existing Home Prices (Median) $223,300 $222,900
Existing Home Inventory (all U.S.) 2.3m 2.37m
Existing Home Supply (Months) 5.5 5.5
New Home Sales (Annualized Rate) 422,000 412,000
New Home Prices (Median) $273,000 $269,800
New Home Inventory (all U.S.) 197,000 205,000
New Home Supply (Months) 5.8 6.0
Building Permits (Single Family) 631,000 640,000
Housing Starts (Single Family) 575,000 656,000
Housing Completions (Single Family) 586,000 635,000
Pending Home Sales Index (PHSI) 102.7 105.9
Home Builder Confidence Index (HMI) 53 57

Source: NAR & U.S. Commerce Department

U.S. Foreclosure Stats June. 2014 July. 2014
Residential Filings 107,194 109,434
Year Over Year % Change 16.0% 16.0%

Source: RealtyTrac

Global House Price Index (Q2, 2014)

Country Annual Price Change Quarterly Change
1. Jakarta 27.3% 1.2%
2. Dublin 23.5% 2.1%
3. New York 18.4% NA
4. Los Angeles 17.8% 5.6%
5. Miami 17.2% NA
6. Beijing 13.2% 1.2%
7. San Francisco 12.5% 3.4%
8. Sydney 10.9% 1.0%
9. London 8.1% 2.3%
10. Tel Aviv 7.8% 0.6%
11. Vancouver 6.5% 2.0%
12. Bangkok 6.4% 0.0%
13. Dubai 6.3% 1.0%
14. Bengaluru 5.5% 3.0%
15. Shanghai 4.8% -0.6%
16. Madrid 4.3% 0.4%
17. Nairobi 4.0% 0.3%
18. Vienna 3.8% 0.2%
19. Kuala Lumpur 3.1% 0.0%
20. Monaco 2.9% 0.0%
21. Cape Town 2.5% 1.0%
22. St. Petersburg 2.3% 0.0%
23. Delhi 1.8% 0.6%
24. Moscow 0.9% 1.2%
25. Mumbai 0.8% 0.5%
26. Tokyo 0.1% 4.4%
27. Rome 0.0% 0.0%
28. Zurich -0.3% 0.0%
29. Paris -2.5% -3.0%
30. Hong Kong -2.9% -0.2%

Source: Knight Frank

U.S. Office Market Current Qtr.
(Q2 - 14)
Prior Qtr.
(Q1 - 14)
Inventory
(sf in 1000s)
3,622,859
3,618,693
Completions
(sf in 1000s)
4,166
4,013
Absorption
(sf in 1000s)
15,416
5,498
Vacancy Rate
14.5%
14.8%
Gross Asking Rent
($ per sf)
28.14
27.83

Source: CBRE Econometric Advisors

U.S. Industrial Market Current Qtr.
(Q2 - 14)
Prior Qtr.
(Q1 - 14)
Inventory
(sf in 1000s)
12,808,965
12,782,078
Completions
(sf in 1000s)
26,887
23,457
Absorption
(sf in 1000s)
53,428
43,179
Vacancy Rate
10.8%
11.1%
Net Asking Rent
($ per sf)
5.89
5.84

Source: CBRE Econometric Advisors

U.S. Retail Market Current Qtr.
(Q2 - 14)
Prior Qtr.
(Q1 - 14)
Inventory
(sf in 1000s)
2,924,573
2,922,060
Completions
(sf in 1000s)
2,513
2,560
Absorption
(sf in 1000s)
7,367
5,587
Vacancy Rate
11.7%
11.9%
Net Asking Rent
($ per sf)
18.65
18.62

Source: CBRE Econometric Advisors

U.S. Multifamily Market Current Qtr.
(Q2 - 14)
Prior Qtr.
(Q1 - 14)
Rentable Inventory
(units)
14,915,802
14,846,049
Rentable Completions
(units)
69,753
58,099
Absorption
(units)
145,429
59,922
Vacancy Rate
4.4%
4.9%
Same-Store Rent
Index ($/unit)
$1,380.23
$1,370.33

Source: CBRE Econometric Advisors

U.S. Hotels
(Jul. 2014)
Occupany Rates Avg. Daily Rates (USD)
Luxury   77.5%
$288.16     
Upper Upscale   79.4%
$166.25     
Upscale   80.7%
$129.81     
Upper Midscale   76.6%
$110.58     
Midscale   69.4%
$85.47     
Economy   66.8%
$61.91     
Independents   71.4%
$120.03     
TOTAL U.S.   73.6%
$117.81     

Source: STR

International Hotels  (By Region, Jul. 2014) Occupany Rates Avg. Daily Rates (USD)
Americas   73.2%
$119.81     
Asia/Pacific   70.0%
$112.44     
Europe   73.9%
$143.56     
Middle East/Africa   49.3%
$156.54     

Source: STR Global

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