B.C. real estate is picking up again, but it’s generally lagging the general market – especially in Vancouver. Canadian Real Estate Association (CREA) data shows all significant markets saw a bump in November. Despite strong monthly gains, the province is generally underperforming the rest of Canada.
Greater Vancouver Real Estate Is Still Negative From 3-Years Ago
Greater Vancouver real estate is picking up, but price performance is really lagging the rest of B.C. The benchmark price reached $1,053,500 in November, up 0.52% from the month before. This represents an increase of 5.78% when compared to the same month last year. The monthly increase, while very large, is the second slowest in the province. The 12-month change is the third slowest, and it’s the only major market in BC that’s negative from 3 years ago. For context, the national home price index moved just over 10%, so Vancouver is lagging the market these days.
B.C. Real Estate Prices
The price of a typical home in B.C.’s significant real estate markets, in Canadian dollars. Source: CREA, Better Dwelling.
Victoria Real Estate Sees Biggest Monthly Price Growth
Victoria real estate saw the biggest monthly price increase in the province last month. The benchmark price reached $736,700 in November, up 1.74% from the month before. This represents an increase of just 4.38% from last year though. It also saw the second biggest 3-year price increase in B.C. at just 14.02%. Monthly gains are huge, and performance is near the top in B.C., but it’s still lagging the rest of Canada.
B.C. Real Estate Prices (Monthly Change)
The monthly percent change in the price of a typical home in B.C.’s significant real estate markets, in Canadian dollars. Source: CREA, Better Dwelling.
Chilliwack Real Estate Is The Best Performing In The Past Year
The Chilliwack region is leading B.C. real estate for annual price gains. The benchmark price reached $567,900 in November, up a whopping 1.40% from a month before. This represents an increase of 9.89% from the same month last year. Compared to the 3-years ago, prices are now 14.63% higher. The 12-month increase is the biggest in the province, representing almost two-thirds of the 3-year price gains.
B.C. Real Estate Prices (12-Month Change)
The 12-month percent change in the price of a typical home in B.C.’s significant real estate markets, in Canadian dollars. Source: CREA, Better Dwelling.
Generally B.C. real estate is rising fairly fast, but the urban premiums aren’t quite what they used to be. During the pandemic, major cities like Toronto and Vancouver have begun to lag smaller surrounding cities. This is likely to do with work from home decoupling office proximity. Although when every market in the country is rising, especially at a breakneck speed, it has less to do with fundamentals, and more to do with the massive injection of credit being supplied.
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15 Biggest Real Estate Companies in the World – Yahoo Finance
In this article, we are going to list the 15 biggest real estate companies in the world. Click to skip ahead and jump to the 5 biggest real estate companies in the world. The real estate industry is a big business that generates hundreds of billions of dollars of revenue annually, and there are plenty of opportunities for investors to make a profit. The real estate industry includes many aspects of a property, including all the development, valuation, marketing, sale, leasing, and management of commercial, industrial, residential, and agricultural properties.
If we come to think of it, real estate is a cyclical industry that responds to macroeconomic trends such as interest rates, population growth, and economic strength. Today, the real estate industry is one of the most highly profitable sectors of the U.S. economy and remains to provide opportunities for interested and motivated investors. But before that, the industry experienced a rollercoaster of events that marked the history of real estate in the country. Real estate rose in the post-World War II economic boom of the 1950s, plunged in the inflation-ridden 1970s, soared again in the early 1980s until the depression at the end of that decade, and became prosperous again by the end of the century.
The global value of the real estate industry was rated at $6.9 trillion in 2018 and is expected to reach $8.7 trillion by 2026, with a compound annual growth rate (CAGR) of 2.8% from 2019 to 2026. COVID-19 pandemic has had a sudden impact on all aspects of people’s lives. The government-mandated lockdowns have directly impacted commercial real estate as offices and retail stores have closed down yet gave way to boost the tech and e-commerce industries during the pandemic. Check out the 15 best e-commerce stocks to buy now to include in your portfolio. Throughout the COVID-19 pandemic, the residential sector has established its position for resilience and stable operating cash flows.
Factors driving the growth of the real estate market include the growth of corporate outsourcing; rising capital investments to real estate; rapid urbanization and urban construction; the development of new technologies; and the need to build a more sustainable environment and to take immediate and effective measures to combat climate change. Our ‘new normal’ will take time to progress, yet promises a better future for the real estate industry.
The real estate industry transformed as the United States switched from an agricultural society to an industrial one. Check out the top 10 largest agricultural companies by revenue in the US for a detailed analysis of the agriculture market in the US. In 2019, the US was the largest market for real estate with market size of $3.41 trillion followed by Japan, the UK, and China. This explains why most of the real estate companies on our list are from the US. We created a list of the top real estate companies in the world and ranked them by their total revenue, market cap, assets, and the number of employees that we sourced from Forbes. Let’s check out the biggest real estate companies in the world starting at number 15:
15. Link REIT
Revenue: $1.3 billion
Market Cap: $18.5 billion
Assets: $29.6 billion
Number of Employees: 955
Headquarters: Hong Kong, HK
Link Real Estate Investment Trust operates a diversified portfolio of assets including shopping centers, parking spaces, offices, and retail real estate amounting to HK$195 billion. The company owns approximately 131 assets whereas 87% are in Hong Kong and 13% in four key Chinese first-tier cities. In 2020, Link REIT stepped its foot in the European market and announced its deal of purchase of 25 Cabot Square in London for $475 million. This deal was announced seven months after Link REIT’s first acquisition outside Hong Kong and Mainland China where the company purchased a 10-story A-grade office tower at 100 Market Street in Sydney, Australia for AU$683 million. The company will increase its exposure in Mainland China and the gateway cities of other major developed markets, such as Australia, Singapore, Japan, and the United Kingdom, due to their relative economic stability and liquidity, as well as transparent regulatory environments.
Brian A Jackson/Shutterstock.com
Revenue: $1.4 billion
Market Cap: $5.5 billion
Assets: $29 billion
Number of Employees: 937
Headquarters: Paris, France
Covivio SA, which used to be known as Fonciere des Régions SA, is a French real estate investment trust company with a diversified portfolio of office real estate assets. Covivio specializes in designing and developing attractive offices (3.3 million m² of office space in France, Italy, and Germany), multi-service hotels (350 hotels), and residentials (41,000 residences).
Copyright: vikalipa / 123RF Stock Photo
13. Healthpeak Properties (NYSE: PEAK)
Revenue: $2 billion
Market Cap: $15.33 billion
Assets: $14 billion
Number of Employees: 204
Headquarters: Irvine, CA
Healthpeak Properties, Inc. is a real estate company that invests primarily in commercial property that serves the health care industry in the United States. The company acquires, develops, leases, sells, and manages healthcare real estate and provides mortgages and other financings to health care providers. Healthpeak’s consolidated investment portfolio consists of approximately 615 properties.
12. AvalonBay Communities (NYSE: AVB)
Revenue: $2.3 billion
Market Cap: $21.93 billion
Assets: $19.1 billion
Number of Employees: 3,122
Headquarters: Arlington, VA
AvalonBay Communities is one of the biggest real estate companies in the world engaged in the development, acquisition, ownership, and operation of multi-family communities. In 2020, AvalonBay Communities owned or held a direct or indirect ownership stake in 294 commercial properties with 86,676 apartment properties in 11 states, primarily New England, New York/New Jersey, Mid-Atlantic, Pacific Northwest, Northern and Southern California, and the District of Columbia.
Revenue: $2.7 billion
Market Cap: $10.5 billion
Assets: $18.7 billion
Number of Employees: 3,259
Headquarters: Stockholm, Sweden
Stockholm-based real estate tycoon Lundbergs AB operates as a parent company and a contractor for other commercial enterprises, including real estate leasing. The company also offers equity and securities trading, as well as forestry and paper manufacturing. The real estate sector is consists of approximately one million square meters of the leasable area across 132 properties. The area consists of approximately 50% of the residential units and the rest of the premises are commercial premises which are mainly office and retail space, but also educational facilities, gyms, film theaters, warehouses, and industrial premises.
STUDIO GRAND OUEST/Shutterstock.com
10. Public Storage (NYSE: PSA)
Revenue: $2.9 billion
Market Cap: $38.68 billion
Assets: $11.8 billion
Number of Employees: 5,900
Headquarters: Glendale, CA
Public storage is one of the world’s largest real estate companies engaged in the acquisition, development, ownership, and operation of self-storage facilities. The self-storage company started offering its facilities in 1972 and since then Public Storage has grown with thousands of locations in the US and Europe. The company also provides more than 170 million net, profitable square feet of real estate.
9. Boston Properties (NYSE: BXP)
Revenue: $3 billion
Market Cap: $13.95 billion
Assets: $21.8 billion
Number of Employees: 760
Headquarters: Boston, MA
Boston Properties is one of the largest owners, managers, and investors of Class A office properties in the United States, with a major presence in five markets: Boston, Los Angeles, New York, San Francisco, and Washington, DC. The firm operates a diverse portfolio of primarily Class A office spaces totaling approximately 48.4 million square feet and consisting of 164 office properties, 5 retail properties, 5 residential properties, and a hotel. The Company has a record in developing premium Central Business District office buildings, new suburban centers, and construction projects for the U.S. government and a diverse array of highly leveraged tenants.
8. Digital Realty Trust (NYSE: DLR)
Revenue: $3.2 billion
Market Cap: $36.78 billion
Assets: $23.1 billion
Number of Employees:
Headquarters: San Francisco, CA
Digital Realty Trust is the 8th largest data center provider in the world. Digital Realty Trust, Inc. works as a real estate investment trust engaged in the provision of the data center, placement, and interconnection solutions. Digital Realty supports the network infrastructure, configuration, and interconnection strategies of customers around the world, ranging from cloud and information technology services, communications and social networking, financial services, manufacturing, energy, healthcare, and consumer products. Digital Realty Trust owns over 280 data centers in over 20 countries around the world.
7. Prologis (NYSE: PLD)
Revenue: $3.5 billion
Market Cap: $69.97 billion
Assets: $55 billion
Number of Employees: 1,712
Headquarters: Denver, CO
Prologis runs as an industrial real estate investment trust and operates and develops storage services as well as logistics facilities. The company is involved in the ownership and development of logistics properties and also includes rental income, recoveries, and expenses recognized from its consolidated properties. Prologis also operates a strategic capital segment, which represents the management of co-investment undertakings and other unconsolidated entities. The company owns 976 million square meters of modern logistics space and 4,679 facilities in 19 counties.
6. Welltower (NYSE: WELL)
Revenue: $5.1 billion
Market Cap: $25.53 billion
Assets: $33.4 billion
Number of Employees: 443
Headquarters: Toledo, OH
Welltower, Inc. is committed to providing health care infrastructure and investing in senior housing operators, post-acute providers, and health systems. The company also offers assisted living facilities, independent living/continuing care retirement communities, care homes, self-supporting living facilities, nursing care homes in the United States, the United Kingdom, and Canada.
Click to continue reading and see the 5 biggest real estate companies in the world.
Disclosure: No position. 15 biggest real estate companies in the world is originally published at Insider Monkey.
Calgary real estate showing shift to seller's market – Calgary Herald
A recent survey of major real estate resale markets across Canada has found Calgary is now a sellers’ market.
Zoocasa, an online realty firm, ranked the nation’s most competitive markets, and it found Alberta’s major markets were much more competitive than a year ago.
“Going into 2020, much of Canada was in a sellers’ market, but Calgary and Edmonton were not,” says Lauren Haw, CEO of Zoocasa. “They were balanced, so if you were buying in Canada, they were the place to be.”
But now both are in sellers’ markets, with Calgary being the hotter of the two.
The measure Zoocasa used, however, only offers a rough picture of actual conditions, Haw admits. The realty firm used the sales-to-new-listings ratio, dividing sales by new listings.
“As a rule of thumb, anything over 60 per cent means it’s a sellers’ market,” she says.
Haw notes Calgary’s ratio was 87 per cent in November (the period used for the survey) compared with 60 per cent for the same month in 2019. Edmonton’s was 76 per cent in November.
As she further explains, a ratio below 40 per cent is considered a buyers’ market, while one between 40 and 60 per cent is balanced.
The caveat, she adds, is Calgary’s low- to mid-range single-family detached home segment is driving sales while experiencing low supply. At the same time, the condominium and higher-price segments still mostly favour buyers.
By comparison, the most competitive market in Canada was Sudbury, with a ratio of 117 per cent. Greater Vancouver and Greater Toronto had ratios of 76 and 75 per cent respectively.
Short supply, GTA migration boosts Hamilton real estate market 15 per cent – TheSpec.com
Hamilton’s housing and rental market continued its hot streak even as a second wave of COVID-19 hit the city in December.
The price of a home in Hamilton increased 15.3 per cent year over year to $659,409 in the fourth quarter of 2020, according to a survey released Friday from Royal LePage.
That’s higher than the national aggregate price of a home in Canada, which increased 9.7 per cent to $708,842 year over year.
The median price of a two-storey home increased 17.1 per cent to $698,511, while the median price of a bungalow increased 11.8 per cent to $604,827. The price of a condominium increased 0.7 per cent to $381,008.
Overall, Hamilton’s real estate market saw double-digit gains in home prices in 2020.
Joe Ferrante, broker of record with Royal LePage State Realty, said he expects this trend to continue well into 2021.
“Multiple-offer scenarios have become commonplace and buyers are offering tens of thousands of dollars above the asking price to secure deals,” Ferrante said in a statement.
“With inventory at an all-time low, some sellers held off on listing their properties in 2020 on account of having little or no purchase options.”
Ferrante attributes the rising prices to a “combination of two things — interest rates and a definite shortage of product.”
“It’s a simple supply and demand issue when you think about it,” he said. “People are just not putting their houses up for sale like they used to, while the amount of people into our market outside the Hamilton area and from around the GTA seem to be buying up whatever we have, thus driving the prices up.”
The rental market has become quite competitive as well, noted Ferrante, as many people who can’t find property to buy are renting in the meantime.
“The lack of inventory is causing first-time buyers, who want to take advantage of low borrowing rates, to be priced out of the market,” he said. “These buyer hopefuls now find themselves competing for rental properties instead.”
The pandemic has created an “untraditional” year for the real estate market. After slow sales in April, the ripple effect of the pandemic on consumer behaviour resulted in more residents working and schooling from home.
According to a recent report from the Realtors Association of Hamilton-Burlington (RAHB), sales of single-family homes in the area increased in December by 38 per cent compared to December 2019, while the average price rose by 29 per cent to $829,226.
In comparison, Ancaster in 2019 was the local area with the highest average home sales price at $772,811.
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