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Showing posts from June, 2021

Global Prime Logistics Rents are Increasing, Fueled by E-Commerce Demand.

The most costly markets are Hong Kong, Tokyo, and London.  ادهنتر According to CBRE Group Inc.'s inaugural Global Prime Logistics Rents study, global demand for e-commerce fulfillment centers and distribution centers fuelled a 2.8 percent year-over-year increase in prime logistics rents, with double-digit percentage gains in U.S. coastal regions leading the way. Six of the top ten markets in the world with the fastest-growing prime logistics rents were in the United States, with Oakland, Calif., leading the way with a roughly 30 percent increase. Although American seaports and inland ports aren't among the most expensive in the world for logistics rentals, they did saw the biggest growth in 2015, thanks to an increase in the movement of goods into and across the region from online sales. In addition to Oakland, which ranks first, New Jersey is second, the Inland Empire is third, Los Angeles-Orange County is seventh, Dallas-Fort Worth is eighth, and Atlanta is ninth. Two m...

Outside of Hong Kong's Central District, more companies are looking for office space.

  After two months of negative growth, net take-up on Hong Kong's Grade A office market rebounded by 51,800 sq. ft. in April 2016, according to JLL's latest Monthly Market Monitor released this week. The majority of leasing activity was observed outside of Hong Kong's Central district.  Addhunters Quarry Bay welcomes its first international law practice. Many businesses sought office space in neighboring business areas as rents continued to rise and the vacancy rate of Grade A offices in Central was just 1.4 percent at the end of April. Berwin Leighton Paisner (BLP), an international law firm, signed a six-year contract with Swire Properties to move its Hong Kong office out of the Central district and onto 15,000 square feet in Dorset House. An international law company has opened an office in Quarry Bay for the first time. JLL was tasked by BLP with advising on the search for the location of a new office. Modern client amenities, including a flexible seminar and conf...

In Asia's densely populated cities, multi-story warehouses are gaining traction.

Multi-story warehouses, or warehouses with more than one storey, are gaining traction in high-density regions across Asia, according to CBRE.  Hunters The most significant benefit, according to CBRE, is the significant increase in usable floor area per square foot of land. Higher usage rates are significant in land-scarce cities like Hong Kong, Singapore, South Korea, and Tokyo; as a result, they are more common in Asia than in other regions with more land available. CBRE anticipates a growing opportunity for multi-story warehouse investors, in line with the continuous interest in logistics assets. Highlights of the multi-story warehouse market include: Due to expensive land and building prices, tiny site areas, restricted industrial land availability, and the ability to serve city center populations, multi-story warehouses have thrived in Asia. In land-scarce places, industrial land prices per developable area are roughly six times higher than in land-abundant areas. The m...

Beijing's office rents have increased by 41% in the last year.

According to a new Jones Lang LaSalle research, the rent of Grade A office and warehouse space climbed throughout 2011:  Event Residential - In Beijing, the average rent of serviced apartments climbed by 12.5% year on year. In 2011, the sales area of high-end apartments shrank dramatically, while the average price fell slightly. Industrial - Strong demand from e-commerce, retail, and 3PL enterprises has resulted in most warehouses being fully leased and rents reaching new highs.   a residence In Beijing, the average serviced apartment rent climbed by 12.5 percent year over year in 2011. The sales area of high-end apartments has shrunk dramatically, while the average price has dropped little. The average rent for serviced flats in Beijing grew by 12.5 percent in 2011. In 2011, there was no new supply for serviced apartments, and one property was strata-title sold and thus exited the leasing market, reducing total supply to 8,095 units. Furthermore, due to the rehabi...

For the first time since 2010, Europe surpasses the United States in terms of hotel RevPAR growth.

According to hotel consultant STR, the European hotel industry passed hotels in the United States in year-over-year revenue per available room (RevPAR) increase for the first time since 2010. In constant currency, year-end 2015 RevPAR growth in Europe was +6.9% (to US$83.94), while growth in the United States was +6.3% (to US$78.65).  Events Since each experienced a double-digit fall during the financial crisis in 2009, both the United States and Europe have reported six consecutive years of RevPAR growth. From 2011 to 2014, the United States has consistently higher year-end growth rates. In 2014, RevPAR growth in the United States was +8.1%, compared to +4.3% in Europe. Despite recent security worries in Europe as a result of terrorist attacks and threats, which hit major cities such as Paris and London towards the end of the year, several markets in the region had solid overall performances in 2015. The weakening Euro and shifted demand from North Africa, according to STR e...

Rhodes, a Greek island, is making a comeback in the luxury market.

According to worldwide real estate consultant Engel & Völkers, the luxury real estate market in Rhodes is starting to stabilize now that Greece's future in the Euro appears safe.  Main suppliers According to Engel & Völkers, inquiries for high-end residential property climbed by almost 20%. On Rhodes, Georg Petras, a partner at Engel & Völkers, states, "The price structure of the luxury second house market on Rhodes has been less affected by the financial crisis than that of the first home market. During the financial crisis, the value of luxury vacation homes fell marginally. However, because to increasing demand, prices have begun to rise once more. From this perspective, the best moment to invest in Greek real estate is right now ".. Exclusive villas and homes are in high demand, especially those along the shore with direct sea access or spectacular views. The most popular properties are those with three or more bedrooms, high-end finishes, and large ...

Despite analysts' warnings of a coming slowdown, the housing market in France is surviving.

Notwithstanding a catastrophic financial situation throughout Europe, residential real estate in France is holding its own, despite recent announcements by numerous analysts and research companies.  Ad hunters Because of the unsolved Eurozone financial crisis, analysts predict a decline in housing prices and credit. According to the National Institute for Statistical and Economic Studies (INSEE), property prices in France increased by 1.8 percent in 2011. This value has been modified to account for inflation. Despite the country's comparatively low borrowing rates, analysts believe that property values and rental income are not improving. According to Credit Agricole, home prices in France could fall by 5% to 6% in 2012. It's possible that sales will drop by 8%. According to Notaires - INSEE, apartment prices in Paris increased 14.8 percent year over year (12 percent in real terms) to €8,390 per square meter at the end of 2011.   According to the Global Property Gu...

Office buildings in Europe are facing greater obsolescence and depreciation than ever before.

According to Jones Lang LaSalle's Offices 2020 Research Program, European office buildings will suffer an elevated risk of value depreciation and obsolescence over the next decade as three structural variables combine to accelerate risk.  Loft Due to increased sustainability regulation, growing workplace technology, and altering employer requirements, the rate of increase in office obsolescence, where the building is no longer appealing or fit for use, will accelerate. As a result, a large amount of office equipment will degrade in value and be converted to other purposes. In 2011, 160,000 sq m of office space over 1,000 sq m was taken up in Amsterdam, while approximately 93,000 sq m of office space was given other uses such as hotels and residences. In Birmingham, above 1,000 square meter take-up totalled 31,100 square meters in 2011. In comparison, 50,000 square meters were set aside for other applications. As policy and technology advance, this trend will become more pronoun...

Concerns about the Eurozone's debt Since 2009, Europe's office rents have been dragging, with the first rate softening.

According to the Jones Lang LaSalle European Office Index, Europe's office rents are presently slightly lower for the first time since Q4 2009. In the first quarter of 2012, prime office rentals declined by 0.3 percent.  Craigslist portland The overall decrease obscured both increases and decreases in numerous major office rental markets. Brussels (-5.0 percent), Madrid (-1.9 percent), Barcelona (-1.4 percent), and Paris (-1.2 percent) all had rental decreases, while Luxembourg (+5.3 percent), Stockholm (+2.4 percent), and Hamburg (+2.1 percent) saw rental gains. Rental markets will remain stable. Growth predictions for 2012 have been lowered downwards as a result of the altered economic prognosis for the area as a whole. Markets with more stable economic conditions, such as the United Kingdom and Germany, are expected to do well, but struggling economies, such as Greece, Portugal, Spain, and Italy, will continue to face labor market and rent pressures. The Jones Lang LaSalle...

Following the 2007 peak, Monaco is seeing record residential sales.

It's party time in Monaco once more. Following the thrilling F1 Monaco Grand Prix last weekend, there is now another reason to rejoice in the little principality: real estate sales.  Apartments According to the Savills Spotlight on Monaco Report, the residential market in Monaco enjoyed a notable rise in activity in 2014, with transaction volumes surpassing their 2007 peak for the first time. In all, 555 resale houses were sold in 2014, a 21 percent increase over 2007. The most liquid parts of the market have been pushing re-sale volumes to new highs in euro terms. In 2014, resale property worth €2 billion ($2.2 billion USD) changed hands. Highlights of the Monaco Market: The home market in Monaco had a record year in 2014. Residential sales surpassed their 2007 high, totaling €2.4 billion ($2.7 billion USD). Monaco is one of the most expensive real estate markets in the world, but it has fallen behind Hong Kong in terms of monetary value.   The new development...

In the first quarter of this year, European commercial property investment increased by 44%.

The European commercial property investment market had a good start to 2015, according to Knight Frank's latest European Quarterly Report, with a total of €50.1 billion traded in Q1.  Apartment Q1 2015 had a 44 percent increase in investment volume over Q1 2014, making it the best first quarter since 2007. Recent improvements in the European economic outlook have strengthened prospects for the remainder of 2015, and overall investment volumes are expected to reach €200 billion for the first time since the market high in 2007. European-Commercial-Investment-Capital-Flows-Q1-2015.jpg Investment volumes have continued to climb in a range of secondary cities and peripheral markets, reflecting investors' greater willingness for risk. Following the amazing recovery of the Spanish and Irish investment markets in 2014, activity in Italy and Portugal has increased significantly in the previous two quarters. In several markets, prime yields are still falling, and cities including...

In the coming years, the Nordic region will see an increase in international retail expansion.

According to a new JLL analysis, multinational retailer development in the Nordic area is expected to pick up in the next years. Despite tremendous market opportunity, the Nordic cities are virtually unexplored, according to JLL's Destination Nordics 2015 Report.  For sale Attractiveness of the Nordic areas to multinational retailers: In the medium run, Helsinki is anticipated to outperform the Eurozone in terms of sales growth. For multinational merchants, Stockholm is the most appealing Nordic location. The United Kingdom is the leading supplier of cross-border retail fascias to the Nordic countries.   The Nordic region's international retailer expansion is expected to expand in the next years, owing to population and retail sales growth. The six important cities stand out as among of Europe's wealthiest, displaying a high level of market maturity, durability, and development possibilities, as well as real estate transparency and minimal risk. "While ma...

In 2019, international home sales in Miami totaled $6.9 billion.

Foreign buyer activity will be slowed in 2019 due to a worsening global economic outlook and political turmoil.  ادهنتر A strong U.S. dollar and a worsening global economic outlook outside of the United States slowed international home sales in South Florida in 2019, according to the latest Profile of International Home Buyers of the Miami Association of Realtors (MIAMI) conducted by MIAMI and the National Association of Realtors, but domestic buyers stepped in as total Miami residential sales and prices increased year-over-year. Despite the drop, foreign purchasing activity remained significant, especially when compared to the rest of Florida and the country. In 2019, foreign homebuyers spent $6.9 billion on residential homes in South Florida, down 21% from $8.7 billion in 2018. Because the Miami Mega Region is the No. 1 U.S. destination for international shoppers and is home to a diverse group of international purchasers, the global market in Miami did not suffer as much as t...

Manila has the most annual price appreciation of any housing market in the world, at 22%.

  The recent Global Residential Cities Index found that the average yearly price increase for all 150 cities was 4.3 percent.  Addhunters Manila top the yearly world rankings for the second straight quarter, according to worldwide property consultant Knight Frank's latest Global Residential Cities Index, with price rise of 22% in the year to March 2020. Budapest continues to be the fastest-growing city in Europe, with a 16 percent increase. The trio of Central and Eastern European cities in the top ten includes Zagreb and Warsaw. Apart from Manila, the best achievers in Asia Pacific are Seoul and Melbourne, both with annual growth rates of 13%. In the 12 months to March, the index climbed by 4.3 percent, the greatest annual rate of growth since Q3 2017. Over the course of the year, 85 percent of the 150 cities studied saw their costs rise. A look at the 15 cities in China and the United States with the highest GDP highlights the severity of China's recession in the first...

Despite COVID outbreaks, July saw a sales rebound in many international cities.

Despite localized outbreaks, according to Knight Frank's latest Worldwide Property Index, a lot of global locations are seeing sales volumes recover, with April so far proving to be the low point for residential activity.  Hunters New outbreaks have been reported in parts of the United States (Southern and Western states), Spain (Catalonia, Galicia), and Melbourne, which has resulted in the city being placed on lockdown once more and the state border between Victoria and New South Wales being closed for the first time in 100 years. Perth has likewise set a weekly limit of 525 overseas entrants. The UK has also released its long-awaited 'traffic-light' list of 74 countries and territories to which British citizens would be able to go without being self-isolated as of July 10. While France, Spain, Italy, and Germany are currently covered, Portugal, the United States, and Canada are not. Despite their inclusion on the list, Australia and New Zealand's borders remain bl...

Expansions of law firm offices are taking place across Asia and North Africa, fueled by high-growth economies.

 Strong economic growth in emerging nations is driving law firm office expansions across the Asia Pacific and Africa regions, according to Jones Lang LaSalle's Global Law Firm Perspectives 2012.  Buy "Law firm real estate trends strikingly highlight present global economic divisions," according to Tom Carroll, Jones Lang LaSalle's Director of Corporate Research. "A tenant favorable market will persist in North America and much of Europe for quite some time, while corporations focus their sights on high-growth emerging markets in Asia and Africa." The following major global legal industry real estate trends are revealed in the JLL report: A Economic cross-pollination as a means of regaining growth - As emerging market expansion returns to the agenda, larger multi-national corporations are breaking their years of restraint. Firms situated in developed markets such as the United States and Western Europe, which seek to be geographically associated with th...

Name-Brand A Chinese developer has paid $54 million for a condo site in Brooklyn.

Xinyuan Real Estate Co., Ltd. (NYSE: XIN), a residential real estate developer focused on China's high-growth strategic cities, announced in Beijing that its U.S. development arm, XIN Development Group International Inc., has purchased a 92,000-square-foot condominium development site at Kent Avenue and South 8th Street in Brooklyn, NY for $54.2 million.  Rent According to Xin, this is the first time a mainland Chinese developer has purchased property for a big residential project in the United States. Xin expects more such purchases in the United States to follow in the near future, depending on the ups and downs in China's own real estate market. This is XIN's first large residential development project in the United States, and its third investment in the country. According to Xin's prepared statement, the 8,547 square meter site has already undergone $8 million in permitting, zoning, and foundation construction. According to the announcement, the land will...

Home mortgage loans and commercial development in China increased in the third quarter.

  In China, not only are property values rising, but so are loans for individual home mortgages and commercial growth. However, according to third-quarter data provided online by the People's Bank of China, financing for affordable housing projects decreased.  Property At the end of September, the country's central bank reported that financial institutions had outstanding loans in the property sector of 11.74 trillion yuan ($1.86 trillion), up 12.2 percent year on year (one Chinese yuan = $0.1600 US). According to the statement, the growth rate was 1.9 percentage points higher than at the end of the previous quarter. Since 2010, China, the world's second-largest economy, has implemented a number of policies aimed at curbing soaring housing prices. Restrictions on second-home purchases, greater down payment requirements, and the imposition of property taxes in some areas have all been implemented. According to government data, China's real estate market is heatin...

Work on the Costa Rica Road will begin soon, thanks to China.

After a Chinese bank agreed to offer $395 million in finance, the rehabilitation and expansion of a critical 107-kilometer route connecting Costa Rica's capital to the Caribbean coast might begin as soon as next month.  Car Route 32 will be renovated and expanded, improving the connection between San Jose and Limón, the essential link to the Caribbean coast. China's Harbour Engineering Company LTD will serve as the main construction company as part of the arrangement, which is a common format for Chinese finance projects. For the Baha Mar project in the Bahamas, the Export-Import Bank of China worked out a similar agreement that linked funding and construction. Money from China is pouring into projects all across the world. China has confirmed its support for the Manchester Airport City development in the United Kingdom. The agreement with Costa Rica was first announced in June, when Chinese President Xi Jinping paid a visit to the country. According to the Tico Times, ...