Real estate industry
The Indian government has extended the interest subvention scheme on home loans up to Rs 1 million (US$21,701) by a year, aiming to boost demand for low-cost housing. Finance Minister Pranab Mukherjee announced the extension in the Budget speech, stating that the scheme will continue until March 2011.
Real estate industry
The Indian government has proposed to bring all commercial renting under the service tax, as announced by Finance Minister Pranab Mukherjee in the Union Budget 2010-11. This move aims to tax the rent collected from commercial tenants, with the owners being required to pay service tax on the collected amount.
Real estate industry
South Korean banks, led by top lenders Kookmin Bank and Industrial Bank of Korea, have rapidly reduced mortgage rates in a bid to alleviate the financial burden on households. This move comes as the banks face mounting criticism for maintaining high spreads on mortgage loan rates despite reduced funding costs
Real estate industry
The Scottish Government has celebrated the completion of the Forthquarter development, a 150-unit mixed-tenure housing project that forms part of the regeneration of North Edinburgh. The GBP18 million scheme, comprising 90 flats for social rent and 60 apartments sold on a shared equity basis, was made possible through a collaborative
Real estate industry
California home sales increased 4.7% in November compared with the same period a year ago, while the median price of an existing home rose 5.8%, according to data from the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.). The surge in sales is attributed to first-time buyers taking advantage
Real estate industry
A surge in home sales and a boost in demand has marked the Las Vegas housing market, with existing home sales increasing by 50.8 percent in November to 3,952, according to data from SalesTraq. The median resale price of $125,000 is down 27.5 percent from the
Real estate industry
Securitization and unitization of the real estate market are emerging as viable alternatives to promote mortgage financing in Nigeria. Despite efforts by the government to establish a vibrant mortgage market and primary mortgage institutions, the sector has yielded little results. Industry experts believe that a deliberate mass participation by the
Real estate industry
Scotland's SNP government is proposing to create a massive national quango, the National Housing Trust (NHT), to buy unsold new homes and rent them to middle or low-income families. The plan, backed by Communities Minister Alex Neil, aims to address housing needs and help housebuilders through the recession.
Real estate industry
The Consumer Price Index (CPI) for October rose by 0.3%, higher than the expected 0.2%, driven primarily by increases in energy costs and car prices. The core consumer price index, which strips out food and energy prices, rose 0.2%, also higher than the 0.1% expected. The
Real estate industry
Knox County Commission members expressed dissatisfaction with the proposed supportive housing complex for the homeless on DeBusk Lane, citing concerns over the project's location and cost. The commission voted 15-4 to reject the proposal, with members criticizing the process used to select the property and the potential price
Real estate industry
Copper futures suffered a significant decline on Thursday as a combination of factors, including a build in inventory and weaker-than-expected housing data, triggered sell orders and technical selling. The December copper contract lost 9.85 cents, or more than 3.5%, to settle at $2.7095 per pound on the
Real estate industry
The National Association of Home Builders (NAHB) hosted a Residential Real Estate Appraisal Summit with regulatory agencies and industry stakeholders to discuss solutions to appraisal problems. The summit highlighted the use of foreclosed properties as comparables, unintended consequences of the Home Valuation Code of Conduct (HVCC), and the need for
