realestate
China's deeply indebted property giant Evergrande has been fined $576 million for fraudulent business practices, Beijing's top financial regulator said Friday. Evergrande was once China's biggest real estate firm, a powerhouse in a sector that helped propel the country's rapid economic growth during recent decades. But its spiralling debt became emblematic of a prolonged crisis in China's real estate sector. Struggling to repay creditors for years, it defaulted in 2021. China's Securities Regulatory Commission (CSRC) said Friday that, between 2019 and 2020, the firm "falsely increased its reve...
IBTimes
A proposed constitutional amendment that could see Brazil's famed beaches fall into private hands has outraged environmentalists and citizens in a country that prides itself on open access to its vast shores. Brazil has one of the world's longest coastlines, at around 7,500 kilometers (4,600 miles) and by law beaches are public assets and thus government property. They are largely pristine, without the eyesore high-rise condos and hotels common at seaside resorts in other countries. However, a proposal to change the government ownership rule has been making its way through Congress, promoted b...
IBTimes
Canadian hip-hop artist Drake is poised to spend more time in the Lone Star State after purchasing a luxurious property in Brenham, Texas. The 37-year-old artist acquired the stunning 313-acre Dos Brisas ranch in Washington County for $15 million last autumn. Located roughly two hours south of Dallas and 85 miles from Houston, the ranch has now been confirmed as his new residence. A highlight of the property is a luxurious Mediterranean-designed house spanning 14,300 square feet. Additionally, the ranch includes multiple casitas and haciendas, offering Drake potential business opportunities sh...
IBTimes
New York has always been expensive, but as housing prices continue to rise, the Big Apple is setting new records. Data indicates that rent costs increased seven times faster than earnings last year, and over half of New York's residents are paying more than 30 per cent of their before-tax earnings on housing. In other words, New Yorkers are increasingly rent-burdened. More than 30 per cent of tenants, or one in three, are spending more than half of their income on rent, exacerbating the city's homelessness crisis. Even tech professionals, who earn some of the highest salaries of any profession...
IBTimes
For a decade, Park Hyeon-su lived in a windowless micro-apartment in Seoul, working double shifts and saving every penny for a deposit on a nice home. Then real estate scammers took his money. South Korea's rental housing market features a unique system known as "jeonse" in which tenants pay huge deposits -- sometimes hundreds of thousands of dollars -- then get to live rent-free for years, before getting all their money back when they move out. The idea is that landlords get access to interest-free cash for speculation, and tenants get free housing, with the property as collateral. But the sy...
IBTimes
The last piece of privately owned land in the strategic Svalbard archipelago in the Arctic is up for grabs, a property likely to entice China but which Norway does not intend to let go without a fight. The archipelago is located halfway between mainland Norway and the North Pole, in an Arctic region that has become a geopolitical and economic hotspot as the ice melts and relations grow ever frostier between Russia and the West. For 300 million euros ($326 million), interested parties can acquire the remote Sore Fagerfjord property in southwestern Svalbard. Measuring 60 square kilometres (23 sq...
IBTimes
China cut the minimum down payment rate for first-time homebuyers on Friday and suggested the government could buy up commercial real estate, in some of Beijing's most ambitious moves yet to lift the ailing housing market out of an unprecedented debt crisis. Property and construction accounts for more than a quarter of gross domestic product, but the sector has been under unprecedented strain since 2020, when authorities tightened developers' access to credit in a bid to reduce mounting debt. Since then, major companies including China Evergrande and Country Garden have teetered, while falling...
IBTimes
A married Chinese woman in her early thirties, residing in Changzhou with her family, attracted attention when she invested in a secondary property for recreational purposes. Three years ago, Gong Yan purchased the apartment for 500,000 Chinese yuan ($69,000) using her personal savings. Her decision was influenced by the challenges encountered during the COVID-19 pandemic in 2020. Throughout the period, Gong found herself in a 130-square-meter apartment, isolated with her son, husband, and parents-in-law, managing their needs without much time for herself. The acquisition of a 25-square-meter ...
IBTimes
23-year-old Cody Davis and his business partner, Christian Osgood, own around 180 apartments in Texas and Washington, and they used debt to create this growing $25 million real estate portfolio in four years. They now earn a gross revenue of nearly $300,000 monthly. They also bought a resort called Robinhood that overlooks the Hood Canal in Washington. The 90-year-old resort across 12 acres of land has 18 cottages, a beautiful waterfront, and tons of space to host events. They hope to bring in $1 million in revenues from the resort by 2025. On UpFlip's YouTube podcast, the dynamic duo said the...
IBTimes
The former holiday home of Osama bin Laden's brother is being torn down on its Central Florida site 23 years after the family fled because of the 9/11 terror attacks. The Oakland property was purchased by Khalil bin Laden just over four decades ago for $1.6 million as a wedding gift to his wife. He was residing at the mansion with his partner and son when Al-Qaeda attacked the World Trade Center in New York City. Due to fear for their safety, Khalil and his family were airlifted out of the Florida home. From here, they departed the United States on a private jet with a police escort and headed...
IBTimes
閲覧を続けるには、ノアドット株式会社が「プライバシーポリシー」に定める「アクセスデータ」を取得することを含む「nor.利用規約」に同意する必要があります。
「これは何?」という方はこちら