REAL ESTATE NEWS OF THE WEEK: WE ARE ENTERING THE BEST MARKET OPPORTUNITY SINCE 2008

Welcome to your weekly Real Estate news around the globe.

Real Estate related news and updates combined into one simple article.

USA:

We are entering the best Real Estate market opportunity since 2008: Why this billionaire investor is aggressively buying income-producing properties.

If you own a home or have been interested in buying one, you are aware of the sizeable U.S. residential real estate downturn. Sales numbers are dropping to their lowest rates since 2020, but interest rates continue to rise to around 6.5%. This scenario doesn’t mean investors should look to another option viewed as less volatile. Link

Will your city favor buyers or sellers? Real Estate report makes predictions for 2023

The days of 40-person bidding wars and offers that are six figures over asking may be over, according a?recent analysis?of the 2023 real estate market.

The national median home price rose 17.6% in 2021, then another 10% in 2022. Those soaring prices over the past several years made home sellers happy, but now steep mortgage rates are slowing things down. Link

Wall Street has purchased hundreds of thousands of single-family homes since the great recession. Here's what that means for rental prices.

• Corporations backed by private equity groups such as Blackstone and Pretium Partners bought tens of thousands of homes across the U.S. Sun Belt.
• Prices for detached homes have increased faster in key Sun Belt states than the national average.
• Institutional investors do not yet control a large market share in housing, but analysts writing at MetLife Investment Management suggest they could by 2030. Link

Absentee owners are crowding the housing market, data shows.

Secondary-home and investment-property buyers are a rising share of homebuyers in many major cities, real estate data shows, and experts say the effect these deep-pocketed shoppers are having in housing markets is muscling out first-time homebuyers.Link

Europe:

Spanish political party introduces bill to scarp Golden Visa by Real Estate investment

The Spanish left-wing political party, Más País, wants to scrap the country’s Residence by Investment scheme for foreigners who invest in real estate in the country.Link

How a decade of golden visas shaped Portugal's property market.

Portugal has become the latest country to end its 'golden visa' scheme, citing rising property prices. But how was the program shaped the country over the past decade, and what will change now that it's ended? Link

UK property asking prices show the weakest February gain on record

Average asking prices for British residential property rose by just 14 pounds ($17) in February from January, the smallest rise on record for a month which normally sees a big seasonal increase, data from property website Rightmove showed on Monday. Link

Rest of the world:

In Canada, complex fraud schemes are targeting homeowners.

A Canadian couple recently learned that their home was sold by fraudsters without their consent while they were out of town. Experts say theft of this nature is rare, but there has been a notable rise of similar cases in the country's most populous city.Link

South Korea's 'Jeonse' rent-free renters hit by property downturn

?A downturn in South Korea's home prices is causing pain in the country's unusual rent-free rental system that benefited landlords and tenants alike during a long surge in residential property prices.Link

Proptech fundraising accelerates in Asia - pacific region on rising demand for decarbonization in Real Estate industry

• Venture capital funds, such as Fifth Wall, Undivided Ventures and JLL Spark, are betting on the growth of property technology in the Asia-Pacific region
• Investors expect Asian countries to follow their US and European peers in cutting carbon emissions in the real estate industry. Link