Here is the Latest Real Estate News Roundup
The UBS Swiss Real Estate Bubble Index continues its climb
The UBS Swiss Real Estate Bubble Index currently stands at 1.11, representing an increase of 0.09 index points compared to the previous quarter. The index lies clearly in the risk zone, confirming the increased imbalances in the real estate market.
Investor demand for real estate remains high, house prices exceed income even more and the debt goes on rising. Reports UBS.
Commercial Real Estate Investors Eyeing on Major Asian Markets with Rising Confidence
According to RICS Global Commercial Property Survey, Asian markets continue to outperform Europe with positive investor sentiment, says RICS.
The China market continues to perform well on both the occupier and investment sides. Strong domestic consumption remains a key support for the former although the new supply coming onto the market suggests the positive momentum in rents may moderate over the coming months. Meanwhile, the investment market continues to be underpinned by a firm trend in new enquiries to purchase property.
Milestone Apartments REIT Files Preliminary Prospectus for IPO
Milestone Apartments Real Estate Investment Trust (the "REIT") announced that it has filed, and obtained a receipt for, a preliminary prospectus for the initial public offering of trust units with the securities commissions of all provinces and territories in Canada. A syndicate of underwriters co-led by BMO Capital Markets and CIBC is underwriting the proposed offering.
SL Green Buys Manhattan Retail Property for $122 Million
SL Green Realty Corp. has paid $122.3 million, or $1,790/sf, for a 68,342-square-foot retail/loft property in the Soho section of lower Manhattan. The New York REIT bought the property, two adjacent six-story buildings at 131-137 Spring St., from the Willet Cos. of Rye, N.Y., which had purchased it in 2006 for $46 million.
Cominar announces acquisition of a portfolio of 18 industrial properties
Cominar Real Estate Investment Trust has announced the acquisition of a high-quality portfolio of 18 industrial properties primarily located on the South Shore of Montreal and one office property located in Montreal, for a purchase price of $149.8 million. The portfolio represents a total of approximately 1.8 million square feet of leasable area, consisting of approximately 1.7 million square feet of industrial space and approximately 0.1 million square feet of office space.
Greater London saw prices rise and properties sell faster
Asking prices for properties in the Greater London region increased in December and sold faster than normal during what is normally a slow month for the UK's residential property market
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