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U.S. apartment vacancy rate falls in first quarter

(Reuters) - The U.S. apartment vacancy rate fell to 4 percent in the first quarter of 2014 as the market's recovery stretched into its fourth year, according to real estate research firm Reis Inc. The vacancy rate now stands 400 basis points below its peak of 8 percent at the end of 2009. Rents remain at record-high nominal levels, although labor market weakness is limiting the ability of landlords to jack up rents at an even faster pace.

Sky palace: Documents show Redford planned swank penthouse in government building

EDMONTON - Documents released Friday show former Alberta premier Alison Redford had been planning a swank taxpayer-funded penthouse retreat on top of a government building. The "premier's suite" was to have bedrooms for Redford and her pre-teen daughter, Sarah, a shared bathroom, a powder room, a walk-in closet, a butler's pantry and dining, study and lounge areas. Information on the suite — including memos, emails and reports — was released by the province.

U.S. apartment vacancy rate falls, rents rise in 4th quarter

By Michelle Conlin (Reuters) - The U.S. apartment vacancy rate eased to its lowest level in more than a decade, but stagnant income growth moderated rent increases, according to an industry report released on Monday. The national apartment vacancy rate fell 0.1 percentage point to 4.1 percent in the fourth quarter from the third quarter, according to a preliminary report by real estate research firm Reis Inc. It was the lowest vacancy rate since the third quarter of 2001, when it was 3.9 percent

Mumbai's residents resigned to living in dangerous buildings

The top two storeys have already been torn down and workmen with sledgehammers are hacking at what's left, but at Mumbai's Botawala Chawl apartment complex four families refuse to leave. They are among many in the Indian city stuck in dilapidated or poorly built structures, whose plight was highlighted last month when a residential block came crashing down killing 60 people sleeping inside. "The builders haven't given us anything in writing," said 57-year-old tenant R.K. Tiwari, who has verbally been promised an apartment in a replacement high-rise block.

Killam Properties buys Toronto building for $40M, sees small climb in Q2 revenue

HALIFAX - Killam Properties Inc. (TSX:KMP) says it has acquired a newly constructed eight-storey mixed-used building in downtown Toronto for $40 million. The Halifax-based residential landlord said Wednesday the building on Queen Street West contains 21,242 square feet of retail space and 179 apartment units. The purchase price is equivalent to $145,000 per suite and $659 per square foot of commercial space, bringing the total the company spent this year on acquisitions to $104.3 million, including newly bought apartments and land for future development.

U.S. apartment vacancy rate flat in second quarter, but rents rise

By Ilaina Jonas NEW YORK (Reuters) - The U.S. apartment vacancy rate was unchanged in the second quarter, the first time in two years that the vacancy rate failed to tighten, in a sign that a wave of new properties may be easing market conditions, according to real estate research firm Reis Inc.

Man calls Magnotta's old apartment home one year after killing: superintendent

MONTREAL - Tenants in a Montreal apartment block have made their home at the alleged scene of one of Canada's most-notorious slayings — the former abode of accused killer Luka Rocco Magnotta. What's unclear is whether they know about the space's gruesome history following a killing that made global headlines. A year ago this week, Jun Lin's torso was found in a suitcase behind a low-rent apartment building in the city's west end.

Capital govt flats, houses in poor condition

Several government flats and houses in various sectors of the Federal capital were in poor conditions, which posed a serious threat to the lives of the inhabitants.As the CDA was reluctant to renovate the flats, their condition had deteriorated with each passing day.Residents appealed to the concerned authorities repeatedly for renovation of the flats, but to no avail.These flats and houses were generally located in the old sectors of Islamabad such as in sectors F/6, G/6, G/7, G/9 and G/11.

British government boosts office-to-homes switches

By Tom Bill LONDON, Jan 22 (Reuters) - The British government will make it easier for developers to convert offices into apartments, the latest in a string of initiatives to kick-start economic growth through housing. Planning minister Nick Boles is due to announce the changes to the planning system this week to help to meet the country's huge demand for housing and revamp rundown areas where office schemes are not viable, a government source told Reuters.
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