Bnnbloomberg.ca [2022]

Last Update: April 3, 2022

Real Estate News Stories – BNN – Business News Network

Real estate experts say Ontario’s decision to increase and expand its foreign buyers tax won’t do much to cool the province’s hot real estate market. 'Full-scale attack on Canadian home prices': BMO economist. Ontario to increase penalties around 'unethical' condo development practices.

Actived: 9 days ago

URL: https://www.bnnbloomberg.ca/real-estate

Vancouver's March home sales up 27% since February: …

(9 days ago) The Real Estate Board of Greater Vancouver says home sales picked up between February and March but are still down from a year ago. The B.C. board says last month's sales totalled 4,344, a 27 per cent increase from 3,424 homes sold in February 2022 and a 24 per cent decrease from the 5,708 sales recorded in March 2021.

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Toronto home prices slip from record, hover near $1.3M …

(9 days ago) The latest data from the Toronto Regional Real Estate Board (TRREB) showed there were 10,955 home sales in March. While that’s a roughly 17 per cent increase on a monthly basis, home sales in the region fell almost 30 per cent compared to the same month last year. All housing segments saw sales activity fall, led by low-rise properties.

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Ottawa must focus less on demand, more on supply: Tax

(9 days ago) Real Estate UAE Developer FAM Holding Plans Abu Dhabi Second Market Listing FAM Holding, a United Arab Emirates-based property developer with a portfolio of $545 million, plans to list its shares on Abu Dhabi stock exchange’s second market, joining a steady stream of companies …

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RBC warns on 'worst-ever affordability' ahead for

(6 days ago) Kavcic said in an interview Wednesday there is "real fundamental strength" driving up home prices, but the magnitude of the surge — which sent the Canadian Real Estate Association's home price index up by a record 28 per cent year-over-year in January — convinced him there is "quite a bit of froth" built on top of the basic supply and

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Calgary sees record home sales as supply returns to …

(4 days ago) CALGARY -- The Calgary Real Estate Board says last month set a new record for sales activity as 4,107 homes changed hands. The Alberta board says those sales amounted to a 41 per cent increase from the 2,903 homes sold last March and made it the second month in a row that a new record was set. New listings for the month totalled 5,485, up about

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High-Rolling Real Estate ‘Gang’ Gets Caught in China …

(Just Now) High-Rolling Real Estate ‘Gang’ Gets Caught in China Debt Crisis. (Bloomberg) -- “Work hard when young or enjoy no reputation later in life.”. So goes a famous saying from China’s Fujian province. Ou Zongrong stood by it, building a property empire with its roots in the province. At first, things worked out well.

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Foreign Buyers’ Tax Just Might Cool Ontario’s Hot …

(1 days ago) Canada’s largest province, the epicenter of the country’s pandemic real estate boom, said Tuesday it would raise its tax on foreign purchases of residential real estate to 20% from 15%. The levy is also expanding from Toronto and its surrounding cities to …

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Buyout Boom Drives Record European Corporate Real …

(Just Now) (Bloomberg) -- A record wave of mergers and acquisitions helped drive a boom in European corporate real estate sales in 2021 as private equity firms cashed in on property portfolios of companies they acquired. Businesses sold a record 29 billion euros ($32 billion) of real estate in 2021, according to data compiled by broker Jones Lang LaSalle Inc.

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If buying a home seems impossible, REITs could be the …

(6 days ago) “Historically, real estate stocks have performed well in inflationary times like the ones we’re in,” said Andrew Moffs, portfolio manager at Vision Capital Corp, in an interview. Statistics Canada recently said the country’s inflation rate climbed 7.5 per cent in February from a year earlier, a 31-year-high, and a large reason why the

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Montreal home sales down 12% in February amid fewer

(7 days ago) The Quebec Professional Association of Real Estate Brokers says Montreal's February sales were down by 12 per cent since last year, as the market grappled with a lack of listings. The association says 4,399 homes in the market changed hands last month, a drop from 5,025 last February. It attributed the slowdown to February 2021 being a frenzied

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Changes to foreign buyers tax unlikely to quell Ontario

(Just Now) Real estate experts say Ontario’s decision to increase and expand its foreign buyers tax won’t do much to cool the province’s hot real estate market. The industry's doubts come a day after the province announced the non-resident speculation tax would be moved to 20 per cent from 15 per cent and be applied beyond the Greater Golden

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Ontario to increase penalties around 'unethical' condo

(2 days ago) Real Estate Jewelers to Spend More as Buyers Flock Back to Stores in India Jewelers in India are shaking the dust off their expansion plans this year as sales in the second-biggest market are set to increase even more after almost doubling in 2021.

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Cooling-off period won't alleviate housing market's heated

(3 days ago) Earlier this month, the Real Estate Board of Greater Vancouver said a lack of supply caused January home sales to slow from a record-setting pace last year, nonetheless pushing the benchmark price up 18.5 per cent from last January, to about $1.2 million. Hyde estimates the province is 25,000 listings short of what is needed for a balanced

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Toronto investors increasingly scooping up Calgary condos

(3 days ago) The most recent data from the Calgary Real Estate Board showed condo sales in January hit the highest for the month since 2007 with 357 sales. The unadjusted benchmark price of a condo in Calgary rose two per cent in January from last year to $251,200, the data showed. Typically, pre-sale units can be even cheaper than resale property prices.

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‘Spectacular’ Dubai Property Bounce Likely to Continue

(8 days ago) London’s Real Estate Supremacy at Risk from Oligarch Crackdown; Brookfield Venture Scores Dubai’s Biggest Office Deal Since 2019 ©2022 Bloomberg L.P. Top Stories. 7:17. Calgary home sales in June set record for the month: CREB. 5:38. Pandemic leading Canadians to flock to Vancouver, Halifax, report says.

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Boston Mayor Wu Wants Tax on Pricey Real Estate to Fund

(8 days ago) Boston Mayor Wu Wants Tax on Pricey Real Estate to Fund Low-Cost Homes. (Bloomberg) -- Boston’s new progressive mayor, swept in on a wave of resentment over soaring housing costs, pushed forward a plan Friday to pay for low-cost homes by taxing high-dollar real-estate sales. Mayor Michelle Wu signed the City Council’s formal request asking

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Calgary housing market sets February record as sales surge

(6 days ago) The Calgary Real Estate Board says the market set a February sales record as the number of homes changing hands surged by 80 per cent since last year and new listings climbed by 63 per cent in the same period. The Albertan board says the month's record sales totalled 3,305, up from 1,831 last year. New listings soared to 4,652 from 2,850 a year

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Britain’s Hottest Real Estate Spot Is a Town on the Devon

(1 days ago) Britain’s Hottest Real Estate Spot Is a Town on the Devon Coast. (Bloomberg) -- A fishing town in southwest England is the hottest property location in the country when it comes to asking prices. Brixham in Devon, more than four hours west of London by car, saw the price of homes coming to market surge by 25% in the year through February

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Peninsula Real Estate Exploring $1 Billion Listing in

(7 days ago) Photographer: Christopher Pike/Bloomberg , Bloomberg. (Bloomberg) -- Peninsula Real Estate is looking to list a vehicle on the London Stock Exchange, the first company with significant assets in the United Arab Emirates seeking a U.K. listing since 2019. The proposed real estate investment trust will hold commercial properties in the Gulf

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'Full-scale attack on Canadian home prices': BMO economist

(3 days ago) The Canadian Real Estate Association said national inventory levels were at an all-time low in January and last December, which sent the non-seasonally adjusted aggregate home price index up by record 28 per cent year-over-year in January. Kavcic pinpointed four factors that could disrupt the surge in home prices that has pushed affordability

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Forgoing a home inspection

(1 days ago) Real Estate At Least 33 Hong Kong Firms Halted After Earnings Deadline Trading in at least 33 Hong Kong-listed stocks was halted on Friday after a number of firms missed a deadline to report annual results, adding uncertainty to a market grappling with a bleak economic outlook and regulatory headwinds.

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Canada's hot housing market sees record monthly price gain

(3 days ago) Canada’s benchmark home price jumped 2.9 per cent, the biggest monthly gain in data going back to 2005. The number of homes put up for sale fell 11 per cent, according to data released Tuesday by the Canadian Real Estate Association. With the number of sales rising 1 per cent in January, the ratio of sales to new listings -- a measure of

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Spain Imposes Sanctions on Russian Oligarchs’ Real Estate

(4 days ago) Spain Imposes Sanctions on Russian Oligarchs’ Real Estate. (Bloomberg) -- Spain is applying sanctions on “real estate assets owned by Russian oligarchs,” Prime Minister Pedro Sanchez said in a press conference in Bucharest Thursday. Sanchez didn’t provide further details regarding the assets. The government this week announced that it

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Toronto home sales dip in February as prices hit all-time

(Just Now) Real Estate At Least 33 Hong Kong Firms Halted After Earnings Deadline Trading in at least 33 Hong Kong-listed stocks was halted on Friday after a number of firms missed a deadline to report annual results, adding uncertainty to a market grappling with a bleak economic outlook and regulatory headwinds.

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Record Share of Americans Say Rents Will Keep Rising This

(Just Now) Real Estate China Struggles to Keep Growth Momentum Strong as Risks Escalate China struggled to boost economic momentum in March, as slumping car and home sales, stock market turmoil and higher inflation weighed on growth and a …

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CMHC reports annual pace of housing starts in February up

(8 days ago) Real Estate At Least 33 Hong Kong Firms Halted After Earnings Deadline Trading in at least 33 Hong Kong-listed stocks was halted on Friday after a number of firms missed a deadline to report annual results, adding uncertainty to a market grappling with a bleak economic outlook and regulatory headwinds.

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Mapletree to Pick Banks for $1 Billion Singapore REIT IPO

(6 days ago) Mapletree Investments Pte, a Singapore-based property developer and manager, has selected advisers for a potential initial public offering of a student housing real estate investment trust that could raise about $1 billion, according to people familiar with the matter.

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SunPower in Talks With First Solar on Panel Just for Home

(3 days ago) High-Rolling Real Estate ‘Gang’ Gets Caught in China Debt Crisis. Almost Half of U.S. Small Firms Are Raising Compensation. U.S. Drops Charges Against 5 in Chicken Price-Fixing Case. Some Gold Refineries Are Refusing to Remelt Russian Bars. Colombia Shocks Traders With Smaller-Than-Expected Rate Increase to 5%.

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Lampert Retires as Seritage Chair as REIT Explores Options

(6 days ago) Lampert Retires as Seritage Chair as REIT Explores Options. (Bloomberg) -- Hedge fund billionaire Edward Lampert stepped down as chair of Seritage Growth Properties as the real estate investment trust that emerged from the Sears bankruptcy reviews strategic alternatives. New York-based Seritage, the owner of 170 residential, retail and mixed

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New Zealand Bank Profits Jump 48% to Record After Housing

(9 days ago) New Zealand Bank Profits Jump 48% to Record After Housing Boom. Buildings stand in Auckland, New Zealand, on Wednesday, Sept. 16, 2020. New Zealand’s economy will endure a shallower recession than previously expected but the coronavirus pandemic will have a longer impact on the country’s finances, according to government projections.

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China Banking Regulator Welcomes Home Price Adjustments

(3 days ago) Officials recently tweaked their deleveraging campaign, including by easing a year-long cap on loans to the real estate sector to fund low-cost rental housing. Guo said China will roll out policies to provide services to the more than 300 million new urban dwellers that either don’t have permanent residence or received it recently.

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Brookfield Sells Stake in NYC Real Estate for About $1.4

(1 days ago) The company, which is the publicly traded real estate arm of Brookfield Asset Management Inc., plans to sell an additional 7 percent stake in the portfolio to institutional investors by the end of the year or in early 2019, for total proceeds of about $1.8 billion, executives said on Brookfield Property’s second-quarter earnings call Wednesday.

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China Banks Plan Yuan Bonds for Property M&A: Evergrande

(Just Now) China Real Estate’s $8 Trillion Borrowing Binge at a Crossroads, Bloomberg Intelligence Says (6:03 a.m. HK) China’s property industry faces another year of tight credit despite the call for banks to step up lending to the sector, Bloomberg Intelligence senior real-estate industry analyst Kristy Hung wrote in a note.

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PBOC’s Rate Decision Sparks Debate as Economy Comes Under

(2 days ago) Real Estate Powell Says U.S. Economy to Flourish, But Data Leave Room for Debate (Bloomberg) -- The U.S. economy picked up in February, but the data so far this month is more mixed -- leaving room for debate about whether the expansion will indeed “flourish” in the face of rising interest rates, as predicted by Federal Reserve Chair Jerome

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Fear and Confusion as New York Moves to

(9 days ago) The real estate industry plans to fight the new rules, but exactly how that effort will take shape wasn’t clear on Thursday, said Jesse Rhinier, an associate broker at City Connections Realty who serves on the board of REBNY, the influential trade association. “There’s no doubt fear is part of this,” Rhinier said in an interview.

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Lloyds Misses Profit Estimate, Plans Buyback and Fresh

(Just Now) Lloyds Banking Group Plc reported lower than expected profit in the fourth quarter, with one-time charges taking the shine off growth in lending, a new strategy and a 2 billion-pound ($2.7 billion) buyback. Profit before tax at Britain’s biggest mortgage lender increased 22% to 968 million pounds, the lender said in a statement.

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