While New York City has long had a reputation for good real estate investment, several other cities are also now following close behind.
London, Singapore and Hong Kong are becoming hot spots for real estate investment.
Around the world, there has been an emphasis on luxury real estate, which is seen as a sound investment. Prices on luxury apartments in these cities have gone up astronomically, making competition fierce.
Image via Flickr/Aurelien Guichard
Hilton Hotels recently confirmed that they experienced a series of credit card security breaches last year and earlier this spring.
These breaches occurred at several hotel restaurants, gift shops and other stores.
The hotel group launched an official investigation of these security breaches in September after financial institutions discovered credit information stolen from Hilton properties.
Image via Flickr/Prayitno
Chinese money is becoming a major force in real estate around the world, despite the country’s current situation.
China has recently experienced a currency devaluation and a stock market crash. This has left many looking to invest in places other than their own country.
In the U.S., Chinese buyers began buying luxury condos in Manhattan and mansions in Silicon Valley, but they are now moving inward from the coasts.
Image via Flickr/Michael Coghlan
The police recently arrested five suspects for stealing personal information from gas pumps, prompting an official investigation of credit card skimmers.
“It’s crazy,” said Craig VanBuren, director of the Consumer Protection Section at Michigan’s Department of Agriculture. “What we’re finding since August has just really blown our mind.”
Skimmers, devices which allow thieves to record credit or debit information, are being found in both large and small towns.
Image via Flickr/Mike Mozart
In New York City, one of the biggest trends right now are luxury entry doors. These doors help to personalize an apartment and create a grander entrance.
“It’s not just the front door — it’s the entrance to the apartment,” Ian Bruce Eichner, CEO of the Continuum Company. “And it’s the message you get when you walk off the elevator and look at it.”
Buildings are also going beyond the door and putting more effort and money into creating dramatic entry spaces.
Image via Flickr/Sandra Cohen-Rose and Colin Rose
Despite the higher interest rates of the past five months, buyers are still taking out home loans at an increasing rate.
According to a survey by the Mortgage Bankers Association, mortgage applications increased 6.2 percent last week, up from the week before.
“This was despite the fact that mortgage rates reached their highest level since July,” said Michael Fratantoni, the association’s chief economist.
Image via Flickr/Rental Realities
Warren Buffett recently bought Allie Beth Allman & Associates, a real estate firm in Dallas which specializes in luxury properties.
“Allie Beth Allman & Associates is a strong company with an exceptional reputation in a growth market,” said Ron Peltier, chairman and CEO of HomeServices of America Inc., an affiliate of Buffett’s firm Berkshire Hathaway. “This transaction aligns with our vision of acquiring distinguished companies in leading markets that share our core values.”
Found in 2003, Allie Beth Allman & Associates had $1.5 billion in sales last year.
Image via Flickr/Fortune Live Media
A new survey from Realtor.com reveals three hot new real estate trends: inviting, rustic and beachside charm. These trends are based on people’s preferences and what they want in a house.
Inviting spaces offer an open atmosphere with lots of seating and a huge kitchen for guests to gather in.
Rustic spaces incorporate natural elements in the home, such as wood, stone, water and light.
Beachside charm homes offer a relaxed atmosphere with sundecks and terracotta tile – no beach required!
Image via Flickr/Sherwood CC
The future of real estate could be in virtual reality. The trend is picking up in bigger cities and has now reached Tampa.
Previously used for video games, real estate is getting the same treatment, making it easier for home buyers to search and tour houses from the comfort of their own home.
“I think it helps you a lot, because from the comfort of your home you can go throughout the entire house without ever actually wasting your time and your realtor’s time to physically go there,”said house hunter Holly Hostler.
Image via Flickr/William Mewes
Morgan Stanley is making a recovery in real estate, after a devastating downturn.
The New York Investment firm raised $1.7 billion for its first higher-risk real estate fund since 2007. Investors include CIC and Australia’s sovereign-wealth fund.
Commercial real-estate values are hitting record levels. Deal activity is also up.
Image via Flickr/Insider Monkey