After an energetic rise over the past few years, Japan’s real estate market is running out of steam. Particularly in the past few months, difficulty in completing transactions has fuelled expectations that prices will start heading south. In the capital markets, the value of Japanese real estate investment trusts (J-Reits) has plummeted in recent months, leaving many trading well below their net asset value. The negative sentiment surrounding Japan’s property sector may seem natural, given the grim outlook facing the world’s main economies. The slowdown in the US, coupled with a rapid appreciation of the yen, is hurting the country’s exporters, which have been important drivers of growth.
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A report from the Gulf Daily News says that Abaad Real Estate Company had reported a total revenue of BD2.1 million ($5.5m) in the first year of its operation. The real estate subsidiary of Bahrain Islamic Bank earned a net income of BD 1.5m, representing a return on capital of 14.7 per cent.
High milk prices are generating heat in the rural real estate market as buyers advance on dairying and dairy-support land. Cash-flush farmers with more income from a payout expected to reach $7/kg of milk solids are investing or forming syndicates to increase their holdings. They will have taken the lion’s share of the 44 grazing farms and 16 finishing blocks that were among 144 farms sold in Canterbury in the three months to February. Fifteen dairy farms were also sold. Canterbury farm prices have risen to $1.6 million from a median of $1.3m over the same period a year ago, although this has softened from $1.95m in the three months to January.
According to the Miami Herald, Noelle Knox, a national real estate reporter for USA Today, has rejoined The Associated Press to help create and lead a new real estate and home news service. The appointment was announced Wednesday by Kristin Gazlay, AP’s managing editor for financial news and global training.
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