Chinese developer Shimao Property Holdings Ltd won an auction for a residential site worth HK$7 billion ($903.23 million), the government said on Tuesday.
When he bought Grand Central Terminal nine years ago, Andrew S. Penson figured that the unused development rights, or air rights, over the country’s busiest train station were worth a fortune.
The soft-spoken real estate investor, however, failed to come to terms with a developer next door who needed them, or to sell even one square foot of more than a million square feet of those rights.
On Monday, Mr. Penson filed a $1.1 billion lawsuit in United States District Court in Manhattan that argued that the administration of Mayor Bill de Blasio, a Democrat, the City Council and the developer, SL Green Realty Corporation, had deprived him of his property rights when the city gave SL Green permission to build a 1,501-foot tall office tower, without having to buy any air rights from him.
Demand for new housing In Ireland will continue to increase in accordance with population trends and a reduction in household sizes with 21,000 new homes needed per year for the next three years.
Details from the National Housing Statement by the Housing Agency points out that the population is currently at its highest for 150 years at 4.5 million and demand for homes is high as a result.
It also shows that affordability is an issue for those looking to buy in the greater Dublin area.
Overall house prices have increased across the country with the median price nationally at €152,000, up from €140,000 in 2013. In Dublin it is €260,000, up from €220,000 in 2013.
Some 200,000 homes will be made available to first-time buyers in England by 2020 if the Tories win the election, David Cameron has promised.
The coalition government has already announced plans for 100,000 cut-price homes for people aged under 40.
Until the guidance on permitted development rights for converting farm buildings to dwellings is sharpened, farmers will need to give their applications the best possible chance.
Jane Scott, senior planning consultant at Hobbs and Parker, offers her advice.
The conversion of farm buildings into dwellings is being hampered by confusing legislation, leaving many farmers frustrated.
Turning agricultural buildings into homes was meant to be easier with the introduction of Class MB permitted development rights (PDRs) introduced in April 2014.
First-time buyers under the age of 40 in England can now register to buy new homes at a discount of up to 20% off the normal price.
The offer is part of the government's new "starter homes" scheme to encourage home ownership and construction on previously used "brownfield" land.
Interest in small- and medium-scale solar is growing, both for farmer-owned sites and lease projects.
With the recent focus on getting some of the much larger (5MW-plus) projects up and running before a change in the way these are supported takes effect, developers have often overlooked opportunities for 1-2MW sites, says Giles Hanglin, director at Savills Energy .
The government's flagship planning policy has seen "inappropriate and unwanted" housing development spring up across England, MPs have said.
Rules allowing shops and offices to be converted without planning permission should be scrapped, the Communities and Local Government Committee urged.
It said the National Planning Policy Framework left High Streets unprotected against out-of-town store developments.
Governments across the globe are grappling with the question of how to provide affordable housing for their ever-expanding populations. In the Netherlands many believe the solution lies not on land but on water.
Cruise by any of the canals in the Dutch capital and you'll catch a glimpse of people sipping cappuccinos on their floating verandas. Amsterdam, like many Dutch cities, is criss-crossed by an impressive network of canals.
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