Fitch Ratings has last month reported strong financial ratings for the city of Charlotte, North Carolina. In its report, the global credit ratings and research leader pointed to the city’s sound resident income metrics and its position as a major transportation, banking and commercial center for the southeast US.
[Image: Charlotte NC, on the map and charting upwards]
In its 30 March press release, Fitch stated that it expects “Charlotte's position as a regional center for trade, transportation, health care, and financial services will contribute to a general trend of economic growth and stability over time.” Drawing on a range of data, the research confirmed Charlotte’s place among the f…
Big spending AustralianSuper snaps up prime US retail property.
AustralianSuper, one of Australia’s largest superannuation funds, has just bought a $1.1 billion stake in a US shopping mall. It’s the biggest ever direct property investment and first large American property investment by the $80 billion fund.
The $1.1bn price tag gives AustralianSuper a 25% stake in Honolulu’s Ala Moana Centre from US property giant General Growth Properties. And it’s not just any shopping mall. The world’s largest open-air shopping centre, Ala Moana spans 195,000 sqm and accommodates 290 retailers and 80 restaurants.
[Image: Honolulu's central business district]
In recent years, as US commercial propert…
US property sales continued to rise in the US with February showing an increase for the fifth straight month.
A report from the National Association of Realtors said existing home sales jumped 1.2 per cent in February 2015. Sales were 4.7 per cent higher compared to February 2014, the fifth month in a row of year-on-year increase.
Total housing inventory at the end of February rose 1.6 per cent to 1.89 million existing homes, according to NAR, 0.5 per cent lower than one year ago. The combination of tight supply and rising demand pushed up house prices. The median existing-home value climbed 7.5 per cent year-on-year in February 2015 to reach $202,600, the 36th month of price rises in a…
