New Yorkers are used to living in shoe box apartments. Now, more of them can see what it is like to live in something even smaller. Leasing begins Monday at Carmel Place, the city’s first micro-unit development, a nine-story, modular building at 335 East 27th Street with 55 studios ranging from 260 to 360 square feet.
Annual rent growth in the United States has slowed for the third month in a row but rents are still rising faster than historical norms, according to the latest index data.
Rents appreciated 4.5% year on year in October, down from 5.3% in September, down from a high of 6.6% in July and it is mostly due to more properties, specifically apartments, coming onto the market, the Zillow real estate market report shows.
Rent controls are set to be introduced in Ireland, with the move due to be agreed by the Irish cabinet tomorrow.
It is understood that landlords would only be able to increase rents every two years.
Residential rental market conditions outside of capital cities in Australia remained weak over the September 2015 quarter with prices falling or remaining flat.
Weekly rents fell the most in regional Western Australia with a decrease of 2.6, they were down 2.1% in the Northern Territory and down 1.7% in Victoria. The remaining capital cities all recorded flat condition over the three months ending September 2015.
Weekly rental rates in Australian capital cities were unchanged in September but in the last three months have risen at their slowest annual pace ever.
Indeed, the latest CoreLogic RP data report shows that the annual pace of rental growth across all capital cities is at a new record low of 0.5% in the year to September.
Ireland plans to bring in legislation linking residential rents to the rate of inflation, in a bid to curb soaring rental costs, the Sunday Times reported.
Ireland's housing shortage has become a major political issue ahead of elections due in the next six months.
US home rents rose at a slower pace in August, a downshift that may reflect the rise of apartment construction in many major cities.
Real estate data firm Zillow says that median rents rose a seasonally adjusted 3.8 per cent from a year ago, off from the annual pace of 4.2 per cent in July. Rental prices are still climbing at a faster pace than average earnings, increasing the financial burden of housing and potentially delaying the accumulation of savings to buy a home.
Changes in New Zealand mean that every rental property must reach specified insulation standards by July 2019 and have smoke alarms fitted.
Housing minister Nick Smith has announced new rental regulations which all landlords must meet. Only properties where it is physically impractical to fit insulation will be exempt.
The smoke alarms will become obligatory in July of next year but tenants will be responsible for replacing batteries and informing landlords of any defects that prevent the alarms from working.
Oakland, California's population increase has caused rents to jump in 2015.
Thanks to new development projects and a workforce flooded with millennials who'd rather rent than buy, major US cities are seeing increases in rent prices.
In its National Rent Report, residential real estate rental website Zumper analyzed one million active one-bedroom listings to find the most expensive cities in the country for renters.
Of the top 20 cities on the list, six are located in California.
Law aims to prevent landlords from raising rents for new tenants to more than 10% above local average, but there are no penalties if a landlord is caught
Opt in here