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Real Estate Briefing - Archive | January, 2012

More families set to lose their homes as squeeze bites deeper

Posted on 24 January 2012 by Laxman  |  Email |Print

Britain is braced for a sharp rise in home repossessions as the consumer squeeze forces thousands of struggling families to the wall.
Low interest rates and lower-than-expected unemployment kept repossessions at relatively small numbers through the recession and they eased again as the country struggled into a tepid recovery………………………………………..Full Article: Source

UK mortgage market faces tough 2012, CML says

Posted on 24 January 2012 by Laxman  |  Email |Print

Mortgage lending increased for the fifth month running in December but the housing market faces a weak first half of 2012 as demand from buyers wanes and lenders raise rates, a leading trade body has warned.
The Council for Mortgage Lenders (CML) said the “challenging” economic outlook suggested “a weak first half for the housing market” despite the improving trend at the end of last year……………………………………….Full Article: Source

German central bank to sell Lehman property-loan portfolio to Lone Star

Posted on 24 January 2012 by Laxman  |  Email |Print

The German central bank has declined to confirm that it has sold 50% of the €1.8bn Excalibur property loan portfolio inherited from the Lehman Brothers collapse to US private equity firm Lone Star.
In a statement, it said disposal of the highly complex securities used as collateral by the bank was “not yet complete”, but that it would not comment on ongoing business transactions………………………………………..Full Article: Source

JLL: Prague’s office market sees highest gross take-up figures in modern history

Posted on 24 January 2012 by Laxman  |  Email |Print

The cumulative gross take-up figures for Prague’s office market for 2011 reached a record 325,564 m², which is almost 52% more than in 2010, according to the latest research from Jones Lang LaSalle.
Eduard Forejt, Head of Office Agency at Jones Lang LaSalle, commented: “The 2011 figures represent the highest gross take-up in the modern history of Prague office market and have exceeded the previous best result from 2006 by more than 40,000 m²,” and he continues, “it is also by almost 100,000 m² higher than 10 years average take-up on the market.”……………………………………….Full Article: Source

2011 ‘difficult year for UAE real estate investors’

Posted on 24 January 2012 by Laxman  |  Email |Print

Jones Lang LaSalle, the world’s leading real estate investment and advisory firm, has released its “Top Trends for UAE Real Estate in 2012″. This is the fifth year that Jones Lang LaSalle has published its keynote research anticipating the major trends affecting and shaping the UAE real estate sector.
Alan Robertson, CEO, Jones Lang LaSalle MENA, said: “2011 was a difficult year for real estate investors with most sectors of the market moving in the favor of tenants, with lower prices and rentals.”……………………………………….Full Article: Source

Dubai property: Residential market close to bottom

Posted on 24 January 2012 by Laxman  |  Email |Print

It will be a broader recovery for the Dubai residential market in terms of prices and rentals next year than just some pockets showing signs of stablistation this year, according to Jones Lang LaSalle (JLL).
“Residential market is close to bottom while prices are increasing in certain areas. We will see some recovery by end of the year, but the market sector as a whole will recover next year,” Craig Plumb, Head of Research, Jones Lang LaSalle Mena, said………………………………………..Full Article: Source

Kuwait: Real estate prices steadily increasing

Posted on 24 January 2012 by Laxman  |  Email |Print

For those aiming to buy or sell a house, land, building or other property can now easily find the price of the real estate on spot through a telephone call. Abdulkareem Al-Othman and his brother provide consultancy and advices about the real value of the property through their office Mubadarat Real Estate, which was launched about seven years ago.
Some people aim to buy or sell their house, while others are looking for an investment opportunity………………………………………..Full Article: Source

China’s housing market is set for a hard landing

Posted on 24 January 2012 by Laxman  |  Email |Print

The Chinese government’s announcement last week that growth for 2011 slowed only slightly to a still impressive 9.2% was greeted enthusiastically by the world’s stock markets. Investors also remain buoyant on China’s future.
They appear to be buying the official line that the gigantic property price bubble is gradually and smoothly deflating, posing little risk to an engine that’s so crucial to the future of global trade………………………………………..Full Article: Source

Hong Kong real estate ‘bubbly’ as China reverses cooling measures

Posted on 24 January 2012 by Laxman  |  Email |Print

Hong Kong’s property market threatens to become bubbly as underlying occupier demand fails to keep pace with out-of-kilter pricing, according to economists at Lombard Street Research.
Hong Kong property-price increases have outstripped those in Singapore and London, fuelled by monetary excess and a lack of other investment options………………………………………..Full Article: Source

Malaysia’s housing market to pick up first half of 2012

Posted on 24 January 2012 by Laxman  |  Email |Print

The Malaysian housing market is expected to pick up in the first half of 2012 with buyers and developers showing more confidence in the Malaysian market.
A Real Estate and Housing Developers’ Association Malaysia (Rehda) survey found that 79 per cent of the 148 developers who responded were optimistic of the first six months of this year compared with 81 per cent in the second half of 2011. Some 63 per cent said they will launch new projects in the first six months of this year, against 58 per cent in the preceding six months………………………………………..Full Article: Source

Australia: Property taking longer to sell as stock levels hit record highs in some areas: RP Data

Posted on 24 January 2012 by Laxman  |  Email |Print

The glut of property sitting unsold on the market means 2012 buyers could find reduced prices in capital city markets given vendors face lengthy blowouts in the number of days on market before sale.
Premium housing has recorded the highest blowout in the average time on market before sale, according to a RP Data survey. Perth’s Cottesloe houses are currently taking up to 160 days to sell, up by 74 days over the year………………………………………..Full Article: Source

CBRE: Global outlook for real estate remains unclear in 2012

Posted on 23 January 2012 by Laxman  |  Email |Print

Raymond TortoMacro-economic and political landscape uncertainty suggests that a cautious outlook for commercial real estate is likely to persist into 2012, according to a new report from CBRE Global Research.
The Global ViewPoint for 2012 notes that high-quality real estate assets in prime locations should continue to perform well compared to secondary real estate and very competitive with regard to other asset classes. “With the level of uncertainty today, it is inevitable that the outlook for real estate will in many ways be equally unclear,” said Raymond Torto, CBRE’s Global Chief Economist………………………………………..Full Article: Source

U.S: Home sales continue to improve

Posted on 23 January 2012 by Laxman  |  Email |Print

Lawrence YunHome sales ended a difficult year on a high note, resulting in a gain in full-year sales volume. The National Association of Realtors reported that the annual sales pace in December reached 4.6 million homes, up 5% from November’s pace and 3.6% from a year ago.
It was the third straight month of improvement in the pace of sales. The fourth-quarter sales volume lifted full-year sales to 4.26 million homes, up 1.7% from 2010 levels………………………………………..Full Article: Source

Sales stir hope for housing market

Posted on 23 January 2012 by Laxman  |  Email |Print

Sales of previously owned homes rose in December for the third straight month, bringing the supply of homes listed for sale to the lowest level since 2006 and offering a glimmer of hope that the housing market could be starting to climb out of a profound downturn.
Existing-home sales increased 5% in December from a month earlier, to a seasonally adjusted annual rate of 4.61 million units, the National Association of Realtors said Friday. Lawrence Yun, the Realtors’ chief economist, called the December gain “a good finish to a very tough year.”……………………………………….Full Article: Source

Sales of existing U.S. homes probably rose to highest level since May 2010

Posted on 23 January 2012 by Laxman  |  Email |Print

Sales of previously owned U.S. homes probably rose in December to the highest level in more than a year, a sign the housing market ended 2011 with momentum, economists said.
Purchases increased 5.2 percent last month to a 4.65 million annual rate, the most since May 2010, according to the median forecast of 75 economists surveyed by Bloomberg News………………………………………..Full Article: Source

Economists see ways to goose housing market

Posted on 23 January 2012 by Laxman  |  Email |Print

The underpinnings of a housing recovery are hiding in plain sight: sharp price declines, low mortgage rates and rising rents have made owning more affordable than renting in a growing number of markets.
Yet housing largely remains in a funk. The prospect of continued price declines—led by the oversupply of foreclosed homes—has deterred some potential buyers, while others can’t qualify for loans………………………………………..Full Article: Source

Some Canada property markets likely overvalued: BoC

Posted on 23 January 2012 by Laxman  |  Email |Print

Some parts of the Canadian real estate market are “probably overvalued” and policymakers are monitoring to see if further steps are needed to cool it, the head of the country’s central bank said in an interview broadcast on Sunday.
It was the second time in recent days that Bank of Canada Governor Mark Carney voiced concern about property prices, which surged after the financial crisis as borrowing costs tumbled………………………………………..Full Article: Source

Vancouver is second-costliest housing market

Posted on 23 January 2012 by Laxman  |  Email |Print

Vancouver displaced Sydney as the least-affordable housing market after Hong Kong among large English-speaking cities, as home prices rose faster than incomes, a study of 325 metropolitan areas worldwide showed.
Vancouver’s median home price of C$678,000 ($686,400) in the third quarter was 10.6 times its median pretax household income of C$63,800, making the city “severely unaffordable,” Demographia said in a report ……………………………………….Full Article: Source

UK deal volume slips in 2011: CBRE

Posted on 23 January 2012 by Laxman  |  Email |Print

Investment in UK commercial property slipped 8% to £32.5 bn (EUR 42.1 bn) in 2011, according to new research from CBRE. This is still significantly higher than the £24.25 bn recorded in 2008 and £25.2 bn in 2009.
Overall UK investment in 2011 significantly outperformed other European commercial property markets, with Germany (£19.6 bn) and France (£13 bn) the second and third largest markets. The UK accounted for roughly one-third of all investment activity in the EMEA region which totalled £99.5 bn in 2011………………………………………..Full Article: Source

Homebuilders get Cameron boost with 5pct down payments: Mortgages

Posted on 23 January 2012 by Laxman  |  Email |Print

The British government’s plan to help reduce down payments for new homes to as low as 5 percent will give a boost to a homebuilding industry that’s learned how to survive a slowing economy and four years of stingy credit.
Mortgage lending is less than half the level of 2006, at the end of the housing boom, with buyers now required to pay as much as 25 percent of a home’s value up front………………………………………..Full Article: Source

Asian investment into London office market soars

Posted on 23 January 2012 by Laxman  |  Email |Print

Asian investors accounted for £1.7 bn (EUR 2.03 bn) worth of transactions in Central London’s office investment market during 2011, marking a 150% increase compared to the £668 mln recorded in 2010, according to latest figures issued from Jones Lang LaSalle.
Total investment volumes in the Central London office market reached £10.8 bn in 2011, with international buyers representing 60% of total investment volumes. Asian buyers accounted for 16% last year, up from 6% in 2010………………………………………..Full Article: Source

Savills: German transaction volume to beat EUR20 bln mark in 2012

Posted on 23 January 2012 by Laxman  |  Email |Print

International real estate advisor Savills predicts transaction volumes for Germany’s commercial real estate market will exceed €20 billion in 2012 with continued strong demand from both domestic and foreign investors.
According to the firm’s research real estate worth approximately €22.6 billion changed ownership in Germany in 2011, marking a 20% increase on 2010 (€18.77 billion)………………………………………..Full Article: Source

Saudi: New housing projects in 118 cities

Posted on 23 January 2012 by Laxman  |  Email |Print

The Ministry of Housing plans to build homes for citizens in 118 cities across the Kingdom, said Dr. Shuwaish Bin Saud Al-Dhuwaihi, Minister of Housing. The projects will cater to the needs of all income groups, including more affluent people, the minister said during a tour Thursday of the Hail Housing Project of 1,201 units.
Al-Dhuwaihi said there are two ministry housing projects in Jeddah — one near the new King Abdulaziz International Airport site and the second in downtown Jeddah. Both projects are being planned and designed………………………………………..Full Article: Source

Iran military conflict would harm U.A.E. real estate market, JLL says

Posted on 23 January 2012 by Laxman  |  Email |Print

A military conflict between Iran and Western powers would be detrimental to property prices in the United Arab Emirates as the country would lose its safe haven status, according to Jones Lang LaSalle Inc.
A confrontation will affect “confidence in the U.A.E. and the impact on real-estate prices would be certainly negative,” said Fadi Moussalli, regional director for Middle East and North Africa at Jones Lang LaSalle………………………………………..Full Article: Source

Dubai, Abu Dhabi real estate prices to soften in 2012

Posted on 23 January 2012 by Laxman  |  Email |Print

Private residences stand on the East Fronds branch of the Palm Jumeirah artificial island, a Nakheel development, off the coast of Dubai on Wednesday. Real estate consultancy firm Jones Lang LaSalle said it expects average real estate prices in Dubai and Abu Dhabi to soften further in 2012 as more supply comes online, regional political instability continues and the European debt crisis deepens.
“2011 was a difficult year for real estate investors with most sectors of the market moving in the favour of tenants, with lower prices and rentals. While these trends appear likely to continue into 2012, the main trend is likely to be an increasing polarisation within each sector of the market,” said Alan Robertson, chief executive officer of Jones Lang LaSalle Mena………………………………………..Full Article: Source

Year of the tenant? 2012 predictions for UAE’s property market

Posted on 23 January 2012 by Laxman  |  Email |Print

‘Asset Specific’ and ‘Realism’ were two of the catch phrases of the annual Jones Lang LaSalle Top Trends predictions for 2012. In this article we break down what JLL’s predictions may mean for you.
JLL predicts that the UAE realty scene, once known for being over the top (not to forget At The Top), will finally be sobering down. So instead of building skyscrapers that are the ‘tallest in the world,’ JLL predicts a significant shift towards mid-market developments both in the residential sector as well as in the hospitality sector………………………………………..Full Article: Source

China’s home market should retreat after curbs, Hang Lung’s chairman says

Posted on 23 January 2012 by Laxman  |  Email |Print

China’s home market, bracing for the most severe slowdown in three years, should retreat after “extraordinarily tough” measures by the government, said Ronnie Chan, chairman of Hang Lung Properties Ltd.
Home purchase limits and tighter mortgage requirements imposed by the government “just choked the market,” Chan, whose Hong Kong-based developer is investing more than HK$40 billion ($5.2 billion) building shopping malls in China, said……………………………………….Full Article: Source

Singapore’s new home sales garner bigger slice of private market

Posted on 23 January 2012 by Laxman  |  Email |Print

Singapore’s property landscape is changing, with new home sales by developers making up an increasing share of the private market.
Primary market sales, including those of executive condos (ECs), accounted for 46 per cent of all transactions lodged last year - the highest level since 2003 - according to caveats lodged with the Urban Redevelopment Authority (URA)………………………………………..Full Article: Source

Australia: House prices drop, but we’re still up on global list

Posted on 23 January 2012 by Laxman  |  Email |Print

Housing affordability improved in Australia last year, according to an annual international ranking, but local real estate still remains some of the least affordable in the world.
Australia’s national unaffordability ratio sank from 6.1 times in 2010 to the still ‘’severely unaffordable” ratio of 5.6 times, helped by sinking home prices, according to analysis by a US research group………………………………………..Full Article: Source

NZ housing ’severely unaffordable’

Posted on 23 January 2012 by Laxman  |  Email |Print

An annual international survey on house prices is pointing to difficulties in the post-earthquake rebuilding of Christchurch as an example of failed urban governance and planning.
It also sees the establishment of the Auckland super city as a particular risk for New Zealand. The eighth annual Demographia International Housing Affordability Survey looks at housing affordability in 325 urban markets in the United States, Britain, Canada, Australia, Ireland, Hong Kong and New Zealand………………………………………..Full Article: Source

U.S: Housing market shows signs of life

Posted on 20 January 2012 by Laxman  |  Email |Print

The housing market is showing signs of life. This month, confidence among builders of single-family homes is at its highest level since June 2007. The National Association of Home Builders/Wells Fargo Housing Market Index, based on a survey of homebuilders, rose to 25 in January, reflecting an outlook that is low historically but improved from the summer.
Readings on current sales conditions and expectations for sales over the next six months all rose………………………………………..Full Article: Source

U.S: New home construction gathers momentum

Posted on 20 January 2012 by Laxman  |  Email |Print

New home construction slowed slightly in December after a strong November showing, but was still much more active than a year earlier. The Census Bureau reported that housing starts fell to 657,000 on an annual basis, down just 4.1% compared with a strong November. Building permits, which are less affected by weather than starts, came in at a 679,000 annual rate, about the same as a month earlier.
The results lagged industry expectations. A consensus of industry experts from Briefing.com had forecast starts of 673,000 and permits of 680,000………………………………………..Full Article: Source

U.S. housing starts drop 4.1pct, worse than forecast

Posted on 20 January 2012 by Laxman  |  Email |Print

Builders began work on fewer houses than forecast in December, capping the worst year on record for single-family home construction and signaling recovery in the industry will take time.
Housing starts dropped 4.1 percent to a 657,000 annual rate last month, reflecting a slump in multifamily dwellings, Commerce Department figures showed today in Washington. Building permits, a proxy for future construction, were little changed………………………………………..Full Article: Source

Reports suggest US housing market may be looking up

Posted on 20 January 2012 by Laxman  |  Email |Print

Two economic reports issued Wednesday hinted that the battered U.S. housing market might at last be on the road to recovery.
The number of mortgage applications filed last week surged 23 percent from one week earlier, according to the Mortgage Bankers Association. The MBA’s seasonally adjusted data also showed that fully 82 percent of the applications filed were not home buyers, but people looking to refinance their home at the current extremely low interest rates………………………………………..Full Article: Source

Housing market picks up speed for 2012

Posted on 20 January 2012 by Laxman  |  Email |Print

It’s only January, but already the latest real estate news indicate that the housing market is looking up. CoreLogic’s latest MarketPulse report, released Wednesday, suggests 2012 could be the year of the housing turnaround. Improved unemployment figures, low mortgage interest rates and inexpensive homes could be just the kick the housing market needs to begin a recovery.
Home sales are expected to rise between 2 and 5 percent year-over-year, according to Freddie Mac’s U.S. Economic and Housing Market Outlook survey, also released Wednesday………………………………………..Full Article: Source

New York City real estate values projected to increase 3.8pct

Posted on 20 January 2012 by Laxman  |  Email |Print

The value of New York City’s more than 1 million properties may rise 3.8 percent to $845.4 billion this fiscal year as the real estate market recovers, according to a projection by the city Finance Department.
Commercial properties, including Manhattan’s signature office towers, will gain the most, with a 7.9 percent increase to $222.7 billion, according to the tentative assessment for fiscal 2013. “Market forces” — changes in supply and demand - - accounted for more than half that increase, the Finance Department said………………………………………..Full Article: Source

Cross-border investors raise market share in Europe

Posted on 20 January 2012 by Laxman  |  Email |Print

Commercial property investment volumes in Europe rose by a better-than-expected 17.7% in the final quarter of 2011 to EUR 36.8bn, according to Cushman & Wakefield. For the full year, investment volume totalled EUR 126.2bn, marking an increase of 7.8% on 2010. This is about 10% higher than the EUR 115 bn reported earlier this week by CBRE.
The growth was propelled by foreign investors, who saw their market share rise to 36% from 33% in 2010………………………………………..Full Article: Source

Total return for UK commercial property in 2011 was 8.1pct

Posted on 20 January 2012 by Laxman  |  Email |Print

Total return for commercial property in 2011 was 8.1%, according to the IPD UK Monthly Index. Capital growth slowed to 1.2%, while income return amounted to 6.8%.
Capital values fell for the second consecutive month in December, by -0.1%, making growth just negative overall for the last quarter of 2011. Total return, which stood at 0.5% for all property in December, was down in all three market sectors………………………………………..Full Article: Source

UK: Rents fall again – even in London

Posted on 20 January 2012 by Laxman  |  Email |Print

The cost of renting in the UK fell for the second month in a row in December, but is up 4% over the year, according to new research.
The average monthly rent in England and Wales is now £711 a month, down 0.8% on November, according to LSL Property Services. In December 2010 rents fell 1.2%………………………………………..Full Article: Source

UK: Property sales fall to lowest level for a year

Posted on 20 January 2012 by Laxman  |  Email |Print

But an unexpected surge in interest from potential homebuyers in December bodes well for the house market this year, estate agents said.
The typical number of house hunters registered per branch in December was 294, 32 more than the average figure for November, with viewings continuing right up until the Christmas break, the National Association of Estate Agents (NAEA) found………………………………………..Full Article: Source

Rising investment in French commercial property

Posted on 20 January 2012 by Laxman  |  Email |Print

During the final three months of 2011, France recorded its highest commercial property transaction volume since the third quarter of 2007. Figures released by CB Richard Ellis (CBRE) revealed that investment in French commercial real estate climbed by 65 per cent between the third and fourth quarters of last year.
In total, €6.5 billion (£5.4 billion) was transacted between October and December 2011, making it the second most popular market in Europe after the UK………………………………………..Full Article: Source

Savills sees German deal volume holding firm in 2012

Posted on 20 January 2012 by Laxman  |  Email |Print

Transaction volumes for Germany’s commercial real estate market will exceed EUR 20 bn in 2012 with continued strong demand from both domestic and foreign investors, according to real estate adviser Savills. Last year, approximately EUR 22.6bn changed hands in the country, marking a 20% increase on 2010.
‘The final quarter of 2011 recorded the second best investment volume of the year at approximately EUR 5.8bn, showing little evidence in the investment market of a deteriorating macro-economic environment,’ said Lars-Oliver Breuer, head of Investment at Savills Germany………………………………………..Full Article: Source

Savills: German office market hits three year take-up high

Posted on 20 January 2012 by Laxman  |  Email |Print

The five major German office markets of Berlin, Düsseldorf, Frankfurt, Hamburg and Munich ended 2011 on a three-year high in terms of take-up according to international real estate advisor Savills.
The firm’s research shows that total take-up reached approximately 2.85 million m², close to 2008 levels (approx. 2.9 million m²). Compared to 2010 turnover increases are just below 7%………………………………………..Full Article: Source

Italians, Greeks seek shelter in Berlin house market

Posted on 20 January 2012 by Laxman  |  Email |Print

Italian pensioners, doctors, film directors, architects, young couples and teachers, as well as similar middle class Greek families, are looking around with budgets of up to 150,000 euros (123,000 pounds), more than enough for a two-room apartment, agents in Berlin said.
The property rush has made the fortune of Berlin real estate professionals who speak foreign languages. “Sales of residential property skyrocketed in the last two months due to fears of a possible default of Italy, new property taxes and threats of a recession,” said Federico Racca, a manager at Berlino Immobiliare, a real estate agency in Berlin whose clients are mostly Italians………………………………………..Full Article: Source

Swiss housing market in ‘dangerous trend’: UBS

Posted on 20 January 2012 by Laxman  |  Email |Print

The price of housing has increased by an average of 35 percent in the last five years, a UBS annual report says. With interest rates lower than ever before and stock markets in constant turmoil, Swiss investors see the real estate market as a solid asset, according to the bank’s ‘Real estate focus 2012′ report.
But the bank’s research branch warned that the real estate market is “overheated” in Switzerland. Investors’ expectations are “clearly too optimistic”, the bank said, while the bleak outlook for the euro area and a lack of alternative investments make for a “dangerous mix”………………………………………..Full Article: Source

Soros proves nothing rotten in Denmark as home financing excels

Posted on 20 January 2012 by Laxman  |  Email |Print

Billionaire George Soros’s assertion that Denmark’s $480 billion mortgage credit system can weather any crisis better than any country where mortgages are bought and sold is proving the rule for international investors.
The Nykredit Mortgage Bond Index, which includes the largest, most-traded of the securities, rose to a record this month, holding up through a real estate slump, a banking meltdown and Europe’s debt crisis. Home-loan bonds have gained 29.2 percent since 2007, beating U.S. Treasuries………………………………………..Full Article: Source

Turkey’s young shoppers choosing malls fuels building boom

Posted on 20 January 2012 by Laxman  |  Email |Print

Turkey, where jewelry, fabrics and spices have been haggled over in bazaars for centuries, was among the last European countries to embrace modern shopping centers. It’s catching up quickly.
Property developers attracted by one of the youngest populations in Europe are building malls at a faster rate than in any other country on the continent except Russia. Istanbul, Turkey’s wealthiest and most populous city, is leading the way with about 30 centers in the pipeline………………………………………..Full Article: Source

South Africa: Top 10 property investor tips for 2012

Posted on 20 January 2012 by Laxman  |  Email |Print

According to research conducted by Auction Alliance, more than 8% of all South African homeowners with mortgage bonds are still underwater with their loans (where balances are higher than values), hinting that there are more distressed sales still to come.
In effect, this will continue to restrain price growth in some areas, and create major constraints for certain sellers in 2012. “So, if it’s still a buyer’s market here are 5 tips for 2012 that are aimed largely at the group that needs the most advice – South African home-sellers. In addition, there are also five tips to help buyers navigate the surplus of investment opportunities available” comments Rael Levitt………………………………………..Full Article: Source

India: Expecting rebound, real estate companies step up hiring

Posted on 20 January 2012 by Laxman  |  Email |Print

At a time when most sectors of the industry are preparing to downsize, the real estate sector is planning to do just the opposite - it is drawing up plans to hire thousands in the coming months, anticipating a possible rebound.
Nearly 985 million sq ft of residential space is due for delivery between 2011 and 2013 in existing projects, says real estate data and analytics provider, PropEquity. “To execute the amount of space they have sold, developers will have to double their bandwidth,” says Samir Jasuja, chief executive officer at PropEquity. In comparison, only about 522 million sq ft was delivered in 2008-10………………………………………..Full Article: Source

China’s property market: China’s housing downturn will benefit state-owned developers

Posted on 20 January 2012 by Laxman  |  Email |Print

Could the arrival of the year of the dragon rescue the country’s beleaguered property developers? As Chinese new year approaches later this month, tens of thousands of couples are preparing to marry under what is considered an auspicious sign. To win over a bride in a country undersupplied with women, it helps a lot if the aspiring groom first proves his worth by buying a home.
China’s developers need all the help they can get. Keen to cool overheating residential-property markets, the central government has restricted purchases of multiple homes, demanded larger down-payments and curtailed opportunities for speculators to “flip”, or quickly sell on, properties………………………………………..Full Article: Source

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