Investing

UK Commercial Real Estate Down With Lower Global Investors Appetite Over Brexit

Recent data from the Royal Institution of Chartered Surveyors (RICS) showed a steady decline in global investments in the U.K. driven by fears of a Brexit ahead of the EU referendum in June.

Canada’s House Prices Keep Soaring; First-Time Homebuyers Acquire With Friends

Canada saw another house prices surge in March by 0.8 percent, The Globe and Mail reported. This is the largest increase the market has recorded for a month in eight years.

Loophole Provides Savings for Wealthy Property Buyers

The current tax imposable on transfers on real property is pegged at one percent for the first $200,000. The rate increases to two percent when the property is worth $2 million and anything over that is taxed at three percent. Many first time buyers are exempt from this tax. With this tax alone, a projected $1.5 billion in revenues are expected to be collected between 2015 and 2016 alone.
EDITOR'S PICKS
  • Hot Summer Good for Real Estate Purchases
    There are many reasons why spring is busy for real estate. One of the reasons is that homes look better during spring. This causes listings to expand and increase available inventory. Alongside this is the increase of potential buyers interested in purchasing a home at this period. With these two factors, home prices naturally would increase as demand increases.
    By Staff writer
  • Largest Ghost City in China at 90 Percent
    With previous articles showing that Ordos Kangbashi as the "largest ghost city in China", recent reports have started to dispute the assertion. Recent government announcements said that the city is at 90 percent occupancy.
    By Staff writer
  • Rents in London Set to Surpass £2,000
    As of the moment, the average rental cost is at £1,867 per month. This was 2 percent higher from prices at the start of 2015 as observed by real estate agent Portico's London Rental Market Report. In the said report, based on its historical data, two bedroom homes would reach £2,008 per calendar month by the time September comes around.
    By Staff writer
  • Spring 2016 Draws More Home Buyers, More Money
    Spring 2016 comes with a 5.1% increase in the sales of existing homes against the newly built residences in March from the previous month’s 1.5% from a similar period last year. The buyers closed on a total of 5.33 million of townhouses, single-family homes, condominiums and co-ops last month based on the seasonally adjusted figures in a recent report.
    By Staff Reporter
  • UK Home Sales, Mortgage Lending More Than Doubled Ahead of Stamp Duty
    Real estate market activities in the United Kingdom have surged as many buyers and sellers tried to beat the stamp duty implementation. Both sales and mortgage lending figures rose more than twice in March compared to a year ago.
    By Staff Reporter
  • Home Sales Volume Above Expectations
    The reported volume for March was higher than February's annualized rate of 5.07 million. Previously, projected sales forecast was pegged at 3.5 percent or a volume of 5.30 million units for March. As reported, sales increased by 1.5 percent from last year's volume.
    By Staff writer
  • Digitization Revolutionizing Real Estate Market
    With the digital age overtaking many established markets, only time will tell until it reaches and dominates the real estate market. The main problem is, according to a report from CNBC, government agencies and established companies are too slow to adjust to the changing times.
    By Staff writer
  • Earth Day Influences Future Home Designs
    The major obstacle to going green is the cost. The Forbes report, quoting CrediFi, estimated that an additional 10 percent to 30 percent cost would be shouldered by the developer.
    By Staff writer
  • Luxury Real Estate Markets Levelling Off Despite New Inventory
    Houses that are priced at the top of the luxury market felt a decline in demand compared to the last quarter of 2015. The average sale price of a home in the Hamptons, one of the luxury neighborhoods in the US, was at $8.8 million for the first quarter of 2016. In 2015, a similar home in the same luxury neighborhood was at $12.3 million.
    By Staff writer
  • New York City Living: How Expensive is It to Live in the Big Apple?
    Planning to relocate to New York soon? It's important to know first how much the cost of living is in the city.
    By Staff Reporter
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