Real Estate

July marks sixth straight month of rise in existing home sales in Canada, CREA says

TORONTO —The month of July saw the highest rise thus far since March 2010 of sales of existing in Canada, the Canadian Real Estate Association (CREA), the hub for real estate agents, said on Friday. The escalation marked the sixth straight monthly increase, coming out of a winter characterized by sluggish sales. According to CREA, …

Asian shares mostly lower ahead of central bank meetings, worries on Ukraine conflict continue

TOKYO—Asian stocks were mostly slightly lower in Thursday morning trading, as markets watched for action of the central banks in the U.S., Japan and Europe and worries about the escalating conflict in Ukraine continued to weigh on shares. The signs have been conflicting as the Dow managed to barely end in positive territory overnight. There …

PH mng sector grows faster than global average

MANILA — The country’s manufacturing sector has outpaced global expectations during the last three years, according to a data from the National Industrial Development Organization. Federation of Philippine Industries (FPI) director Roberto Batungbacal, citing the same data, said that the country’s manufacturing sector, grew faster than the average growth rate of the Association of Southeast Asian …

Slower global growth gives BSP more room for key rates adjustment

MANILA — A slower global growth may mean more policy settings’ adjustment space for the Bangko Sentral ng Pilipinas. BSP Governor Amando M. Tetangco told reporters that the foreseen slowdown in global growth may “help keep global inflation in check” as well as  it could “lead to a more sustainable growth in the medium to …

May home sales up from April and year ago, Canadian Real Estate Association says

OTTAWA — The Canadian Real Estate Association says home sales for May were up compared with April and a year ago. The association says home sales though its Multiple Listing Service system were 5.9 per cent higher compared with April and 4.8 per cent higher compared with a year ago. The national average price for …

Many seek new homes near cities but are priced out

WASHINGTON — City living has been a blessing for Tim Nelson. The Phoenix lawyer moved downtown a few months ago into a new $389,000 home with a warehouse-style floor plan, a Jacuzzi tub and kitchen counters made of Caesarstone quartz. His favorite coffee spot is three blocks away. When the Arizona Diamondbacks play on Friday …

Clark can be the next ‘Fort Bonifacio for BPOs’

MANILA — As more property developers and investors target areas outside Manila, a property consultant said Clark can be the country’s next business process outsourcing (BPO) hub. CBRE Philippines chairman and chief executive Rick Santos said Clark is drawing more BPO firms because of the “young, intelligent, and multilingual” labor pool in Central Luzon. When …

Home affordability becoming more of a stretch, and like to get worse, says RBC

OTTAWA — It’s becoming increasingly difficult for families to own a home in Canada and affordability is only expected to get worse going forward, according to the Royal Bank of Canada (TSX:RY). With house prices continuing to rise, RBC said its affordability index deteriorated in the first quarter of this year– the third quarter that …

Investor’s Group mortgage deal comes with strings attached

If you’ve been shopping around for a mortgage, you’ve probably heard about Investor’s Group’s offering of a variable-rate mortgage for 1.99% for a three-year term. This seems amazingly good. But is it too good to be true? Here’s the lowdown on those down-low mortgage rates. It’s important to understand the mortgage lending business is intensely competitive, because for …

April home sales up from March, but down from year ago, CREA says

OTTAWA—Canadian home sales were up 2.7 per cent from March to April, boosted by the Vancouver and Toronto markets, according to the Canadian Real Estate Association. However, sales through the Multiple Listings Service were down 0.3 per cent compared with a year ago and one per cent below the 10-year average. The association says the …

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