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Real Estate Briefing - Archive | November, 2012

Chinese builders look to foreign shores

Posted on 26 November 2012 by Laxman  |  Email |Print

The cooling property market in China is likely to attract more of its construction firms to the UAE. Experts are warning that the appointment of the new Chinese premier Xi Jinping is unlikely to mean any significant loosening of the rules restricting property development in the country as China continues to focus on long-term economic reform.
During the past two years, China’s government has implemented a series of strict measures aimed at curbing rocketing home prices that, in 2009, rose in the country’s main cities by as much as 50 per cent. These include restricting mortgage finance and reducing developers’ access to debt………………………………………..Full Article: Source

Posh property expensive? It’s Hong Kong meting out justice

Posted on 26 November 2012 by Laxman  |  Email |Print

Let’s talk about pricey property in Hong Kong. At the latest official count, 765,000 flats in this city have an average monthly rent of about HK$1,200 apiece. Pricey? In fact, public housing tenants are effectively paid to occupy their homes. Management, maintenance and other costs amount to more than rental income.
The Housing Authority incurs a loss on rental operations despite having no land costs. Nonetheless, it has granted its tenants rent-free periods of at least two months a year for the last five years. ……………………………………….Full Article: Source

Manila rising, so are rents as confidence in Philippines grows

Posted on 26 November 2012 by Laxman  |  Email |Print

Manila’s changing skyline demonstrates a city coming up in the world. The capital of the Philippines is in the throes of a property boom described as the best in two decades, reflecting the increasing confidence in an economy that only recently began shedding its image as one of the region’s basket cases.
Nowhere is it more obvious than at Bonifacio Global City, a commercial and residential property development on a portion of land carved out from Manila’s biggest army base………………………………………..Full Article: Source

Australia: Wealthy investors paint town red and create a property boom

Posted on 26 November 2012 by Laxman  |  Email |Print

Cashed-up Asian investors are fuelling a mini property boom, ploughing billions of dollars into houses and apartments around the state. The wealthy investors from China, Hong Kong and Singapore are snapping up real estate in many of Sydney’s most desirable locations - from the central business district to waterfront properties and areas surrounding schools and universities.
Despite fears that foreign investors will push the price of housing out of reach of ordinary families, experts predict it will actually help the property market recover………………………………………..Full Article: Source

Australia: Lords of property confidence

Posted on 26 November 2012 by Laxman  |  Email |Print

More than three-quarters of landlords are feeling positive about their property investments despite falling prices. A new report by research group BDRC Jones Donald says 77 per cent are positive about their real estate investment and one in five plan to buy another property within 12-18 months.
The high level of confidence is “a surprise”, says BDRC Jones Donald managing director Roger Donbavand, who attributes it to rising rental incomes and low vacancy rates. “Those who increased rents last year are more likely to make further increases in the next six months,” he says………………………………………..Full Article: Source

Canada’s housing affordability rises in 3rd quarter

Posted on 23 November 2012 by Laxman  |  Email |Print

Falling home prices and an uptick in household income made Canadian home ownership slightly more affordable in the third quarter, but the longer-term trend is largely unchanged, according to a report by RBC Economics released on Thursday.
RBC, Canada’s largest bank and a huge mortgage lender, measured affordability as the percentage of monthly pre-tax income for a household needed to cover the typical costs of owning a home, including mortgage payments, utilities and property taxes………………………………………..Full Article: Source

Canada: Housing market correcting, not collapsing, says Rosenberg

Posted on 23 November 2012 by Laxman  |  Email |Print

The Canadian housing market may be correcting but not collapsing. In his Nov. 22 market report, Gluskin Sheff economist David Rosenberg draws attention to a Globe and Mail story, Drop in home prices spreads to Toronto,” specifically taking issue with the commentators calling for home prices to tumble by 25% or more.
It’s tough to see the housing market going into a tailspin, Rosenberg says, when the inventory backlog in the single-detached housing market is balanced and not excessive………………………………………..Full Article: Source

2012 proves to be a year of growth for the US property market

Posted on 23 November 2012 by Laxman  |  Email |Print

The good news for the American residential real estate market is continuing with two leading indices showing that sales and prices are still on an upward trend. National home values continued their year long climb in October, rising 1.1% from September to $155,400, according to the latest Zillow Home Value Index.
The monthly increase was the largest since August 2005, when home values rose 1.2% month on month, and is the 12th consecutive monthly increase. Annually, home values were up 4.7% from October 2011, the largest gain since September 2006………………………………………..Full Article: Source

U.S. housing market outlook 2013

Posted on 23 November 2012 by Laxman  |  Email |Print

One of the most often talked about parts of the economy is the real estate market sector. Because real estate is such a large and important part of the economy, naturally, many eyes are focused on whether or not this market sector can and will rebound from its deep decline.
While we have certainly seen a strong bounce off the bottom, there are still many concerns for the future of both the real estate market sector and housing stocks, specifically. Investors in housing stocks are definitely ahead of the curve, as many housing stocks have increased substantially. With gains in excess of 100%, the question on many people’s minds is: will the real estate market sector continue its upward trajectory, or are housing stocks teetering on the edge of a massive decline?……………………………………….Full Article: Source

US undergoing housing market recovery

Posted on 23 November 2012 by Laxman  |  Email |Print

The US is undergoing a housing market recovery, after nearly four years of falling prices. Reporting on Federal Housing Finance Agency figures, the Global Property Guide revealed that house prices are once again rising, with the index increasing 4.75 per cent during the year to August.
This is the largest annual growth recorded since September 2006, showing that real estate in the US is once again a stable property investment. Demand is also returning to the market, with residential sales increasing and construction activity gaining momentum………………………………………..Full Article: Source

American property market continues meteoric recovery

Posted on 23 November 2012 by Laxman  |  Email |Print

The American property market is continuing its meteoric rise from the ashes of depression to the clouds of happy dancing recovery as it sees one of the fastest and most definite turnarounds we have seen from the current crash.
Many had said that as American property market led the world into the crash that it would be the first to get back to business as normal, and while business as normal is a long way off yet, at the current pace it will indeed be the first to get back to normal runnings – in the western world anyway………………………………………..Full Article: Source

Is 2013 the year when everybody moves out of London?

Posted on 23 November 2012 by Laxman  |  Email |Print

James Mackenzie, head of Strutt & Parker’s Country Department, said: “There is a general murmur in the market place that there may never be a better time to move to the country in terms of value for money, and I believe next year we will see even more families flocking to the countryside, especially in commuter belt areas”.
A second prediction is for a continued decline of interest in refurbishment projects coupled with increasing concern about homes’ eco-friendly elements. “Environmentally friendly, modern homes that require no work are replacing the Old Rectory as the new ‘dream home’ as people’s priorities change,” said Mackenzie………………………………………..Full Article: Source

Italian luxury property market not affected by new real estate tax

Posted on 23 November 2012 by Laxman  |  Email |Print

Property buyers are more cautious when it comes to investing in Italian real estate due to the challenging financial outlook in the country. However, the wealthier individuals from across the world still believe that it is among the best hotspots for second homes.
Unlike some of the other European countries such as Spain, Italy has not experienced a real estate market bubble before the outbreak of the economic crisis in 2007. Although official reports suggest a 10.5 per cent drop since the peak prices in Q2 of 2008, real estate analysts say that prices have actually decreased by 30 per cent over the past five years………………………………………..Full Article: Source

Nordic property returns improve during third quarter - IPD

Posted on 23 November 2012 by Laxman  |  Email |Print

The IPD Nordic Quarterly Property Fund Index suggests returns from the assert class hit 1.9% through the period, up from 1.7% in the previous quarter.
Over a 12 month period, the index has returned 8.2%, IPD said, although some of this return is because of the ongoing depreciation of the euro versus local currencies………………………………………..Full Article: Source

Tanzania’s real estate sector grows

Posted on 23 November 2012 by Laxman  |  Email |Print

Even though Tanzanians have now taken a special liking to owning property, high prices and bank interest rates hinder them from achieving this goal, leaving the majority out.
“Currently, if one wants to own a good house in Tanzania, he should have at least Sh300 million,” said Mr Eddie Mkwaya, a property manager with JR Real Estates Agency in an interview with BusinessWeek recently………………………………………..Full Article: Source

Saudi studies Fannie Mae model laws for housing

Posted on 23 November 2012 by Laxman  |  Email |Print

Saudi Arabia is studying draft regulations that could see the creation of a real estate refinancing company similar to US firm Fannie Mae, according to proposals published by the central bank this week.
The regulations are part of long-awaited government efforts to develop a housing mortgage sector in the conservative kingdom where the restrictions of Sharia law have made it difficult to secure lending against property………………………………………..Full Article: Source

Mumbai records top growth in retail rentals globally

Posted on 23 November 2012 by Laxman  |  Email |Print

Mumbai has witnessed the highest growth in retail rentals globally with city’s Colaba Causeway recording 75 per cent jump in rental value over the last year, according to the report by property consultant Cushman & Wakefield.
Kolkata’s Park Street and Chennai’s Khader Niwaz Khan Road were at 5th and 10th positions, respectively, in the list of ‘Top 10 — Global Highest Retail Rental Growth Markets 2012’, C&W said in its report ‘Main Streets Across the World’……………………………………….Full Article: Source

Singapore: Private home market reaching equilibrium?

Posted on 23 November 2012 by Laxman  |  Email |Print

It has been a pulsating year for Singapore’s private housing sector, with homebuyers’ aspirations remaining firm even as prices and volumes defy conventional market cycles to hit record highs, but there are signs that the market is now heading towards equilibrium.
In today’s market, speculation no longer drives the property buyer following the implementation of sellers’ stamp duty in January last year for sales that take place within four years of the home purchase. The purchase decision largely comes from a desire to seek out investment opportunities and fulfil ownership aspirations………………………………………..Full Article: Source

Jakarta faces property price hike as expats allowed to buy homes

Posted on 23 November 2012 by Laxman  |  Email |Print

New rules allowing foreigners to own real estate could cause prices to rocket in the booming Indonesian capital of Jakarta. A change in property laws for foreigners in the Indonesian capital of Jakarta could see prices rocket.
Strong demand for rental property from expats has seen costs shoot up almost 15 per cent this year as expats head to Indonesia, which is enjoying a period of strong economic growth………………………………………..Full Article: Source

Focus: US housing

Posted on 22 November 2012 by Laxman  |  Email |Print

Housing starts in America rose by 3.6% to 894,000 in October, the highest in over four years, according to the Commerce Department. The rise in residential construction was widely unexpected; forecasters thought starts would fall after the 15% surge in September. New home building in the West increased by over 70% on a year earlier.
Single-family home starts fell slightly in October, but were up by 10% for buildings with five or more units. Homebuilding could add to GDP growth this year for the first time since 2005. Building permits (another leading indicator of consumer demand) in October were almost 30% higher than a year earlier—though were down by 2.7% on the previous month………………………………………..Full Article: Source

Why adjustable rates may save us in housing busts

Posted on 22 November 2012 by Laxman  |  Email |Print

This just in! Cutting a homeowner’s mortgage payment in half can reduce the likelihood of delinquency and foreclosure. That sounds like a no-brainer, but it’s a conclusion in a recent report by researchers at the Boston and New York branches of the Federal Reserve.
In fact, the question of what makes homeowners stop paying their mortgage — being unable to afford the payments or being too far underwater — has been a matter of some debate through the foreclosure crisis………………………………………..Full Article: Source

U.S. cities with the most vacant homes fiscal cliff: 5 items to watch out for

Posted on 22 November 2012 by Laxman  |  Email |Print

By now most of us are aware of the term “fiscal cliff.” The term refers to the economic mayhem that is expected if tax increases, spending cuts and the budget deficit rules go into effect in January 2013.
But while a fiscal cliff threatens the economy as a whole, real estate has its own fiscal cliff that’s quickly approaching. And unless certain rules, laws and programs are extended, we could see a huge falloff in the recovery of the housing market. Potential borrowers might want to get their transactions completed in front of those changes, since they might push rates and fees higher in their respective wakes………………………………………..Full Article: Source

U.S. cities with the most vacant homes

Posted on 22 November 2012 by Laxman  |  Email |Print

There may be plenty of signs that the housing market is recovering, but that doesn’t mean that there aren’t plenty of towns that are still hurting. Rising home prices and increasing sales aside, many cities are still overrun with vacant homes.
Though nationally the number of unoccupied homes decreased by 5 percent this year compared to last year, according to listing site Trulia, cities that continue to suffer from high unemployment, decreased population, high numbers of foreclosures and overbuilding are reeling in large numbers of vacant homes. And that can continue to tear at the local real estate markets………………………………………..Full Article: Source

Home values post 12 straight months of increases

Posted on 22 November 2012 by Laxman  |  Email |Print

National home values rose by 1.1% in October from September, the largest monthly gain in seven years, according to a report released Wednesday by Zillow, the online real-estate information company.
It’s the first time housing markets have posted 12 straight monthly gains in the Zillow survey since the housing sector’s long slide began in 2006. “We’ve reached a milestone,” said Stan Humphries, Zillow’s chief economist. All of the 30 largest metro areas tracked by Zillow posted gains in October from September except for Chicago………………………………………..Full Article: Source

Why home builders have been perking up

Posted on 22 November 2012 by Laxman  |  Email |Print

Sentiment, not to mention stock prices, of home builders are perking up, and they have good reason. The inventory of existing homes is at a 10-year low, according to data released Monday by the National Association of Realtors. At the current sales rate, inventories represent a 5.4-month supply, the leanest supply since 2006.
“Builders are reporting increasing demand for new homes as inventories of foreclosed and distressed properties begin to shrink in markets across the country,” said Barry Rutenberg, a Gainesville, Fla.-based home builder and chairman of the National Association of Home Builders……………………………………….Full Article: Source

Evidence of cooling Canadian housing market mounts in October industry data

Posted on 22 November 2012 by Laxman  |  Email |Print

There’s mounting evidence October was a weak month for sales of Canadian housing.A new monthly analysis by Teranet shows Canadian housing prices declined last month compared with September — only the third time in 13 years of data that there was a month-to-month decline in October.
The Teranet-National Bank National composite house price index, released Wednesday, said house prices were up an average of 3.4 per cent across Canada in October compared with a year ago………………………………………..Full Article: Source

Savills: Volume of high street investment deals in continental Europe causes yields to harden

Posted on 22 November 2012 by Laxman  |  Email |Print

According to research by international real estate advisor Savills, the number of high street investment deals has increased from less than 5% of total retail investment in 2007 to 37% in the first three quarters of 2012 in the top eight continental European markets. This has caused yields for high street investments to harden to 4.27%, which is the lowest they have been since 2007.
The research covers Belgium, Germany, France, Italy, The Netherlands, Spain, Sweden and Poland and shows that in total there has been a significant increase in high street investments since 2009, driven in particular by a jump in transactions in France and Germany in this sector, which account for 90% of the high street deals above €10 million in the survey area………………………………………..Full Article: Source

Ireland: Residential property prices drop by 12pct

Posted on 22 November 2012 by Laxman  |  Email |Print

Over the year to the end of September 2012 residential property prices fell by 12%, according to the latest Residential Property Price Index. Between April - June 2012 and July - September 2012 residential property prices fell by 1%.
Whilst prices are still falling the pace of decline is slowing, Q3 2012 had the lowest price fall (1%) since Q2 2010 (0%). Prices of residential property sold today are now just under half of their peak value (a 55% fall)………………………………………..Full Article: Source

Shine comes off Polish real estate

Posted on 22 November 2012 by Laxman  |  Email |Print

The allure of Poland, once a star performer among Europe’s real-estate markets, is beginning to fade. As broader fears about European economic growth linger, investors in the Central European market are becoming increasingly selective, favoring well-situated retail properties and office buildings in major cities such as Warsaw, rather than in regional cities that once were popular.
Overall commercial sales volumes in Poland totalled €1.15 billion ($1.47 billion) in the first three quarters of the year, compared with €1.87 billion during the same period in 2011, according to real-estate advisory firm Cushman & Wakefield Inc. Real-estate brokers and analysts expect year-end deal volumes to weaken, unless growth improves across the euro zone………………………………………..Full Article: Source

Affordable housing crucial to success of Saudi mortgage law

Posted on 22 November 2012 by Laxman  |  Email |Print

NCB Capital expects the impact of the Saudi mortgage law to have its full effect on home ownership only after the supply of housing becomes more affordable. In a commentary Wednesday a day after the Saudi central bank issued the draft regulations of the mortgage law, Mahmood Akbar, banking research analyst at NCB Capital, said “we believe the proposed law in its current form does not tackle a key underlying problem, lack of suitable and affordable housing.
Therefore, even if the process of mortgage lending was made easier through private property institutions, middle class borrowers will find a limited supply of suitable housing.”……………………………………….Full Article: Source

‘Day of reckoning’ looms for Asia’s priciest property markets

Posted on 22 November 2012 by Laxman  |  Email |Print

Weak economic growth, oversupply and measures to keep a lid on house prices suggest that Asia’s priciest property markets, Singapore and Hong Kong, now face a ‘day of reckoning’ after several years of robust gains, Nomura analysts warn.
Singapore property prices surged 50 percent between 2007 and 2011, driven partly by foreign buying. While developers reacted to the rise by ramping up homebuilding, the market now faces oversupply……………………………………….Full Article: Source

China property firms increase land holdings

Posted on 22 November 2012 by Laxman  |  Email |Print

At a time when local governments are eager to boost revenues, China’s major property developers have accelerated their land purchases amidst a cautious recovery in the real estate market.
The country’s top real estate firms led by China Vanke Co. Ltd. have taken advantage of low land prices and have broaden their land banks with about $1.34 billion (8.87 billion yuan) in first- and second-tier cities at the onset of the fourth quarter, official data from local governments showed………………………………………..Full Article: Source

Hong Kong property investors find new avenue to park their money

Posted on 22 November 2012 by Laxman  |  Email |Print

Hong Kong investors are snapping up car parking spaces, raising fears of a bubble after government moves to cool soaring property prices last month drove speculators to seek new options.
One investor had put a total price tag of HK$100 million on 34 parking spaces in a commercial building near Western, said Sean Tsoi, a dealer at property development and investment agency AGW Holdings Ltd, referring to an area just five minutes by car from the heart of Hong Kong’s financial district………………………………………..Full Article: Source

10 hottest property markets in the world

Posted on 21 November 2012 by Laxman  |  Email |Print

With the seismic shifts taking place in economies, power structures and societies around the world, a very different economic landscape is developing in which the rise of the emerging economies looks set to be a permanent feature. But what does this mean for the world’s global cities? Traditionally the likes of London and New York have reigned supreme, but will they be able to maintain their dominance in the face of growing competition?
Research by Knight Frank suggests that, for now at least, their position looks safe. Let’s take a look at some of the hottest property markets in the world, according to a recent report by Knight Frank………………………………………..Full Article: Source

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The 10 markets with the most empty homes

Posted on 21 November 2012 by Laxman  |  Email |Print

When you want to gauge the health of a housing market, your instinct may be to check housing prices, sales volume or possibly even foreclosure rates. But a less-watched indicator called vacancy rates speaks volumes about a housing market’s long-term condition.
A home that sits idle does not merely diminish the value of other homes on the market, it also discourages investment in an entire neighborhood. High home vacancy rates can be toxic to real estate prices……………………………………….Full Article: Source

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Housing starts in U.S. increase to four-year high

Posted on 21 November 2012 by Laxman  |  Email |Print

New-home construction unexpectedly climbed to a four-year high in October, more evidence of a revival in the industry that’s helping propel the U.S. economy. Housing starts rose 3.6 percent to a 894,000 annual rate, the fastest since July 2008 and exceeding all estimates in a Bloomberg survey, Commerce Department figures showed in Washington.
The median forecast of 82 economists called for an 840,000 pace. Permits for the construction of single-family homes also advanced to the highest in four years……………………………………….Full Article: Source

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U.S: Tight lending is choking nascent housing recovery

Posted on 21 November 2012 by Laxman  |  Email |Print

The housing recovery has achieved liftoff, but it won’t reach escape velocity until tight-fisted banks loosen tough lending standards put in place after the worst housing crisis since the Great Depression.
The latest signs of strength came from Tuesday’s numbers on housing starts for October, which hit the highest rate in more than four years. Construction began at a seasonally adjusted annual rate of 894,000 units — at 3.6 percent gain — to hit the highest level since July 2008 when the housing bust was in full swing……………………………………….Full Article: Source

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Another real estate bubble?

Posted on 21 November 2012 by Laxman  |  Email |Print

There are two forces that are giving the real estate market a false appearance of recovery today. They are the bulk investors and Ben Bernanke. Just imagine where the real estate market would be if either party were absent. Comparing the current condition to the subprime bubble, there are two similarities. The Federal Reserve is instrumental in starting the bubble while Wall Street provides the endless supply of air.
Under Bernanke, the Fed launched three rounds of ‘QE’ plus ‘Operation Twist’ in between. One of the objectives is to drive mortgage rates lower. In theory, that should stimulate housing……………………………………….Full Article: Source

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Million dollar homes across America 2012

Posted on 21 November 2012 by Laxman  |  Email |Print

How much can you get for $1 million in today’s real estate market? The answer, of course, varies depending on where you’re looking to buy.
In the wake of the U.S. housing crisis, consumer confidence and home values fell sharply, while prices in some cities are less than half of what they were in 2007. In many local markets, however, such as in New York; San Francisco; Anchorage, Alaska; and Omaha, Neb., people on the front lines are optimistic about a recovery in sales volumes, prices and buyer confidence……………………………………….Full Article: Source

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Colombia’s residential property market enjoying record pricing levels

Posted on 21 November 2012 by Laxman  |  Email |Print

The growth of Colombia’s real estate sector is having a strong impact on secondary housing markets. Following the rising price of new housing, used home (existing home sales) prices in Colombia have continued to increase and have now reached an historical high. According to a report by Portafolio, since the end of 2004 used housing prices have jumped 74%.
Housing demand in Colombia will likely remain strong given the current pace of the country’s economic growth and the general availability of financing. The Colombian economy is forecast to grow approximately 4.5% in 2012 and should grow more than at a healthy rate of 4% in 2013, particularly if the Central Bank does not raise the reference interest rate. ………………………………………Full Article: Source

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European high-street investment rockets

Posted on 21 November 2012 by Laxman  |  Email |Print

Europe’s main high streets have seen the number of investment deals increase from less than 5% of total retail property investment in 2007 to 37% in the first three quarters of 2012, Savills has said.
Savills’ latest retail real estate report traced the rise in the top eight Continental European markets. The rise in investment activity has caused yields for high street investments to harden to 4.27%, which is the lowest they have been since 2007……………………………………….Full Article: Source

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UK: FSA warns of fraud risks in quick property sales

Posted on 21 November 2012 by Laxman  |  Email |Print

The FSA has warned borrowers in financial difficulties who are looking to sell their home quickly to beware committing fraud. The regulator says it has evidence that some below market value or distressed property sales involve fraud, where the buyer - a company or an individual - asks the seller to state the property has been sold for full market value, rather than the agreed price.
The FSA says this is usually done so the buyer can borrow the full amount they have agreed to pay for the property, which would not happen in the current market as lenders require at least a 5 per cent deposit……………………………………….Full Article: Source

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London’s prime house prices continue to rise as sales fall

Posted on 21 November 2012 by Laxman  |  Email |Print

Prices in Prime London Central (PLC) have risen in value 3.7% in Q3 2012, bringing total price growth over the preceding 12 months to 15.3%.
However, the number of transactions have fallen by 9% in Q3 to just 5226 over the year. In Greater London, sales in the £2m - £5m sector have decreased by a staggering 53% as the effects of the new tax legislation begin to bite……………………………………….Full Article: Source

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Retail real estate market in Russia - sustainable growth in main regional cities

Posted on 21 November 2012 by Laxman  |  Email |Print

Cushman & Wakefield has published today “Retail Space Across Russia” – a report exploring retail real estate of the largest cities of Russia. “The economic situation is stable and the retail sector is one of the key drivers of the Russian economy” according to Cushman & Wakefield’s report launched at MAPIC.
The second edition of “Retail Space Across Russia”, following the first report published in 2010, explores the retail real estate market in 30 Russian cities, with information including retail trade turnover, shopping center supply, pipeline and presence of key international and Russian retail chains……………………………………….Full Article: Source

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Investors buy EUR 1bln of Russian property in Q3

Posted on 21 November 2012 by Laxman  |  Email |Print

Russian real estate investment volumes came to $1.3 bn (EUR 1 bn) in the third quarter of 2012, according to new research by property adviser CBRE.
The result is 11% down year-on-year, but just 3% compared to Q2 2012. Cumulative amount of investments has reached $2.85 bn since the beginning of the year……………………………………….Full Article: Source

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Dubai’s property outstrips London’s

Posted on 21 November 2012 by Laxman  |  Email |Print

Villa prices in prime parts of Dubai rose by 19.9 per cent over the first nine months of 2012 - the second-highest rate globally - compared to just 10 per cent in prime areas of central London, according to Knight Frank.
The difference was attributed to the recovery in Dubai’s property market and tax changes in the UK having made the UAE more attractive for investors. Dubai came 17th place in Knight Frank’s 2011 rankings, having recorded a 0.3 per cent fall in prices. The recovery in the local property market this year saw it shoot up the table to second place with 19.9 per cent price rises……………………………………….Full Article: Source

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Asian REITs a better bet than stocks, says report

Posted on 21 November 2012 by Laxman  |  Email |Print

Asian real estate investment trusts (reits) should be an essential component in a retail investor’s portfolio, says a report by the Asia Pacific Real Estate Association (APREA).
The region’s reits provide investors with a liquid and high-quality real estate investment opportunity to access the dynamics of the Asian real estate markets in listed real estate investment products, the report noted……………………………………….Full Article: Source

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Investment in real estate can give upto 145pct returns: Survey

Posted on 21 November 2012 by Laxman  |  Email |Print

The real estate sector will continue to remain an attractive investment destination with the possibility of prices in residential areas appreciating by 91 to 145 per cent in select cities over the next five years, a survey said.
In a first of its kind report prepared by Knight Frank, a real estate advisory firm, high possible return on investments ranging between 18.6 percent and 29 percent per annum over the next five years will emerge as a key driver for investors’ interest in the sector……………………………………….Full Article: Source

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China: Tight controls vital for a healthy housing market

Posted on 21 November 2012 by Laxman  |  Email |Print

Five large real estate enterprises in China invested 11.05 billion yuan ($1.75 billion) to bid for land from Nov 13 to 15, reports say. But with the final price fetched for some land being 44 percent higher than the bid price it would appear that a new round of price hikes is just around the corner.
The phenomenon is caused by different factors. The Chinese economy is expected to enter a new phase, with property developers feeling the authorities will loosen controls. Some local governments are also eager to increase their revenues from land transfers, to relieve their debt burden……………………………………….Full Article: Source

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Inventory may hold back prices of mainland real estate

Posted on 21 November 2012 by Laxman  |  Email |Print

Increased property sales, stabilising home prices, and aggressive land purchases by major developers all point to a positive outlook for the mainland real estate market, say property analysts.
But beneath the surface, they warn, lurks a hidden worry - sizeable inventories - which could emerge to derail improving sentiment next year. According to a report from Nomura Equity Research released on Monday, month-to-date aggregate property sales were up 108 per cent year on year in 10 major mainland cities tracked, including Beijing, Shanghai, Guangzhou and Shenzhen……………………………………….Full Article: Source

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November 2012
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