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Housing market growth in March

Posted on 03 May 2013 by Laxman  |  Email |Print

Western Australia, Victoria and Tasmania took the housing market cake in March, according to the latest figures from market research group Residex. Each market experienced growth in the house and land market as well as the unit market.
New South Wales, however, was the worst country performer for the month, recording negative growth in both the house and land market and the unit market………………………………………..Full Article: Source

US: Housing market accelerates

Posted on 02 May 2013 by Laxman  |  Email |Print

Home prices are rising at the fastest rate in seven years, with some communities seeing double-digit gains, as buyers are returning to a market where the number of properties for sale is in short supply.
Prices increased 9.3% in February from a year earlier while mortgage-interest rates hovered near record lows, according to the Standard & Poor’s/Case-Shiller index that tracks home prices in 20 major metropolitan areas. All 20 cities posted year-over-year gains for the second consecutive month, which hasn’t happened since 2005, before the crash………………………………………..Full Article: Source

Enough with the happy housing talk — House prices will be flat for 10 years

Posted on 02 May 2013 by Laxman  |  Email |Print

More good news on the housing market. The S&P/Case-Shiller Home Price index posted its biggest annual increase since 2006—just before the housing market crash.
Home prices in all 20 metro areas included in the index rose for the second month running. Phoenix led, with a 23% annual increase followed by San Francisco (18.9%), Las Vegas (17.6%) and Atlanta (16.5%). Still, Robert Shiller, co-creator of the index, is cautious. “There’s a lot of excitement in the housing market now but it might be just short term,” he tells The Daily Ticker………………………………………..Full Article: Source

U.K. property prices little changed as Nationwide sees momentum

Posted on 02 May 2013 by Laxman  |  Email |Print

U.K. house prices were little changed in April, according to Nationwide Building Society, which said there are signs of momentum in the property market.
The average cost of a home fell 0.1 percent from March to a seasonally adjusted 165,586 pounds ($257,000), the Swindon, England-based customer-owned lender said today. From a year earlier, prices rose 0.9 percent, the biggest annual increase in 14 months………………………………………..Full Article: Source

Scotland: Housing market showing signs of recovery

Posted on 02 May 2013 by Laxman  |  Email |Print

House prices recorded their strongest annual increase in more than a year in April, amid further signs that the market is seeing a pick-up, Nationwide reported.
The 0.9 per cent year-on-year rise took average prices to £165,586, and activity is likely to strengthen further in 2013, the building society’s latest study said. On a month-on-month basis, prices dipped by 0.1 per cent following a flat March………………………………………..Full Article: Source

Austrian housing market to remain buoyant in 2013

Posted on 02 May 2013 by Laxman  |  Email |Print

After almost nine years of continuous house price rises, the Viennese housing market remains buoyant. However, house price rises are now slowing.
The residential property price index in Vienna, the capital, rose by 13.09% (10.02% inflation-adjusted) during 2012, its ninth consecutive year of continuous house price rises, according to Oesterreichische Nationalbank. However on a quarterly basis, house prices in Vienna actually dropped 0.65% (-1.61% inflation-adjusted) in Q4 2012, its first quarterly drop since Q2 2011………………………………………..Full Article: Source

State of the S.Africa property market

Posted on 02 May 2013 by Laxman  |  Email |Print

The latest issue of Rode’s Report on the SA Property Market reveals a modicum of good news for the industrial property market, says property valuer and economist Erwin Rode of Rode & Associates.
On a national basis, the yearly growth in industrial rentals is slowly heating up, seemingly benefiting from the lagged impact of declining vacancy rates. “In fact, such has been the acceleration in the growth of market rentals in this sector that in the fourth quarter of 2012, prime rentals recorded a nationally averaged growth rate of 7%, with the strongest yearly growth of 9% being achieved in the Cape Peninsula.” Disappointing, however, is that the national average still failed to be in excess of building-cost inflation. “Hence, we are not yet out of the woods,” cautions Rode………………………………………..Full Article: Source

Doha property market stable

Posted on 02 May 2013 by Laxman  |  Email |Print

Property sales in Doha have carried on at a swift pace, with the total value of transactions increasing by an estimated 2% in the first quarter of 2013.
The latest Asteco Q1 2013 Qatar report points out that, compared to fourth quarter 2012, there has been a 6% increase in total transaction value and an 8% growth in the number of villa transactions. During the same period, the total value of transactions for apartments fell by 56%. On the whole, there was a 2% decline in sale volume across all sectors………………………………………..Full Article: Source

HK property market begins to adjust under gov’t cooling measures

Posted on 02 May 2013 by Laxman  |  Email |Print

The second-hand home sales in Hong Kong are picking up slightly recently after an unusually sluggish transaction volume in March, with property owners axing prices to entice home buyers.
The transaction volume of the city’s secondary residential properties plunged to around 2,300 in March, the lowest monthly volume in almost 10 years compared with the 2,135 during the SARS outbreak in 2003, according to the data provided by Centaline Property Agency Limited………………………………………..Full Article: Source

Is Hong Kong’s property bubble about to burst?

Posted on 02 May 2013 by Laxman  |  Email |Print

It’s one of the big questions in global finance these days. Hong Kong has the highest home prices among major global cities, including London, New York and Tokyo, according to a report by the international property consultancy Savills.
Many believe the market is ripe for a setback, although opinions differ on how serious………………………………………..Full Article: Source

Australia: Housing prices fall in April

Posted on 02 May 2013 by Laxman  |  Email |Print

The fledgling recovery in the Australian housing market stalled in April as property prices drifted lower. Home prices across Australia’s eight capital cities fell by half a per cent in April, partly reversing gains made since the start of 2013.
Prices rose by an average of 2.8 per cent in the first three months of the year, according to the RP Data-Rismark Home Value Index………………………………………..Full Article: Source

NZ: Housing a sellers’ market says real estate website

Posted on 02 May 2013 by Laxman  |  Email |Print

The realestate.co.nz website says the housing market is very much a sellers’ market. It recorded that new listings of houses available for sale fell 21% in April following a 3% decline in March.
The website, on which about 95% of the houses available for sale in New Zealand are listed, says new listings are far from matching demand with sales across the country up 11%………………………………………..Full Article: Source

Thoughts on the housing market recovery

Posted on 30 April 2013 by Laxman  |  Email |Print

The U.S. housing market is no longer a basket case. Data from the S&P/Case-Shiller Home Price Indices show that average home prices in an assortment of American cities have been on the upswing, increasing by almost 7 percent across the country in 2012. Recent reports that sales of new single-family homes rose in March are proof points that “the housing market recovery remains on track.”
Nicolas P. Retsinas is a Senior Lecturer in Real Estate at Harvard Business School, Director Emeritus of Harvard University’s Joint Center for Housing Studies, and former Federal Housing Commissioner………………………………………..Full Article: Source

Pending sales of existing homes in U.S. climbed 1.5pct in March

Posted on 30 April 2013 by Laxman  |  Email |Print

More Americans than forecast signed contracts in March to buy previously owned homes, another indication of progress in the housing market.
The index of pending home sales increased 1.5 percent after a revised 1 percent decline the prior month that was larger than initially reported, figures from the National Association of Realtors showed today in Washington. Economists forecast a 1 percent increase, according to the median estimate in a Bloomberg survey………………………………………..Full Article: Source

The hottest housing markets of 2013

Posted on 30 April 2013 by Laxman  |  Email |Print

After a long and painful downturn in the housing market, home prices are finally beginning to head north. According to Zillow, a real estate listing website, home values rose 5.1% across the United States between February 2012 and February 2013.
Many local housing markets are performing considerably better than the country as a whole. Home values rose more than 13% in 10 of the 30 largest housing markets for which Zillow has data, and rose more than 20% in five of them. The biggest growth of all took place in Phoenix, where home values rose 24%………………………………………..Full Article: Source

Buyers driving housing recovery, not investors

Posted on 30 April 2013 by Laxman  |  Email |Print

Investors may have kick-started the housing recovery, buyers are truly driving the market, research shows. Recent reports point to strength in the non-distressed or conventional sales market, which is dominated by current homeowners and first-time home buyers.
According to the Campbell/Inside Mortgage Finance Survey released last week, investors accounted for just 21.8% of home sales in March. Investors accounted for only 13% of sales of non-distressed properties, the largest segment of the market. Current homeowners had a 50% market share and first-time homebuyers a 37% share of the non-distressed housing market………………………………………..Full Article: Source

7 tips for landing your dream home

Posted on 30 April 2013 by Laxman  |  Email |Print

The real estate market has flipped from a buyer’s market to a seller’s market in just a short time. While there are still great deals to be had, buyers need to be more creative, savvy and educated about their local housing market to land the home of their dreams.
Housing inventory is down 40 percent or more from two years ago in some markets, and that means stiff competition for the best houses. But there are methods to beat other buyers to the property you covet, some conventional and some more unusual………………………………………..Full Article: Source

London property market hits 2007 levels as prices rise for third month in a row

Posted on 30 April 2013 by Laxman  |  Email |Print

London’s booming property market helped house prices rise for the third month in a row in April, as conditions in the capital’s housing market reached levels not seen since 2007.
Prices increased by 0.3% month-on-month across the country, following a similar uplift in March, with a 0.7% rise in London driving the rate of growth, a study by Hometrack found. Demand from new buyers registering with estate agents in London has grown three times faster than the rate of homes coming on the market over the last three months, the study said………………………………………..Full Article: Source

Sales on secondary housing market in Baku rose nearly by 3pct in March

Posted on 30 April 2013 by Laxman  |  Email |Print

The supply decreased by 4.4% in the secondary housing market of Baku. Public organization “Property Market Participants” informs that totally 5,700 apartments were proposed for the market in March.
“Last month, 78.7% of the portfolio of the secondary housing market was formed from flats in Yasamal, Nasimi, Narimanov and Khatai districts of Baku, which is associated with the transition of apartments from the primary market to the secondary market in these districts,” PMP said………………………………………..Full Article: Source

Sharjah residential rents rise 15pct since October

Posted on 30 April 2013 by Laxman  |  Email |Print

According to Cluttons, a real estate consultancy, the increase in rent is due to demand outstripping supply for the first time since the global financial crisis.
Apartments in popular areas such as Al Majaz, Al Nahda and Al Qassimiya saw an average rental increase of 10 to 15 per cent since October 2012. In areas such as Sharghan, Al Fisht and Al Falaj, villa rents went up a similar 15 per cent due to strong growth in demand and a lack of quality stock………………………………………..Full Article: Source

Australia: Is the property market getting back to normal?

Posted on 30 April 2013 by Laxman  |  Email |Print

There are many differences between the Australian, Britain and US property markets but these overseas markets can be terrific barometers for us.
In recent years, the overseas markets were devastated, with a slump in value, markets swamped with desperate sellers and innumerable foreclosures.Those few buyers who were around found it difficult to get finance as credit and lending dried up. The picture was not good………………………………………..Full Article: Source

15-year mortgage rate hits record low

Posted on 26 April 2013 by Laxman  |  Email |Print

The 15-year fixed rate fell to 2.61% this week from 2.64%, The previous record low of 2.63% was set the week of Nov. 21, 2012.An adjustable-rate mortgage, the 5/1 ARM, also bottomed out at 2.58%. The most popular mortgage, the 30-year fixed-rate, came in at 3.4%, 0.09 percentage point above its record low.
“The housing market is getting a boost, with mortgage rates hovering at or near record lows,” said Frank Nothaft, Freddie’s chief economist………………………………………..Full Article: Source

Spanish real estate prices near bottom, Santander CEO Saenz says

Posted on 26 April 2013 by Laxman  |  Email |Print

Banco Santander SA (SAN)’s decision to “retract” as much as 1 billion euros ($1.3 billion) of provisions to cover property price declines may show Spain’s real estate market is close to its lowest point, Chief Executive Officer Alfredo Saenz said.
Santander, Spain’s biggest bank, set aside the funds for for this year to cover the risk that price declines would accelerate. The bank is “retracting” the provision because it now doesn’t expect it will be needed, he said……………………………………….Full Article: Source

Kuwait: Addressing the housing shortage

Posted on 26 April 2013 by Laxman  |  Email |Print

In March 2013 the government revealed plans to build 174,000 new houses and three separate cities by 2020, two near the Iraqi border in the north, and one on the Saudi border in the south. Although no official price tag has been given for the project, estimates put the cost at around $5bn.
Under Kuwaiti law, the country’s 1.2m nationals are entitled to apply for government housing after marriage, receiving loans that are paid off in small instalments over 30 years. However, despite the state’s $400bn oil surplus, applications for housing now outstrip supply by more than 100,000 and will grow by an estimated 8000 applications each year, local media has reported………………………………………..Full Article: Source

UK: Confidence in housing market surges

Posted on 26 April 2013 by Laxman  |  Email |Print

Confidence in the housing market among homeowners has soared to its highest level in three years, a property search website has reported.Almost three-quarters of homeowners (74%) expect house prices in their area to rise by September, with the predicted increase averaging 4.5%, in further evidence that the market is starting to “turn a corner”, Zoopla said.
Both the proportion of people forecasting house price increase and the typical size of the anticipated increase are the highest figures recorded in around three years by the quarterly study, which began in 2009………………………………………..Full Article: Source

‘Abenomics’ boosts Japan property market

Posted on 26 April 2013 by Laxman  |  Email |Print

The return of Japan Prime Minister Shinzo Abe and his monetary policy known as “Abenomics” is jump starting the country’s sluggish property sector, many analysts believe.After years of austerity, Mr. Abe is pouring money into the economy and the Bank of Japan is buying financial assets, including Japanese real estate trusts (J-REITs), the Financial Times reports.
“The policies being implemented at the moment are generally seen as positive for real estate,” Andy Hurfurt, head of investment consulting at CBRE in Tokyo, told the paper. “To a degree the BoJ is telling people that they are going to underwrite the J-REIT market.”……………………………………….Full Article: Source

Australia: Property values to double?

Posted on 26 April 2013 by Laxman  |  Email |Print

The S&P/ASX 200 has made significant gains this year on the back of heavy investments made in blue-chip stocks. Recent turbulence in the mining industry and overseas markets has left many investors wondering whether the share market has run its race, and whether now may be the time to take their profits and seek gains elsewhere.
The solution that those investors are looking for may have been answered by RP Data, which released results suggesting that the value of Australian properties are set to soar. According to the results, a total of 263 suburbs in Australia have recorded an average annual growth rate of above 7.2% over the past five years – 68 of which are located in Melbourne………………………………………..Full Article: Source

Zillow CEO Spencer Rascoff: Pulling back the veil on the housing market

Posted on 25 April 2013 by Laxman  |  Email |Print

Online real estate marketplace Zillow has brought to home buying and selling what a previous generation of travel websites provided to shoppers wanting to compare the prices of hotels, rental cars and airline flights — transparency. But finding data that is reliable across the board can be difficult, according to Zillow CEO Spencer Rascoff. And the key is not just simply to offer the information, Rascoff said during a recent conversation with Knowledge@Wharton and Wharton real estate professor Susan M. Wachter; it’s about the various sub-models the company’s software incorporates.
Zillow has a database of more than 110 million U.S. homes that includes homes for sale and homes for rent. It also incorporates Zestimate, which helps calculate home values. Zillow is the leading real estate website, Rascoff notes, but only about 12% of Americans have heard of it………………………………………..Full Article: Source

Housing market sprouting spring blossoms: CEOs

Posted on 25 April 2013 by Laxman  |  Email |Print

An ongoing rebound in the new home market is leading to better sales of building materials like roofing as well as new appliances, two CEOs told CNBC.
“We had a great quarter in roofing,” Owens Corning CEO Michael Thaman told CNBC’s “Street Signs” on Wednesday. “We’re seeing insulation, despite the fact that it’s losing money, move back into profitability. And we think composites will begin to turn the corner in the second quarter and improve in the second half.”……………………………………….Full Article: Source

UK: Banks report housing market boost and predict increase in first-time buyers

Posted on 25 April 2013 by Laxman  |  Email |Print

There was a faint whiff of possible good news for homeowners in the latest mortgage statistics published on today. Mortgage approvals climbed slightly in March, suggesting government moves to bolster the property market may be beginning to be successful.
Some 31,227 home loans worth £4.8bn were approved in the month, according to the British Bankers’ Association, up from a seven-month low of 30,579 in February.The BBA said the February slump was because of a seasonal winter slowdown, but it was cautious about signalling a recovery………………………………………..Full Article: Source

Chinese investment boom in properties of Seoul metropolitan area

Posted on 25 April 2013 by Laxman  |  Email |Print

More than 2,000 people flocked to the first floor of Sydney`s Town Hall in Australia on April 14. Ethnic Chinese living in Australia and those flying from China and Hong Kong participated in the “2013 Chinese Sydney Property Expo,” which introduced realty products in Australia to Chinese investors who have emerged as “big shots” on the global real estate market. Twenty seven companies installed promotional booths and introduced apartments and high-end houses worth between 700,000 and 8 million Australian dollars each, in a race to sell them.
With the Korean property market in a protracted slump, domestic investors have shunned real estate investment, but foreigners are creating increasingly strong investment fever in the realty market here………………………………………..Full Article: Source

Singapore: Private home owners make profit from reselling their properties

Posted on 25 April 2013 by Laxman  |  Email |Print

Non-landed private property owners have earned a total of S$107 million in gross profit from reselling their properties after project completion since the first quarter of 2012.This is according to a research report by property agency OrangeTee.
The report noted that property owners who had invested in the prime residential sector reaped the highest return in dollar terms, with an average profit of S$410,000 per unit.Meanwhile, mass-market property owners in the Outside Central Region (OCR) had the highest average percentage capital gain of 41 per cent………………………………………..Full Article: Source

Australians incite bidding wars as rates spur rebound: Mortgages

Posted on 25 April 2013 by Laxman  |  Email |Print

Australians selling properties are increasingly turning to auctions as interest rates matching the lowest in 50 years fuel demand for homes in the country’s largest cities.
In Sydney, the most-populous city, almost two-thirds of homes offered at a public sale found buyers in February and March, the highest level since April 2010, according to data from researcher Australian Property Monitors. In Melbourne, the second-biggest city and largest market for auctions, the proportion rose to 68 percent in February, the highest since May 2010, the figures show………………………………………..Full Article: Source

Sales of new homes in U.S. climb 1.5pct to 417,000 rate

Posted on 24 April 2013 by Laxman  |  Email |Print

Sales of new U.S. homes advanced in March as near record-low mortgage rates helped the industry complete the strongest quarter since 2008, putting the economy on firmer footing.
Purchases of single-family properties climbed 1.5 percent last month to a 417,000 annual pace, Commerce Department figures showed today in Washington. The median estimate of 76 economists surveyed by Bloomberg called for March sales to rise to 416,000………………………………………..Full Article: Source

The housing market: Not your analyst’s oldsmobile?

Posted on 24 April 2013 by Laxman  |  Email |Print

Housing’s long-awaited recovery has him recalling his younger days. About “18 months ago, the industry was nothing much to look at: dilapidated foreclosures were flooding the market, home equity had suffered the worst retrenchment in a generation, and housing starts and sentiment were far below historic troughs levels. But after stabilizing in 2012, both new and existing home prices are now accelerating much more rapidly than in the 1990s cycle.”
Mr. Kim tells Developments that his dad gave him the vehicle and the engine cracked after it was driven too hard………………………………………..Full Article: Source

Trulia: Housing market inching closer to ‘normal’

Posted on 24 April 2013 by Laxman  |  Email |Print

The housing market continued to trudge towards a recovery in March, with rising construction starts and falling foreclosure and delinquency rates bringing market conditions closer to those of a balanced one, according to Trulia’s Housing Barometer.
The barometer summarizes three key housing market indicators — construction starts, existing home sales, and the delinquency-plus-foreclosure rate — looking at how current conditions compare to those recorded at the depths of the housing crisis and those recorded before the housing bubble………………………………………..Full Article: Source

Does build-to-let offer a secure future for the private rented sector?

Posted on 24 April 2013 by Laxman  |  Email |Print

After many years of talk, there is finally some action in the build-to-let market. Prudential’s recent modest return to the housing sector after a 30-year hiatus is hugely symbolic; it welcomes a former mainstay back in the door and illustrates they have the confidence to invest once more in housing.
There was a time when almost everyone rented their home. From the end of the first world war until the proliferation of home ownership in the 1980s, most people rented either from the government or from a large institution such as Prudential………………………………………..Full Article: Source

Spain property-sale efforts face a snag

Posted on 24 April 2013 by Laxman  |  Email |Print

Facing a bank eviction, Pepi Cáceres began to pack up her family’s belongings to move when they were spared at the last minute by a decree by the leftist leadership of Andalusia, Spain’s largest autonomous region.
Defying the conservative central government in Madrid, Andalusia this month implemented measures that will temporarily stop evictions and penalize banks and real-estate firms for holding hundreds of thousands of vacant properties. It favors people hurt by Spain’s recession over of the interests of the country’s lenders, including many that have received government bailouts………………………………………..Full Article: Source

Dubai’s real estate sector posts 16th straight month of steady recovery in March, Deutsche Bank says

Posted on 24 April 2013 by Laxman  |  Email |Print

Signalling a return of investor confidence, Dubai property prices and rents recorded their sixteenth consecutive monthly increase in March, Deutsche Bank said in a press release on April 22. The global investment bank cited figures from its latest research report showing that apartment prices were up by 1.5 percent, while the cost for villas in the emirate increased by 1.6 percent from February to March. Rental values showed similar trends, with apartments up one percent and rental rates for villas rising 0.7 percent month on month.
According to the report, price gains were recorded across most areas of the emirate, with Jumeirah Island leading the way with a nine percent increase. Palm Jumeirah villas were featured at the bottom of the table with a negative six percent change in prices………………………………………..Full Article: Source

Is there a Chinese housing bubble?

Posted on 24 April 2013 by Laxman  |  Email |Print

Shanghaiist is pleased to present this exclusive excerpt from Landed China: Key Local Knowledge You Need When Buying Property, by Christopher Dillon. Christopher is an award-winning author who has previously written about buying property in Hong Kong and Japan.
As this book went to press, many people were debating whether China was in the middle of a real estate bubble. The answer to that question is complex and a lot is riding on it………………………………………..Full Article: Source

Australia: National housing market starts to recover

Posted on 24 April 2013 by Laxman  |  Email |Print

Australia’s housing market appears to be in the midst of a recovery, with prices rising at their strongest level for more than two years in many capital cities.
The new figures come as a senior Reserve Bank of Australia official cautioned on Tuesday that market conditions were shifting to a ”new normal” where price growth would be slower than the country had witnessed over the past 30 years………………………………………..Full Article: Source

US: Existing home sales edge down, prices rise

Posted on 23 April 2013 by Laxman  |  Email |Print

Home resales edged downward in March, pointing to some slowdown in the housing market recovery pace as overall economic activity cools.The National Association of Realtors said on Monday existing home sales slipped 0.6 percent last month to a seasonally adjusted annual rate of 4.92 million units.
Economists polled by Reuters had expected home resales to rise to a 5.01 million-unit rate.”The disappointing pace of home sales provides some evidence that positive momentum in the housing sector is beginning to leak lower,” said Millan Mulraine, a senior economist at TD Securities in New York………………………………………..Full Article: Source

Big investment firms jumping into housing market, pushing up prices

Posted on 23 April 2013 by Laxman  |  Email |Print

Investment firms are scooping up homes in distressed real estate markets, like Florida, blocking out individual bidders, experts say.
“There is the possibility that Wall Street and the banks and the affluent 1 percent stand to gain the most from this. Meanwhile, lower-income Americans will lose their opportunity for the American dream of building wealth through owning a home,” said Jack McCable a real estate consultant in Deerfield Beach, Fla………………………………………..Full Article: Source

How to profit from the housing recovery

Posted on 23 April 2013 by Laxman  |  Email |Print

The U.S. housing market is on the mend. According to the S&P/Case-Shiller Home Price Index, the average price of U.S. homes hit bottom in January 2012 and rallied 8% through January of this year, the most recent month for which data is available.
Shares of homebuilders, which were brutalized during the 2007-09 bear market, have soared as the housing outlook has improved. On average, the stocks have climbed 260%, or 38% annualized, since the group hit its bear-market low on March 6, 2009 (prices are through April 19 unless otherwise noted)………………………………………..Full Article: Source

Calgary industrial real estate market active

Posted on 23 April 2013 by Laxman  |  Email |Print

All signs are indicating that the Calgary industrial real estate market will continue to thrive and grow this year, says a new report by Cushman & Wakefield.
The company said overall vacancy in the sector was 6.6 per cent in the first quarter of this year, up from 6.2 per cent in the first quarter of 2012. Net asking rents have jumped to $8.63 per square foot per year from $7.89 last year………………………………………..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

Netherlands: Housing market may be picking up, more inquiries made to advisors

Posted on 23 April 2013 by Laxman  |  Email |Print

The Netherlands two biggest mortgage advisory groups are reporting signs that the housing market may be picking up, the Financieele Dagblad reports on Monday.
The paper says the high-street chains Hypotheker and Hypotheekshop have noted the first rise in the number of clients asking for information about buying a house for some time………………………………………..Full Article: Source

Riyadh needs 30,000 new residential units annually

Posted on 23 April 2013 by Laxman  |  Email |Print

Surplus, undeveloped residential plots around Riyadh are estimated to be 490 square kilometers in total, a new study by the High Commission for the Development of Riyadh (HCDR) shows. The present demand for residential lands in the city can be met by only 30 percent of these plots.
The study measures supply and demand indicators of property development in Riyadh in 2012 and estimated that there would be a total demand for 510,000 homes in the city by 2028. The study calculated that 30,000 residential units would be required annually………………………………………..Full Article: Source

Bahrain’s property market has bottomed out - CBRE

Posted on 23 April 2013 by Laxman  |  Email |Print

Bahrain’s real estate market has bottomed out but continuing political unrest is still holding back an upturn, CB Richard Ellis has said in a new report.
The real estate firm said the residential leasing sector in most areas has now stabilised in terms of their occupancy and rate………………………………………..Full Article: Source

Macau: High prices strangling second-hand market: Realtor

Posted on 23 April 2013 by Laxman  |  Email |Print

The second-hand real estate market is being negatively impacted by a mismatch between the prices asked by sellers and bank valuations, Centaline (Macau) Property Agency Ltd writes in its latest market review.
The realtor’s March review says bank valuations of second-hand homes are far from the prices asked by sellers, adding to the buyers’ down payment costs, our sister publication Business Daily reports………………………………………..Full Article: Source

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