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Trulia: It’s still a housing rebound, not a bubble

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

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

S.Arabia: Residential construction industry ‘very competitive’

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

Hong Kong property investors switch search to overseas markets

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

Housing improvement may herald return of U.S. workforce mobility

Posted on 14 May 2013 by Laxman  |  Email |Print

While far from their 2006 peak, home prices in major metropolitan areas have been rising since early 2012. If that persists, it should make it easier for Americans to move and for employers to match job seekers with available jobs, lowering the jobless rate and increasing overall economic productivity and growth.

“Until the real-estate market picked up, people wouldn’t even consider a move without the certainty that they could sell their homes,” said Jerry Funaro, vice president of global marketing for TRC Global Solutions, a domestic and international relocation service based in Milwaukee…………………………………………Full Article: Source

Sign of another U.S. housing market bubble?

Posted on 14 May 2013 by Laxman  |  Email |Print

All you have to do is look at a price chart of Lennar Corp to see the proof that the U.S. housing market is on the mend. Since January 2012, shares of the Miami, Fl.-based new homebuilder have more than doubled.
In fact, since the industry nearly collapsed six years ago, new-home construction for builders like Lennar is now clearly on an upswing. According to the March 2013 report from the U.S. Commerce Department, new home construction was on pace for more than one million units for the first time since the gaudy days of June 2008………………………………………..Full Article: Source

Spain home expropriation plans seen violating EU bailout

Posted on 14 May 2013 by Laxman  |  Email |Print

Spanish politicians trying to cushion the blows of austerity plan to seize foreclosed homes to house the needy, discouraging foreign investment and threatening to violate terms of the European bailout of the country’s banks.
The regional governments of Andalusia, with the most vacant properties in the country, and the tourist destination of the Canary Islands, are planning to expropriate foreclosed properties for as long as three years to house displaced families………………………………………..Full Article: Source

China: Property market slows as panic subsides

Posted on 14 May 2013 by Laxman  |  Email |Print

The value of new home purchases in China rose at a slower pace in the first four months with home seekers feeling less panicky in April compared to a hectic March.
Sales of new residential properties, excluding government-subsidized affordable housing, jumped 65.2 percent from a year earlier to 1.69 trillion yuan (US$273 billion) between January and April, the National Bureau of Statistics said. That compared with 69 percent annual growth registered in the first quarter………………………………………..Full Article: Source

Housing recovery opens window to fix homeowner tax breaks

Posted on 10 May 2013 by Laxman  |  Email |Print

The U.S. housing market continues to recover. This week, we learned that the number of homeowners who are newly delinquent on their mortgages has fallen to pre-2007 levels. Housing prices also rose 9.3 percent in February for the biggest year-to-year advance since May 2006. To top it off, Fannie Mae, the government-owned mortgage financier, said it is returning $59.4 billion to taxpayers after a record quarterly profit.
This newfound strength creates an opportunity to address two tax breaks that are expensive, distortive and unfair: deductions for mortgage-interest payments and local property taxes………………………………….Full Article: Source

Cuba’s real estate market on the rise

Posted on 10 May 2013 by Laxman  |  Email |Print

In some ways, Yosuan Crespo’s real estate office resembles any you might find in New York, London or Tokyo. There are slick posters of hot properties hanging from the ceiling, a steady stream of hopeful buyers and sellers and a constant clack of computer keys.
But Crespo’s headquarters in central Havana’s trendy Vedado neighborhood is actually somebody else’s breezy front porch. The computer’s only connection to the Internet is a creaky dial-up link, and Crespo is careful to say he’s not operating as a broker, since the job is still technically illegal………………………………….Full Article: Source

In London, an underground real-estate revolution

Posted on 10 May 2013 by Laxman  |  Email |Print

A new $23 billion rail link in London could transform the property landscape around key stations as developers pour in; analysts predict big price bumps for Tottenham Court Road and Canary Wharf.
Traveling at rush hour on the London Underground, with hundreds of bodies squeezed into overheated carriages on a network that just celebrated its 150th anniversary, can be so unbearable that commuters have nicknamed the experience “cattle class.”…………………………………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

Winners of the investor-led housing recovery

Posted on 09 May 2013 by Laxman  |  Email |Print

The housing market recovery is gaining momentum, but it’s not your average homebuyer behind the push, it’s investors. Low interest rates and recuperating home prices have investors flocking to the market to find bargains and they’re pricing out traditional buyers.
But just like any competition, there are winners and losers in the recent shift and surge in the real estate market. “Investors are increasingly putting money into residential properties because they see it as a lucrative investment,” says Deonta Smith, an analyst at market research firm IBISWorld. “Investors are purchasing foreclosed and existing homes that need a lot of work, fixing them up and renting them until prices increase.”…………………………………Full Article: Source

Beijing clampdown on property market ‘won’t hold back China homes sales’

Posted on 09 May 2013 by Laxman  |  Email |Print

Mainland home sales to grow at slower pace and prices to rise 5 to 10 per cent, says Moody’s. The mainland property market will continue to grow, but at a slower pace, while developers which focus on the mass market will experience strongest growth, Moody’s Investors Service said.
Its view, in a report released yesterday, echoed predictions by analysts that property prices will rise 5 to 10 per cent this year………………………………….Full Article: Source

Another U.S. housing market crisis on the horizon?

Posted on 08 May 2013 by Laxman  |  Email |Print

Home prices are heating up, as the flow of new homes and permits continue to steadily increase and the attraction of historically low mortgage rates motivates buyers. The buyers that are driving up the housing market are not only the buyers of principal homes, but also the investors who are attracted to the relatively lower home prices and cheap financing.
What is interesting is that we are seeing major buying from not only the smaller investor who may dabble in an investment property, but also the large institutions and hedge funds that are getting into the swing of things, gobbling up hundreds and thousands of properties at lower prices………………………………………..Full Article: Source

Public housing agencies push to impose time limits, work requirements for aid recipients

Posted on 08 May 2013 by Laxman  |  Email |Print

Deep in the president’s new budget is a plan that could transform public housing in the nation by allowing housing authorities to increasingly set time limits or work requirements for participants.
Currently, government housing benefits are generally open ended. Unlike welfare—which has a five-year limit—federal housing programs allow low-income Americans to receive rent vouchers or live in government complexes for decades………………………………………..Full Article: Source

Canadian housing - bursting bubble or gentle landing?

Posted on 08 May 2013 by Laxman  |  Email |Print

It’s looking like an unsettling spring in Canadian housing, a market that has proven far more even-keeled and less scary for investors in recent years than in the United States.
In what is traditionally the best season of the year for real estate agents, Toronto agent Ecko Jay says the industry is seeing far fewer buyers, a result of tighter lending rules, high prices and fear of a bubble. In Toronto alone, sales dropped 40 percent in the first quarter from a year earlier, making homeowners and investors jumpy………………………………………..Full Article: Source

Germans splurge on Italian homes locals can’t afford

Posted on 08 May 2013 by Laxman  |  Email |Print

Yasemin Rosenmaier has been selling homes in northern Italy since 2005 and she’s finding that there’s never been a better time to work for a German broker.
“I’d say 60 percent of our closings are with Germans, which is much higher than in previous years,” Rosenmaier said by telephone from her Engel & Voelkers office in Cernobbio on Lake Como. “Why? Fear of inflation, the uncertainty on the financial markets, fear of what happened in Cyprus,” the latest European country to get an international bailout………………………………………..Full Article: Source

Qatari real estate transactions down

Posted on 08 May 2013 by Laxman  |  Email |Print

The value of total real estate transactions during last week of April (April 21 to 25) amounted to QR807.2m, down 5.5 percent compared to QR854.4m the previous week, according to Ezdan Holding Group’s weekly report.
The main reason for the decline was caused due to the absence of grand deals. The report forecast that the real estate transactions will continue its recovery during the coming weeks, especially in the sector of plots with the existing trend of real estate investors and developers coming up with more new projects………………………………………..Full Article: Source

India real estate: Can FDI save the day?

Posted on 08 May 2013 by Laxman  |  Email |Print

Investment in India’s real estate sector is falling fast – yet another bit of bad news for the economy. In the fiscal year just ended, new investment into real estate was down 55 per cent from Rs926bn to Rs420bn (from $18bn to $8bn) according to the Associated Chambers of Commerce and Industry of India (Assocham).
The sector is suffering as sales fall, the cost of construction rises and banks refuse to pass on reductions in the base rate after the recent round of interest rate cuts………………………………………..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

Predicting when Hong Kong property bubble will burst

Posted on 08 May 2013 by Laxman  |  Email |Print

Hong Kong has the highest home prices among major global cities, including London, New York, and Tokyo, according to a report by global property consultancy Savills, and one of the big questions in global finance these days is predicting when the Hong Kong property bubble will burst.
Consensus is growing that the market is getting ready for some kind of setback, though opinions differ on how serious. There are elements in Hong Kong’s situation that are all too familiar in Ireland. Since returning to China in 1997, Hong Kong’s economy has become irrevocably intertwined with China, and it needs Chinese trade flows and tourists to keep it simmering………………………………………..Full Article: Source

Philippine real estate draws foreign buyers

Posted on 08 May 2013 by Laxman  |  Email |Print

The Philippines real estate market is not only attracting investments from Filipino expatriates but also from foreigners who are either buying retirement homes or expanding assets in the country.
The relatively cheap properties and the opportunity to make significant returns are a major draw for foreign buyers. Philippine laws allow foreign nationals to own condominiums or residential units in high-rise buildings. The property market in the country has been growing in recent years, largely due to high demand from Filipinos working abroad………………………………………..Full Article: Source

NZ: Housing outlook hits record high

Posted on 08 May 2013 by Laxman  |  Email |Print

Expectations of house price inflation have hit a record high in ASB’s quarterly survey, while the numbers who consider it a good time to buy a house continue to fall. In the bank’s latest survey, 63 per cent of respondents expected house prices to rise over the year ahead, up from 59 per cent three months ago and above the peak 10 years ago.
A seller’s market is also evident in the net balance who consider it a good time to buy, which has fallen to 8 per cent from 13 per cent in the previous survey………………………………………..Full Article: Source

Housing crash fades as defaults decline to 2007 levels

Posted on 07 May 2013 by Laxman  |  Email |Print

Six years after the start of the foreclosure crisis, American homeowners are paying their mortgages like the housing crash never happened.
First-time delinquent home loans fell to 0.84 percent of the 50.2 million mortgages in March, the first month below 1 percent since 2007, before a wave of defaults led to the financial crisis, according to a report today by Lender Processing Services Inc. The rate of first-time defaults, defined as loans that went from performing to at least 60 days delinquent, peaked at 2.89 percent in January 2009………………………………………..Full Article: Source

A home buying frenzy in Las Vegas

Posted on 07 May 2013 by Laxman  |  Email |Print

My elderly mother is freaking out. Two weeks ago she put her small house on the market in the Las Vegas suburb of Henderson. The day she listed the house she received four calls, including an agent who assured he was on his way over with a buyer. Within days she had seven offers and eventually closed a deal for significantly more than her asking price.
“I’ve sold a lot of houses, but I’ve never seen anything like this,” she said. This is the state of the market in Las Vegas, once the poster child for the housing collapse. After a decade of frenzied construction, prices plummeted by more than 50 percent in most neighborhoods. Four years ago, at the market’s lowest point, more than 80 percent of the homes sold were foreclosure or bank-owned sales………………………………………..Full Article: Source

Dubai’s off-plan property demons return

Posted on 07 May 2013 by Laxman  |  Email |Print

Damac Properties, one of the hardest-hit developers during Dubai’s real estate market meltdown five years ago, launched a 28 million-square-foot luxury villa and condo project on the outskirts of the city last month. To fund construction, the company is using a financing model that should be familiar to anyone who has experienced or read about Dubai’s bursting property bubble: off-plan sales.
Hussein Sajwani, Damac’s chairman, said on Sunday that construction of its new Akoya project, which includes an 18-hole golf course managed by Trump International, will be 80% financed by customers. Damac is only putting up 20% of the cost, although it also used its own funds to pay for the land upon which it is to be built………………………………………..Full Article: Source

Buenos Aires lures foreign buyers with tumbling prices

Posted on 03 May 2013 by Laxman  |  Email |Print

Roderick Chapman, a 50-year-old marketing specialist from Vancouver, British Columbia, was in Buenos Aires last month, looking at one-bedrooms in the city’s posh Recoleta district.
“I’m absolutely amazed by the number of choices,” said Mr. Chapman whose budget for a vacation property is 130,000 U.S. dollars—the currency in which most Buenos Aires real estate typically is traded. “It is overwhelming, really.”……………………………………….Full Article: Source

Canadian housing: Bursting bubble or gentle landing?

Posted on 03 May 2013 by Laxman  |  Email |Print

It’s looking like an unsettling spring in Canadian housing, a market that has proven far more even-keeled and less scary for investors in recent years than in the United States.
In what is traditionally the best season of the year for real estate agents, Toronto agent Ecko Jay says the industry is seeing far fewer buyers, a result of tighter lending rules, high prices and fear of a bubble. In Toronto alone, sales dropped 40 percent in the first quarter from a year earlier, making homeowners and investors jumpy………………………………………..Full Article: Source

New housing barons widen their sights and bets

Posted on 03 May 2013 by Laxman  |  Email |Print

As home prices rise, there are fewer bargains in single family homes, but not fewer investors. Their ranks and property portfolios continue to grow. Last month Five Ten Capital, a Piedmont, California-based asset manager, inked a one hundred million dollar deal with Deutsche Bank to open a new fund to buy and manage single family rental homes, expanding Five Ten’s range to Texas and Missouri.
“Obviously, home prices are up, so did you miss an opportunity? Yes, you’d have been better off buying a year ago than today, but we think for the most part we are in the third inning of this housing recovery,” said Rob Bloemker, Five Ten’s CEO………………………………………..Full Article: Source

Housing recovery checked by cost increases, labor shortages

Posted on 03 May 2013 by Laxman  |  Email |Print

Marty Mitchell’s company in Rockville, Md., builds homes priced from $700,000 to $1.6 million. Business is brisk and could be better. Costs of everything from lumber to labor have been rising faster than anyone in the industry imagined only a short time ago.
“We certainly expected some increases as the market improved, but costs have really shot up in the past six months or so,” says the deputy chief executive officer of Mitchell & Best Homebuilders. That’s putting the squeeze on margins even as companies like Mitchell’s raise home prices. As the U.S. housing industry recovers from its worst downturn since the 1930s, builders are having to cope with steep cost increases for various materials as well as rising land prices and shortages of skilled labor………………………………………..Full Article: Source

Mumbai: Realtors turn office space into homes

Posted on 03 May 2013 by Laxman  |  Email |Print

A number of builders in Mumbai are converting their office projects into residential ones amid poor sales and falling rentals in the commercial space. In the backdrop of tight liquidity, builders are also finding it easier to work on housing projects, given the self-financing ability of residential projects through customer advances as against back-ended commercial developments.
Among major developers, Oberoi Realty is now contemplating to convert its office space project Oberoi Splendor Commercial on Jogeshwari-Vikhroli Link Road in Andheri , a suburb of Mumbai, into a residential project. Brokerages like Motilal OswalBSE -0.23 % and IDFC Securities have termed Oberoi Realty’s decision as a positive trigger, given the possibility of better sales volume………………………………………..Full Article: Source

China: Home prices continue rising in April

Posted on 03 May 2013 by Laxman  |  Email |Print

Despite the government’s recent efforts to reinforce cooling measures for the real estate sector, the average home prices across 100 major Chinese cities continued rising in April, according to data released Thursday.
The average new residential home price in the 100 cities in April reached 10,098 yuan ($1,638.91) per square meter, up 1 percent from March and up 5.34 percent year-on-year, according to data from the China Real Estate Index System. Beijing saw its average home price jump by 3.11 percent month-on-month and 15.26 percent year-on-year in April………………………………………..Full Article: Source

Construction spending decreases on U.S. government slump

Posted on 02 May 2013 by Laxman  |  Email |Print

Construction spending in the U.S. unexpectedly fell in March, reflecting the biggest slump in government projects in 11 years.
Outlays decreased 1.7 percent to a $856.7 billion annual rate, the least since August, the Commerce Department reported today in Washington. The median forecast of 46 economists surveyed by Bloomberg called for a 0.6 percent rise. Public projects dropped by 4.1 percent, the biggest decrease since March 2002………………………………………..Full Article: Source

Turkey campaigns for foreign home buyers

Posted on 02 May 2013 by Laxman  |  Email |Print

Turkey has announced plans to issue one-year residency permits to foreigners who purchase property in the country, as part of a larger campaign from the Turkish government to attract more foreign homeowners.
The law is a major change from the three-month permit currently allowed to foreigners. It would also make home buying more attractive to the Middle East and non-European nations who have previously had a hard time obtaining visas, according to local media reports………………………………………..Full Article: Source

PH property market to remain buoyant

Posted on 02 May 2013 by Laxman  |  Email |Print

The local property market remains buoyant on the back of “momentous” economic growth and confidence arising from the Philippines’ new investment grade rating, resulting in a sustained increase in property values and rental rates in key central business districts of Metro Manila.
This was based on the first quarter 2013 report issued by property consultants Colliers International that was released Tuesday, which said that the government’s newly minted investment grade status would result in greater activity in the property market for years to come………………………………………..Full Article: Source

Positive signs abound for housing

Posted on 30 April 2013 by Laxman  |  Email |Print

The recovery in the housing market is continuing its slow and steady recovery. The most recent data point showed pending home sales rising by 1.5% in March which reverses the February decline. According to the National Association of Realtors the pending home sales index increased to 105.7 in March from the 104.1 it hit last month. This represents a solid 7% year-over-year increase for the index.
Overall, the association’s chief economist, Lawrence Yun, pointed out that “contract activity has been in a narrow range in recent months, not from a pause in demand but because of limited supply.” He sees closings ending up modestly as the year progresses. All of which points to continued modest gains for a housing market that’s been lackluster for the past few years………………………………………..Full Article: Source

Dubai defies luxury property slowdown with 5.4 pct rise in prices

Posted on 30 April 2013 by Laxman  |  Email |Print

Dubai has defied a global slowdown in the luxury property market after witnessing a 5.4 percent rise in prices during the first quarter of this year, according to Knight Frank. The emirate came fourth in a ranking of the world’s luxury property markets, behind only Jakarta, Bangkok and Miami in terms of price rises, the property consultancy said.
Prices of luxury villas and apartments in the emirate rose by 5.4 percent in the first quarter compared with the final three months of 2012, Knight Frank said. That represented an 18.3 percent increase on the first quarter of last year………………………………………..Full Article: Source

Will residential real estate suffer same fate as gold?

Posted on 26 April 2013 by Laxman  |  Email |Print

With gold prices currently on the descent, many investors are asking themselves if residential real estate prices will follow. Gold and real estate are the two primary investment routes for retail investors in India, so this is definitely a valid question to ask.
The performance of residential real estate as an asset class is doubtlessly dependent on the macro-economic factors that also dictate the performance of other asset classes, including gold. Nevertheless, the correlation between gold and real estate prices is not as distinct as one may at first assume. Price movements in the real estate sector are the result of supply and demand. This is true for gold as well, but the demand drivers for real estate are not the same as for precious metals………………………………………..Full Article: Source

How to fix the great real estate after-bubble

Posted on 26 April 2013 by Laxman  |  Email |Print

There’s an additional reason the Wall Street property grab will injure struggling homeowners: Single family homes make a truly lousy absentee investment. Many of us who have become accidental landlords — after moving or the death of a parent — have learned that management easily becomes a nightmare. The very nicest people can turn into “tenants from hell” — such as drug addicts.
Then there’s the rent. “My check bounced? Are you sure? I promise I’ll get you another check as soon as my paycheck comes in.” Worse, there’s maintenance. “I know it’s three AM, but my toilet is plugged up and overflowing.” “Have you tried using the plunger?”……………………………………….Full Article: Source

Confidence in the UK construction sector at its highest since end of 2007

Posted on 26 April 2013 by Laxman  |  Email |Print

In the last quarter some 10% more surveyors across the country reported rising workloads and one of the main drivers behind this was the boost in private housing construction.
While still historically low, the boost in house building would suggest that some of the government initiatives are quietly beginning to breathe life back into parts of the nation’s property sector, says RICS………………………………………..Full Article: Source

International property investors should beware London traps, says Riverside Capital’s Dominic Wright

Posted on 26 April 2013 by Laxman  |  Email |Print

Overseas investors looking to buy into the UK commercial property market are entering an extremely popular market and without proper knowledge and guidance they can find their investments have not been best placed.
Considered a safe haven, the London property market in particular has seen massive levels of investment in 2012 - around £16bn. Compare that to less than £4bn going into the New York property market in the same time frame and it provides a clear indication of just how attractive a location London is for overseas investors………………………………………..Full Article: Source

Property prices in Delhi-NCR up 20pct over 2012

Posted on 26 April 2013 by Laxman  |  Email |Print

Delhi and the adjoining National Capital Region (NCR) has seen a 20 per cent rise in property prices over the past year, the highest among all metropolitan regions in the country, according to a report.
The highest growth was seen in Sector 112 of Gurgaon, where capital values rose 72 per cent in the first quarter of 2013 over the same quarter in 2012, said the report by 99acres.com, which has taken into account seven major cities across India………………………………………..Full Article: Source

Fiji: Real estate market improves

Posted on 26 April 2013 by Laxman  |  Email |Print

The real estate market in Fiji has picked up momentum considering the tough environment since the global financial crisis in 2007-2008.Naisoso Island Fiji managing director Bob Lowres said they continued to receive interest from local and overseas property investors for their land and apartments priced from $600,000.
“We all need to work together to put our best foot forward to the rest of the world. Fiji is an amazing place to live in and making sure people understand that there is far more to living here than just white sandy beaches and clear blue water is really important. It’s safe, it’s friendly, it’s excellent value and it’s only a few hours away from Australia and New Zealand,” he said………………………………………..Full Article: Source

Housing rebound in U.S. hampered by success as costs soar

Posted on 25 April 2013 by Laxman  |  Email |Print

Even as U.S. housing rebounds from its worst downturn since the 1930s, production bottlenecks are pushing up building-materials costs, land prices are rising and skilled labor ready to begin work is hard to find.
Suppliers of glass, drywall and wood products, who reduced output during the slump, are testing the vigor of the rebound by boosting prices before committing to restore capacity. Builders, including Lennar Corp. (LEN), Toll Brothers Inc. (TOL) and KB Home, are asking homebuyers for more money as a result or are delaying sales, posing a temporary hurdle for the industry that has become one of the pillars of the economic expansion………………………………………..Full Article: Source

‘US real estate market in free fall’

Posted on 25 April 2013 by Laxman  |  Email |Print

The U.S. real estate market is in a “state of free fall” despite the U.S. government and big banks manipulating the market to stabilize it, says Mike Harris, financial editor at Veterans Today.
On Wednesday, the Washington Post said that according to a report from the special inspector general for the Troubled Asset Relief Program, American homeowners who received loan modifications under a federal government program are defaulting on their mortgages at an alarming rate………………………………………..Full Article: Source

Growing pains for the housing market

Posted on 25 April 2013 by Laxman  |  Email |Print

The modest decline in existing home sales in March in Monday’s update from the National Association of Realtors (NAR) prompted some pundits to wonder if the housing rebound is topping out. Anything’s possible, but the reason why sales slipped in March suggests that the market’s suffering from growing pains rather than facing a cyclical turn for the worse.
The issue to consider is the supply of existing homes for sale. Although the inventory of units for sale turned up slightly last month, for the second time in a row, the rise follows several years of falling supplies. Demand, however, keeps rising………………………………………..Full Article: Source

Warsaw’s property sector experiencing five minutes of fame

Posted on 25 April 2013 by Laxman  |  Email |Print

Warsaw’s growing role as a financial and business hub is showing in its central business district, where cranes are a regular feature of the skyline and ambitious building projects are going ahead.
Poland’s capital – the largest and most liquid office market in central Europe – is at the heart of the region’s commercial property market………………………………………..Full Article: Source

Chinese cash flowing to overseas property

Posted on 25 April 2013 by Laxman  |  Email |Print

In 2012, Chinese capital directed at overseas commercial investment totaled $4 billion, a 33 percent increase from the year before, according to new data from Jones Lang LaSalle.
The amount of money flowing out of China to cross-border real estate investment is a sharp contrast to the recent past. Out of the total Chinese capital invested in real estate in 2003, just two percent went overseas, JLL reports. In 2012 it increased to 26 percent, according to JLL………………………………………..Full Article: Source

Malaysia: 5pct to 10pct property price correction seen

Posted on 25 April 2013 by Laxman  |  Email |Print

Luxury condominiums and even landed property may face a 5%-10% price correction this year in response to a slower occupancy rate last year.This does not, however, mean that property prices would start to tumble as overall mass market housing would be able to sustain slower growth.
According to real estate services provider CH William Talhar & Wong managing director Foo Gee Jen, the occupancy rate among luxury condominiums in Kuala Lumpur registered only 67% last year, which was “not a very healthy sign”………………………………………..Full Article: Source

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