Chicago land prices for the best downtown residential sites are recovering, though rental developers have replaced condo developers as buyers, said Ron DeVries of Appraisal Research Counselors.

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Meanwhile, U.S. shareholders in listed U.K. residential companies are set to benefit from the rental boom.

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In the first quarter, the rate of rental-revenue growth at Equity Residential and AvalonBay slowed compared with previous quarters.

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It also applies to community pools associated with private residential communities if the pool is made available to the public for rental or use.

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So now a steady stream of rental income underpins a growing property-development business, especially residential.

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Extell Development Co. earlier this month filed plans with the city for a 600-unit rental building at West 41st Street and 10th Avenue, betting on the burgeoning residential area west of Midtown Manhattan.

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He maintained a negative investment rating on Singapore's developers and the residential property sector, citing a large supply of unsold apartments, rising vacancies in the rental market and the continued risk of more government intervention.

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The buyers get a stake in the rental income and potential sale of one or more commercial, retail or residential properties.

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