India property conglomerate Indiabulls is expanding in the GCC, less than a year after it opened its first office in the region in Dubai. The company says it will open offices in Bahrain and Saudi by the end of the year, as its looks to expand its financing and development profile in the region.
Al Capone's former Palm Island estate sold for $7.43 million, after undergoing several renovations and spending a year on the market. Known for infamous crime sprees in Chicago, the Brooklyn native mob boss moved to Miami and purchased the 30,000-square-foot property for $40,000 in cash from Clarence Busch of the Anheuser-Busch family in 1928, according to NBC News.
Home prices in the U.K. increased by 2.6 percent in April from the previous year, with London outpacing the rest of the country, according to data from the Office for National Statistics released today. The year-over-year increase showed a 2.8 percent increase in England and 6.2 percent increase in Wales.
Housing starts in the U.S. increased 6.8 percent in May from April, providing more optimism about a general housing recovery. The number of starts rose to an annual rate 914,000, 28.6 percent higher than the rate of 711,000 in May 2012, according to the Department of Housing and Urban Development statistics released today.
Private islands are the ultimate status symbol. Water separates the owners from their peers-- and the cold cruel reality of the outside world. Surrounded by water, a home becomes a kingdom. As far as personal kingdom fantasies go, it's reasonably obtainable.
Second home hunters looking for an overseas property near a clean, safe beach are spoilt for choice in Turkey, according to Turkish property specialist Spot Blue. Some 383 beaches have been awarded the coveted Blue Flag status this year, the most the country has ever achieved and 59 more than in 2012. It means that Turkey now has the third highest number of Blue Flag beaches out of all 48 countries that participate in scheme.
UK commercial property performance was positive in May with capital values increasing by 0.1% across all property sectors, a new report shows. So far this year, UK capital values have declined by 0.3% and for the month, total returns remained at 0.6% delivering 2.4% over the year to date, according to the latest CBRE UK Monthly Index.
UK house prices increased 2.6% in the 12 months to the end of April, down from a 2.7% increase in the 12 months to March 2013, the latest figures from the Office of National Statistics show. The monthly report says that house price growth remains stable across most of the UK, although prices in London are increasing faster than the country average.
Expectations for house prices in the UK have reached a three year high but there is a risk of a house price bubble, according to a new report from the Building Societies Association. One in five first time buyers say that government schemes like Help to Buy will help them get onto the property ladder, says the BSA’s quarterly Property Tracker report but many believe they are facing rising prices.
Landlord investment in residential property has increased significantly over the past three months despite a slight easing of tenant demand, new research shows. In addition to more landlords buying properties, the number of landlords selling their properties is also down, according to the survey by the Association of Residential Letting Agents (ARLA).
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