property News

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Kengo Kuma’s Yama-Tani: A Human-Scaled Masterpiece in Paris

Kengo Kuma & Associates have introduced an architectural gem in the northeast of Paris with the Yama-Tani residential building. Unlike the towering structures surrounding it, Yama-Tani blends seamlessly with its low-rise neighborhood, offering a refreshing departure from the city’s typical high-rises. Designed to evoke a village-like atmosphere within an urban setting, this development emphasizes both human scale and a deep connection with nature. A Village in the City The Yama-Tani project stands as a testament to the firm’s commitment to designing with nature in mind. The name “Yama-Tani” translates to “mountain-valley,” reflecting the building’s organic, flowing form. Its stepped structure,

October 14, 2024 No Comments

property News

Sudbury’s $1.7M Grant Hinges on Old Hospital Demolition

Sudbury’s downtown revitalization could soon get a boost as Panoramic Properties seeks a $1.7 million municipal grant to renovate the Scotia Tower into residential units. However, Mayor Paul Lefebvre has placed a condition on the grant: the old, long-vacant hospital building on Paris Street, also owned by Panoramic Properties, must be demolished. The Scotia Tower project, set to add 83 residential units downtown, is part of a larger housing initiative that aligns with the city’s Housing Supply Strategy and Downtown Master Plan. Despite the potential benefits, public sentiment in Sudbury has long been frustrated by the neglected state of the

October 11, 2024 No Comments

property News

Vancouver Condo Market Dominated by Investors Favoring Smaller Units

The Vancouver condo market is being heavily influenced by investors who prefer smaller units, according to recent data from Statistics Canada’s Canadian Housing Statistics Program (CHSP). This trend reflects a growing investor preference for maximizing returns through higher rent per square foot, which tends to be more lucrative for compact living spaces. In Vancouver, where property prices continue to soar, around one-third of all condos are investment properties. These units, particularly those under 600 square feet, offer investors a greater rental yield compared to larger units. A key reason for this is the higher rent per square foot associated with

October 10, 2024 No Comments

News

Proposition 33: The Heated Debate Over California’s Rent Control Measure

California’s Proposition 33 has sparked a fierce debate as it heads to the November 2024 ballot. This controversial measure, which could transform the state’s rental market, has supporters and opponents clashing over its potential impacts on housing affordability and the broader economy. With both sides launching aggressive campaigns, the conversation around Prop 33 is becoming increasingly heated, dominating airwaves and online platforms. What is Proposition 33? Proposition 33 aims to address California’s ongoing housing affordability crisis by repealing the Costa-Hawkins Rental Housing Act of 1995. Currently, Costa-Hawkins allows rent control only on housing units built before 1995. It also permits

October 9, 2024 No Comments

property News

The Disappearing Act of Affordable Housing: A Growing Crisis in the U.S.

Affordable housing in the U.S. is on the brink of a major crisis, as thousands of units built under the Low-Income Housing Tax Credit (LIHTC) program are set to expire in the coming years. This program, which has been in place since 1986, has been responsible for creating 3.6 million affordable housing units, yet many of these units are nearing the end of their 30-year affordability period. For tenants like Marina Maalouf, a longtime resident of Hillside Villa in Los Angeles, this expiration marks a significant threat to their livelihood. Marina’s rent doubled in 2021 after her building’s LIHTC contract

October 8, 2024 No Comments

Hong Kong News

Can China’s Property Market Rebound During Golden Week?

China’s property market, long troubled by a significant economic slowdown, is attempting to rebound during the National Day Golden Week holiday. As part of a renewed effort to revitalize the struggling sector, local governments, developers, and cities are rolling out extensive promotional campaigns to attract homebuyers. The timing is critical, as Beijing has recently introduced a series of stimulus policies aimed at breathing new life into the real estate sector. Beijing’s New Stimulus Policies In late September, just before Golden Week, the People’s Bank of China (PBOC) introduced several key measures to spur property sales. The mortgage rate was cut

October 7, 2024 No Comments

Hong Kong News

China’s Stimulus Revives Investor Interest in Troubled Property Bonds

China’s recent stimulus measures have sparked renewed interest from both Chinese and global investors in the country’s beleaguered property sector, particularly in offshore bonds. These efforts, aimed at stabilizing the economy and reviving the real estate market, have led to significant rallies in bonds that were previously distressed. The aggressive stimulus package, announced on October 1, 2024, represents the most comprehensive effort by the Chinese government to support the property sector since the COVID-19 pandemic. This development has attracted substantial investment, including from Beijing G Capital Private Fund Management, which placed its first orders for property bonds in several months.

October 6, 2024 No Comments

property News

Manhattan’s Luxury Real Estate Booms Despite Supply Shortages

The Manhattan luxury real estate market experienced a surge in home contracts during the third quarter of 2024, despite a notable decrease in available listings. According to recent reports, sales of residential properties priced at $20 million or more saw a 16.7% year-over-year increase, signaling a significant uptick in high-end property activity. Historically, real estate activity in Manhattan tends to slow down during the summer months. However, the third quarter saw a surprising rise in ultra-luxury home deals, driven by a strong stock market and lower interest rates. Compass, a leading brokerage, reported a 15.4% jump in contracts for homes

October 5, 2024 No Comments

News

Silver Lake’s Silva Apartment: A New Landmark in LA’s Hot Market

A new chapter begins in Silver Lake, Los Angeles, as Cityview and Wafra secure a $73 million loan from 3650 REIT to acquire Silva, a newly built Class-A apartment community. Located at 235 N. Hoover Ave, Silva boasts 360-degree views of iconic landmarks like Hollywood, Downtown LA, and West Los Angeles, offering residents a unique combination of luxury and convenience. With 221 units averaging nearly 1,000 square feet, each home features modern amenities such as 9-foot ceilings and floor-to-ceiling windows. This prime location, only a mile from the heart of Silver Lake, is renowned for its vibrant culinary scene and

October 4, 2024 No Comments

News

New Yorkers Say ‘Yes’ to Affordable Housing: The “City of Yes” Initiative

New Yorkers are uniting for a future where affordable housing is within reach, thanks to the approval of the “City of Yes for Housing Opportunity” proposal. This initiative, marking a pivotal change in the city’s zoning code, aims to address the housing crisis and meet the growing demand for affordable homes. With the city’s vacancy rate at a low 1.4%, rent prices are skyrocketing, forcing families out of their homes. Mayor Eric Adams, alongside state officials, has taken proactive steps to tackle this crisis head-on. Now, it’s up to the City Council to join forces and pass this landmark proposal,

October 3, 2024 No Comments