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US housing groups to launch IPOs

Posted on 14 May 2013 by Laxman  |  Email |Print

A handful of companies that rent houses to single families are preparing to launch initial public offerings on the US stock market as their private equity and hedge fund owners take advantage of investor interest in the US housing recovery.
Colony American Homes, backed by investment firm Colony Capital, is expected to be among the largest in what is becoming a new area of the US publicly listed property sector………………………………………..Full Article: Source

Lawsuit seeks to halt Empire State Building IPO

Posted on 30 April 2013 by Laxman  |  Email |Print

Minority owners of New York’s Empire State Building want a state judge to block a proposal that would roll the skyscraper and 17 other Manhattan buildings into a common ownership group known as a real estate investment trust, or REIT.
The 82-year old Empire State was the tallest in the world from its opening until the completion of the World Trade Center in 1973. It has played a central part in numerous movies, including “King Kong,” “An Affair to Remember” and “Sleepless in Seattle.”……………………………………….Full Article: Source

IPD: Positive total return for Belgium property in 2012

Posted on 09 April 2013 by Laxman  |  Email |Print

The IPD Belgium Annual Property Index, released yesterday, showed that all sectors of Belgian investment property delivered a total return of 3.6% in 2012, a decrease compared with 4.6% in 2011. Inflation (CPI) was 2.1%. These results show that the property investment market is not safe from the macro-economic environment in Belgium.
Although the index showed lower performance this year against other major asset classes, with equities delivering the highest return at 38.6%, followed by property equities at 12.6% and bonds at 20.9% (JP Morgan 7-10 years); over a 5-year period, direct property still outperformed both equities and property equities………………………………………..Full Article: Source

China listed property firms’ 2012 profits jump 22pct

Posted on 28 March 2013 by Laxman  |  Email |Print

The combined net profits of 36 listed real estate companies to release complete financial reports was 29.9 billion yuan ($4.81 billion) in 2012, up 22% year on year.
Early last year, analysts and developers were conservative in their predictions for the year as housing curbs enacted by the government in January 2010 made it difficult to sell homes. Developers were also having a hard time buying plots of land due to inadequate cash flow………………………………………..Full Article: Source

China: Unintended consequence of property price curbs: more stock market speculation

Posted on 25 March 2013 by Laxman  |  Email |Print

Unsophisticated investors who once sought a quick profit on property speculation seem now to be turning to stock market speculation instead. The Hong Kong government has been keen to curb fast-rising property prices since late last year, but all its efforts may be creating a new problem: more speculation in the city’s stock market.
Some local stock brokers have noticed a new trend recently. They say more financially unsophisticated individual clients are calling on them for ideas for investments in the stock market. They prefer “small cap” stocks, rather than heavyweights, and aim to make quick short-term profits………………………………………..Full Article: Source

Real estate to underperform equity markets, ING IM warns

Posted on 28 February 2013 by Laxman  |  Email |Print

ING Investment Management says real estate is likely to underperform equity markets in the current environment of rising long-term rates. However, it says this doesn’t necessarily make the asset class unattractive and it remains overweight in it.
This is because it believes dividend yields remain attractive versus bond yields and are above those in equity markets. Also, from a historical perspective, it says a buffer of extra yield from listed real estate versus corporate bond yields has been built-up, thereby mitigating rising returns from the latter………………………………………..Full Article: Source

Housing: Play the rebound

Posted on 15 February 2013 by Laxman  |  Email |Print

Housing stocks, which not so long ago looked as likely to pay off as a $2 Powerball ticket, have become a hot commodity. Anticipating the real estate recovery that surfaced in the fall — home prices in October were up 6.3% from a year earlier, and new-home construction reached a four-year high — housing-related stocks led the market in 2012.
Homebuilders (returning 77% through early December), the lumber industry (74%), and home-improvement stores (55%) were the top-performing industries in 2012, according to Morningstar. And the Dow Jones U.S. Home Construction ETF traded in December at a lofty 27 times projected earnings — nearly double the figure for the S&P 500………………………………………..Full Article: Source

Polish property IPO builds interest

Posted on 14 February 2013 by Laxman  |  Email |Print

Poland’s real estate sector has been a little lacklustre in recent years, but that has not not dissuaded investors from taking a flyer on PHN, a government controlled property holding which had its IPO on the Warsaw Stock Exchange on Wednesday.
Shares were up by 7.4 per cent to 23.62 zlotys ($7.67) on the WSE, valuing the company at just over 1bn zlotys………………………………………..Full Article: Source

Global listed property outperforms global equities by 8.6pct

Posted on 12 February 2013 by Laxman  |  Email |Print

Due to investor appetite for yield and safe-haven sectors, global listed property had significantly outperformed most major asset classes during 2012, a research paper reveals. While fund performance has been impressive in an absolute sense, the Lonsec Global Property Securities Fund Sector Review rates the relative performance as somewhat disappointing.
The Lonsec report reveals that global property securities outperformed global equities by 8.6% over the year to November 2012, and by 8.7% annually over a three-year period………………………………………..Full Article: Source

U.S. housing recovery brings private builders to IPO market

Posted on 31 January 2013 by Laxman  |  Email |Print

Privately owned U.S. homebuilders are seizing on a housing supply crunch to tap the stock market as more Americans, buoyed by an improving economy, seek to buy their first home or move into bigger premises.
Tri Pointe Homes LLC and Taylor Morrison Home Corp, based in regions among those worst hit by a housing market slump, will soon become the first U.S. homebuilders in about 10 years to go public………………………………………..Full Article: Source

Dubai property price increases to continue in 2013: report

Posted on 29 January 2013 by Laxman  |  Email |Print

Stock-listed developers in Dubai jumped in value Sunday on a report released by property services company Asteco that prices in the villa and apartment segment would extend the positive momentum from last year into the first half of 2013.
According to the report, shares of the United Arab Emirates ( UAE) biggest developer Emaar Properties surged to a three-year high on Sunday, closing up 3.57 percent at 4.64 Dirham (1.26 U.S. dollars)………………………………………..Full Article: Source

U.S: Housing back in IPO fold

Posted on 07 January 2013 by Laxman  |  Email |Print

As the market for initial public offerings comes back to life after a holiday lull, deals from home builders are likely to be among the first out of the gate, with issuers trying to capitalize on an improving U.S. housing market.
Taylor Morrison Home Corp. and TRI Pointe Homes Inc., which filed plans for IPOs with the Securities and Exchange Commission last month, would be the first home-builder IPOs since late 2004, the housing boom’s salad days, according to Dealogic. The IPOs could come as soon as this month………………………………………..Full Article: Source

Wall Street foresees housing gains in 2013

Posted on 04 January 2013 by Laxman  |  Email |Print

There was so much excitement over Wednesday’s huge rally that it’s understandable that people missed the market’s renewed bet on housing. Homebuilding shares were higher. So were Home Depot, Lowe’s, Whirlpool and Stanley Black & Decker. The gains might have surprised investors figuring anything housing related might be ready for a fall.
The Philadelphia Housing Sector Index climbed 5.82 to 177.11 on Wednesday. The index, which tracks homebuilders, building materials companies and the like, soared 66.4% in 2012 and is up 218% from its bottom in March 2009……………………………………….Full Article: Source

Real estate property investment to launch on LSE

Posted on 14 December 2012 by Laxman  |  Email |Print

Starwood’s upcoming admission to the London Stock Exchange aims to help those investors looking to property investment for both a regular income and returns.
The investment objective of the new Starwood European Real Estate Finance company is to find and fund “compelling real estate opportunities” across Europe and to harvest returns from it, according to Jeffrey Dishner, president of Starwood Capital Europe………………………………………..Full Article: Source

Tide changes for manufactured housing

Posted on 13 December 2012 by Laxman  |  Email |Print

Shares of manufactured-housing companies were the big-ticket stocks for real-estate investors in recent years, faithfully posting double-digit annual returns. But now, some investors have soured on the sector.
Stocks of the biggest operators in the industry, Equity LifeStyle Properties Inc. and Sun Communities Inc., delivered negative total returns of about 2.4% and nearly 14%, respectively, in the past three months. That is a significant reversal from the past two years: Equity Lifestyle returned 22% in 2011 and 13% in 2010, while Sun Communities returned 20% last year and 86% in 2010, handily beating overall stock-market gains………………………………………..Full Article: Source

European listed property 1.7pct higher in November: GPR

Posted on 07 December 2012 by Laxman  |  Email |Print

European listed real estate - as represented by the GPR 250 Europe Index - closed 1.7% higher in November 2012, with only slight negative returns reported in Switzerland (-0.6%) and Turkey (-1.3%).
The returns, expressed in euros, for the individual country indices was as follows:- Israel 6.6%, Austria 5.5%, Poland 5.2%……………………………………….Full Article: Source

Asian REITs a better bet than stocks, says report

Posted on 21 November 2012 by Laxman  |  Email |Print

Asian real estate investment trusts (reits) should be an essential component in a retail investor’s portfolio, says a report by the Asia Pacific Real Estate Association (APREA).
The region’s reits provide investors with a liquid and high-quality real estate investment opportunity to access the dynamics of the Asian real estate markets in listed real estate investment products, the report noted……………………………………….Full Article: Source

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China: Property developers turn to HK for IPO

Posted on 08 November 2012 by Laxman  |  Email |Print

Tight regulation on mainland force firms to look elsewhere for capital. Mainland developers raised more than 10 billion yuan ($1.6 billion) in the overseas market in October and at least five of them are seeking to use initial public offerings to raise more than $2 billion and be listed on the Hong Kong Stock Exchange by the end of 2012.
The China Securities Regulatory Commission, as part of the government’s effort to cool the overheated property market, has not approved a property developer’s plan for a listing on the Chinese mainland’s A-share market since 2007………………………………………..Full Article: Source

Global property equity funds bounce back says S&P Capital research

Posted on 07 November 2012 by Laxman  |  Email |Print

Global property equity funds saw a sharp rebound in the first half of 2012, says S&P Capital IQ Fund Research in its latest sector trends paper. The peer-group median fund was up 12.6% in the first half of the year, in contrast to a 7.8% decline in 2011 and a fall of 10.5% in 2010.
Global real estate indices notched up positive returns in both the first and second quarters of the year, one of the few major sectors to do so. The resilience in the second quarter was principally propelled by developed Asia and especially China………………………………………..Full Article: Source

German real estate group LEG plans IPO - sources

Posted on 23 October 2012 by Laxman  |  Email |Print

German real estate group LEG is considering an initial public offering of shares in the coming months that could value the company at close to 5 billion euros ($6.54 billion), two people familiar with the situation told Reuters on Monday.
“Depending on the market climate, the second quarter of 2013 is certainly doable,” one source said, adding that banks would be selected for a stock exchange listing by the end of this year. Another said that an IPO first required a deal on refinancing the company’s debt………………………………………..Full Article: Source

Sentiment improves across Europe’s listed sector: LaSalle

Posted on 17 October 2012 by Laxman  |  Email |Print

The FTSE EPRA/NAREIT Europe index gained +5.8% in the third quarter of 2012, outperforming bonds (+3.8%) and utilities (+1.2%) while slightly under-performing European equities (+5.9%), according to LaSalle Investment Management Securities.
Europe outperformed the global property universe (+4.1%) in the quarter. Within Europe, companies on the Continent (+5.1%) underperformed the UK (+7.1% in euro terms). ……………………………………….Full Article: Source

Housing IPO draws strong demand

Posted on 12 October 2012 by Laxman  |  Email |Print

Investors are making a bold gamble that the housing rebound will be steep and swift with the initial public offering of Realogy. Realogy, which owns Century 21, Coldwell Banker, Corcoran and Sotheby’s International Realty, raised more than $1 billion through its initial public offering that priced Wednesday night at $27 a share — the high end of its estimated range. It’s the third-largest IPO of the year behind Facebook (FB) and Banco Santander’s Mexican subsidiary (BSMX).
Shares of Realogy (RLGY) began trading on the New York Stock Exchange Thursday morning, and quickly surged 29% above its IPO price………………………………………..Full Article: Source

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Listed investment into European property slows in Q3

Posted on 24 September 2012 by Laxman  |  Email |Print

Investment by the listed sector into European real estate has slowed significantly compared to the first half of 2012. Listed companies contributed EUR 2.5 bn of the total of EUR 15 bn of publicised real estate transactions in Europe tracked by PropertyEU Research in the period from 1 July to mid-September.
Our data indicates listed companies were on the buy-side of EUR 3.5 bn of transaction in the first quarter of 2012, and EUR 5.3 bn from April to end-June………………………………………..Full Article: Source

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Chinese developers start tapping equity markets

Posted on 20 September 2012 by Laxman  |  Email |Print

The fundraising window for Chinese developers is opening even more. After a series of high-yield bond issuances by developers last week which were well-received by investors, a Hong Kong-listed real estate firm Wednesday moved to tap the stockmarkets for funds.
Chinese property firms have been struggling with slowing sales and tight credit in the past year, but Wednesday Longfor Properties Co. Ltd raised HK$3.09 billion ($399 million) from placing shares at a 7.9% discount to their close Tuesday………………………………………..Full Article: Source

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How to make money in stocks from the real estate rebound

Posted on 13 September 2012 by Laxman  |  Email |Print

If you are a homeowner and watched the value of your home decline 20% or more, it is only natural to hesitate these days when hearing the words “housing” and “investment” in the same sentence.
The dynamics of the real estate market are changing, though, and several homebuilders, home improvement retailers, and construction materials companies have regained much of the value that evaporated since housing prices peaked in 2007………………………………………..Full Article: Source

India, China retail real estate stock to grow 15pct per year until 2020: Jones Lang LaSalle

Posted on 13 September 2012 by Laxman  |  Email |Print

India and China are leading the list of top 20 destinations with the strongest retail real estate momentum with shopping centre stocks here projected to grow by around 15% per year until 2020. However, India falls short of China due to weaker real estate investment momentum and a smaller international retailer presence, international property consultant Jones Lang LaSalle said in a report.
Despite fundamentals of Indian market are firmly in place, the regulations have made both the entry and exit options extremely limited. The lack of clarity around potential exit options also means that major foreign developers are hesitant to enter the market, the report said………………………………………..Full Article: Source

Real estate lead losers on China markets

Posted on 03 August 2012 by Laxman  |  Email |Print

The Shanghai Composite Index retreated 0.52 percent, or 11.05 points, to close at 2,112.31 points today on transaction value of 41.78 billion yuan. The Shenzhen Component Index inched down 170.35 points, or 1.86 percent, to close at 8,995.62 points on transaction value of 45.45 billion yuan.
Both bourses opened slight lower and there was a large selloff in the final hour morning trading, led by the real estate sector on fears that China may introduce more measures to curb the real estate market………………………………………..Full Article: Source

Australia: Market for unlisted property sector softens as returns fall

Posted on 26 July 2012 by Laxman  |  Email |Print

The sluggish performance of the property market has been reflected in falling returns for unlisted retail property funds.
The after-fees return for unlisted funds, whose investors are mostly mums and dads, was 7.5 per cent across the property sectors for the year to June 30, down from 8.2 per cent the previous financial year, according to the Property Council/IPD index for unlisted retail property funds. Income distributions accounted for 8 per cent while capital growth fell 0.5 per cent………………………………………..Full Article: Source

Investors downshift on real-estate stocks

Posted on 03 July 2012 by Laxman  |  Email |Print

Real-estate stocks that were hot at the start of the year lost some steam during the spring, an indication of growing volatility in property stocks.
The Dow Jones All REIT Equity Index, which tracks the stocks of 133 real-estate investment trusts, delivered a total return of 4% in the second quarter. That was down sharply from a total return of 10.5% in the first quarter and 15% in the fourth quarter of last year………………………………………..Full Article: Source

Indonesia property market in its prime: Developer

Posted on 27 June 2012 by Laxman  |  Email |Print

Indonesian property stocks have fallen 18 percent this year from their peaks, but one of the country’s biggest property developers, Lippo Karawaci says the real estate sector is in its prime.
The CEO of the company’s shopping malls division, Michael Riady, told CNBC’s “Cash Flow” on Tuesday that “If you look everywhere there are shopping malls, condos, hotels, all sub sectors are performing really well right now. I think the Indonesian real estate sector today is at a prime time.”……………………………………….Full Article: Source

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China: Property developers pledge shares to borrow funds

Posted on 26 June 2012 by Laxman  |  Email |Print

Listed property developers have pledged 11.6 billion of their own shares to borrow funds, as persistent tightening measures cut them off from other sources of financing.
Fifty-eight A-share developers have each pledged an average of 132 million shares as of June 21, website China.com.cn reported………………………………………..Full Article: Source

Chinese property developer Evergrande slumps after website claims fraud

Posted on 22 June 2012 by Laxman  |  Email |Print

Evergrande Real Estate Group, one of China’s largest listed property stocks, took a pounding Thursday in Hong Kong.
A massive sell-off came mid-morning after Citron Research, a website that bills itself as an independent research outfit, issued a report claiming massive fraud and imminent insolvency at Evergrande. Shares in the Guangzhou-based company fell by nearly one-fifth before recovering to end the day at HK$3.97, down 11.4%………………………………………..Full Article: Source

EU plans to boost growth and slash energy use should prioritize listed property

Posted on 12 June 2012 by Laxman  |  Email |Print

According to Eurostat data, real estate provides the second largest untapped cost-effective potential for energy savings among economic sectors in Europe – estimated at 65 million tonnes of oil equivalent (Mtoe), or roughly the equivalent of half the entire annual energy consumption of Italy.
EU research calculates that the costs of achieving the EU’s energy efficiency targets in European real estate would be €587 billion between 2011-2020, or €60 billion a year………………………………………..Full Article: Source

Real-estate related stocks still have “for sale” sign

Posted on 08 June 2012 by Laxman  |  Email |Print

The real-estate investment trust sector has suffered a significant loss of momentum. The correction appears to have been driven by the broader market, as opposed to something specific to the REIT sector.
Nevertheless, there appears to be additional downside risk for the DJ Real Estate iShares because they penetrated support near $60 at the same time the weekly moving average convergence/divergence (MACD) indicator flipped to a “sell” signal………………………………………..Full Article: Source

European weighting in GPR global index plunges

Posted on 31 May 2012 by Laxman  |  Email |Print

The cumulative weight of European property stocks in the global listed property sector - as represented in the GPR 250 Index - has plunged to 14% from 21% in the past four years, according to Global Property Research.
From 1 January 2008 to 31 December 2011, the number of European stocks included in the GPR 250 Index fell to 54 from 70. This decrease is largely due to the exclusion of less liquid stocks, GPR said………………………………………..Full Article: Source

Forget property, buy developers’ shares

Posted on 28 May 2012 by Laxman  |  Email |Print

Developers’ stocks are better investments than property, says Henderson Land Development chairman “Uncle Four” Lee Shau-kee - adding that some could double in value in the medium term.
Lee - dubbed Asia’s Warren Buffett - cited a query by a friend. “She asked me whether she should buy a home with HK$10 million her boyfriend gave her,” he said. “She may enjoy a capital gain of 20 or 30 percent in two or three years. But she could make an even better return in stock investment by getting margin financing, as then her capital could rise to HK$40 million………………………………………..Full Article: Source

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Analysts warm to Singapore property stocks

Posted on 21 May 2012 by Laxman  |  Email |Print

While some see Singapore’s property market as too hot to handle, several analysts argue there’s still money to be made for the long-sighted equity investor.
For the past three years, the government has taken steps to cool the overheated property market, most recently boosting stamp duty on foreign buyers as the land-strapped island nation fights to fend off investment demand………………………………………..Full Article: Source

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Property shares decline after home prices slump

Posted on 19 April 2012 by Laxman  |  Email |Print

SouFun Holdings Ltd. led Chinese property stocks lower in New York trading after home prices in the nation tumbled, raising concerns the world’s second-largest economy will slow further.
SouFun, owner of China’s largest real estate website, fell from the highest level in two weeks. Property agency services E- House China Holdings Ltd. dropped for the third time in four days. The Bloomberg China-US Equity Index of the most traded Chinese shares in the U.S. was little changed at 102.76. Casino operator Melco Crown Entertainment Ltd. climbed to the highest level in eight months………………………………………..Full Article: Source

US listed market points way for specialist real estate

Posted on 02 April 2012 by Laxman  |  Email |Print

Institutional investors can play a key role in bringing new niche real estate markets such as senior housing, healthcare and education to maturity, according to Maarten Vermeulen, Director Europe at Composition Capital Partners.
Strong demographic trends in the healthcare and student housing markets made these segments particularly attractive, he noted………………………………………..Full Article: Source

Outlook for real estate stocks

Posted on 30 March 2012 by Laxman  |  Email |Print

In their search for a sustainable yield, investors have bid up real estate stocks. Lured by sustainable cash yields and a slowly improving U.S. economic picture, investors bid up real estate stocks across industries, giving brief pause when eurozone concerns came to a head.
As capital market stability returned toward the end of the quarter, it appears that real estate stocks, in aggregate will likely finish at a slight premium, in aggregate, to our estimate of fair value………………………………………..Full Article: Source

Malaysia builders trailing most since 2007 lure CLSA on $16 bln plan

Posted on 08 March 2012 by Laxman  |  Email |Print

Malaysian construction stocks are trailing regional peers by the most since 2007, a buy signal to CLSA Ltd. and Manulife Asset Management as the government’s $16 billion building plan sends profit estimates to a record.
While the Bursa Malaysia Construction Index (KLCON) climbed 6.7 percent this year through February, the gauge lagged behind the Bloomberg Asia Pacific Engineering & Construction Index by 12 percentage points, the most for any two-month period since October 2007………………………………………..Full Article: Source

US: 10 stocks that show the real estate boom has arrived

Posted on 07 March 2012 by Laxman  |  Email |Print

The U.S. real estate market is in two worlds, with residential housing in the dumps and not yet worthy of consideration for investing. But commercial real estate, in the form of real estate investment trusts (REITs), is prospering.
For example, demand for rental apartments is booming because an uptick in employment has people relocating to areas with job opportunities. While at the same time, home ownership is at 12-year lows and not seen growing significantly anytime soon, and that boosts the earnings outlook for apartment-owning REITs………………………………………..Full Article: Source

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Tesco Fund IPO raises $602 mln

Posted on 05 March 2012 by Laxman  |  Email |Print

The Tesco Lotus property fund priced its initial public offering at the top end of the price range in Thailand to raise $602 million, making it the country’s largest listing since 2006.
The company, a unit of U.K.-headquartered retailer Tesco PLC, priced its IPO at 10.40 baht (34 U.S. cents) per unit on Saturday, representing a yield of 6.5%, according to people familiar with the deal. The price range for the IPO had been set at 9.65 baht to 10.40 baht. The fund’s shares will start trading in Bangkok in mid-March………………………………………..Full Article: Source

IPD: UK values continue to slide in January

Posted on 17 February 2012 by Laxman  |  Email |Print

Capital values fell by another -0.2% in January as the New Year brought little good news for the UK property market. Total return fell to 0.4%, its lowest since June 2009, according to the IPD UK Monthly Index.
Phil Tily, Managing Director of the UK and Ireland, explained, “Rental values fell back into decline in January, albeit slightly, and they have now been negative for three out of the last four months. Yields saw slight expansion, but fragile occupier demand remains the main driver behind falling capital values.”……………………………………….Full Article: Source

Empire State Building owners file $1 bln IPO, REIT plan

Posted on 14 February 2012 by Laxman  |  Email |Print

The company that controls the Empire State Building plans to raise as much as $1 billion in an initial public offering, giving investors the opportunity to own a piece of the landmark 102-story Manhattan skyscraper.
Empire State Realty Trust Inc. plans to become a real estate investment trust and list shares on the New York Stock Exchange under the ticker symbol “ESB,” the company said in a U.S. Securities and Exchange Commission filing today………………………………………..Full Article: Source

China property shares fall after policy reversal

Posted on 14 February 2012 by Laxman  |  Email |Print

China’s property shares fell sharply Monday after Wuhu, an eastern Chinese city, reversed over the weekend an earlier decision to relax housing curbs, an abrupt move that signaled Beijing’s determination to keep up the pressure on the overheated sector.
The latest development suggests Beijing has zero tolerance for local governments attempting to bypass national property tightening moves, and that a further price correction is in the offing, analysts said………………………………………..Full Article: Source

Europe listed sector forecast to remain flat in 2012

Posted on 26 January 2012 by Laxman  |  Email |Print

The European listed property sector is expected to continue to trade at a ‘wide discount’ to Net Asset Value this year after having lost as much as 10% over 2011.
‘Real estate is perceived as being part of the financial industry and as such it very much depends on the banking sector and the availability of credit. That’s why stocks continue to underperform,’ said Céline Donnet, an analyst with financial group Petercam in Brussels………………………………………..Full Article: Source

UK: Unlisted property outperforms equities, but lags direct commercial

Posted on 24 January 2012 by Laxman  |  Email |Print

Worsening economic conditions in 2011 enabled unlisted property funds in the UK to outperform equities and property REITs, but their performance remained sluggish compared with direct commercial property, according to a study by IPD.
IPD found that pooled property funds delivered 1.2% in the fourth quarter of 2011, as returns continued to slow, producing an annual return of 7.1%, while direct commercial property returned 8.1%………………………………………..Full Article: Source

UK property heads told to buy back shares to lower gearing

Posted on 19 January 2012 by Laxman  |  Email |Print

Property companies and listed REITs in particular should cut their gearing and buy back their stock, according to John Lutzius, Managing Director of Green Street Advisors.
Speaking at the annual EPRA and Nabarro Insight event in London on Tuesday, Lutzius fuelled the debate by concluding that leverage across the industry was still too high and that listed REITS especially had been ‘too aggressive on development’. He recommended a level of around 30% and even as low as 20%………………………………………..Full Article: Source

Europe listed sector posts 10pct loss in 2011: GPR

Posted on 04 January 2012 by Laxman  |  Email |Print

The European listed property sector reported a loss of up to 10.4% in 2011, with December closing 0.7% lower than the previous month, according to the GPR 250 Europe Index.
The result for Europe compares to a return of 13.8% posted by GPR 250 Americas and a loss of 19.3% by GPR 250 Asia………………………………………..Full Article: Source

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