There are so many real estate articles out there — and so little time! For busy investors looking to take a quick reading break, look no further than our list of recommended reading for the week. From advice and investment tips to market reviews, we’re highlighting the stuff that’s really worth your time.
So sit back, and take a break. These were the 5 Must-Read Real Estate Articles of The Past Week:
British commercial real estate is among the asset classes most vulnerable to a shock if the U.K. votes to leave the European Union. But judging from the recent share performance of the country’s publicly listed property companies, investors don’t seem to care. The FTSE 350 index of U.K. stocks is down 8.1% from a year ago. But real-estate investment trusts included in that index are down just 6.8%. The U.K.’s two largest REITs—Land Securities Group PLC and British Land Company PLC—have performed slightly worse than their property peers, but not by much.
In the escalating arms race of luxury real estate, sellers have a new, not-so-secret weapon: Celebrity brokers. CNBC’s “Secret Lives of the Super Rich” asked three of the top celebrity brokers on the East and West coasts how they’re using their fame to sell some of the most expensive listings in the U.S. Ryan Serhant, who appears on Bravo’s “Million Dollar Listing New York,”leads one of the top-selling teams in the state. (Like CNBC, Bravo is a unit of Comcast’s NBCUniversal.)
By C. J. Hughes via The New York Times
The number of home sales in the Bronx soared in the first quarter of this year by 35 percent, far outpacing Manhattan, Brooklyn and Queens. In Staten Island, sales also jumped 35 percent, but activity there has been inconsistent over the past several years, whereas the Bronx has experienced a steady climb. Although the number of transactions in the Bronx compared with the rest of the city is still relatively small, the increase in deals may indicate that the borough is at last living down its rough-and-tumble reputation. Brokers say the sales were not only to buyers moving within the Bronx, but also to people who had been priced out of Manhattan and other areas.
By Peter Grant via The Wall Street Journal
Commercial property sales have slowed in the U.S. this year—but Chinese investors are continuing to plow money into the market. So far in 2016, Chinese companies have purchased or are buying 47 U.S. properties worth $9.3 billion, according to deal tracker Real Capital Analytics. That makes them the most active foreign buyers in the U.S., with more than double Canada’s $4.2 billion worth of deals. By contrast, for all of last year Chinese investors did 71 U.S. deals worth $6 billion.
By Lois Weiss via New York Post
The Technology, Advertising, Media and Information companies, collectively known as TAMI tenants, are increasingly taking over the office leasing market as these small incubating companies grow into Amazonian-like monsters. According to Cushman & Wakefield, over 100 TAMIs are now seeking some 4 million square feet of space. While the majority are focusing on offices of 10,000 feet to 100,000 feet, seven of those hundred are searching for over 100,000 feet, and a few are also new to New York City.
Did you like these articles? What were your favorite articles this week?