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Real Estate Briefing - Archive | February 16th, 2012

US homebuilders feel ‘more positive’‎

Posted on 16 February 2012 by Laxman  |  Email |Print

Ian ShepherdsonU.S. homebuilders are gradually growing more optimistic about the depressed housing market and believe homes sales could pick up sharply when the spring buying season begins.
The National Association of Home Builders/Wells Fargo said Wednesday that its builder sentiment index rose for a fifth straight month in February to 29, up from 25 in January. The index has climbed 15 points since September and is now at its highest level since May 2007………………………………………..Full Article: Source

Mom and pop investors propping up home-buying market

Posted on 16 February 2012 by Laxman  |  Email |Print

John BurnsMom and pop investors like the Basilis are snapping up homes and condominiums to rent out all over the country. They’re capitalizing on a confluence of events: depressed home prices, rising rents and strong rental demand. A typical plan? Buy cheap. Collect rents to cover costs. Cash out — one day — when home prices recover.
“An unprecedented number of investors are looking into this,” says John Burns, CEO of John Burns Real Estate Consulting………………………………………..Full Article: Source

How to be your own real estate agent

Posted on 16 February 2012 by Laxman  |  Email |Print

The depressed housing market has many home sellers acting as their own real estate agent to try and keep more money in their pockets. With home prices falling 4.7% last year, according to CoreLogic, sellers are looking to side step the 5% to 6% commission real estate agents typically take from sales.
But selling a home yourself isn’t as easy as posting a for sale sign on your front lawn. From setting the right price to attracting buyers, there’s a lot you need to know if you want to successfully sell your home………………………………………..Full Article: Source

Ben Bernanke and America’s housing market

Posted on 16 February 2012 by Laxman  |  Email |Print

A recent speech by Ben Bernanke sheds some interesting light on the housing situation in the United States. In this speech entitled “Housing Markets in Transition”, Mr. Bernanke goes on at length about what ails the U.S. housing market and how the issue is impacting the so-called economic recovery. Here are a few salient points from his speech.
Mr. Bernanke opens by noting that, although the economic recovery began more than two years ago (officially in June 2009 according to NBER), it doesn’t feel much like a recovery, particularly if you are one of the millions of long-term unemployed or if you happen to own or have lost ownership of a home………………………………………..Full Article: Source

California home prices down due to distressed properties

Posted on 16 February 2012 by Laxman  |  Email |Print

California home prices decreased in January as sales shifted toward “distressed” property and brought the average lower, the California Association of Realtors said Wednesday.
The median price of a single-family detached home fell to $268,280 in January, down 6.7 percent from $285,920 in December. The median price also dropped 3.9 percent from $279,220 median price recorded in January 2011, the organization said………………………………………..Full Article: Source

Canada: Housing market cooled in January, report says

Posted on 16 February 2012 by Laxman  |  Email |Print

Canada’s hot housing market cooled in January, the Canadian Real Estate Association announced Wednesday, with home sales down 4.5 per cent from the month before.The decline was the first for monthly sales activity since August 2011, and the biggest monthly decline since July 2010, the agency said.
According to the figures, the national average home price went up by a mere 1.2 per cent year-over-year in January, one of the smallest increases since late 2010. The national average home price for the month was $348,178………………………………………..Full Article: Source

CPPIB eyes real estate deals amid turbulence

Posted on 16 February 2012 by Laxman  |  Email |Print

Canada Pension Plan Investment Board, fresh from striking its biggest real estate deal ever, is weighing three or four other acquisitions as it looks to scoop up undervalued assets in a tumultuous global property market.
CPPIB, with C$153 billion ($153.38 billion) in managed assets, is mostly interested in property in emerging market powerhouses such as Brazil and China, with their strong long-term growth outlooks, said Graeme Eadie, senior vice president for real estate investments at CPPIB, one of Canada’s largest pension fund administrators. But it might also unearth value in more established centers such as London………………………………………..Full Article: Source

UK: House prices fall further, but outlook improves

Posted on 16 February 2012 by Laxman  |  Email |Print

House prices continued to fall in the three months to January, but surveyors became much less downbeat about prices for the coming months, a survey showed on Tuesday.
The Royal Institution of Chartered Surveyors’ seasonally adjusted house price balance stood at -16 last month, unchanged from December, which was the highest reading since July 2010. The January reading beat economists’ forecasts for a dip to -17………………………………………..Full Article: Source

IPD: UK values continue to slide in January

Posted on 16 February 2012 by Laxman  |  Email |Print

Capital values fell by another -0.2% in January as the New Year brought little good news for the UK property market. Total return fell to 0.4%, its lowest since June 2009, according to the IPD UK Monthly Index.
Phil Tily, Managing Director of the UK and Ireland, explained, “Rental values fell back into decline in January, albeit slightly, and they have now been negative for three out of the last four months. Yields saw slight expansion, but fragile occupier demand remains the main driver behind falling capital values.”……………………………………….Full Article: Source

How much gold does it cost to buy a home in Britain?

Posted on 16 February 2012 by Laxman  |  Email |Print

First, there are many who have wisely moved their wealth into gold to see out the current financial storm. They will move out of gold when they see relative value elsewhere. Hence the need to compare the price of gold to other markets.
Second, we are living in an age where money is being systematically, deliberately debased. This is not a conspiracy theory. The Bank of England is ignoring its stated duty, which is to keep inflation at 2%………………………………………..Full Article: Source

German deal volumes seen hitting EUR 20-25bln in 2012

Posted on 16 February 2012 by Laxman  |  Email |Print

Germany is forecast to see robust real estate investment in 2012 thanks to its perception as a safe haven amid the eurozone sovereign debt crisis.
Property advisers have predicted a full-year volume for Germany of more than EUR 20 bn this year, with DTZ publishing a range up to EUR 25 bn. The higher end of the range would be an increase of roughly 8.6% on the EUR 23 bn-plus recorded in 2011………………………………………..Full Article: Source

Property investors ‘focus on Spain’

Posted on 16 February 2012 by Laxman  |  Email |Print

Property investment in Spain is becoming increasingly popular, the website editor of A Place in the Sun magazine has said. Liz Rowlinson said the current economic climate has led many investors to focus on more established property markets such as the one in Spain, since they are regarded as safer than emerging markets elsewhere.
She added that the magazine’s readers also appear to favour Spain as a good location for investment “by some measure”………………………………………..Full Article: Source

Polish investment market to hit EUR2.5 bln in 2012

Posted on 16 February 2012 by Laxman  |  Email |Print

Savills expects commercial real estate investment volumes in Poland during 2012 to reach similar levels to those of 2011 which exceeded €2.5 billion and reflect a growth of 45% on 2010.
The international real estate advisor predicts that in 2012 prime office properties in Warsaw will be the main focus for buyers in Poland, having accounted for 45% of total investment in 2011, 98% of these in Warsaw………………………………………..Full Article: Source

Saudi construction projects at all time high in 2011

Posted on 16 February 2012 by Laxman  |  Email |Print

A surge in public spending to a record high in 2011 boosted the value of awarded construction projects in Saudi Arabia to an all time high and activity will remain strong through 2012, the Gulf kingdom’s largest bank said on Wednesday.
The total value of awarded contracts jumped by 155 per cent to SR270 billion during 2011, surpassing the previous record value of SR207 in 2009, National Commercial Bank (NCB) said in its latest construction index report………………………………………..Full Article: Source

Incentives on rise for property buyers in Abu Dhabi

Posted on 16 February 2012 by Laxman  |  Email |Print

Discounted mortgages and offers such as “rent to own” are expected to become a growing feature of Abu Dhabi’s property landscape as developers compete to fill new homes coming into the market.
Such offers have been scarce in the capital as there were fewer foreign ownership opportunities and a chronic shortage of property to rent. But that is rapidly changing said one developer in Abu Dhabi………………………………………..Full Article: Source

Can public private partnerships solve Bahrain’s housing crisis?

Posted on 16 February 2012 by Laxman  |  Email |Print

Providing affordable housing through a private sector deal could be the first step in clearing Bahrain’s 15 year waiting list. The start of 2012 witnessed the signing of the first ever deal for the provision of affordable housing on a public private partnership basis in the Middle East.
The deal was struck with the Bahrain government and, for many people, is unavoidably set in the context of a year of upheaval across the region………………………………………..Full Article: Source

Housing prices in Mumbai, Kolkata down; Delhi rates up in Q3

Posted on 16 February 2012 by Laxman  |  Email |Print

Prices of residential properties in Mumbai and Kolkata witnessed a downward movement while Delhi prices firmed up during the third quarter of the current fiscal, as per the latest Residex released by the National Housing Bank (NHB).
Prices of houses in Kolkata and Mumbai declined by 0.5 per cent in October-December period of 2011-12 compared to previous quarter. Among other cities, the maximum decline was observed in Kochi at 15.5 per cent followed by Hyderabad at 6 per cent, Jaipur 1.5 per cent and Patna 0.7 per cent………………………………………..Full Article: Source

Real-estate chief exits from China wealth fund

Posted on 16 February 2012 by Laxman  |  Email |Print

The head of real estate for China’s giant sovereign-wealth fund resigned last week after two months on the job, following other departures from the real-estate division of one of the world’s most-active property investors.
Patrick Wu, who had been with China Investment Corp. for about four years, was elevated to the top position in the real-estate group in December, succeeding Collin Lau, who took a position with the fund’s European private-equity division………………………………………..Full Article: Source

VietNam: Investors remain optimistic about property market

Posted on 16 February 2012 by Laxman  |  Email |Print

Many foreign investors consider the current downturn in the local property market an opportunity for them to jump in and stay ahead when the market recovers.
Many developers, particularly those who rely heavily on big loans from banks, are lamenting their current situation in which they cannot clear their stocks as buyers are holding a wait-and-see attitude toward the market………………………………………..Full Article: Source

Seven positive signs for Australia’s property markets

Posted on 16 February 2012 by Laxman  |  Email |Print

The vacancy rate is tight. In most capitals and major regional markets it remains under 3% and is much lower in Brisbane, Sydney, Perth, Canberra and central Queensland. Rents growth is starting to accelerate, and we know of numerous examples where more than 30 rental submissions are being received for vacant rental dwellings across Brisbane.
Sales have improved since mid-year, and those vendors who meet the market are selling – and now, often quickly. It is still a buyer’s market – with the high supply of stock for resale – ensuring that you need to realistically price and market your property well in order to make a sale………………………………………..Full Article: Source

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