‘Investment’ and ‘development’ in the real estate market are two terms we have not heard much of these past few years. Fortunately for our city, however, residential developers and real estate investors are doing their part to keep the Boston housing market going strong, in spite of the lagging regional economy. A recent article on Boston.com explains that multi-family housing projects are on the rise, thanks to the profit-making combination of rising rent prices, low vacancies and interest rates hovering around 4 percent. This formula has resulted in increased rates for investor returns compared to what we have seen the past few decades, and hence an opportunity for high profits in an extremely difficult market. Demand for apartment projects has seen…
There are 3 blog entries for December 2011.
New 43-Story Condo Planned for Kakaako
According to "Honolulu Magazine" online, "By now you've heard that Kewalo Development, a subsidiary of A&B Properties Inc., has unveiled its plans for a 43-story, upscale residential condo between the Hawaiki and Koolani buildings. It looks nice, but what's going to make it different from the other towers in the area?
In keeping with the trend to go green, A&B is incorporating a variety of energy-efficient technologies, including:
- A heat recovery system to centrally heat hot water for all residences as well as the pool
- LED lighting in the common areas
- Lighting systems in the common areas to enable use as needed
- Dual air conditioning controls in two- and three-bedroom residences
Owning Continues to Become More Affordable Relative to Renting, but Several Obstacles Prevent Many From Biting
By: Nick Timiraos
Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting in a growing number of cities.
The Wall Street Journal's third-quarter survey of housing-market conditions in 28 of the nation's largest metropolitan areas found that home values declined in all but five markets compared with the second quarter, according to data from Zillow Inc. Meanwhile, rent levels have risen briskly across the country and mortgage rates, hovering around 4%, are the lowest in six decades.
As a result, monthly mortgage…