Tue, Jul 22, 2014
A A A
Welcome hendrik.absolut
RSS

Real Estate Briefing - Category | Finance more

The world’s most expensive real estate markets

Posted on 08 March 2013 by Laxman  |  Email |Print

Monaco remains the most expensive residential real estate market in the world, with luxury homes costing anywhere from $5,350 to $5,920 per square foot, according to a new wealth report from Knight Frank. While real estate prices in the tiny country are consistently high, Monaco saw a bump this year as buyers shied away from French hotspots in reaction to President Hollande’s wealth tax proposals, the Knight Frank report said.
And Monaco, which does not charge a personal income tax, was particularly popular with Russian buyers over French markets, according to the report. Luxury real estate prices there increased 2 percent year over year. Prices in 2012 jumped the most in Indonesia, where they increased 38 percent in Jakarta and 20 percent in Bali………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Moody’s: US state housing fin agencies still face risks

Posted on 08 March 2013 by Laxman  |  Email |Print

The credit quality of US state finance agencies is still at risk from low mortgage rates and home prices, high unemployment and uncertainty over federal policy, Moody’s Investors Service said on Thursday. Despite signs of life in the housing market, the ratings agency is keeping its negative outlook for the entire state housing finance agency sector, it added. The agencies “weathered the recession well,” Moody’s said.
According to the credit rater, the agencies maintained a steady median asset-to-debt ratio of approximately 1.2 throughout the 2007-09 recession, and their median profitability has now stabilised between eight per cent and nine per cent over the last three years after dropping in 2007………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Household worth in U.S. rises by $1.17 trillion on housing

Posted on 08 March 2013 by Laxman  |  Email |Print

Household wealth in the U.S. climbed in the fourth quarter to the highest level in five years, propelled by a gain in home prices that is helping repair family finances.
Net worth for households and non-profit groups increased by $1.17 trillion from October through December, or 1.8 percent from the previous three months, to $66.1 trillion, the Federal Reserve said today from Washington in its flow of funds report. It was the highest since the fourth quarter of 2007………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Fed’s Fisher: Tapering Fed’s bond buys could help housing market

Posted on 08 March 2013 by Laxman  |  Email |Print

Slowing the current pace of the Federal Reserve’s asset purchases could paradoxically help the U.S. housing market, a top Fed official said on Thursday.
“It’s quite possible in my view … that a little tapering there would actually would make people realize that we’ve bottomed out on the interest rate cycle,” Dallas Fed President Richard Fisher told Fox Business News. “I think you’d actually see more activity than you are currently seeing.”……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

China’s ‘ghost cities’ warn of property bubble: Chanos

Posted on 08 March 2013 by Laxman  |  Email |Print

Avoid investments that rely on the Chinese real estate market because the bubble there is getting “bigger, and bigger, and bigger,” hedge fund manager Jim Chanos told CNBC on Thursday. “Anything that’s depending on the Chinese economic miracle I would be careful of,” Chanos said.
The founder of Kynikos Associates, said it was “somewhat controversial” when he started to warn about real estate in China three years ago. But he added, “[the] property bubble is visual. You can’t miss it [now].”……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Is Australian property worth the risk?

Posted on 08 March 2013 by Laxman  |  Email |Print

Those looking to the RBA for succour that property price rises are inevitable are only seeing half the picture. In the post-GFC environment, APRA is just as important to credit availability. It is APRA that has to date forced banks to lend dollar for dollar on deposit growth. This means that there is an implicit macroprudential constraint on the distribution of credit, even if the price is cheap. By that I mean considerably tighter credit standards than pre-GFC.
I do not see this changing unless APRA itself changes, or is changed. And if it does not change then property price growth is inherently limited. ……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

World’s most expensive real estate markets

Posted on 07 March 2013 by Laxman  |  Email |Print

The number of High Net Worth Individuals - people with more than $30 million in investable assets – is forecast to rise by 95,000 over the next decade, according to wealth intelligence firm, Wealth-X. The result is that each year there are more people who want, and more importantly, can afford, luxury properties.
While demand is ever-rising, the stock of desirable locations remains virtually static, meaning capital inflows concentrate on a few hotspots, pushing prices upwards. We’ve put together a list of 2012’s most expensive property markets, based on research by luxury estate agent Knight Frank, ranking areas by both average property prices for the year, and price per square foot in the fourth quarter………………………………………..Full Article: Source

AIG to start loan investment unit as housing rebounds

Posted on 07 March 2013 by Laxman  |  Email |Print

American International Group Inc. (AIG), the insurer that was rescued by the U.S. government in 2008 after soured bets on mortgage securities, is building a unit to buy individual home loans amid a rebound in the housing market.
AIG plans to buy loans backed by its United Guaranty Corp. unit, the largest seller of traditional private mortgage insurance last year, according to Donna DeMaio, 54, the unit’s chief executive officer. The debt will be held as long-term investments by AIG insurance companies………………………………………..Full Article: Source

Canada: BMO on housing market: ‘Bubble fatigue? Try buyer fatigue’

Posted on 07 March 2013 by Laxman  |  Email |Print

Projections for Canada’s housing market are all over the map. But where Bank of Montreal’s concerned, residential real estate probably isn’t going to bounce back any time soon. The market has been cooling markedly since Canada introduced new mortgage restrictions in July, and some observers believe it will soon find a new floor before picking up again. Even those who don’t see a pickup on the horizon, however, aren’t forecasting a U.S.-style meltdown.
As The Globe and Mail’s Kevin Carmichael reports, the Bank of Canada suggested today that the battle against a housing bubble has now been won, and consumers are tackling their record debts………………………………………..Full Article: Source

Luxury real estate prices are soaring in Indonesia

Posted on 07 March 2013 by Laxman  |  Email |Print

Jakarta and Bali, both in Indonesia, ranked high on real estate firm Knight Frank’s new index of price growth in the world’s luxury real estate markets.
The capital city of Jakarta, where prices increased 38 percent year-over-year, topped the list this year. And Bali ranked second, tying with Dubai with a 20 percent increase in luxury real estate prices between 2011 and 2012………………………………………..Full Article: Source

20pct capital gains tax on mainland properties sparks stampede

Posted on 06 March 2013 by Laxman  |  Email |Print

The reintroduction of a 20 per cent capital gains tax on the sale of property on the mainland by the State Council last Friday triggered a stampede by home sellers and agents to register their sales with government agencies before the tax becomes effective.
Real estate exchange centres in Beijing, Shanghai, Nanjing, and Wuhan were packed with property sellers and agents over the weekend, forcing some of them to extend their opening hours until 9 pm, from 5pm on normal days………………………………………..Full Article: Source

Sell, sell, sell: Chinese homeowners scramble to shift property before 20pct capital gains tax hits

Posted on 06 March 2013 by Laxman  |  Email |Print

Hundreds of Chinese homeowners scramble to register the sales of their homes before new capital gains tax rules are introduced in a bid to stop the housing boom spiralling out of control. The scenes of panic at the Nanjing Municipal Real Estate Trading Centre were repeated across the country with the government giving virtually no warning before a mandatory 20 per cent tax is introduced.
Previously sellers were given the choice of either paying between one and three per cent of the gross transaction value, or a flat 20 per cent capital gains, with most opting for the former………………………………………..Full Article: Source

Canadian housing prices overvalued by 20pct: Fitch Ratings

Posted on 05 March 2013 by Laxman  |  Email |Print

American-based agency Fitch says house prices are overvalued by approximately 20 per cent in real terms across Canada, with regional variations. But in releasing its ratings on Monday, it said Alberta’s market is overvalued by 15 per cent.
“Because of the effects of inflation and price momentum, it is not expected that prices would drop by this amount,” said the Fitch report. “If growth halted and prices began to drop, it would be expected to take several years for home prices to revert to their sustainable values, depending on a number of factors such as government support and credit availability. With this time frame, the actual observed decline in prices could be as low as 10 per cent.”……………………………………….Full Article: Source

Saudi’s property market valued at over $500bln

Posted on 05 March 2013 by Laxman  |  Email |Print

The level of investments in real estate projects in Saudi Arabia has been valued at around $533bn (SR: 2tn), according to the chairman of Taifah Al-Aqar. Khaled Al-Ghamdi said that housing is one of the major problems facing the Kingdom, with the city of Jeddah alone requiring one million new units by 2020 as the population rises, according to Arab News.
“The Kingdom’s housing need in 2020 is estimated at 4.5m units at an estimated cost of SR: 117bn ($31.2bn) annually,” said Al-Ghamdi………………………………………..Full Article: Source

Hong Kong bubble? Hong Kong residential property prices

Posted on 05 March 2013 by Laxman  |  Email |Print

The latest release of the University of Hong Kong’s Hong Kong Residential Real Estate Series (HKU-REIS) indicates that, in December, the price of residential properties declined 0.8% since November. However, prices climbed 26.77% above the level seen in December 2011.
The HKU-REIS is a set of property price indices constructed monthly using a modified repeat-sale methodology similar to that of the S&P/Case-Shiller indices, yet suited to the Hong Kong property market………………………………………..Full Article: Source

Is a bubble developing in U.S. housing market?

Posted on 04 March 2013 by Laxman  |  Email |Print

Recently in these pages, I talked about how the government, the Treasury, and the Federal Reserve were creating an artificial economy that was supported by cheap money and low interest rates.
One of the major benefactors of this cheap money was the housing sector, which is now sizzling hot. The median price of an existing home in the U.S. was $173,600 in January, up 12.3% from an average of $154,600 a year earlier. (Source: United States Census Bureau web site, last accessed February 27, 2013.)……………………………………….Full Article: Source

UK: House price divide widens

Posted on 04 March 2013 by Laxman  |  Email |Print

London shows seasonal upturn alongside slight decreases in the north, according to monthly national housing survey. The house price divide between the south-east and the rest of England and Wales widened last month with a seasonal upturn in sales in London and slight decreases in parts of the north, according to the monthly national housing survey by the property analysts Hometrack.
Across England and Wales 14.8% of postcodes registered price rises, of which 74% were in London and the south-east. Almost half of London postcodes (48%) registered an increase in values of 0.3% on average, with Southwark, Ealing, Merton and Bexley all achieving an above-average house price increase………………………………………..Full Article: Source

Real estate bank needed to make housing affordable

Posted on 04 March 2013 by Laxman  |  Email |Print

People in the Kingdom tend to spend 40 percent of their salaries on rents and this amount even increases when they are buying homes, Gagan Suri, Vice-President and head of real estate asset management at National Commercial Bank Capital,said.
He suggested that housing will become affordable if government gives subsidized land, banks give loans to investors and developers, and people opt for apartments instead of villas. Riyadh Al-Thuqafi, CEO of Ewaan Global Residential Company, shed light on the global definition of affordable housing and the requirements of the Saudi community………………………………………..Full Article: Source

China’s property sector, just before the crash

Posted on 04 March 2013 by Laxman  |  Email |Print

On Friday, China’s State Council released a statement calling for higher down payments for second homes in cities and demanding both the collection of taxes on secondary sales and the enforcement of existing property curbs.
The document, capping Premier Wen Jiabao’s three-year campaign to cool the housing sector, comes at a time when both Beijing’s National Bureau of Statistics and private surveys show an acceleration of residential prices across China………………………………………..Full Article: Source

China’s move to enforce home sale Profit tax to curb speculation

Posted on 04 March 2013 by Laxman  |  Email |Print

The government’s pledge to strictly enforce a 20% tax on home sale profits was a necessary move to curb housing market speculation, and the government will likely achieve its goal in the near term, Mei Xingbao, president of China Orient Asset Management Co., said Sunday.
But Mr. Mei also said that it was too soon to say whether the move would actually stop prices from moving higher over the longer term………………………………………..Full Article: Source

China’s real estate bubble

Posted on 04 March 2013 by Laxman  |  Email |Print

If trouble comes in threes, then what’ll be the next global market to melt down after the U.S. and Europe? Some are looking nervously at China. China has been nothing short of a financial miracle. In just 30 years, this state-controlled economy became the world’s second largest, deftly managed by government policies and decrees.
One sector the authorities concentrated on was real estate and construction. But that may have created the largest housing bubble in human history. If you go to China, it’s easy to see why there’s all the talk of a bubble. We discovered that the most populated nation on earth is building houses, districts and cities with no one in them………………………………………..Full Article: Source

Singapore to raise property tax rates for luxury homeowners

Posted on 04 March 2013 by Laxman  |  Email |Print

Singapore plans to raise taxes for luxury homeowners and investment properties, widening a four-year campaign to curb speculation after prices in Asia’s second most expensive housing market rose to a record.
The higher tax will apply to the top one per cent of homeowners who lived in their own residences, or 12,000 properties, Singapore Finance Minister Tharman Shanmugaratnam said in his recent budget speech, without giving a definition of what constituted a high-end home………………………………………..Full Article: Source

Fitch warns on US housing finance reform

Posted on 01 March 2013 by Laxman  |  Email |Print

The profitability and dominance enjoyed by US-backed mortgage giants Fannie Mae and Freddie Mac will limit policy makers’ motivation for winding them down, Fitch Ratings has said.
The warning comes as appetite to transform the state-backed companies into private sector entities wanes in Washington, where wrangling over budget, insurance and tax issues is likely to dominate the legislative calendar in the months to come………………………………………..Full Article: Source

Bank of China makes larger push into U.S. commercial real estate

Posted on 01 March 2013 by Laxman  |  Email |Print

Bank of China Ltd. has emerged as one of the largest foreign lenders to commercial real estate in the U.S. Now the state-owned Chinese bank is looking for ways to make even more loans in a quintessential American way: packaging its loans into securities that are in turn sold in a market where demand is red hot.
Bank of China’s interest in securitization coincides with an unprecedented start for the commercial-mortgage-bond market in 2013. The Federal Reserve’s low interest-rate policies have pushed more investors from relatively safer investments to those with higher yields and greater risks………………………………………..Full Article: Source

Is China’s real estate bubble about to burst?

Posted on 01 March 2013 by Laxman  |  Email |Print

The biggest housing bubble in history created by China’s rapid growth and the massive investment in real estate by its burgeoning middle class may be about to burst. One of the country’s leading commercial real estate moguls, Zhang Xin, tells Lesley Stahl that residential property development has reached the end of the road.
And with the prices of millions of existing housing units falling since last year, China’s largest residential builder, Vanke Chairman Wang Shi, tells Stahl he is seeing protests from angry investors and fears an Arab Spring-like uprising if the bottom falls out of the market………………………………………..Full Article: Source

5 more reasons to ignore these real estate bubble scare tactics

Posted on 28 February 2013 by Laxman  |  Email |Print

Get ready for the real estate bears to step up their scare tactics. Why? Because in the last 24 hours, S&P/Case-Shiller reported December results for its widely tracked home prices indices. And prices jumped 6.8% in the last year, ahead of the expected 6.6% increase. That’s the biggest yearly gain since July 2006.
Like I said, bears are bound to pounce on the bigger-than-expected gains as further proof that we’re in the midst of another real estate bubble. (Or at least near a peak in the recovery.) It’s total hogwash! To prove it, I’m sharing another five signs that the real estate recovery is far from over………………………………………..Full Article: Source

Property speculators’ return fuels Dubai bubble fear

Posted on 28 February 2013 by Laxman  |  Email |Print

Property speculators are back in Dubai, aiming to make their fortunes by buying apartments and villas for cash, then selling them within months, weeks or even days. It’s a sign, some people fear, that Dubai risks repeating the mistakes of the past.
Queues of investors have formed outside the offices of major real estate developers in the past several months, in scenes that recall the emirate’s boom days before 2008, when money poured into Dubai property from around the world………………………………………..Full Article: Source

Singapore to raise property tax rates for luxury homeowners

Posted on 27 February 2013 by Laxman  |  Email |Print

Singapore plans to raise taxes for luxury homeowners and investment properties, widening a four- year campaign to curb speculation after prices in Asia’s second- most expensive housing market rose to a record.
The higher tax will apply to the top 1 percent of homeowners who live in their own residences, or 12,000 properties, Singapore Finance Minister Tharman Shanmugaratnam said in his budget speech yesterday, without giving a definition of what constitutes a high-end home. The government will also raise tax rates for vacant investment properties or those that are rented out, he said………………………………………..Full Article: Source

Canada’s housing affordability improves in fourth quarter: RBC

Posted on 26 February 2013 by Laxman  |  Email |Print

Small declines in home prices and mortgage rates made Canadian home ownership slightly more affordable in the fourth quarter of 2012, the second straight improvement, and soft home buyer demand may help continue the trend in 2013, according to a report by RBC Economics released on Monday.
RBC, Canada’s largest bank and a huge mortgage lender, measures affordability as the percentage of monthly pre-tax income for a household needed to cover the typical costs of owning a home, including mortgage payments, utilities and property taxes………………………………………..Full Article: Source

U.S. banks targeting Europe commercial property

Posted on 26 February 2013 by Laxman  |  Email |Print

U.S. banks are looking to capitalize on a dearth of financing for Europe’s commercial property market that’s driven lending margins to five times the level prior to the 2008 crisis.
Citigroup Inc., Morgan Stanley, Bank of America Corp. and Wells Fargo & Co. are following insurers and distressed investors allocating capital to the region as local banks, which overextended during the last boom, are forced to contract amid new regulations. Europe faces an $82 billion shortfall between the amount of real-estate debt maturing through this year and the funding available to replace it, according to real-estate broker DTZ………………………………………..Full Article: Source

India: House prices rise by up to 9.6pct despite high rates

Posted on 26 February 2013 by Laxman  |  Email |Print

Despite high interest rates, housing prices have risen in 18 out of 20 cities, says National Housing Bank (NHB). According to NHB’s RESIDEX, residential property prices in Delhi and Mumbai have seen the highest surge of 9.6% each during October-December period 2012 compared with the July-September quarter.
In the last one year, property prices in Delhi have risen by 16.8% as against 12.4% in Mumbai. While only two cities - Indore (-1%) and Faridabad (-5.1%) - have witnessed a fall in housing prices, residential property prices have gone up in eighteen cities, ranging from 0.6% in Chennai to 9.6% in Delhi and Mumbai………………………………………..Full Article: Source

Property prices rise in key Indian cities in Dec quarter

Posted on 26 February 2013 by Laxman  |  Email |Print

Mumbai and Delhi lead the list with prices rising 9.6% in both cities. Key Indian cities, including Mumbai, Delhi, Bangalore, Ahmedabad, Kolkata and Chennai, have seen a significant rise in residential property prices in the quarter ended December from the preceding quarter when they either remained stable or went up marginally, according to the National Housing Bank (NHB) Residex released on Monday.
Of the 20 cities covered by the Residex, prices rose in 18 during the quarter. Mumbai and Delhi led the list with prices rising 9.6% in both cities, followed by Kolkata (9.4%), Patna (9.4%), Kochi (8.8%), Surat (8.7%), Bangalore (8.2%), Lucknow (8%), Hyderabad (7.1%), Ludhiana (6.5%), Ahmedabad (6.1%), Guwahati (5.1%), Bhopal (4.9%), Bhubneswar (2.4%), Jaipur (2.4%), Vijayawada (2.2%), Pune (2.0%) and Chennai (0.6%)………………………………………..Full Article: Source

China and Hong Kong: Market forces mean home prices are likely to carry on climbing

Posted on 26 February 2013 by Laxman  |  Email |Print

Despite the government’s efforts, demand is still too strong to cool down the property market. When will property prices stop rising? That was the question a colleague asked when she was editing my report about Hong Kong property prices setting new records on three consecutive weeks this month.
It is also a question on the minds of many people who are not convinced that the new round of cooling measures introduced by the government last Friday is going to rein in the record-setting advance of prices………………………………………..Full Article: Source

Singapore to raise property tax rates for luxury homeowners

Posted on 26 February 2013 by Laxman  |  Email |Print

Singapore plans to raise property levies for luxury homeowners as it seeks to tax wealthy residents in the island-state after the government imposed more measures to curb property speculation last month.
The higher tax will apply to the top 1 percent of homeowners who live in their own residences, or 12,000 properties, Singapore Finance Minister Tharman Shanmugaratnam said in his budget speech yesterday, without giving a definition of what constitutes a high-end home. The government will also raise tax rates for vacant investment properties or those that are rented out, he said………………………………………..Full Article: Source

Is it safe to sell your house now?

Posted on 25 February 2013 by Laxman  |  Email |Print

It might finally be time to come out of the basement. Seven years after the housing market began to collapse, rising prices and thinner inventories are presenting new opportunities for home sellers. Some hot markets are even seeing multiple offers for the same property—a phenomenon rarely seen since the boom years—as buyers become more confident and seek to take advantage of today’s near-record-low mortgage rates.
Home prices nationally climbed 8.3% in December from the same period a year earlier, according to CoreLogic, a real-estate analytics company………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

UK farm land values reach record highs

Posted on 25 February 2013 by Laxman  |  Email |Print

UK Farm land values reached new record levels ending the year at an average of £21,053 per hectare and £8,520 per acre, according to the latest figures to be published. Agricultural land value growth over the long term exceeded residential house prices, FTSE 100 and 10 year gilt yield, says the snapshot report from Chesterton Humberts.
The firm says that sustained buyer demand and limited availability is driving price growth and farm land values are set to rise by 6% per annum over the next five years………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

China’s property market heats up

Posted on 25 February 2013 by Laxman  |  Email |Print

Property prices ticked up last month in many Chinese cities, raising the chances of further government action to cool the housing market. Prices jumped in 54 of the 70 cities tracked by the government in January, according to data released Friday by the National Bureau of Statistics.
The average price change was an increase of 0.6%, the first year-on-year acceleration in 11 months. Compared to the previous month, prices rose 0.5%, which is the fastest rate of growth since January 2011, according to economists at Nomura………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Property prices pose biggest risk to Hong Kong economy

Posted on 22 February 2013 by Laxman  |  Email |Print

Just three months after Hong Kong rolled out a tough new round of property cooling measures, home prices have again climbed to record highs with demand unusually strong for new flats over the normally quiet Lunar New Year holiday break.
Hong Kong officials have stressed repeatedly that reining in the city’s property market, now one of the world’s most expensive, is a policy priority to restore affordability and to mitigate a major threat to the economy……………………………………Full Article: Source

Israel: Banks control the real estate market

Posted on 21 February 2013 by Laxman  |  Email |Print

It is the banks which are the biggest player on the field in the capital intensive real estate industry. The Government Assessor’s report that the average price of a four-room apartment rose by 5% in 2012, coming on top of the Central Bureau of Statistics report that prices rose by 6.7% last year, once again demonstrates the helplessness of policy-makers.
The banks also pump out cheap mortgages for us, at least so long as the interest rate stays low, in order to feed the housing demand monster. The banks also increase, limit, delay, and invent fees of various kinds for developers and contractors in order to control the supply and control of land purchases for new homes……………………………………Full Article: Source

Property prices pose biggest risk to stability of Hong Kong economy

Posted on 21 February 2013 by Laxman  |  Email |Print

Just three months after Hong Kong rolled out a tough new round of property cooling measures, home prices have again climbed to record highs with demand unusually strong for new flats over the normally quiet Lunar New Year holiday break.
Hong Kong officials have stressed repeatedly that reining in the city’s property market, now one of the world’s most expensive, is a policy priority to restore affordability and to mitigate a major threat to the economy of the affluent Asian financial hub……………………………………Full Article: Source

UK house price optimism hits highest level since 2010

Posted on 20 February 2013 by Laxman  |  Email |Print

Optimism over house prices in the UK has hit the highest level since 2010, according to Knight Frank. The firm’s latest House Price Sentiment Index shows that households in all 11 monitored UK regions expect that the value of their home will rise over the next 12 months - the first time that all regions expect price growth for more than two and a half years.
The positive outlook arrives despite the fact that households perceived the value of their homes dropped in February. Some 8.5% of the 1,500 homeowners across surveyed across the UK said that the value of their home had risen over the last month, while 11.7% said the value of their home had fallen. The result index rating of 48.4 is up from 47.6 in January and marks the highest reading in 31 months…………………………………Full Article: Source

Spanish real estate group files for bankruptcy

Posted on 20 February 2013 by Laxman  |  Email |Print

Reyal Urbis SA , a real estate company that became a stock market favorite during Spain’s property boom, said Tuesday it will file for bankruptcy protection.Reyal Urbis, born out of the merger of Inmobiliaria Urbis and Construcciones Reyal just one year before the country’s real estate market crashed in 2008, said in a statement that it remains confident that, while under protection, it will come to an agreement with its creditors.
If Reyal Urbis defaults on at least part of its debt payments under Spanish law, as appears likely, it would become the second-largest default in the country’s corporate history…………………………………Full Article: Source

Chinese cities curb housing loans

Posted on 20 February 2013 by Laxman  |  Email |Print

Several Chinese cities have tightened controls on housing loans, in a move that could herald broader policy tightening in response to a resurgent property market. Cities in the wealthy provinces of Zhejiang, Jiangsu and Guangdong have in recent days increased minimum borrowing requirements, or capped the size of loans available to homebuyers tapping their local housing provident funds.
The new restrictions mark a policy shift from last year, when dozens of cities made housing loans more easily available in an effort to boost the flagging property sector, which is widely seen as the most important motor of Chinese growth…………………………………Full Article: Source

Property prices in Thailand to experience steady growth

Posted on 20 February 2013 by Laxman  |  Email |Print

Urbanised lifestyles and a healthy economy could contribute to the steady growth of Thailand’s property market over the next five years. Recently, concerns have arisen that the swift growth of residential projects in Bangkok and other key provincial cities in Thailand has been driven by unsustainable returns in people’s wealth from the stock market, spurred by growing foreign portfolio investment.
Property prices have continued to rise over the past ten years, and could continue to rise steadily over the next five years according to Kitti Patpongpibul, chairman of the Housing Finance Association…………………………………Full Article: Source

Is commercial property an alternative to low bond yields?

Posted on 19 February 2013 by Laxman  |  Email |Print

Peter Toogood, investment director for Morningstar OBSR, says that with equity markets recording their best January for two decades and bond bulls becoming rare, commercial property may be an attractive option for yield-started institutional investors.
Improving economic data and sentiment and the downplaying of prior “tail risk” concerns was not lost on the financial markets. World equities surged in January, with the MSCI World Equity Index recording the best January in 19 years. January also provided the index’s largest monthly outside of recovery rallies since 2010…………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Farmland prices reach record highs in England and Wales according to RICS (UK)

Posted on 19 February 2013 by Laxman  |  Email |Print

Farmland prices reached record levels during the second half of 2012, as demand for commercial farmland continued to grow, says the latest RICS Rural Land Market Survey, H2 2012.
The average price per acre for farmland in England and Wales increased to £6,783*(approx. €7900) during the second half of 2012. Prices have now continually risen since the beginning of 2009. Surveyors attribute the strength of farmland prices to increased demand and lack of available land…………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

German property price gains ‘lost vigor,’ Central Bank says

Posted on 19 February 2013 by Laxman  |  Email |Print

German property price gains “lost some vigor” in 2012 as the cost of new homes rose more slowly, according to the country’s central bank. Home values in Germany’s 125 largest cities in 2012 increased by 5 percent, the same pace as a year earlier, the Bundesbank said in a report published today, citing data compiled by research firm BulwienGesa AG. The gains may pose economic risks, even though real estate lending remains moderate, the bank said.
“We must be vigilant,” Board Member Andreas Dombret said in a prepared speech. “International experience shows that the early phases of overheating can exist along with low lending growth.”……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Asset owners return to Asian real estate

Posted on 19 February 2013 by Laxman  |  Email |Print

Rising inflation and cheaper borrowing costs are leading institutions increasingly to view property as a safe haven, resulting in an expected rise in allocations to the asset class in Asia this year.
“More institutional money is coming to real estate, or is available for real estate, both on the debt and the equity side,” says Paul Guest, Asia-Pacific head of research and strategy at LaSalle Investment Management…………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

India: Transparency, regulatory clarity key to attract foreign capital

Posted on 19 February 2013 by Laxman  |  Email |Print

Analysts say real estate sector seeks key reforms that will ensure smoother land acquisition and remove regulatory uncertainties. India’s real estate sector needs greater transparency and transaction integrity to attract sovereign wealth funds that are paying more attention to property investment, consultants and sector analysts say.
The sector is seeking key reforms that will ensure smoother acquisition of land and remove regulatory uncertainties that are are deterring sovereign funds from venturing into the country, they said…………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Breakdown of U.S. housing prices shows gains almost everywhere

Posted on 18 February 2013 by Laxman  |  Email |Print

The latest numbers from the field are in, and the news is good. Housing prices were up almost everywhere across the country in 2012. Of the 134 core-based statistical areas (CBSAs) that reported 500 or more sales last year, 123 saw gains, according to year-over-year data collected as of Dec. 31 by Pro Teck Valuation Services of Waltham, Mass. CBSAs are defined as “micropolitan” areas of at least 10,000 people who are tied to an urban center by commuting.
Some increases were exceptional, such as the nearly 35% jump in the price per square foot in the Phoenix CBSA and 25% each in San Jose and Fort Myers, Fla. Others were minuscule, such as the 0.23% increase in Salem, Ore., or the 0.26% gain in Nassau County, N.Y………………………………………..Full Article: Source

July 2014
M T W T F S S
« May    
 123456
78910111213
14151617181920
21222324252627
28293031