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Real Estate Briefing - Archive | October, 2010

Global volumes constrained by product availability: JLL

Posted on 29 October 2010 by Laxman  |  Email |Print

From Propertyeu.info: Global direct commercial real estate investment volumes totalled $69 bn (EUR 49.5 bn) in the third quarter of 2010, according to a preliminary figures from Jones Lang LaSalle. This level is similar to the second quarter of 2010 and indicates that the recovery in investment activity seen in the previous four quarters has levelled off.
Europe, Middle East and Africa (EMEA) turned in a 12% decline in volumes compared to Q2 at EUR 21 bn. However, full-year volumes are expected to be 30% higher than in 2009……………………………………….Full Article: Source

Report says global CRE recovery “uneven”

Posted on 29 October 2010 by Laxman  |  Email |Print

From Reit.com: A steadily growing number of commercial real estate transactions are occurring around the world, but not all regions have seen uniform improvement, according to a report from research firm Real Capital Analytics (RCA).
Specifically, while activity was heating up in the Pacific Rim and Americas during the third quarter, sales in Europe, the Middle East and Africa were declining……………………………………….Full Article: Source

Canadian housing market is regaining its balance

Posted on 29 October 2010 by Laxman  |  Email |Print

From Montrealgazette.com: After a little bubble of fear-mongering in the media this year, you don’t hear so much these days about the horrors allegedly in store for Canada from the bursting of a housing bubble.
That’s probably because the evidence is piling up that there was no such bubble and, maybe not surprisingly, the nonexistent bubble isn’t bursting……………………………………….Full Article: Source

US: New-home sales climb 6.6 pct in September 2010

Posted on 29 October 2010 by Laxman  |  Email |Print

From Rismedia.com: Sales of new homes climbed 6.6% in September 2010, figures released by the federal government showed, representing the second straight month of gains, but still well below the pace when a tax credit existed. Sales of new single-family homes rose 6.6% to a seasonally adjusted annualized rate of 307,000, which is stronger than the 300,000 that economists expected in a MarketWatch-compiled poll.
A recent report showed sales of existing homes were also stronger than expected, rising 10%, and the two reports lend support to some economists who believe housing demand hit a bottom in late summer……………………………………….Full Article: Source

DTZ issues profit warning as recovery in Europe lags

Posted on 29 October 2010 by Laxman  |  Email |Print

From Propertyeu.info: DTZ has issued a profit warning, citing ‘challenging trading conditions’ for the UK & Ireland as well as its Continental Europe, Middle East and Africa (CEMEA) business.
The London-listed global real estate adviser announced on Thursday that it expects its results for the full year to 30 April 2011 to be below current market expectations and the company expects to report a small loss for the year……………………………………….Full Article: Source

Investors beginning to weigh up fund terminations, says INREV

Posted on 29 October 2010 by Laxman  |  Email |Print

From IPE: Real estate investors are beginning to consider liquidation as a fund exit strategy for the first time since 2007, according to the European Association for Investors in Non-listed Real Estate Vehicles (INREV).
The 2010 INREV Fund Termination Study showed most investors continued to favour extending the life of funds, as they have over the past two years, in a bid to avoid selling assets when they might sell for more in the future……………………………………….Full Article: Source

UK: Are commercial property markets flattening?

Posted on 29 October 2010 by Laxman  |  Email |Print

From Morningstar.co.uk: Investors have seen a remarkable recovery in property market conditions over the last 18 months. The UK commercial property IPD index peaked in August 07 and subsequently fell over 35% bottoming in July 09. Lending markets almost completely closed in some areas and at the same time demand from tenants was weak.
UK property funds experienced significant redemptions prompting them to sell properties into a falling market in order to raise cash……………………………………….Full Article: Source

UK house price growth weakens in Q3 2010

Posted on 29 October 2010 by Laxman  |  Email |Print

From Globalpropertyguide.com: Residential property price increases weakened in Q3 2010 in the UK, with planned spending cuts looming, and a tight mortgage market. The Bank of England is warning of house price falls in 2011.
UK house prices bottomed out in early-2009, after falling for two years. But now the recovery of residential property prices seems to be running out of steam, as suggested by property price changes reported by major housing agencies in Q3 2010………………………………………Full Article: Source

UK: House prices drop in value by more than average salary

Posted on 29 October 2010 by Laxman  |  Email |Print

From Telegraph: House prices are dropping in value by more than a typical annual salary, figures by Nationwide showed today. Britain’s biggest building society said the average price of a home dropped 0.7 per cent this month, the equivalent of £2,376 in a month.
It brings the average price of a home to £164,381, down from £166,757 in September……………………………………….Full Article: Source

Slovakia’s housing market- still in the doldrums

Posted on 29 October 2010 by Laxman  |  Email |Print

From Globalpropertyguide.com: Slovakia’s housing market remains weak, despite the economy’s strong recovery in 2010. House prices plunged 3.65% (-4.72% in real terms) over the year to Q2 2010, and were down 16.5% from peak, according to the National Bank of Slovakia, with the nationwide average house price was down to SKK1, 293 per square meter. Nevertheless, the downward trend is moderating.
The Q2 2010 drop was the smallest since 2009……………………………………….Full Article: Source

Moody’s: Cyprus property market remains a risk area

Posted on 29 October 2010 by Laxman  |  Email |Print

From Cyprus-property-buyers.com: International ratings agency Moody’s said on Wednesday that the outlook for the banking system in Cyprus is “negative” due to slow growth and repercussions from the financial crisis in Greece.
“Moody’s believes that asset quality and earnings for the rated Cypriot banks will remain under pressure in the near to medium term, given the muted economic growth in Cyprus and the anticipated economic contraction in Greece stemming from the Greek government’s austerity measures,” according to the author of the report, Christos Theofilou……………………………………….Full Article: Source

Lebanese left out of Beirut building boom

Posted on 29 October 2010 by Laxman  |  Email |Print

From Maktoob.com: Beirut used to conjure up images of clear skies, sparkling sea and red-roofed Ottoman-era houses, but cranes and new buildings now puncture its Mediterranean skyline and the cacophony of bulldozers has shattered the idyll.
All over Beirut, developers are spending hundreds of millions of dollars building luxury flats for high-income Lebanese, and prices are soaring, especially in the central district widely dubbed Solidere after the company that rebuilt it from the ruins of the 1975-1990 civil war……………………………………….Full Article: Source

Dubai property prices yet to hit bottom: Prince Alwaleed

Posted on 29 October 2010 by Laxman  |  Email |Print

From AFP: Saudi billionaire Prince Alwaleed bin Talal has forecast that Dubai’s depressed property prices will take several more years to hit bottom and start a recovery because the market is still oversupplied.
“There are new buildings coming out. I think we have not seen the bottom in real estate (in Dubai), there are years to come,” Alwaleed said in excerpts of an interview with Arabian Business online magazine posted on Thursday……………………………………….Full Article: Source

Office sector in Asia Pacific continues to expand in Q3

Posted on 29 October 2010 by Laxman  |  Email |Print

From Channelnewsasia.com: The office sector in the Asia Pacific continued to expand in the third quarter, with occupier demand increasing as a result of sustained economic growth, according to a report by DTZ Research on Thursday.
The property researcher found that aggregate net absorption across the region has now reached pre-financial crisis levels, totalling 1.9 million square metres, compared with a low of 200,000 square metres in the second quarter of 2009……………………………………….Full Article: Source

Asia retail property deals outpace office for first time

Posted on 29 October 2010 by Laxman  |  Email |Print

From Asianinvestor.net: The total value of real estate deals involving retail property hit a record level in the third quarter in Asia, surpassing the value of office transactions in the region for the first time.
The shift is a sign that commercial property investors are targeting retail in greater numbers, and also that the retail property market is maturing from a fragmented state……………………………………….Full Article: Source

IPD shines light on Asian property performance

Posted on 29 October 2010 by Laxman  |  Email |Print

From IPE: Investment Property Databank (IPD) has provided the first-ever approximation of a pan-Asian real estate index, based on pooling data from markets in Japan, Hong Kong, China, Korea, Malaysia, Singapore and Thailand.
The latest research from IPD Asia, drawing on property valuations for more than 3,300 assets with a total value of $169.8bn (€122.7bn), shows that the unleveraged local currency total return on Asian commercial real estate in 2009 was -0.2%……………………………………….Full Article: Source

Knight Frank global report: Asia rising

Posted on 29 October 2010 by Laxman  |  Email |Print

From Property-report.com: Property prices have increased in 69 per cent of worldwide locations, says the latest Knight Frank Global Housing Price Index. This is a rise of 19 per cent compared to 2009.
Asia – especially Singapore, Hong Kong, and China – is leading the property price boom. China so much so that the government has recently had to introduce cooling measures like ordering banks to enforce a 30 per cent deposit on home loans and halting lending for buyers of third properties……………………………………….Full Article: Source

China regulator urges banks to curb property loan risks

Posted on 29 October 2010 by Laxman  |  Email |Print

From Dow Jones: Chinese banks should strictly control lending to the country’s major property developers, the banking regulator said Thursday, indicating that it will continue to tighten its grip on lending to sector amid concerns about deteriorating loan quality.
Liu Mingkang, chief of China’s Banking Regulatory Commission, has repeatedly warned of the risks in loans to the property sector. But the regulator’s latest statement goes a step further, the warning has now been extended to include big property developers usually seen as better placed to repay loans. The statement posted on the CBRC website didn’t elaborate……………………………………….Full Article: Source

Singapore: Real-estate sentiment down in Q3

Posted on 29 October 2010 by Laxman  |  Email |Print

From Todayonline.com: Property developers and other industry players are less upbeat on overall real-estate sentiment than before. They also expect more uncertain market conditions over the next six months.
The Current Real-Estate Sentiment Index fell to 4.8 in the third quarter, down from 5.8 in the second quarter, according to a survey by the Real Estate Developers’ Association of Singapore and the National University of Singapore’s Department of Real Estate……………………………………….Full Article: Source

VietNam: Property market quiet, developers rush to slash sale prices

Posted on 29 October 2010 by Laxman  |  Email |Print

From VietNamNet Bridge: Launching promotion campaigns, slashing sale prices, extending the payment deadline, fixing the sale prices in Vietnam dong instead of the dollar are the measures being taken by real estate developers, who are trying to warm up the frozen market.
The higher dollar has made the real estate market, which has been gloomy for a long time, even less attractive……………………………………….Full Article: Source

Indonesia’s housing market remains weak

Posted on 29 October 2010 by Laxman  |  Email |Print

From Globalpropertyguide.com: High mortgage rates and foreign ownership restriction have hampered the growth of Indonesia’s housing market. In Q2 2010, house prices in the 14 cities in Indonesia were up 2.89% over the year, in nominal terms, according to the Residential Property Survey of the Bank of Indonesia.
When adjusted for inflation, house prices were actually down 1.42% from a year earlier……………………………………….Full Article: Source

Australia’s commercial properties recover faster than expected

Posted on 29 October 2010 by Laxman  |  Email |Print

From Bloomberg: Australia’s commercial property market is recovering sooner than expected, driven by a strong economy and the biggest mining boom in more than a century, Jones Lang LaSalle Inc. said.
“The demand for office space has exceeded expectations for this stage of the recovery phase,” Australia Chief Executive Officer Stephen Conry said in an emailed release. “We will soon be seeing pressure on rents, enhanced values, and more developers becoming increasingly confident and active.”………………………………………Full Article: Source

Westpac sees no bubble in Oz housing

Posted on 29 October 2010 by Laxman  |  Email |Print

From Ninemsn.com.au: According to Westpac Bank, any bubble in the Australian housing market is more myth than reality as house prices and affordability issues are reflecting a structural imbalance between supply and demand rather than any pricing bubble.
The bank’s chief economist, Bill Evans, notes measures that take into account all dwelling types, after-tax income and financing costs show housing prices have broadly tracked income growth over the past seven years. As well, typical mortgage payments as a proportion of household income are below peak levels……………………………………….Full Article: Source

US apartment companies raise rents, forecasts

Posted on 28 October 2010 by Laxman  |  Email |Print

From Reuters: Two of the largest U.S. apartment REITs on Wednesday posted better-than-expected funds from operations and raised their outlook for the year, underscoring improvement in the U.S. apartment market that started in the beginning of the year.
Equity Residential (EQR.N), whose chairman is real estate mogul Sam Zell, and AvalonBay Communities Inc (AVB.N) posted higher year-over-year rental revenue and were confident enough to push rents at the expense of occupancy……………………………………….Full Article: Source

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Distressed property bargains create glut in chicago housing market

Posted on 28 October 2010 by Laxman  |  Email |Print

From Chicagojournal.com: The Great Recession has put for-sale signs on a large number of distressed properties in the Chicago area, and as a result this could also be the year of unusual real estate bargains, experts say.
The RE/MAX Northern Illinois real estate network reports that the average price paid for those homes that changed hands in September in the metro Chicago real estate market was $238,592, down 4.6 percent from the average price a year earlier……………………………………….Full Article: Source

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JLL: Strong activity in EMEA hotel investment market

Posted on 28 October 2010 by Laxman  |  Email |Print

From Europe-re.com: The EMEA hotel investment market has demonstrated strong growth in the first three quarters of 2010, reaching €3.97 billion. Investment volumes across EMEA now represent a 55% year-on-year increase against the €2.5 billion transacted between Q1 and Q3 in 2009.
As forecasted by Jones Lang LaSalle Hotels growth accelerated further during Q3 2010 with €1.8 billion transacted across EMEA, a significant 70% increase on Q3 2009 levels (€1.056 billion)……………………………………….Full Article: Source

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Shortage of prime European property stalling recovery

Posted on 28 October 2010 by Laxman  |  Email |Print

From Ipinglobal.com: A lack of prime properties in Europe is stalling the recovery of the global real estate market, it has been suggested. The latest research from real estate consultancy Jones Lang LaSalle has found that total investment in commercial property during the third quarter of 2010 stood at USD 69 billion.
The news means that investment volumes in the first nine months of this year have reached USD 202 billion, higher than the USD 139 billion made during the same period in 2009……………………………………….Full Article: Source

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European property market performance expected to benefit from inflation

Posted on 28 October 2010 by Laxman  |  Email |Print

From Property-magazine.eu: According to the latest European Market Perspective research report produced by Invista Real Estate Investment Management, property markets in Continental Europe will benefit from an increase in inflation rates, which could come in 2011 despite weak economic growth.
The report notes the strong link between the majority of commercial property leases in Continental Europe and inflation rates. According to IPD, property income has performed well compared to government bonds and equities since the creation of the Eurozone in 1999, and the margin between them widening further since the recession of 2008-09………………………………………Full Article: Source

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Irish commercial property investors reaping strong returns

Posted on 28 October 2010 by Laxman  |  Email |Print

From Business-sale.com: According to the new IPD/Society of Chartered Surveyors index, those who have invested in Irish commercial property have achieved far better returns that those investing in shares.
Returns from property investment were shown to be higher than returns from Irish company shares during the last 12 months and over the last five years……………………………………….Full Article: Source

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Poland leads recovery in CEE industrial market: JLL

Posted on 28 October 2010 by Laxman  |  Email |Print

From Propertyeu.info: Industrial investment and occupier activity saw an upswing in the first half of 2010 in the CEE region, although volumes remained below pre-credit crisis levels with recovery in the industrial investment market still fragile and uneven.
That is one of the key conclusions of Jones Lang LaSalle’s latest European Industrial Markets Autumn 2010 report……………………………………….Full Article: Source

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Property market recovery in Bulgaria fuels mortgage lending growth

Posted on 28 October 2010 by Laxman  |  Email |Print

From Sofiaecho.com: The slight revival on Bulgaria’s real estate market has provided for the recovery in mortgage lending, banks active mainly in the property loan segment told Dnevnik.
The trend has been prompted by the stabilising property prices, which appear to have hit rock bottom, thus encouraging clients to stop awaiting further drops and to resort to bank loans, according to market players……………………………………….Full Article: Source

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Turkish property market boosted by construction boom

Posted on 28 October 2010 by Laxman  |  Email |Print

From Intasure.com: Turkey’s economic growth, spurred on by the construction industry, is contributing to the appeal of its property market. A boom in Turkey’s construction industry has boosted the country’s property market, overseas property insurance customers may be interested to know.
According to figures from the Turkish Statistic Institute, the nation’s construction sector grew by a remarkable 21.9 per cent in the second quarter of 2010……………………………………….Full Article: Source

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Lebanon real estate boom is no bubble, Solidere’s Douaidy says

Posted on 28 October 2010 by Laxman  |  Email |Print

From Bloomberg: Lebanon’s booming real-estate market is based on solid foundations and isn’t a bubble, said Mounir Douaidy, general manager of Solidere SAL, the largest publicly traded company in Lebanon.
“Prices have gone up recently a little bit more than what people would have expected them to do,” Douaidy said in an interview in Beirut yesterday. “I don’t see this as a bubble. I view this as a normal progression of prices because there is demand for property in Lebanon and property is scarce.”………………………………………Full Article: Source

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South African property beating Europe

Posted on 28 October 2010 by Laxman  |  Email |Print

From Timeslive.co.za: The South African property market is “way ahead” of European markets, Auction Alliance says. This followed the attendance of CEO Rael Levitt at a recent commercial property conference held in central London.
“At the conference it was confirmed that advanced countries would still see pain in their property markets for some time [and] developing economies would strongly outperform sluggish northern hemisphere nations.”………………………………………Full Article: Source

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More sharp falls ahead for UAE house prices

Posted on 28 October 2010 by Laxman  |  Email |Print

From Kippreport.com: Dubai house prices will sink another 11 percent before troughing in 2012 despite already having crashed 58 percent from their 2008 peak, as oversupply delays any hopes of a recovery, a Reuters poll found.
Dubai’s property market, which boasts the world’s tallest building and man-made islands in the shape of palms, was hit hard by the financial downturn, although debt concerns have eased after state-owned conglomerate Dubai World’s $25 billion debt deal last month……………………………………….Full Article: Source

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Dubai’s Burj Khalifa is still world’s tallest building, remains 90 pct vacant

Posted on 28 October 2010 by Laxman  |  Email |Print

From Realestatechannel.com: Nine months after Burj Khalifa opened with a massive fireworks and light show, 90 percent of the apartments in the world world’s tallest building are empty, a Dubai agent says.
With only about 75 of the 900 apartments in the tower occupied, asking rents in the tower have fallen almost 50 percent, Better Homes sales adviser Laura Adams said……………………………………….Full Article: Source

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Asia leading global property recovery

Posted on 28 October 2010 by Laxman  |  Email |Print

From Themovechannel.com: The property recovery slowly creeping across the globe is being led by the Asian juggernaut - property prices in Asia have risen by 14 per cent over the past year, far outpacing other locations.
According to the latest Knight Frank Global House Price Index, there is much to be positive about within the global housing market, with prices increasing in 69 per cent of worldwide locations during the first six months of this year. This reflects a rise of 19 per cent compared to a year earlier……………………………………….Full Article: Source

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China says will keep curbing property market

Posted on 28 October 2010 by Laxman  |  Email |Print

From AFP: China on Wednesday pledged to continue its efforts to cool the red-hot real estate market for the rest of the year after the latest official data showed property prices remained buoyant.
The State Council called on local governments to step up supplies of subsidised public housing and curb speculation in the property market, according to a statement posted on the cabinet’s website……………………………………….Full Article: Source

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Knight Frank: China property prices to remain resilient

Posted on 28 October 2010 by Laxman  |  Email |Print

From Property-report.com: Knight Frank’s China Property Market Watch for October predicts that Mainland home prices will continue to grow despite recent tightening measures. The measures which were introduced by the central government on September 29 caused activity volume in the market to plunge.
Knight Frank’s researchers however opined that the measures would not have a longterm effect on home prices as many developers have almost reached their sales targets for the year already and would thus be unlikely to cut prices to boost sales revenue……………………………………….Full Article: Source

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Hong Kong luxury home prices top their 1997 peak

Posted on 28 October 2010 by Laxman  |  Email |Print

From AFP: Hong Kong’s luxury home prices have topped their pre-Asian crisis peak, data showed Wednesday, frustrating government efforts to cool one of the world’s most expensive real estate markets.
Average prices for homes of at least 100 square metres (1,100 square feet) are now 14 percent above what they fetched before the 1997 downturn, the Hong Kong Monetary Authority (HKMA) said……………………………………….Full Article: Source

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Korea: Has property market hit rock bottom?

Posted on 28 October 2010 by Laxman  |  Email |Print

From Koreatimes.co.kr: Buying a home at the lowest price possible is everyone’s dream and timing is crucial to do so. For months the housing market has remained sluggish causing would-be home buyers to wonder if the property market has hit rock bottom and if they should make the deal of their life now.
Signs show that housing prices are slowly rebounding, but experts interpret it differently, giving various forecasts on where the market is heading. Many agree that in the long run, housing prices will stabilize. For now, unfortunately, home buyers will have to rely on their own judgment……………………………………….Full Article: Source

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Commerical property sales rebound in Q3

Posted on 27 October 2010 by Laxman  |  Email |Print

From Reuters: Two of the world’s largest commercial real estate services companies reported sharply improved earnings on Tuesday, fueled chiefly by a pickup in building sales and leasing, particularly in the United States.
After more than a year of nearly no activity, U.S property sales have begun to pick up as buyers and sellers agreed on prices. That helped Jones Lang LaSalle Inc and CB Richard Ellis Group Inc record strong earnings growth in the third quarter……………………………………….Full Article: Source

CBRE, Jones Lang see revenue rise

Posted on 27 October 2010 by Laxman  |  Email |Print

From WSJ: While the commercial-real-estate market is experiencing a rocky recovery, profits for some commercial-brokerage firms have risen, as the transaction volume has come back from a near standstill in 2009.
Revenue for commercial-brokerage firm CB Richard Ellis Group Inc. hit $1.3 billion in the third quarter, a 24% increase from the same period in 2009, the company said Tuesday. Another brokerage, Jones Lang LaSalle Inc., reported third-quarter revenue of $708 million, an increase of 20% in local currency from the third quarter of 2009……………………………………….Full Article: Source

US: Commercial property sees prices slide

Posted on 27 October 2010 by Laxman  |  Email |Print

From WSJ: An index compiled by Moody’s Investors Service found that commercial property prices have started to slide again. The Moody’s/REAL Commercial Property Price Index was 105.37 in August, down 3.3% from July.
Moody’s said the latest reading is the lowest since early 2002. Not all sectors of real estate had declines. Moody’s said prices were down for retail and industrial properties but were up for office buildings and apartments……………………………………….Full Article: Source

Home prices in 20 U.S. cities rise less than forecast

Posted on 27 October 2010 by Laxman  |  Email |Print

From Bloomberg: Home prices in 20 U.S. cities rose at a slower pace than forecast in August from a year earlier, reflecting slumping sales as the effects of a tax credit waned.
The S&P/Case-Shiller index of property values increased 1.7 percent from August 2009, the smallest year-over-year gain since February, the group said today in New York. The median forecast of 27 economists surveyed by Bloomberg News projected a 2.1 percent increase……………………………………….Full Article: Source

US: The next real estate boom

Posted on 27 October 2010 by Laxman  |  Email |Print

From Newamerica.net: What if there were a new economic engine for the United States that would put our people back to work without putting the government deeper in debt? What if that economic engine also improved our international competitiveness, reduced greenhouse gases, and made the American people healthier?
At a minimum, it would sound a lot better than any of the current offers on the table: stimulus from the liberals, austerity from the conservatives, and the president’s less-than-convincing plan for a little stimulus, a little austerity, and a little bit of a clean-energy economy……………………………………….Full Article: Source

Construction in New York? Skip it.

Posted on 27 October 2010 by Laxman  |  Email |Print

From WSJ: Mumbai will add 30 million square feet of new office space in 2010 and 2011. Dubai will add 20 million square feet, and Shanghai 14 million during the same period.
But after a Times Square building is completed next month, the total space in office buildings in New York City isn’t expected to grow at all between then and the end of 2011……………………………………….Full Article: Source

Canada’s real estate overpriced: survey

Posted on 27 October 2010 by Laxman  |  Email |Print

From Ctv.ca: Canadian house prices are overvalued, but not as much as those in Australia, Hong Kong or France, according to a new worldwide survey. The data published in The Economist magazine’s annual survey shows Canadian homes cost on average 23.9 per cent more than they are worth.
That’s somewhere around the middle of the pack. The scale ranged from Australia at the high end, where homes are 63.2 per cent overvalued, to Japan at the low end, where houses are 34.6 per cent undervalued……………………………………….Full Article: Source

EMEA property investment seen 30pct higher

Posted on 27 October 2010 by Laxman  |  Email |Print

From Tradearabia.com: Full year real estate investment volumes in EMEA are expected to be 30 per cent higher than in 2009, despite the third quarter witnessing a 12 per cent decline in volumes on the second quarter to 21 billion euros ($27 billion), said a report.
Preliminary global direct commercial real estate investment volumes totalled $69 billion in the third quarter of 2010, according to a new study by Jones Lang LaSalle, an international real estate services firm……………………………………….Full Article: Source

Europe’s major retailers back on the growth track, says Klepierre

Posted on 27 October 2010 by Laxman  |  Email |Print

From Propertyeu.info: French SIIC Klépierre saw retail sales increase by 1.2% during the first three quarters of the year as the retail market continues to improve across Europe.
Retailers’ appetite to is also starting to increase again, with Klepierre recently signing a number of new leases, including three rental agreements with H&M in its Hungarian shopping centres and a 12,000-m2 lease to Saturn in its Creteil Soleil mall in the Paris suburbs……………………………………….Full Article: Source

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