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Real Estate Briefing - Archive | May, 2010

List of failed US banks grows as bad real estate loans pile up

Posted on 31 May 2010 by Laxman  |  Email |Print

From Gulfnews.com: Three Bank of Florida lenders were closed by regulators Friday. The company sold about $1.2 billion (Dh4.40 billion) in deposits to EverBank, a firm that specialises in online banking, as the latest round of bank closures sent the 2010 toll to 78.

EverBank purchased the three banks from the Federal Deposit Insurance Corporation (FDIC), which was named receiver, according to statements on the agency’s website. Lenders in California and Nevada were also closed, with City National buying the Las Vegas-based Sun West Bank…………………………………….Full Article: Source

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The future of retail in EMEA - Change is coming: JJL

Posted on 31 May 2010 by Laxman  |  Email |Print

From Europe-re.com: Jones Lang LaSalle launched Retail 2020, a definitive study of the rapidly changing global retail landscape over the next ten years via a bespoke interactive website. The research will cover all factors expected to impact EMEA retail real estate by 2020 including economic, technological, demographic and cultural changes and asks: What does the future hold, and how can the major players stay ahead of the game?
Robert Bonwell, CEO EMEA Retail at Jones Lang LaSalle, explained: “Over the next ten years, the whole global retail landscape looks set to experience a period of dramatic change. Whether owner or occupier, landlord or retailer, conditions are going to be tougher in the coming decade than they were in the previous ten years – but there will also be massive opportunities for those who can ally quick, radical action with impeccable judgement.”……………………………………Full Article: Source

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UK: Property market surges as Hips axed

Posted on 31 May 2010 by Laxman  |  Email |Print

From UKPA: Property website Rightmove has become the latest group to say it had seen a surge in properties coming on to the market following the abolition of home information packs (Hips). The group said listings on its website had soared by 35% in the seven days after the Government said it was scrapping the controversial packs with immediate effect.

Miles Shipside, commercial director of Rightmove, said: “We would expect to see a post-election pick-up in fresh stock coming to the site as people have been put off by the uncertainty of the election recently.”……………………………………Full Article: Source

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UK government looks to support housing market

Posted on 31 May 2010 by Laxman  |  Email |Print

From Financialadvice.co.uk: The UK government has given permission to local councils to turn down future housing applications leading to concern that we could see a reduction in the number of homes in the UK and the price of existing homes squeezed higher.
Whether this would be an artificial way to support markets in the short term remains to be seen but it is not the perfect solution to what is a very difficult and very challenging situation…………………………………….Full Article: Source

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Commercial property one of UK’s most attractive investments

Posted on 31 May 2010 by Laxman  |  Email |Print

From Propertyfundsworld.com: Commercial property is one of the most attractive investments in the UK today, according to Peter Lucas, investment strategist at RBC Wealth Management. The introduction of quantitative easing in the first quarter of 2009 sparked a significant rally in financial assets.

Yields on both corporate and inflation-linked bonds fell sharply as deflationary and depression-type scenarios were priced out of the markets…………………………………….Full Article: Source

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Is now the time to remortgage?

Posted on 31 May 2010 by Laxman  |  Email |Print

From Citywire.co.uk: Uncertainty about what will be in the June emergency Budget is unsettling the property market and if you believe that prices are in for another setback, now could be the time to remortgage – particularly if you have been suffering from a lack of equity in your home.

House prices have risen by an average of 10% over the past year which will have improved the situation for many who would otherwise have had difficulty finding a cheaper deal, although there are still a lot of homebuyers who are suffering and house price increases have been patchy and often localised……………………………………Full Article: Source

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London luxury-home prices gain on demand from Russian buyers

Posted on 31 May 2010 by Laxman  |  Email |Print

From Bloomberg: London luxury-home prices climbed in May for the seventh straight month as the pound’s weakness attracted buyers from abroad, Knight Frank LLP said.

Houses and apartments costing more than 1 million pounds ($1.4 million) gained 20 percent from a year earlier, the London-based property broker said in a statement today. Prices increased 1.4 percent during the month. They’re still down 6.4 percent from the market’s peak in March 2008…………………………………….Full Article: Source

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Estonia is in danger of default construction

Posted on 31 May 2010 by Laxman  |  Email |Print

From Globalist.org.ua: In I quarter of the total value of construction works completed in Estonia decreased by 46,4% from the previous quarter. In comparison with I quarter 2009 decline of the indicator was 40%. At the same time in the segment of building construction volume decreased by 40,6%, and in the segment of infrastructure - on 38,9%, according to a report of the Estonian Statistical Office.

Quantity constructed for January-March of residential property increased by 11,4% compared to the same period last year…………………………………….Full Article: Source

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Fall in Abu Dhabi villa prices slows

Posted on 31 May 2010 by Laxman  |  Email |Print

From Business24-7.ae: Decline in villa prices in Abu Dhabi has slowed in the first quarter 2010, as prices fell five per cent in comparison to the fourth quarter of 2009, real estate consultants said.

Prices fell 15 per cent in the fourth quarter 2009 compared to the third quarter 2009, they added…………………………………….Full Article: Source

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India: Demand for high-end properties on the rise

Posted on 31 May 2010 by Laxman  |  Email |Print

From Business-standard.com: Premium residential housing is back in vogue with a tangible improvement in the real estate sector. To match the increasing demand, developers are launching new projects in this space, adding to their present portfolio.

“As the economy is growing and income levels are rising, there is a rise in demand for high quality and premium housing,” J C Sharma, managing director of Sobha Developers, said…………………………………….Full Article: Source

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India: Real estate projects boom in Tier-II and Tier-III cities

Posted on 31 May 2010 by Laxman  |  Email |Print

From Business-standard.com: Real estate companies are trying to cash in on the demand for residential and office space in Tier-II and Tier-III cities. Most of them have ambitious projects in this financial year.

DLF, the largest realty firm in the country, feels with economic growth faster in the smaller cities, there will be more demand there. Its DLF Garden City project in Indore has been a major success, with the first phase being sold. The company is planning to launch the second phase during the current financial year…………………………………….Full Article: Source

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China real estate bubble bursts in bond market

Posted on 31 May 2010 by Laxman  |  Email |Print

From Bloomberg: Dollar bonds sold by China real estate companies this year are the worst performers among Asian non-financial corporate debt denominated in the U.S. currency amid concern the nation’s property market is overheating.

Yields on the $3.9 billion of bonds issued by Kaisa Group Holdings Ltd., Country Garden Holdings Co. and seven other developers since January widened by an average 2.26 percentage points relative to Treasuries as of last week, according to data compiled by Bloomberg……………………………………Full Article: Source

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China housing market a bubble; gov’t policies able to reduce potential damage: economist

Posted on 31 May 2010 by Laxman  |  Email |Print

From Xinhua: China’s booming housing market is a bubble, evidenced by a series of statistics and the actions the central government is taking, an economist said here Saturday.

“A series of indicators - including ratios of housing prices to people’s income, to rent, and to construction cost - all point to a bubble in the housing market,” said Yao Shujie, head of the School of Contemporary Chinese Studies, University of Nottingham…………………………………….Full Article: Source

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Hanoi’s real estate is overheated

Posted on 31 May 2010 by Laxman  |  Email |Print

From Vovnews.vn: In 2009, despite the global economic recession and a decline in domestic economic growth, the real estate market quickly rebounded and contributed to preventing economic downturn, stabilising the macroeconomy and ensuring social welfare.

Deputy Minister of Construction Nguyen Tran Nam said that the buoyant real estate market is due to the huge demand for housing and commercial real estate…………………………………….Full Article: Source

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Australia: Commercial property bad debts weigh down banks

Posted on 31 May 2010 by Laxman  |  Email |Print

From Smh.com.au: The weak commercial property sector is continuing to cause concern among the country’s biggest banks, which have $200 billion in loans exposed to the vagaries of the industry’s recovery.

Of the largest financial commitments made on a geographical basis, four states - NSW, Victoria, Queensland and Western Australia - are now firmly in the sights of lenders looking to reduce the financial burden on their balance sheets…………………………………….Full Article: Source

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U.S. home loan rates near record low on Europe crisis

Posted on 28 May 2010 by Laxman  |  Email |Print

From Bloomberg: Europe’s debt crisis is translating into lower mortgage rates for Americans as investors fleeing to the refuge of U.S. bonds push borrowing costs close to December’s record low.
The average U.S. rate for a 30-year fixed mortgage fell to 4.78 percent for the week ended today from 4.84 percent, Freddie Mac said in a statement today. The record low is 4.71 percent. This week’s average 15-year fixed rate was 4.21 percent, the McLean, Virginia-based mortgage finance company said……………………………………….Full Article: Source

U.S. real estate ETFs rebound

Posted on 28 May 2010 by Laxman  |  Email |Print

From Thestreet.com: Despite their position at the epicenter of the recent mortgage meltdown, many U.S. real estate ETFs have rebounded nicely in 2010. In fact, of the 13 ETFs in the domestic Real Estate ETFdb Category only one has posted a loss for the year.
This is in sharp contrast to the Global Real Estate ETFdb Category which has seen all ten of its funds post a loss on the year……………………………………….Full Article: Source

Believe it or not: U.S real estate ETFs crushing international counterparts

Posted on 28 May 2010 by Laxman  |  Email |Print

From Etfdb.com: With many equity markets plunging around the globe, investors are flocking towards safe-haven investments. This flight to quality has left many investors piling into U.S. Treasury bonds and the U.S. dollar in general.
This has helped to sink commodity prices and send T-Bill yields lower decreasing the desirability of each substantially as asset classes to stash cash in. This leaves one type of investment that most investors would not consider given recent market events; real estate……………………………………….Full Article: Source

Retail real estate in a stronger position as we approach mid-year

Posted on 28 May 2010 by Laxman  |  Email |Print

From Propertyfundsworld.com: The overall vacancy rate for the US retail real estate market increased from 10.7 per cent to 11.0 per cent during just the first quarter of 2010, but the worst of the haemorrhaging seems to be behind us, according to a report by Colliers International.
Colliers expects the overall retail vacancy rate to tick further upward during Q2, but by the end of 2010 vacancies should begin to level off and clear signs of recovery will become evident in 2011……………………………………….Full Article: Source

Mexico real estate developer tries new IPO plan

Posted on 28 May 2010 by Laxman  |  Email |Print

From Reuters: Mexican real estate developer Tres Marias aims to go public by June 8 under a new financing scheme that allows smaller companies to tap capital markets, the company said on Thursday.
The third initial public offering since mid-2008 in Mexico, the deal will be the country’s first under a plan that lists companies shares over a period of time instead of all at once……………………………………….Full Article: Source

European recovery will be ‘anaemic’, IPD delegates told

Posted on 28 May 2010 by Laxman  |  Email |Print

From Propertyeu.info: Recovery of the European property market will take longer and be paler than most people would have wished, Joe Valente, Head of Investment Strategy at Allianz Real Estate, told delegates at the second day of the annual IPD conference in Amsterdam on Thursday.
‘We had a very virulent downturn. The inevitable consequence of that is that recovery will be pale, anaemic and drawn out. There’s no way out of that.’………………………………………Full Article: Source

Real estate sector to miss 2020 sustainability target: RICS

Posted on 28 May 2010 by Laxman  |  Email |Print

From Propertyeu.info: One in five surveyors globally believe that 90% of the commercial real estate stock will still fall short of meeting good sustainable standards by 2020 without a rethink of green incentives, according to the RICS survey of commercial property agents.
The numbers are even starker at a regional level with nearly half (49 percent) of all surveyors in Latin America believing that it will take more than a decade for even a small minority (1 in 10) of the commercial real estate stock to meet good sustainable standards such as those championed by LEED and BREEAM, the RICS Global Property Sustainability Survey Q1 2010 indicates……………………………………….Full Article: Source

UK: House prices will stall, says Nationwide

Posted on 28 May 2010 by Laxman  |  Email |Print

From Thisismoney.co.uk: The property market will stall as high asking prices and limited mortgage availability hit home, says Nationwide. Britain’s biggest building society said storm clouds remain on the horizon for the property market, as it announced annual results yesterday.
And they have been forecast to hit at the same time Government spending cuts and potential interest rate rises arrive……………………………………….Full Article: Source

UK: Property companies to raise fresh capital

Posted on 28 May 2010 by Laxman  |  Email |Print

From Telegraph: Analysts at Nomura have warned that the UK’s largest Real Estate Investment Trusts (REITs) are going to have to carry out second wave of rights issues or cut their dividends.
Mike Prew, an analyst at Nomura, said that the way that REITs present their revenue streams in their accounts hides the fact that in many cases their cash flows are not adequately covering dividend payments. ………………………………………Full Article: Source

UK property portfolio values increase

Posted on 28 May 2010 by Laxman  |  Email |Print

From Moneyavenue.co.uk: The rises in house prices across the United Kingdom have been reflected in the overall value of portfolios of landlords - investors interested in residential property.
In the first quarter of 2010 it has grown to £1.52 million (a 6.1% increase). The figure is more than 4% up from that registered in the 4th quarter of 2009……………………………………….Full Article: Source

Merkel plan may kill $110 bln realty funds, BVI group says

Posted on 28 May 2010 by Laxman  |  Email |Print

From Bloomberg: Plans by Chancellor Angela Merkel’s government to make open real-estate funds more attractive to savers may backfire, killing off a 90 billion-euro ($110 billion) industry, said German’s biggest investment federation.
Four of Germany’s 45 funds froze their assets this year and more may follow as a planned compulsory writedown on assets such as property sparked a wave of cash withdrawals, said BVI group board member Barbara Knoflach. The measure is aimed at helping investors better gauge their stakes’ values amid “volatile” swings in prices, the draft government bill says……………………………………….Full Article: Source

Scottish property market in slowdown

Posted on 28 May 2010 by Laxman  |  Email |Print

From Assetz.co.uk: The Scottish property market saw a slowdown in the first three months of 2010, the Council of Mortgage Lenders (CML) has observed.
Figures from the CML revealed that during this period, the number of homebuyer loans issued for Scottish residences dropped from 14,400 to 9,700, with the total value dipping from £1.6 billion to £1.1 billion……………………………………….Full Article: Source

Bulgaria’s capital small housing market shows signs of recovery

Posted on 28 May 2010 by Laxman  |  Email |Print

From Novinite.com: After a temporary retreat, in May investors show renewed interest in the urban real estate market, a study of GreenLife shows.
The buyers are looking for small, but attractive plots, and aim at profiteering from lower land and construction prices……………………………………….Full Article: Source

Threats to South Africa’s property market

Posted on 28 May 2010 by Laxman  |  Email |Print

From Realestateweb.co.za: Steep increases in municipal rates, electricity and service charges will be one of the factors to watch in the property market according to Absa’s senior Property Analyst Jacques du Toit. This and possible increases in interest rates were two of the potential threats to the property market in the coming months.
Du Toit recently addressed the 2010 ARELLO District 6 meeting in Sandton about the prospects of the local housing market going forward and said it was unlikely that the property market was heading for a boom, despite the recent recovery in house prices………………………………………Full Article: Source

The real estate bust hits oman’s blue city

Posted on 28 May 2010 by Laxman  |  Email |Print

From Businessweek.com: Blue City, a $20 billion real estate development, was supposed to help transform Oman, the Persian Gulf nation of about 3 million people. Government officials extolled the project as an important step in its plan to diversify the economy and prepare for the depletion of oil reserves.
But Blue City, envisioned as a community for more than 200,000 people, missed sales targets as real estate speculators left Middle Eastern markets and a legal battle between the project’s owners made potential buyers wary. Now it may face liquidation……………………………………….Full Article: Source

India’s biggest land deals

Posted on 28 May 2010 by Laxman  |  Email |Print

From Rediff.com: Property in Mumbai has always been a real estate developer’s prized catch. Over the years Mumbai has topped the list of cities with the most expensive property prices.
Land is the most precious resource today and builders are willing to pay any price to establish a foothold in the country’s financial capital……………………………………….Full Article: Source

India: Investors inflate realty rates

Posted on 28 May 2010 by Laxman  |  Email |Print

From Hindustantimes.com: As if real estate was not already out of reach of the average Mumbaiite, new stakeholders entering the market as investors are pushing realty rates even higher.
The last three months have seen a slew of pre-launches or soft launches by developers in which investors or ‘speculators’ have bought residential realty in bulk……………………………………….Full Article: Source

China property crash key to stocks bull run, Xie says

Posted on 28 May 2010 by Laxman  |  Email |Print

From Bloomberg: China needs a property crash for stocks to return to a bull market because that would jolt investors into switching money to equities, former Morgan Stanley economist Andy Xie said.
“The property market is sucking in all the money,” said Xie, who correctly predicted in April 2007 that China’s equities would tumble, at a forum in Beijing today. “Without the property market crashing” a bull market in stocks is “unlikely,” he said……………………………………….Full Article: Source

China: Housing rush shows no sign of abating

Posted on 28 May 2010 by Laxman  |  Email |Print

From Cens.com: For all the government`s efforts to check its advance, the bull appears to continue raging the realty market, as outstanding construction loans, mainly for funding realty development projects, hit NT$1.095 trillion and outstanding home loans topped NT$4.967 trillion in April, both record highs, according to statistics released by the Central Bank of China.
Banking managers remarked that the realty boom will last for a while, as low interest rates have encouraged people to purchase houses and realty developers to roll out new projects……………………………………….Full Article: Source

Global markets at recovery inflection point: ING REIM

Posted on 27 May 2010 by Laxman  |  Email |Print

From Propertyeu.info: The recovery in global real estate markets is playing out rapidly in 2010, faster than forecast at the end of last year, and has now reached a crucial inflection point in terms of sustaining momentum, ING Real Estate Investment Management (ING REIM) has said in its latest Global Vision Update research report.
Timothy Bellman, global head of Research & Strategy at ING REIM said: ‘There have been clear signs of markets for prime properties stabilising and recovering in the first five months of the year……………………………………….Full Article: Source

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Global housing crisis ‘effectively over’

Posted on 27 May 2010 by Laxman  |  Email |Print

From 24dash.com: The global housing bust is effectively over. According to the Global Property Guide’s latest survey of official house price statistics, 19 out of 36 countries experienced house price increases during the year to end-Q1 2010.
Furthermore, out of 15 countries with house price falls, eight saw slower rates of decline in the year to end-Q1 2010 compared to the previous year. Countries in severe crisis that show no sign of recovery now include only Ireland, Bulgaria and, for political reasons, Thailand……………………………………….Full Article: Source

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Is the housing market on the rebound?

Posted on 27 May 2010 by Laxman  |  Email |Print

From Time.com: Spring is typically the season when people shop for houses. Many families like to complete their home purchase by the end of the summer so as to not uproot their children during the school year.
And let’s face it: houses just look more enticing when flowers are out. But the real estate bust and economic downturn have made the past few housing hunting seasons rather slow. Some buyers have waited on the sidelines hoping prices had further to drop……………………………………….Full Article: Source

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More US commercial property vacancies ahead - group

Posted on 27 May 2010 by Laxman  |  Email |Print

From Reuters: Vacancy rates will rise at most U.S. commercial properties into 2011 due to the delayed effects of the recession, the National Association of Realtors (NAR) forecast on Wednesday.
Apartment buildings will probably be the only type of commercial property to see a drop in vacancies, the NAR said in an outlook. Vacancies are a key measure of the income needed to pay debts and help dictate the value of properties……………………………………….Full Article: Source

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US commercial property in a slump

Posted on 27 May 2010 by Laxman  |  Email |Print

From Amsterdamnews.net: Concerns about prices of commercial property in the US have come about due to the default rate for commercial mortgages hitting a high level in the first quarter.
Larger banks and smaller regional banks have released figures that show the default rate for bank-held commercial mortgages reached 4.17 percent in the first quarter, up from 3.83 percent in the fourth quarter 2009……………………………………….Full Article: Source

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US luxury home builder Toll Brothers says housing market is turning the corner

Posted on 27 May 2010 by Laxman  |  Email |Print

From Proactiveinvestors.com: One of America’s largest luxury home builders, Toll Brothers Inc , told investors that its business has “finally emerged from the tunnel and into a bit of daylight”, as the company’s Q2-2010 results showed sharply narrowing losses compared to the same period in 2009.
For the second quarter of the financial year ended 30 April 2010, Toll Brothers reported a net loss of US$40.4 million, which equates to US$0.24 per share, compared to an US$83.2 million / US$0.52 per share net loss in Q2-2009……………………………………….Full Article: Source

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Canadian invasion: Investors keen on in Manhattan real estate

Posted on 27 May 2010 by Laxman  |  Email |Print

From WSJ: The Canadians are coming. This morning, we wrote about how the Related Cos., the major New York real-estate developer, landed a Canadian pension fund as their equity partner for the signature Hudson Yards redevelopment project.
Oxford Properties Group, the real-estate arm of the Toronto-based Ontario Municipal Employees Retirement System, will commit up to $475 million for the project. That gives Related the green light to begin scouting for tenants to anchor the three corporate headquarters sites……………………………………….Full Article: Source

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U.S.-style housing market collapse not likely in Canada, CREA says

Posted on 27 May 2010 by Laxman  |  Email |Print

From Calgaryherald.com: Canadian homeowners are unlikely to experience a U.S.-style decline in the value of their homes, says a report released today by the Canadian Real Estate Assocation.
Instead, home prices will stabilize and will remain stable for some time, said the report……………………………………….Full Article: Source

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Realtors to Canadians: Chill out

Posted on 27 May 2010 by Laxman  |  Email |Print

From Ctv.ca: There will be no drastic drop in Canadian housing prices, the Canadian Real Estate Association said Thursday, because house prices will stabilize and climbing household income will make owning a home more affordable.
Responding to reports from some of the country’s largest banks that prices could see drops of as much as 10 per cent in the next two years as higher mortgage rates and rising prices make housing more expensive, the association said the naysayers are ignoring the cyclical nature of Canada’s real estate market……………………………………….Full Article: Source

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Nationwide confident on UK housing market

Posted on 27 May 2010 by Laxman  |  Email |Print

From Financialadvice.co.uk: The Nationwide, the UK’s largest building society and a major player in the property sector, has today issued a report suggesting that the UK property sector should remain fairly stable over the next 6 to 12 months.
The lender believes that upward pressure on property prices will decrease in the short to medium term as more properties come onto the market……………………………………….Full Article: Source

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Property investment portfolios in the UK rise as landlords are more confident about the outlook for the lettings sector

Posted on 27 May 2010 by Laxman  |  Email |Print

From Investmentinternational.com: The general improvement in UK house prices is reflected in the value of residential property investors’ portfolios with the average value jumping 6.1% to £1.52 million in the first three months of the year.
The rate of growth in portfolio values accelerated during the first quarter of 2010 and was up from the 4.2% growth recorded during the final quarter of 2009, research from Paragon Mortgages shows……………………………………….Full Article: Source

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Bank of Spain proposes squeeze on bank real estate

Posted on 27 May 2010 by Laxman  |  Email |Print

From Reuters: The Bank of Spain intends to tighten rules on provisions Spanish banks have to make against real estate on their balance sheets, it said in a statement late Wednesday.
The central bank said these new requirements could result in an increase of 2 percent in provisioning Spanish banks had to make and could reduce pre-tax profits in their domestic business by an average of around 10 percent……………………………………….Full Article: Source

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Jordan real estate market ’still promising’

Posted on 27 May 2010 by Laxman  |  Email |Print

From Jordantimes.com: Experts and economists agreed on Wednesday that the outlook for Jordan’s real estate sector is still promising. They explained that the property market in Jordan enjoys a supply-demand balance, unlike the real estate market in the Gulf region, which was given a negative outlook by Moody’s Ratings Agency due to oversupply of housing units and tight credit conditions.
Zuhair Omari, the president of the Housing Investors Society (HIS), said that demand on apartments is expected to grow in the coming months because people realised that prices of residential units are stable and are not going to fall but instead may rise……………………………………….Full Article: Source

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Saudi property investors eye 10pct gain in 2010 - JLL

Posted on 27 May 2010 by Laxman  |  Email |Print

From Ameinfo.com: Jones Lang LaSalle, a leading global commercial real estate management and investment services company, and the largest in the Middle East, has reported that investors expect a 10% gain in Saudi Arabia’s real estate market over the next 12 months. Far exceeding expectations in other Middle East markets.
Jones Lang LaSalle’s recent Investor Sentiment Survey reveals investors expect Saudi Arabia to have the strongest performing real estate market in Mena over the next 12-24 months……………………………………….Full Article: Source

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Dubai’s new property law ‘will do little now’

Posted on 27 May 2010 by Laxman  |  Email |Print

From Tradearabia.com: A new law that defines the rights, responsibilities and obligations of all parties in jointly owned properties in Dubai will comfort investors but do little to boost demand for properties in the short term, analysts say.
Guidelines implementing the long-awaited Strata Law were published by the Land Department on Tuesday, in a bid to help the emirate on its path to mature market status, but comes against a backdrop of residential and office oversupply……………………………………….Full Article: Source

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Two deals inject $225mln into Dubai realty market

Posted on 27 May 2010 by Laxman  |  Email |Print

From Business24-7.ae: Two real estate deals worth more than Dh800 million have just been struck in Dubai – a strong indicator that high net worth individuals (HNWIs) in the GCC have not only restarted exploring realty deals but are actually executing them.
The two deals are for properties in Jumeirah and the Business Bay area involving total investment of $225m (Dh826.42m)……………………………………….Full Article: Source

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