DIRS.INFO The most relevant business & tech news

☆ Golden Age for Rich Renters: Deals Make It Better Than Buying a Home
▼ + stars: | 2024-06-05 | by ( James Rodriguez | ) www.businessinsider.com time to read: +10 min

The result is that class A units account for more than half the apartment market, compared with one-third in the early 2000s, according to Moody's Analytics. High-end apartments that offer amenities up the wazoo — and rent breaks, to boot — represent a tantalizing alternative to the for-sale market right now. But as with all good things, the golden age for America's wealthy renters must also come to an end. Nations told me she still hoped to buy a home one day. "I know how challenging it is to rent in Nashville, especially on your own," Nations told me.

Persons: Emily Nations, she's, Nicole Bachaud, Rich, Joel Sanders, Sanders, Doug Ressler, David Brasington, Ressler, they're, — Organizations: Trinity, cabana, Nations, Analytics, University of Cincinnati, Census Locations: Nashville, downtown, Nations, New York, Salt Lake City, Atlanta, America, Houston, Austin, Phoenix, Charlotte, North Carolina, Raleigh , North Carolina, Tampa , Florida

That apartment complex is Stadium Lofts, a former baseball stadium that was converted into 138 apartments by Core Redevelopment, a Midwest developer group. The Stadium Lofts has 138 units and Stadium Flats, the four-building complex next door, has 144. The Stadium Lofts renovation took the partners just under two years to complete. The Stadium Flats addition was completed about a year after the Stadium Lofts opened and cost around $13 million. Cox, Watson, and his sons had a budget of $14 million for the Stadium Lofts conversion and, in the end, spent roughly $13.8 million.

Persons: Michael Cox, John Watson, Cox, Michael Potter, Watson Organizations: Core, CNBC, Indianapolis Indians, Indiana Landmarks, Bush, Cox, of Fame Locations: Indianapolis , Indiana, Midwest, Indiana, Indianapolis, Marion County , Indiana, Marion ,

☆ A med student wanted to simplify his life, so he spent $33,000 turning a van into a tiny house. Take a look inside.
▼ + stars: | 2024-06-04 | by ( Amanda Goh | ) www.businessinsider.com time to read: +8 min

Ethan Liebross went for a less common housing option: He lives full-time in a van — a 2015 Ford Transit that he turned into a mobile, off-grid home. Ethan LiebrossAlthough he grew up on a farm in New Jersey, he's no stranger to van life. AdvertisementDuring his gap year, he had lived out of another van while working as a freelance writer for local newspapers. "So I decided to convert a little camper van — a Ford Transit Connect — and I traveled around the US." "We worked together on the weekends or when he came home from work," Liebross said.

Persons: —, Ethan Liebross, he's, Liebross, he'd, who's, He's, I'd, I'm Organizations: Service, Ford Transit, Business, Ford Transit Connect, Facebook Locations: New Jersey, California

☆ New Yorkers Who Need Help With Rent Can (Finally) Join a List for Help
▼ + stars: | 2024-06-03 | by ( Mihir Zaveri | ) www.nytimes.com time to read: +1 min

For the first time in 15 years, thousands of people who cannot afford to live in New York City may be able to get financial help through a highly sought-after federal program. The New York City Housing Authority on Monday reopened a waiting list for housing choice vouchers, a federally funded program also known as Section 8. Now, that waiting list has dropped to 3,700 households, prompting NYCHA to reopen it. Vouchers help more than five million people nationwide, but in no place is the program as expansive — and perhaps as needed — as in New York City. Here, nearly a quarter of a million lower-income New Yorkers rent apartments on the private market using vouchers.

Persons: NYCHA Organizations: New, New York City Housing Authority Locations: New York, New York City

☆ Take a tour inside a Parisian hotel suite that costs $52,000 per night
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: +1 min

There are 78 rooms at Paris' Hôtel de Crillon, but only two "Les Grand Appartements." The apartments can be combined, along with an adjoining room, to make a three-bedroom mega-suite that covers 335 square meters (3,606 square feet) of the hotel's fourth floor. Famed fashion designer Karl Lagerfeld designed the interiors down to the smallest of details, the hotel's Managing Director Vincent Billiard told CNBC. There's even a "secret room," said Billiard, hidden behind a bookcase that, with a push of a button, opens to reveal a magnificent dressing room. Watch the full video to see the suite's "secret room."

Persons: Karl Lagerfeld, Vincent Organizations: Vincent Billiard, CNBC Locations: Paris, Versailles

☆ Croatian millennials can't afford to buy homes. The solution — build on top of their parents' place.
▼ + stars: | 2024-06-02 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +6 min

Joshua Zitser/Business InsiderWhen Dascalescu, originally from Romania, moved to Mokošica in 2017 with his Croatian wife, Diana, buying a home in Dubrovnik wasn't financially viable. Now, Dascalescu and Marlais live on their own floor, beneath her brother and his children, who live beneath their parents. Joshua Zitser/Business InsiderThe popularity of this set-up comes down to price, according to a Croatian real-estate expert. AdvertisementPerhaps as a result, many Croatian millennials are stuck living at home well into their mid-30s — the highest average age in Europe. Given the lucrative potential of short-term rentals, Croatian homeowners might also be building rooftop apartments for tourists, to generate extra income, he added.

Persons: —, Bogdan Dascalescu, Dascalescu, Joshua Zitser, Diana Marlais, Diana, Marlais, Bogdan Dascalescu's, Filip Brkan, Brkan, Ivan Vukovic, Nenad Lipovac, Lipovac, there's Organizations: Service, Business, Real Estate Business Association of, Croatian Chamber, Eurostat, UNESCO, University of Zagreb, BI Locations: Dubrovnik, Old Town, Mokošica, Independence, Romania, Croatian, Dubrovnik wasn't, Marlais, Croatia, Europe

☆ 25 cities where rents are falling despite the biggest national increases in nearly two years
▼ + stars: | 2024-06-02 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

One-bedroom rent hadn't surged that fast since August 2022, while two-bedroom rent rose by the most in 20 months. May marked the second time in three months that monthly rent ticked higher, following flat price growth in April. An ominous omen for inflationFaster rent growth won't just affect tenants. Below are the 25 US cities where rent for a one-bedroom apartment declined from where it was in April, according to Zumper. Along with each are its month-over-month and year-over-year rent changes, average rent price, and national rent ranking among the nation's 100 biggest markets.

Persons: —, That's, 6hkPHpnbuq — James Faris, @JamesFaris_, Anthemos Georgiades Organizations: Service, Business, CPI, Consumer

☆ Their landlord hiked their rent by 25%, so they applied for the NYC housing lottery. On the 25th try, luck was on their side.
▼ + stars: | 2024-06-02 | by ( Amanda Goh | ) www.businessinsider.com time to read: +8 min

Read previewIn 2021, Brynne McManimie and Peter Romano lived in a one-bedroom apartment in Greenpoint, Brooklyn. "That's when we were like, 'OK, let's just try the housing lottery,'" McManimie added. AdvertisementAlthough applying is free, each household must meet specific income requirements to qualify for a lottery apartment. Brynne McManimie and Peter Romano"It's definitely smaller than our old apartment," McManimie said. Advertisement"We're really happy and very thankful that New York City has an affordable housing lottery.

Persons: —, Brynne McManimie, Peter Romano, let's, Brynne, Peter Romano Matthew Dunivan, there's, McManimie, Clinton Hill, Romano, it's, There's, It's Organizations: Service, Business, New Yorker, New York City Department of Housing Preservation, Housing Development Corporation, The New York Times, New York Times, New Locations: Greenpoint , Brooklyn, New, West Coast, New York, Greenpoint —, Clinton, RentHop.com, Clinton Hill, Poconos, New York City

Rent costs across U.S. continue to fluctuate, but there are some major areas where prices are trending up year-over-year. California is the only state with two metro areas in the top five. The rise in rent for one-bedroom apartments in California's Stockton metro area was similar, going from $1,161 in 2023 to $1,175 in 2024 — a 1.2% increase. It is important to note that the Census Bureau defines the Albuquerque, New Mexico metro area to be part of the core-based statistical area of Albuquerque-Santa-Fe-Las Vegas, New Mexico combined statistical area, falling under the southwest and western regions of the United States. Despite the nationwide median rent trending down year-over-year, the following metro areas in the western U.S. have seen the highest increases in rent for 1-bedroom apartments, similar to several areas in the Northeast.

Organizations: U.S, CNBC, Census, Thousand, Venture, Stockton , California metros, Thousand Oaks Locations: California, Oxnard, Stockton , California, Ventura, Los Angeles, California's Stockton, Albuquerque, New Mexico, Santa, Las Vegas , New Mexico, United States, U.S

☆ Mom of 2: My husband supercommuted from Minneapolis to NYC for 10 years—how we made it work
▼ + stars: | 2024-06-01 | by ( Megan Bearce | In Meganbearce | ) www.cnbc.com time to read: +7 min

The author, Megan Bearce, and her husband, Ian, had just moved from Los Angeles to Minneapolis when he got a job offer in New York City in 2010. I heard this question so many times over the 10 years my husband, Ian, flew weekly from our home in Minneapolis to his job in New York City. Ian posted photos and art on the walls of the New York City apartments he stayed in during the week when he supercommuted from Minneapolis. Visits to New York City helped the kids get a glimpse of Ian's life during the week, Megan says. The logistics of multiple activities felt too overwhelming for me to handle with Ian away during the week.

Persons: Megan Bearce, Ian, We'd, we'd, Ian didn't, Megan, Ian couldn't Organizations: New Locations: Los Angeles, Minneapolis, New York City, Brooklyn, Manhattan, Minnesota, Cape Cod

☆ China's new home prices inch up for 9th month in May, survey shows
▼ + stars: | 2024-06-01 | by ( ) www.cnbc.com time to read: +1 min

A real estate complex under construction in Huai 'an city, Jiangsu Province, China, June 20, 2023. New home prices in China rose slightly for a ninth month in May, a private survey showed, driven higher by a slew of supportive steps to prop up the nation's crisis-hit property sector. The average new home price across 100 cities rose 0.25% on month in May, following a 0.27% gain in April, the data from real estate researcher China Index Academy showed on Saturday. China's property sector, a pillar of the economy, has lurched from one crisis to another since 2021 after a regulatory crackdown on high leverage among developers triggered a liquidity crisis. The government is struggling to boost home sales or increase liquidity by taking a series of stimulus and easing measures.

Persons: Huai Organizations: China Index, China Locations: Jiangsu Province, China

☆ I dodged a 15% rent increase because of a new NYC housing protection law. Here's how to know if it could save you money.
▼ + stars: | 2024-06-01 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +9 min

They said my building was covered under the new Good Cause Eviction law, and my rent increase would instead be 8%. AdvertisementWhat is Good Cause Eviction? Good Cause also has what's called the reasonable rent increase measure: Buildings covered under Good Cause have limits on how much landlords can raise rent. I was under the impression that this building falls under the good cause eviction umbrella. Will Good Cause Eviction change or impact your life?

Persons: Weaver, —, Ellen Davidson, Davidson, Allia Mohamed, it's, Mohamed, that's Organizations: Service, Business, New, New York, Housing Justice, —, Legal Aid Society Locations: New York City, Central Park, New, New York, Bronx, Brooklyn

☆ A homeless advocate of 40 years says finding homes for unhoused New Yorkers with vouchers has never been so hard
▼ + stars: | 2024-06-01 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

And the biggest program to help those in need of homes — the federal housing voucher system — isn't keeping up. With city shelters struggling, the government has set up more than 200 emergency shelters to house migrants, including in former jails and hotels. Greenberg said he decided to seek out homeless voucher holders after hearing from those who'd had an excruciating time finding an apartment. Ed Jones/Getty ImagesThe Interfaith Assembly set up a pilot program about six months ago to help homeless voucher holders find homes. Advertisement"I've spoken to landlords who want housing voucher holders, who've experienced some real damage to their apartments," Greenberg said.

Persons: —, Marc Greenberg, Greenberg, We're, Eric Adams, who'd, Ed Jones, they're, who've Organizations: Service, Coalition, Business, York, Interfaith Assembly, Homelessness, New, Apple, . New York, Assembly, Washington State Locations: York City, New York City, New York, . New, Oregon

☆ Asia's top 4 up-and-coming rental markets that may be challenging traditional property hubs
▼ + stars: | 2024-05-31 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +3 min

Bangkok, Thailand has seen an 18.1% growth in residential rental prices on a year-on-year basis, according to JLL. Alexander Spatari | Moment | Getty ImagesSingapore and Hong Kong are generally considered Asia's more vibrant real estate markets. But some up-and-coming cities are giving these traditional hubs a run for their money, with some even beating them on rental yields. The following four cities have led the recovery in rental growth in Asia so far this year:Bangkok, ThailandResidential rental growth in Q1 2024 (y/y): +18.1% Average price to rent: THB 8,292 (about $226) per square meter annually "Rental demand has been surging in Bangkok," Allan said. This rental growth has been influenced by the stronger rent prices recorded in new high-quality offerings in the city, according to the report.

Persons: JLL, Alexander Spatari, Hong Kong, Roddy Allan, Allan, Ho Organizations: Getty Images, realty, Pacific Chief, CNBC Locations: Bangkok, Thailand, Getty Images Singapore, Hong Kong, Hong, Ho Chi Minh City, Jakarta, Manila, Asia, Pacific, expats, Vietnam, Indonesia, Philippines

☆ Photos Show Strength of Asian American Activism Throughout US History
▼ + stars: | 2024-05-30 | by ( Momo Takahashi | ) www.businessinsider.com time to read: +12 min

The term "Asian American" was first coined in 1968 amid the rising voices of the Third World Liberation Front student movements in California. With tensions from protests against the Vietnam War and calls for universities to invest in ethnic studies programs, the Asian American identity was born out of advocacy for multiethnic unity among the Asian diaspora. Historical photographs showcase the history of Asian American resistance movements from the 1960s to the 1980s, demonstrating the strength and resilience of the Asian American community among tenants, students, and laborers. For the next five years, Filipino and Mexican American workers continued to strike for economic justice for all farm workers. AdvertisementThe same year, Yuji Ichioka and Emma Gee, both graduate students and key organizers of the Asian American Political Alliance, coined the term "Asian American."

Persons: Delano, Cesar Chevez's Huelga, Julio Hernandez, Larry Itliong, Cesar Chavez, Gerald French, Chavez, Ted Streshinsky, Slava J, Garth Eliassen, Yuji Ichioka, Emma Gee, Dave Randolph, Sheriff Richard Hongisto, Terry Schmitt, Emil de Guzman, May Chen, Walter Leporati, Chol Soo Lee, Yip Yee Tak, Lee, John O'Hara, Chol, Lee's, Jerry Telfer, Vincent Chin, Vincent, Lily Chin, Detroit . Chin, Ronald Ebens, Michael Nitz, Ebens, Helen Zia, Victor Yang, Chin, Chin's Organizations: Liberation, Business, American, Agricultural Labor, Committee, Delano, Getty, Labor, National Farm Workers Association, United Farm Workers, Migratory Labor, National Farm Workers, University of California, University of California Regents, Black Student Union, UC Berkeley, Asian American Political Alliance, San Francisco State University, San Francisco Chronicle, San Francisco, . Police, Chinatown Community Development Center, Manilatown Heritage Foundation, Images Garment Worker, Ladies Garment Workers Union, International Ladies Garment Workers Union, San, Korean American Journalists Association, Asian, Lee Defense, Hall of Justice, The, American Citizens, Justice, Department of Justice, FBI Locations: California, Vietnam, Asia, San Francisco, Mexican, Bakersfield , California, Spanish, Washington, Delano, Sacramento, American, Berkeley, Berkeley , California, Africa, America, San, Los Angeles, Kearny, New York, Chinatown, Columbus, councilmen, San Quentin, Detroit ., Detroit

☆ ‘I’ll Be Strong for You.’ A Former Hostage Awaits Her Husband’s Release.
▼ + stars: | 2024-05-29 | by ( Nadav Gavrielov | ) www.nytimes.com time to read: +1 min

When Hamas released video last month of Keith Siegel, an American-Israeli hostage held in Gaza, it was the first sign in months that he was still alive. Ms. Siegel, 63, was held captive with her husband until late November, when she was one of 105 hostages released as part of a cease-fire deal. They were taken from their home at Kibbutz Kfar Azza on Oct. 7 during the Hamas-led attacks on Israel. Nearly eight months into the war, the families of hostages have grown increasingly alarmed. Mr. Siegel, who is 65, has a medical condition, and Israeli soldiers have recently recovered the remains of several hostages in Gaza.

Persons: Keith Siegel, Aviva Siegel, couldn’t, Ms, Siegel, António Guterres, Mr, ”, “ Organizations: United Nations, Kibbutz Kfar Locations: American, Gaza, New York, Kibbutz Kfar Azza, Israel, Qatar, Egypt, United States

☆ Some wealthy people trying to sell their luxury homes are struggling
▼ + stars: | 2024-05-28 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

Read previewThe world of luxury real estate might seem like a place where deals are plentiful, transactions are swift, and satisfaction is guaranteed. "I wanna be free to garden and travel and not have to worry about the house — but I'm not taking nothing," Morgan told Curbed. "A lot of luxury buyers may already have a primary home, so maybe they're looking for a new investment," StreetEasy Senior Economist Lee said. AdvertisementThat's partly why more luxury buyers are increasingly considering renting out their homes rather than selling them, he added. Concierge AuctionsLee noted another factor contributing to the difficulty of selling luxury properties: the high costs associated with their maintenance and upkeep.

Persons: —, Kenny Lee, Sonja Morgan, John Adams Morgan, Morgan Chase, Morgan, Curbed's Bridget Read, I'm, Michael Jordan, There's, Nile Niami, Richard Saghian, Ron DeSantis, Lee, canalso, It's Organizations: Service, Business, Housewives, New, Fashion, Florida Gov, Morgans, Yorker Locations: New York City, New York, Chicago, Los Angeles, Upper Eastside

According to a May Zumper report, the national median rent for a one-bedroom apartment is $1,487. The New York-Newark-Jersey City metro area saw the average rent for a one-bedroom apartment go from $1,991 in 2023 to $2,008 in 2024, an increase of only $17 or 0.9%. Connecticut has the most metro areas with the biggest rent increase for one-bedroom apartments — four out of the top five. This includes one statistical area that covers part of northeastern Connecticut and a swath of Massachusetts including Worcester. Connecticut is also the only state in the Northeast region to have multiple metro areas in the top 20.

Organizations: CNBC, Census, New York City Locations: United States, New York, Los Angeles, Newark, Jersey City, Connecticut, Massachusetts, Worcester . Connecticut, New York City, Boston, Providence , Rhode Island

☆ A sold-out tiny home community in Florida is expanding into rentals. Be ready to pay $1,350 a month for 320 square feet.
▼ + stars: | 2024-05-26 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Tiny-home builder Escape Homes runs a popular neighborhood of its units near Tampa, Florida. Escape is expanding its tiny home community with six fully furnished rentals, each for $1,350 a month. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIf you can't imagine living in a tiny home, Escape Homes could point you to about two dozen other people who would disagree. Along with manufacturing tiny houses, Escape operates a community of its own teeny dwellings near Tampa Bay, Florida.

Persons: —, they've Organizations: Escape Homes, Service Locations: Tampa , Florida, Tampa Bay , Florida

☆ Big Sky, Big Growth: How Montana’s Newcomers Are Shaping Its Senate Duel
▼ + stars: | 2024-05-26 | by ( Kellen Browning | Louise Johns | ) www.nytimes.com time to read: +1 min

Growing up in Bozeman, Mont., Dylan Heintz loved the picturesque views of the snow-capped mountains and the small-town charm. Things were cheap: His dad bought the family home for about $80,000. Drawn by Montana’s natural beauty and easy access to outdoor activities, the newcomers have created an affordability crisis and a local backlash that are transforming the state’s economy and politics. “I love this place, but it’s just a tough place to live in,” said Mr. Heintz, 28, an auto body repairman. “There are a lot of out-of-staters that have some money, and they’re willing to pay above asking price.

Persons: Dylan Heintz, Bozeman, “, ”, Heintz, Jon Tester, Tim Sheehy Organizations: Big Sky, Foods, Senate, Democratic, Navy SEAL, Republican Locations: Bozeman, Mont, Florida, —

☆ For Millennials, Living Alone Is Status Symbol Milestone
▼ + stars: | 2024-05-25 | by ( Juliana Kaplan | Rosalie Chan | ) www.businessinsider.com time to read: +14 min

That's helping establish a new millennial milestone for some: Ditching roommates, moving out from the family home, and landing on living alone. Business Insider's analysis of American Community Survey microdata from IPUMS found that 10.5% of millennials lived alone in 2022. Per BI's analysis of American Community Survey data via IPUMS, 16% of millennials lived with at least one parent as of 2022. (The data doesn't specify if that means they're living with their parents or if their parents are living with them.) Subsidized solo livingSome lower-earning millennials are able to get assistance reaching the solo-living milestone — but it's not always easy.

Persons: Jess Munday's, Jess Munday's San Francisco, Munday, " Munday, I'm, it's, IPUMS, millennials, Bella DePaulo, they've, DePaulo, she'd, Jess Munday, Dara Feller, Aria Velasquez, they're, " Velasquez, Velasquez, Erica Charles, she's, Charles, Rick Fry, Fry, She'd, She's, Clibborn, Sydney Krantz, He's, —, homeownership Chaz Zimmer, Chaz Zimmer, Adrianna Newell, Tomasz Piskorski, Piskorski, Zimmer hasn't, Zimmer, he's, James Paniagua, Paniagua, snagging, Julia Mazur, Kathy Pierre, Pierre Organizations: Business, American, Survey, Pew, BI Garak, BI, Subaru, Columbia Business School Locations: Jess Munday's San, Francisco's, San Francisco, Chicago, Washington ,, IPUMS, Florida, California, Waverly , New York, homeownership, Oakland , California, Los Angeles, Oakland, London, Austin, Charlotte , North Carolina, Charlotte

☆ JPMorgan is 'positive' on China stocks and 'constructive' on real estate as Beijing props up markets
▼ + stars: | 2024-05-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

JPMorgan is "positive" on China stocks and "constructive" on its real estate sector as the world's second-largest economy strives to prop up its equity and property markets. JPMorgan's view on China stocks is "tilted in the positive direction," said Wendy Liu, the firm's chief Asia and China equity strategist. Liu, who expects the index to hit 3,900 by the end of the year, said that China market was still "among the cheapest" in Asia Pacific. Mainland China's CSI300 was the third worst performing stock market in Asia, losing 11.38% last year. When asked about the Chinese real estate sector, Liu said it was at an "inflection point," and that JPMorgan was "constructive" on the sector.

Persons: Wendy Liu, Liu, they'll, CSI300, Hong, malpractices . Liu, Wu Qing, Wu, JPMorgan Organizations: JPMorgan, JPMorgan Global China, China Securities Regulatory Commission, People's Bank of China Locations: China, Asia, Jegarajah, Asia Pacific

☆ China Has a Plan for Its Housing Crisis. Here’s Why It’s Not Enough.
▼ + stars: | 2024-05-24 | by ( Alexandra Stevenson | ) www.nytimes.com time to read: 1 min

China has a housing problem. It has nearly four million apartments that no one wants to buy, a combined expanse of unwanted living space roughly the area of Philadelphia. The plan, announced last week, is the boldest move yet by Beijing to stop the tailspin of a housing crisis that threatens one of the world’s biggest economies. China has a bigger problem lurking behind all those empty apartments: even more homes that developers already sold but have not finished building. By one conservative estimate, that figure is around 10 million apartments.

Persons: Xi Jinping Locations: China, Philadelphia, Beijing

☆ Where Public Housing Apartments Can Go for More Than $1 Million
▼ + stars: | 2024-05-24 | by ( Sui-Lee Wee | Chang W. Lee | ) www.nytimes.com time to read: +1 min

Six decades ago, when Singapore was emerging as an independent nation, it was one of the poorest cities in Southeast Asia. Today, Singapore is a wealthy, modern city where roughly half of its 6 million people live in well-constructed high-rise apartments that were built by the government. These subsidized apartments are typically bright and airy, and defy most perceptions of public housing projects. As of early May, 54 of these apartments have sold for more than 1.35 million Singaporean dollars, or $1 million. While these million-dollar apartments represent a tiny fraction of all transactions, they have nonetheless captured the imaginations of many Singaporeans and amplified worries about the affordability of housing in one of the world’s most expensive cities.

Locations: Singapore, Southeast Asia

☆ The Architect Who Made Singapore’s Public Housing the Envy of the World
▼ + stars: | 2024-05-24 | by ( Sui-Lee Wee | Chang W. Lee | ) www.nytimes.com time to read: 1 min

The high-rise apartments — some with panoramic views of Singapore’s tropical cityscape — are airy, light-filled and spacious enough to comfortably raise a family. They are also public housing units, and for decades, were emphatically affordable, giving Singapore an enviable rate of homeownership. Now, however, at least a few of the apartments are being sold at a price that would have been unthinkable not long ago: more than $1 million. “I’m sad to see that — because public housing must equal affordability,” said Liu Thai Ker, the urban planner who gets much of the credit for creating the country’s widely lauded approach to housing its citizens.

Persons: ”, Liu Thai Ker Locations: Singapore

Search resuls for: "Apartments"

25 mentions found