Tuesday , December 12 2017

Real Estate

Why Michael Jackson’s Neverland Ranch still isn’t bagging any bidders

epa01776012 (FILE) A file photo shows an aerial view of the Neverland Ranch of late US pop star Michael Jackson in Santa Ynez, 20 November 2003. Uncertainty surrounds the Jackson estate after his unexpected death on 25 June 2009. In November 2008 Jackson had to hand over the title on his Neverland estate in California to a company made up of himself and Los Angeles-based real estate investment trust Colony Capital LLC, the firm that holds his 23 million dollar loan on the property.  EPA/ARMANDO ARORIYO

Bloomberg Almost a year ago, in May 2015, Michael Jackson’s former Neverland Ranch hit the market. The 12,598-square-foot French Normandy-style home sits on 2,698 acres in the Santa Ynez Valley, northeast of Los Angeles. It has six-bedrooms, a four-acre lake with waterfall, an outdoor barbecue, a pool house, three guest ...

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Shenzhen’s banks asked to tighten household mortgage loan standards

Bloomberg A research unit of China’s central bank branch in Shenzhen asked commercial banks in the city to strengthen risk-control practices on household mortgage loans as property prices have soared. Mortgage leverage in Shenzhen has been far higher than in other first-tier cities since 2015, and has accumulated risks, according ...

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Chinese buy one-third of Vancouver homes: Toronto also records purchases

VANCOUVER, BC., February 29, 2016 -- For Sale signs on Grandview Highway to illustrate any real estate story in Vancouver, BC., February 29, 2016.  (Nick Procaylo/PNG)   00041980A

Bloomberg Buyers from China comprised about one-third of purchases of Vancouver’s hot housing market in 2015, according to “back of the envelope calculations” by National Bank of Canada. Chinese investors spent about C$12.7 billion ($9.6 billion) on real estate in the western Canadian city in 2015, or 33 percent of ...

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Bigger is better for Singapore REITs facing consolidation

Singapore reits copy

Bloomberg Singapore’s real estate investment trust market is set to consolidate as smaller vehicles merge to cope with rising regulatory costs, according to Cambridge Industrial Trust. “The wave of consolidation for Singapore REITs is about to begin,” Philip Levinson, chief executive officer at Singapore-listed Cambridge Industrial, said. The trust has ...

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