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Real Estate Briefing - Archive | November, 2010

US prices become even cheaper

Posted on 22 November 2010 by Laxman  |  Email |Print

From Themovechannel.com: It seemed that USA property prices could not get any cheaper, but they have. The latest USA property price report from the National Association of Realtors shows that property prices fell in almost half of all US metropolitan areas in the third quarter of this year.
This suggests that the market is running out of steam without tax credits, creating even greater USA property bargains in the process. The average price for single-family USA home is now $177,900 (£110,800)………………………………………..Full Article: Source

Top 5 markets account for bulk of European retail deals: CBRE

Posted on 22 November 2010 by Laxman  |  Email |Print

From Propertyeu.info: European retail investment volume reached EUR 7.3 bn in the third quarter of 2010 and was heavily concentrated in only a small number of markets, according to the latest research from CB Richard Ellis (CBRE).
The top five markets - Germany, Poland, France, Spain and the UK - accounted for 90% of the quarter’s total activity, and perhaps more remarkably are also an exact match for the top five countries being targeted by retailers in the Europe, Middle East and Africa (EMEA) region for expansion in 2011……………………………………….Full Article: Source

Europe property upgraded by Morgan Stanley on investment growth

Posted on 22 November 2010 by Laxman  |  Email |Print

From Bloomberg: Morgan Stanley raised its rating on European real estate, saying the stocks will probably outperform the broader market “well into 2011” on rising investment.
Analysts including London-based Bart Gysens upgraded the industry as a whole to “attractive” from “cautious,” according to a note to investors. British Land Co., the U.K.’s second-largest real estate investment trust, Segro Plc and Unite Group Plc were Morgan Stanley’s top picks……………………………………….Full Article: Source

Fund of funds fee structures lower than for direct funds: INREV

Posted on 22 November 2010 by Laxman  |  Email |Print

From Propertyeu.info: Overall fund of funds fee structures are simpler and lower than for direct funds, according to the inaugural Fund of Funds Fee Study published last week by INREV, the association of non-listed real estate investors.
Nearly half of the fund of funds polled in the survey base their annual management fees on net asset value, with an average of 0.4%. Performance fees are also common across value added and opportunity fund of funds, but less so in the core market, the study found……………………………………….Full Article: Source

UK: Housing market ‘will double dip’

Posted on 22 November 2010 by Laxman  |  Email |Print

From Yourmortgage.co.uk: The housing market faces a double dip in house prices, a Reuters poll of industry analysts has found. The poll, taken over the past week, found that more than two-thirds of the 30 housing market analysts it surveyed predict UK house prices will “double dip”, with most expecting a 5% fall from current levels.
Economist, John Hawkesworth from PriceWaterhouseCoopers (PwC), said: “There are likely to be further falls in house prices over the next year given the dampening effect of the fiscal squeeze, restricted mortgage availability and fragile household confidence levels.”………………………………………Full Article: Source

Strong Cyprus housing market attracts Britons

Posted on 22 November 2010 by Laxman  |  Email |Print

From Independent: UK buyers still flock to the Med despite horror stories of land claims affecting purchases. Julian Knight reports. It’s easy to see why Cyprus has been one of the most popular locations for Britons to have a holiday home over recent decades.
English is spoken widely across the island; the sun shines bright and warm right into November and beyond and the two major airports have regular flights to the UK, only four and a half hours away……………………………………….Full Article: Source

A new record for French retail investment in 2010

Posted on 22 November 2010 by Laxman  |  Email |Print

From Europe-re.com: According to Savills, retail assets have accounted for 31.5% of total commercial investment in France since January 2010. This represents a record high volume of €2.5 billion, up 247% compared to the same time period in 2009.
The international real estate advisor records that sales of shopping centers and malls accounted for 64% of the market, totaling €1.6 billion, including the acquisitions of Cap 3000 by Altaréa/ABP/Predica for €450 million, 75% of Espace Saint Quentin bought by Allianz and 51% acquired in O’Parinor by Korean pension fund, NPS……………………………………….Full Article: Source

Netherlands property investment market sees a returned focus on retail

Posted on 22 November 2010 by Laxman  |  Email |Print

From Europe-re.com: The Netherlands property investment market has seen a returned focus on retail with €1.5 billion invested to end Q310 this year, compared to only €1bn throughout 2009. According to Savills, this focus on retail investment has returned earlier than forecast but is anticipated to remain over the next few years.
Savills reports that four portfolio transactions, each over €100 million, have significantly contributed to overall sales volumes……………………………………….Full Article: Source

ME: Construction industry set to rebound

Posted on 22 November 2010 by Laxman  |  Email |Print

From Gulfnews.com: Demand for construction in the Middle East is set to soar as the industry recovers from the economic downturn and the region forges ahead with major development, industry officials said.
Proleads Global, a UAE-based market research company has reported that nearly 1,300 projects valued at more than $418 billion (Dh1.5 trillion) are under construction in the UAE, with an additional 303 projects worth $143 billion in the design, planning or bidding stage……………………………………….Full Article: Source

UAE: Revisit visas, but not for real estate’s sake

Posted on 22 November 2010 by Laxman  |  Email |Print

From Kippreport.com: According to a decree issued by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, “non-citizens , including non-GCC citizens, have the right to use property (rent or live in it) or alternatively possess right to rent for a period not exceeding 99 years.”
The decree received much attention this week after the Dubai Court rejected a case on the sharing of a lease on the basis that the disputing parties were not UAE citizens or GCC nationals……………………………………….Full Article: Source

‘Speculative’ real estate loans to double UAE banks’ bad debt: IIF

Posted on 22 November 2010 by Laxman  |  Email |Print

From Emirates247.com: Overexposure to the “highly speculative” real estate sector and highly leveraged companies has eroded asset quality of UAE banks, and the percentage of bad loans on the country’s banks’ books could go up to as much as 10 per cent, according to the Washington-based Institute of International Finance (IIF).
The ratio of non-performing loans (NPLs) to total loans has almost doubled from 2008 to 2009 in Kuwait and the UAE, and is expected to increase further this year, the IIF maintains in its regional overview of the GCC economies……………………………………….Full Article: Source

Dubai office rents to fall by up to 20pct in 2011

Posted on 22 November 2010 by Laxman  |  Email |Print

From Arabianbusiness.com: Continued oversupply of office space in Dubai will see rents fall by as much as 20 percent in 2011, according to the latest research from Jones Lang LaSalle (JLL).
In its Real Estate Outlook for 2011, the consultancy predicted that both capital and rental values for Dubai commercial property would decline by between 10 and 20 percent, putting the emirate at the bottom of a survey of the world’s most important business cities……………………………………….Full Article: Source

India: RBI allows co-op banks to lend more for realty

Posted on 22 November 2010 by Laxman  |  Email |Print

From Indiatimes.com: Urban cooperative banks (UCBs) have been allowed to lend more freely now, especially with regard to home loans and advances to the realty sector. The new rules were part of a slew of notifications by Reserve Bank of India easing the norms last week.
This is a sequel to the announcements made in the second quarter review of the monetary policy……………………………………….Full Article: Source

Soaring land prices push Indian property costs up

Posted on 22 November 2010 by Laxman  |  Email |Print

From Themovechannel.com: Soaring land prices and higher construction costs could result in property prices rising in India if developers pass on the increases to buyers and concentrate on more profitable luxury projects, it is claimed.
But with sales expected to fall due to price hikes, there is concern that the country’s real estate market will suffer if they do……………………………………….Full Article: Source

China: Property market set to make soft landing

Posted on 22 November 2010 by Laxman  |  Email |Print

From Peopledaily.com.cn: China’s property prices are likely to decline by almost 20 percent next year and the market may go through a major period of readjustment in March or April 2011, according to a report released on Saturday by Beijing-based Renmin University of China.
Prices will be dragged down by the government’s measures to cool the property market, which have placed constraints on developers, as well as by an adjustment of the country’s monetary policy, though the sector is not expected to suffer a “hard landing”, according to the report……………………………………….Full Article: Source

Hong Kong struggles to cool market

Posted on 22 November 2010 by Laxman  |  Email |Print

From Themovechannel.com: Whilst some countries are witnessing falling property prices and an ever-increasing gap between asking and selling prices, Hong Kong is at the other end of the spectrum and introducing desperate measures in a bid to cool its red hot housing market, amid fears of a real estate bubble.
The International Monetary Fund has turned up the heat on Hong Kong’s property market, urging the government to take control of the spiralling prices as they spread from high-end pads to the general market………………………………………..Full Article: Source

HK weekend sales of homes slumps on property curbs

Posted on 22 November 2010 by Laxman  |  Email |Print

From Taipeitimes.com: Weekend sales of used homes in some of Hong Kong’s biggest private housing estates fell 83 percent from the previous week as the government imposed additional taxes and raised down payments to curb surging prices.
The number of transactions fell to 10 on Saturday and yesterday at projects including Tai Koo Shing in the Island East district and Mei Foo Sun Chuen in Kowloon, Centaline Property Agency Ltd , the city’s biggest privately held real estate broker, said in a statement yesterday. There were 59 deals the previous weekend, the broker said last week……………………………………….Full Article: Source

Apartment prices in Seoul are finally on the rebound

Posted on 22 November 2010 by Laxman  |  Email |Print

From Joongang Daily: According to Kookmin Bank, apartment prices in Seoul posted a rise of 0.02 percent last week from a week earlier, showing an upward trend for the first time in 35 weeks. Prices in the greater metropolitan area stayed the same last week, stopping a 36-week decline.
The rise in prices was primarily driven by [[price?]] hikes in apartments located in areas that suffered from big drops, including the Gangnam and Gangdong Districts as well as Mok-dong in Yangcheon District……………………………………….Full Article: Source

Australian treasury warns of housing bubble

Posted on 22 November 2010 by Laxman  |  Email |Print

From Theaustralian.com.au: A senior Treasury official has sounded the alarm over Australia’s property market. He has warned that the prospect of a sudden and dramatic drop in prices is “the elephant in the room” and should not be ignored by the federal government.
While the government and Reserve Bank insist Australia does not have a housing bubble - as some economists and the International Monetary Fund suggest - it remains such a worrying concept that Treasury has privately sought reassurance from its analysts that prices are not artificially high and that Australia does not face the kind of house price collapse that has hit Britain and the US………………………………………..Full Article: Source

Best locations for 2011 property investment

Posted on 22 November 2010 by Laxman  |  Email |Print

From Themovechannel.com: As 2010 draws to a close, attention is turning to the best locations to invest in property in 2011. The last year has been one of mixed fortunes with traditional second home destinations such as Spain, Italy and Greece still feeling the harsh effects of the economic downturn whilst other mostly non-euro zone countries such as Brazil, Turkey and Egypt flourished.
Overall levels of property investment rose in 2010 compared to 2009 with savvy investors capitalising on the bargains available as the property cycle reached bottom……………………………………….Full Article: Source

Commercial property investment to rise in 2011-study

Posted on 19 November 2010 by Laxman  |  Email |Print

From Reuters: Direct investment into global commercial property will spike by between 25 and 35 percent to more than $350 billion in 2011, its highest level since 2008, driven by strong growth in Asia-Pacific, research showed on Thursday.
Property consultancy Jones Lang Lasalle said in its Global Market Perspective report that 2011 ‘looks to be a promising year for investors seeking to take advantage of distressed opportunities in commercial real estate.’………………………………………Full Article: Source

Global hotel investment up 60pct y-o-y in Q3: JLL

Posted on 19 November 2010 by Laxman  |  Email |Print

From Propertyeu.info: The global hotel investment market experienced a strong first three quarters with transaction volumes reaching $12 bn (EUR 8.8 bn), a 60% increase over the same period in 2009, according to Jones Lang La Salle Hotels.
Europe, Middle East and North Africa (EMEA) was the most active region for the first three quarters of the year, recording $5.2 bn of hotel sales (+46% year over year)……………………………………….Full Article: Source

US: Most (and least) affordable cities to buy a home

Posted on 19 November 2010 by Laxman  |  Email |Print

From CNN: The U.S. housing markets stayed very affordable this past summer: 72.1% of all homes sold during the three months ended Sept. 30 were priced so reasonably that people earning the median household income could afford to buy them, according to an industry report.
One big factor enhancing affordability is the continued rock-bottom interest rates, which were at 4.32% by the end of September……………………………………….Full Article: Source

Multi-family sector leading US recovery, says IPD

Posted on 19 November 2010 by Laxman  |  Email |Print

From IPE: The residential sector continues to lead the real estate recovery in the US, with capital values up 12.3% since the start of the year, according to Investment Property Databank (IPD).
Commercial property values have risen just over half this amount in 2010, at 6.5%, according to the latest IPD US Quarterly Property index, although the recovery started later than it did in residential……………………………………….Full Article: Source

U.S. foreclosure aid lags amid record defaults on mortgages

Posted on 19 November 2010 by Laxman  |  Email |Print

From Bloomberg: U.S. homeowners are dropping out of the Obama administration’s foreclosure prevention program at a faster rate than they are joining it, according to figures released today by the U.S. Treasury Department.
Borrowers aided by the Home Affordable Modification Program grew to nearly 520,000 in October, up 23,750 from a month earlier, the Treasury said in its monthly report. The increase was less than five percent………………………………………Full Article: Source

US property prices likely to keep falling until end of 2011

Posted on 19 November 2010 by Laxman  |  Email |Print

From Propertywire.com: Property investors and those looking to buy a holiday home in the US can look forward to bargain prices for some time to come, according to analysts. Standard & Poor’s analysts believe residential real estate prices will drop between 7% and 10% through 2011, erasing any improvements prices have recently made.
And Fiserv, a financial services technology provider predicts a 7% fall before prices stabilise towards the end of next year……………………………………….Full Article: Source

U.S. housing market continues to rot, no rebound in 2011

Posted on 19 November 2010 by Laxman  |  Email |Print

From Marketoracle.co.uk: Larry D. Spears writes: The year of 2010 saw very little improvement in the housing sector, and that’s not likely to change in 2011. The industry’s weaknesses - high unemployment, tight credit, ineffectual government programs, soaring inventories, plunging prices, and so on - are simply too gaping to be resolved by next year.
Even the normally ultra-optimistic National Association of Realtors (NAR) came out of its annual conference in New Orleans in early November with a frown on its face, predicting that, “nationwide, homeowners can expect little, if any, increase in home values in 2011.”………………………………………Full Article: Source

Banks may reassess US commercial property in 2011

Posted on 19 November 2010 by Laxman  |  Email |Print

From Reuters: When it comes to U.S. commercial real estate loans, banks may get real next year. The practice of extending maturing loans and pretending they are current when they cannot be refinanced may end next year, according to U.S. commercial real estate experts at the New York University annual Conference on Capital Markets in Real Estate in New York.
Since credit seized up about two years ago, banks and other lenders have been playing “extend and pretend” extending maturing loans instead of taking losses by foreclosing when a borrower cannot get a replacement loan……………………………………….Full Article: Source

US commercial property values up

Posted on 19 November 2010 by Laxman  |  Email |Print

From Assetz.co.uk: Despite an unstable economy, US commercial properties are continuing to grow in value. Figures from performance analysis Investment Property Databank’s US Quarterly Property Index show a 3.2% growth in capital during the second quarter, compared to a second quarter increase of 2.1%.
It is believed the rebound has been caused by yield compression, after returns shrank by a little over a half of one percent to 6.5%……………………………………….Full Article: Source

Canada a hot property for U.S. retail immigrants

Posted on 19 November 2010 by Laxman  |  Email |Print

From Reuters: A strong domestic economy and relatively modest retail rental rates have hiked demand for retail property in Canada, with U.S. companies lining up to try out a market that’s stronger than the faltering one at home.
New entrants include Victoria’s Secret, a unit of Limited Brands, which brought its sexy lingerie and supermodels to the Toronto and Edmonton areas this year, opening stores to excited crowds……………………………………….Full Article: Source

Investors have ‘buzz’ for Brazilian property market

Posted on 19 November 2010 by Laxman  |  Email |Print

From Commercialfinancegroup.co.uk: Brazil is currently a great investment location. Brazil is a step ahead of the pack in terms of commercial property investment potential, according to one expert.
Robin Wilson, head of overseas at Rightmove.co.uk, highlighted the country’s “burgeoning economy” as one of the reasons why it may be a profitable place to buy assets……………………………………….Full Article: Source

More prime retail assets to come on market in CEE: JLL

Posted on 19 November 2010 by Laxman  |  Email |Print

From Propertyeu.info: Poland stood out from its regional counterparts so far in 2010 and witnessed stronger investor interest for well performing shopping centres. However, in the short to mid term, capital will return to the rest of CEE and more prime product will become available for sale across the whole region.
This is one of the findings of Jones Lang LaSalle’s new CEE retail research report -Looking beyond the short term……………………………………….Full Article: Source

UK: Home prices expected to be flat next year - Reuters poll

Posted on 19 November 2010 by Laxman  |  Email |Print

From Reuters: The housing market will bear witness to more falls in prices as rising unemployment, severe government budget cuts and tough new mortgage rules chip away at buyer demand, the latest Reuters poll of analysts found.
The poll, taken over the past week, found over two-thirds of them predicting UK house prices will “double dip”, with the median expectation for a five percent fall from current levels……………………………………….Full Article: Source

Germany is top target for retailer expansion: CBRE

Posted on 19 November 2010 by Laxman  |  Email |Print

From Propertyeu.info: Germany is the number one target destination for retailers looking to expand their international presence in 2011, CB Richard Ellis has said in a new report published at Mapic in Cannes.
Two of the reasons for Germany’s popularity are the country’s strong economic growth and a relative lack of international retailers……………………………………….Full Article: Source

Netherlands property investment market sees a returned focus on retail

Posted on 19 November 2010 by Laxman  |  Email |Print

From Europe-re.com: The Netherlands property investment market has seen a returned focus on retail with €1.5 billion invested to end Q310 this year, compared to only €1bn throughout 2009. According to Savills, this focus on retail investment has returned earlier than forecast but is anticipated to remain over the next few years.
Savills reports that four portfolio transactions, each over €100 million, have significantly contributed to overall sales volumes……………………………………….Full Article: Source

Spanish retail rents stable due to aggressive discounts: Savills

Posted on 19 November 2010 by Laxman  |  Email |Print

From Propertyeu.info: The aggressive pricing strategies of Spanish retailers has helped to stabilise rents, according to Savills. The international real estate advisor reports that primary rents for shopping centres are in the region of EUR 90 m2/month and retail parks at EUR 16 m2/month, which is consistent with 2009 levels.
The stabilisation in rents is linked to retailers introducing 30-70% discounts in product pricing or assuming the cost of the July 2010 VAT increase, in a bid to encourage consumer spending……………………………………….Full Article: Source

Italian investors opt for low-risk retail assets: Savills

Posted on 19 November 2010 by Laxman  |  Email |Print

From Propertyeu.info: Italy is seeing renewed interest from retail investors as yields stabilise at 6.25-6.5% for prime shopping centres and 7-7.25% for retail parks, according to research from property adviser Savills.
The research shows that the supply of quality product in the investment market has improved, and this has caused prime yields to stabilise……………………………………….Full Article: Source

Prime Moscow office values to gain 20pct in 2011, Jones Lang says

Posted on 19 November 2010 by Laxman  |  Email |Print

From Bloomberg: Prices for top-tier offices will rise more in Moscow than anywhere else in the world next year as investors compete for prime assets, according to Jones Lang LaSalle Inc., the world’s second-largest commercial property broker.
Office values in Moscow will surge more than 20 percent in 2011, the Chicago-based company said today in its Global Market Perspective report. In 11 other markets, including New York and London, values of the best offices will gain at least 10 percent, the company forecast……………………………………….Full Article: Source

Realty upturn in Qatar unlikely anytime soon, says report

Posted on 19 November 2010 by Laxman  |  Email |Print

From Ameinfo.com: Qatar Central Bank has said that the country’s real estate sector is unlikely to improve over the short run due to a large number of newly-constructed buildings lying unoccupied, the Peninsula has reported.
Rents have been going down keeping inflation under check since rentals have been the largest contributor to rising prices in the recent past. This would make it difficult for property developers who took bank loans for their projects to service their debt, QCB said……………………………………….Full Article: Source

Good news for landlords in Asia: Office rents are on the rise

Posted on 19 November 2010 by Laxman  |  Email |Print

From Forbes: Improving business conditions in Asia are helping to nudge the region’s office rents higher, according to a survey released today by Chicago-based real estate consultancy Jones Lang LaSalle.
Grade A office rents in July-September gained 1.8% compared with a year earlier, the survey found. Greater China helped to lead the way, with rents rising by 10.9% in Beijing’s central business district, 8.6% in Hong Kong and 5.1% in Shanghai……………………………………….Full Article: Source

UK investors to target Asia Pacific, says Aviva Investors

Posted on 19 November 2010 by Laxman  |  Email |Print

From IPE: Most UK investors are looking to increase their exposure to Asia Pacific real estate markets in the next three years, according to a survey conducted by Aviva Investors.
The investment manager surveyed 110 investors – institutional investors, pension consultants, wealth managers and independent financial advisers – at its annual real estate conference in London……………………………………….Full Article: Source

China property limits haven’t affected funds’ plans

Posted on 19 November 2010 by Laxman  |  Email |Print

From Dow Jones: China’s recently announced limits on property purchases by foreigners haven’t prompted foreign funds to drop their plans to invest in the country’s property market, executives from real estate and infrastructure consultancy EC Harris said Thursday.
China’s government said Monday foreign companies can purchase only commercial property that they plan to use themselves, and the property must be located in the city in which the firm is registered……………………………………….Full Article: Source

IMF to Hong Kong: Watch housing prices

Posted on 19 November 2010 by Laxman  |  Email |Print

From WSJ: If Hong Kong isn’t careful, its economy could be set for another bout of “protracted and painful” deflation and a crash in housing prices like it saw in the late 1990s and early 2000s.
That’s the negative scenario painted by the International Monetary Fund in its annual assessment of Hong Kong’s economy, known by IMF geeks as an “Article IV consultation.”………………………………………Full Article: Source

Taipei: Domestic housing market surges in spite of controls

Posted on 19 November 2010 by Laxman  |  Email |Print

From Taipeitimes.com: Growth in the domestic housing market accelerated faster last month than in September as excess liquidity and low interest rates more than offset concerns over the central bank’s selective credit control, a survey showed, citing transactions in Taipei, Taichung and Kaohsiung.
Residential real estate transfers reached 4,864 units in Taipei City last month, an increase of 8.1 percent from 4,501 units a month earlier, although that marked a 12.3 percent drop from the same period last year, according to Sinyi Reality Co, the nation’s only listed real estate brokerage……………………………………….Full Article: Source

NZ: Bank funding getting tough for new property developers

Posted on 19 November 2010 by Laxman  |  Email |Print

From Nzherald.co.nz: The commercial property sector is facing a protracted return to growth, but inexperienced developers will find it difficult to gain traction as banks continue to scrutinise risk-return trade-off.
Access to funding remained a lingering consideration, and while banks were interested in funding quality projects, a lack of depth in the second tier market had encouraged stricter assessment of transactions, BNZ’s head of treasury solutions Graeme Free said……………………………………….Full Article: Source

Real estate sluggish compared with other asset classes – IPE

Posted on 19 November 2010 by Laxman  |  Email |Print

From IPE: The assets of the top 100 real estate investment managers fell by 4.1% – or some €44bn – to just over €1trn as at 31 December 2009 compared with a year earlier, according to the latest IP Real Estate investment managers survey, which will appear in the next issue of IP Real Estate Magazine.
The survey, in which managers are ranked by worldwide real estate assets under management, also reveals that the assets of the top 50 fell by €48bn, or 5.1% while those in the lower half of the table gained €4bn over that period……………………………………….Full Article: Source

Prime retail rents stabilise in Q3, CBRE finds

Posted on 18 November 2010 by Laxman  |  Email |Print

From Propertyeu.info: Prime retail rents in the world’s leading retail destinations have stabilised, with some markets now witnessing rental growth as the economic recovery gathers momentum and consumer confidence starts to improve, according to CB Richard Ellis’ (CBRE) latest Global Retail MarketView.
Demand for prime retail space in most markets remains strong, with some cities seeing substantial annual growth at the end of the third quarter of 2010……………………………………….Full Article: Source

Consumer confidence a boost to property markets

Posted on 18 November 2010 by Laxman  |  Email |Print

From Property-report.com: The Nielsen Global Consumer Confidence Survey index has revealed Asian consumers as the most confident region in the world, bucking the global trend with a score of 98.
Followed by the Middle East and Africa at 97 points, the Asia region surpassed the global average of 90 and nine of the top 10 most confident nations were in Asia-Pacific: India, Thailand, Australia, Indonesia, the Philippines, Singapore, China, Malaysia and Hong Kong……………………………………….Full Article: Source

Best locations for property investment in 2011

Posted on 18 November 2010 by Laxman  |  Email |Print

From Investortoday.co.uk: As 2010 draws to a close, attention is turning to the best locations to invest in property in 2011. The last year has been one of mixed fortunes with traditional second home destinations such as Spain, Italy and Greece still feeling the harsh effects of the economic downturn whilst other mostly non-euro zone countries such as Brazil, Turkey and Egypt flourished.
Overall levels of property investment rose in 2010 compared to 2009 with savvy investors capitalising on the bargains available as the property cycle reached bottom. Below market value residential developments such as those in Florida sold quickly as did properties with rental guarantees and finance packages as buyers sought security and minimal monetary exposure……………………………………….Full Article: Source

US housing starts plunge to near-record low

Posted on 18 November 2010 by Laxman  |  Email |Print

From AP: US housing starts plunged to a near-record low in October while building permits were flat amid a depressed real-estate market, official data showed Wednesday. Construction on new homes dropped nearly 12 percent from September, to an annual rate of 519,000 units, the Commerce Department reported.
The pace of construction was the weakest since April 2009, when a record low of 477,000 was reported in the data series that began in 1959……………………………………….Full Article: Source

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