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:
By Art Patnaude and Peter Grant via the Wall Street Journal
Investors are pushing commercial real-estate prices to record levels in cities around the world, fueling concerns that the global property market is overheating. The valuations of office buildings sold in London, Hong Kong, Osaka and Chicago hit record highs in the second quarter of this year, on a price per square foot basis, and reached post-2009 highs in New York, Los Angeles, Berlin and Sydney, according to industry tracker Real Capital Analytics. Deal activity is soaring as well. The value of U.S. commercial real-estate transactions in the first half of 2015 jumped 36% from a year earlier to $225.1 billion, ahead of the pace set in 2006, according to Real Capital. In Europe, transaction values shot up 37% to €135 billion ($148 billion), the strongest start to a year since 2007.
By Konrad Putzier via The Real Deal
In a stunning move, the Chinese government devalued its currency, the renminbi, by 1.9 percent against the dollar – the greatest single-day markdown since 1994. The move appears in part designed to curb capital outflows from China, which would give New York real estate, an industry that has benefitted from these outflows like few others, something to think about. Understanding how the move could affect the Big Apple requires a gander at China’s macroeconomic environment: As China’s economy has slowed down over the past year, the People’s Bank of China, the country’s central bank, has repeatedly cut interest rates to boost lending and kick-start a struggling economy.
By Robert Massi via Fox News
Adding commercial real estate to an investment portfolio used to be reserved for the very wealthy, but thanks to new technology, anyone with a few bucks and an appetite for risk can find an entry point for investment these days. And with the commercial real estate market making a comeback in key cities, it might be a smart investment. Companies like Fundrise and Realty Mogul – with more popping up every day – use crowdfunding, an online method for aggregating capital from multiple smaller investors, to enable a pool of investors to directly access proposed commercial real estate ventures.
By Cicely Wedgeworth via Realtor.com
Forget Beverly Hills’ 90210. You want hot? Scalding hot? Housing market hot? The ZIP codes 02176 (Melrose, MA), 43085 (Worthington, OH), and 58103 (Fargo, ND) are where it’s at today, according to an exclusive analysis by our economic data team that resulted in a list of the top 10 hottest ZIPs in the United States. Homes in these top 10 communities sell four to nine times faster than the national average, and spend 20 fewer days on the market than their respective metropolitan statistical areas. Their listings on our site are viewed three to eight times more often than overall U.S. listings—an average of 2.3 times more often than their respective metros.
By Stephanie Dhue via CNBC
Boston real estate kicked into high gear this spring, after record-setting snows kept homes off the market and buyers inside. Home sales in Boston were up nearly 9 percent in June from a year ago, even as the inventory of homes for sale decreased, according to the Greater Boston Association of Realtors. That helped drive the median home price to over $400,000, a 5.5 percent increase from a year ago, figures CoreLogic. Boston gets its economic strength from health care, finance and education. World-class universities and hospitals; think Harvard, MIT and Massachusetts General to name a few, also help boost a thriving biotech industry. State Street and Fidelity anchor a strong financial services sector. That economic power has kept demand for homes stronger than supply.
Did you like these articles? What were your favorite articles this week?