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Real Estate Briefing - Archive | April, 2010

Emerging markets lead property revival

Posted on 30 April 2010 by Laxman  |  Email |Print

From Independent: The pace of recovery in the global commercial property market continues to quicken in the first three months of the year, with developing economies such as those in Latin America and Asia demonstrating particular confidence about the future, according to the latest survey from the Royal Institution of Chartered Surveyors (Rics).

The Rics first-quarter global survey shows that the overall number of investment transactions increased in the last three months of 2009 in all but a handful of markets. The occupier market is also seeing a positive shift in sentiment, although commercial rents are continuing to fall in most countries………………………………….Full Article: Source

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S&P: Europe’s banks face $121.45 bln in property-loan losses

Posted on 30 April 2010 by Laxman  |  Email |Print

From WSJ: European banks face up to €92 billion ($121.45 billion) in losses from commercial real-estate loans in the U.K., Ireland and Spain between 2009 and 2011 despite a recent rebound in property values, according to Standard & Poor’s.

“In our view, banks in the U.K., Ireland, and Spain in particular will likely continue to report elevated impairment losses on commercial real-estate loans through 2011,”…………………………………Full Article: Source

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Europe banks to see major commercial property impairments-S&P

Posted on 30 April 2010 by Laxman  |  Email |Print

From Reuters: UK, Irish and Spanish banks will likely to continue reporting higher impairment charges on commercial real estate (CRE) loans in 2011, even as signs of a property market recovery in the UK grow, Standard & Poor’s said.

The three European countries could see impairment charges of 92 billion euros ($123 billion) in total for the 2009-2011 period, about 10 percent of Europe’s total CRE lending, with most of the losses being borne by domestic lenders, the ratings agency said in a report on Thursday………………………………….Full Article: Source

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Property trusts in merger talks

Posted on 30 April 2010 by Laxman  |  Email |Print

From Moneymarketing.co.uk: The boards of the UK commercial property trust, managed by Ignis Investments, and the F&C commercial property trust are considering a merger. If the merger of the £640m F&C trust and the £979m Ignis trust does go ahead, the combined entity would be one of the UK’s biggest listed property companies.

Ignis, the asset manager owned by the Phoenix Group, has tabled proposals to both boards for a merger of the two companies………………………………….Full Article: Source

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UK commercial property - investment outlook

Posted on 30 April 2010 by Laxman  |  Email |Print

From Ifaonline.co.uk: Having seen significant yield contraction since the summer of 2009, yields on prime properties now appear to be stabilising. The market is broadening as demand for prime stock is outstripping supply, leading to an increase in appetite for good secondary property, where yields continue to firm.
However, investor demand remains poor for weaker properties, where the risks of insolvencies are greater and which are likely to remain vulnerable to the economic malaise………………………………….Full Article: Source

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House price growth hits three-year high

Posted on 30 April 2010 by Laxman  |  Email |Print

From Timesonline.co.uk: House price growth has broken the double-digit barrier for the first time in almost three years, suggesting that confidence in the market has returned.

Nationwide said that the 10.5 per cent growth in average annual prices was the highest since June 2007………………………………….Full Article: Source

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UK housing market then and now

Posted on 30 April 2010 by Laxman  |  Email |Print

From BBC: In April, the year-on-year increase in house prices returned to double figures for the first time since June 2007, the Nationwide Building Society has said.
So is the housing market back to where it was in the summer of 2007? Far from it, according to estate agents and mortgage brokers………………………………….Full Article: Source

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Greek woes may drive Euro buyers out of UK property

Posted on 30 April 2010 by Laxman  |  Email |Print

From Reuters: Economic trauma across the euro zone could stall Britain’s recovering real estate sector if that currency continues to lose ground against sterling, damaging the purchasing power of many of London’s biggest property buyers.
European Union talks on a 45 billion euro ($59.94 billion) rescue plan for Greece’s economy and fears Spain and Portugal may need similar aid, are threatening the currency play some experts see as a crutch for the UK property market………………………………….Full Article: Source

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Greek housing market an overseas property opportunity?

Posted on 30 April 2010 by Laxman  |  Email |Print

From Homesgofast.com: The Greek financial crisis could make way for overseas property speculators states the director of international real estate company Homesgofast.com. The region which is ranked on par with Azerbaijan, Colombia, Panama and Romania could produce house prices well below the European average as the economy dips.

The cost of borrowing for the Greek government briefly hit 38% in a stark illustration of the impact that a downgrade can have on the health of a nation’s finances. Greece has been graded BB+ by the credit rating agency Standard & Poor’s, official “junk” territory………………………………….Full Article: Source

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Morocco c.bank says housing market not stagnating

Posted on 30 April 2010 by Laxman  |  Email |Print

From Reuters: Morocco’s property market is likely to pick up in coming months, the central bank told Reuters, playing down fears of prolonged stagnation that could hold back economic growth in the north African country.

The price slowdown “has been quite brief and (the market) should very probably continue to resume its dynamism in the coming quarters,” the central bank, known as Bank Al Maghrib, said in emailed replies, received on Wednesday, to questions from Reuters………………………………….Full Article: Source

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South African commercial property market taking the smooth ride to recovery

Posted on 30 April 2010 by Laxman  |  Email |Print

From Realestateweb.co.za: After many decades of weathering boom or bust rises and falls, it appears that South African Commercial Property investors can now sit back and watch the more developed economies dealing with unfamiliar cycles in their property markets - unfamiliar to them that is.

This is according to Tony Bales of Bales & Associates, who says that looking back at the days when the prime interest rate hit 25,5% in 1997, the current situation we are dealing with is very mild………………………………….Full Article: Source

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Syrian real estate ‘attractive’ to investors

Posted on 30 April 2010 by Laxman  |  Email |Print

From Cityscapeintelligence.com: Property developers in Syria are expecting a rise in the number of people investing in the country’s housing and commercial building market after performing well in recent years.

According to Arabian Group, the organiser behind the 16th International Exhibition for Construction of Buildex Syria 2010, some ten per cent more potential investors are expected to travel to the show this year………………………………….Full Article: Source

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GCC real estate sector on path to recovery: Global

Posted on 30 April 2010 by Laxman  |  Email |Print

From Zawya.com: The GCC real estate sector’s rapid expansion has made it an attractive market for investors worldwide, according to a report by Kuwait-based Global Investment House.

The sector has become the focus of many regional governments investing billions of dollars in various projects and infrastructures………………………………….Full Article: Source

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Saudi property growth to be slow, Credit Suisse says

Posted on 30 April 2010 by Laxman  |  Email |Print

From Bloomberg: Saudi Arabia’s real estate market will probably grow more slowly than expected because of high prices and a lack of mortgage lending, Credit Suisse Group AG said.

“A strong shift to home ownership will likely not be in effect in the short and medium term,” Dubai-based analyst Ahmed Badr said in a report today. Housing supply needs to double, and that will be difficult to achieve because a shortage of off-plan sales means developers have to finance projects in full before offering units, he said………………………………….Full Article: Source

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Qatar’s real estate ‘set to grow further’

Posted on 30 April 2010 by Laxman  |  Email |Print

From Gulf-times.com: Qatar’s rapid economic development and rise in population would heighten demand for quality commercial and residential buildings in the coming years, said Al Fardan Group chief development officer, Basel Shammout.

Participating in a panel discussion on ‘Real estate, hotels and urban infrastructure’ at the Qatar – Latin America Investment Summit in Doha yesterday Shammout said the Alfardan Properties is committed to providing the ‘finest premium realty’ – both residential and commercial, in the country………………………………….Full Article: Source

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Beijing residential property prices reportedly easing

Posted on 30 April 2010 by Laxman  |  Email |Print

From Marketwatch.com: Residential real-estate prices in some neighborhoods in Beijing appear to be easing by double digits in percentage terms since the government introduced stricter regulations to deter speculation, according to local media reports.
Apartment prices in Beijing’s Tongzhou district have dropped 13% to 18,500 yuan ($2,710) per square meter, from 21,500 yuan per square meter before the central government announced tighter mortgage-lending requirements on April 15, according to a report Wednesday by the Beijing Times, which cited data by Beijing Centaline Property………………………………….Full Article: Source

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Beijing cancels land auction after price cap passed

Posted on 30 April 2010 by Laxman  |  Email |Print

From Chinapost.com.tw: An auction of land in Beijing was cancelled after bidding exceeded a price ceiling set for the lot as the Chinese government expands efforts to rein in the nation’s property market.
The highest price bid for the Beijing lot, zoned for residential development, at the April 26 auction was 4,718 yuan (US$691) per square meter, exceeding the 4,700 yuan per square meter limit set by the government, the Ministry of Land and Resources said on its Web site Wednesday. The ministry’s Beijing branch said it began setting limits on the price of land this month on a trial basis………………………………….Full Article: Source

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China to extend property curbs, Credit Suisse says

Posted on 30 April 2010 by Laxman  |  Email |Print

From Businessweek.com: China won’t back down from measures to cool the nation’s property market because the government’s “credibility” is at stake, Credit Suisse Group AG said.

The government has in the past two weeks raised mortgages rates and down payment ratios, barred lending for third-home purchases and ordered tighter scrutiny of developers’ financing to restrain property prices that surged at a record 11.7 percent in March………………………………….Full Article: Source

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China’s property moves cool demand: analysts

Posted on 30 April 2010 by Laxman  |  Email |Print

From Chinapost.com.tw: China’s moves to rein in soaring real estate prices appear to be cooling demand in the red-hot sector, reducing the risk of the market overheating and derailing the booming economy, analysts say.
In the past two weeks, the government has introduced a range of measures aimed at curbing rampant speculation and spiralling prices, but analysts warn the rules can be skirted easily by buyers looking to make a fast buck………………………………….Full Article: Source

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Housing market deterioration continues

Posted on 30 April 2010 by Laxman  |  Email |Print

From Tvnz.co.nz: The property market continued to deteriorate in March, according to the latest indicators from Mike Pero Mortgages. “The nationwide PCI was still positive in March 2010, but it looks set to move into negative territory within the next month or two. This shows a definite continued easing off in the housing market,” says Mike Pero Mortgages Chief Executive Shaun Riley.

The Property Cycle Indicator (PCI) says sales volumes in March were down 8% compared to last year which they believe is related to uncertainty about possible tax changes for investment property in the next government budget………………………………….Full Article: Source

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US: Housing shows recovery signs after prices fell to 2003 levels

Posted on 29 April 2010 by Laxman  |  Email |Print

From Bloomberg: U.S. housing prices are showing signs of recovery after a slide that sent values to levels last seen in 2003 and left almost a quarter of homeowners with properties worth less than their mortgages.

The S&P/Case-Shiller index of home prices in 20 cities rose 0.6 percent in February from a year earlier, the first annual gain since December 2006, the group said yesterday. The National Association of Realtors reported last week that existing-home prices advanced 0.4 percent in March as sales climbed for the first time in four months………………………………….Full Article: Source

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U.S. housing market recovery omits prices

Posted on 29 April 2010 by Laxman  |  Email |Print

From Reedconstructiondata.com: Here’s the good news about U.S. housing markets. New home starts exceeded the 600,000-unit benchmark level in all three months of 2010’s first quarter. Year-over-year starts so far in 2010 have been +17% versus the same first three months of 2009. Furthermore, all four major geographic regions have contributed to the increase.
Out front has been the West (+23.9%) followed by the Northeast (+21.9%), the Midwest (+16.5%) and the South (+13.3%)………………………………….Full Article: Source

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Tax changes in US planned to ease financial burden on foreign commercial property investors

Posted on 29 April 2010 by Laxman  |  Email |Print

From Investmentinternational.com: A plan to lower or get rid of US taxes currently imposed on foreign investors in the commercial real estate market is being considered. But it is feared that Tax breaks may not be enough of a sweetener to bring foreign buyers back into the floundering US property market, where falling rents, rising vacancies, a scarcity of debt financing and lack of property for sale have acted as deterrents.

The Real Estate Revitalization Act of 2010 is designed to stir demand by foreigners and in turn lift prices and encourage even more buying by alleviating the US tax burden imposed upon foreign sellers. The number of commercial property deals fell by 55% in 2009 after falling 62% the previous year………………………………….Full Article: Source

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‘Ideal time’ to buy Spanish property

Posted on 29 April 2010 by Laxman  |  Email |Print

From Propertyshowrooms.com: Property investment activity is set to increase in Spain after new research placed it at the top of the pile for desired locations. According to the worldwide Property Group, three quarters of potential purchasers believe that now is the ‘ideal time’ to buy overseas property.

Furthermore, a large number of respondents to the survey said that they were considering investing in the Spanish market. The news could lead to a number of individuals looking to find a home in Murcia, with the popular tourist destination able to offer good opportunities for year-round rental………………………………….Full Article: Source

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Russian market rebounds in Q1: RICS

Posted on 29 April 2010 by Laxman  |  Email |Print

From Propertyeu.info: After a year of malaise, the Russian property market rebounded with positive rents and capital values in the first quarter of 2010, according to the RICS Global Property Survey published today. At the same time, rental declines are easing in UK, France and Germany. However, there is little relief yet on this front in Greece, Ireland, Spain, Hungary and Turkey.

The commercial property upswing signalled in the second half of 2009 has persisted in the first months of this year, with Latin America and Asia leading the way………………………………….Full Article: Source

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Property prices in Turkey starting to increase but some locations still falling

Posted on 29 April 2010 by Laxman  |  Email |Print

From Propertywire.com: Residential property prices in Turkey are slowly edging upwards although some locations have not yet reached the bottom of the market, the latest real estate figures to be published show.
According to the latest monthly REIDIN Turkey Residential Property Price Index which is regarded as the most reliable and consistent benchmark of housing prices in Turkey, prices increased 0.26% in Adana, 0.36% in Ankara, 0.55% in Bursa, 0.53% in Istanbul and 0.06% in Kocaeli………………………………….Full Article: Source

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Property in Istanbul: A foothold in Asia

Posted on 29 April 2010 by Laxman  |  Email |Print

From Telegraph: Istanbul, for centuries the capital of the Ottoman Empire, and still Turkey’s cultural heart and melting pot, can be daunting. It spreads more than 60 miles from east to west and is home to 14 million people.
But such is its allure, with its character and history, landmarks such as the Blue Mosque and the Grand Bazaar’s souks, and the unique distinction of being a city that straddles two continents divided by the Bosphorus, that some British second-home hunters are happy to battle through the complexity of buying a property in the city………………………………….Full Article: Source

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South Africa posts good investment returns

Posted on 29 April 2010 by Laxman  |  Email |Print

From Propertyshowrooms.com: Individuals with a property interest in the South African market will be pleased by news that despite the economic crisis real estate in the country offered greater returns than in the US or UK last year.

The most recent real estate performance index by IPD/Sapoa demonstrated that potential investors were able to benefit from an average total return of 8.7 per cent from South African property………………………………….Full Article: Source

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GCC real estate sector – Results review FY2009

Posted on 29 April 2010 by Laxman  |  Email |Print

From Dubaichronicle.com: The GCC real estate sector has witnessed a period of rapid expansion turning it into an attractive market for investors worldwide. The sector has become the focus of many regional governments, investing billions of dollars in various projects and infrastructures. Furthermore, ease of liquidity and slack regulations have allowed real estate prices to reach record highs.

Soon after, the global financial crisis hit and the full impact of the global liquidity crunch was felt along with a retraction in oil prices, turning the once booming real estate sector into one of the hardest hit sector across the GCC………………………………….Full Article: Source

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Rent dispute cases in Dubai drop 40pct in 2009

Posted on 29 April 2010 by Laxman  |  Email |Print

From Business24-7.ae: Rent dispute cases in Dubai dropped 40 per cent in 2009 from the previous year, according to a top official of the Dubai Rent Committee. A total of 5,373 dispute cases were registered in 2009 against 9,000 cases in 2008, Mohammad Al Sheikh, General Secretary, Dubai Rent Committee, said.

In the first quarter 2010, Dubai recorded 943 rent dispute cases as opposed to 2,003 cases in 2009 and 1,635 cases in 2008 during the same period. Meanwhile, Dubai recorded a 10 per cent increase in the total number of rent dispute cases resolved in 2009………………………………….Full Article: Source

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Realty firms eye Mumbai redevelopment bonanza

Posted on 29 April 2010 by Laxman  |  Email |Print

From Livemint.com: Real estate developers in Mumbai are preparing to bid for several redevelopment schemes that the Maharashtra government is planning in the city.

Top developers such as Unitech Ltd, DB Realty Ltd, Ackruti City Ltd and Orbit Corp. Ltd are eyeing the projects, which typically do not need much capital but fetch high returns………………………………….Full Article: Source

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China mulls over tax on residential property

Posted on 29 April 2010 by Laxman  |  Email |Print

From Asiaone.com: China is likely to introduce a property tax on residential housing in the first half of the year as part of its attempts to curb spiralling real estate prices, state media reported yesterday.

Such a move would mark a significant escalation of its struggle to cool down a booming property market now widely described as a bubble, the Wall Street Journal said………………………………….Full Article: Source

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New steps by China to contain real estate prices

Posted on 29 April 2010 by Laxman  |  Email |Print

From Nytimes.com: China is expected to impose a moratorium on share issues by real estate companies in mainland markets as part of a broader campaign to rein in rising property prices, state media said Wednesday, potentially blocking $16.1 billion in capital-raising.

The move could delay plans by 45 Chinese companies to raise about 110 billion renminbi, China Daily said, citing unidentified people close to the China Securities Regulatory Commission………………………………….Full Article: Source

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China to suspend share issues by property firms

Posted on 29 April 2010 by Laxman  |  Email |Print

From Reuters: China will slap a moratorium on domestic share issues by real estate firms as part of a broader campaign to rein in surging property prices, potentially blocking $16.1 billion in capital raising, state media said on Wednesday.
The move could delay plans by 45 Chinese companies to raise a total of about 110 billion yuan through share sales, unidentified sources close to the China Securities Regulatory Commission told the China Daily………………………………….Full Article: Source

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China property bonds flying, but risks lurk

Posted on 29 April 2010 by Laxman  |  Email |Print

From Reuters: China’s developers have been aggressively issuing U.S. dollar bonds this year, with the pace likely to quicken as they take advantage of low funding costs overseas and in anticipation of tighter monetary policy at home.
However, an oversupply in the bonds market and mounting debt problems in Greece could sap investor appetite in the near term, meaning that Chinese developers would have to price their bonds with a higher coupon rate, industry executives said………………………………….Full Article: Source

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Ongoing unrest to hurt Bangkok?

Posted on 29 April 2010 by Laxman  |  Email |Print

From Themovechannel.com: The Bangkok property market has proved quite resilient in recent years but the ongoing political unrest will hurt foreign sentiment, while local buyers are likely to take events in their stride, according to real estate experts.

‘A lot of buying in Bangkok is for end users, owner occupiers, and people still need a roof over their head and this situation doesn’t have any impact on that,’ said Robert Collins, managing director of Savills (Thailand)………………………………….Full Article: Source

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You’re a real estate investor and market sucks – Now what

Posted on 29 April 2010 by Laxman  |  Email |Print

From Stockmarketsreview.com: It’s 2010 and the big hot topic on the news as the current economy. What is a real estate investor to do in a down market? What can a real estate investor do to increase their portfolio? Can I continue being a real estate investor in this economy/market?
What are we going to do to fix the current economy? Who’s going to fix the current economy? How much money do we have to give large companies in order to fix their bottom line? Who’s to blame? How was the President-elect going to save us?…………………………………Full Article: Source

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Canadians should be wary of potential housing bubble: Edward Jones report

Posted on 28 April 2010 by Laxman  |  Email |Print

From Calgaryherald.com: House prices are rising faster than economic fundamentals warrant and could decline with a housing “bubble” developing but not a “bust,” says Edward Jones in a report.

“Canada’s housing market escaped the recent severe downturns in the U.S. and other countries,” said the report authored by Kate Warne and Craig Fehr. “However, today’s conditions in Canada share some characteristics of those countries prior to their downturns, leading us to take a cautious stance on housing investments…………………………………..Full Article: Source

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Canada: Property market showing 2 of 3 ‘bubble’ signs

Posted on 28 April 2010 by Laxman  |  Email |Print

From Canoe.ca: Canada’s real estate market is demonstrating two of the three “bubble” characteristics and Canadians should brace themselves for the possible impact of a housing downturn, investment firm Edward Jones said in a report Tuesday.

“Despite recent economic strength, housing prices have outpaced the overall economy, including unemployment trends and Gross Domestic Product Growth,” the report authored by analysts Kate Warne and Craig Fehr said…………………………………..Full Article: Source

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Home prices in U.S. cities rise less than forecast

Posted on 28 April 2010 by Laxman  |  Email |Print

From Bloomberg: Home prices in 20 U.S. cities rose less than forecast in February from a year earlier, a sign a housing recovery will take time to develop.

Home prices in February were 30 percent below the peak reached in July 2006, indicating the industry that helped trigger the worst recession since the 1930s will take years to recover lost ground…………………………………..Full Article: Source

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US: Home prices post first annual rise in 3 years

Posted on 28 April 2010 by Laxman  |  Email |Print

From Ibtimes.com: Prices of single-family homes fell in February on a monthly basis but posted the first annual increase in more than three years, Standard & Poor’s/Case Shiller home price indexes showed on Tuesday.

The report suggests more price erosion is possible before prices start rising on a sustained basis, S&P said. The price improvement can be attributed to momentum from the federal homebuyer tax credits, which expire on April 30, and prices could be pressured further by foreclosure sales…………………………………..Full Article: Source

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U.S.: Tomorrow’s real estate trouble spots

Posted on 28 April 2010 by Laxman  |  Email |Print

From Forbes: Like cities in California, Florida, Nevada and Arizona, Atlantic City saw a dramatic run-up in prices during the housing boom due, in part, to speculative purchases of second homes; Atlantic County includes popular beachfront spots such as Margate.
But while those bubble markets have already burst, Atlantic City still has significant price depreciation ahead; Local Market Monitor predicts the metro’s median home price will fall 9% in the next year…………………………………..Full Article: Source

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Europe: Pension funds eyed property in 2009-study

Posted on 28 April 2010 by Laxman  |  Email |Print

From Reuters: European pension funds hired more fund managers in 2009 than in the previous year to take advantage of bargains in crisis-hit asset classes, a study by Mercer said on Tuesday.

In the UK, manager searches recovered to pre-crisis levels hitting 245 from 189 in 2008 and 242 in 2007…………………………………..Full Article: Source

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UK: Housing market ‘losing momentum’

Posted on 28 April 2010 by Laxman  |  Email |Print

From UKPA: The housing market continued to lose momentum during April as potential buyers remained cautious in the face of the General Election, research has shown.

The rate at which properties in England and Wales came on to the market also outstripped demand from new buyers for the third consecutive month, further reducing the recent upward pressure on prices…………………………………..Full Article: Source

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Spain’s property prices continue to fall, but how much?

Posted on 28 April 2010 by Laxman  |  Email |Print

From Buyassociation.co.uk: Agents and country officials are at odds at how much real estate prices have dropped in Spain over the last few months.

The National Statistics Institute announced last week that home prices fell 4.5 percent during the first quarter of this year, while emphasizing that sales were up by 18.7 percent total within the last year, and 7.2 percent alone in February from January—the largest rise in month-to-month sales since 2007, according to the index…………………………………..Full Article: Source

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Positive predictions for Abu Dhabi property market

Posted on 28 April 2010 by Laxman  |  Email |Print

From Shelteroffshore.com: There has always been an imbalance between demand and supply in Abu Dhabi’s residential property market, which inevitably leads to high rents. This had long been the case until 2009 when the trend reversed, demand dropped and the rents declined.

Abu Dhabi is not alone in experiencing this trend; in fact it’s a story familiar in cities around the world following the global economic downturn. However Abu Dhabi properties still remain at a premium in comparison with neighbouring Dubai properties with the average rental cost of a two bedroom apartment being AED 150,000 versus AED 120, 000 in Dubai…………………………………..Full Article: Source

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UAE: Renewed optimism boosts property demand: CBRE

Posted on 28 April 2010 by Laxman  |  Email |Print

From Business24-7.ae: Renewed level of optimism from investors led to an increase in the overall property enquiry numbers in Abu Dhabi, while Dubai is expected to see modest transactional activity as banks relax lending rules, CB Richard Ellis (CBRE) said yesterday.

“A number of banks have made moves to relax lending terms in order to help stimulate growth in the mortgage market. As a result, we anticipate some modest activity in the transactional market. However, this activity will be largely focused on already established locations and properties ready for occupation,” Matthew Green, Head of Research and Consultancy, UAE, CBRE Middle East, said…………………………………..Full Article: Source

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Consolidation is key for the real estate sector

Posted on 28 April 2010 by Laxman  |  Email |Print

From Business24-7.ae: Consolidation and restructuring will lead to a more balanced and mature property market in Dubai with strong long-term prospects, Jones Lang LaSalle (JLL) said yesterday.

The consultancy said in its global perspective report said that the Dubai government was committed to dealing with the real estate crisis, and this was evident from the cash injection in Nakheel…………………………………..Full Article: Source

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India: Real estate funds back in vogue

Posted on 28 April 2010 by Laxman  |  Email |Print

From Business-standard.com: Looking at the subdued demand for realty investments in international markets, Indian fund managers and property developers are betting big on domestic real estate funds.
Fund managers and realtors plan to mop up nearly Rs 7,500 crore from domestic institutional and retail investors. At least, four fund managers and a similar number of realtors are either planning to launch or have recently launched their funds…………………………………..Full Article: Source

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Fund managers gung-ho about realty debt papers

Posted on 28 April 2010 by Laxman  |  Email |Print

From Indiatimes.com: The outlook on real estate sector may not be too bright at the moment, but that is not deterring mutual funds from investing in paper issued by property developers.

In addition to the old restructured papers of Gurgaon-based builder Unitech, debt schemes of fund houses like SBI, ICICI and UTI have invested in papers of companies like K Raheja, Emmar MGF Land and Shapoorji Pallonji…………………………………..Full Article: Source

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