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Real estate development in Moscow! What will those crazy Russians think of next?

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

Consolidation in China’s property sector appears underway

Posted on 10 May 2013 by Laxman  |  Email |Print

A long time coming, consolidation in China’s property sector seems to finally be starting. State-owned Greenland Holding Group Co. late Wednesday said it bought a 60% stake in luxury property developer SPG Land Holdings Ltd. for US$389 million, the largest-ever acquisition of a controlling stake in a Hong Kong-listed Chinese real estate developer by value.
Policy tightening in China’s once booming property market has given well-funded real estate companies a leg up–they have the opportunity to buy out struggling developers or projects and in some cases, pick up prized assets along the way………………………………….Full Article: Source

UK: Does the government actually want any new homes built?

Posted on 08 May 2013 by Laxman  |  Email |Print

With a limp-wristed tearing of the reams of planning law and a hit-and-hope punt at helping the consumer mortgage market - does the government actually want any new homes to be built?
Housing demand means we need to build about 250,000 new homes a year just to keep up. In 2012, not even 100,000 housing starts were made. This is one of the reasons the UK’s housing costs are the third highest in Europe as families’ earnings are drained just on shelter………………………………………..Full Article: Source

China property developers seek US growth

Posted on 08 May 2013 by Laxman  |  Email |Print

The two-acre site at 421 Kent Avenue in Williamsburg, Brooklyn, is nothing more than concrete rubble and rusted steel rods – remnants of a previous property project gone wrong.
But if Xinyuan Real Estate has its way, a gleaming 216-unit upmarket condominium building will soon take its place. This would make Xinyuan probably the first listed Chinese company to build a significant residential development in the US, according to Dan Fasulo, managing director at Real Capital Analytics………………………………………..Full Article: Source

CEE-based developer says market has ‘probably exceeded expectations’

Posted on 23 April 2013 by Laxman  |  Email |Print

Warsaw was a grey and cold place in the winter of 1992. The air stank from factories still spewing out smoke near the centre of the Polish capital, and memories of Soviet occupation, which had ended only three years earlier, were still fresh. But it was a place with enormous possibilities for those willing to take a chance.
That was what brought 29-year-old Brian Patterson to the city after deciding to decamp from California, where the recession was casting a pall over the property industry………………………………………..Full Article: Source

CBRE: Global shopping center development grows 15pct in 2013

Posted on 19 April 2013 by Laxman  |  Email |Print

An unprecedented 32 million m² of shopping center space is currently under construction across the world, representing a 15% increase year-on-year (28 million m² in 2012), according to the latest research from global property advisor CBRE.
Shopping center development activity is heavily concentrated in emerging markets, with China home to more than half of all the space under construction (16.8 million m²). Seven of the 10 most active development markets globally are in China. These include Chengdu (2.9 million m²) and Tianjin (2.1 million m²), with Shenyang, Chongqing, Wuhan, Guangzhou and Hangzhou due to deliver over one million m² over the next three years………………………………………Full Article: Source

Dubai property market rebounds

Posted on 17 April 2013 by Laxman  |  Email |Print

A market report finds that an estimated 40,000 new homes will be available for buyers in Dubai over the next two years. Published by consultants Jones Lang LaSalle, the report shows that a number of new properties will be developed between 2013 and 2015, which would account for 11 percent of the 357,000 units envisaged by developers.
Those figures suggest that the emirate’s real estate market has made a strong comeback as developers start to revive projects that were abandoned in the aftermath of global financial crisis. After reaching its peak in 2008, property prices fell by as much as 50 percent as investors quickly retreated from the scene……………………………………Full Article: Source

Hong Kong developers halt sales while brochures rewritten for new rules

Posted on 17 April 2013 by Laxman  |  Email |Print

Developers will suspend sales of unsold flats at more than 30 new residential projects next week to comply with a new law requiring them to specify the size of flats in all their marketing material as well as provide additional information on the developments.
Under the new law governing sales of new homes due to take effect on April 29, developers are required to provide comprehensive information on their projects, including the “saleable floor area”, a detailed location plan of the development, and the name of every street that is situated within 250 metres of the boundary of the project……………………………………Full Article: Source

US: Home-builder confidence lowest in six months

Posted on 16 April 2013 by Laxman  |  Email |Print

A gauge of confidence among home builders fell in April — a third straight monthly decline — indicating demand concerns despite a strengthening market, according to data released Monday.
The overall index for confidence among home builders decreased to 42 in April from 44 in March, hitting the lowest level in six months, dragged down by concerns over present sales and buyer traffic, according to the National Association of Home Builders/Wells Fargo housing-market index………………………………………..Full Article: Source

Dubai developers to revive housing projects

Posted on 16 April 2013 by Laxman  |  Email |Print

Developers are reviving building plans after nearly three years of inactivity, encouraged by a gradual recovery in real estate. Another 40,000 new homes will enter Dubai’s property market over the next two years as developers revive projects stalled after the collapse of the emirate’s real estate market, a report said on Sunday.
The new properties to be built between 2013 and 2015 will represent 11 per cent of the current stock of 357,000 units, consultants Jones Lang LaSalle said in a report on Dubai’s real estate market for the first quarter of 2013………………………………………..Full Article: Source

Beijing: 70pct residential land used for affordable housing

Posted on 12 April 2013 by Laxman  |  Email |Print

To further regulate its land supply, Beijing will allocate 5,650 hectares for construction land this year, of which 1,650 hectares are reserved for residential land, the Beijing Municipal Land Bureau announced on April 8. 70 percent of the residential land will be used for affordable homes as well as small- and medium-sized home, according to the bureau.
In breakdown, land that goes to the affordable housing projects will be some 800 hectares and commercial homes will take up 850 hectares. Among the latter, the small- and medium-sized residential land comes to some 370 hectares………………………………………..Full Article: Source

Saudi real estate sector to see accelerated growth

Posted on 11 April 2013 by Laxman  |  Email |Print

A recent study by Injaz Development Co. has pointed out that the Saudi real estate market is set to witness a sustained increase in demand and strong growth in line with the expected boom in other key sectors such as retail, manufacturing and construction, thanks to the upturn in the Saudi economy in the first half of 2013. The study indicated that these positive indicators are a result of the major development projects being undertaken in vital sectors in order to keep pace with the growing demand.
The Saudi construction and building sector is expected to grow by 7.5 per cent during 2013, which in turn will enhance the performance of the real estate sector through the major construction projects being launched. (Press Release)

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India: Tepid sales to impact real estate companies’ March quarter results

Posted on 11 April 2013 by Laxman  |  Email |Print

Although real estate firms focused more on project execution and debt reduction in the March quarter, high inventory, a lull in approvals and a drop in the number of launches may still hurt their performance for a while.
South India-based developers such as Prestige Estates Projects Ltd and Sobha Developers Ltd may outperform companies from other regions because of improved absorption and better affordability, while India’s largest developer DLF Ltd needs to boost sales, a Mint poll of four brokerages showed………………………………………..Full Article: Source

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China: Major firms grab larger slice of property market

Posted on 10 April 2013 by Laxman  |  Email |Print

China’s major property developers are grabbing bigger market shares, and higher revenues from the market reshuffle brought about by tightening policies, according to the latest real estate industry statistics. In the first quarter, the nation’s top 10 property developers by sales revenue had a 14.88 percent market share, up from 14.28 percent a year ago, according to a report released on Tuesday by China Real Estate Information Corporation.
Expanding market shares have resulted from the rising sales revenue of these heavyweight developers. Each of the top 10 generated more than 11 billion yuan ($1.77 billion) in the first quarter, with China Vanke Co Ltd taking the lead………………………………………..Full Article: Source

Developers happy to follow buyers abroad

Posted on 08 April 2013 by Laxman  |  Email |Print

Chinese property developers are increasingly expanding their businesses abroad following Chinese people’s desires to purchase properties overseas. Shanghai-based property developer Greenland Group is to invest A$480 million ($498 million) in an Australian property project, becoming the latest Chinese developer to explore an overseas market.
Greenland said it has reached a deal with Canadian company Brookfield Asset Management Inc to buy two buildings in downtown Sydney. It is the largest single investment made by Chinese developers in Australia………………………………………..Full Article: Source

Dubai property market still benefiting from Arab Spring, Euro and Cypriot crisis

Posted on 05 April 2013 by Laxman  |  Email |Print

All residential developments in Dubai, especially those with quality buildings or those in prime areas, have continued where they ended 2012 with a strong Q1 2013 performance. Apartment sale prices grew on average by 12% in the three months to the end of March 2013, standing at 27% year-on-year growth. In comparison, although average villa sales prices only climbed 5% in Q1 2013, growth averaged 24% over the past 12 months.
The performance of rental rates was also impressive, average apartment and villa rents grew by 3 and 4% compared to Q4 2012, but still managed to climb 19 and 21% respectively over the past year………………………………………..Full Article: Source

UAE developer to launch $1-bln property project in India

Posted on 04 April 2013 by Laxman  |  Email |Print

Dubai-based private developer DAMAC Properties has said it is launching phase two of a USD 1 billion project of luxury hotel and serviced residences to Indian investors, following a sell-out event in Dubai.
‘DAMAC Towers by Paramount’, is being developed on platinum real estate in Dubai overlooking the world’s tallest tower Burj Khalifa. It comprises a 540 key Paramount Hotel & Residences and more than 1,000 units of DAMAC Maison - Paramount (Hollywood movie production company) co-branded serviced hotel residences……………………………………….Full Article: Source

Top 10 property developers in China 2013

Posted on 04 April 2013 by Laxman  |  Email |Print

The Top 500 Chinese Real Estate Developers in 2013 was released on March 22. China Vanke Co., Ltd. retained its champion-position, according to the report from China Real Estate Research Association, China Real Estate Industry Association and China Real Estate Appraisal.
The performance of the top 100 real estate companies within China has recovered since the second half of 2012 before the overall recovery of the whole market. For 2012, the total sales amount of such top 100 companies totaled 1,907.3 billion yuan, up 16.7 percent year on year, which was 6.7 percent more than the average level of China………………………………………..Full Article: Source

Available land can meet housing needs: official

Posted on 25 March 2013 by Laxman  |  Email |Print

There has been no shortage of land in China for residential houses, and the land-supply plan for this year will be publicized no late than April, said a senior official on Saturday. Hu Cunzhi, vice-minister of land and resources, made the statement at a summit held by China Development Research Center, a think tank under the State Council.
Hu denied claims that the Chinese government had supplied insufficient land for home building, thus limiting supply and pushing up home prices. He said almost 8.44 billion square meters of floor space could have been built on China’s available land for residential houses over the past eight years, and if one person occupies 30 sq m on average, that space could house 281 million people………………………………………..Full Article: Source

UK budget 2013: Property market moves seen as ‘game-changer’

Posted on 21 March 2013 by Laxman  |  Email |Print

Housebuilders were among the biggest winners in Wednesday’s Budget, as a “gamechanging” move to boost mortgage availability was extended to older properties. Shares in the UK’s biggest housebuilding companies soared as a result. Barratt, the biggest riser, gained 6.5 per cent to close at 255p.
Around a quarter of housebuilders’ sales in the past year have already benefited from government schemes to boost mortgage availability and although the industry had been clamouring for more support, the size of Wednesday’s boost nevertheless took the industry by surprise………………………………………..Full Article: Source

Homebuilder confidence in U.S. unexpectedly fell in March

Posted on 19 March 2013 by Laxman  |  Email |Print

Confidence among U.S. homebuilders unexpectedly fell for a second month in March, a sign the residential real-estate market will take time to strengthen.
The National Association of Home Builders/Wells Fargo index of builder confidence dropped by 2 points to 44 this month, due to a decrease in the measure of current sales, a report from the Washington-based group showed today. The median forecast in a Bloomberg survey called for a gain to 47. Readings below 50 mean more respondents said conditions were poor………………………………………..Full Article: Source

Carefully managed housing market key to Turkish economic success: Deputy PM

Posted on 19 March 2013 by Laxman  |  Email |Print

Turkey’s Deputy Prime Minister Al-Babacan emphasized the importance of housing development on the macroeconomic health of the country and the positive effects of the sector being properly financed, clearly and effectively regulated and with a mix of low cost and public housing forming a substantial part of development.
This, he said, was the formula that had seen Turkey through the world economic downturn. He said: “The mortgage system was carefully designed and both clearly and strongly regulated. This developed trust in the system and a resulting stability.”……………………………………….Full Article: Source

Homebuilding probably climbed with sales

Posted on 18 March 2013 by Laxman  |  Email |Print

Sales of previously owned homes and construction of new houses probably accelerated in February, highlighting the strength in residential real estate that’s helping propel the U.S. expansion, economists said before reports this week.
Purchases of existing properties increased to a 5 million annual rate, the strongest since November 2009, and housing starts rose to a 915,000 pace, according to the median forecasts in a Bloomberg survey. Other data may show an index of leading economic indicators advanced for a third straight month………………………………………..Full Article: Source

Mumbai: Realty developers turn to sops to attract homebuyers amid slump

Posted on 15 March 2013 by Laxman  |  Email |Print

Developers are offering hefty price discounts on properties, gifting cars and home appliances to prop up sales. Real estate developers, brokers and marketing agencies have begun bombarding customers with unsolicited emails, text messages and phone calls to prop up sales in a sluggish market, which consultants believe is unlikely to pick up in the near term.
Not only are they offering hefty price discounts on properties but some are also bundling cars, home appliances, cash and non-cash discounts. Sample this unsolicited email advertisement sent to a Mint reader, who did not want to be named, on 13 March by property broker Capital First Ltd on behalf of Ekta Parksville by Ekta World Ltd…………………………………Full Article: Source

Cautious homebuilders target local markets, rentals for growth

Posted on 14 March 2013 by Laxman  |  Email |Print

Small- and mid-size homebuilders are aiming to become masters of their local market, reining in plans to expand nationwide that ultimately led many to fail when the housing bubble burst in 2007. The bigger players - companies like No. 3 homebuilder Lennar Corp and the market leader in luxury homes, Toll Brothers Inc - are entering the rental market as a growing number of Americans opt to live in rented accommodation.
“(Lennar and Toll) have the balance sheet to go out and attack opportunities that could provide a higher return than a single-family home,” said JMP Securities analyst Peter Martin………………………………….Full Article: Source

Developers cash in on Europe’s poorest

Posted on 08 March 2013 by Laxman  |  Email |Print

International financial investors have spent billions to gobble up cheap real estate in Berlin. But a look at Scharnweberstrasse 111 shows how they and their ruthless middlemen are exploiting immigrants from Southeastern Europe to make profits.
Their offices are in places where a lot of money is turned into even more money: in Luxembourg, the City of London and on Lake Geneva. They deal in shares of companies in Asia and Africa, and in real estate in Europe. They own more than 6,000 apartments in Berlin. Narghita lives in one of them………………………………………..Full Article: Source

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Thailand: Top 10 developers account for 45 pct of property market revenue

Posted on 08 March 2013 by Laxman  |  Email |Print

Amid a highly competitive property market in Bangkok and its suburbs, the top 10 listed developers recorded combined revenue of Bt161.53 billion last year, accounting for 45 per cent of the overall market value of Bt357 billion.
Sansiri was the market leader with revenue of Bt30.08 billion for a share of about 8.4 per cent, followed by Pruksa Real Estate with 7.6 per cent and Land & Houses with 6.8 per cent, according to a survey by The Nation………………………………………..Full Article: Source

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Residential developers landbanking denial

Posted on 07 March 2013 by Laxman  |  Email |Print

Property developer Australand has denied claims it ranks among Australia’s leading residential landbankers – a claim made after a study of housing lots around Australia undertaken by activist website, Prosper.
The property developer had less than 8.5 years of supply compared with 19.2 years estimated by Prosper, Australand advised Property Observer who sought a response from all seven leading developers. The overall claim of land banking went un-rebutted by the six other publicly listed developers………………………………………..Full Article: Source

Property market builds momentum in Indonesia

Posted on 06 March 2013 by Laxman  |  Email |Print

As with other economies around the world affected by the global crisis, growth slowed in Indonesia in 2012. However, the property market is bucking the national trend, with large real estate developers planning a wave of new construction and mid-sized companies launching office and apartment projects.
Statistics Indonesia said in January that growth in the final quarter of 2012 was 6.11%, compared with a revised 6.16% for the third quarter. Analysts have cited declining exports, a weakening rupiah and a growing current account deficit as reasons for the decline………………………………………..Full Article: Source

Taxing China’s property

Posted on 05 March 2013 by Laxman  |  Email |Print

China’s real-estate developers have been served an eviction notice. A new round of tightening measures, announced by the State Council on Friday, threatens stricter controls on who can buy a home and a 20% capital-gains tax on property transactions. Stocks have taken a pounding, with sector heavyweight China Overseas Land & Investment plunging 7.1% on the Hong Kong market Monday.
The new measures have teeth. Home sellers face a steep tax increase. In many cities, restrictions on who can buy a home will be expanded from downtowns to city limits. Banks may raise the down payment and mortgage rates for second-home purchases. Cities will be responsible for keeping house prices stable, which will make it difficult for developers to bring high-end projects to market………………………………………..Full Article: Source

Saudi- Developers urge solution to housing crisis

Posted on 04 March 2013 by Laxman  |  Email |Print

Top private sector developers at Cityscape Jeddah called on the government to work with them to streamline several processes that cause delays, making it nearly impossible to develop affordable housing projects to solve the housing crisis.
“Among the limits and challenges facing Saudi developers, is for example the regulations concerning the Municipality’s issuance of licenses, which must have a shorter processing time from the current minimum of at least two years up to a maximum of four years………………………………………..Full Article: Source

S&P raises outlook on China property

Posted on 21 February 2013 by Laxman  |  Email |Print

Standard & Poor’s raised its outlook for China’s housing sector from negative to stable, with the rating agency highlighting strong sales momentum and stable financing for developers.
The upgrade, coming less than two years after S&P cut the country’s property developers to a negative outlook, is the latest sign of a turnround in China’s real estate market that began last year……………………………………Full Article: Source

China Vanke enters U.S. property market with Tishman deal

Posted on 19 February 2013 by Laxman  |  Email |Print

China Vanke Co., the biggest developer listed on Chinese exchanges, has entered a property venture in San Francisco, its first foray into the U.S. real estate market. The company signed the deal on Feb. 12, Chairman Wang Shi wrote on his microblog on Sina Corp.’s Twitter-like Weibo service, and confirmed by Vanke, without giving any details.
Vanke bought 70 percent of 201 Folsom Street, a mainly high-end residential project owned by Tishman Speyer Properties LP, Jinsong Du, a Hong Kong-based property analyst at Credit Suisse Group AG, wrote in a note to clients Feb. 12, citing information from Vanke…………………………………….Full Article: Source

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China building boom comes at farmers’ expense

Posted on 15 February 2013 by Laxman  |  Email |Print

In Chengdu, China, farmers and rights advocates say a campaign of harassment has driven farmers off their land, so that local government and real estate developers can profit from real-estate deals. Chinese law gives local governments the right to acquire land in the public interest. Here, a view of a luxury shopping area in Chengdu.
Inside the sales office of Golden Lakeshore, a luxury villa development, model homes are displayed for potential buyers. The villas are a Chinese nouveau riche fantasy of Tuscany, and the showroom is decked out with chandeliers and velvet furnishings………………………………………..Full Article: Source

Australian property sector crawls along in residential development

Posted on 15 February 2013 by Laxman  |  Email |Print

The largest-listed residential developer in Australia, Stockland Property Group, has announced a first half year statutory loss of 147 million Australian dollars ( 151.4 million U.S dollars) on the back of impairments in its residential book, becoming the latest listed property trust to suffer the ill-effects of Australia’s problematic housing market.
This is a staggering number that says a lot about the lackluster status of the residential development market in Australia since the global financial crisis………………………………………..Full Article: Source

Demand fuels fast pace of Jeddah urban development

Posted on 11 February 2013 by Laxman  |  Email |Print

With a solid combination of demographic and economic growth positions, Jeddah is a major center for residential and commercial development projects,” said Hussain Al- Harthi, VP and Managing Director, National Exhibitions Company, ahead of the Cityscape Jeddah 2013 that will take place at the Jeddah Centre for Forums & Events on March 2-4, 2013.
“All demand drivers are in place to sustain growth within the residential market, offering ample opportunities for investors to make attractive returns. Jeddah’s population has doubled over the last 25 years to 3.6 million, and this growing population coupled with limited housing supply is expected to drive prices and sustain demand,” he said………………………………………..Full Article: Source

Bangkok: Demand drives city land price by 15pct

Posted on 11 February 2013 by Laxman  |  Email |Print

Land plots in Bangkok’s prime locations are in high demand from both large developers and non-property investors jumping into the business, leading to prices soaring 15% a year on average.
Kulwadee Sawangsri, executive director for investment and land services at the property consultant CB Richard Ellis (Thailand) or CBRE, said demand is so high because buyers want to develop condominiums, offices and private homes. Some want to buy land and keep it for capital gains in the future and think there are no expenses when holding a plot. But on the contrary, owning a condo or a house entails expenses such as for common areas or maintenance fees………………………………………..Full Article: Source

Australian homebuilders can’t give them away: Mortgages

Posted on 05 February 2013 by Laxman  |  Email |Print

Australian homebuilders are resorting to discounts, gift cards and help with mortgage payments to compete for dwindling buyers as home sales slow. Stockland (SGP), Australia’s biggest residential developer, is giving rebates and gift cards of as much as A$30,000 ($31,300) in Victoria, Queensland and New South Wales states.
Devine Ltd. (DVN) is matching deposits in South Australia and taking over mortgage payments for as long as a year in Melbourne. Peet Ltd. (PPC) has been offering discounts of as much as A$50,000 in Western Australia, Queensland and Victoria…………………………………..Full Article: Source

Top 50 GCC real estate companies

Posted on 04 February 2013 by Laxman  |  Email |Print

The UAE may be home to the Burj Khalifa – the world’s tallest tower – and have an array of outlandish projects planned in the coming years, such as an underwater hotel and a Taj Mahal replica, but lesser-known neighbour Qatar dominates the list of the biggest real estate firms in the Gulf, an Arabian Business report found.
Qatar, which is already planning to spend up to US$100bn on infrastructure projects over the next decade in the run up to hosting the FIFA World Cup in 2022, tops the list as the home to the biggest real estate company across the Gulf……………………………………..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

Malaysian property prices to remain steady in 2013

Posted on 29 January 2013 by Laxman  |  Email |Print

Property prices in Malaysia will remain steady in 2013 as competition between developers intensifies, according to a recent report by Hong Leong Investment Bank (HLIB). Developers will need to be more selective of new projects, reported HLIB.
HLIB regard landbank location as the market’s key driver, and identify Glomac Bhd as the developer to watch. Glomac Bhd’s flagship Lakeside development at Puchong puts them in a prime position, as the development offers a combination of value at 4.9 percent dividend yield and growth. However, the developer’s liquidity remains lacking, according to HLIB’s report………………………………………..Full Article: Source

Bank rules hit UK property developers

Posted on 17 January 2013 by Laxman  |  Email |Print

UK commercial property developers are facing sharply higher costs and are likely to have to scrap many projects outside London as a result of tough new capital rules being imposed on British banks by the City watchdog.
Property companies and bankers to the sector have warned that the rules, which will force banks to hold substantially more capital against loans secured on offices and shops, risk derailing the prospects of recovery in commercial real estate values………………………………………..Full Article: Source

Is Bangkok property market slipping under water ?

Posted on 17 January 2013 by Laxman  |  Email |Print

Major developers parading ideas to build residential projects in provincial markets have been in the spotlight recently. What are the key driving factors and where are the next up-and-coming opportunities for the real estate business? The Bangkok Metropolitan Region (BMR) has been the prime market for major residential developers for more than three decades given its hefty market size and continued demand growth.
The attractiveness of the BMR lies in the fact that it accounts for 17% of the country’s total population, 44% of gross domestic product, and an average monthly household income of approximately 42,000 baht, almost double the average income nationwide. With such attractions, why are so many prominent real estate developers now looking toward provincial areas?……………………………………….Full Article: Source

Saudi Arabia to spend $1.3bln on new homes

Posted on 16 January 2013 by Laxman  |  Email |Print

Saudi Arabia will build more than 12,400 homes once the Real Estate Development Fund has sanctions new loans worth SR5bn ($1.3bn), Arab News reported.
The housing units will be constructed in different parts of the kingdom, the Jeddah based newspaper reported, citing Muhammad al-Abdani, director general of the fund………………………………………..Full Article: Source

HK: Bull housing market spurs on developers

Posted on 11 January 2013 by Laxman  |  Email |Print

Home prices at the 50 major estates in the territory soared 22 percent last year, according to Ricacorp, which forecasts that prices will gain 10percent this year despite the latest cooling measures adopted by the government.
In December, average transactional prices at the major housing developments had stood at HK$7,552 per square foot since the third quarter in 2012, surpassing the 1997 figure of HK$7,012 psf. On top of that, 12,628 car parking spaces were sold last year, rising to a 17-year high and involving HK$8.24 billion………………………………………..Full Article: Source

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Saudi Arabia: 20pct real estate growth forecast

Posted on 09 January 2013 by Laxman  |  Email |Print

A pivotal change in the Saudi real estate market is expected in 2013, according to a number of financiers and developers specialized in this field.
Al Eqtisadiah newspaper pointed out that this year will witness a boom in the real estate market, as housing projects with affordable prices for citizens with limited income will be implemented, stressing that growth in this sector will exceed 20 percent………………………………………..Full Article: Source

Big Chinese property developers cement position

Posted on 07 January 2013 by Laxman  |  Email |Print

Major Chinese real estate developers consolidated their market leadership last year even as measures to curb housing speculation remained. Fifty-two developers sold properties worth more than 10 billion yuan (US$1.58 billion) in 2012, up from 37 in 2011 and 35 in 2010, the China Index Academy, a leading real estate research body, said in its latest report.
Shenzhen-based China Vanke Co remained the country’s largest builder after selling 145.2 billion yuan worth of properties last year, immediately trailed by Poly Real Estate Group and Shanghai Greenland Group, which both sold properties valued at over 100 billion yuan………………………………………..Full Article: Source

CapitaLand to exit some markets, review Australia unit

Posted on 04 January 2013 by Laxman  |  Email |Print

CapitaLand Ltd.will review its Australian investments and leave some businesses in India, London and the Middle East as part of a corporate overhaul.
Southeast Asia’s largest property developer by market value no longer considers Australia a core market, its chief executive officer said Thursday. The strategic review of Australand Property Group comes as some Australian rivals are eyeing the unit’s assets………………………………………..Full Article: Source

Government assistance may breathe new life into Vietnam real estate market

Posted on 04 January 2013 by Laxman  |  Email |Print

Real estate developers in Vietnam are able to breathe easier after relevant ministries agreed to pump money into the country’s frozen real estate market, VietNam Net reported.
The State Bank of Vietnam has promised to slash the interest rates to make it easier for real estate developers and house buyers to access bank loans, the website reported………………………………………..Full Article: Source

Hong Kong housing developers hope for better 2013

Posted on 02 January 2013 by Laxman  |  Email |Print

Leading players are expecting potential purchasers to return after the Lunar New Year when sentiment is likely to swing upwards. Property stamp duties announced at the end of October are leaving deep scars in Hong Kong’s housing market, with sales activity plunging about 70 per cent and prices retreating.
However, some leading developers believe that time can heal all wounds. Cheung Kong (Holdings), Sun Hung Kai Properties, Kerry Properties and HKR International are betting that buyers - local or non-local - will come back, given enough time. That could be after the Lunar Year holiday………………………………………..Full Article: Source

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