Staff Reporter

  • Jeremy Lin’s rent deal done
    Jeremy Lin, a rising basketball star just two weeks ago, signed a contract to rent a 38th floor furnished condo at the W New York Downtown Hotel.
  • Citigroup and Northland Capital assign 'Buy' rating on Bovis Homes
    Bovis Homes Group, the builder of traditional homes in England and Wales is scheduled to report its preliminary 2011 results on Monday, February 27 amid reports that Citigroup has assigned "Buy" rating on the stock, while Panmure Gordon recommends "Hold" rating with a target price of 450 pence per share.
  • Sears Holdings will sell 11 stores for needed $770 million
    Sears Holdings Corporation & General Growth Properties had reached a definitive agreement for the acquisition of 11 Sears anchor pads with its portfolio for $270 million on Thursday.
  • Buyer competition in prime Central London much fiercer
    Sustained domestic and overseas demand for property in prime Central London has caused a further 25% drop in stock levels at the start of this year, reports property consultants Cluttons.
  • Plaza Hotel's $33.5 Million, $8.3 Million Condos Sold
    Manhattan's venerable Plaza Hotel, site of a $48 million sale in 2011, has seen two more big deals to start off 2012. One of the building's penthouses, #PH2009, has been sold, according to StreetEasy. The deal hasn't closed yet, but the last asking price was $33.5 million.
  • China City 'clarifies' policy on second-home purchases
    People who have held Shanghai resident cards for more than three years are eligible to buy a second home despite their non-permanent residence status, a municipal housing official confirmed to local media for the first time, triggering market rumors that housing regulations would be eased in the city.
  • Madison Club is under construction for fans of Jeremy Lin
    Madison Square Garden will provide more than $40,000 a seat for fans wanting to see Knicks and Rangers home game next season, according to the Wall Street Journal reported.
  • U.S. Mortgage Rates Rise to 3.95 Percent
    U.S. 30-year fixed-rate mortgage rates rose to 3.95 percent in the week ending Feb. 23 from a record low of 3.87 in the previous week, Freddie Mac said.
  • Mortgage servicer Ocwen reported 2011 revenue rising by 38%
    Ocwen Financial Corporation(NYSE:OCN), a leading provider of residential and commercial loan servicing, special servicing and asset management services, reported Net income of $9.7 million, $0.08 per share, for the fourth quarter of 2011, compared to Net income of $9.9 million, $0.09 per share last year on Thursday.
  • Hailifax: Weak economy takes its toll on UK property prices
    Residential property prices in the UK are higher now than they were in 2007 in just two areas of the country.
  • Jefferies Assigns 'Buy' Rating for Hammerson Plc
    Hammerson, the real estate investment trust is scheduled to release its full year 2011 results next week amid reports that Jefferies has assigned 'Buy' rating on the stock with a target price of 447 pence per share.
  • UK hotel property market has positive outlook
    The UK's hotel property investment market is busy as transaction volumes continue unabated, according to consultants Colliers International.
  • Egypt’s property markets have a positive outlook
    Cairo's commercial real estate market is showing growth, with major companies looking for up to 15,000 square metres of office space, according to the latest report from consultants Jones Lang LaSalle.
  • UK Land Registry launches campaign against property fraud
    Property is usually the most valuable asset people own. It can be sold and mortgaged to raise money and is therefore an attractive target for fraudsters, as the UK land registry is warning.
  • FHFA release plan for Fannie and Freddie out
    Federal Housing Finance Agency (FHFA) Acting Director Edward J.DeMarco sent to Congress a strategic plan for the next phase of the conservatorships of Fannie Mae and Freddie Mac (the Enterprises) on Tuesday.
  • US Existing Home Sales Rise, Inventory Down
    US existing-home sales rose in January, marking three gains in the past four months, while inventories continued to improve, according to the latest report from National Association of Realtors.
  • Brad Pitt to Build Croatian Beach Resort: Report
    Actor Brad Pitt may soon have a new role: real estate developer. Croatian paper Jutamji List reported that Pitt has partnered with businessman Danko Koncar and actor Rade Serbedzija to build a luxury waterfront resort in the Brijuni Islands in the Adriatic Sea.
  • U.S. Existing Home Sales Rise to 4.57M in January, But Miss Expectations
    Sales of existing U.S. homes rose 4.3 percent to 4.57 million in January, up from a revised 4.38 million in December, according to the National Assocation of Realtors, marking further improvement in the housing market as interest rates remained low and the job market saw gains.
  • UK landlords more confident
    Almost 70% of landlords were more confident about the UK buy to let market in January than they were at the end of 2011, according to new research from online lettings agency Upad shows.
  • Jeremy Lin Renting $2.3 Million Apartment at W Downtown Hotel
    Jeremy Lin, the rising New York Knicks star, will rent a condo at the W Downtown Hotel & Residences in Lower Manhattan in addition to his new apartment at Trump Tower in White Plains, N.Y.
  • Toll Brothers remains positive despite a quarterly loss
    Toll Brothers, Inc. (NYSE:TOL), the nation's leading builder of luxury homes, reported a FY 2012 first-quarter net loss of $2.8 million, or $0.02 per share diluted, compared to FY 2011's first-quarter net income of $3.4 million, or $0.02 per share diluted, according today's announced results of Toll Brothers.
  • Dubai residential market is now secure and transparent
    Dubai residential real estate market is now more secure and transparent, enticing investment back to the city. The residential sales market has continued to build on what has been a positive start to 2012.
  • Equity Residential Hikes Potential Bid for Archstone Stake to $1.48B
    Real estate mogul Sam Zell's Equity Residential (NYSE:EQR) has raised its minimum bid for a 26.5 percent stake in the long-running battle for control of Archstone, owner of more than 70,000 U.S. apartment units. Earlier this week, the minimum bid was raised to $1.48 billion from $1.32 billion by Bank of America Corp. and Barclays Plc, which own the minority stake in the company. The banks also extended the deadline for Equity's option to buy the stake to April 19 from Feb. 19.
  • First Time Buyers Are Making the Most Of Stamp Duty Holiday
    More First Time Buyers (FTBs) came through estate agents' doors than at any point in the previous eight months, according to the National Association of Estate Agents (NAEA) today.
  • Columbus Circle Condo Sells for $19.4 Million
    A condo in the shimmering twin towers at 25 Columbus Circle in Manhattan has sold for $19.4 million, according to city records.
  • BGC Partners to Buy Grubb & Ellis as Brokerage Files for Bankruptcy
    Howard Lutnick's BGC Partners Inc. (NASDAQ: BGCP) has agreed to buy the commercial real estate brokerage Grubb & Ellis Co.(PINK:GRBE), which will file for Chapter 11 bankruptcy protection after declining revenue from the commercial real estate bust.
  • Fannie Mae: Growth Expectations Modest at Start of Year
    Solid Q4 2011 Economic Growth Provides Early 2012 Momentum, but Pace Expected to Slow for Remainder of the Year
  • China home prices drop in Jan from policies
    Property prices in more than two thirds of China's major cities dropped further in January from the previous month, according to the latest result of survey from National Bureau of Statistics of China.
  • New tax on new developments in London set for 1st April
    New tax on new developments in London set for 1st April New tax on new developments in London set for 1st April The Mayor of London intends to implement his London Wide Community Infrastructure Levy (CIL) from the beginning of April 2012 which means that any development that receives planning permission after the first of the month is liable for the charge.
  • Presidents Day 2012: Controversy Engulfs Eisenhower Memorial
    Along Washington, D.C.'s National Mall, an array of neoclassical monuments give tribute to the country's leaders. But a new arrival breaks the mold and has caused recent controversy.
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