The New York Post (citing the City’s Finance Department) reports that the total value of New York City’s commercial real estate is nearly $9 billion short of its most recent high. Tax revenue from commercial real estate transactions is expected … Continue reading →
Poland’s overcrowding rate—a measure of whether homes have sufficient rooms for the number of people in the household—is 37 percent, whereas the European Union average is 17.5 percent, according to Reuters (citing Eurostat data). Rising interest rates, limited housing supply … Continue reading →
Higher interest rates, persistent inflation and weak economic growth will contribute to more maturity defaults in 2023, according to Fitch Ratings. Fitch projects its U.S. CMBS loan delinquency rate will increase to between 4.0 percent and 4.5 percent by YE … Continue reading →
Inflation in Morocco is expected to reach 6.6 percent this year, according to Reuters. The Bank Al-Maghrib (“BAM”), Morocco’s central bank, raised its benchmark interest rate today by 50 basis points to 2.5 percent in an effort to control inflation, … Continue reading →
Hyperinflation in Turkey coupled with the central bank’s decision to slash interest rates to nine percent has led to soaring property prices. Domestic demand for real estate has increased as investors seek to shelter their savings from staggering inflation. Additionally, … Continue reading →
The average amount of inventory held by the 20 biggest U.S. public apparel companies was up by 26 percent compared with the 2019 (pre-pandemic) level, according to Insider Intelligence (citing analysis from AlixPartners). On Black Friday, indoor mall foot traffic … Continue reading →
Fortune reports (citing Argentine government data) that overall paychecks increased by 78 percent in September from a year ago, whereas the annual inflation rate was 83 percent. During the same month (September 2022), 90 percent of Buenos Aires recorded a … Continue reading →
JLL reports additional office occupancy losses in Q3-2022 with 11.4 million square feet of negative net absorption, bringing the year-to-date occupancy loss to 24.7 million square feet. According to the report, a vast majority of downsizing companies are relocating into … Continue reading →
Deal flow in Australia’s commercial property market fell by 24 per cent year-over-year to $16.4 billion, according to The Australian Financial Review. Third quarter office building investments dropped by 10 percent from a year ago to $7.9 billion and in … Continue reading →
The Washington Metropolitan Area Transit Authority (WMATA) announced yesterday that rail service to Washington Dulles International Airport and Loudoun County will commence on November 15. The Silver Line Extension includes a new rail maintenance and service yard (the largest in … Continue reading →