Category Archives: Real Estate

housing

Australian housing market set for correction and possible bust, new report warns

Australia’s housing market is hurtling headlong into a correction which could burst the property bubble.카지노사이트

That’s according to a new report from the International Monetary Fund (IMF), released earlier this month.

The research found that Australia has one of the most “misaligned” housing markets in the world, and is among the most unaffordable.

This year, Australian housing prices rose 50 per cent above what the median household can afford, according to the report, as real wages declined because of inflation.

Now the average family is spending 40 per cent of what they make to keep a roof over their heads.

The IMF warned that developed housing markets around the world, including in Australia, could be headed for a correction after the unprecedented gains of 2021, with signs already on the way of values declining.

This could bring the possibility of a “bust”, where the housing market might crash.

“While episodes of housing price corrections played out historically in many different shapes and degrees of severity, the more pronounced episodes — ‘housing busts’— have been associated with severe economic recessions in most cases,” the report stated, noting that the world was in danger of one such economic recession.

If such a thing were to happen, this would have “severe repercussions” on the average person because typically “the main source” of people’s wealth and debts lie with their property, as it could see prices plunge 30 per cent.

Australia and Japan were named and shamed in the Asia-Pacific region as having the two worst “overburden rates” — where the share of the population spending more than 40 per cent of its income on housing was higher than the OECD average.

Australia’s housing market was also specifically shamed alongside New Zealand, Canada and Hong Kong as being the most “misaligned” in the world where the ratio of income to house prices and rent was skewed.

The IMF also stated that Australia was the most misaligned in the Asia-Pacific region, with New Zealand a close second.바카라사이트

“Our model-based analysis shows that a high magnitude of price misalignment, when combined with the impacts of high policy rates, can lead to a sizeable price correction, nearly comparable to past episodes of housing busts,” the paper warned.

At another point in the report, it pointed to past research which found that housing prices fell by nearly 30 per cent in a bust when the bubble burst.

In 2021, New Zealand enjoyed the largest property gains, at 35 per cent nationally.

As a result, its central bank has brought up the cash rate by 400 percentage points since September last year in what many say is a warning sign for the rest of the world.

For the last two quarters, New Zealand house prices have recorded a significant drop.

Similarly, Australia’s market rose 25 per cent during the “acute phase” of the pandemic last year and since then has been on the decline, especially amid eight back to back interest rate rises.

NAB predicted that Australian house prices will suffer an overall drop of nearly 23 per cent in 2023.온라인카지노

real

Utility-Based NFTS: Solving Real-World Problems in Real Estate

In early February of this year, Leslie Alessandra sold a home in Gulfport, Florida for $654,310. That sale made real estate history as the first home sold as an NFT (Non-Fungible Token) on a blockchain in the United States.카지노사이트

The home and other properties that have since been sold as NFTs and paid for in cryptocurrency all herald a sea change coming to the real estate industry. Like other assets that have been tokenized as NFTs on the blockchain—art, season tickets, carbon credits and more—real estate NFTs are gaining traction because they solve real-world challenges like process efficiency and transparency of ownership confirmation.

Streamlining Property Transactions Using NFTs

Selling a home traditionally is a long, cumbersome and expensive process. From the initial listing of a home to the final close, offline real estate transactions can take weeks or months. Soliciting and negotiating offers, confirming title and ownership and completing the required contracts and paperwork all add extra time and cost.

Tokenizing a home as an NFT confers powerful advantages for both businesses and consumers, including clear digital ownership that is irrefutably and permanently embedded on a blockchain for all to see. Interested buyers should be able to quickly and easily view prior owners, tax records, pricing history and any legal disputes involving the property. For real estate agencies and property management companies, an NFT can also be more easily and widely marketed. In the case of Alessandra’s Gulfport home, the auction drew nearly 3,000 bidders.

Additionally, real estate NFTs help streamline or replace slow and expensive third-party processes like title insurance and escrow. And as with other NFTs, the actual transfer of the property and funds can be completed securely and near instantaneously, absent all the paperwork and back and forth nature of the traditional closing process.

Real estate NFTs also present intriguing opportunities beyond traditional one-to-one residential sales. For example, the NFT could represent the homeowner’s contractual obligation to pay a title or HOA fee/contract. Ownership through an NFT could even make for simpler and faster borrowing against a home by sidestepping much of the extensive due diligence and paperwork required by traditional financial institutions for a mortgage or line of credit.바카라사이트

Real Estate NFTs on the XRP Ledger

The world of real estate can be complex, and anyone who has bought, sold and/or rented a home knows that it can be an extremely tedious process, especially for those of us that aren’t well-versed in the jargon and other ins-and-outs of the industry.

In an effort to simplify the home buying, selling and renting experience, Ripple partner ProprHome will leverage the XPR Ledger to create and distribute NFTs that will represent property ownership. The company is leveraging the speed and reliability of the XRPL to bring greater trust and efficiency to the Portuguese real estate market. ProprHome is also debuting a robust NFT and real estate literacy program to help new users understand and maximize their experience.

And because Portugal has Europe’s highest concentration of real estate agents, ProprHome will help market participants find the best ones by issuing a reputation currency that can be earned for good practices then redeemed or traded for advertising and additional exposure.

XRPL: Purpose-Built for NFTs

Companies like ProprHome are turning to the XRPL as a fast, low-cost and secure public blockchain because it has proven itself ideally suited to the settlement of NFTs and other tokenized assets at scale.

NFT transactions on the XRPL close in less than five seconds, cost only a fraction of a penny and eliminate the need for complex smart contracts. The XRPL can also handle high transaction volumes, and key NFT functionalities like minting, burning and trading are pre-programmed as native features on the ledger, making it user-friendly and well-suited to benefit large real estate firms or governments.
The inherent advantages of the XRPL are enhanced by Ripple’s ongoing support for utility-based NFTs. Via our $250 million Creator Fund to foster new NFT use cases, we’re excited to see what the future holds for functional NFTs – from real estate and carbon markets, to media and entertainment, and beyond.

To learn more about NFT support on the XRP Ledger, visit XRPL.org.

Want to get started minting your own NFTs on the XRPL? Wave 3 applications are now being accepted for Ripple’s Creator Fund. Learn more and apply today.온라인카지노

araneta

JLL Philippines tapped as Strategic Real Estate Advisor by Araneta Group

The Araneta Group, renowned for pioneering and establishing ground-breaking retail, food service, entertainment, and hospitality developments, has partnered with and engaged JLL Philippines as its strategic real estate advisor for its 35-hectare property located at the heart of Quezon City, Metro Manila.카지노사이트

JLL Philippines’ services for the City of Firsts will cover exclusive office leasing, strategy and advisory services for space offerings such as the interconnected Araneta City Cyberpark, a cluster of integrated office, retail and dining spaces that is home to numerous large Information Technology & Business Process Outsourcing (IT-BPO) companies.

According to JLL’s Country Head, Joey Radovan, “JLL is delighted to partner with the Araneta Group in promoting the benefits of a transit-oriented development that addresses all the needs of corporate occupiers, residents and travelers alike. Being connected and having access to both the LRT and MRT train lines plus its strategic location along EDSA is clearly a distinct advantage for the company’s developments.”바카라사이트

Araneta City is positioned in all fronts as a leisure, entertainment, office, and residential hub in the heart of Metro Manila. It is highly accessible to all work force profiles, with all modes of public transportation supported by a robust retail, entertainment, food and beverage, and hospitality amenities within the bustling City of Firsts.

“Current residents and tenants are very satisfied with the environment we continue to develop and innovate within Araneta City, as evidenced by our continuous development of residential and office towers,” said Lorna Fabian, Vice President for Leasing of the Araneta Group.온라인카지노

blue ribbon

What is blue ribbon real estate?

Blue ribbon real estate refers to a property that is in fantastic condition, to the point that it looks brand-new. Blue ribbon real estate does not refer to brand new construction. It refers specifically to homes that have been cleaned and maintained sufficiently enough that they are as appealing as a new home.카지노사이트

Other terms similar in meaning include “mint condition” or “turn-key ready,” which both imply a home’s nearly-new condition.

Buyers may be drawn to blue ribbon homes because they don’t require many (if any) repairs or upgrades. Because they have the appearance of newness, these properties may even sell at or above the asking price (depending on market conditions). In an especially competitive market, homes in blue-ribbon condition may give sellers an edge against “comps” — homes of a similar size and age in the area.

What is blue-ribbon condition in real estate?

In real estate, blue ribbon condition refers to homes that are in such good condition as to appear brand new.

Buyers may be more likely to purchase a home in blue-ribbon condition if it doesn’t require any cosmetic changes, and may therefore be able to take possession with a shorter closing period. While blue-ribbon homes are not considered new builds, they may be easier to find in newer neighborhoods. Alternatively, homes being sold by the original owner could be more likely to be in blue-ribbon condition.

Where does the term come from?

Blue ribbons are a common symbol of quality. Many local fairs or other competitions award blue ribbons to prize winners in various categories, from livestock competitions to pie baking contests or sports and art events. Traditionally, a blue ribbon would represent the award for highest achievement or quality.바카라사이트

So in real estate, “blue ribbon” equates to a property in the highest tier of condition, short of being new construction.

What other terms are equivalent to blue-ribbon condition?

A home that is in blue-ribbon condition might also be referred to as being in mint condition, indicating it has minimal imperfections or issues, although it is not necessarily unused.

Some people might also refer to blue ribbon homes as being in “turn-key condition” or “turn-key ready.” This terminology refers to the fact that the new owners won’t have to do anything to get the home ready to live in. All they have to do is turn the key on the front door.

Move-in condition” or “move-in ready” is yet another phrase that’s synonymous with blue-ribbon condition.

How do you get a home in blue ribbon condition?

To get a home into blue ribbon condition, you might need to ensure it is up-to-date in style or design, have fresh paint and carpets and ensure no repairs are outstanding. The latest in fixtures and features such as appliances, central heating and air systems or water heaters could lend a home blue-ribbon status.

Before listing a home in this condition, take photos: They will best represent the home if the rooms are devoid of clutter and styled effectively. A good staging company can help with this, highlighting the positive attributes and making your home look more inviting. Homeowners may also need to do a deep cleaning of the home or hire professional cleaners to achieve the turn-key or blue-ribbon level of quality.

Dedicated sellers might even get a home inspector to view the home to identify potential issues. This will give them the opportunity to repair those problems before potential buyers view the home, allowing the sellers to present the home in its best possible condition to the market.온라인카지노