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U.K. house-price growth slowed to a five-month low in November, according to Nationwide Building Society, which also noted a shortage of properties for sale.
Shanghai plans to sell 6.96 billion yuan ($1.09 billion) of bonds backed by local government-managed funds that provide mortgages as China seeks to boost home sales and clear a nationwide property oversupply.
Philippine builders like SM Prime Holdings Inc. and Ayala Land Inc. can’t add retail space fast enough to satisfy demand from Southeast Asia’s most-confident consumers that pack Manila’s malls.
Airbnb Inc. is seeking to increase its number of short-stay listings in Japan, its fastest-growing market.
Home prices in Beijing and Shanghai, which have surged this year, have room to rise further as the inflow of residents bolsters demand in China’s biggest cities, said the head of real estate investments at Singapore’s sovereign wealth fund.
Chancellor of the Exchequer George Osborne will increase the stamp-duty rate for purchases of buy-to-let and second homes to reduce competition for first-time property buyers. Shares of small banks that provide loans to landlords declined.
Purchases of new U.S. homes rebounded in October from a 14-month low and order backlogs reached an eight-year high, indicating a pickup in residential construction.
U.S. home prices rose 5.7 percent in the third quarter from a year earlier as buyers competed for a tight supply of properties on the market.
Deutsche Wohnen AG, which is fighting an unsolicited bid by a bigger competitor, agreed to buy about 14,000 homes from Patrizia Immobilien AG for around 1 billion euros ($1.1 billion), a person with knowledge of the deal said.