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Real Estate Briefing - Archive | August, 2012

Could housing fall off the fiscal cliff?

Posted on 31 August 2012 by Laxman  |  Email |Print

Economists have focused primarily on the impact to overall gross domestic product (GDP), the financial markets, and businesses’ bottom lines. But what about housing? The fragile sector is just starting to experience a nascent recovery, providing what countless economists have called a “bright spot” in an otherwise weak economy. How could a looming cliff affect the sector that triggered the Great Recession in the first place?
“Most consumers aren’t paying attention to the fiscal cliff. If the [local] housing affordability condition is good and they can get a mortgage, they are in the market,” says Lawrence Yun, chief economist of the National Association of Realtors (NAR)………………………………………..Full Article: Source

Commercial real estate market holds steady, improves: Fed

Posted on 31 August 2012 by Laxman  |  Email |Print

In its most current analysis, the Federal Reserve Board said commercial real estate market conditions have held steady or improved in nearly all 12 of its districts in recent weeks. According to the Fed’s Beige Book released Wednesday, on the residential side, all of the districts cited increases in home sales, home prices or housing construction. Reports on commercial real estate markets were also generally positive, the report showed.
Atlanta, Boston, Chicago, Cleveland, Dallas, Kansas City, Minneapolis, New York, Philadelphia, Richmond, Va., San Francisco and St. Louis make up the Fed’s12 districts………………………………………..Full Article: Source

Distressed home prices jump with inventory shrinking

Posted on 31 August 2012 by Laxman  |  Email |Print

Demand for distressed properties is driving up prices for the first time in two years as investors from Blackstone Group LP (BX) to Colony Capital LLC chase shrinking inventory.
The average sales price on homes in the process of foreclosure or already owned by banks rose 7 percent in the second quarter from a year earlier, the biggest annual increase since 2006, RealtyTrac Inc. reported today. The number of those deals dropped 22 percent, the most since 2010, the Irvine, California-based data provider said in a statement………………………………………..Full Article: Source

Housing market showing further signs of recovery

Posted on 31 August 2012 by Laxman  |  Email |Print

The housing recovery is gathering strength as another data release shows further gains. The National Association of Realtors reported that Pending Sales of Previously Owned Homes rebounded in July.
The Pending Sales of Previously Owned Homes Index, which gathers information from houses under contract as reported by multiple listing services and large real estate brokers, surged 2.4% last month. This increase, which surpassed expectations of a 1.0% gain, follows a June decline of 1.4%. July’s number brings the year-over-year growth to 15.0% for this index on a seasonally-adjusted basis………………………………………..Full Article: Source

JLL: Location dominant driver on European office real estate, but quality is gaining ground

Posted on 31 August 2012 by Laxman  |  Email |Print

Location will remain the most important factor when investors and occupiers make decisions about office space, according to Jones Lang LaSalle Offices 2020 research.
Whilst cost and the quality of available space are rapidly rising up the agenda, location will continue to outweigh these concerns and become even more important. We expect to see rental premiums for location of up to 70% commonplace in many Western European countries………………………………………..Full Article: Source

U.K. mortgage approvals increased in July from 18-month low

Posted on 31 August 2012 by Laxman  |  Email |Print

U.K. mortgage approvals rose in July from an 18-month low the previous month when an extra public holiday slowed housing activity.
Lenders granted 47,312 loans to buy homes, compared with 44,124 in June, the Bank of England said today in London. Economists predicted approvals would rise to 47,000, based on the median of 16 estimates in Bloomberg News survey. The total remains below the average for the previous six months of 50,729………………………………………..Full Article: Source

Irish property prices post second monthly rise

Posted on 31 August 2012 by Laxman  |  Email |Print

Irish house prices grew for just the second time in five years in July, rekindling hopes that the market may be bottoming out after a slump of as much as 50 percent.
Irish property prices have fallen 50 percent peak to trough in the past four years after a property bubble burst spectacularly, leaving banks with huge losses and homeowners with hefty mortgage repayments………………………………………..Full Article: Source

Savills: Dublin industrial takes surprising upswing in H1 2012

Posted on 31 August 2012 by Laxman  |  Email |Print

According to the latest Dublin industrial research report from international real estate advisor Savills, the city saw take-up reach just under 91,000 m² in H1 2012, which is a significant increase on the same period in 2011 and already represents over 60% of last year’s total take-up of 148,000 m².
The firm also notes that Q2 2012 take-up levels reached 67,000 m², which is a considerable rise on the Q1 2012 figure of 24,000 m², and expects overall industrial take-up in Dublin to reach between 150,000 m² and 175,000 m² by the end of the year………………………………………..Full Article: Source

Residential and commercial property prices in Malta

Posted on 31 August 2012 by Laxman  |  Email |Print

During the past decade, many countries have experienced rapid, highly volatile increases in house and commercial property prices. In the aftermath of the financial and economic crisis of 2007, property market conditions around the world are increasingly being seen as a potential source of economic risk which, if not addressed appropriately, could destabilise financial markets and economic conditions.
An analysis of the property scene is essential both from an economic stability perspective and also from the social perspective of housing affordability………………………………………..Full Article: Source

Indian property market hits the speed bumps

Posted on 31 August 2012 by Laxman  |  Email |Print

Growth in India’s property market is expected to fall to less than 5 per cent over the next 12 months compared with an annual rate of 17 per cent since 2007, according to Jones Lang LaSalle Inc, the property consultant.
“The Asia-Pacific property market has paused, and the outlook for India will depend on its political, monetary and regulatory environment,” said Colin Dyer, president and global CEO of Jones Lang LaSalle………………………………………..Full Article: Source

Hyderabad realty market sees lower absorption

Posted on 31 August 2012 by Laxman  |  Email |Print

The Hyderabad real estate market saw launch of 6,000 residential units, about 45-50 per cent lower than the actual capacity, according to consultancy Knight Frank.
In its report, the consultancy finds that the residential market sentiments in Hyderabad have improved considerably over first quarter of FY13 after a relatively subdued phase last fiscal………………………………………..Full Article: Source

China: Realty market attracting less foreign investment

Posted on 31 August 2012 by Laxman  |  Email |Print

While foreign investment in China’s realty market has been shrinking, foreign investors are seeking other ways to invest in projects in the country, analysts said.
Investment in realty developments in China has seen a significant change since the beginning of the year. Of the 5.08 trillion yuan ($800 billion) invested in realty development in China between January and July, only 22.8 billion yuan of that was foreign funds, a 54.3 percent year-on-year decrease, according to the National Bureau of Statistics………………………………………..Full Article: Source

China: Residents worried about recent surge in local home prices

Posted on 31 August 2012 by Laxman  |  Email |Print

Home prices are always a concern for the public, and the property prices’ surge in recent months has attracted the government’s attention with the market expecting new government measures to help cool down the market.
The Centa-City Leading Index (CCL), which tracks the city’s used home prices, has climbed for four consecutive weeks to a record high of 107.18 on August 24, overshooting the previous peak recorded in 1997 by 7.18 percentage points. The index has surged 13 percent from its recent low in March………………………………………..Full Article: Source

Official calls for careful review of property curbs

Posted on 31 August 2012 by Laxman  |  Email |Print

As the domestic-property market enters a critical phase, it’s important to make sure all tightening measures are in place, an official from the Ministry of Housing and Urban-Rural Development said.
“It’s time to review the effect of the property-tightening policies and find out what to do next,” said Wang Juelin, deputy director of the policy research center under the ministry………………………………………..Full Article: Source

New Hong Kong leader unveils housing policy

Posted on 31 August 2012 by Laxman  |  Email |Print

Govt to speed up home sales and land supply to stabilize market. Ten new measures, including one banning out-of-town buyers from buying property in some local housing projects were unveiled by the government on Thursday.
The new policies follow closely the release of a survey showing that over 90 percent of city residents say that home prices have become too high to afford. The government is setting out plans for a significant increase in housing supply in the city, including the release of enough land to allow for 65,000 new residential units over the next three to four years, Chief Executive Leung Chun-ying said at a briefing on Thursday………………………………………..Full Article: Source

Hong Kong to boost home sales, favor locals as prices surge

Posted on 31 August 2012 by Laxman  |  Email |Print

Hong Kong will boost the supply of homes and give preference to local buyers as it seeks to cool housing prices that have surged to the world’s most expensive, fueled by record-low interest rates and Chinese investment.
Chief Executive Leung Chun-ying announced a 10-point package yesterday that included speeding up the approval of permits for private project sales, selling public units that were originally intended for rent, and drafting policies that will give preference to local buyers………………………………………..Full Article: Source

Singapore: Resilient housing rentals but for how long?

Posted on 31 August 2012 by Laxman  |  Email |Print

The private housing rental market may have achieved a record last month when the combined value of the 4,717 leasing contracts signed hit S$24.5 million, but early signs of “ghost towns” are emerging with the number of vacant apartments surging in the past 18 months.
The previous dollar value record of S$24.4 million was achieved exactly a year ago - in July 2011. However, in terms of the number of leasing contracts transacted, last year’s number was higher with 4,752 leasing deals closed for that month………………………………………..Full Article: Source

Australia: House prices continue to confound

Posted on 31 August 2012 by Laxman  |  Email |Print

Next week we will be inundated with a raft of new economic data that will supply valuable insights into how Australia’s economy is travelling. I want to preview this and sketch out the direction in which house prices, in particular, might head.
On Monday we get July’s retail trade and both job ads and house prices for August. On Wednesday the ABS will publish the second-quarter GDP numbers and associated National Accounts. Of course, we also have the RBA’s board meeting on the day prior. Absent some remarks about the “high” currency and the low probability of a cataclysm intervening in the interim, September’s meeting should be a non-event……………………………………….Full Article: Source

Melbourne hasn’t seen worst of lower home prices as glut builds

Posted on 31 August 2012 by Laxman  |  Email |Print

Melbourne, where home prices have fallen more than in any other major Australian city, may see further declines as a record number of new developments approved in the boom years hit the market.
Home values in the capital of Victoria state lost 6.6 percent in the year ended in June, the biggest drop among the eight state capitals, according to researcher RP Data. Building work started on a record 47,293 homes in Melbourne in the 12 months ended June 2011, compared with estimated demand of 32,334, according to figures from researcher BIS Shrapnel………………………………………..Full Article: Source

Realtors’ pending home sales index shows a healthy market

Posted on 30 August 2012 by Laxman  |  Email |Print

Americans signed more contracts to buy homes in July than at any time in the last two years, further evidence of a housing recovery. The National Association of Realtors said Wednesday that its index of sales agreements for previously occupied homes jumped 2.4% in July to 101.7. That’s higher than June’s 99.3. It’s also the highest reading since April 2010, last month that buyers could qualify for a federal home-buying tax credit.
A reading of 100 is considered healthy. The index is 12.4% higher than July 2011. It bottomed at 75.88 in June 2010 after the tax credit expired………………………………………..Full Article: Source

US: Is real estate rebound for real?

Posted on 30 August 2012 by Laxman  |  Email |Print

Wouldn’t seem to be much for the real estate bears to growl about right now, with all the key numbers pointing up. Certainly latest piece market reports, both local and national, can’t be simply brushed aside as a fluke or self-serving propaganda by real estate boosters.
July homes sales were the best since 2005, soaring nearly 27 percent, The Warren Group, publisher of Banker & Tradesman, reports this morning. The Massachusetts Association of Realtors reported a similar 22.7 percent jump in July sales in its monthly report………………………………………..Full Article: Source

Home sales hit 2-year high. Is the housing market back?

Posted on 30 August 2012 by Laxman  |  Email |Print

Home sales agreements for previously occupied homes jumped 2.4 percent in July, the National Association of Realtors said Wednesday. The increase is the latest sign that the home sales are finally rebounding five years after the housing bubble burst.
Americans signed the most contracts to buy homes in July than at any other point in the last two years, further evidence of a housing recovery………………………………………..Full Article: Source

Housing market on the upswing, but New York lags behind

Posted on 30 August 2012 by Laxman  |  Email |Print

The country’s beleaguered housing market is finally turning the corner - though the New York area appears to be lagging behind. The closely watched S&P/Case-Shiller Index of property values in 20 cities rose 0.5% in June compared with June 2011, its first gain since September 2010.
But the New York metro area was among just six of 20 metro areas where prices fell, dropping by 2.1% compared with last year. When compared with May, New York area prices rose 2.1%………………………………………..Full Article: Source

How to decide if a home is right for you

Posted on 30 August 2012 by Laxman  |  Email |Print

Picking out a new house can be exciting and terrifying at the same time. How do you choose the best location? What if the house has problems you can’t afford to fix? What’s the tiebreaker if you love two places equally?
The first and only way to begin the decision-making process is to grab your calculator. A dream home becomes a nightmare the moment you can’t afford it. “As you calculate, look beyond the listing price,” says Steve Jones, associate broker of Crawford Olson Real Estate in McCall, Idaho. Here’s why: A house with a vaulted ceiling costs more to heat than one with a low ceiling……………………………………….Full Article: Source

Canada housing market supported by fundamentals -CMHC

Posted on 30 August 2012 by Laxman  |  Email |Print

The Canadian government’s housing agency signaled on Wednesday that it is not concerned about a housing bubble forming, declaring that the market is supported by fundamentals.
“Overall, Canadian housing markets are supported by economic and demographic fundamentals; however, CMHC (Canada Mortgage and Housing Corp) continues to closely monitor activity,” the agency said in its second-quarter financial report………………………………………..Full Article: Source

REITs coming to market even if nobody else is

Posted on 30 August 2012 by Laxman  |  Email |Print

If Canada’s IPO market is in the doldrums, the REIT sector doesn’t know anything about it. Nor do the small band of lawyers practising in the area.
On Aug. 8, HealthLease Properties Real Estate Investment Trust rang the opening bell on the TSX to signal the launch of Canada’s largest IPO this year. The IPO was also Canada’s first “pure play” REIT in the seniors housing sector………………………………………..Full Article: Source

UK: Rise in foreign landlords is ‘crowding out first-time buyers’

Posted on 30 August 2012 by Laxman  |  Email |Print

An influx of foreign investors is driving a resurgence in Britain’s buy-to-let market, holding house prices steady but threatening to push up rents and crowd out first-time buyers.
The Bank of England stated: “Foreign investors [have] branched out of commercial property in the capital and begun also to invest in the London residential lettings market.”……………………………………….Full Article: Source

London house price rise masks stagnating UK property market

Posted on 30 August 2012 by Laxman  |  Email |Print

House prices across England and Wales increased last month according to the Land Registry, but London pushed up average prices as much of the rest of the country saw falls.
The average house price in England and Wales rose from £167,777 to £162,900 last month, an increase of 0.8 per cent and an annual rise of 0.3 per cent. In London, prices have risen by 6.5 per cent since last year. The average price in London is now £367,785, an increase of 2.7 per cent in July………………………………………..Full Article: Source

Savills: Dublin industrial takes surprising upswing in H1 2012

Posted on 30 August 2012 by Laxman  |  Email |Print

According to the latest Dublin industrial research report from international real estate advisor Savills, the city saw take-up reach just under 91,000 m² in H1 2012, which is a significant increase on the same period in 2011 and already represents over 60% of last year’s total take-up of 148,000 m².
The firm also notes that Q2 2012 take-up levels reached 67,000 m², which is a considerable rise on the Q1 2012 figure of 24,000 m², and expects overall industrial take-up in Dublin to reach between 150,000 m² and 175,000 m² by the end of the year………………………………………..Full Article: Source

France’s ANF Immobilier in talks to sell $1 bln of property

Posted on 30 August 2012 by Laxman  |  Email |Print

French property group ANF Immobilier said on Wednesday it was in exclusive talks to sell almost half of its 1.7 billion euro (1.3 billion pounds) property portfolio to two bidders, including Britain’s Grosvenor Group.
The company, which is majority-owned by French investment group Eurazeo, owns shops, offices and homes in downtown Lyon and Marseilles and a portfolio of 168 hotels in France. It said the offers from the two parties totalled 816.6 million euros………………………………………..Full Article: Source

German property at turning point, says top manager

Posted on 30 August 2012 by Laxman  |  Email |Print

Following a series of liquidations and increased regulation, German property funds can now expect a revival driven by new demand from institutional investors, said Ulrich Steinmetz, managing director at Deutsche Bank’s property group RREEF.
The most recent casualty in a series of property fund liquidations is the HANSAimmobilia fund which announced its liquidation last week citing increased regulatory risks, investor outflows and a worsening image of the asset class. The fund had seen its assets half over four years to €268 million………………………………………..Full Article: Source

Property prices rise in Austria

Posted on 30 August 2012 by Laxman  |  Email |Print

The prices for houses and apartments in Austria have risen once again in the first half of 2012 compared to 2011 prices. Vienna saw significant rises in certain parts of the city and areas of Lower Austria such as St Pölten and Krems also saw rises.
There are also significant differences in prices in different provinces for example property costs on average 3,000 Euro per square metre in Mödling but only 590 Euro per square metre in Waidhofen an der Thaya in Lower Austria………………………………………..Full Article: Source

Expats “not to blame” for Geneva housing bubble

Posted on 30 August 2012 by Laxman  |  Email |Print

A study by the Avenir Suisse think tank says structural problems like inflexible cantonal laws, not the growth in the number of expatriate workers, are to blame for the local housing problems in Geneva.
According to the new report entitled “A home-made shortage,” the chronic lack of real estate in the city cannot be explained by demand, such as recent large inflows of foreign workers active in commodity trading, banking or the many multinationals present in the region………………………………………..Full Article: Source

Portuguese construction sector in crisis

Posted on 30 August 2012 by Laxman  |  Email |Print

Since the beginning of the year, 868 companies disappeared and the construction sector is currently losing 90 jobs per hour. Unemployment in construction hit a new record high in 2012.
The Portuguese Federation of Construction Industry and Public Works, FEPICOP, says in a statement that, since the beginning of the year until the end of July, 868 construction companies closed. 60% more than in the same period of last year………………………………………..Full Article: Source

Poland: Demand for modern offices on the rise

Posted on 30 August 2012 by Laxman  |  Email |Print

The Polish office property market is booming, with 1 million square meters of new office space under construction nationwide. Around 900,000 sq m of new office space came onstream last year. Statistics for 2012 show that, in the nine fastest-growing cities in Poland, the office property market is doing well, with demand still at a relatively high level.
In the first quarter of this year, 225,000 sq m of new space was constructed. The growing demand for offices is accompanied by economic growth, strong exports, a continually high level of consumption in Poland, and expansion of transport infrastructure………………………………………..Full Article: Source

Baltic real estate: Bounce or bubble?

Posted on 30 August 2012 by Laxman  |  Email |Print

Of all the real estate bubbles to go pop in recent years, none did so more spectacularly than the one in the Baltic states during the 2008 financial crisis. Property prices halved in many cases, and some bruised investors swore never to touch Baltic real estate again. But never is a long time when there is money to be made.
The announcement on August 27 that the biggest IPO on the Baltic bourses in five years will come from a real estate company looks set to test whether investors are ready to believe Baltic realty can be anything other than boom-and-bust………………………………………..Full Article: Source

Spanish government moves to improve rental market

Posted on 30 August 2012 by Laxman  |  Email |Print

The Spanish government is due to introduce new legislation designed to make owning rental properties in the country more attractive to landlords.
Under the measures that were put in front of parliament on Friday (August 24th), landlords will be able to evict non-paying tenants much more quickly. Currently, Spanish law favours the renter, which means few real estate investors are keen to enter the country’s rental market………………………………………..Full Article: Source

Unemployment hit Israel’s property market

Posted on 30 August 2012 by Laxman  |  Email |Print

The slowdown in Israel’s housing market is mainly due to rising unemployment, says “Global Property Guide” in its survey for the second quarter of 2012. It also cites “steps taken by the government and the Bank of Israel, and to domestic social unrest over the rising cost of living. In addition, worsening global economic uncertainty has not helped.”
Israel is ranked 22nd out of the 38 countries reviewed in the current survey. “In Israel, the average price of owner-occupied housing dropped 1.52% year-on-year in the second quarter………………………………………..Full Article: Source

Dubai’s most popular residential areas for rent in H1 2012

Posted on 30 August 2012 by Laxman  |  Email |Print

New Dubai scores high when it comes to the most sought-after residential communities in the city this year, according to real estate agencies.
According to Better Homes , Dubai Marina beats all other communities when it comes to rent. “The most popular residential areas in leasing for the first half of this year was Dubai Marina,” Annetta Shaw, Head of Residential Sales and Leasing, Head Office, Better Homes said………………………………………..Full Article: Source

China to continue home price controls

Posted on 30 August 2012 by Laxman  |  Email |Print

A senior official on Wednesday vowed to prevent rebounds in property prices in the second half of the year. “We will stabilize control measures to curb speculation and increase housing supplies, especially small- and mid-sized housing”, said Zhang Ping, head of the National Development and Reform Commission, in a report delivered at an ongoing bimonthly session of the national legislature.
The country’s tightened property controls have seen some results, as average home prices in 58 out of a statistical pool of 70 cities dropped in July, Zhang said………………………………………..Full Article: Source

Perth office market to outshine nation - CBRE

Posted on 30 August 2012 by Laxman  |  Email |Print

Perth is tipped to have the strongest rental growth in the nation’s office property market over the next five years but it won’t reach pre-GFC levels, a new report shows. Real estate giant CBRE today released its growth projections for the office market space and said it was hard to see new demand growing back to historical averages.
“The ‘GFC’ has been long and protracted and the longer term consequence of this is softer nominal growth, credit growth running at significantly lower rates, lower balance sheet and revenue growth,” the company said………………………………………..Full Article: Source

Growing concern over high property prices in new zealand

Posted on 30 August 2012 by Laxman  |  Email |Print

It’s a problem that would currently be welcomed by many countries, but New Zealand is concerned over rising property prices and feels those who can afford a home may be forced to spend much of their income doing so, while those who are unable to afford a home may consider moving overseas.
The median house price in New Zealand has hit an all-time high of NZ$372,000 which is 6% more than before the global financial crisis, and is more than double compared to a decade ago. This median price is now around five times the median household income, and in Auckland median prices are around NZ$500,000, nearly 10 times the average annual wage of NZ$53,000………………………………………..Full Article: Source

US: Hottest and coldest housing markets

Posted on 29 August 2012 by Laxman  |  Email |Print

U.S. home prices rose in June from the same month last year, according to the Standard & Poor’s/Case-Shiller home price index released Tuesday. Steady increases have contributed to a housing recovery that began earlier this year. And most markets are being affected by foreclosures.
Bank-owned homes typically sell at a sharp discount, weighing down the values of nearby homes. In markets where the supply of bank-owned homes for sale has declined, investors and other buyers will often drive up prices on the few properties that hit the market………………………………………..Full Article: Source

Home values rise In U.S. for first time since 2010: Economy

Posted on 29 August 2012 by Laxman  |  Email |Print

Mohamed El-ErianHome prices in 20 U.S. cities climbed in June for the first time since a tax credit boosted sales in 2010, indicating the industry at the heart of the worst recession in the post-World War II era is starting to rebound.
The S&P/Case-Shiller index increased 0.5 percent from June 2011 after falling 0.7 percent in the year to May, a report from the group showed today in New York. The last 12-month increase took place in September 2010. Nationally, prices jumped last quarter by the most in more than six years………………………………………..Full Article: Source

Housing market continues to heal as home prices rise again

Posted on 29 August 2012 by Laxman  |  Email |Print

It’s a steep upward climb, but home prices continue to gain ground, according to the widely followed S&P/Case-Shiller Home Price Indices released Tuesday.
Nationally, property values inched up more than 1 percent in the second quarter, while both the 10- and 20-city composites the indices track saw month-over-month gains of more than 2 percent. It’s the first time all three readings showed positive annual growth since 2010………………………………………..Full Article: Source

What housing recovery? Distressed sales still high, shadow inventory massive

Posted on 29 August 2012 by Laxman  |  Email |Print

Housing markets seemed to have turned a corner, with Tuesday’s Case-Shiller data adding to the optimism. Home prices have risen for a second consecutive month for the first time since the summer of 2010, but much of this is a consequence of the falling percentage of distressed sales, while prices are still more than 31% of their peaks and may take years to recover.
With 11.4 million, or 23.7%, of all residential properties with a mortgage under water, and a shadow inventory worth $246 billion, according to CoreLogic, a true housing recovery is far away………………………………………..Full Article: Source

Industrial property in Europe develops as investor favorite

Posted on 29 August 2012 by Laxman  |  Email |Print

Some of the most sought-after commercial real estate in Europe these days is also the most unglamorous: warehouses and industrial space.
Although values of industrial properties have been slower to recover in recent years than office buildings, shopping malls and other commercial-property types, investors are attracted to industrial buildings because the rent paid by tenants has been stable, thanks to long-term leases, and that produces strong income for owners………………………………………..Full Article: Source

Europe: Development finance to remain limited until 2017: JLL

Posted on 29 August 2012 by Laxman  |  Email |Print

With equity players and sources of debt finance targeting the same prime office buildings and lower-risk lending, normal speculative development completion patterns are not likely to return to Europe for the next five years, according to the latest research from Jones Lang LaSalle.
This will starve many core European markets of good-quality office space and exacerbate value polarisation between grades of stock. This is not just the case for major office hubs such as London and Paris, but also other key cities across Europe. For example, Warsaw and Lyon are forecast to see overall vacancy levels drop below 6% by 2016, with prime CBD supply much lower………………………………………..Full Article: Source

UK: Why housing associations should build commercial property

Posted on 29 August 2012 by Laxman  |  Email |Print

Social housing and care providers are at a crossroads – without grant funding they must take a slice of the property market for themselves. Gone are the “good old days” when the path ahead was obvious.
While we used to be sheltered from market risks and business perils by generous funding arrangements and a healthy dose of benign regulation, these have now been taken away and we must to step forward and accept responsibility for determining our own destiny………………………………………..Full Article: Source

Ugly no barrier for apartment sales in German boom: Mortgages

Posted on 29 August 2012 by Laxman  |  Email |Print

With small windows, low ceilings and drab facades, the concrete apartment blocks favored by East Germany’s communist regime are known as Plattenbauten for their prefabricated panel construction. Now they are hot properties, caught up in a German real estate boom driven by foreign investors seeking a safe place to put their money.
A sale of 38,000 Dresden apartments owned by Fortress Investment Group LLC (FIG), many in the socialist-era estates, may be Germany’s next big residential deal after firms including New York-based Blackstone Group LP (BX) and Cerberus Capital Management LP made purchases that included Plattenbauten this year………………………………………..Full Article: Source

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