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Real Estate Briefing - Archive | September, 2012

Pending sales of existing homes in U.S. fell 2.6pct in August

Posted on 28 September 2012 by Laxman  |  Email |Print

Tom PorcelliAmericans signed fewer contracts than forecast to purchase previously owned homes in August, showing the recovery in the housing market will be uneven.
The index of pending home resales dropped 2.6 percent after a revised 2.6 percent gain in July that was more than initially reported, figures from the National Association of Realtors showed today in Washington. The reading compared with a median forecast of a 0.3 percent gain in a Bloomberg survey of 40 economists………………………………………..Full Article: Source

U.S. housing market comes out of the woods

Posted on 28 September 2012 by Laxman  |  Email |Print

After sinking for six awful years, the U.S. housing market finally has bounced off the bedrock: Sales are up, prices have stabilized, more homeowners are keeping up with their mortgage payments. A huge weight on the economic recovery is slowly lifting.
In recent days, reports have shown home prices starting to rise. On Tuesday came news that the S&P/Case-Shiller home-price index climbed in July, the fourth straight monthly improvement. Prices in the Chicago area rose 2.7 percent in July, better than the 1.6 percent national gain. At the same time, homebuilders have announced stronger earnings based on increased demand for new housing………………………………………..Full Article: Source

QE3 won’t do ‘much at all’ for real estate: Citi Exec

Posted on 28 September 2012 by Laxman  |  Email |Print

The mortgage bond-buying spree the Federal Reserve is expected to embark upon won’t do “very much at all” to boost a housing market that only recently began to pull out of depression territory, a top Citigroup executive said Thursday.
Markets observers have debated whether the Fed’s quantitative easing, or QE3, will have a meaningful impact on a faltering U.S. economy………………………………………..Full Article: Source

Winners and losers in Chicago housing market

Posted on 28 September 2012 by Laxman  |  Email |Print

Even if the real estate market were in Armageddon mode, many real estate industry types could still be expected to give you an enthusiastic “yes!” if you asked them, “Is now a good time to sell my house?”
But given the near-avalanche of somewhat positive housing sales data reported lately, even a cynical real estate writer starts to wonder if we’re finally seeing a sign from the housing gods that the moment for sellers to put their houses on the market finally has arrived, especially with reports of a relatively tight supply of houses………………………………………..Full Article: Source

3 positive housing indicators offset by 3 worries

Posted on 28 September 2012 by Laxman  |  Email |Print

There’s been a spate of signs that the U.S. housing market may have finally turned around. But for every piece of good news, there seems to be something bigger holding it back.
U.S. home prices in July rose from the previous month, marking the third month in a row that a closely watched index measuring the health of the housing market saw positive changes………………………………………..Full Article: Source

No large pop for Toronto real-estate market, observers say

Posted on 28 September 2012 by Laxman  |  Email |Print

Reader and housing market veteran Brian Knapp wrote me this week to say that he thinks the real estate market in Toronto is deflating.
Mr. Knapp’s opinion is based on his experience from buying three properties over a span of more than 20 years. He still spends about 15 hours a week looking at real estate online………………………………………..Full Article: Source

UK developers benefit from depressed land values

Posted on 28 September 2012 by Laxman  |  Email |Print

House prices are falling, mortgage lending is stagnant and the economy is in recession for the second time in three years - yet housebuilders are reporting record increases in profits and their share prices are up 50 per cent in the year to date.
Crest Nicholson, which suffered badly during the global financial crisis, is poised to relist on the stock market; while Redrow, another of the worst hit, could be taken private by its founder Steve Morgan………………………………………..Full Article: Source

Italian investors increase appetite for real estate

Posted on 28 September 2012 by Laxman  |  Email |Print

Italian institutional investors are set to increase their commitments to real estate from 6.9% to 7.5%. Half of these investments are expected to be allocated indirectly with potentially €10.7 billion of new investments going to non-listed real estate funds, according to new research by the European Association for Investors in Nonlisted Real Estate Vehicles (INREV).
The Investor Universe Italy Survey 2012, says total real estate investments amount to around €38.5 billion or 6.9% of the total investable universe in Italy………………………………………..Full Article: Source

Cyprus property prices drop by 5.9pct in Q2

Posted on 28 September 2012 by Laxman  |  Email |Print

Prices for residential real estate in Cyprus fell by 5.9 per cent in the second quarter, the steepest decline in two years. Figures from Cyprus Central Bank show house prices declined by 5.9 per cent compared with the same period in 2011, while apartment values dropped by 5.1 per cent. Prices fell by 2.2 per cent from their levels in the first three months of the year.
The steepest decreases were seen in the Famagusta region, where drops of 4.4 and 3.7 per cent were registered for houses and apartments respectively………………………………………..Full Article: Source

Abu Dhabi’s property market awaits the turnaround

Posted on 28 September 2012 by Laxman  |  Email |Print

It is no secret that Dubai’s residential market is starting to move into positive territory, with the second quarter of 2012 witnessing rental increases of approximately 2 and 5 per cent for apartments and villas respectively.
However, Abu Dhabi remains a different story. During the second quarter, rents fell by between 3 and 5 per cent compared to the first quarter and by 15 to 25 per cent compared to the same period in 2011………………………………………..Full Article: Source

Kolkata: Residential market demand rises in affordable segment; tanks at high-end

Posted on 28 September 2012 by Laxman  |  Email |Print

A dip in the number of new launches in Kolkata’s residential market last fiscal has has not affected demand for the affordable and mid-segment housing here.
Maintaining its positive outlook for Kolkata’s residential market for the coming quarters of 2012-13, real estate advisory firm Knight Frank has maintained that prices are expected to remain stable with demand being truncated because of cautious consumer sentiments………………………………………..Full Article: Source

‘No signs of overheating’ in Chinese housing market

Posted on 28 September 2012 by Laxman  |  Email |Print

China has sufficient land supply for residential projects and there are no signs of the market overheating, the Shanghai Securities News reported yesterday, citing an unnamed official from the Ministry of Land and Resources.
While the pace of land transactions has picked up in the last two months, the base prices and premiums have been in line with general trends, said the official………………………………………..Full Article: Source

Beijing’s home trading volume to Q3 passed the volume of last year

Posted on 28 September 2012 by Laxman  |  Email |Print

According to Beijing Urban Construction Commission, up to September 25th, 75775 suits of commercial homes have been sold, which has surpassed the whole trading volume of 72007 suits last year.
“Purchasing quota” has been deemed as the most strict home policy of the government. The property market in 2011 was hurt hard by the quota. Local media reported that 72007 suits of homes was only 10,000 suits more than the lowest sales in the year 2008, and less than half of the sales in the year 2009………………………………………..Full Article: Source

Singapore: Industrial property prices expected to rise in Q3

Posted on 28 September 2012 by Laxman  |  Email |Print

The Urban Redevelopment Authority’s (URA) Price Index for industrial properties is expected to register an increase of about nine per cent in the third quarter. This is according to analysts ahead of flash estimates to be released by the URA on Monday.
While price increases are set to moderate, there are concerns that the uptrend in industrial property prices may spur policy changes to cool the market………………………………………..Full Article: Source

Japanese property assets on the investor radar

Posted on 28 September 2012 by Laxman  |  Email |Print

Sparx Group Co., a Japanese asset management company, will start a fund that will invest in the nation’s residential properties after receiving money from a sovereign wealth fund in the Middle East.
Sparx will start the fund with AD Investment Management Co., which manages a real estate investment trust, with initial capital of about 9 billion yen (Dh425 million, $116 million), said Sparx CEO Shuhei Abe. The fund, which will last for five years, has a maximum capacity of 40 billion yen and will invest in six apartment developments in Tokyo and Nagoya………………………………………..Full Article: Source

US: New-home sales fall, but prices jump

Posted on 27 September 2012 by Laxman  |  Email |Print

Sales of newly built homes in the U.S. fell slightly in August, but prices posted their largest increase since late 2004. Sales of new single-family homes decreased 0.3% last month from July to a seasonally adjusted annual rate of 373,000, the Commerce Department said Wednesday. July’s revised rate of 374,000 homes sold was the highest since April 2010.
The August results were below expectations. Economists surveyed by Dow Jones Newswires expected an annual sales rate of 380,000………………………………………..Full Article: Source

Reports show housing market continues to improve

Posted on 27 September 2012 by Laxman  |  Email |Print

The housing market is improving, say many real estate professionals, and reports tracking the trends and statistics in the housing market comparing August 2012 data with August 2011 data, seem to support that optimism.
With Maryland positioned in the middle corridor between New York City and Washington, D.C., location, location, location, continues to have a tremendous influence on specific performance in certain real estate markets. But how can the average person make sense of these numbers?……………………………………….Full Article: Source

How the housing recovery will take shape in coming months

Posted on 27 September 2012 by Laxman  |  Email |Print

More good news on the home front. The latest S&P/Case-Shiller Home Price Index indicates that home prices gained 1.6% in July compared to a year earlier. Every city tracked in the 20-City Composite has seen prices rise for three straight months and 16 of the 20 cities saw year-over-year increases.
“The positive news in both the monthly and annual rates of change in home prices over the past few months signals a possible recovery in the housing market,” noted David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, in a statement………………………………………..Full Article: Source

Slowly rising U.S. house prices positive for U.S. economy

Posted on 27 September 2012 by Laxman  |  Email |Print

The Case-Shiller Home Price Index (HPI) of 20 metro areas rose 0.4% in July, marking the sixth consecutive monthly increase. An alternate price measure such as the CoreLogic Home Price Index shows almost a similar trend.
However, it should be noted that these gains are occurring from extraordinarily low levels (see chart below) and the underlying trend is one of slight deceleration, which reduces the optimism rendered by the headline, somewhat………………………………………..Full Article: Source

Why the housing market is poised to enter a ‘virtuous cycle’

Posted on 27 September 2012 by Laxman  |  Email |Print

By the less-demanding standards of the past few years, the latest housing figures, like many from recent months, look pretty good. On September 25, the Standard & Poor’s Case-Shiller Home Price Index showed a 1.2% price gain in July compared to a year earlier. Prices have risen for three consecutive months.
The National Association of Realtors (NAR) reported on September 26 that sales of existing homes had risen by 9.3% in August, compared to a year earlier, and that the median price of existing homes sold was up 9.5% over the past year. (NAR and Case-Shiller use different methodologies.)……………………………………….Full Article: Source

Housing economists hate the MID

Posted on 27 September 2012 by Laxman  |  Email |Print

The latest quarterly survey of housing economists and experts, which generally focuses on economic issues like price expectations, came up with a surprising result. As the final days of the Presidential and Congressional elections draw near, most participants said they would be happy to get rid of the crown jewel of housing policy, the mortgage interest deduction.
More than half of respondents in the September 2012 Zillow Home Price Expectations Survey, want to eliminate the mortgage interest tax deduction. Some 50 percent said it should be phased out gradually and 10 percent want it cut as soon as possible. Thirty percent said the deduction should have more eligibility restrictions placed on it, while 11 percent believe it should remain as-is………………………………………..Full Article: Source

Opportunity knocks for sale-and-leasebacks in Eastern Europe: Colliers

Posted on 27 September 2012 by Laxman  |  Email |Print

Sale-and-leaseback transactions account for only 4.5% of all reported investment transactions in Eastern Europe since 2007, less than half the average for the rest of Europe which is put at 10%, according to research from Colliers International.
However, the potential scope for SLB activity in the region is enormous, the adviser claims in a report entitled ‘market for sale and leasebacks’. Citing a research study produced by Hordijk & Ahlqvist in 2004, the adviser points out that corporate entities hold roughly 83% of the commercial property market in Europe………………………………………..Full Article: Source

‘Slotting’ will force further depress UK property market: IPD

Posted on 27 September 2012 by Laxman  |  Email |Print

The introduction of the ’slotting’ regime in the UK will force further de-leveraging of banks’ property loan books, according to a study by IPD. The result will be more forced property sales that will further depress the property market, thus creating a vicious cycle of further losses in loans secured by commercial property.
The findings are based on a study into the effects of slotting, a practice designed to ensure banks have enough funds set aside to cover losses on property lending………………………………………..Full Article: Source

Central London residential property prices continue to rise

Posted on 27 September 2012 by Laxman  |  Email |Print

London’s upmarket residential property prices saw a further increase in September, showing a 51% increase since the low points of March 2008. But tax modifications have affected some sector of the market, with the sales in the £2 million to £5 million segment falling 20% in the quarter to September compared with the same period last year.
According to Knight Frank index for September 2012, the average prime property values in central London now stand at a new record high, some 15% above the pre-property crisis peak of March 2008. Despite the impact of the March budget’s 40% rise in the top rate of stamp duty together, there has been a growth in prices, according to Liam Bailey, head of Knight Frank’s head of residential research………………………………………..Full Article: Source

Ireland: Property prices increase for second month

Posted on 27 September 2012 by Laxman  |  Email |Print

Residential property prices in the Republic increased for the second consecutive month in August sparking hopes that the market may be stabilising, although the yearly declines still remain precipitous.
The latest figures from the Central Statistics Office show that residential house prices increased by 0.5 per cent in August compared with a 0.2 per cent rise in July. However, figures also show that prices across the State have fallen 12 per cent over the last year. The CSO figures, now widely considered to be the benchmark of property prices in the Republic, are based on mortgages, but do not take into account cash transactions………………………………………..Full Article: Source

Spain’s boom-era building gear sold as developers cut off

Posted on 27 September 2012 by Laxman  |  Email |Print

Angel Fernandez used to travel to the Netherlands to buy equipment for Spanish homebuilders when they were powering Europe’s third-biggest construction market. Now he watches as buyers come to take diggers, excavators and trucks to countries where they won’t just gather dust.
Standing in a sunburned field in Ocana, a 90-minute drive south of Madrid, 41-year-old Fernandez looks on as never-used construction equipment is sold at discounts of as much as 20 percent through Ritchie Bros. Auctioneers Inc………………………………………..Full Article: Source

Why Istanbul property could be the next big thing

Posted on 27 September 2012 by Laxman  |  Email |Print

The trend is unmistakeable and undeniable; around the world primary cities such as London, New York, Paris, Beijing, Singapore and Hong Kong are becoming centres of wealth and prosperity. Their economies and property markets are performing much better than other regions and even other cities in their respective countries.
Globalisation and safe-havenism are playing a big part in this. These cities are attracting the world’s wealthiest individuals to come and buy property, they are attracting the biggest and best companies, which in turn makes them very attractive to the best workers looking for the best jobs………………………………………..Full Article: Source

Prices of houses in Kenya rise sharply

Posted on 27 September 2012 by Laxman  |  Email |Print

Prices of houses in Kenya are on steep rise as the real estate sector develops rapidly and developers seek higher returns on their investments. The cost of two, three and four bedroom houses, which are popular with most Kenyan families, have skyrocketed in the past months.
Data from various real estate and housing development firms indicate that a two bedroom house in the East African nation is going for between 44,048 U.S. dollars and 90,000 dollars. About three years ago, a two bedroom house in the East African nation would go for between 35,714 dollars and 60,000 dollars………………………………………..Full Article: Source

Agents bullish on Dubai market

Posted on 27 September 2012 by Laxman  |  Email |Print

Property agency Hamptons MENA said that the number of deals it concluded in the first half of 2012 more than doubled compared with 2011. The company said the number of transactions increased by over 106% on the same period last year, with transactions in Dubai’s property market increasing by 69%.
The firm’s head of operations, Niraj Masand, said: “The growth trends recorded by Hamptons MENA are a strong demonstration of the rising market confidence in Dubai’s property sector. The increase in number of buyers, compared with the number of sellers, throughout the year also highlights that the demand-side is stronger, which will have a further positive impact on prices………………………………………..Full Article: Source

Hong Kong home prices set to rise

Posted on 27 September 2012 by Laxman  |  Email |Print

Hong Kong home prices are expected to rise 5 percent as a result of quantitative easing measures rolled out by the US, real estate consultancy Colliers International said in a report on Wednesday.
By virtue of a correlation between US bond yields and Hong Kong residential property prices, a 2 percent rise in the Chinese territory’s residential prices is anticipated for every 10 basis point reduction in US bond yields, the report said………………………………………..Full Article: Source

Australia: House prices surge in September

Posted on 27 September 2012 by Laxman  |  Email |Print

Home values across Australia’s five largest capital cities are officially up 0.4 per cent for the nine months to September 26 – the first time prices have been above their end-2011 levels this year – based on the latest data from RP Data-Rismark.
What is most remarkable, however, is the stunning improvement in Australian housing conditions since a mini-slump in mid-April, and the even more striking surge over the month of September………………………………………..Full Article: Source

Why Australian property prices are set to drop

Posted on 27 September 2012 by Laxman  |  Email |Print

A leading international strategist believes that property prices in Australia will continue to fall over the next two years. Investec Asset Management strategist Michael Power says that while property prices in the country have fallen by six per cent since 2010, they could fall by up to a total of 20 per cent by 2014.
If you’re looking to buy property in Australia, you could snap up a cheaper home over the next 18 months. Power, the South African based strategist, said: “We’re not seeing anything like the US, Irish or Spanish property bust here. But I think over the next 18 months it could go down by double digits, 12 or even 15 (per cent). A 15 to 20 per cent (fall) would be my outside downside over the entire period.”……………………………………….Full Article: Source

US: Housing market displays new vigor as prices rise

Posted on 26 September 2012 by Laxman  |  Email |Print

Home prices notched their strongest year-to-date gains since 2005, climbing 5.9% through July and signaling the housing market’s steady trudge toward recovery. The rising prices in Tuesday’s Standard & Poor’s/Case-Shiller 20-city index could play a pivotal role in changing consumer sentiment toward housing and drawing in buyers from the sidelines.
Another lure: Mortgage rates are falling to record lows after the Federal Reserve resumed buying mortgage-backed securities two weeks ago, helping to offset rising prices………………………………………..Full Article: Source

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Property: Confidence at six-year high in US

Posted on 26 September 2012 by Laxman  |  Email |Print

US home prices rose for a sixth straight month in July while a jump in consumer confidence has led economists to believe that, six years after its collapse, the housing market has turned the corner.
With Americans reportedly ready to loosen their spending, the S&P/Case Shiller composite index of 20 metropolitan areas rose 0.4 per cent in July on a seasonally adjusted basis………………………………………..Full Article: Source

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Home prices rise again, this time on the low end

Posted on 26 September 2012 by Laxman  |  Email |Print

The housing market continues to gather strength, and the biggest gains in price now appear to be among the least expensive homes, whose values fell the most in the downturn and have weighed against any would-be recovery.
Over all, the Standard & Poor’s Case-Shiller index showed an annual gain of 1.2 percent in the price of single-family homes across 20 cities in July, according to data released Tuesday. In addition, all 20 cities showed price increases from the previous month, the third monthly gain in a row, supporting the idea that the nation’s housing market has bottomed out and, some analysts said, contributing to an unexpected bump in consumer confidence………………………………………..Full Article: Source

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Is housing risen from ashes? ‘Industry has come back’

Posted on 26 September 2012 by Laxman  |  Email |Print

Economists are saying it, and now even some Americans are saying it. After falling to depths not seen since the Great Depression, the U.S. housing market may finally be rising from the ashes.
It may not seem like a lot, but 27 percent of Americans believe the value of their homes will increase in the next year, according the CNBC All America Economic Survey. That is the highest percentage since 2007 and the third straight quarter that such optimism has gained………………………………………..Full Article: Source

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Housing was at the root of the great depression, too

Posted on 26 September 2012 by Laxman  |  Email |Print

The U.S. economy slips into recession. The stock market takes a tumble as heady expectations for future growth cool. Interest rates fall as the Federal Reserve quickly trims the discount rate in hope of cushioning the business cycle.
The low interest rate environment sets off a massive wave of home construction and an asset bubble in real estate. By the time the Federal Reserve takes action, the boom is completely out of control. Bank balance sheets and household savings have become dependent on the profound mispricing of real estate and other equity holdings………………………………………..Full Article: Source

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Survivors enjoy the house party

Posted on 26 September 2012 by Laxman  |  Email |Print

Even amid a clear improvement in the U.S. housing market, the strength of home builders’ recent results has been remarkable. Consider Lennar. For the quarter ended in August, it said it delivered 3,655 homes, up 28% from a year earlier.
Orders rose 44% to 4,198 homes, while the company’s backlog grew 79% to 4,513. In one sign of just how sharp the turn of fortunes in the sector has been, the company noted in its earnings conference call that in some markets, it is seeing labor shortages………………………………………..Full Article: Source

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More buyers choose conventional over FHA loans

Posted on 26 September 2012 by Laxman  |  Email |Print

The use of mortgage financing in the housing market jumped sharply in the month of August, but the use of FHA financing declined, suggesting the government program is losing favor and private lenders are gaining market share.
“Conventional mortgages are making a comeback while FHA mortgages are not,” commented Thomas Popik, research director for Campbell Surveys………………………………………..Full Article: Source

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The pros and cons of rental real estate

Posted on 26 September 2012 by Laxman  |  Email |Print

We retirees know we don’t get any interest income from our bank deposits. And who can blame us if we don’t trust Wall Street enough to invest our hard-earned savings in the stock market? Therefore, owning and renting real estate may be an investment option that looks more and more appealing to people no longer working.
If you play it right, you can generate a regular, unending stream of extra monthly income. And we all know one thing: Rents never go anywhere but up………………………………………..Full Article: Source

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Student apartments top European property deal ranking

Posted on 26 September 2012 by Laxman  |  Email |Print

Dutch pension giant PGGM’s recent acquisition of a majority stake in a student beds provider illustrates how institutional investors are willing to take large bets on niche real estate sectors to access stable income streams.
The transaction was the largest single real estate-related transaction recorded by PropertyEU Research from 1 July to mid-September………………………………………..Full Article: Source

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UK property market ‘lacks rental statistics’

Posted on 26 September 2012 by Laxman  |  Email |Print

There is a lack of statistics relating to rental properties in the UK property market, a leading expert has warned. The country’s senior statistician, Jil Matheson, said the absence of an official private rental index covering the whole of the UK represents a “key gap” in analysis of the property market.
She also believes that more could be done to link up official data from a wide range of bodies so that rental trends in the buy to let market can be more easily identified………………………………………..Full Article: Source

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Wealthy Asians eye London’s commercial real estate market

Posted on 26 September 2012 by Laxman  |  Email |Print

Wealthy Asians are seen as a leading source of capital flowing into London’s commercial real-estate market, according to Alistair Meadows, head of Asia Pacific International Capital Group at Jones Lang LaSalle.
Asian investors have been increasing their investment in central London, especially in the commercial real-estate market, according to the firm. It is reported that the percentage of Asian investors increased from 6 percent in 2010 to more than 20 percent in the first half of 2012………………………………………..Full Article: Source

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Germany to see surge of distressed sales, says Corestate

Posted on 26 September 2012 by Laxman  |  Email |Print

Over the next two years, Germany is likely to see a surge in the sale of distressed real estate assets both in number and in transaction volumes with financial experts anticipating a heightened willingness from banks to dispose of distressed real estate loans.
According to Corestate and EBS-REMI’s latest survey, which was sent to nearly 50 executives in the banking sector, banks are expected to pursue a more cautious approach and demand increased debt servicing obligations from their borrowers………………………………………..Full Article: Source

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Cyprus: Property price drop reaches two-year high

Posted on 26 September 2012 by Laxman  |  Email |Print

Cyprus residential prices in the second quarter of 2012 marked the steepest decline since 2010 Central Bank of Cyprus (CBC) figures released today show. The CBC estimates that the correction path on property prices that began in the third quarter of 2008, will continue in the short-term.
The Residential Property Prices Index (houses and apartments) complied by the CBC for Q2 2012 to 90.3 units recording a decline of 2% compared to Q1 2012. Year on year Property Price Index marked a reduction of 5.9% which is biggest annual reduction in the last two years. Houses prices marked an annual decline of 6.5% and apartment prices a decline of 5.1%………………………………………..Full Article: Source

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Property slump reshapes list of China’s richest

Posted on 26 September 2012 by Laxman  |  Email |Print

Many of China’s richest citizens have seen their wealth shrink this year amid slowing growth and a weakening property market that has shifted wealth patterns in the world’s second-largest economy.
Nearly 50% of China’s top 1,000 wealthiest citizens have faced financial losses this year, with the average wealth falling 9% to $860 million from a year earlier, according to a new ranking of China’s richest from Hurun Report, a Shanghai-based group that follows wealth trends in the country. Thirty-seven of China’s richest have lost as much as half of their wealth and the number of dollar billionaires dropped to 251, 20 fewer than a year earlier, the report said………………………………………..Full Article: Source

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Singapore: Landed homes help heat up property market

Posted on 26 September 2012 by Laxman  |  Email |Print

The property market is building up steam again after a flat few months, with landed homes leading the charge. Average resale prices of freehold landed homes in the prime districts rose 1.2 per cent this quarter, a touch up on the 1 per cent rise in the previous three months.
Suburban landed home prices gained 2.4 per cent, doubling the 1.2 per cent rise in the second quarter, with semi-detached and terrace home prices showing the way, according to an analysis by consultancy DTZ……………………………………….Full Article: Source

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Foreign investors return to Tokyo property market

Posted on 26 September 2012 by Laxman  |  Email |Print

Hungry for yield and a safe haven amid Europe’s woes, foreign investors are returning to an asset they once shunned: Tokyo property. Investors from Singapore state-investment firm Temasek Holdings Pte. Ltd. to Goldman Sachs Group Inc.are hoping Tokyo office rents, which have fallen for four years on the back of the global financial crisis, will rise as vacancy levels drop.
“We are positive about the Tokyo market,” said Ian Hally, chief executive of Asia Pacific real estate at Aviva Investors, the fund unit of U.K. insurer Aviva PLC………………………………………..Full Article: Source

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Australia: Spring thaw for the housing market?

Posted on 26 September 2012 by Laxman  |  Email |Print

Recent weeks have seen a firming in Australian house prices and related indices, hinting at a spring rebound for property. Is this happening and is it sustainable? In Australia, there are two key official sources of housing finance statistics.
One is the Reserve Bank of Australia credit aggregates statistics, which provides owner-occupied and investor mortgage data at the national level. And the other is Australian Bureau of Statistics housing finance statistics, which provides detailed information on the number and value of housing finance commitments at national and state levels, as well as information on average loan sizes and first home buyer activity………………………………………..Full Article: Source

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Housing market cool down widespread across Canada

Posted on 25 September 2012 by Laxman  |  Email |Print

Canada’s housing market appears to be cooling across the board in the face of tighter mortgage rules that affect many first-time buyers of modest means.
The think-tank’s snapshot of resales for August shows a widespread decline in sales of existing homes, with 21 of 28 metropolitan markets registering a drop from July, and 16 of the markets showing a falloff of five per cent or more. As well, listings fell in 17 of the 28 markets, an indication that owners were reluctant to place their homes for sale due to soft conditions………………………………………..Full Article: Source

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