The Confederation of British Industry, UK’s leading lobbying organization, suggested that the forthcoming 2013 Budget should be centrally focused on creating around 50,000 new homes in order to reduce fiscal deficit. Moreover, the British Chambers of Commerce supported the plea put forward by the CBI to promote infrastructure.
On the 19th of November, Archstone Inc. stated that it expected to collect an amount of almost $3.45 billion in its first public offering. If the plans come true, the Archstone Inc.’s IPO will be, without a doubt, the largest commercial US real estate IPO of all time.
The UK construction sector shrunk for a second straight month in September as production and new orders continued to decline. The level of business morale was even closer to its lowest one when Britain entered recession in 2008. The PMI for UK construction sector, however, increased slightly to 49.5.
Manhattan inventory of properties for sales shrunk to the lowest level in seven years, creating one more obstacle for potential buyers. Owners have been deciding to refrain their properties as the prices on the market are flat. Despite a visible drop in Manhattan apartments inventory, the apartment sales grew in the third quarter of 2012 reaching the highest level since the financial crisis started; as demand strengthened.
Home prices continued rising in July across the United States. According to reports, home prices in the U.S. biggest cities have risen to the highest level in almost two years. A strong summer selling season has put the real estate market on its feet since the big estate bubble broke nearly 5 years ago. The real estate market in the U.S. has been stabilizing as sales and prices are up, and more homeowners do not have problems with paying their mortgage payments on time.
Lennar Corp., the third-largest U.S. homebuilder by revenue, reported higher fiscal third-quarter earnings as demand for new homes jumped. The Lennar Corp.’s earnings results are also sharply higher because of a tax benefit. Yet analysts are not too optimistic about the future of the company as they saw Lennar Corp.’s shares dropped.
Newbury Racecourse Plc has informed that it agreed to sell part of the land to David Wilson Homes, the property developer, who intends to build approximately 1,500 homes in the next 10 years.According to the deal, David Wilson will pay £42.6m for the land, with the proceeds funding new racecourse facilities as well.
A huge mansion, which is said to be most expensive in London, is for sale for the sum of £300 million. The Britain’s most expensive house, which is currently on sale, was the former residence of the Lebanese Prime Minister and Saudi crown prince. The house, 2-8a Rutland Gate with a view of Hyde Park, bullet-proof windows and an underground car park, is believed to be the most expensive one ever marketed in the Britain.
The latest construction trade survey from the Construction Products Association in the United Kingdom reported that construction output to fall by1.1% in 2011 and 3.6% in 2012, with no return to growth until 2014. The reason for this is the drop in public sector investment spending, coupled with the inability of the private sector to pick up the slack. These numbers are particularly surprising as the country prepares for the 2012 Summer Olympics in London.
Produced by Rachel Allen Started by Mr. Jagdish Ahuja over 25 years ago, Ahuja Constructions today is one of India’s leading building and construction companies. The Ahuja Group was recently awarded the title of creating the “Best High-rise Architecture in India” at the Asia Pacific Property Awards. For almost the last two decades, the Ahuja […]
Following three straight months of declining new home sales, the American housing market displayed a small recovery in the month of March, with an 11.1% rise in the number of new homes being bought in the world’s largest economy. The rise in the number of new homes sold in March was accompanied by a 2.9% […]
Kajima, Taisei see Record Highs Japan’s largest construction firm, Kajima, rose 22% to 259 yen, the biggest increase since Oct. 14, 2008, while the nation’s third-largest builder, Taisei Corp., climbed 20% to 223 yen, the largest jump since April 24, 2000. Advancing 6.4% as of the 3 p.m. close in Tokyo trading yesterday, Japan’s 95-member […]
To alleviate the 80,000 units per annum estimated housing shortage in the U.K, the Royal Institution of Chartered Surveyors (RICS) has identified the return of prefab as the most suitable solution! Team that with making these new prefab homes out of recycled plastic, and pricing them at as little as £20,000, and bingo! How many birds […]
Antilla, the new home of the world’s 5th richest man, Mukesh Ambani, currently figures as the world’s most expensive home – in fact, the world’s first-ever billion-dollar home! With an estimated value of £630 Million, Antilla Mumbai, a custom-built 27-storey towering mansion overtook Villa Leopolda, owned by Russian billionaire called Mikhail Proklhorov (24th richest man […]