If you’re looking for a little more entertainment on your daily dose of real estate, check out PropertyNews.com. It’s a sister company to Tajarat Properties, where the goal is to provide you with videos and other articles relevant to the entertainment industry. Interested in learning more about the different property markets? Check out our other articles, too. We have articles on Scandinavian, UK and Australian property news, and many more.
New York City’s new real estate “normal”
The real estate market in New York City has seen a dramatic decline in sales in recent months, but it has not completely shut down. Since the pandemic hit, many foreign buyers have been staying away from the city. While European currencies have remained low, a lack of foreign investment has caused a significant supply problem, keeping prices high. In the meantime, domestic buyers have remained the major driving force in the market.
In recent months, there have been some scary reports about the real estate market in New York. However, an overall picture of New York City real estate shows that there are several reasons to worry. For example, many Manhattan condo buyers have been on the sidelines, fearing the impact of the new tax law on the stock market and interest rates. If you can wait that long, you will likely lose your leverage.
Coworking in self-storage properties
Unlike a home office, coworking spaces allow tenants to use them as a workspace. In addition to providing a workspace, these properties are also perfect for storing important materials and inventory. Self storage units are available for rent on a month-by-month basis. Entrepreneurs can take advantage of this service when they need it. In addition to being convenient for both business owners and coworking tenants, self storage units are often available for rent by the month.
The concept of coworking is nothing new. Since its inception in the mid-2000s, it has spread significantly. Today, it offers flexible, affordable office space for businesses and freelancers. The shared environment encourages collaboration and creativity, and most coworking spaces include shared office resources such as printers, copiers, and good coffee. However, not all coworking members need space to store their items and materials.
Scandinavian property news
The recent drop in Scandinavian property prices may have triggered a flight to quality. This flight to quality is beneficial for both property buyers and lenders. While the region’s property market has remained buoyant and shock-resistant for years, recent signs point to further slowdown in the short term. But despite these signs, Scandinavia remains one of Europe’s most dynamic real estate markets. Below are some of the key developments that are shaping up the Nordic market in 2014.
In the Nordic countries, hotel sales increased in the first half of the year, but the trend has since peter out. Only in the past decade have Nordic property markets seen transaction volumes above EUR 45 billion. However, the first half of the year is traditionally a lull for property sales. This is expected to change in 2021, when sales volumes are expected to surpass EUR 50bn. In the meantime, Nordic real estate markets are still attracting international buyers.
UK property news
The latest UK property news is a mixed bag. The latest data showed house prices continued to rise over the last month, but the mood is somewhat gloomy with downbeat economic forecasts and data. Despite the early signs of a bearish economy, house prices are still registering double digit annual growth. There are also plenty of interesting new developments in the pipeline. For instance, the Surrenden Invest monthly newsletter contains valuable insights into trends in the property market.
The rental sector is also a hot topic, with the recent Queen’s Speech announcing the abolition of no fault evictions. Another major announcement was the creation of an official private rental property portal, which will list properties for rent and landlords and letting agents. However, registration of these entities will be conditional upon their registration with an Ombudsman property redress scheme. It’s possible that these changes could drive many landlords out of the rental market and reduce rental stock.