Real Estate

Canadian home sales slip lower in January, Canadian Real Estate Association says

OTTAWA — Home sales slipped lower in January for the second month in a row, with a slowdown in Calgary and Edmonton responsible for much of the decline. The Canadian Real Estate Association says sales through its multiple listing service in January were down 2.0 per cent compared with a year ago. Compared with December, …

Real estate group pushes for land conversion to address housing backlog

MANILA — The Chamber of Real Estate and Builders’ Associations, Inc. (CREBA) has stressed its support to the National Land Use Act (NLUA) provided that the bill allows conversion of some land for agricultural production to housing projects to address housing backlog. CREBA National Chair Charlie V. Gorayeb said the housing sector does not threatened …

QC OK’s tax relief for delinquent real property owners

MANILA  — The Quezon City government is now offering a tax relief for delinquent real property owners to pay to the city government an amount equivalent to the last five years of delinquency. Mayor Herbert Bautista has signed Ordinance No. SP 2363 S-2014, authored by Councilor Victor V. Ferrer, Jr. of District 1, to grant …

First homes owned through mortgage loans may soon be interest-free

MANILA — Filipino families who buy or construct their first home through mortgage loans may soon not need to pay loan interest. Rep. Roy M. Loyola (5th District, Cavite) said by removing the interest rates on mortgage loans, potential homeowners will only have to pay the principal amount of their housing property, and thus avoid …

Wind turbines have little impact on property values, study concludes

TORONTO — Wind turbines generally have little effect on the value of nearby properties with possibly isolated exceptions, a recent study of thousands of home and farm sales has found. The surprising findings, published in the Canadian Journal of Agricultural Economics, come amid an already fiery debate over wind farm impacts and appear to contradict …

Amendment to banks’ credit, risk-taking rules not to result in excessive property price hikes

MANILA — Affordability of housing units in the Philippines is not expected to rise vis-à-vis the amendments on banks’ credit-risk taking. Philippine Savings Bank (PSBank) President Vicente R. Cuna, Jr. said the amendments, which includes the decrease of the maximum loan value of real estate being used as loan collateral from 80 percent to 60 percent, …

Urban Living leads 2015 Canadian real estate trends – PwC report

According to the latest PricewaterhouseCoopers (PwC) and Urban Land Institute joint report released last Tuesday, homeowners’ preference of convenient city life over more generous suburban life are driving Canada’s real estate markets. Based on an annual outlook on real estate trends, moving downtown has emerged in the past years and will continue to do so …

Canada Mortgage and Housing Corp. expects steady housing market in 2015

OTTAWA — The Canada Mortgage and Housing Corp. says it expects housing starts in 2015 to be about the same as they were this year, and in line with economic and demographic trends. The national housing agency says “some moderation is expected” in 2016. The CMHC says that on an annual basis, it expects housing …

Hotel chains, set to expand in PH market by 2017

Travellers International Hotel Group is expanding its reach in Asia, and is poised to open two new luxury hotels – a 355-room Hilton and 390-room Sheraton – at Resorts World Manila (RWM) in Newport City. Target date of completion is sometime in the fourth quarter of 2017. The Westin hotel chain is likewise eyeing the …

Ayala Land P80-billion business and lifestyle district, on the rise in Taguig

Real estate development giant, Ayala Land Inc. (ALI) has sunkP80-billion into Arca South, a brand new central business district rising on the 74-hectare land of what was formerly the Food Terminal Incorporated (FTI). Located by SLEX and C-5, a mere 4.7 kilometers from the Ninoy Aquino International Airport, the development is tied with the public …