Posted on 17 May 2012 by Laxman | Email |Print
Canada’s real estate market may be cooling, but a new report says high-end homes are still going strong. Re/Max said its Upper-End Report (which has something of a ring to it) found continuing demand for luxury abodes in the first quarter of the year.
Thirteen of 16 major cities saw an increase in price, the majority in the double-digit area. Ten centres set records. Regina saw the heftiest gains, followed by Quebec City, Toronto and the Ontario regions of London and Kitchener-Waterloo………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
Local homebuilding companies here in the timber mill town of Coos Bay report brisk business in May even while they wish improving home sales mirrored the housing market boom up in Canada.
Home building contractor Barry explains that “if you take a day drive up to nearby Vancouver, British Columbia, it looks like Coos Bay back during the housing boom of say 2007 and 2008.”……………………………………….Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
Builders in the U.S. probably broke ground on more houses in April, rebounding from a five-month low and indicating the industry is stabilizing, economists said. Starts climbed 4.7 percent to a 685,000 annual rate, according to the median estimate of 80 economists surveyed by Bloomberg News.
Building permits, a proxy for future construction, may have dropped for the first time this year. Industrial production rose in April, a Federal Reserve report is projected to show………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
U.S. builders started construction of new homes in April at a slightly faster pace, extending their best stretch of business in almost four years, according to data released on Wednesday.
Housing starts rose 2.6% to an annual rate of 717,000 last month, compared to March’s sharply revised figure of 699,000, the Commerce Department said Wednesday.. Housing starts in March were originally reported at 654,000………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
Housing starts were surprisingly strong this week, while there was improving sentiment from home builders. So should we start to breathe a sigh of relief that the housing market is returning to health? The short answer is no.
The headlines say that housing is stabilizing and there are signs of life in the real estate sector. This is true but is only part of the story. Signs of life is far different than a return to healthier times………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
That’s how Time Magazine is describing the conclusions from a new report issued Tuesday by the Conference Board and Nielsen through their jointly-owned Demand Institute. Here are some excerpts form the report titled “The Shifting Nature of U.S. Housing Demand”:
“The worst is over for the U.S. housing market. After six years of declining sales and falling prices that wiped $7 trillion from the value of housing assets, a turning point has been reached. The Demand Institute sees average prices rising by up to 1 percent in the second half of 2012 (in seasonally adjusted terms), marking the start of a housing recovery………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
Data is not available, but interviews with more than 30 lenders, builders, Realtors and consumers suggest that a growing number of Americans are getting back into the housing market, even though they went through a foreclosure, bankruptcy or short sale in recent years.
“Most are not ashamed or bashful about what happened because so many people were forced into that reality in the last six years,” says Graham Epperson, vice president of sales in Arizona for the PulteGroup, a leading U.S. homebuilder………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
Home prices in Southern California climbed last month from a year earlier for the first time in 16 months as sales of distressed properties, which usually sell at a discount, dropped to the lowest level in four years.
The median paid for houses and condominiums was $290,000 in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties, up 3.6 percent from both March and a year earlier, San Diego-based data seller DataQuick said today in a statement. Last month’s median was the highest since December 2010, when it also was $290,000………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
Prime office rents fell by 0.3% in Q1 2012, according to the Jones Lang LaSalle European Office Index. This is the first overall recorded reduction in rents since Q4 2009.
The net reduction masked both rises and falls across several prime office rental markets. Falls were recorded in Brussels (-5.0%), Madrid (-1.9%), Barcelona (-1.4%) and Paris (-1.2%) whilst rental increases were recorded in Luxembourg (+5.3%), Stockholm (+2.4%) and Hamburg (+2.1%)………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
DTZ has downgraded its European real estate investment forecast for 2012 due to the ongoing deterioration in Europe’s economic outlook.
In its latest European Investment Market Update, the broker, part of Australian group UGL, said it expects volumes to shrink by 11% to EUR 100 bn this year from over EUR 110 bn in 2011 as uncertainty about economic prospects impacts on the commercial real estate market………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
Today’s average house price is 105 times higher than it was when the Queen was coronated in 1952 - making it seem as if we could all afford palaces now in comparison.
Climbing onto the property ladder required just £1,520 that year. And in the Silver Jubilee in 1977, the average price was still only £9,737 - today’s £160,000 average is 16 times higher than that………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
We build the tiniest new dwellings in Europe, and yet more storage and living space is what people desperately want. One left their kitchen bin in the middle of the kitchen, because there was nowhere else for it.
Another said their cupboards were so small they stored shopping in the boot of the car, while Miriam and Matt from Liverpool were so short of space they kept their vacuum cleaner at their mother’s house, a good 20-minute drive away………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
Central London offices, retail and industrial units remain the only areas of the UK commercial property market recording a positive growth in values, according to the IPD UK Monthly Index.
Despite London’s continuing growth, values for the UK market as a whole fell by a further -0.3%. This is the sixth consecutive month of negative growth for the UK property market, amounting to a cumulative -1.1% since November 2011. Overall, total return for April remained positive, at 0.2%………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
The property crash in Ireland has been followed by some recovery, but retailers believe that rental values are still too high and further improvements are being stalled.
At first glance, Poundland’s move into the Republic of Ireland seems to have been straightforward. It has rolled out 10 stores under the Dealz brand in six months and, as consumer spending is still tight, the market is crying out for value shops………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
It remains a challenging time for the real estate sector in Cairo amid on-going uncertainty, however clarity is slowly returning to the Egyptian property market, according to a report.
The general outlook continues to be cautious but optimistic on the long term fundamentals of the Cairo real estate market as demand exists across a number of sectors. However, much depends on the outcome of the current political process and the forthcoming Presidential elections, said property expert Jones Lang LaSalle (JLL) in its report………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
In a remarkable turnaround, the value of prime residential real estate in Dubai has risen 4 per cent in the first three months of 2012 becoming the fastest growing in the world.
In the latest Knight Frank Prime Global Cities Index, the destination in the United Arab Emirates (UAE) experienced a four per cent climb in property values in the first quarter - higher than any other city included in the study………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
Is it a blip or a bump? Analysts aren’t sure as they ponder the 42 percent drop in Asian commercial and industrial real estate in the first quarter. Hong Kong was the exception. Investments doubled in that market, according to Los Angeles-based CBRE.
The recent CBRE research covers investments closed on offices, retail complexes and industrial facilities. The total investment for the January-March period totaled $11.6 billion………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
The first quarter of 2012 has seen an average growth of one per cent in high end residential prices in eight of the key markets in Asia. Bangkok, Hong Kong, Kuala Lumpur and Jakarta’s market rose in the consecutive quarter of 2011-12, according to Jones Lang LaSalle’s recent Residential Index.
The strongest monitored property value, up 4.3 per cent in the first quarter of this year was Jakarta. They had a growth of around 16 per cent………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
Despite the market slowdown and high competitiveness among the ‘Big Boys’ in the Indian residential real estate business, smaller builders of residential projects can still corner a healthy market share. It is all a matter of knowing which league to play in, and how to play.
For starters, such developers should build at the best location within their means. Often, smaller builders do not have the luxury of picking and choosing locations for their projects………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
After having cooled down in recent months, the real estate market in China is showing signs of recovery, due to pent-up demand, encouraging measures by local governments and easing macroeconomic policy, analysts said.
“Buyers who need apartments for their own use and who have been waiting for the right time to purchase since last year have started buying, as many real estate developers have cut house prices by 10 to 20 percent over the past few months,” said Yin Bocheng, director of the real estate research center at Shanghai-based Fudan University………………………………………..Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
In September 2010, property company China Vanke told The Wall Street Journal that it had no plans to expand abroad. On Monday, it said it is taking a 74% stake in Hong Kong-listed Winsor Properties Holdings, which has residential, office and warehouse projects in Hong Kong and Singapore.
The new interest in markets outside China raises a question: Is Vanke hinting that its view of the domestic Chinese market is souring?……………………………………….Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
Security or crime issues top the list of concerns for prospective Singaporean buyers of Malaysian real estate, but the ability to flip an asset quickly is also a major consideration, according to PropertyGuru group chief executive Steve Melhuish.
Because many have made money flipping properties in Singapore’s dynamic property market, capital appreciation is also foremost to such buyers, who typically ask, “Can I make 20-30 per cent per annum in capital appreciation?”……………………………………….Full Article: Source
Posted on 17 May 2012 by Laxman | Email |Print
Housing sentiment has improved since last year’s floods, but demand has shifted to condominiums and locations near mass transit, say property developers and the Real Estate Information Center (REIC).
Kessara Thanyalakpark, director of the listed developer Sena Development Plc, said a survey taken at the 26th House & Condo Fair in March showed condominiums had gained in popularity post-flood………………………………………..Full Article: Source
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