Manhattan apartment sales plunged in the last quarter, as prices dropped for first time since the pandemic in 2020. Brokers are becoming concerned that buyers and sellers are holding back because of economic fears and higher interest rates in one of the largest real estate markets in the United States, according to a report from Douglas…
Manhattan Apartment Sales Tumble, as Prices Drop for First Time Since Early 2020
January 5, 2023
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apartmentsBusiness & MarketseconomyLocal NewsManhattanNew YorkNY NewsNY Real EstateNYC City Lifereal estateRegional-Local NewsUS
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South Korea Eases Real Estate Regulations in Seoul as Home Prices Tumble
January 4, 2023
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Asia & PacificBusiness & MarketseconomyGlobal Real EstateInvestmentreal estateSouth KoreaSouth Korea's property marketWorldYoon Suk-yeol
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South Korea’s Finance Ministry said Tuesday that it would ease property regulations in the majority of districts in the capital Seoul in an effort to stabilize the nation’s weakening property market. The ministry said that Seoul and its adjacent metropolitan areas would no longer be designated as “speculative districts” from Thursday, allowing home buyers to…
Home Sales Plunge Over 30 Percent in Biggest Drop on Record: Redfin
January 3, 2023
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Business & Marketseconomyhome prices fallhomebuyer demandluxury homesnon-luxury homesreal estateU.S. home salesUSUS Real Estate
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Sales of luxury and non-luxury homes fell by more than 30 percent in the three months ended Nov. 30, with price growth nationwide slowing down, among which Californian metropolitan areas saw some of the biggest sales declines, according to real estate brokerage Redfin. Luxury home sales fell by 38.1 percent during the period year over…
The Best Market Data When Buying or Selling a Home
Dear Monty: I recently read that markets can change rapidly in neighborhoods. The term “hyperlocal markets” appeared in one of your recent columns. I am an experienced real estate agent and have yet to hear of this concept. I am not challenging the conclusion, but curious to know how you determined it. Do you have…
Housing Decline Picks up Speed Again
Australia’s property downturn has again picked up pace, but Melbourne is the only capital city getting close to erasing the entirety of its pandemic upswing. Home prices fell another 1.1 percent in December, CoreLogic data shows, amounting to a 5.3 percent total decline in 12 months. The notable drop follows a few months of more…
Canada Bans Most Foreigners From Buying Residential Property
January 2, 2023
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Business & MarketsCanadaeconomic policiesforeign banGlobal Real EstateInvestmentpersonal financereal estateresidential propertyWorld
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The Canadian government has implemented a temporary ban on foreigners buying residential property for two years. The Prohibition on the Purchase of Residential Property by Non-Canadians Act took effect Jan. 1, as Ottawa attempts to ease a housing shortage among Canadian citizens. The ban was approved by the Canadian Parliament on June 23, to make homes…
Greens Accuse Government of Subverting Democratic Processes Over Move to Address Housing Crisis
January 1, 2023
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Australiaaustralia housing crisisBusiness & Marketseconomic policiesGlobal Real EstateJulie Collinsmax-chandler matherreal estateWorld
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The Greens have said they will target the federal government’s National Housing Supply and Affordability Council after Housing Minister Julie Collins announced that the outgoing CEO of property developer Mirvac, Susan Lloyd-Hurwitz, will head up the interim body. Max-Chandler Mather, the Greens spokesperson for Housing and Homelessness, said the decision to appoint a property developer as…
Can a Married Couple Qualify for First-Time Home Benefits Twice?
December 31, 2022
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BrightbudgetingEstatefirst homeFuture Planninghome buyersHomeownerinvestingpersonal financereal estateWealth Management
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Purchasing a home is probably the biggest expenditure you’ll ever have. So, of course, trying to save money is a goal many buyers have. That’s why qualifying for first-time home benefits is so important. But what if you’ve taken advantage of this program in the past? Is there a way to take advantage of it…
8 Essential Real Estate Questions to Ask Potential Franchisors
By Roxanne Klein There are many reasons why entrepreneurs may want to buy a franchise. Making a brand successful is a tremendous amount of work in today’s world. Competition for consumer dollars is fierce. It can be challenging to elevate a brand and achieve profits. These profits will stem from a well-thought-out and strategic business…
Average Incomes Not Enough to Buy a Home
Property prices may have cooled off, but the average sole earner still can’t afford the repayments on a mid-priced house in every capital city, bar Perth. Canstar analysis shows the dream of home ownership is still well out of reach for people on average incomes as rising interest rates continue to erode borrowing power. To…
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