Browsing: Real Estate

Real Estate
Hastings-on-Hudson, N.Y.: An Inclusive Community on the River

AdvertisementContinue reading the main storySupported byContinue reading the main storyLiving inHastings-on-Hudson, N.Y.: An Inclusive Community on the RiverMany of the residents in this Westchester County village are city transplants, drawn by the creative, environmentally conscious vibe.Living In … Hastings-on-Hudson, N.Y.13 PhotosView Slide Show ›Tony Cenicola/The New York TimesJan. 6, 2021, 5:00 a.m. ETOver the years, Pato Paez and his husband, Brian Harris, shared many Thanksgivings with a family member who lived in the village of Hastings-on-Hudson, perched above the Hudson River in southern Westchester County. But they never considered moving there — or even leaving the city — until their daughter was born in 2017 and the space in their Park Slope, Brooklyn, rental seemed to shrink.“Our two-bedroom apartment wasn’t working,” Mr. Paez said. “We needed more room.”

Real Estate
Condo discounts continue into Q1

The opening of the Gold Line has increased prices of condominiums in Khlong San district. (Photo by Apichart Jinakul) Discounts on condo prices should continue into the first quarter of 2021 as developers want to drain unsold inventory as much as possible, says a property website. Kamolpat Swaengkit, country manager of DDproperty.com, said many developers keep reducing unsold condo inventory to prepare for new project launches in the second half. “Developers still want to launch new condo projects to retain brand awareness,” she said. “If they have no new project launches for six months, their brands may be forgotten as others that keep launching will seize awareness.” Mrs Kamolpat said the pandemic was the key factor influencing homebuyers’ purchasing decisions. According to a survey of 1,002 respondents last year by the website, 75% delayed property transactions because of the virus outbreak. Around one-third had higher uncertainty about property prices and difficulty in securing home loans. The proportion of those planning to

Real Estate
Sales of tiny apartments soar in HK

A sofa bed is unfolded inside a Seven Victory Avenue micro-apartment show home, developed by Henderson Land Development Co Ltd in Hong Kong. (Bloomberg photo) In the world’s least affordable housing market, one in eight homes sold is a nano apartment, a term widely used to describe tiny homes in Hong Kong. A record 13% of apartments sold in 2019 were less than 260 square feet (24 square metres), or smaller than two car-parking spaces, according to a report by Liber Research Community released yesterday. These tiny units accounted for just 0.2% of total sales in 2010. Hong Kong’s sky-high property prices have made it difficult for the younger generation to get on the housing ladder. The city’s property affordability is the worst in the world, topping other housing hot spots like Vancouver, Sydney and Los Angeles. Developers in recent years have turned to offering smaller homes to buyers

Real Estate
Bangkok offices still attractive to prospective renters

Bangkok offices still attractive to prospective renters Thai capital is 15th most affordable premium office location in the world, according to JLL Bangkok is the 15th most affordable premium office location in the world, according to the latest “Premium Office Rent Tracker” from the global real estate services firm JLL. The survey of 100 office markets and sub-markets in 86 cities shows that Bangkok also ranks as the fifth most competitive premium office market in Asia-Pacific and second in Southeast Asia in the same category. The tracker provides a benchmark view by JLL of the best achievable office rents in the best buildings in the world’s top markets. The research provides a reference tool for corporate occupiers seeking to compare occupancy costs and find the best value, as well as for global investors looking to identify sources of real estate demand for premium space. According to the report, Hong Kong-Central remained the world’s most expensive premium office location at US$240 per square foot per year (equivalent to 6,500 baht per square metre per month), despite a decline in rents of more than 20% over the past year. The average occupancy cost for premium space in Bangkok was

Real Estate
The Income Required to Qualify for a Mortgage

AdvertisementContinue reading the main storySupported byContinue reading the main storyCalculatorCan You Afford to Buy a Home?Here’s what you need to earn in a year to get a mortgage for a median-priced home in the largest U.S. cities.Dec. 31, 2020Updated 1:46 p.m. ETIn this pandemic economy, homes are scarce and competition for them is fierce, meaning prices are rising even as many Americans have less money to spend. How do you know if you can afford a home in a particular city? HSH.com’s quarterly report, which breaks down the annual income required to qualify for a mortgage in the country’s 50 largest metropolitan areas, is a good starting point.Using 2020 third-quarter pricing data from the National Association of Realtors, and factoring in the industry standard 28 percent debt-to-income ratio to qualify

Real Estate
Wood-Ridge, N.J.: Not Too Close to the City, or Too Far Away

AdvertisementContinue reading the main storySupported byContinue reading the main storyLiving inWood-Ridge, N.J.: Not Too Close to the City, or Too Far AwayThis unpretentious suburb in Bergen County offers residents comfortable proximity to Manhattan and reasonably priced homes (some with skyline views).Living In … Wood-Ridge, N.J.12 PhotosView Slide Show ›Laura Moss for The New York TimesDec. 30, 2020, 5:00 a.m. ETIn Wood-Ridge, N.J., residents are accustomed to clarifying where they live. “People don’t always get what you mean when you say ‘Wood-Ridge,’” said Melanie Nicoletti, a former Brooklynite. “Ridgewood and Woodbridge” — higher profile addresses in the Garden State — “they get.”But it was the hyphenated borough in southern Bergen County where Ms. Nicoletti and her husband, Michael, now 38 and 39, landed in 2014, after feeling the sticker shock of

Real Estate
Shopping for Night Lights

AdvertisementContinue reading the main storySupported byContinue reading the main storyShopping GuideShopping for Night LightsEven if you’re not afraid of the dark, you may want one of these.With the advent of LEDs, night lights have gotten a lot more interesting. (The Lexon Mina rechargeable, portable light is $30 at MoMA Design Store.)Dec. 28, 2020, 5:00 a.m. ETIf you’ve ever stubbed your toe while stumbling to the bathroom in the middle of the night, the value of a good night light is obvious — even if you’re no longer a child.“The purpose is to bring comfort in the dark, which could be for a few reasons as you get older,” said Brigette Romanek, the founder of Romanek Design Studio in Los Angeles. “Maybe you still feel that

Real Estate
Condo supply keeps declining

New condo supply scheduled to launch in Greater Bangkok next year is expected to continue falling, with only 20,000 units projected, following a nadir in 2020. The pandemic led to the first setback in new supply in 15 years, since the skytrain and subway started running together in 2004, spurring condo growth in 2006. Phattarachai Taweewong, associate director of the research and communications department at property consultant Colliers International Thailand, said the new outbreak of Covid-19 in Thailand was a key risk factor. “The only positive factor in 2021 is vaccine development. If one is available in the second half, it will be a driving factor for economic recovery in 2022,” he said. Colliers reported a sharp decline in new condo supply launched in Greater Bangkok, down to 21,643 units in 2020 from 44,662 units last year. Combined sales value also fell by 69% to 66.5 billion baht from 216 billion. The peak year was in 2018 with 66,201 units. According to property consultant Plus Property Co, a subsidiary of Sansiri Plc, new condo supply launched in Greater Bangkok each year since 2006 exceeded 27,000 units. In 2006, supply jumped 250% to 27,550 units from less than 8,000 units