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World Property Channel
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Properties, Places and Perspectives - Worldwide
Properties, Places and Perspectives - Worldwide

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August is proving to be a good month for Miami-based The Related Group. The company just announced this week that they have hit sales of over $300 million at SLS Lux Brickell, as reservations successfully convert to contracts throughout August at a record pace--150 in ten days.

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According to CBRE, national multifamily demand in the U.S. continued to gain momentum as a combination of improving job growth and more households shifting from owning to renting boosted net absorption in Q2 2014.

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The Fairmont St. Andrews Hotel and Golf Resort based in Scotland has been sold for approximately £32.4m ($54,000,000 USD) to Kennedy Wilson Europe Real Estate Plc, says CBRE Hotels Group, who handled the transaction.

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China's property market saw a further decline of property prices in July, the third consecutive monthly decline in 2014.

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According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, fueled by strong single and multifamily growth, nationwide housing starts rose 15.7 percent to a seasonally adjusted annual rate of 1.093 million units in July. This is the highest level since November 2013.

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According to the California Association of Realtors (C.A.R.), California's home sales posted higher for the second straight month, while the statewide median home price rose from the previous month as well as from a year ago.

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Based on the latest S&P/Experian Consumer Credit Default Indices for July 2014, there was another slight decline in default rates. The national composite posted 1.01% in July, down one basis point from last month.

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According to RealtyTrac's U.S. Institutional Investor & Cash Sales Report, all-cash sales accounted for 37.9 percent of all sales of single family homes and condos nationwide in the second quarter, down from a three-year high of 42.0 percent in the previous quarter but still up from 35.7 percent in a year ago.

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According to RealtyTrac latest U.S. Foreclosure Market Report for July 2014, foreclosure filings, which include default notices, scheduled auctions and bank repossessions, were reported on 109,434 U.S. properties in July 2014.

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Some good news on the U.S. housing front today.
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