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Investors to allocate $51.1 billion to Florida real estate in 2018
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In the City of Vancouver, a single-detached home owned by a resident was worth $2,882,600 on average, while one owned by a non-resident was worth $3,638,500 — about 26 per cent more.

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Wealth Exchange News: Singapore Startup Raises $618 Million to Expand Datacenters
Goldman Sachs-backed AirTrunk has raised A$850 million ($618 million) to fund the expansion of its two Australian datacenters and a move into Asia to take advantage of a growing cloud computing market.

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Foreign home buyers scooped up a record number of residential properties in the United States in the last year, despite a rising dollar and political uncertainty, according to a survey released Tuesday.

The National Assn. of Realtors said foreigners bought 284,455 properties in the 12 months that ended March 31, about a third more than a year earlier. Dollar volume surged nearly 50% to $153 billion, also a record for the survey first taken in 2009.

Chinese nationals were the biggest buyers, purchasing $31.7 billion worth of property, up from $27.3 billion a year earlier and more than ever before, the Realtors said.

But the largest increase came from a surge in buyers from Canada, where prices have skyrocketed in recent years, partially due to Chinese investment there.

Canadians purchased $19 billion worth of residential property, compared with $8.9 billion in the 12 months ended March 2016, the Realtors said in their annual report on international investment.

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Demand Is Outpacing Supply for New Homes in Central Florida
Over the past year, the Orlando metro area has been the 10th most active market for new-construction home sales in the entire country, according to a recently released report from CoreLogic. The report adds that 15 percent of the area’s total home sales are newly built homes. While the increase in development in Central Florida means more options for home buyers, there are a number of downsides to the current state of the market. In addition to rising prices, it’s easier than ever to miss great opportunities, and competition for new-construction homes in desirable communities is fiercer than ever.

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Best hotel deals in New York
From the designer flagship stores of Manhattan including Louis Vuitton, DKNY and Prada, to the flea markets and thrift stores of Brooklyn, New York is a shopper’s paradise. If you saved on a cheap New York hotel, this is the city to indulge in some retail therapy. Two of our favourite places are the world famous Bloomingdale’s department store in hip Soho, and the long-running Century 21 opposite the World Trade Centre site. Read more

The World's Biggest AI Startup Raises $1.2 Billion in Mere Months (Wealth Post Vancouver)

SenseTime Group has raised $620 million at a valuation of more than $4.5 billion just months after scoring a similar amount from investors led by Alibaba (baba, +0.23%) and Singapore’s state investment firm.

Investors are handing billions of dollars to Chinese artificial intelligence startups, hoping to ride a wave of support from a government intent on becoming the world leader in the technology by 2030. But the growing hype is encouraging everything from video services to language schools to claim AI as integral to their business to win funding. Some investors warn the sector could experience a downturn towards the end of this year if those companies fail to deliver revenue growth.

SenseTime specializes in systems that analyze faces and images on an enormous scale and works with policing bodies across China. The startup said it experienced 400% growth in each of the past three years as it encompassed more industries. Business contract revenue is up more than 10-fold so far this year, according to its statement.

China’s Youngest Female Billionaire Selling Sydney Pad for A$18 Million (Wealth Post Vancouver)

Zetian Zhang, known as “Milk Tea Sister,” bought the three-story penthouse in 2015
A Chinese internet sensation who became one of the country’s youngest billionaires is selling her three-story penthouse in Sydney for $18 million (US$13.565 million).

Zetian Zhang, 24, found sudden celebrity status as the "Milk Tea Sister" after an image of her in high school holding a tea drink went viral. She went on to marry one of China’s richest men, Qiangdong "Richard" Liu, the founder of Chinese e-commerce behemoth, JD.com. Forbes estimates Mr. Liu is worth US$10.1 billion.

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Saturday, September 1, 2018

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