Driven by dynamic growth, Muniak has expanded its office space to approximately 500 square meters and unveiled a new design that reflects the quality of its services and extensive experience in the fit-out industry. About Muniak: Providing services in the commercial real estate market for over 30 years. A leading general contractor in Poland, Sweden and Germany. Completed over 400 thousand square meters of construction projects, including office and retail spaces. Employs around 60 people at its headquarters in Warsaw. Prioritizing quality and efficiency, Muniak decided to expand and redefi ..read more

According to the National Association of Realtors, pending U.S. home sales in February 2024 grew 1.6% month-over-month from January 2024. The Midwest and South posted monthly gains in transactions while the Northeast and West recorded losses. All four U.S. regions registered year-over-year decreases. The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – increased to 75.6 in February 2024. Year over year, pending transactions were down 7.0%. An index of 100 is equal to the level of contract activity in 2001. Lawrence Yun “While modest sa ..read more

U.S. Housing Affordability Remains at Historic Lows According to national property broker Redfin, the typical U.S. household earns $29,448 less than it needs to afford the median-priced home in 2024. While that’s a sign of a major housing affordability crisis, it marks an improvement from October, when the typical household earned a record $40,810 less than it needed as mortgage rates hit the highest level in 23 years. That’s based on a Redfin analysis of the estimated median U.S. household income and median monthly housing payments as of February 2024. Buyers needed to earn an annual income o ..read more

Based on a new report by global property consultant JLL, as demand for high-quality and differentiated office assets intensified during the pandemic, highly amenitized office buildings are expanding their outperformance against the broader market, particularly those that offer enhanced gathering spaces and prioritize wellness. JLL says highly amenitized buildings–assets with 10 or more tagged amenities and at least one differentiated offering like a roof terrace or full-service fitness center–have resisted the broader downsizing trend impacting the U.S. office market. These buildings have col ..read more

Recent data from the Miami Association of Realtors indicates a slight decrease of 1.8% in total residential sales in Palm Beach County for February 2024, dropping from 1,794 to 1,762 units. Notably, sales of single-family homes in Palm Beach saw a year-over-year increase of 5.2% in February 2024, rising from 975 to 1,026 units. Luxury home sales (homes priced over $1 million) in Palm Beach County experienced a significant boost, surging by 20.8% compared to the same month last year. Conversely, sales of existing condos in Palm Beach fell by 10.1% year-over-year, from 819 units in February 202 ..read more

According to new data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in December 2023 in the U.S. increased 8.0% to a 664,000 seasonally adjusted annual rate from an upwardly revised reading in November 2023. The pace of new home sales in December is up 4.4% from a year earlier. On an annual basis, new home sales total 668,000 in 2023, up 4.2% from the 2022 figure of 641,000. “The solid new home sales rate in December was fueled by a lack of existing inventory in the resale market and declining interest rates,” sai ..read more

Investments in Q4 totaled $31.6 billion, ending a 7-quarter slump According to new data by global real estate consulting firm JLL, commercial real estate investment in Asia Pacific rose 3% year-on-year (YoY) in Q4 2023 to $31.6 billion, reversing seven consecutive quarters of decreasing volumes. Overall annual investment across the region decline by 17% YoY to $106.8 billion in 2023. China stood at the forefront of Asia Pacific’s investment rebound for the second consecutive quarter, recording a 50% YoY increase in volume to $11.1 billion. Meanwhile, sectors such as logistics (down -5% to $6.5 ..read more

Record Share of Luxury Home Buyers Now Paying in Cash Based on new data by Redfin, the typical U.S. luxury home sold for a record $1.17 million in the fourth quarter, up 8.8% from a year earlier. Prices of non-luxury homes increased at half the pace, rising 4.6% year over year to a record $340,000. This is according to an analysis that divided all U.S. residential properties into tiers based on Redfin Estimates of the homes’ market values as of January 2024. Redfin’s report defines luxury homes as those estimated to be in the top 5% of their respective metro area based on market value, and non ..read more

Based on new data from the Canadian Real Estate Association, home sales activity rose 8.7% between November and December 2023, putting it on par with some of last year’s relatively stronger months recorded over the spring and summer. The actual (not seasonally adjusted) number of transactions came in 3.7% above December 2022, the largest year-over-year gain since August. On an annual basis, home sales totaled 443,511 units in 2023, a decline of 11.1% from 2022. It was technically the lowest annual level for national sales activity since 2008; although it was very close to levels recorded in e ..read more

According to the Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data, U.S. construction input prices decreased 0.6% in December 2023 compared to the previous month. Nonresidential construction input prices decreased 0.4% for the month. Overall construction input prices are 1.2% higher than a year ago, while nonresidential construction input prices are 1.6% higher. Prices decreased in 2 of the 3 energy subcategories last month. Crude petroleum input prices were down 13.2%, while unprocessed energy materials were down 9.1%. Natural gas pric ..read more