USA rents accelerate, rising 6.3% annually. Asking prices rose 7.8% year-over-year. At the local level, asking prices rose year-over-year in 96 of the 100 largest U.S. metros.
In a recent circular [RBI/2014-15/132 A.P. (DIR Series) Circular No.5] the RBI has raised the remittance limit up to US$ 125,000 per individual, per year and removed the restriction against the purchase of property.
Demand for apartments is seemingly insatiable. Low vacancy, an improving economy and labor market, and lots of newly completed Class A properties coming online with rents higher than the market average will push asking and effective rents up by roughly 3.3% next year.
In real terms – and as a price-to-rent ratio – prices are mostly back to early 2000 levels.
A majority (85 percent) of the 382 metros covered in August experienced annual home value appreciation. Among the 30 largest metro areas covered by Zillow, 20 saw annual appreciation of 10 percent or more.
The business of buying-and-renting houses, long dominated by local mom-and-pop investors, has morphed over the past two years into one of the hottest investments on Wall Street. Dozens of pension investors and private-equity firms, such as Blackstone Group LP and Colony Capital LLC, are clamoring to buy homes in beaten-up markets, sometimes using money from foreign co-investors… “We are buying the houses up, and I’d say unashamedly at very, very cheap prices, but I don’t see much of us crowding out other home buyers,” said Mr. Dixon of US Masters…
U.S. home prices rose in July for the fourth straight month to reach their highest level in nearly two years, according to an index released Tuesday. The S&P/Case-Shiller 20-city composite posted a 1.6% increase in July, following 2.3% advance in June. For the third month in a row, all 20 cities in the index recorded prices gains.