Increase in rent vacancy in Japan

Japan is one of the improving country that we have in this world today,this improvement in terms of economy and what comes with improvement in the economy is the thing that most of us usually know the increase in prices , it does not matter whether it is clothing, food, shelter or even the rate of services done by people like the Japanese comfort women,  Japanese masseur or Japanese hair stylist. So with almost everything increasing, there would surely be one factor that would increase and that’s the real estate properties, whether it is buying them or just simply renting them.

In fact in Tokyo, Japan office rents are continuously going up which makes people give up the office spot due to the high retainage value, report gathered from CBRE shows that there was increase in the vacancy rents within Tokyo. The rates increases for almost 1.5 percent per month and just last month which was February 2015 the rate increases to 5.3 percent. This increase in office vacancy does not only happen in Tokyo but also in Osaka, Japan. Also based on CBRE there was an increase in office rent vacancy in the said city by 7.8%. Another city in Japan that has been affected with the increase in office spot vacancy was Nagoya, it may have the lowest percent of vacancy of 2.8% but there is still the fact that there was an increase ion office spot vacancy. Not only that these increasing in vacancy happens to office spot but it also happens to building rents within Japan.

japan offices

japan offices

 

price up!

price up!

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Joan Rivers’ condo now for sale at $28 million

We all know the late Joan Rivers, an actor, a commedian, a musician. In fact she was part of the cast of some tv shows and movies some examples are: Fashion Police, Shrek 2, How’d you get so rich, The Smurf and many more. Just recently her lavish condo and the place where she lived in for 25 years was listed for sale Monday for $28 million. The 11-room penthouse occupies three floors of a limestone mansion in New York City’s Upper East Side neighborhood. It was later converted into condos in the 1930s.

Soon after she acquired it in 1990, Rivers restored the unique Louis-XIV-inspired décor of the property’s two large entertainment spaces which she made an ornate gilded ballroom and music room. The spaces are so large that the home is capable of hosting grand social events for up to 125 people, according to Corcoran, which is listing the property. Those gilded rooms, which served as the ballroom and reception hall in the original mansion, are like nothing else available in the city, said by the agent representing the property for Corcoran.

He also said that “These gigantic mansions, a lot of them were torn down and now high rises are where they stood,”The palatial property also includes a more intimate wood-paneled library and dining room, four bedrooms, 4.5 baths, two kitchens and five fireplaces. Rivers listed the opulent 5,100-square-foot property several times before her death on Sept. Nothing else really measured up.” With this kind of a property it is expected that it would be sold faster than other and the price will not really matter at all.

 

Joan River's condo

Joan River’s condo

Image by: Inman

The rise of “The Standford Residence” in the Philippines

One of the most important things that people wanted is to live in a good and luxury life. Where they have ll they can have which are usually comfort convenience and security. This luxury life can now be attained simplier than ever with a help from modern technology the The Stratford Residences is nearing to its opening, this condomium reaches 74st floor, making the tallest residential tower in the Philippines a step closer to its completion. Once finished, the 74-story tower will upgrade the way Makati condo dwellers live their lives this condominuim guarantees the owners or even tenants an environment where comfort, convenience and security is present.

The Standford Residence is not just another condominium with a partnership with Cisco Systems a global leader in network service design and manufacturing The Stratford Residences scales aims to introduce new types of technologies that would only seen in this condominium and dozen of value-added services which residents can use. With this hype in technology and inovation residents may think that it may be one of the targets of burglars, Standford Residence already had a stand for that and assures the residents that they will have one of the best security that a condo unit will ever had

Some of the features that this condo unit will have are virtual concierge, virtual attendant, intelligent building systems, triple play, digital signage, smart kiosks, smart card and hands-free shopping which are all designed to enhance living experiences with state-of-the-art technology.

With these innovations, it is an assurance that The Stratford Residences which will be built at Picar Place a high-end lifestyle destination in Kalayaan Avenue, Makati City is primed to redefine luxurious urban lifestyle with the power of modern technology.

 

Victoria State Australia, Chinese buyer’s next target

Victoria is one of Australia’s smallest state, however, that does not matter at all because it is in this state where there is a high demand in real estate property from chinese buyers. On the eve of Chinese New Year, a certain website states that Victoria was the most clicked state among Chinese buyers in 2014. The Chinese-friendly site was built and designed by REA Group to showcase Australian property to Chinese buyers, has put the eastern Melbourne suburb of Glen Waverley at the top of the list for most searched neighbourhoods in Australia.

A spokesman from the REA Group, the company behind a real estate websitein Australia, said the success of myfun.com could be attributed to its unique features — such as map-based searches and neighbourhood profiles translated into Mandarin.
Queensland was the next most-popular state, with three suburbs namely Southport, Carindale and Toowong eaturing in the top ten most-searched suburbs according to the research and urprisingly New South Wales only had one suburb in the hot list, with Chatswood rounding out the top ten.

So what is really the reason why Chinese buyers wanted to buy properties in Victoria? research has it that the state is particularly attractive to Chinese buyers for their well-renowned schools.It is said that there are two of Victoria’s best state schools in Glen Waverley Secondary College and Mt Waverley Secondary College, along with two of Melbourne’s best private schools. It’s also halfway between the city and the hills, but retains a cosmopolitan atmosphere with over 100 cafes and restaurants in the area.

Victoria State, Australia

Victoria State, Australia

Image by Visitvictoria

Millionaires and Billionaires feast on the Real estate properties sold in NYC

The recent multimillion-dollar sale of a commercial space in the Meatpacking District is the latest in a trend of booming office and retail transactions in NYC that shows no sign of slowing soon. Financial services group TIAA-CREF closed a contract last month to purchase a number of houses in Washington St. an approximate amount of $200 million. The future of the 63,000-square-foot space is uncertain, but it will likely house new stores and startups that are clamoring for a spot in these buildings. A report released last week by real estate company in New York said about 5,200 commercial properties were traded in the city last year and it was 2,000 more than in 2013, the sales were the highest since 2007. Another real estate firm made a play for the 22,000-square-foot property in the Meatpacking District last month. It paid close to $70 million for the two-story building which features a ground floor with 8,000 square feet of shopping. 80 West End Ave. This West Side building was the site of back-to-back multimillion dollar sales in 2013 and 2014. The property, which houses offices for the Metropolitan Opera, RCN and United Cerebral Palsy of New York City originally sold for $83 million two years ago to Kushner Companies, according to the real estate firm’s website. In July, it sold the nearly century-old building to Frank Ring for $195 million. Indeed, the commercial space in MeatPacking district in NYC may be booming, however, the prices of these properties are so expensive that a regular person cannot easily buy them; it doesnt matter if the person is a bank employee, a US comfort women, an owner of a store and even if he/she is an engineer, the only ones that have a chance in buying them are the millionaires and billionaires, and thats what they are doing right now.

 

New York City

New York City

Turn over agreement

considered sold

IMAGE BY: Elitedaily

Predictions for Real Estate in the US in 2015

Real Estate

Real Estate

In 2014, more and more houses became less affordable for homebuyers. This was most likely the reason for the decline in sales. Because of the prices increasing, first time homebuyers were not able to buy the properties they wanted. First time homebuyers just stuck with their rent and let the sales of properties go into the hands of the wealthy, those who could actually afford it in the prices that were offered. Hopefully, in 2015 the situations will be more different. Here are a few predictions with what may happen in real estate this year:

  1. There will be a lot of property that will be on sale. Homebuilders are likely to respond to improvements of household formations and more homeowners will more likely sell their homes.
  2. Mortgage rates may rise, which may or may not be good news for homeowners and potential homeowners. But based on rational economics there is a chance that it will, but no one actually knows what may happen until whatever it is actually happens, right?
  3. Prices of homes will go down. Some may already be decreasing because most real estate properties that are way too expensive will not sell unless the wealthy are interested in the location and the property, but other than that the seller is out of luck. Also, the cause of real estate decreasing could be the possibility of more properties going on sale. If more properties go on sale, there is more competition and prices may decrease. Do not hope for crazy decreases on price though!

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Huge Retailer Calls it Quits, Leaves Landlords with Vacant Real Estate

Target Logo

Target Logo

U.S. retailer Target has been losing a lot of profit in their retail stores in Canada. Because of this, the retailer has made a decision to shut down their stores in Canada before they lose even more profit. With Target closing down their stores, numerous landlords are left with vacant real estate. Target is making sure that they are getting rid of their stores as efficiently as possible, although some retailers already have their eyes on these potential vacant real estate properties. The question is, would there be one single buyer for all vacant real estate properties or several buyers? A lot of people are looking at Walmart and Loblaw to purchase these properties that are being vacated by Target, but according to a real estate analyst, it is highly unlikely for just one company to buy all the 133 real estate properties or even just Walmart and Loblaw. It is highly likely though for Walmart and Loblaw to purchase majority if these vacant real estate properties. If Walmart and Loblaw do not purchase all of these vacant properties that Target is leaving behind, other U.S. retailers might see an opportunity to open up in Canada, like Dick’s or Kohls. Although this event may seem like such disappointing news for landlords in Canada, it may actually be seen as an opportunity for these landlords. Most of these landlords could raise higher rent for most of the vacant real estate to the eager potential leasers of these properties compared to the $5 per square foot they were charging Target.

Image by Google

Open House Gone Wrong

Open House

Open House

Open houses are set by real estate agents in order for potential buyers to see the property and hopefully entice them into getting the property as their future investment and home. In order to fully entice the buyers, the sellers of these properties usually leave the properties fully furnished in order for the potential buyers to see the what the property has to offer. Unfortunately, some mishaps can happen during open houses with fully furnished homes. It is not a mystery to the public about what can be found in these open houses when there are a lot of shows involving the sales of real estate properties, especially luxurious homes. Most open houses receive positive feedback and potential buyers, but some unfortunately do not. A woman from Maryland caught on about these luxurious open houses being held when she searched the internet and came up with the idea to check them out and scope the places out. You would think that this woman would be checking these houses to potentially buy them, but she had other things planned. She even went as far as introducing herself as a real estate agent to the person holding the open house and said that she was checking out the places for her clients. Meanwhile, while checking the places out this woman was stealing jewelry and an irreplaceable heirloom. Eventually, people caught on and had the woman arrested. The woman is now serving time in jail for a year and probation for 5 years. With these type of news, it’s important for people to be aware and be careful about their personal belongings.

Image by Boston

Declining Sales in Second Hand Apartments in Japan

Tokyo, Japan

Tokyo, Japan

In Tokyo, Japan, there has been a decline on sales of second-hand apartments. Every month in the year of 2014, it has been recorded to continuously decline in sales. The reason for this may be the continuous increase in the prices of these apartments. The Japanese are looking to invest on these apartments in order to reduce inheritance taxes, which is why it has been such a high demand within the wealthy, leaving behind those who cannot afford much. With the wealthy looking to reduce their inheritance taxes, the middle class is being left behind with these ridiculously high prices and leaving them unable to purchase a property for themselves. With this the sales of second-hand apartments are decreasing, while the rent of apartments is remaining the same. The Japanese who do not have great high paying jobs are left to work another job just to create enough income to save up for these high price apartments. Some may even resort into becoming Japanese comfort women. But with continuous increasing prices, how will one ever have enough money to purchase their property while all the wealthy are just living luxurious and not minding whether property prices continually increase as long as their inheritance taxes are reduced? This is the reason why most might resort into getting a part time job that might have never been part of their plan before but are willing to do whatever it takes to purchase a property that they can call their own. Hopefully, with the sales decreasing, the prices will start to decrease.

Tokyo Apartments

Tokyo Apartments

Image by Yahoo

Image by Tokyoprices

Real estate competition in the Philippines

Nowadays, to be the best, you must compete with the best and make a name for yourself, that is what is happening in almost every business present today. One of the most common competitive business that are competing are companies of real estate builders. As we all know, in the Philippines, there are many condominiums, apartments, hotels and other more real estates that are currently being built in almost every business district. So, here are some of the companies that are competing for every real estate project that they can have;

First is Ayala Land Inc.; this company have been one of the leading real estate builder company in the Philippines for years now, in fact for the past two years the company have earned an approximately 100 billion pesos with the building of real estates and it does not matter if it is a residential real estate or a commercialized real estate. A competitor of Ayala Land Inc is SM land Inc. this company on the other hand have been the constructor of almost all SM malls around the country, which includes the biggest mall in Asia the SM mall of Asia. Another competitor when it comes to real estate building is Mega World Corporation. These corporation have built a numerous amount of 40000 condos from years 2001-2011 and still continuing in building them. Some of the well known project that this corporation had done was the transformation of the Libis Quezon City into a Business district. There are still also competitors like Robinson’s Land Corporation, Rockwell Land Inc, Federal Land Inc, Eton Properties Philippines and many more that are all competing in building real estate properties.

competition

competition

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