Tue, Jul 29, 2014
A A A
Welcome hendrik.absolut
RSS

Real Estate Briefing - Archive | March, 2013

Cubans on the move as new real estate market grows

Posted on 21 March 2013 by Laxman  |  Email |Print

At an informal housing market on Havana’s historic Paseo del Prado, Renaldo Belen puts the hard sell on a prospective buyer under a tree hung with hand-lettered signs advertising homes for sale.
A house near Boyeros, the avenue to the city’s airport, is being offered for the equivalent of $120,000, with all the amenities. “The house is beautiful, it has four bedrooms, a pool with a bar and a fountain with a lion’s head on top. Look,” says Belen, pointing to photos on the sign, “water comes out of the lion’s mouth.”……………………………………….Full Article: Source

PIMCO sees opportunity in European commercial property

Posted on 21 March 2013 by Laxman  |  Email |Print

The head of PIMCO’s mortgage credit portfolio management team said the firm is targeting direct commercial real estate investments and non-securitized loans, which carry greater risk but higher return potential.
Dan Ivascyn, who is also a managing director at Pacific Investment Management Co, which has $2 trillion under management, said the move by banks around the world to offload some of their debt has created opportunity to buy up unrated loans………………………………………..Full Article: Source

UK budget 2013: Property market moves seen as ‘game-changer’

Posted on 21 March 2013 by Laxman  |  Email |Print

Housebuilders were among the biggest winners in Wednesday’s Budget, as a “gamechanging” move to boost mortgage availability was extended to older properties. Shares in the UK’s biggest housebuilding companies soared as a result. Barratt, the biggest riser, gained 6.5 per cent to close at 255p.
Around a quarter of housebuilders’ sales in the past year have already benefited from government schemes to boost mortgage availability and although the industry had been clamouring for more support, the size of Wednesday’s boost nevertheless took the industry by surprise………………………………………..Full Article: Source

Budget 2013: Osborne offers homebuyers help to buy

Posted on 21 March 2013 by Laxman  |  Email |Print

Help to Buy scheme offers buyers with a 5% deposit an interest-free loan of up to 20% of the value of most new homes. A £3.5bn investment in government loans to financially stretched homebuyers and a £12bn scheme to increase the availability of mortgages to people who cannot afford a large deposit were unveiled by the chancellor “to support a new generation in realising the dream of home ownership”.
The two measures were the centrepiece of a package of financial support for the housing market, and aim to provide assistance to first-time buyers and those “trapped” in their existing homes and unable to take the next step up the property ladder………………………………………..Full Article: Source

Investment hotlist: Stockholm property market

Posted on 21 March 2013 by Laxman  |  Email |Print

Residential housing development in the inner most suburbs is very interesting right now. Around one-third of Sweden’s GDP comes from the Stockholm region and looking forward the region is expected to have 20.000–30.000 new people moving in each year. It’s a must to develop new housing in all districts, especially around the subway stations.
Converting offices to apartments. Many areas that used to be lucrative for offices are now even hotter for housing. Some buildings are being demolished, and in others the stocks can be re-used………………………………………..Full Article: Source

New Iraqi budget deepens housing crisis

Posted on 21 March 2013 by Laxman  |  Email |Print

The strenuous efforts exerted to handle the housing crisis were quickly rendered useless when the ratified 2013 general budget did away with the allocations for the housing fund, which was to grant loans for those wishing to build new homes.
The Iraqi parliament ratified the 2013 general budget on March 7 after a heated debate among involved parties regarding the share allotted to the semi-autonomous Kurdistan region. The budget did not include any housing allocations, which were held back until an increase in oil revenues is seen………………………………………..Full Article: Source

S.Africa: Office space under pressure in year ahead

Posted on 21 March 2013 by Laxman  |  Email |Print

Property pundits agree that office property will remain the problematic sector in the next 12 to 18 months with dominant retail centres likely to be the best performers. Vukile Property Fund CEO Laurence Rapp believes that — consistent with last year — the market will continue to “see the office property sector under pressure”.
While Rapp believes the performance of the industrial property sector will continue to improve, retail property will continue to be “the preferred asset class given its growth potential but inherently defensive nature”………………………………………..Full Article: Source

US: Fastest growing boomtowns

Posted on 20 March 2013 by Laxman  |  Email |Print

Rising oil and gas prices have brought big oil, plenty of workers and lots of housing headaches to the nation’s fastest-growing boomtowns. Williston, N.D.: The small city of Williston, N.D., was once a sleepy farm town — until oil companies discovered ways to tap the vast Bakken formation believed to hold as many as 24 billion barrels of oil.
Dickinson, N.D.: Located on the southern edge of the Bakken formation, Dickinson is going through similar growth as Williston. In fact, out of all metro areas — large and small — last year, Williston is the only place in the country where the population grew faster………………………………………..Full Article: Source

U.S. home building jumps to 5-year high as building permits climb

Posted on 20 March 2013 by Laxman  |  Email |Print

New U.S. home construction rose in February and building permits climbed to the highest level in almost five years, adding to signs of progress in the housing market that’s helping boost the economy.
Builders broke ground on 917,000 homes at an annual rate, up 0.8% from a revised 910,000 pace in January that was higher than initially estimated, the Commerce Department reported Tuesday in Washington. Building permits, a proxy for future construction, advanced 4.6% to 946,000, the strongest since June 2008………………………………………..Full Article: Source

U.S. housing starts up 0.8 pct in Feb.

Posted on 20 March 2013 by Laxman  |  Email |Print

U.S. homebuilders broke ground on more houses in February, evidence of the recovering property market, U.S. Department of Commerce reported on Tuesday. U.S. privately-owned housing starts were at a seasonally adjusted annual rate of 917,000 last month. The level was 0.8 percent above the revised January estimate of 910,000, and was 27.7 percent higher than the level in February 2012.
Single-family housing starts in February were at a rate of 618,000, 0.5 percent above the revised January figure of 615,000………………………………………..Full Article: Source

Number of ‘underwater’ homes drops in U.S.

Posted on 20 March 2013 by Laxman  |  Email |Print

With property values rising, more than 200,000 homeowners in the United States returned to positive equity in their homes in the fourth quarter of 2012, according to a new study by CoreLogic. The number of homeowners that are still “underwater,” with negative equity in their homes, now stands at 10.4 million, or 21.5 percent of all residential properties with mortgages, down from 10.6 million at the end of the third quarter, the firm says.
“The scourge of negative equity continues to recede across the country. There is certainly more to do but with fewer borrowers underwater, the fundamentals underpinning the housing market will continue to strengthen,” said Anand Nallathambi, president and CEO of CoreLogic………………………………………..Full Article: Source

US property prices set to rise by an average of 4.6pct in 2013, poll suggests

Posted on 20 March 2013 by Laxman  |  Email |Print

Residential real estate prices in the United States are set to end 2013 up an average of 4.6% and rise cumulatively by 22%, on average, over the next five years, according to a new survey.
The first quarter Zillow Home Price Expectations Survey also shows that the majority support policies that would allow certain underwater home owners to refinance at today’s low rates………………………………………..Full Article: Source

The U.S. housing bubble is back

Posted on 20 March 2013 by Laxman  |  Email |Print

Has the U.S. housing bubble begun to reinflate? In the past several months, there has been a lot of speculation to that effect, but so far, no one other than David Stockman has really come out and committed to an affirmative answer. And even Stockman didn’t specify when such a new bubble in the U.S. housing market might actually have begun.
But what really sparked our interest in this topic today is the unexpected strength in the number of initial unemployment insurance claims being filed during the last several weeks, which along with the strength of the construction industry cited in the latest employment situation report, suggests that the U.S. housing industry is finally showing signs of robust growth, at least as measured by rising sale prices for homes………………………………………..Full Article: Source

SWFs poised to be aggressive with US CRE

Posted on 20 March 2013 by Laxman  |  Email |Print

Sovereign wealth funds, it is no secret, have been steadily building up a war chest of funds and all signs point to an unleashing this year. What may take some by surprise is the level of their wealth and the aggressiveness by which they will deploy their assets—especially as they step up their property investments.
One example is Norway’s Government Pension Fund Global, which recently acquired commercial real estate in the US, including Washington, DC………………………………………..Full Article: Source

Baby Boomers to sway Canada’s housing market

Posted on 20 March 2013 by Laxman  |  Email |Print

The Baby Boom generation that helped drive up home sales in recent decades will be part of its gearing down as seniors retire and settle down for longer in one place.
Canada’s aging population will have “important implications” for future housing demand in the coming decades, according to a new report from Scotiabank. That includes a slowdown in overall housing sales, balanced somewhat by a steady number of condos purchased as Baby Boomers downsize and more people wind up living alone………………………………………..Full Article: Source

London drives yearly UK house price growth of 2.2pct

Posted on 20 March 2013 by Laxman  |  Email |Print

British house prices rose by an average 2.2pc to £234,000 in the year to January, as London’s booming property market grew still more split from the rest of the country. The headline UK price growth represented a slowing of the 3.3pc rate seen in the year to December, due to a 0.7pc monthly price fall in January alone, according to the Office for National Statistics (ONS).
Monthly movements can be volatile and the ONS said house price growth remains “relatively stable” across most of the UK. House prices are now at similar levels to mid-2008 prices, although they remain below their pre-crisis peak………………………………………..Full Article: Source

Wave of foreclosures risks killing Ireland’s housing recovery

Posted on 20 March 2013 by Laxman  |  Email |Print

Irish bankers preparing for the biggest wave of foreclosures in the nation’s history are struggling with how to dispose of the homes as the central bank pressures them to go after owners of investment properties.
Ireland, which had the biggest real estate crash in Europe with a 50% plunge in residential prices since 2007, is only now contemplating significant repossessions. The focus is on the so-called buy-to-let market, or properties bought to rent, which jumped during Ireland’s decade-long real estate boom, and now account for more than a fifth of the 142-billion- euro (US$184-billion) mortgage market………………………………………..Full Article: Source

S.Africa: Demand for houses on the rise

Posted on 20 March 2013 by Laxman  |  Email |Print

Demand for residential property increased in the first quarter of 2013, according to the FNB Estate Agent Survey released on Tuesday. The indicator for demand in the survey rose from the previous 5.89 to 6.57, FNB household and consumer strategist John Loos said.
“This is the highest level since the first quarter of 2007, which was just prior the big slump in the residential property market,” he said. On seasonally adjusted data, the demand rating also rose from a previous quarter’s six to 6.26 in the first quarter of 2013, the highest level since the first quarter of 2007………………………………………..Full Article: Source

Lack of regulatory framework weighs on Saudi property market

Posted on 20 March 2013 by Laxman  |  Email |Print

The lack of a regulatory framework in Saudi Arabia’s property market continues to be a major factor contributing to the affordable housing problem in the kingdom, according to a new report by CBRE.
Affordable housing, which remains largely out of reach for the majority of the population, has emerged as the key issue over the past few years in the kingdom’s residential market. About 60% of the Saudi national population lives in rented accommodation, as high land prices make it difficult for developers to meet the price requirements of mid to low-end sectors of society who wish to buy a property, the report said………………………………………..Full Article: Source

UAE: Growing investor interest in health care real estate

Posted on 20 March 2013 by Laxman  |  Email |Print

Property and retail markets could stand to benefit from growing investor interest in the UAE’s niche healthcare real estate segment, analysts and developers say. “It’s a sector of the market that traditionally has not been catered for by real estate investors but now there’s more investor interest in this segment,” said Craig Plumb, head of research for Mena at Jones Lang LaSalle.
A combination of government spending and a crowded traditional property market in the region is prompting investors to seek opportunities in healthcare real estate, which includes hospitals, clinics, medical universities and medical towers, he said………………………………………..Full Article: Source

China: NBS statistics-rising property prices

Posted on 20 March 2013 by Laxman  |  Email |Print

Latest statistics show that prices for new houses rose more steeply in more Chinese cities in February, putting the government in an increasingly complex situation of regulating the bubble-ridden market.
Of a statistical pool of 70 major Chinese cities monitored by the National Bureau of Statistics or NBS, 66 cities saw new house prices increase within 3.1 percent in February from a month earlier, while three saw prices remain unchanged and only one reported price falls. The figures indicate warming in the housing market since January, when 53 cities reported a growth margin of no more than 2.2 percent………………………………………..Full Article: Source

Second-hand home transactions hit historic lows

Posted on 20 March 2013 by Laxman  |  Email |Print

Home sales in the secondary market have plunged to historical lows, hit by increased mortgage rates and developers’ competitive pricing strategies on new developments that have lured home seekers away from the second-hand housing sector.
With buyers sidelined as they await clearer pricing signals, analysts and property agents believe demand will not pick up again until prices in the mid- to mass housing markets fall by 10 per cent or so, and by more in the luxury sector………………………………………..Full Article: Source

What can S Korea do about its stagnant housing market?

Posted on 20 March 2013 by Laxman  |  Email |Print

South Korea’s protracted housing slump is causing a headache to its new government. President Park Geun-hye faces a challenge in boosting stagnant property prices, which has been holding back domestic consumption in Asia’s fourth-largest economy.
South Korea’s house prices have been flagging for the past two years and are showing no signs of recovery this year with the economy forecast to grow only 2.8 per cent after last year’s estimated 2.0 per cent expansion………………………………………..Full Article: Source

China’s property prices too high for more people: Survey

Posted on 20 March 2013 by Laxman  |  Email |Print

More Chinese residents find property prices too high and “hard to accept” even as the government rolls out extra measures to cool the housing market, a central bank survey showed.
More than two-thirds of those surveyed, or 68 percent, said prices are too high, the highest percentage since the final quarter of 2011, the People’s Bank of China said in a quarterly release today. More than a third, or 34.4 percent, said home prices will rise in the coming three months………………………………………..Full Article: Source

South Korea to fuel property as China targets market slowdown

Posted on 20 March 2013 by Laxman  |  Email |Print

South Korean housing sales at the lowest levels since 2006 are increasing the urgency of President Park Geun Hye’s plans to bolster the market, just as China, Singapore and Hong Kong enact cooling measures.
Transactions fell 14 percent to 47,288 in February, the least for that month in seven years, according to the land ministry. Prices are also sliding, with values in Seoul lower than any time since March 2008………………………………………..Full Article: Source

Upcountry realty offers challenges, chances

Posted on 20 March 2013 by Laxman  |  Email |Print

The stellar growth in residential real estate last year was driven by strong demand. Thanks to favourable drivers including solid consumption, momentum from housing purchases after the great flood, tax incentives for first-time home buyers, and access to consumer credit, the real estate market has been upbeat.
The residential real estate market size in Bangkok and its vicinity now surpasses 300 billion baht, or a compound growth rate of 10% a year over the past five years. Nonetheless, various Bangkok-based developers are eyeing opportunities beyond Bangkok, raising interesting points: why do Bangkok-based developers need to expand to the provinces and will they be successful in establishing their franchises?……………………………………….Full Article: Source

Future of the housing market is ‘a great unknown’: Robert Shiller

Posted on 19 March 2013 by Laxman  |  Email |Print

There’s no doubt the housing market is recovering. New and existing home sales are well above the levels of a year ago and inventories are at their lowest level in 13 years. Plus, home prices are 7% higher than they were a year ago, according to the latest S&P/Case-Shiller report.
But along with this good news are growing concerns that another bubble is forming in the housing market. Feeding those fears is a growing number of all-cash purchases for homes—primarily by speculators. They account for 27% or more of existing home sales every month over the past year, according to the National Association of Realtors………………………………………..Full Article: Source

Why higher mortgage rates will help the housing market

Posted on 19 March 2013 by Laxman  |  Email |Print

Mortgage interest rates have been rising on signs that the U.S. economy is improving. Last week, the 30-year fixed rate reached the highest level in more than six months, climbing to an average of 3.63%, compared with 3.52% the previous week and 3.92% a year earlier. The current rate is the highest it’s been since the week of Aug. 23 when the 30-year fixed rate averaged 3.63%, according to Freddie Mac.
With economic prospects improving, rates could rise even higher this year. This increase could mathematically make buying a home more expensive, but it’s unlikely to stall the housing recovery. To the contrary, higher rates could actually support it………………………………………..Full Article: Source

Homebuilder confidence in U.S. unexpectedly fell in March

Posted on 19 March 2013 by Laxman  |  Email |Print

Confidence among U.S. homebuilders unexpectedly fell for a second month in March, a sign the residential real-estate market will take time to strengthen.
The National Association of Home Builders/Wells Fargo index of builder confidence dropped by 2 points to 44 this month, due to a decrease in the measure of current sales, a report from the Washington-based group showed today. The median forecast in a Bloomberg survey called for a gain to 47. Readings below 50 mean more respondents said conditions were poor………………………………………..Full Article: Source

Wall Street institutions behind home price surges in markets like Phoenix

Posted on 19 March 2013 by Laxman  |  Email |Print

It’s no secret that Wall Street has been bullish on real estate. Housing stocks have surged over the past year, many teetering on the edge of overbought, and billionaire investors like Warren Buffett have been exceedingly vocal about the investment opportunities brick and mortar properties have represented.
Private equity and hedge fund firms have been sinking billions into single family rentals, buying distressed homes off of banks’ balance sheets in discounted bulk………………………………………..Full Article: Source

Housing rebound has a long way to go: Meritage CEO

Posted on 19 March 2013 by Laxman  |  Email |Print

The housing market is rebounding, but the new-home market still has a long way to go before it’s back to normal, Meritage Homes CEO Steven Hilton told CNBC’s “Squawk on the Street” on Monday.
“Our business has been strong,” Hilton said. “We’ve had very brisk traffic and sales activity across all our communities.” He also suggested that the third monthly drop in homebuilder sentiment reported by the National Association of Home Builders was inconsistent with business activity………………………………………..Full Article: Source

No crash in store for Canadian housing market: Scotiabank

Posted on 19 March 2013 by Laxman  |  Email |Print

A slowdown in Canada’s housing market will continue through 2013 and years of stagnation may follow, but no crash is likely because demographic trends will support demand in the medium term, a report by Scotiabank said on Monday.
The report by Canada’s third-largest bank said that home sales have already dropped more than 10% from spring 2012, with prices leveling off but not yet falling except in particularly hard-hit markets………………………………………..Full Article: Source

Settle in for long-term housing slowdown, Scotia says

Posted on 19 March 2013 by Laxman  |  Email |Print

An ageing population and slower economic growth will weigh on the country’s housing market for the next decade at least, Scotiabank, one of the country’s largest home-loan lenders, said Monday. The bank — the latest to offer a dour long-term view of the real-estate market — is bracing homeowners for the slowdown following a 10-year period of explosive price gains fuelled by low interest rates and high demand.
“Looking further ahead, the impact of retirement of the large baby boom generation in slowing labour force growth will restrict the potential growth rate, or speed limit, of the Canadian economy relative to recent decades,” Adrienne Warren, senior economist and the bank’s real-estate specialist said during a presentation at the bank’s Toronto offices………………………………………..Full Article: Source

Commercial property the ‘belle of the ball’

Posted on 19 March 2013 by Laxman  |  Email |Print

Perhaps it sounds like a broken record at this point: Economically, Canada is in a good spot. Just look at the bustling commercial real estate market. A wall of capital is waiting to be placed, and its investors are fighting over core assets in Canada, experts say.
High-quality commercial real estate has become a good alternative to bond investments for a large pension fund, or other investment vehicles, says Ian MacCulloch, national research director with Colliers International, a real estate investment advisory company………………………………………..Full Article: Source

UK: Buyers rush to ‘blinding’ returns from buy-to-let

Posted on 19 March 2013 by Laxman  |  Email |Print

Rightmove says government efforts to bolster lending had created an “arbitrage of immediate return”. Britain’s biggest property listings website today said investors were piling into buy-to-let for “blindingly good returns” after the government’s efforts to bolster lending had created an “arbitrage of immediate return”.
Rightmove said its research showed that rents are delivering average gross yields of “5.9 per cent”………………………………………..Full Article: Source

UK: Countrywide flotation fuels optimism over housing market

Posted on 19 March 2013 by Laxman  |  Email |Print

Britain’s biggest estate agent prepares for initial public offering amid signs of renewed buoyancy in property market. Britain’s biggest estate agent, Countrywide, is poised to sell its shares in an initial public offering on Wednesday at the highest possible price it had planned for, in a further sign that the UK housing market is gaining momentum.
The company is preparing to offer its shares at the top end of the range – 330p to 350p a share, up from an initial 260p-350p – two unnamed sources told Reuters………………………………………..Full Article: Source

March high for house asking prices

Posted on 19 March 2013 by Laxman  |  Email |Print

House sellers’ asking prices are at the highest they have ever been for the month of March as confidence returns to the market, property search website Rightmove says. House sellers’ asking prices are at the highest they have ever been for the month of March as confidence returns to the market, property search website Rightmove says.
New sellers lifted their asking prices by 1.7% month-on-month to reach £239,710 on average, beating the previous record high for the month which was set in March 2008 by £55………………………………………..Full Article: Source

IPD: Investment in German property: safe haven or following the herd?

Posted on 19 March 2013 by Laxman  |  Email |Print

In February, the IPD German Monthly Open Ended Property Fund Index OFIX, for M2/2013, reported that open-ended funds for German real estate substantially outperformed the market, with an annual return of 2.3% against -0.2% for funds with a European focus, and -1.0% for those with a global focus.
Compared to February 2012, index volume decreased by €1.2 bln or 1.7%, primarily as a result of fund liquidations. 10 out of 22 OFIX funds have entered liquidation, and their fund volumes have decreased by €1.0 bln compared to last year………………………………………..Full Article: Source

Blackstone German housing sale signals peak

Posted on 19 March 2013 by Laxman  |  Email |Print

Blackstone Group LP (BX) and Goldman Sachs Group Inc. (GS) are among private-equity investors selling the most German housing assets since they plowed into the market in 2005, a sign that price gains may have peaked.
Investors plan to sell at least 5 billion euros ($6.5 billion) of apartments and shares of property companies this year, according to company statements and people with knowledge of the deals. Private-equity firms divested about 3.8 billion euros of housing in 2007, when there were no share sales, data from broker Jones Lang LaSalle Inc. show………………………………………..Full Article: Source

Carefully managed housing market key to Turkish economic success: Deputy PM

Posted on 19 March 2013 by Laxman  |  Email |Print

Turkey’s Deputy Prime Minister Al-Babacan emphasized the importance of housing development on the macroeconomic health of the country and the positive effects of the sector being properly financed, clearly and effectively regulated and with a mix of low cost and public housing forming a substantial part of development.
This, he said, was the formula that had seen Turkey through the world economic downturn. He said: “The mortgage system was carefully designed and both clearly and strongly regulated. This developed trust in the system and a resulting stability.”……………………………………….Full Article: Source

Housing inadequate for 30pct of Saudis

Posted on 19 March 2013 by Laxman  |  Email |Print

Abdullah Sadiq Dahlan, member of the Jeddah Economic Forum (JEF)’s organizing committee and chairman of the board of trustees at the University of Business and Technology, warned of an imminent threat of a housing crisis exploding in the Kingdom over the coming years in the absence of realistic housing plans.
Dahlan said that 37 percent of Saudis do not own houses and pay rent, while 30 percent live in inadequate housing facilities. He also pointed out that the Kingdom is in need of 350 million sq meters to accommodate a growing population with 67 percent of the population currently searching for affordable housing………………………………………..Full Article: Source

Jones Lang LaSalle chooses Bangalore for realty investment

Posted on 19 March 2013 by Laxman  |  Email |Print

Global property consultant Jones Lang LaSalle will be making its first real estate investment from its maiden India-focused fund in Bangalore, a development that indicates a cautious return of risk capital to the country’s beleaguered property market.
The transaction, which will be made by Jones Lang LaSalle’s Segregated Funds Group, will look to invest about Rs 30 crore in city-centric luxury residential projects, according to a person with direct knowledge of the transaction………………………………………..Full Article: Source

China: Housing prices rise in more cities

Posted on 19 March 2013 by Laxman  |  Email |Print

New home prices rose more steeply in more Chinese cities in February, putting the government in an increasingly complex situation of regulating the bubble-ridden market, official data showed Monday.
Of a statistical pool of 70 major Chinese cities monitored by the National Bureau of Statistics, 66 cities saw home prices increase within 3.1 percent in February from a month earlier, while three saw prices remain unchanged and only one reported price falls………………………………………..Full Article: Source

China’s housing prices rise further

Posted on 19 March 2013 by Laxman  |  Email |Print

New-home prices in China rose sharply in February from January, prompting speculation that Beijing will crack down further on property speculation. The price increases follow Beijing’s vow to implement a 20% capital-gains tax on sales of second homes, further home-purchase restrictions and stricter credit regulations for second-home buyers to cool the market.
The statements hit the share prices of property developers but have also prompted a flurry of home-buying activity in China in recent weeks………………………………………..Full Article: Source

China Overseas aims for HK$100bln in property sales for 2013

Posted on 19 March 2013 by Laxman  |  Email |Print

China Overseas Land & Investment, one of the biggest developers on the mainland, is aiming for sales this year of at least HK$100 billion. Chairman Kong Qingping described it as a conservative forecast, as the target has taken into account unfavourable circumstances the market could face.
Kong spoke to reporters as the company announced a 21.1 per cent jump in net profit last year to HK$18.72 billion, or HK$2.29 a share, up from a restated HK$15.46 billion, or HK$1.89 a share, a year earlier. China Overseas said its core profit, excluding property revaluation, climbed 21.4 per cent to HK$15.8 billion. Turnover rose 25.8 per cent to HK$64.58 billion………………………………………..Full Article: Source

China’s property market sizzles as toughest policies to take effect

Posted on 19 March 2013 by Laxman  |  Email |Print

New and second-hand home prices rose in February from January in 66 of China’s 70 largest cities, the National Bureau of Statistics said. The strongest gains were seen in the top four cities, where Beijing and Guangzhou both recorded a 3.1% month on month increase in new home prices in February, Shanghai 2.3% and Shenzhen 2.2%.
The month on month price increases in second-hand homes were weaker than those in new homes. The prices of the second-hand homes in Beijing averaged 1.7% higher in February than January, the fastest in all 70 cities, according to the bureau………………………………………..Full Article: Source

Hong Kong still world’s hottest market

Posted on 19 March 2013 by Laxman  |  Email |Print

Government measures implemented to slow soaring home prices in Hong Kong didn’t work in 2012. Home values rose 23.6 percent for the year, the largest increase in the world, according to the Knight Frank Global House Index.
“With supply lagging, demand from mainland Chinese investors keen to get their slice of Hong Kong’s real estate prices, has surged,” the property firm reports………………………………………..Full Article: Source

Thailand: BoT chairman raises alarm of property, capital bubble

Posted on 19 March 2013 by Laxman  |  Email |Print

Foreign capital inflows have put the economy at risk of financial and property sector bubbles which could burst by year’s end, Virabongsa Ramangkura, chairman of the Bank of Thailand board, has warned. Dr Virabongsa said capital inflows have forced the stock market index up from around 1,000 points in the middle of last year to nearly 1,600 at present, while the purchase of government bonds has also surged by more than 15%.
He said he doubted that the central bank’s Monetary Policy Committee would lower interest rates to cool the influx of foreign capital………………………………………..Full Article: Source

NZ: IMF report shows housing focus right - Key

Posted on 19 March 2013 by Laxman  |  Email |Print

A report warning of a sharp downturn in house prices shows the Government is focused on the right area, Prime Minister John Key says. The International Monetary Fund has highlighted a strengthening housing market as one of the risks facing the New Zealand economy over the next 12 months. Rising price expectations could fuel another housing bubble, it says.
In its annual report card, the IMF said household credit growth, housing market turnover and house-price inflation had all recently picked up, particularly in Auckland where supply bottlenecks persisted and prices remained elevated “by most measures of affordability”………………………………………..Full Article: Source

Biggest banks see U.S. home prices surging this year

Posted on 18 March 2013 by Laxman  |  Email |Print

Federal Reserve Chairman Ben Bernanke’s efforts to revive housing are making real estate bulls even more bullish. JPMorgan Chase & Co. more than doubled its forecast for U.S. home price gains in 2013 to 7% this week, and predicts a more than 14% increase through 2015. Bank of America Corp. said last week property values will jump 8% this year, up from a prior estimate of 4.7% in a report titled “Someone say house party?”
The two biggest U.S. banks are predicting an accelerating rebound as homebuyers and investors rush to acquire a dwindling supply of properties and the Federal Reserve pushes down borrowing costs by buying mortgage bonds. ……………………………………….Full Article: Source

March 2013
M T W T F S S
« Feb   Apr »
 123
45678910
11121314151617
18192021222324
25262728293031