FT reports that in Germany, house prices rose more than 60 percent in the past seven years. However, the German property market has stalled since the European Central Bank started raising interest rates last summer to tackle inflation. According to … Continue reading →
Canada’s Prohibition on the Purchase of Residential Property by Non-Canadians Act (S.C. 2022, c. 10, s. 235) (“the Act”) came into force on January 1, 2023. The Act is intended as a response to rising housing prices. According to RBS, … Continue reading →
Lexology reports that on Jan. 21, 2023, the Arlington County Board amended the Arlington County Zoning Ordinance to allow a set of new uses. The amendment is part of Arlington’s Commercial Market Resiliency Initiative, which the county describes as “[a] … Continue reading →
There is growing concern surrounding Chinese ownership of U.S. farmland. This concern is fueled in part by the current political climate. At least 11 states are considering some form of new legislation related to foreign ownership of farmland or real … Continue reading →
In September 2021, Amazon Data Services, Inc. (a wholly-owned subsidiary of Amazon.com, Inc.) acquired a 41.7-acre parcel for $39.7 million (~$952k per acre). According to Dgtl Infra, Amazon intends to construct a one-story, 220,000sf data center on the parcel, which … Continue reading →
Last November, about 58 percent of Los Angeles voters voted yes on Proposition ULA, according to Ballotpedia. The resulting “ULA Tax” (also known as the United to House L.A. and the Homelessness and Housing Solutions Tax) takes effect on April … Continue reading →
The Financial Crimes Enforcement Network (FinCEN) has issued an alert to financial institutions regarding potential investments in the U.S. commercial real estate (CRE) sector by sanctioned Russian individuals and entities. Because of the highly complex financing methods and opaque ownership … Continue reading →
A law passed in 2019 (Va. Code § 58.1-4100 et. seq.) allows for up to five brick-and-mortar casinos in Virginia. In November 2020, voters approved casinos in Bristol (Hard Rock), Danville (Caesars), Norfolk (Pamunkey) and Portsmouth (Rivers), according to 500 … Continue reading →
Brazil and Argentina have expressed a desire to advance discussions on a common South American currency to be used for financial and trade flows, according to Reuters. The currency would not circulate within Brazil or Argentina but rather would be … Continue reading →
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 →