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Real Estate Briefing - Archive | January, 2013

Here comes the housing boom — Or not?

Posted on 29 January 2013 by Laxman  |  Email |Print

The housing recovery is happening…and it’s benefits are spreading. That is what we read in the Wall Street Journal on Monday morning, see “Housing Recovery Opens Spigot.” “The U. S. housing recovery is starting to show up in corporate results,” the article begins.
Good news! But, apparently, not everything connected with housing is a ready-made “slam dunk.” Brett Arends, cautioned us last Saturday in the Wall Street Journal that “Housing is Back–But Housing Stocks Are Due for a Fall.”……………………………………….Full Article: Source

European property investment beats 2007 in Q4

Posted on 29 January 2013 by Laxman  |  Email |Print

Trading activity in European commercial property rallied in late 2012 as the market stabilised after its mid-year malaise to post the highest level of quarterly trading since 2007. In the final quarter alone, investment volume totalled €43.7 bn, according to the latest data from property consultants Cushman & Wakefield.
Whilst the year ended only marginally - or 1.5% - up on 2011 with total volumes reaching €133.8 bn, the report predicts that recovery in the sector will start to gain momentum in 2013………………………………………..Full Article: Source

U.K: House prices flat in January but agents more upbeat about gains this year as lending scheme kicks in

Posted on 29 January 2013 by Laxman  |  Email |Print

A large majority of estate agents were upbeat about the outlook of the property market thanks to a better mortgage situation, a survey has found. Property website Hometrack said 79 per cent of estate agents were more optimistic about the housing market the coming year than they were 12 months ago as they believed the number of sales will pick up fro current levels.
The study, which asked around 6,000 estate agents and surveyors about achievable selling prices in their area, found that house prices were flat month-on-month across England and Wales in January following six months of falls………………………………………..Full Article: Source

Home truths: How the housing market is threatening affordable workspaces

Posted on 29 January 2013 by Laxman  |  Email |Print

A worrying new law means offices can be turned into residential buildings without planning permission. Artists’ studios and creative start-ups will be the first to go. Last week Eric Pickles finally rubber-stamped a plan that has long been mooted as an obvious salve to the housing crisis. We have acres of empty offices, a blight of vacant blocks in our cities – so why not turn them into homes?
With office vacancy rates as high as 20% in some regions (a result of oversupply and changing requirements in the downturn) while the urgent demand for housing continues to rise, it seems the perfect solution………………………………………..Full Article: Source

Swiss fear housing market correction

Posted on 29 January 2013 by Laxman  |  Email |Print

Last summer, Switzerland became the first major financial centre to introduce rules that would force banks to build up their capital reserves should parts of the economy start growing too fast. With the Alpine state’s housing market in overdrive, speculation is growing that it could also become the first to implement them.
“We don’t have a bubble in the way that Spain or Ireland did, with double digit price increases year after year. But we have had a boom for 15 years, and at some point things become unsustainable and you get a correction,” says Claudio Saputelli, an economist at UBS………………………………………..Full Article: Source

UAE property prices at pre-crisis level - Al Ghurair

Posted on 29 January 2013 by Laxman  |  Email |Print

UAE property values have returned to their pre-crisis levels and in many cases have climbed higher, Emirates Banks Association (EBA) chairman Abdul Aziz Al Ghurair said. Real estate prices started to rebound last year after Dubai suffered one of the world’s worst property market crashes following the 2008-09 credit crisis.
Al Ghurair said the recovery had helped to limit banks’ losses to an average 0.15 to 0.20 percent of the industry’s total home loan book. “That’s healthy,” he said. “Mortgage lending has been low risk so far………………………………………..Full Article: Source

Dubai property price increases to continue in 2013: report

Posted on 29 January 2013 by Laxman  |  Email |Print

Stock-listed developers in Dubai jumped in value Sunday on a report released by property services company Asteco that prices in the villa and apartment segment would extend the positive momentum from last year into the first half of 2013.
According to the report, shares of the United Arab Emirates ( UAE) biggest developer Emaar Properties surged to a three-year high on Sunday, closing up 3.57 percent at 4.64 Dirham (1.26 U.S. dollars)………………………………………..Full Article: Source

India’s booming land values spark family feuds

Posted on 29 January 2013 by Laxman  |  Email |Print

The dramatic rise in the value of land in India has resulted in a growing number of families of Indian origin returning from the UK to cash in on their inheritances. But many discover that the land is either sold, occupied or disputed - resulting in bitter feuds and lengthy legal battles.
At his home in the English city of Wolverhampton, Iqbal Singh pores over a thick pile of court papers, the result of 16 years of legal wrangling in the Indian courts. He has inherited a legal battle to reclaim his parents’ farmland in the rural Indian state of Punjab………………………………………..Full Article: Source

China underestimated house price growth in Beijing, Shanghai

Posted on 29 January 2013 by Laxman  |  Email |Print

It’s clear Chinese property prices skyrocketed over the past decade. But for some key cities, they may have risen even faster than the Chinese’s government’s most liberal estimates.
That’s the conclusion of economists Yongheng Deng, Joseph Gyourko and Jing Wu in a National Bureau of Economic Research working paper that analyzes Chinese housing and land prices………………………………………..Full Article: Source

Vanke boss sees bubble in spike

Posted on 29 January 2013 by Laxman  |  Email |Print

China Vanke chairman Wang Shi said mainland home prices are high and he sees bubbles forming. “The bubble must be controlled, or both the real estate market and domestic economy will be jeopardized,” the boss of the world’s largest developer by turnover warned.
However, he does not think any bubbles are “set to burst” any time soon because home prices in first and second-tier cities have been under control since 2010, when Beijing executed a series of cooling policies………………………………………..Full Article: Source

Singapore’s GIC invests in $1.6 bln UK property fund

Posted on 29 January 2013 by Laxman  |  Email |Print

Singapore’s sovereign wealth fund has backed a 1 billion pound lending programme for British offices, shops and warehouse property that could bring much-needed funds into a debt-starved sector.
The Government of Singapore Investment Corporation GIC.UL, one of the world’s largest sovereign wealth funds, will underwrite the loans to be issued by commercial mortgage provider Laxfield Capital………………………………………..Full Article: Source

Malaysian property prices to remain steady in 2013

Posted on 29 January 2013 by Laxman  |  Email |Print

Property prices in Malaysia will remain steady in 2013 as competition between developers intensifies, according to a recent report by Hong Leong Investment Bank (HLIB). Developers will need to be more selective of new projects, reported HLIB.
HLIB regard landbank location as the market’s key driver, and identify Glomac Bhd as the developer to watch. Glomac Bhd’s flagship Lakeside development at Puchong puts them in a prime position, as the development offers a combination of value at 4.9 percent dividend yield and growth. However, the developer’s liquidity remains lacking, according to HLIB’s report………………………………………..Full Article: Source

Korea: Deregulation can save sluggish real estate market

Posted on 29 January 2013 by Laxman  |  Email |Print

The sluggish real estate market in Korea is bound to hurt the people`s livelihood since real estate comprises 70 percent of their assets. The number of apartment transactions has reached just 796 this month in Seoul, which is home to 10 million people or a fifth of the population.
The figure is just half the combined transactions made over the same period last year. Amid lackluster demand, apartment prices have plunged while rental fees have skyrocketed. Many who put up their homes for sale years ago are still waiting for buyers, while others are having a hard time repaying housing loans………………………………………..Full Article: Source

Philippines’ property boom shows no sign of slowdown

Posted on 29 January 2013 by Laxman  |  Email |Print

A property boom in Metro Manila, described as the best in two decades, has pushed construction in the Philippines to its highest growth in at least six quarters. The Philippines is experiencing a property boom like no other with developments covering office buildings, housing projects, hotels and new shopping districts.
This is all being fuelled by confidence in the Philippine economy which grew at a notable 7.1 per cent in 2012. With the Philippine economy growing at an impressive pace, experts said there will be no slowdown in the demand for real property market as the country rides on strong macroeconomic fundamentals and investor confidence………………………………………..Full Article: Source

Australia: Love affair with property hasn’t faded

Posted on 29 January 2013 by Laxman  |  Email |Print

Despite any market gloominess, Aussies still love their property. You cannot deny it - you are reading this article after all. And go on, admit it - on your holidays you probably picked up the local property newspaper or hung around the window of local agent to check out the houses for sale, dreaming of a little beach shack.
I know I’m not the only one who loves property. We talk about it with family, mates and anyone who will listen to our experiences and pearls of wisdom. And according to new research from realestate.com.au, more of us may actually be prepared to act upon our searching urges this year………………………………………..Full Article: Source

Australia’s housing prices remain far too high for first-home buyers

Posted on 29 January 2013 by Laxman  |  Email |Print

So is Australia’s housing market “unaffordable” or not? What we really lack in Australia is a realistic vision of how our housing market should appear.
There are too many conflicting voices smothering the debate – from a myriad investors looking to profit from rising prices, hoping they’ll outpace inflation to enable retirement on a pot of ‘property gold’ to consumer organisations struggling to address the growing mountain of citizens requiring public housing or rental assistance………………………………………..Full Article: Source

Global RE direct investment to double to $1 tln by 2030

Posted on 28 January 2013 by Laxman  |  Email |Print

Global direct commercial real estate investment will double to $1 tln (€744 bn) per annum by 2030, Jones Lang LaSalle says in a new report. Investors are responding to shifting economic conditions by funnelling more capital into commercial property, particularly in Asia, the report said. In 2012 global real estate investment volumes totalled nearly $450 bn.
‘Capital growth ambitions that dictated many investment decisions before the financial crisis have given way to a global hunt for secure income streams in a low-interest-rate environment,’ said Colin Dyer, President and CEO of Jones Lang LaSalle………………………………………..Full Article: Source

The U.S. housing recovery is starting to show up in corporate results

Posted on 28 January 2013 by Laxman  |  Email |Print

Companies that sell power tools, air conditioners, carpet fibers, furniture and cement mixers are reporting stronger sales for the fourth quarter, providing further evidence that a turnaround in the housing market is taking hold.
The results add to data on home construction and pricing that indicate a bottom may have been reached after the sector’s long slide. While the incoming data continue to be mixed, evidence that Americans are spending more to build and refurbish homes is raising executives’ confidence that the housing market will continue to improve……………………………………….Full Article: Source

U.S: A new housing boom? Don’t count on it

Posted on 28 January 2013 by Laxman  |  Email |Print

We’re beginning to hear noises that we’ve reached a major turning point in the housing market — and that, with interest rates so low, this is a rare opportunity to buy. But are such observations on target?
It would be comforting if they were. Yet the unfortunate truth is that the tea leaves don’t clearly suggest any particular path for prices, either up or down. On the one hand, there were sharp price increases in 2012, with the S.&P./Case-Shiller 20-City Index, which I helped devise, up a total of 9 percent over the six months from March to September………………………………………..Full Article: Source

The housing market’s long-term silver lining

Posted on 28 January 2013 by Laxman  |  Email |Print

The housing market got some short-term bad news today, with the Commerce Department reporting that home sales in December fell 7.3% from the previous month. But housing analysts who are looking past that headline see a lot of reason for optimism in some more positive long-range trends.
The market is 52% as strong as it was prior to the 2008 crash, according to a housing index created by online real estate marketplace Trulia. For its monthly Housing Barometer, Trulia crunches three indicators: U.S. Census construction data, National Realtors Association existing sales, and delinquency and foreclosure rates from mortgage-data firm Lender Processing Services. While 52% would be a lousy score on an exam, it’s the highest score the real-estate market has seen since the real-estate boom………………………………………..Full Article: Source

U.S: Housing market’s latest obstacle: Appraisals

Posted on 28 January 2013 by Laxman  |  Email |Print

What’s that $1 million house really worth? Depends who you ask. To determine the value of a property, appraisers are supposed to review purchase prices of similar, nearby homes that sold in the past six months. But when a property is much pricier than others in the neighborhood, it can be hard to find similar examples close by. As a result, their asking prices are often out of whack with values that are later determined by appraisals.
“The higher you go up the ladder in value generally the less data you have,” says Danny Wiley, chief appraiser for LSI, an appraisal-management company based in Irvine, Calif………………………………………..Full Article: Source

Six housing forecasters who got things right in 2012

Posted on 28 January 2013 by Laxman  |  Email |Print

While it’s been a perennial rite of spring for some economists to predict that housing markets would hit bottom, very few at the beginning of 2012 foresaw the housing rebound that many U.S. housing markets experienced last year.
A few analysts, of course, did offer housing forecasts at the beginning of the past year that turned out to be largely correct. What’s more: some of these analysts had also accurately forecast the housing sector’s slowdown as the market neared its peak in 2005 and 2006………………………………………..Full Article: Source

What Florida shows us about the real estate market

Posted on 28 January 2013 by Laxman  |  Email |Print

Sick of the cold? Maybe you should buy a place in Florida, where temperatures are warm and the housing market is heating up. The cold snap gripping much of the country is surely prodding many to dream of owning a second home someplace warm, or of moving there for good. Data show that Florida’s housing market might be in a sweet spot.
Prices remain low, as Florida was among the states hit hardest by the collapse of the housing bubble, but prices are on the rise, so a purchase now would appear less risky than it would have a year ago………………………………………..Full Article: Source

U.K. house prices stagnated in January as demand dropped

Posted on 28 January 2013 by Laxman  |  Email |Print

U.K. house prices stagnated in January and the number of new buyers looking for homes fell as concern over the euro-area debt crisis and the impact of the government’s fiscal squeeze hit demand, Hometrack Ltd. said.
Prices in England and Wales were unchanged from December, after declining for the previous six months, the property researcher said in a statement today. The number of new buyers registering with agents fell 9.9 percent from a month earlier, while the number of properties listed for sale fell 6.8 percent………………………………………..Full Article: Source

UK: Estate agents upbeat about property prospects for 2013

Posted on 28 January 2013 by Laxman  |  Email |Print

Survey reveals housing market optimism for sales in new year despite sellers having to drop asking prices in January. The housing market has kicked off the year in better shape than it did in either of the previous two years, despite more sellers being forced to drop their asking prices in January, according to a new survey.
A large majority of estate agents are optimistic that 2013 will see a steady rise in the number of home sales and the improving situation will put a floor under prices, which have fallen on average for the last two years………………………………………..Full Article: Source

Irish property tax penalises Dublin residents, warn critics

Posted on 28 January 2013 by Laxman  |  Email |Print

Dublin politicians fear bulk of taxes will be collected from its residents, who own most of Ireland’s expensive homes. Plans by Ireland’s government for a property tax have come under fire from the main opposition party amid concerns the move will land homeowners with a bumper bill as they struggle to pay a string of other new taxes.
Protest meetings have heaped pressure on Ireland’s finance minister, Michael Noonan, to drop the plan, which is expected to raise €500m (£425m) for the cash-strapped coalition government in its first full year………………………………………..Full Article: Source

Germany retains lead as preferred destination

Posted on 28 January 2013 by Laxman  |  Email |Print

Germany has retained its title as favoured investment location in Europe, according to the latest Investor Intentions survey published by INREV. Almost 68% of investors polled in the suvey and as much as 92.3% of fund of funds managers opted for allocations to this region.
The Nordic markets ranked second with 60% of investors selecting this as their preferred location, largely driven by their own domestic investments. The UK remains in third position with 32% of investors giving it the thumbs up………………………………………..Full Article: Source

Failed property bets show Danish bank woes far from over

Posted on 28 January 2013 by Laxman  |  Email |Print

Denmark’s latest bank failure was caused by bad bets on commercial property, a model for insolvency that continues to dominate the nation’s financial woes, Jyske Bank A/S (JYSK) Chief Executive Officer Anders Dam said.
Dam, who agreed on Jan. 25 to take over Sparekassen Lolland A/S (SPALOL) after it failed to meet regulatory solvency requirements, won’t cover losses incurred by shareholders or subordinated creditors. Jyske has yet to calculate the final cost of the deal, he said in an interview………………………………………..Full Article: Source

Moscow office completions slump to 10-year low

Posted on 28 January 2013 by Laxman  |  Email |Print

Office property completions in Moscow slumped to a 10-year low in 2012, according to Jones Lang LaSalle. About 162,500 m2 of new supply was launched on the market in the fourth quarter, the property adviser said.
This represents a 9% decline on a quarter-on-quarter basis with the annual cumulative figure amounting to 557,000 m2, which was down 33% on a year-on-year basis………………………………………..Full Article: Source

Mideast remains hotspot for realty investments

Posted on 28 January 2013 by Laxman  |  Email |Print

On the whole, the Middle East remains a property hotspot for global investors, with the UAE, Saudi Arabia and Qatar providing choice real estate investment opportunities.
According to research firm Ventures Middle East, the current value of infrastructure projects in the GCC is estimated at $408.8 billion, driven by strong growth the UAE still holds the lion’s share of infrastructure projects, accounting for $187.2 billion………………………………………..Full Article: Source

Saudi- Housing outlook positive, but where will supply come from?

Posted on 28 January 2013 by Laxman  |  Email |Print

No one can deny that housing is of critical importance to the Kingdom. A recently released report from the National Commercial Bank (NCB) confirms most assessments that demand for new units is expected to increase from 195,000 units per annum in 2011 to 264,000 units totaling 2.4 million units by 2020.
That means that the outlook for the Saudi housing sector is very positive, as a young, fast-growing, affluent Saudi population will continue feeding demand for housing. The mortgage law has been enacted and the Saudi Arabian Monetary Agency (SAMA) is working on issuing the implementing regulations - key drivers for facilitating end-user financing………………………………………..Full Article: Source

UAE Real estate market heats up

Posted on 28 January 2013 by Laxman  |  Email |Print

The cost of accommodation in UAE increased at a rapid pace in 2012, with prices of villas and rents climbing up by 23 per cent and 17 per cent, respectively.
The upward trend in property prices is expected to continue in the coming months. As investors showed renewed interest in the real estate market, villa prices increased at the highest rate in four years. The prices of apartments jumped by 14 per cent in 2012………………………………………..Full Article: Source

Dubai office & residential market view: Q4 2012

Posted on 28 January 2013 by Laxman  |  Email |Print

Dubai’s office sector has remained broadly stable during the final quarter with average CBD lease rates flat at AED1,450/m²/annum. However, over the course of the year rents have fallen marginally by around 4.0%, due to an increase in tenant movements away from ageing properties to newer, better quality accommodation.
Despite a minor decline in the average rate, some prime properties around the CBD have actually managed to grow their headline rents over the past 12 months, aided by the limited supply of good quality and efficient office spaces. (Press Release)

India realty sector to get $4-5 bln investments

Posted on 28 January 2013 by Laxman  |  Email |Print

India’s realty sector is set for inflows of $ 4 to 5 billion from global investors in the next couple of years, with Bangalore, Delhi and Mumbai emerging as favourites, according to the Asia Pacific CEO of global real estate consultancy firm Jones Lang LaSalle (JLL).
“The early foreign investors in India, who came in around 2006-07, did not have very good experience, partly because of their inexperience in doing business in India and partly because of global financial crisis,” Alastair Hughes said at the World Economic Forum (WEF) Annual Meeting………………………………………..Full Article: Source

India: Correction in the housing market may be round the corner

Posted on 28 January 2013 by Laxman  |  Email |Print

Home prices in Mumbai softened in the December quarter while price growth in other Indian cities slowed, two real estate consultancy firms have said, reinforcing speculation that a correction in the housing market could be round the corner.
According to property consultancy CBRE, prices of new homes in India’s financial capital Mumbai were down 2-5% in the October-December period from the previous quarter. Liases Foras, another property research firm, said prices in the city had dropped 1%. Both said that the rate at which prices were growing in the other cities, too, had come down significantly………………………………………..Full Article: Source

Property prices down by 1pct flat in Mumbai

Posted on 28 January 2013 by Laxman  |  Email |Print

Plan to buy property in and around Mumbai? Now’s the time, opine real estate experts. A slight downward shift in prices, they say, could herald good news for buyers.
According to the latest survey put out by real estate research firm, Liases Foras, for the first time in the last three or four years, the weighted average price (derived from simple average) of residential property in the Mumbai metropolitan region — Mumbai, its suburbs and 22 civic bodies around — has gone down by a marginal 1 per cent in the last quarter………………………………………..Full Article: Source

Shiller says U.S. housing market may drop further

Posted on 25 January 2013 by Laxman  |  Email |Print

A U.S. housing-market revival may prove illusory and the threat of further weakness remains, said Robert Shiller, a professor at Yale University and co-creator of the S&P/Case-Shiller index of property values.
“The housing market has been declining for something like six years now, it could go on, that’s my worry,” Shiller told Tom Keene in a Bloomberg Television interview today in Davos, Switzerland. “The short-term indicators are up now, it definitely looks better, but we saw that in 2009.”……………………………………….Full Article: Source

A US housing recovery with a lot of long-term question marks

Posted on 25 January 2013 by Laxman  |  Email |Print

Optimism is building about a recovery in the US housing market but plenty of questions remain. ‘Forecast: Home prices will rise 6pc in 2013,’ read a recent headline in USA Today. No wonder President Barack Obama was in such combative mood when he delivered his second inaugural address on Monday.
An improving economy will make it easier to push through his political agenda over the next four years. As freezing temperatures descended on much of the US this week, it was not just the White House that was being warmed by the cheer from the housing market………………………………………..Full Article: Source

Massachusetts housing market ‘turned the corner’ last year

Posted on 25 January 2013 by Laxman  |  Email |Print

Single-family home sales in the Bay State climbed 18 percent in 2012, marking 12 consecutive months of year-over-year sales gains and the best year on record since 2006, according to industry tracker The Warren Group.
In all of last year, home sales statewide rose to 46,887 compared to 39,594 in 2011. Single-family home sales in Massachusetts also rose 8 percent to 3,688 last month, up from 3,410 in December 2011. In 2006, there were 50,724 sales, The Warren Group said………………………………………..Full Article: Source

New Yorkers’ optimism about real-estate market hits 3-year high

Posted on 25 January 2013 by Laxman  |  Email |Print

New Yorkers in all regions are viewing the real estate market positively for the first time in three years, including increased optimism about housing values and market conditions. A Siena College real estate sentiment report released Thursday found that for the fourth quarter in 2012, the overall confidence score about the housing market increased by 11.9 points from last quarter.
“For the first time in this study’s history, dating back to the first quarter of 2010, New Yorkers as a whole and in every area of the state say that the market has turned and that values over the last year have improved,” said Don Levy, director of the Siena Research Institute, in a statement………………………………………..Full Article: Source

Canadian commercial real estate market performs despite turbulent international backdrop

Posted on 25 January 2013 by Laxman  |  Email |Print

Annual investment capital flow into the Canadian real estate sector is predicted to be close to CDN$30 Billion in 2013. This is a slight dip from the previous cyclical high of CDN$32.1 Billion in 2007, but above the long term average of CDN$19.3 Billion. Solid fundamentals will continue to characterize Canada’s real estate market despite a turbulent backdrop of uncertainty in international economies and financial markets.
“We anticipate strong interest in Canadian real estate from a broad cross section of investors in 2013, with the REIT sector dominating transactions,” said Keith Reading, Director of Research at Morguard. “Canadian property values will remain at the peak, given access to low cost capital and attractive yields.” (Press Release)

CBRE: Improved economic sentiment in 2013 to set stage for real estate recovery in 2014

Posted on 25 January 2013 by Laxman  |  Email |Print

A gradual recovery in economic performance and business confidence this year will set the European real estate market up for a stronger recovery in 2014, according to global real estate advisor, CBRE.
European property markets faced a difficult economic environment in 2012, with heightened fears of a euro break up in the first half and output flat or falling across almost all the continent by the year end. 2013 has started more positively, with the threat of euro disintegration receding, together with encouraging news from China and the US, underpinning some signs of improvement in market sentiment and business confidence……………………………………….Full Article: Source

London office deals at pre-crisis levels

Posted on 25 January 2013 by Laxman  |  Email |Print

Surging international demand for central London offices helped draw £14bn of investment into the capital’s commercial property market during 2012, marking a return to pre-financial crisis levels of activity.
The total, two-thirds from foreign buyers, made spending in 2012 the third-highest level on record, after 2006 and 2007, and 50 per cent up on the amount invested during 2011, according to research for CBRE, the property consultancy………………………………………..Full Article: Source

Asia to lead property investment by 2030

Posted on 25 January 2013 by Laxman  |  Email |Print

Growth of direct commercial real estate transaction around the world will more than double the 2012 rate by 2030 as investors respond to shifting economic conditions by channeling more capital into commercial real estate, particularly in the Asia Pacific region, a leading international property services provider has predicted.
Global direct commercial real estate investment market is expected to exceed US$1 trillion per annum by 2030, compared with nearly US$450 billion registered last year, according to a latest research report released by Jones Lang LaSalle………………………………………..Full Article: Source

What’s in store for Indian real estate in 2013?

Posted on 25 January 2013 by Laxman  |  Email |Print

In 2012, the market has brought discouragement for the developers in real estate which is why it is now a big question on how the market performance would be in 2013. This article speaks about the insights of India’s real estate market in 2013 from real estate expert, Ashutosh Limaye, Head- Research & Real Estate Intelligence Service, Jones Lang LaSalle India.
This New Year, developers are hoping for an optimistic future for real estate segment with the government’s plan to give realty sector an industry status and favourable policies, after a long wait………………………………………..Full Article: Source

China property loans ease in quarter, but still relatively strong

Posted on 25 January 2013 by Laxman  |  Email |Print

Bank lending to China’s property sector eased in the last quarter of 2012 but remained at a relatively high level as the property market recovered, data from the central bank showed on Thursday.
Chinese banks lent 367.9 billion yuan ($59.17 billion) to home buyers and property developers between October and December, cooling from the third quarter’s 416.8 billion yuan, though still sharply higher the first quarter’s 242.7 billion yuan - the low point of last year………………………………………..Full Article: Source

Singapore’s biggest deals hit by property curbs

Posted on 25 January 2013 by Laxman  |  Email |Print

Singapore’s latest round of measures to curb record property prices has become a stumbling block in the city-state’s two-biggest corporate takeover deals.
Overseas Union Enterprise Ltd. (OUE) this week gave up its two- month S$13.8 billion ($11.2 billion) tussle against Thai billionaire Charoen Sirivadhanabhakdi for property and drinks company Fraser & Neave Ltd., citing the measures. Wheelock Properties Ltd., which tried to thwart a plan by SC Global Developments Ltd.’s chief executive officer to buy out the company, dropped the fight less than a week after the new rules, citing “market developments.”……………………………………….Full Article: Source

Singapore’s private home prices expected to be relatively stable: analyst

Posted on 25 January 2013 by Laxman  |  Email |Print

Colliers International said private home prices are expected to remain relatively stable with marginal downside this year, thanks to the government’s latest cooling measures imposed in January 2013.
In the face of mounting supply, rents are also expected to weaken this year. According to a report by Colliers International, average monthly gross rents of luxury/super-luxury homes are expected to decline by up to a maximum of 10 per cent in 2013………………………………………..Full Article: Source

Australian housing market not as unaffordable as Demographia claims

Posted on 25 January 2013 by Laxman  |  Email |Print

Rising house buying activity in the last 12 months and greater enthusiasm from buyers suggests Demographia’s has overstated the severity of housing affordability in Australia, says Australian Property Monitors chief economist Andrew Wilson.
The hotly-debated Demographia survey ranked Australia as the third least affordable housing market in Australia behind Hong Kong and Canada. Sydney ranked as the third most expensive major housing market in the world - with a median multiple of 8.3 topped by Vancouver in Canada at a multiple of 9.5, and, most expensive, Hong Kong where the multiple sits at 13.5………………………………………..Full Article: Source

U.S. home prices rose 5.6pct in 12 months through November

Posted on 24 January 2013 by Laxman  |  Email |Print

U.S. home prices climbed 5.6 percent in the 12 months through November as buyers competed for a dwindling inventory of properties, according to the Federal Housing Finance Agency.
Prices rose 0.6 percent from October on a seasonally adjusted basis, the FHFA said today in a report from Washington. The average estimate of 15 economists in a Bloomberg survey was for a 0.7 percent advance. The index is 15 percent below its April 2007 peak and about the same as the August 2004 level………………………………………..Full Article: Source

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