U.K. Chancellor of the Exchequer George Osborne said officials must keep a “close eye” on house-price increases, while cautioning that the surge in London isn’t being replicated in other parts of the country.
Emirates Reit, the United Arab Emirates’ first real-estate investment trust, raised the size of its share sale to $175 million to accommodate investor demand for Dubai’s first equity issuance in at least five years.
Cheryl Coyne shouted “No more homes for millionaires!” with protesters dressed as pirates outside London City Hall this week. Inside, Mayor Boris Johnson was approving a plan by Hong Kong’s Hutchison Whampoa Ltd. to build as many as 3,500 homes close to where she lives.
Hong Kong’s property market, which more than doubled in prices since 2009, is no longer “overheated,” reducing the need for a plan to reserve homes for local residents, Chief Executive Leung Chun-ying said.
Manhattan apartment sales surged in the busiest start to a year since 2007, setting price records as buyers vied for a limited supply of homes for sale and deals were completed at new high-end developments.
Hutchison Whampoa Ltd., controlled by Asia’s richest man Li Ka-shing, won preliminary approval to build as many as 3,500 homes less than two miles (3.2 kilometers) from London’s Canary Wharf financial district.