PNT Reporter

17 May 2023

Despite a decline in the number of houses changing hands in the first quarter of 2023, new analysis from property tech start-up Geowox has revealed that the median price for a home in Ireland rose to €305,000. This represents an 8.9% increase from the same period in 2022. Dublin remains the most expensive county, with the median price of a home sold up 8.1% year-on-year. However, the number of transactions declined by 2.5% compared to Q1 2022, likely due to higher European Central Bank interest rates. Nonetheless, industry experts anticipate that prices will remain elevated due to long-standing supply issues.Read more

PNT Reporter

17 May 2023

The asking price for Tidewood, a Massachusetts coastal mansion where convicted sex trafficker Ghislaine Maxwell previously resided, has been lowered by almost $1 million. The property, located in Manchester-by-the-Sea and owned by a company linked to Maxwell's former partner, Scott Borgerson, is now available for $5.85 million. Tidewood was originally listed for sale at $7.8 million in April 2020, with the most recent asking price being $6.75 million. The property is considered one of the oldest in the state and features a blend of period details and modern upgrades.Read more

PNT Reporter

16 May 2023

The UK's housing market has seen homes being sold at a faster pace in several parts of England and Wales, according to a report from GetAgent.co.uk. The average time taken to sell a home in England and Wales has reduced to 44 days, despite the uncertainty caused by last September’s mini budget. However, this trend is not consistent across all regions. The report also showed that Westminster district, with the SW1Y postcode, had the quickest average time for selling a home, followed by Northumberland’s TD15 postcode. The recent report from Nationwide showed a slight improvement in the annual decline of house prices, with a 0.5% increase in April compared to March.Read more

PNT Reporter

16 May 2023

A waterfront property known as Palm Harbor, located in the Florida Keys and previously used as a location for fashion brand photoshoots, has been sold for a record-breaking price of $23 million for a single-parcel sale. This isn’t the first time the property has set a record, as it previously did so in 2015 when it sold for $13.125 million. Both sales were handled by Kelly K. Shaw, a broker associate with American Caribbean Real Estate, and her son Trent M. P. Shaw.Read more

PNT Reporter

15 May 2023

According to a report published last week by Realtor Magazine, the unstable market conditions in the US are causing homeowners to be reluctant to sell their properties, resulting in a serious shortage of supply. The number of homes listed for sale in April was significantly lower than pre-pandemic levels, and new listings dropped by 21.3% compared to the same period last year. Among the 50 largest metropolitan areas analysed in the report, only Austin, Texas had more inventory in April than the average levels seen between 2017 and 2019.Read more

PNT Reporter

15 May 2023

Last week, Sunac China Holdings Ltd, a property developer in China facing difficulties, announced that approximately 85% of its current bondholders have accepted a debt restructuring plan. Although the company had already met the minimum requirement for the plan in April, when creditors owning around 75% of its current debt had agreed to the proposal, some of them requested more time to complete certain internal processes.Read more

PNT Reporter

12 May 2023

Manthan Downtown is undergoing a revitalization project aimed at transforming the urban core. The project includes the conversion of vacant offices to residential spaces, mixed-use development, and the introduction of amenities to attract diverse residents, promote economic growth, and create a strong sense of community. The initiative offers incentives for developers, tax breaks for conversion projects, and affordable housing options. Additionally, there are efforts to improve green spaces, transportation options, and establish a vibrant atmosphere with various dining, shopping, and entertainment venues.Read more

PNT Reporter

12 May 2023

The Australian property market has seen a resurgence with home values increasing for two consecutive months, according to a report by CoreLogic. Sydney ranked first for April with a 1.3% increase in median home price compared to the previous month. The return of overseas buyers and a shortage of rental properties are cited as primary factors contributing to the positive trend. The stabilization of interest rates is also playing a role in the market's recovery.Read more

PNT Reporter

12 May 2023

Vonovia, one of Europe's largest residential real estate companies, has sold five properties to CBRE Investment Management for around 560 million euros. The sale is due to the negative impact of high interest rates and increasing costs of construction and energy on property values. Two of the properties have a total of 1,350 residential units and are in the final stages of construction, with an expected completion date of August 2023. Despite a decrease in group funds from operations in the first quarter, Vonovia's CEO expressed optimism for the real estate sector due to the recently closed deal.Read more

PNT Reporter

11 May 2023

The U.S. housing market is experiencing a substantial decline in home listings, with new listings down by 22.4% year over year due to homeowners' reluctance to sell. This scarcity has led to a competitive market and prevented prices from falling rapidly. Although pending home sales have decreased, homes are selling quickly, with almost half selling within two weeks. The impact on prices has varied across different U.S. metro areas, with some experiencing significant declines while others see increases. Prospective sellers may be encouraged to enter the market as sustained high home prices may balance the supply-demand dynamics in the future.Read more