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Real Estate Briefing 15.May 2013

Posted on 15 May 2013 by Laxman |  Email |Print

Canadian home prices rose in April from March as three strong cities in Western Canada more than offset weak showings elsewhere, while the annual gain in prices slowed, the Teranet-National Bank Composite House Price Index showed on Tuesday.
The index, which measures price changes for repeat sales of single-family homes, showed overall prices rose 0.2% in April from a month earlier, but the weakest April gain in 15 years except for the 2009 recession. The index was up 2.0% from a year earlier, the smallest 12-month gain since November 2009……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

Finance Minister Jim Flaherty is dismissing fears about Canada’s housing market, saying the current slowdown is welcome news and that there is no need for further government intervention.
While some observers are expressing fears that a steep correction is underway that will bring down housing values and possibly affect bank credit ratings, Flaherty said Tuesday that he believes government mortgage tightening last July actually helped avert what could have turned into a housing bubble……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

New statistics on the real estate market show home prices have risen by about 9% over the past year. Does this mean that real estate is back? On April 30, the Standard & Poors/Case-Shiller Home Price Indices release showed that a composite of real estate prices in 20 major metropolitan markets had increased by 9.3% over the past year, the best annual gain since May 2006.
Does that mean the housing market is back to the heady days of the real estate boom? A quick reality check shows that not to be the case — which may be good news for would-be home buyers……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

Home prices today are rising nearly as fast as they did during the peak bubble years of 2005 and 2006. Since that bubble helped push us into the Great Recession, we should all be on high alert for the next housing bubble.
To track whether home prices are in or nearing bubble territory, today we introduce Trulia’s Bubble Watch, which is based on the most recent price data from the Trulia Price Monitor and other data sources. So are we in bubble territory? No. bubble-phobes can rest easy. Even with recent sharp home price increases, prices are still low relative to fundamentals and are far below bubble levels……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

The post-recession recovery of the UK housing market revival is in full swing, an industry survey has shown. New buying inquiries soared last month and home prices continued to rise as property investment sentiment benefitted from government initiatives that give potential buyers greater access to mortgages.
The Royal Institution of Chartered Surveyors (RICS) said on Tuesday, May 14 that the combination of the government-backed Funding for Lending and Help to Buy schemes was the reason for a strong pick-up in demand for residential property that was not yet being matched by an increase in the supply of homes…………………………………..Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

Demand for property rose to its highest level in over three years during April, as the government’s ‘Help to Buy’ scheme began to make an impact on the UK’s housing market, the latest residential market survey from the Royal Institution of Chartered Surveyors has revealed.
Last month, new buyer enquiries rose to their highest level in over three years, with 25 per cent more chartered surveyors reporting demand for property rose rather than fell……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

Boosting the housing market to provide a feelgood factor is unlikely to work in the long term – and an economic study from Denmark suggests it won’t work in the short term either.
George Osborne was adamant when he became chancellor of the exchequer three years ago that Britain’s economic model had to change. Out would go an over-reliance on public and private debt, in would come the “march of the makers”……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

British Land is looking to exit its £255m retail property business in mainland Europe after their assets lost almost a fifth of their value on the back of the economic crisis in Spain and Portugal.
British Land said its mainland European properties, which account for 2.4pc of its £10.5bn portfolio, fell 17pc in value in the year to the end of March, hit by rental concessions and widening yields……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

First quarter 2013 results for German institutional property funds and German retail property funds stood at 0.3% and 0.0% respectively. In both groups of funds, those vehicles invested in Germany substantially outperformed European-targeted funds.
Daniel Piazolo, Managing Director of IPD, said, “We now receive data at least quarterly for 152 German funds with a Net Asset Value of EUR 105 bn. We are therefore in a position to provide crucial insights into the performance of all real estate funds subject to German investment law”……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

The period from January to the end of April of 2013 in Poland came in strong with an investment volume of €748 million. So far, the office sector has the largest share 2013 transactions (€424 million), followed by industrial (€184 million) and retail (€126 million), with the hotel sector rounding things off with €14 million.
In terms of the number of transactions, 2013 outpaced the same period in 2012 with 70% more transactions (17 deals in 2013 versus 10 closed in the corresponding period last year)……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

Moscow is one of the world’s most expensive cities. It can vary a bit depending on who’s doing the ranking, but for the past several years Moscow usually comes in 3rd place after Tokyo, Japan and Luanda, Angola. It’s true that some of Moscow’s most ridiculously priced items are not housing-related, and it’s equally true that the Moscow real estate market is hardly the world’s most liquid or liberal, but housing in Moscow, as any expat can attest, is very, very expensive.
Prices for apartments in Moscow are broadly comparable to London and New York, famously expensive cities which, of course, are both located in countries that are much wealthier than Russia……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

Actual demand for housing in the Kingdom is huge and the supply doesn’t meet the demand. “Saudi Arabia is a major player in the region both in political and economical terms; today the government is spending billions of dollars in infrastructure development, which is why we are noticing a new hub for infrastructure development in the region,” says Hossam Al-Rashoud, CEO of Maskan Arabia.
In an exclusive interview with Diana Al-Jassem of Arab News, Al-Rashoud confirmed that Maskan will be targeting the major cities and the secondary cities in the Kingdom in the coming few years……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

The residential property market in Doha appears to be stable and may see steady growth both in outright sales and rentals in the upcoming quarters, according to Al Asmakh Real Estate report.
Qatar’s population was at 1.92mn as of March 31, 2013 with year-on-year growth of 8.5%, which may realise higher demand for new housing units, especially from expatriate population. Doha and Al Rayyan municipalities remain as main hub for new supply, it said in its first quarter report……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

Leasing activity in Asia Pacific’s Tier 1 office markets remained generally subdued in the first quarter of 2013, according to real estate advisory firm Jones Lang LaSalle, in its latest Asia Pacific Office Index.
Whilst take-up of grade A office space contracted in Singapore, Hong Kong, Australian cities and Beijing, it was steady in Japan, South Korea and emerging Southeast Asia; strong demand in Manila and Jakarta was actually constrained by a lack of available space……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

Investment rises 21.1% in past four months, sales value eases to 59.8%. China’s real estate investment growth quickened in the first four months of the year, but property sales growth dipped slightly due to the government’s latest round of policy tightening.
Property in-vestment, which affects more than 40 industries ranging from steel to furniture, increased 21.1 percent year-on-year from January to April, up 0.9 percentage points on the first quarter, the National Bureau of Statistics said on Monday……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

A growing number of Hong Kong property investors are shifting their investment focus offshore - prompting local brokers to widen their sales’ lists in order to capture commissions on deals taking place overseas.
“There has definitely been a pick-up in buyer interest in overseas properties in recent months. Inquiries for international residential properties are up by 10 per cent since the government announced its latest control measures on the market in February,” said Denis Ma On-ping, local director of the Greater Pearl River Delta Research at agency Jones Lang LaSalle……………………………………Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

A flood of new homes is headed toward Singapore and it will carry with it a buyer’s market, analysts say. Developers in Singapore are already offering discounts and freebies such as furniture vouchers and will probably give away more expensive “toys”–maybe even cars–as new properties begin hitting the market in force, says Chris Comer, CEO of Castlewood Group, developer of Nikki Beach properties in Asia.
Comer is a Singapore resident with global experience, including in Dubai, where he worked during the boom and bust of the past decade. He said the downturn could hit Singapore within the next 12 months, and “you’ll start to see properties resold for less than they paid for them” as investors try to cash out, he said…………………………………..Full Article: Source

Posted on 15 May 2013 by Laxman |  Email |Print

New Zealand housing is already overvalued by about 25 percent and if it continues to rise may force the Reserve Bank to hike interest rates, according to the International Monetary Fund.
Property in New Zealand has become less affordable in the past two decades with the median house price at about four times income, some 20 percent higher than the average of the past 30 years, it said……………………………………Full Article: Source

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