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Demand for office space in Asia Pacific subdued

Posted on 15 May 2013 by Laxman  |  Email |Print

Leasing activity in Asia Pacific’s Tier 1 office markets remained generally subdued in the first quarter of 2013, according to real estate advisory firm Jones Lang LaSalle, in its latest Asia Pacific Office Index.
Whilst take-up of grade A office space contracted in Singapore, Hong Kong, Australian cities and Beijing, it was steady in Japan, South Korea and emerging Southeast Asia; strong demand in Manila and Jakarta was actually constrained by a lack of available space……………………………………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

China is poised to top Japan, Australia among international commercial property investors in Asia

Posted on 26 April 2013 by Laxman  |  Email |Print

When it comes to commercial real estate investment flows China still takes a back seat in Asia to Japan and Australia, whose markets have better transparency, more experienced investors and deeper inventory. Yet China is also poised to surpass both in the next few years as its economy becomes more service-driven and the investable supply rises, especially in Beijing and the country’s other big top-tier markets, Shanghai and Guangzhou.
So says Anthony Couse, a managing director in Shanghai for global real estate consultancy Jones Lang LaSalle of Chicago. His enthusiasm is apparently shared by the Blackstone Group, reported in April to be planning to raise up to $4 billion for a real estate fund focused on China and Asia………………………………………..Full Article: Source

Melbourne records strong property marke

Posted on 25 April 2013 by Laxman  |  Email |Print

According to Australian Property Monitors, median house prices in the city increased by 3.6 per cent in the three months to March, and unit prices lifted 2.6 per cent.The city recorded the highest quarterly price increases in the country.
The Australian Property Monitors senior economist Dr Andrew Wilson says the Melbourne market is making up lost ground………………………………………..Full Article: Source

Blackstone takes aim at Asian real estate

Posted on 18 April 2013 by Laxman  |  Email |Print

Blackstone Group is upping the ante in Asia, looking to raise the largest real-estate fund ever devoted to the region at a time when economic growth there shows signs of slowing. The private-equity giant, which has become one of the world’s biggest real-estate investors, plans to raise up to a $4 billion real-estate fund exclusively focused on China and other Asian markets, according to people with knowledge of the matter.
The target amount for the fund, which will be Blackstone’s first devoted to Asia, is twice what the firm initially indicated it intended to raise. It also would be the largest Asia property fund raised, according to data tracker Preqin…………………………………..Full Article: Source

Japan apartment real estate proving best: Riskless return

Posted on 17 April 2013 by Laxman  |  Email |Print

Investing in Tokyo apartments beat putting money into office buildings, malls and the domestic stock and bond markets over the past five years as a housing shortage cushioned rental incomes from years of deflation.
Apartment real estate investment trusts produced the best returns, adjusted for price swings, of Japanese REITs in the five years through March, the BLOOMBERG RISKLESS RETURN RANKING shows. Daiwahouse Residential Investment Corp. (8984) led all REITs with a 5.5 percent risk-adjusted return, followed by Advance Residence Investment (3269) with a 5.4 percent gain……………………………………Full Article: Source

Australian residential market could be on road to recovery: CBRE

Posted on 15 April 2013 by Laxman  |  Email |Print

The Australian residential market could be on the road to recovery with pre-conditions now existing for the market to grow, according to CBRE. The Australian Residential MarketView report for the December 2012 quarter shows an improvement in sales volumes but suggests previous significant growth cycles are unlikely to be seen in the immediate future.
“A low interest rate environment, modest improvement in building approvals, an increase in population growth, improving rental yields, expanding buyer enquiry levels, sales volumes improving and recent equity market growth are all necessary for a market geared towards recovery,” says CBRE’s regional director of residential valuations Tom Edwards………………………………………..Full Article: Source

Asian property: boom or bubble? (Video)

Posted on 12 April 2013 by Laxman  |  Email |Print

Is Asia’s economic growth and large population laying the foundation for a real estate boom or bubble? The surge in property prices is often blamed on speculators.
But Patrick Sumner, from Henderson Global Equities, told the BBC that rising prices are based on real demand, not speculation. People across the region are either looking to buy their first homes, or to trade up. And this is likely to keep prices high despite attempts in many countries to cool the market………………………………………..Full Article: Source

Asia Pacific real estate deals up 35pct to US$144bln in Q4

Posted on 11 April 2013 by Laxman  |  Email |Print

Asia Pacific continued to see strong interest in property in 2012, as volumes in the fourth quarter ended Dec 31, surged 35% to US$144.4bil from the third quarter mainly due to land sales. Asia Pacific Real Estate Association (APREA) CEO Peter Mitchell said on Wednesday transaction volumes increased significantly each quarter during 2012, shrugging off concerns over Europe and the anemic recovery in the US.
“The increase was driven primarily by land sales, which rose 42%. Commercial transactions also contributed with 22% higher activity, while apartment and hotel transactions dragged at -57% and -16% respectively,” he said………………………………………..Full Article: Source

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Many first-time buyers priced out of market across Australia

Posted on 11 April 2013 by Laxman  |  Email |Print

Housing affordability remains a problem across Australia, with many first-home buyers still priced out of the market despite recent interest rate cuts. JP Morgan’s latest snapshot of the local housing market ranks Australia in second place behind Hong Kong for having the world’s highest house prices.
The report’s co-author Martin North said mortgage repayments remained high because the average loan was getting bigger and the major banks had not passed on the Reserve Bank of Australia’s interest rate cuts in full………………………………………..Full Article: Source

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Room to grow for Asian property

Posted on 08 April 2013 by Laxman  |  Email |Print

The facts are simple: Alongside Asia’s dramatic rate of growth lies the inherent problem of property prices skyrocketing. Even Singapore is trying to reverse a situation where the market was threatening to price itself over and above what its own citizens could pay. Meanwhile, buy-to-let property is simply not giving back the promised or indeed even the required returns.
Everyday investors are starved of available and affordable options for their dollar. Yet even here there are exciting options. Previous options that only the super-rich could afford are becoming available to the savvy investor. A case in point is buy-to-lease hotel rooms………………………………………..Full Article: Source

The Boomer housing bust: coming to Australia?

Posted on 08 April 2013 by Laxman  |  Email |Print

They’re calling it the great “senior sell off” and it’s scaring suburban America. Still recovering from the housing market crisis of 2007-09, America’s latest concern is a looming glut of unsellable suburban homes as ageing baby boomers seek to downsize.
Respected demographer Arthur C. Nelson, Director of the Metropolitan Research Centre, University of Utah, has analysed data from the American Housing Survey, finding that over the past 30 years, 80 per cent of new homes built in the US were detached single family dwellings. Much of this new construction was of the McMansion variety, exceeding 230 square metres in size, as the post war baby boomers (born in between 1946-1968) raised their families………………………………………..Full Article: Source

Australian housing market on a knife’s edge, says industry spokesgroup

Posted on 05 April 2013 by Laxman  |  Email |Print

The number of dwelling approvals increased by 3.1% in February, according to ABS figures released yesterday, but one industry spokesgroup says this only goes to show Australia’s housing market remains on a ‘knife’s edge’.
Master Builders Australia chief economist, Peter Jones, says the headline increase in dwelling approvals gives a false picture of a housing recovery, despite the fact private sector houses rose 0.5%………………………………………..Full Article: Source

Australian housing market shows signs of recovery

Posted on 03 April 2013 by Laxman  |  Email |Print

Private data shows Australia’s housing market has started to show signs of recovery with home prices rising close to 3 percent on average over the past three months, local media reported on Tuesday.
The latest RP Data-Rismark Home Value Index shows that home prices across Australia’s capital cities rose by 2.8 percent on average in the March quarter. The index found Hobart experienced the largest growth in house prices in the quarter, up 6.1 percent, followed by Perth, with a rise of 4.3 percent………………………………………..Full Article: Source

Office market in Asia Pacific likely to see more activity in 2013, says Knight Frank

Posted on 02 April 2013 by Laxman  |  Email |Print

Concerns surrounding the world economy continued to have an influence on the office occupier property markets in Asia Pacific in the final months of last year, according to the latest index.
The Knight Frank Asia Pacific Prime Office Index rose 2% in the fourth quarter of 2012, up from a 0.8% increase in the previous quarter and the firm says that with some of the constraints holding back international corporates dissipating, a less uncertain outlook is expected to lead to more leasing activity in 2013………………………………………..Full Article: Source

Australia taking lion’s share of Asia Pacific commercial property investment: Report

Posted on 28 March 2013 by Laxman  |  Email |Print

Nearly half (45%) all real estate investment into the Asia Pacific region is flowing into Australian commercial property markets. This is double the next biggest markets of Japan (19% of investment) and China (18%), according to Jones Lang LaSalle, with investors attracted to Australia by its transparent markets, efficient regulatory regimes supported by solid economic fundamentals and relatively high yields.
Offshore buyers of Australian commercial property are now around four times greater than those selling their investments, a trend that commenced in 2007 and which has grown more pronounced in the last three years………………………………………..Full Article: Source

Melbourne property market bounces back to 2010 levels: Mark Armstrong

Posted on 27 March 2013 by Laxman  |  Email |Print

The Melbourne property market is like an incoming tide. It ebbs and flows on the waves of confidence and buyer demand. In some cases the property market slips backwards but it always seems to get back to where it once was.
Over the last couple of years the value of many properties have slipped back by 5% to 10% but we are now seeing the market take up that slack very quickly………………………………………..Full Article: Source

India: Slowdown in IT space hits commercial real estate sector

Posted on 26 March 2013 by Laxman  |  Email |Print

Slow uptake of office space by information technology firms in India is beginning to cast a shadow over the country’s commercial real estate sector, data from property consultancy firms indicate.
Figures provided by two property consultants — Cushman & Wakefield and DTZ — show that absorption of office space in 2012 across the top eight Indian cities stood at 29.05 million sq ft, a 23% decline over the previous year. Of this, the share of the IT sector, which accounted for 64% of the commercial space absorbed in 2009, dropped to 44% in 2012 at 13.22 million sq ft. It was 16.08 million sq ft in 2011………………………………………..Full Article: Source

Jakarta real estate firing on all cylinders

Posted on 26 March 2013 by Laxman  |  Email |Print

Despite its well-known shortcomings, Indonesian capital exerts a powerful pull on businesses, spurring demand for office, commercial and residential property.
With low interest rates and strong business sentiment, the property market in the Greater Jakarta Area is expected to remain strong throughout this year as demand for office, residential and retail space continues, according to international property consultants………………………………………..Full Article: Source

Not all Australian property markets in the same boat says RBA as vendors adopt more realistic expectations

Posted on 15 March 2013 by Laxman  |  Email |Print

Low interest rates have been supporting the established housing market, and prices have been moving higher in many residential markets across Australia, however they remain below earlier peaks in most markets, the Reserve Bank of Australia has noted.
The general improvement in sentiment was apparent in auction clearance rates, the bank assistant governor (economy) Christopher Kent said in an address to The Australian Institute of Building last night…………………………………Full Article: Source

U.S. beats Europe and Asia as growing property investment target

Posted on 13 March 2013 by Laxman  |  Email |Print

Investors increased the amount of equity they plan to commit to U.S. real estate by 19 percent to $55 billion in the second half of last year, more than any other region, according to London-based broker DTZ.
Money excluding debt intended for the Asia Pacific region rose by 15 percent to $40 billion and planned equity investment in Europe grew by 6 percent to $62 billion in the six months through December, DTZ, a unit of Sydney-based UGL Ltd. (UGL), said……………………………………….Full Article: Source

Asia: Investors turning to commercial properties

Posted on 12 March 2013 by Laxman  |  Email |Print

Restrictive government measures and a fear of inflation are prompting investors to shift from residential to commercial properties. Research carried out by property consultancy firm Knight Frank showed that the value of transactions in the commercial property market has increased three times over the past four years.
This is in line with a global trend where more high net worth individuals (HNWIs) are investing in commercial property, according to Knight Frank’s annual Wealth Report. Said Nicholas Holt, regional head of research of Knight Frank Asia-Pacific: “In Hong Kong and Singapore, particularly, we are seeing more private investors who previously favoured residential investment looking at lower price point commercial property.”……………………………………….Full Article: Source

Investors buy homes as Aussie rates make rentals pay: Mortgages

Posted on 11 March 2013 by Laxman  |  Email |Print

Investors are about 70 percent of visitors at broker Andrew Ienna’s open houses in Sydney’s western suburbs as low borrowing costs lift returns on rentals, and high prices and down payments scare off first-time buyers.
The value of home-loan approvals for investors rose 4 percent in December from a year ago in seasonally adjusted terms, while mortgages for owner-occupiers fell 1.8 percent in the same period, government data show………………………………………..Full Article: Source

Asia to become world’s most profitable property market

Posted on 07 March 2013 by Laxman  |  Email |Print

Report by Aviva Investors notes improving global conditions for real estate, highlighting Asia Pacific as offering the highest potential returns. Asia Pacific’s commercial real estate sector is poised to offer the ‘highest potential returns’ among global property markets over the next five years, according to Aviva Investors.
A recent report published by the asset manager forecasts an average annual return of between 9% and 11% from 2013 to 2017 for the sector in the Asia Pacific ex-Japan region. In particular higher-yielding sectors such as industrials in China and Australia are likely to drive performance in the region………………………………………..Full Article: Source

What’s ahead for the Australian property market? A quick history lesson

Posted on 01 March 2013 by Laxman  |  Email |Print

Is property still a good investment? The last few flat years in our property markets and concerns about the potential for future capital growth has some investors worried. They are wondering what’s ahead for property, especially as they’re hearing some commentators suggesting we’re in unprecedented times.
You just have to look back further: The problem is these people don’t have a big enough rear vision mirror. Some of us with grey hair see clear parallels with the past. So I thought that today I’d delve into my memory and see what we can learn from previous cycles to help you understand where our markets are heading………………………………………..Full Article: Source

Australian retail, office prices fall as rents decline, NAB says

Posted on 20 February 2013 by Laxman  |  Email |Print

Australian retail and office property prices fell in the three months to Dec. 31 as rents declined, a private survey showed. Retail property capital values dropped 1.4 percent in the last quarter of 2012, while industrial property values slipped 1.2 percent and offices weakened 0.6 percent, according to a National Australia Bank Ltd. survey released today. Rents eased in all markets in the period, led by a 2.1 percent decline in retail, NAB said.
Retail sales unexpectedly fell for a third month in December, the longest stretch of declines in 13 years, a government report showed Feb. 6. The Reserve Bank of Australia cut the benchmark interest rate to 3 percent in December, matching a half-century low, in a bid to spur non-mining areas of the economy…………………………………Full Article: Source

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

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Big hotel deals boost Australian commercial property sales as global confidence slowly returns

Posted on 14 February 2013 by Laxman  |  Email |Print

Investment in Australian commercial real estate fell in the final quarter of 2012 but the outlook remains bright for 2013 as global investor confidence rises.
Over the December 2012 quarter, Australian investors – both offshore and local – invested $US3.9 billion in commercial property, compared with $US4.2 billion in the September quarter – a decline of 6%, according the latest global real estate report from Jones Lang LaSalle (JLL)………………………………………..Full Article: Source

Housing sectors in New Zealand continue to experience strong growth

Posted on 08 February 2013 by Laxman  |  Email |Print

Both the new and used housing sectors in New Zealand are experiencing and active time with the latest figures showing strong growth. The seasonally adjusted number of consents for new properties, including apartments, increased 9.4% in December 2012, the data from Statistics New Zealand shows.
Statistics manager Blair Cardno said that since the latest sector low point in March 2011, a clear trend has emerged showing an increase in new houses, both including and excluding apartments………………………………………..Full Article: Source

Asia to lead property investment by 2030

Posted on 25 January 2013 by Laxman  |  Email |Print

Growth of direct commercial real estate transaction around the world will more than double the 2012 rate by 2030 as investors respond to shifting economic conditions by channeling more capital into commercial real estate, particularly in the Asia Pacific region, a leading international property services provider has predicted.
Global direct commercial real estate investment market is expected to exceed US$1 trillion per annum by 2030, compared with nearly US$450 billion registered last year, according to a latest research report released by Jones Lang LaSalle………………………………………..Full Article: Source

N.Z. homes turn less affordable than Australia, survey says

Posted on 21 January 2013 by Laxman  |  Email |Print

New Zealand homes became less affordable than Australia in 2012 as constrained land supply and government levies, combined with low borrowing costs, pushed prices higher, according to a survey.
The median home price in New Zealand’s major urban centers rose to 6.7 times gross annual median household income from 6.4 times a year earlier, according to the ninth annual report by Belleville, Illinois-based consulting company Demographia………………………………………..Full Article: Source

Taiwanese buyers eyeing Japan property market as yen weakens: agency

Posted on 18 January 2013 by Laxman  |  Email |Print

Taiwanese buyers are becoming more interested in Japan’s property market as the Japanese yen has declined by nearly 10 percent over the past two months, a real estate agent said Thursday.
The Japan office of Sinyi Realty, one of Taiwan’s major real estate agencies, has received more than 200 calls in the past two weeks from Taiwan asking about properties for sale in Japan, said Lin Yan-hong, head of the branch………………………………………..Full Article: Source

Global brakes on vertical growth but real estate boom in Asia

Posted on 17 January 2013 by Laxman  |  Email |Print

For the first time in six years, the number of tall buildings completed annually around the world shrank in 2012, according to a year-in-review study by the Council on Tall Buildings and Urban Habitat (CTBUH). Sixty-six buildings taller than 200 metres were completed in 2012 — the third most in history — but down from the 82 finished in 2011. On an average, a seven-storey building is around 24m tall.
CTBUH is a source of information on tall buildings. In a report released titled ‘Year in Review: Tall Trends of 2012′, the council said the number of completions in 2012 was lower than expected………………………………………..Full Article: Source

Australian housing is in ‘largest bubble on record’ and will crash

Posted on 17 January 2013 by Laxman  |  Email |Print

Academic Philip Soos has acknowledged that mainstream opinion is opposed to the idea that a housing bubble exists in Australia, as governments, the FIRE sector (finance, insurance and real estate) and many of his colleagues in academia all claim that prices are linked to fundamentals or intrinsic value.
But noting entrenched views exist on both sides, Soos has repeated his strong belief that evidence suggests the residential property market was currently experiencing a bubble, with prices detached from fundamental valuations. “This appears to be the largest bubble on record, orders of magnitude larger than all preceding bubbles,” he says………………………………………..Full Article: Source

Top performing cities in 2013 for Asian property

Posted on 10 January 2013 by Laxman  |  Email |Print

Popular expat cities Jakarta and Bangkok are predicted to have property price rises of up to 20 per cent. Residential property prices in Asia look set for another solid year of growth with Jakarta and Bangkok tipped to be the star performers.
International property expert Knight Frank has researched major cities across Asia Pacific, a region that continues to benefit from strong economic growth and rapid urbanisation………………………………………..Full Article: Source

Property prospects good for Asia Pacific investors

Posted on 08 January 2013 by Laxman  |  Email |Print

Investors with properties in several Asia Pacific countries should continue to do well this year, say experts. In particular, Jakarta and Bangkok have been tipped to be the best performing areas for property investment.
International real estate firm Knight Frank highlighted the cities in their Asia Pacific Residential Review. “We are pointing to Jakarta and Bangkok because they are in a good position to be boosted by strong economic growth and they have a growing property-owning class that is not only affluent but also aspirational,” said a spokesman………………………………………..Full Article: Source

Asia Pacific prime residential market could struggle against other regions

Posted on 03 January 2013 by Laxman  |  Email |Print

Asia-Pacific prime property markets are unlikely to outperform the other regions of the world in 2013 as government policies dent demand for residential homes, according to Knight Frank predictions.
Nicholas Holt, Knight Frank’s research director for the region, said government interventions, aimed at mitigating the risk of asset bubbles and addressing concerns of affordability are taking a toll………………………………………..Full Article: Source

Southeast Asia property market to surge within 10 years

Posted on 21 December 2012 by Laxman  |  Email |Print

Many factors lead to the ascendancy of SEA in the world’s stage in real estate, among them the region’s huge upside potential Southeast Asia (SEA) will drive the property scene ‘crazy’ within the next 10 years and Malaysia will be among the best, says Gavin Tee, an international property consultant and speaker.
“Two years ago, I predicted that SEA will be the focus of the world’s real estate destination and this has been borne out by events following that,” he said, referring to the huge interest generated in recent times by SEA nations like Singapore, Laos, Myanmar, Indonesia and Malaysia………………………………………..Full Article: Source

Australia: Real estate’s best of the best

Posted on 20 December 2012 by Laxman  |  Email |Print

Houses going for free, multimillion-dollar hovels, mansion fire sales by the dozen, and rates heading to zero. Bargain hunting and runaway extravagance set the buying extremes for this year’s property market.
A two-tier real estate sector emerged as investors embraced low rates and returned to bricks and mortar but cautious owner-occupiers continued to hold off selling, and first-home buyers stayed on the sidelines. Record low interest rates and consumer jitters created a house divided………………………………………..Full Article: Source

Steve Keen says odds of Australian house prices beating inflation “not good”

Posted on 19 December 2012 by Laxman  |  Email |Print

The likelihood of house prices rising in real terms in 2013 are “not good”, according to the University of Western Sydney’s professor Steve Keen, who says his 2008 call of a slow 40% fall in Australian house prices over the next 10 to 15 years is looking “healthy”.
According to Keen, for house prices to perform better than the current inflation rate of 2% would require that property price growth start to accelerate. However, he says the opposite has been happening following a “slight uptick in nominal prices over the last six months”………………………………………..Full Article: Source

Melbourne property market grim in 2013, but there’s more to Victoria than Melbourne

Posted on 18 December 2012 by Laxman  |  Email |Print

Prospects for Melbourne property in 2013 are grim. I expect Melbourne to be the weakest of the capital markets market next year. But fortunately there’s more to Victoria than Melbourne.
Melbourne has two problems: oversupply and a state government that’s lost the plot. Melbourne already has too many apartments in its inner-city market, but developers are intent on building more, and the state government seems hell-bent on helping them……………………………………..Full Article: Source

Asian property market moving into the black

Posted on 14 December 2012 by Laxman  |  Email |Print

A report from last week noting that private equity giant Blackstone (BX) was moving towards offering a pan-Asian property fund underscored the data that I’ve been collecting from around the region that suggests that bottoms are forming in certain markets.
The stunning turnaround on the Hang Seng from the June low - which has it up 22.5% in less than 6 months -is strongly stating the power of global, coordinated quantitative easing. And since Hong Kong pegs their Dollar to the U.S. Dollar- similarly to Singapore - via manipulating interest rates, this is part of the reason why both the Hong Kong and Singapore REIT markets have done so well in the past 18 months………………………………………..Full Article: Source

Australia: Home buyers priced out of capital cities

Posted on 14 December 2012 by Laxman  |  Email |Print

Despite the two-year old property slump, buyers continue to struggle to find homes for less than $500,000 in the inner suburbs of many of Australia’s largest cities. That price threshold, which is more than nine times average yearly earnings, puts housing in the inner parts of Sydney, Melbourne, Darwin and Canberra all but out of reach, new research shows.
The country’s continuing problem with affordability comes despite capital city house values falling 0.4 per cent this year on the back of a 4 per cent decline in 2011, according to RP Data………………………………………..Full Article: Source

No such thing as ‘Australian’ property market, says expert

Posted on 13 December 2012 by Laxman  |  Email |Print

There’s no such thing as “the Australian property market,” says property market commentator Terry Ryder in an article published this week in Property Observer - and investors need to stop viewing it as anything other than a collection of separate geographical trends.
“Some markets [within Australia] have boomed, some have gone down moderately, some have stagnated, some have gone a little backwards and some have gone into reverse rapidly.”……………………………………….Full Article: Source

Demand for Asia-Pacific real estate may increase, LaSalle says

Posted on 12 December 2012 by Laxman  |  Email |Print

Demand for real estate in the Asia- Pacific region will increase next year as economies get stronger and institutional investors diversify their portfolios, LaSalle Investment Management Inc. said.
Bolstered by low interest rates and fiscal measures, economic growth may strengthen next year in Asia and lead to a gradual pick-up in investment decisions, LaSalle said. Real estate values may be boosted by an abrupt economic recovery in China, according to the investment management company, which has $47 billion assets under management………………………………………..Full Article: Source

Singapore ideal home in Asia for mobile rich

Posted on 12 December 2012 by Laxman  |  Email |Print

Singapore topped Hong Kong as the most desired place in Asia for so-called mobile millionaires to reside, with quality of life cited as the main attraction, a RBC Wealth Management survey showed.
Almost a third of the millionaires in Asia who live, work or spend more than half their time outside their countries of origin prefer Singapore, while 24 per cent pick Hong Kong, the second most popular in the region, RBC and The Economist Intelligence Unit said in a joint report………………………………………..Full Article: Source

NZ: Rental demand boosts market

Posted on 12 December 2012 by Laxman  |  Email |Print

There is renewed buoyancy in the South Canterbury housing market, the latest real estate figures show. More properties are selling faster and for a higher value. And it seems the boom is set to continue. There were 76 properties sold in Timaru in November at a median value of $239,000 - $13,000 up on the previous month.
The properties took an average of 29 days to sell, according to the Institute of New Zealand’s (Reinz) November figures. A further 45 properties in South Canterbury sold at a median value of $215,000 - the same value as the previous month. The properties took 58 days to sell………………………………………..Full Article: Source

Australian property market getting a Christmas cold

Posted on 10 December 2012 by Laxman  |  Email |Print

While the recovery in the American market continues to go from strength to strength (for now at least) other markets which have until now proven resilient to the crisis, are now beginning to suffer.
Australia has been very strong during the crisis. It has been a constant shock to many owing to the fact that the UN ranked it one of the most overvalued markets in the world before the crisis, but for all the times commentators cried overheating, Australia continued to grow strongly as demand refused to wane………………………………………..Full Article: Source

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Australia’s property markets turned in 2012

Posted on 07 December 2012 by Laxman  |  Email |Print

Australia has had a boom and gloom economy over the past year. On the one hand our economy still grew – unlike many others around the world –underpinned by a resources boom. But on the other hand, consumers and businesses were gloomy.
And it was much the same with property. Some areas fared well through the year, but many didn’t. However, looking back, 2012 will be remembered as the year the property market turned………………………………………..Full Article: Source

Best place to buy property in Asia

Posted on 06 December 2012 by Laxman  |  Email |Print

Forget the red-hot property market of mainland China — a new forecast says investors should be looking south. Jakarta — Indonesia’s burgeoning capital of nearly 10 million people — is predicted to be Asia’s top real estate market in 2013, ahead of cities such as Hong Kong, Singapore and Sydney in “Emerging Trends in Real Estate — Asia Pacific 2013,” a real estate forecast released this week by PriceWaterhouseCoopers and the Washington D.C.-based Urban Land Institute.
The recommendation to buy into Jakarta-based property may raise eyebrows, but PriceWatershouseCoopers says Indonesia’s economic turnaround over the past few years has impressed international investors………………………………………..Full Article: Source

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