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Real Estate Briefing - Archive | May, 2011

US: Housing index is expected to show a new low in prices

Posted on 31 May 2011 by Laxman  |  Email |Print

Pete FlintThe desire to own your own home, long a bedrock of the American Dream, is fast becoming a casualty of the worst housing downturn since the Great Depression.
Even as the economy began to fitfully recover in the last year, the percentage of homeowners dropped sharply to 66.4 percent from a peak of 69.2 percent in 2004. The ownership rate is now back to the level of 1998, and some housing experts say it could decline to the level of the 1980s or even earlier……………………………………….Full Article: Source

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US: Can you invest in real estate using home price indexes?

Posted on 31 May 2011 by Laxman  |  Email |Print

Investors who are wondering how housing prices are doing often pay close attention to the Case-Shiller Home Price indexes.
These indexes tell investors and others interested in home prices what’s going on in 20 major cities in the U.S. There are also composite indexes that examine the broad nationwide trends in home prices. Chances are when you hear that home prices have risen or fallen, you’re probably seeing data based on these indexes……………………………………….Full Article: Source

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Are commercial property values rising or falling?

Posted on 31 May 2011 by Laxman  |  Email |Print

This might seem like a simple question. But it is not. The Moodys/REAL Commercial Property Price Index (CPPI), produced at MIT, says they are still falling. Green Street’s Commerical Property Price Index says they are rising.
Which one is correct matters. If Green Street is right, and prices are only 12.6 percent off peak, then commercial properties by-and-large have equity (loan-to-value ratios rarely exceeded 80 percent on commericial properties). If MIT is right, we are still in deep trouble……………………………………….Full Article: Source

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Increasing demand for commercial property loans in US good for industry

Posted on 31 May 2011 by Laxman  |  Email |Print

A recent increase in sales of commercial property loan securities in the US has led to some experts feeling cautiously optimistic. It is thought that the increase could have far reaching benefits, including strengthening bank balance-sheets, and adding to their ability to finance new property projects, including loans to revitalise derelict properties.
There are also indications that the cost of lending is stabilising as lenders grow in confidence, which is a must for recovery……………………………………….Full Article: Source

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Canada: Housing market rebounding

Posted on 31 May 2011 by Laxman  |  Email |Print

According to the Canada Mortgage and Housing Corporation, Calgary’s real estate market is bouncing back after prices plummeted during the recession and many were forced to sell to recoup their losses.
MLS sales are expected to increase by five percent in 2011, after a 16 percent drop last year. The CMHC says as the economy improves the gap between what buyers are willing to pay and what sellers are demanding is narrowing……………………………………….Full Article: Source

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Europe: Property debt’s unlikely suitors

Posted on 31 May 2011 by Laxman  |  Email |Print

The European commercial real-estate market has a serious funding problem. Could the insurance industry be the one to solve it?
Insurers including Germany’s Allianz and U.K. insurer Legal & General are kick-starting lending programs, entering a market the industry effectively quit in the 1980s. With €24 billion ($34 billion) already committed to real-estate lending and potentially more to come, insurers could help ease the strain on banks……………………………………….Full Article: Source

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Equity is driving force in European commercial property market

Posted on 31 May 2011 by Laxman  |  Email |Print

European commercial property investment activity hit €28.5 billion in the first quarter of 2011, 45% up on the opening period of last year, the latest figures from Cushman & Wakefield show.
Activity was down 30.5% on a quarter over quarter basis but this was no great surprise given that the closing three months of 2010 was the strongest quarter since the first quarter of 2008 as investors felt under real pressure to close deals before the year end, analysts said……………………………………….Full Article: Source

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Investor demand for CEE retail strongest since 2008: C&W

Posted on 31 May 2011 by Laxman  |  Email |Print

Investor demand for prime retail assets in Central Europe is at its strongest since the market collapsed in 2008, according to Cushman & Wakefield.
The property adviser says in a new report that investors are seeking increased exposure to select Central European economies - notably Poland and the Czech Republic - that look set to out perform many Western European markets in terms of GDP growth over the next 3 years……………………………………….Full Article: Source

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UK: 2015 housing recovery predicted

Posted on 31 May 2011 by Laxman  |  Email |Print

House prices are set to be 16% higher by the end of 2015 following a four-year recovery in the market that will start late this year, an economics group has predicted.
Property values will continue to fall for much of 2011, ending the year around 1.4% lower than they started it, according to the Centre for Economics and Business Research (CEBR). But the market will begin to stabilise towards the end of the year, when the UK’s property shortage will once again underpin prices……………………………………….Full Article: Source

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House prices ‘to rise by 4pct a year’ (but recovery doesn’t start until Christmas)

Posted on 31 May 2011 by Laxman  |  Email |Print

A four-year recovery in house prices – driving them up by 4 per cent a year – is predicted to start by the end of the year. The UK property market has hit rock bottom and will begin to turn around ahead of Christmas, it is claimed.
But the recovery will be slow rather than a return to boom and bust, according to the Centre for Economics and Business Research. A separate study published by the Institute for Public Policy Research calls for measures to prevent house price bubbles……………………………………….Full Article: Source

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Housing market concerns as UK set to become a nation of renters

Posted on 31 May 2011 by Laxman  |  Email |Print

Half of people think Britain will become a nation of renters within a generation as young people give up on the dream of home ownership, a study suggested.
About 77 per cent of people who have not yet got on to the property ladder said they still aspired to buying their own home, but 64 per cent said they thought they had no prospect of ever doing so, according to high street bank Halifax……………………………………….Full Article: Source

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UK: Housing market fears as ‘generation rent’ keeps away from property ladde

Posted on 31 May 2011 by Laxman  |  Email |Print

Two-thirds of potential first-time buyers have no realistic prospect of owning their own home in the next five years and lack the long-term saving mentality they need to get onto the housing ladder, according to a report on home ownership by one of the UK’s biggest mortgage lenders.
Owning a home has been a priority for most Britons since the 1950s when living standards began to rise, but the Halifax says that the high cost of property, strict lending rules and unwillingness of non-homeowners to save a deposit have fundamentally changed the attitudes of younger people towards home ownership……………………………………….Full Article: Source

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London luxury-home prices rise at fastest pace in year on overseas demand

Posted on 31 May 2011 by Laxman  |  Email |Print

Luxury-home prices in central London rose at the fastest pace in a year in May as the pound’s weakness encouraged overseas buyers to compete for a declining number of properties for sale, Knight Frank LLP said.
Values of houses and apartments costing an average of 3.7 million pounds ($6 million) increased 1.4 percent from the previous month, the London-based property broker said in a statement today. That’s the seventh straight increase and compares with a 1 percent gain in April……………………………………….Full Article: Source

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Why the Germans and French prefer to rent

Posted on 31 May 2011 by Laxman  |  Email |Print

Englishmen may see themselves as king of their own castles, but the fact that Europe largely did away with its monarchies many years ago does not necessarily explain why those on the Continent are happier to rent, even if the situation is starting to change.
Germany has the greatest proportion of home-renters in Europe, and Germans still prefer to rent accommodation rather than own it. Only 39 per cent of the population own the homes that they live in compared with about 60 per cent in Britain……………………………………….Full Article: Source

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Swiss real estate index shows boom, not bubble

Posted on 31 May 2011 by Laxman  |  Email |Print

Switzerland’s residential real estate market is in a boom phase and not a bubble, the UBS Swiss Real Estate Bubble Index showed on Monday.
In the first quarter of 2011, the index, launched by UBS Wealth Management Research Switzerland, was at 0.63. The market is considered risky when the index goes above a value of 1. The index reached its peak in the early 1990s at a level of 2.5 at the height of the last Swiss real estate bubble, UBS said……………………………………….Full Article: Source

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Optimism builds in Egyptian property sector

Posted on 31 May 2011 by Laxman  |  Email |Print

Shares in Egyptian property companies may have been down but they are not out. The sector has borne the brunt of a string of corruption probes, placing many property companies under fire in the aftermath of the revolution that ousted Hosni Mubarak, the president. At the heart of legal wrangles are conflicting laws governing the sale of state land.
But a series of positive catalysts have prompted investors to return to the market and prop up share prices in what have been seen as underperforming stocks for much of this year……………………………………….Full Article: Source

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S.Arabia: Cabinet approves change in real estate law

Posted on 31 May 2011 by Laxman  |  Email |Print

The Council of Ministers on Monday approved the addition of a new article to the law regulating real estate ownership of foreigners and their investment in the sector. According to the article, the law’s executive bylaw should be approved by the Cabinet.
The Cabinet meeting, which was presided over by Custodian of the Two Holy Mosques King Abdullah, highlighted the tremendous progress achieved by Saudi Arabia during the king’s six-year rule……………………………………….Full Article: Source

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China’s housing prices to drop 10 pct

Posted on 31 May 2011 by Laxman  |  Email |Print

Peking University Guanghua School of Management (GSM) Real Estate Association held a summit forum on the development of China’s real estate on May 29. Experts and scholars believe that this year China’s housing price will drop by 10 percent to 15 percent.
Nie Meisheng, chairman of China Commercial Real Estate Commission (CCREC), says that last year’s housing price started to stabilize in July, while it rebounded in August. The housing prices of Beijing, Shanghai, Guangzhou and Shenzhen— the four major cities of China — rose by 20 percent……………………………………….Full Article: Source

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Colliers Hong Kong report shows growing uncertainty in property market

Posted on 31 May 2011 by Laxman  |  Email |Print

The Hong Kong residential property market is on the rise with housing sites fetching high prices in recent land auctions and individual residential developments registering record high transactions, Colliers International Hong Kong (CIH) has reported. But a slowdown in residential sales activity over the past quarter revealed a growing uncertainty in the market.
Ricky Poon, CIH’s executive director of residential sales said this was proven in cases where vendors were seen raising their asking prices by 3-5 per cent and in some cases, withdrawing their units from sale after the latest government land auction of the three sites in Mid-Levels, Kowloon Tong and Yuen Long……………………………………….Full Article: Source

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Singapore property market focus: A roller-coaster ride

Posted on 31 May 2011 by Laxman  |  Email |Print

It seems that everyone has their own opinion about which way Singapore’s residential property market is heading. Almost all will agree that the stratospheric price rises of last year will not be repeated anytime in the near future, however the most recent figure shows that prices at least are still below pre-global financial crisis levels.
The most recent data from the Urban Redevelopment Authority (URA) showed private residential property prices rose 2.1 per cent during Q1 2011 to record levels……………………………………….Full Article: Source

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Australia: New home sales reflect softening property market

Posted on 31 May 2011 by Laxman  |  Email |Print

New home sales growth remains sluggish, figures show, adding to growing evidence of a lull in the property market.
A report published yesterday found home sales edged up by 0.2 per cent last month but activity was stubbornly below its long-term average, a trend the housing industry blames on weak buyer sentiment and excessive regulation……………………………………….Full Article: Source

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Global office value, rent indexes jumps 12pct in first quarter, CBRE says

Posted on 30 May 2011 by Laxman  |  Email |Print

Raymond TortoAn index of global office values jumped 12 percent in the first quarter of 2011 from a year ago while a rent index rose 4.3 percent, real estate services firm CB Richard Ellis Group Inc. said in a report.
“The fact that capital values have rebounded ahead of rents reflects several factors, including the deeper integration of commercial real estate into the global capital markets,” Raymond Torto, CBRE’s global chief economist, said in an e- mailed release. The pricing of real estate relative to other assets and the availability of favorable financing in the U.S. have also contributed to the recovery, he said……………………………………….Full Article: Source

Jones Lang LaSalle announces merger with King Sturge

Posted on 30 May 2011 by Laxman  |  Email |Print

Christian UlbrichGlobal commercial real estate firm Jones Lang LaSalle will merge with international property consultancy King Sturge. The combined firm will be the clear leader in the UK and also in continental Europe, with greatly enhanced strength and depth of service capabilities across the region that will directly benefit the clients of both companies.
The transaction is expected to close on May 31, 2011. Under its terms, Jones Lang LaSalle will pay consideration of £197 million (approx. €227 million or $324 million) to the partners of King Sturge, with £98 million in cash at closing and the balance paid out in cash over five years……………………………………….Full Article: Source

Europe CMBS market sets default record in April

Posted on 30 May 2011 by Laxman  |  Email |Print

Defaults on European commercial mortgage-backed securities (CMBS) hit a record high in April as 12 new loans became delinquent in the period, according to rating agency Standard & Poor’s. This is the highest monthly number since S&P started covering the market in 2008.
The same number of loans went into special servicing, also representing a new high for monthly increases. Servicers transferred three loans out of special servicing in April and two of these were resolved at a loss, S&P said in a statement……………………………………….Full Article: Source

UK: House prices come under pressure as demand falls in May

Posted on 30 May 2011 by Laxman  |  Email |Print

Demand for housing fell in May for the first time in three months putting downward pressure on house prices once again, according to the latest survey of estate agents by Hometrack.
The property analytics business predicts that prices will end the year 1 per cent lower and that demand for housing is likely to continue to post further modest declines over the summer, with sellers forced to cut prices in areas outside London……………………………………….Full Article: Source

Asian buyers rule London’s new-homes market

Posted on 30 May 2011 by Laxman  |  Email |Print

Asian buyers accounted for the majority of new home purchases in central London for the first time as they took advantage of the pound’s weakness and avoided rising prices at home, Knight Frank LLP said.
The share of deals increased to 59 per cent in the six months through April from 48 per cent a year earlier, the London-based real-estate broker said in a report. Most of the Asian purchasers were based in Hong Kong or Singapore, where residential property prices have risen to records this year……………………………………….Full Article: Source

S.Arabia: Real estate prices seen up on spending, new laws

Posted on 30 May 2011 by Laxman  |  Email |Print

A report prepared by “KFHR” Kuwait Finance House Research Ltd. disclosed expectations about further increase in real estate prices in Saudi Arabia, especially residential and office real estate properties during the upcoming period. The report explained that the government increased spending while government other policies seem to address the gap between supply and demand.
The increase is also attributed to the rapid adoption of new legislations, regulations, and procedures; notably the mortgage law, which will provide a direct driving force to the real estate sector after approval by the Government of the Custodian of the Two Holy Mosques……………………………………….Full Article: Source

Saudi mortgage sector to reach SR904bln in 10 years

Posted on 30 May 2011 by Laxman  |  Email |Print

In anticipation of the Saudi mortgage law being approved this year, Credit Suisse forecast in a study that 52 percent of Saudi households pass the affordability threshold/test, and 17 percent would be potential mortgage seekers (average income of mortgage seekers will be SR11,160).
It further said the overall size of the mortgage sector could amount to as much as SR904 billion or 23 percent of GDP in 10 years, with our base case assumption at 16 percent of GDP (up from 1 percent currently), estimating “sector penetration to reach 10 percent of GDP in 5-6 years, growing at a 5-year CAGR of 46 percent.”………………………………………Full Article: Source

Kabul gold rush: Western billions bear fruit in luxury property boom for Afghan capital

Posted on 30 May 2011 by Laxman  |  Email |Print

Kabul is witnessing an unlikely boom in luxury properties as the billions spent in Afghanistan by the West begin to bear unexpected fruit. The brochures offering pampered life in state-of-the-art apartments could be selling dream properties in any Western capital.
And the ornate towers and palm trees shown in artists’ impressions would look at home in the boulevards of a Gulf emirate……………………………………….Full Article: Source

China: Housing prices likely to see a stable June

Posted on 30 May 2011 by Laxman  |  Email |Print

Contrary to some speculation, the property market will not see a significant drop unless there’s a real estate bubble burst, said one economist. Due to tightened credit policies, real estate developers in Guangdong Province have come under increasing financial pressure, which may push them to cut prices to promote sales in early June, the Guangzhou Daily reported on Sunday, citing real estate advisor, Zhao Zhuowen.
The newspaper also reported developers in Dongguan, a second-tier city in the province, have been inviting pop singers from Hong Kong and Taiwan to attract potential home buyers for the past month……………………………………….Full Article: Source

Singapore’s property market headed towards a perfect storm?

Posted on 30 May 2011 by Laxman  |  Email |Print

When a country registers a 15 percent growth rate, as Singapore did last year, there is bound to be a lot of the feel good factor going around.
And Singapore’s housing market is cashing in on this big time - prices have rebounded a 50 percent in just two years, according to the Urban Redevelopment Authority, and cooling measures by the government have done little to calm them……………………………………….Full Article: Source

Indonesia: Unlocking property

Posted on 30 May 2011 by Laxman  |  Email |Print

A long-awaited change in property ownership rules for foreigners in 2011 could further heat the country’s real estate market amid bullish investor sentiment in the sector. But the government has sent mixed messages over proposals that could potentially incite nationalist sentiment.
In March, the chairman of the Indonesian Investment Coordination Board (BKPM), Gita Wirjawan, said that he was confident the House of Representatives will pass a draft bill regulating foreign ownership of land by the third quarter of 2011……………………………………….Full Article: Source

Indonesia: Property developers asked not to create economic bubble conditions

Posted on 30 May 2011 by Laxman  |  Email |Print

Public Housing Minister Suharso Monoarfa appealed to property developers in the country on Saturday to avoid creating economic bubble conditions as they could fuel inflation.
Economic bubble conditions that had led to the global economic crisis were generally created by activity in the property sector like in the US in 2008, he said……………………………………….Full Article: Source

Unsold properties balloon in Thailand, opportunities for buyers

Posted on 30 May 2011 by Laxman  |  Email |Print

Special promotional offers may entice home buyers after the number of unsold residential properties held by most Thailand property firms increased in the first quarter of 2011 from the fourth quarter of 2010.
The unsold inventory amounted to nearly THB200 billion (US$6.6 billion) in the first quarter of 2011.
Meanwhile, demand for new residences dropped 7 per cent, quarter on quarter……………………………………….Full Article: Source

Australia: New home sales slow to crawl

Posted on 30 May 2011 by Laxman  |  Email |Print

Australia’s new home sales grew at the slowest pace this year in April as the housing market remains locked in the doldrums.
New home sales edged up just 0.2 per cent in April to just 11,000, the Housing Industry Association/ JELD-WEN survey found. That’s less than the 4.3 per cent increase reported for March, and the weakest pace since sales shrank in the final two months of 2010……………………………………….Full Article: Source

NZ: Survey shows confidence in housing market growing

Posted on 30 May 2011 by Laxman  |  Email |Print

ASB says optimism in the housing market is growing. The bank’s Housing Confidence Survey showed 29% of respondents say now is a good time to buy a house, compared to 27% in January.
The survey also revealed a significant drop in the number of people who believe interest rates will rise. Chief economist Nick Tuffley says just over 35% of respondents now expect interest rates to rise this year, down from 55% in January……………………………………….Full Article: Source

S&P identifies troubling trends in US CMBS market

Posted on 27 May 2011 by Laxman  |  Email |Print

Increasingly aggressive property appraisals, so-called “incentive management fees” for hotel properties, and the limited return of “pro forma” underwriting are among the troubling trends that Standard & Poor’s cites as red flags in the quickly evolving revival of the commercial mortgage-backed security market.
In a report released earlier this week, Standard & Poor’s identifies several new trends - and a return to questionable “old” trends - in recent CMBS transactions………………………………………..Full Article: Source

US: With buyers scarce, investors rule housing market

Posted on 27 May 2011 by Laxman  |  Email |Print

If you think there’s no competition in this sluggish real estate market, think again. A survey released Thursday by online real-estate firm Move Inc. suggests housing markets around the country are heating up with more activity from investors.
The survey of 1,000 investors found that they will be more active than typical homebuyers by 3:1. More than half think prices will stay about the same over the next six months to a year, but 22% said prices will rise. And 23% said prices will fall……………………………………….Full Article: Source

Is real estate for suckers?

Posted on 27 May 2011 by Laxman  |  Email |Print

Are you a dope for buying a home in the U.S. right now? If you need and want one, there’s no harm in that. Yet if you think it’s an investment that will actually appreciate, you’re taking a sucker’s bet.
During the bubble years, the “greater fool” theory prevailed. When you bought a home, you were confident that someone would buy it for a higher price than you paid. “Flippers” prospered from this mass psychology……………………………………….Full Article: Source

Real estate growth has already started

Posted on 27 May 2011 by Laxman  |  Email |Print

Weekly Mortgage Activity hit a lull as contracted average mortgage rates increased last week, but an important component data-point within the Mortgage Bankers Association report reminded us that better days lie ahead for housing. In fact, they appear to have already begun.
Mortgage activity had benefited over recent weeks on the precipitous decline of mortgage rates. But last week, as average contracted rates on 30-year and 15-year fixed rate mortgages increased to 4.69% (from 4.6%) and 3.78% (from 3.75%), respectively, activity lulled……………………………………….Full Article: Source

How foreclosures will save housing: 28pct of homes sold in Q1 in foreclosure

Posted on 27 May 2011 by Laxman  |  Email |Print

Foreclosures are the blight that has spread through the real estate market and driven prices to decade lows. The drop in property values that foreclosures have caused has pressured homeowners who want to sell their own houses.
Foreclosures have been a critical reason that many have underwater mortgages which prevents them from selling their homes at all. And foreclosures cause more foreclosures. Those underwater mortgages become too much of a burden to some Americans. These people lose their homes……………………………………….Full Article: Source

Foreign sales increasing in american property market

Posted on 27 May 2011 by Laxman  |  Email |Print

US property purchases by international buyers have increased to $16 billion this year, the largest increase for several years according to new data from the National Association of Realtors.
Properties are being bought up by immigrants and non-resident foreigners, who are seeing the US as a good market in which to invest due to the large inventory and low prices. The US market has the added advantage of good long-term capital growth potential and excellent rental opportunities……………………………………….Full Article: Source

Canada housing prices risk slide, report finds

Posted on 27 May 2011 by Laxman  |  Email |Print

Canada’s housing market faces a risk of sliding prices, according to a report released Wednesday that warns the current global economic rebound from the 2008 crisis could falter.
The Organization for Economic Co-operation and Development’s twice-a-year economic outlook report said the world economy is in an uneven recovery and confronting far more “downside” than “upside” risks……………………………………….Full Article: Source

Nearly half of Canadians interested in selling homes privately, says poll

Posted on 27 May 2011 by Laxman  |  Email |Print

Nearly half of Canadians would consider selling their homes privately but very few are aware of changes implemented several months ago that make that task easier, a new survey suggests.
While 45 per cent of Canadians would consider bypassing realtors to sell privately with the advice of a real estate lawyer, only 11 per cent were aware of and understood changes to getting on the Multiple Listing Service, according to an Environics poll sponsored by the TitlePlus program……………………………………….Full Article: Source

European property markets return return to growth in both stock and volumes

Posted on 27 May 2011 by Laxman  |  Email |Print

Europe’s real estate markets turned the corner in 2010, with invested stock increasing by 4% in marked contrast to the previous year’s decline of 8%, according to DTZ’s flagship ‘Money into Property 2011’ report.
This is forecast to increase further in 2011. The increase in invested stock varied considerably across Europe, ranging from 1% in the UK to 11% in France. There was one notable area of decline, Portugal, Italy, Ireland, Greece and Spain (PIIGS) posted a 3% fall……………………………………….Full Article: Source

Euro listed property could double in size over next five years

Posted on 27 May 2011 by Laxman  |  Email |Print

The European listed real estate sector which is only a small fraction of the investable market has the potential to double in size over the next five years This as banks look to offload distressed property assets held on their books and private investors turn to attractive REIT structures to realize the value of their investments, the Head of Research at the European Public Real Estate Association (EPRA) told a seminar at the Realty 2011 trade fair yesterday (May 25, 2011).
Fraser Hughes, Head of Research at EPRA said: “A number of opportunities are converging that have the potential to double the current €300 billion market capitalization of the European listed real estate sector over the next five years under a best-case scenario.”………………………………………Full Article: Source

EMEA hotel market recovery boosted by growth in investor confidence

Posted on 27 May 2011 by Laxman  |  Email |Print

The hotel market in EMEA is perceived to be firmly on a path to recovery according to Jones Lang LaSalle Hotels’ latest Hotel Investor Sentiment Survey.
Improved market conditions have prompted investors to explore hotel investment opportunities, particularly throughout Western Europe. Only the Middle East and North Africa (MENA) reported negative short-term expectations, driven by political difficulties……………………………………….Full Article: Source

Property values to rise in Eastern Europe

Posted on 27 May 2011 by Laxman  |  Email |Print

Investors looking for higher yield in commercial property would do well to migrate from London to Eastern Europe, Holger Schmidtmayr, Board Director at Austrian real estate investment company Sparkassen Immobilien,said.
Despite suffering from anti-investment rhetoric from host governments and perceptions of widespread corruption, cities like Hungary’s capital Budapest or neighboring Romania’s Bucharest offer good growth opportunities for the next few years, Schmidtmayr said in an interview……………………………………….Full Article: Source

UK: RICS predictions positive on commercial property outlook

Posted on 27 May 2011 by Laxman  |  Email |Print

The latest Global Commercial Property Survey by the Royal Institute of Chartered Surveyors (UK) is positive on the prospects for growth in many global markets. The report found improvements in many countries and said that an increasing number of property professionals were feeling positive about their respective property markets.
It also suggested that the outlook for the second quarter is positive with capital values set to increase and rents expected to rise in more countries as the global property market recovers……………………………………….Full Article: Source

French pension funds take dim view of domestic property market

Posted on 27 May 2011 by Laxman  |  Email |Print

French pension funds have shifted away from the local real estate market in recent years, seeing too many management constraints linked to the asset class and a relatively poor return on investment.
In spite of a recent study published by real estate analyst Investment Property Databank (IPD) showing that the French real estate sector was one of the most dynamic in Europe, with a return on investment of almost 10% in 2010, several French pension funds have been reluctant to invest in the market……………………………………….Full Article: Source

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