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Real Estate Briefing - Archive | April, 2013

Thoughts on the housing market recovery

Posted on 30 April 2013 by Laxman  |  Email |Print

The U.S. housing market is no longer a basket case. Data from the S&P/Case-Shiller Home Price Indices show that average home prices in an assortment of American cities have been on the upswing, increasing by almost 7 percent across the country in 2012. Recent reports that sales of new single-family homes rose in March are proof points that “the housing market recovery remains on track.”
Nicolas P. Retsinas is a Senior Lecturer in Real Estate at Harvard Business School, Director Emeritus of Harvard University’s Joint Center for Housing Studies, and former Federal Housing Commissioner………………………………………..Full Article: Source

Pending sales of existing homes in U.S. climbed 1.5pct in March

Posted on 30 April 2013 by Laxman  |  Email |Print

More Americans than forecast signed contracts in March to buy previously owned homes, another indication of progress in the housing market.
The index of pending home sales increased 1.5 percent after a revised 1 percent decline the prior month that was larger than initially reported, figures from the National Association of Realtors showed today in Washington. Economists forecast a 1 percent increase, according to the median estimate in a Bloomberg survey………………………………………..Full Article: Source

The hottest housing markets of 2013

Posted on 30 April 2013 by Laxman  |  Email |Print

After a long and painful downturn in the housing market, home prices are finally beginning to head north. According to Zillow, a real estate listing website, home values rose 5.1% across the United States between February 2012 and February 2013.
Many local housing markets are performing considerably better than the country as a whole. Home values rose more than 13% in 10 of the 30 largest housing markets for which Zillow has data, and rose more than 20% in five of them. The biggest growth of all took place in Phoenix, where home values rose 24%………………………………………..Full Article: Source

Buyers driving housing recovery, not investors

Posted on 30 April 2013 by Laxman  |  Email |Print

Investors may have kick-started the housing recovery, buyers are truly driving the market, research shows. Recent reports point to strength in the non-distressed or conventional sales market, which is dominated by current homeowners and first-time home buyers.
According to the Campbell/Inside Mortgage Finance Survey released last week, investors accounted for just 21.8% of home sales in March. Investors accounted for only 13% of sales of non-distressed properties, the largest segment of the market. Current homeowners had a 50% market share and first-time homebuyers a 37% share of the non-distressed housing market………………………………………..Full Article: Source

7 tips for landing your dream home

Posted on 30 April 2013 by Laxman  |  Email |Print

The real estate market has flipped from a buyer’s market to a seller’s market in just a short time. While there are still great deals to be had, buyers need to be more creative, savvy and educated about their local housing market to land the home of their dreams.
Housing inventory is down 40 percent or more from two years ago in some markets, and that means stiff competition for the best houses. But there are methods to beat other buyers to the property you covet, some conventional and some more unusual………………………………………..Full Article: Source

Positive signs abound for housing

Posted on 30 April 2013 by Laxman  |  Email |Print

The recovery in the housing market is continuing its slow and steady recovery. The most recent data point showed pending home sales rising by 1.5% in March which reverses the February decline. According to the National Association of Realtors the pending home sales index increased to 105.7 in March from the 104.1 it hit last month. This represents a solid 7% year-over-year increase for the index.
Overall, the association’s chief economist, Lawrence Yun, pointed out that “contract activity has been in a narrow range in recent months, not from a pause in demand but because of limited supply.” He sees closings ending up modestly as the year progresses. All of which points to continued modest gains for a housing market that’s been lackluster for the past few years………………………………………..Full Article: Source

Lawsuit seeks to halt Empire State Building IPO

Posted on 30 April 2013 by Laxman  |  Email |Print

Minority owners of New York’s Empire State Building want a state judge to block a proposal that would roll the skyscraper and 17 other Manhattan buildings into a common ownership group known as a real estate investment trust, or REIT.
The 82-year old Empire State was the tallest in the world from its opening until the completion of the World Trade Center in 1973. It has played a central part in numerous movies, including “King Kong,” “An Affair to Remember” and “Sleepless in Seattle.”……………………………………….Full Article: Source

Big funds see commercial property opportunity

Posted on 30 April 2013 by Laxman  |  Email |Print

The big investments funds are not always smarter or better than smaller investors. But every once in a while they spot opportunities that others miss. A prime example can be found in Europe, where funds are scooping up office projects that have been undervalued by the market.
The key is looking for offices that have tenants with short term leases. Offices with tenants with long term leases are typically valued as much as 30 percent more than similar buildings with tenants with less than five years remaining on their leases………………………………………..Full Article: Source

UK: House price rise disguises regional differences

Posted on 30 April 2013 by Laxman  |  Email |Print

House prices in England and Wales increased by 0.1% in March, according to the latest Land Registry report, but the headline figure disguised a mixed pattern of rises and falls around the regions.
London continued to record the strongest growth, with prices rising by 2.5% in March alone. The annual rate of price growth in the capital hit 9.6% and the average price reached £374,568. In contrast, prices in Middlesbrough fell by 5.1% in March and were down 16.5% year-on-year to an average of £69,049………………………………………..Full Article: Source

London property market hits 2007 levels as prices rise for third month in a row

Posted on 30 April 2013 by Laxman  |  Email |Print

London’s booming property market helped house prices rise for the third month in a row in April, as conditions in the capital’s housing market reached levels not seen since 2007.
Prices increased by 0.3% month-on-month across the country, following a similar uplift in March, with a 0.7% rise in London driving the rate of growth, a study by Hometrack found. Demand from new buyers registering with estate agents in London has grown three times faster than the rate of homes coming on the market over the last three months, the study said………………………………………..Full Article: Source

Sales on secondary housing market in Baku rose nearly by 3pct in March

Posted on 30 April 2013 by Laxman  |  Email |Print

The supply decreased by 4.4% in the secondary housing market of Baku. Public organization “Property Market Participants” informs that totally 5,700 apartments were proposed for the market in March.
“Last month, 78.7% of the portfolio of the secondary housing market was formed from flats in Yasamal, Nasimi, Narimanov and Khatai districts of Baku, which is associated with the transition of apartments from the primary market to the secondary market in these districts,” PMP said………………………………………..Full Article: Source

Dubai defies luxury property slowdown with 5.4 pct rise in prices

Posted on 30 April 2013 by Laxman  |  Email |Print

Dubai has defied a global slowdown in the luxury property market after witnessing a 5.4 percent rise in prices during the first quarter of this year, according to Knight Frank. The emirate came fourth in a ranking of the world’s luxury property markets, behind only Jakarta, Bangkok and Miami in terms of price rises, the property consultancy said.
Prices of luxury villas and apartments in the emirate rose by 5.4 percent in the first quarter compared with the final three months of 2012, Knight Frank said. That represented an 18.3 percent increase on the first quarter of last year………………………………………..Full Article: Source

Sharjah residential rents rise 15pct since October

Posted on 30 April 2013 by Laxman  |  Email |Print

According to Cluttons, a real estate consultancy, the increase in rent is due to demand outstripping supply for the first time since the global financial crisis.
Apartments in popular areas such as Al Majaz, Al Nahda and Al Qassimiya saw an average rental increase of 10 to 15 per cent since October 2012. In areas such as Sharghan, Al Fisht and Al Falaj, villa rents went up a similar 15 per cent due to strong growth in demand and a lack of quality stock………………………………………..Full Article: Source

Kuwait real estate sales climb 19pct in March

Posted on 30 April 2013 by Laxman  |  Email |Print

Real estate sales in Kuwait worth a total KD 293 million leapt 19pct in March, 2013 since the same period last year, said a National Bank of Kuwait (NBK) report here on Saturday. The increase comes after a drop witnessed at the beginning of the year, NBK’s weekly economic brief on Kuwait said, expecting the market to remain stable until a slowdown marked by the advent of the summer period, particularly as the market’s three main sectors are witnessing healthy demand.
Total sales in the housing sector, including 490 transactions, reached KD 149 million in March with an average of 1.0pct on a year-on-year basis as the average of each transaction grew by 7.0pct in comparison with 2012………………………………………..Full Article: Source

Australia: Is the property market getting back to normal?

Posted on 30 April 2013 by Laxman  |  Email |Print

There are many differences between the Australian, Britain and US property markets but these overseas markets can be terrific barometers for us.
In recent years, the overseas markets were devastated, with a slump in value, markets swamped with desperate sellers and innumerable foreclosures.Those few buyers who were around found it difficult to get finance as credit and lending dried up. The picture was not good………………………………………..Full Article: Source

Jakarta, Bangkok and Miami top global cities prime property growth

Posted on 30 April 2013 by Laxman  |  Email |Print

Cities in Asia, North America and the Middle East continue to dominate the top half of the results table while seven of the bottom ten rankings are occupied by European cities, according to Knight Frank’s latest Prime Global Cities Index.
On a regional basis, cities in the Middle East recorded average annual price growth of 11% while Europe was the weakest performing region with prime prices falling on average by 2.3%. A typical prime property is now worth 21.3% more than it was in the second quarter of 2009 when the Prime Global Cities Index hit its post-Lehman low………………………………………..Full Article: Source

Will residential real estate suffer same fate as gold?

Posted on 26 April 2013 by Laxman  |  Email |Print

With gold prices currently on the descent, many investors are asking themselves if residential real estate prices will follow. Gold and real estate are the two primary investment routes for retail investors in India, so this is definitely a valid question to ask.
The performance of residential real estate as an asset class is doubtlessly dependent on the macro-economic factors that also dictate the performance of other asset classes, including gold. Nevertheless, the correlation between gold and real estate prices is not as distinct as one may at first assume. Price movements in the real estate sector are the result of supply and demand. This is true for gold as well, but the demand drivers for real estate are not the same as for precious metals………………………………………..Full Article: Source

Think tank advises buying property in the US

Posted on 26 April 2013 by Laxman  |  Email |Print

Investing in China’s real estate market will not be as profitable as buying property in the US, mainly due to China’s property curbs and the US housing market recovery, a top Chinese government think tank said in a report released Wednesday.
Property prices in China will be relatively stable in 2013 and there is limited room for further rises, given the country’s regulation of the property market, the Chinese Academy of Social Sciences said in the report………………………………………..Full Article: Source

15-year mortgage rate hits record low

Posted on 26 April 2013 by Laxman  |  Email |Print

The 15-year fixed rate fell to 2.61% this week from 2.64%, The previous record low of 2.63% was set the week of Nov. 21, 2012.An adjustable-rate mortgage, the 5/1 ARM, also bottomed out at 2.58%. The most popular mortgage, the 30-year fixed-rate, came in at 3.4%, 0.09 percentage point above its record low.
“The housing market is getting a boost, with mortgage rates hovering at or near record lows,” said Frank Nothaft, Freddie’s chief economist………………………………………..Full Article: Source

How to fix the great real estate after-bubble

Posted on 26 April 2013 by Laxman  |  Email |Print

There’s an additional reason the Wall Street property grab will injure struggling homeowners: Single family homes make a truly lousy absentee investment. Many of us who have become accidental landlords — after moving or the death of a parent — have learned that management easily becomes a nightmare. The very nicest people can turn into “tenants from hell” — such as drug addicts.
Then there’s the rent. “My check bounced? Are you sure? I promise I’ll get you another check as soon as my paycheck comes in.” Worse, there’s maintenance. “I know it’s three AM, but my toilet is plugged up and overflowing.” “Have you tried using the plunger?”……………………………………….Full Article: Source

Confidence in the UK construction sector at its highest since end of 2007

Posted on 26 April 2013 by Laxman  |  Email |Print

In the last quarter some 10% more surveyors across the country reported rising workloads and one of the main drivers behind this was the boost in private housing construction.
While still historically low, the boost in house building would suggest that some of the government initiatives are quietly beginning to breathe life back into parts of the nation’s property sector, says RICS………………………………………..Full Article: Source

International property investors should beware London traps, says Riverside Capital’s Dominic Wright

Posted on 26 April 2013 by Laxman  |  Email |Print

Overseas investors looking to buy into the UK commercial property market are entering an extremely popular market and without proper knowledge and guidance they can find their investments have not been best placed.
Considered a safe haven, the London property market in particular has seen massive levels of investment in 2012 - around £16bn. Compare that to less than £4bn going into the New York property market in the same time frame and it provides a clear indication of just how attractive a location London is for overseas investors………………………………………..Full Article: Source

Irish house prices: Residential property prices fall by 3pct in the year to March 2013

Posted on 26 April 2013 by Laxman  |  Email |Print

In the year to March, residential property prices at a national level, fell by 3%. This compares with an annual rate of decline of 2.6% in February and a decline of 16.3% recorded in the twelve months to March 2012, according to the CSO today. Residential property prices fell by 0.5% in the month of March. This compares with a decrease of 1.5% recorded in February. Prices were unchanged in the month of March of last year.
In Dublin residential property prices fell by 0.8% in March but were 1.4% higher than a year ago. Dublin house prices fell by 0.3% in the month but were 1.5% higher compared to a year earlier………………………………………..Full Article: Source

Spanish real estate prices near bottom, Santander CEO Saenz says

Posted on 26 April 2013 by Laxman  |  Email |Print

Banco Santander SA (SAN)’s decision to “retract” as much as 1 billion euros ($1.3 billion) of provisions to cover property price declines may show Spain’s real estate market is close to its lowest point, Chief Executive Officer Alfredo Saenz said.
Santander, Spain’s biggest bank, set aside the funds for for this year to cover the risk that price declines would accelerate. The bank is “retracting” the provision because it now doesn’t expect it will be needed, he said……………………………………….Full Article: Source

Kuwait: Addressing the housing shortage

Posted on 26 April 2013 by Laxman  |  Email |Print

In March 2013 the government revealed plans to build 174,000 new houses and three separate cities by 2020, two near the Iraqi border in the north, and one on the Saudi border in the south. Although no official price tag has been given for the project, estimates put the cost at around $5bn.
Under Kuwaiti law, the country’s 1.2m nationals are entitled to apply for government housing after marriage, receiving loans that are paid off in small instalments over 30 years. However, despite the state’s $400bn oil surplus, applications for housing now outstrip supply by more than 100,000 and will grow by an estimated 8000 applications each year, local media has reported………………………………………..Full Article: Source

Property prices in Delhi-NCR up 20pct over 2012

Posted on 26 April 2013 by Laxman  |  Email |Print

Delhi and the adjoining National Capital Region (NCR) has seen a 20 per cent rise in property prices over the past year, the highest among all metropolitan regions in the country, according to a report.
The highest growth was seen in Sector 112 of Gurgaon, where capital values rose 72 per cent in the first quarter of 2013 over the same quarter in 2012, said the report by 99acres.com, which has taken into account seven major cities across India………………………………………..Full Article: Source

China is poised to top Japan, Australia among international commercial property investors in Asia

Posted on 26 April 2013 by Laxman  |  Email |Print

When it comes to commercial real estate investment flows China still takes a back seat in Asia to Japan and Australia, whose markets have better transparency, more experienced investors and deeper inventory. Yet China is also poised to surpass both in the next few years as its economy becomes more service-driven and the investable supply rises, especially in Beijing and the country’s other big top-tier markets, Shanghai and Guangzhou.
So says Anthony Couse, a managing director in Shanghai for global real estate consultancy Jones Lang LaSalle of Chicago. His enthusiasm is apparently shared by the Blackstone Group, reported in April to be planning to raise up to $4 billion for a real estate fund focused on China and Asia………………………………………..Full Article: Source

Inside China’s economy: ¥710bln lent to property market in Q1

Posted on 26 April 2013 by Laxman  |  Email |Print

Chinese banks lent ¥710.3 billion to the property development in Q1 2013, ¥466.7 billion more than a year earlier, according to a report released by the central bank. Property loans represented 27% of total lending in Q1 2013. Outstanding loans taken out by the real estate sector, including those issued by foreign banks, amounted to ¥12.98 trillion as of the end of March 2013, up 16.4% from a year earlier, the People’s Bank of China said.
Total outstanding loans rose 14.9% from a year earlier to ¥65.76 trillion as of the end of March 2013 after ¥2.76 trillion, ¥294.8 billion more from a year earlier, were lent during Q1 2013. Outstanding loans for small and midsized businesses rose to ¥11.78 trillion as of the end of March 2013, up 13.5% from a year earlier………………………………………..Full Article: Source

China’s Q1 outstanding property loans up 16.4pct

Posted on 26 April 2013 by Laxman  |  Email |Print

China’s outstanding real estate loans in the first quarter rose 16.4 per cent from the same period a year ago, even while overall industrial lending slowed, providing new evidence that the property market in Asia’s largest economy is still heating up.
Banks in China had 12.98 trillion yuan (S$2.6 trillion) in loans to the property sector by the end of March, according to data posted yesterday on the People’s Bank of China (PBOC) website. The rise in outstanding loans in local currency compares with a year-on-year increase of 12.8 per cent at the end of the fourth quarter last year………………………………………..Full Article: Source

UK: Confidence in housing market surges

Posted on 26 April 2013 by Laxman  |  Email |Print

Confidence in the housing market among homeowners has soared to its highest level in three years, a property search website has reported.Almost three-quarters of homeowners (74%) expect house prices in their area to rise by September, with the predicted increase averaging 4.5%, in further evidence that the market is starting to “turn a corner”, Zoopla said.
Both the proportion of people forecasting house price increase and the typical size of the anticipated increase are the highest figures recorded in around three years by the quarterly study, which began in 2009………………………………………..Full Article: Source

Fiji: Real estate market improves

Posted on 26 April 2013 by Laxman  |  Email |Print

The real estate market in Fiji has picked up momentum considering the tough environment since the global financial crisis in 2007-2008.Naisoso Island Fiji managing director Bob Lowres said they continued to receive interest from local and overseas property investors for their land and apartments priced from $600,000.
“We all need to work together to put our best foot forward to the rest of the world. Fiji is an amazing place to live in and making sure people understand that there is far more to living here than just white sandy beaches and clear blue water is really important. It’s safe, it’s friendly, it’s excellent value and it’s only a few hours away from Australia and New Zealand,” he said………………………………………..Full Article: Source

‘Abenomics’ boosts Japan property market

Posted on 26 April 2013 by Laxman  |  Email |Print

The return of Japan Prime Minister Shinzo Abe and his monetary policy known as “Abenomics” is jump starting the country’s sluggish property sector, many analysts believe.After years of austerity, Mr. Abe is pouring money into the economy and the Bank of Japan is buying financial assets, including Japanese real estate trusts (J-REITs), the Financial Times reports.
“The policies being implemented at the moment are generally seen as positive for real estate,” Andy Hurfurt, head of investment consulting at CBRE in Tokyo, told the paper. “To a degree the BoJ is telling people that they are going to underwrite the J-REIT market.”……………………………………….Full Article: Source

Australia: Property values to double?

Posted on 26 April 2013 by Laxman  |  Email |Print

The S&P/ASX 200 has made significant gains this year on the back of heavy investments made in blue-chip stocks. Recent turbulence in the mining industry and overseas markets has left many investors wondering whether the share market has run its race, and whether now may be the time to take their profits and seek gains elsewhere.
The solution that those investors are looking for may have been answered by RP Data, which released results suggesting that the value of Australian properties are set to soar. According to the results, a total of 263 suburbs in Australia have recorded an average annual growth rate of above 7.2% over the past five years – 68 of which are located in Melbourne………………………………………..Full Article: Source

Housing rebound in U.S. hampered by success as costs soar

Posted on 25 April 2013 by Laxman  |  Email |Print

Even as U.S. housing rebounds from its worst downturn since the 1930s, production bottlenecks are pushing up building-materials costs, land prices are rising and skilled labor ready to begin work is hard to find.
Suppliers of glass, drywall and wood products, who reduced output during the slump, are testing the vigor of the rebound by boosting prices before committing to restore capacity. Builders, including Lennar Corp. (LEN), Toll Brothers Inc. (TOL) and KB Home, are asking homebuyers for more money as a result or are delaying sales, posing a temporary hurdle for the industry that has become one of the pillars of the economic expansion………………………………………..Full Article: Source

‘US real estate market in free fall’

Posted on 25 April 2013 by Laxman  |  Email |Print

The U.S. real estate market is in a “state of free fall” despite the U.S. government and big banks manipulating the market to stabilize it, says Mike Harris, financial editor at Veterans Today.
On Wednesday, the Washington Post said that according to a report from the special inspector general for the Troubled Asset Relief Program, American homeowners who received loan modifications under a federal government program are defaulting on their mortgages at an alarming rate………………………………………..Full Article: Source

Zillow CEO Spencer Rascoff: Pulling back the veil on the housing market

Posted on 25 April 2013 by Laxman  |  Email |Print

Online real estate marketplace Zillow has brought to home buying and selling what a previous generation of travel websites provided to shoppers wanting to compare the prices of hotels, rental cars and airline flights — transparency. But finding data that is reliable across the board can be difficult, according to Zillow CEO Spencer Rascoff. And the key is not just simply to offer the information, Rascoff said during a recent conversation with Knowledge@Wharton and Wharton real estate professor Susan M. Wachter; it’s about the various sub-models the company’s software incorporates.
Zillow has a database of more than 110 million U.S. homes that includes homes for sale and homes for rent. It also incorporates Zestimate, which helps calculate home values. Zillow is the leading real estate website, Rascoff notes, but only about 12% of Americans have heard of it………………………………………..Full Article: Source

Housing market sprouting spring blossoms: CEOs

Posted on 25 April 2013 by Laxman  |  Email |Print

An ongoing rebound in the new home market is leading to better sales of building materials like roofing as well as new appliances, two CEOs told CNBC.
“We had a great quarter in roofing,” Owens Corning CEO Michael Thaman told CNBC’s “Street Signs” on Wednesday. “We’re seeing insulation, despite the fact that it’s losing money, move back into profitability. And we think composites will begin to turn the corner in the second quarter and improve in the second half.”……………………………………….Full Article: Source

Growing pains for the housing market

Posted on 25 April 2013 by Laxman  |  Email |Print

The modest decline in existing home sales in March in Monday’s update from the National Association of Realtors (NAR) prompted some pundits to wonder if the housing rebound is topping out. Anything’s possible, but the reason why sales slipped in March suggests that the market’s suffering from growing pains rather than facing a cyclical turn for the worse.
The issue to consider is the supply of existing homes for sale. Although the inventory of units for sale turned up slightly last month, for the second time in a row, the rise follows several years of falling supplies. Demand, however, keeps rising………………………………………..Full Article: Source

UK: Banks report housing market boost and predict increase in first-time buyers

Posted on 25 April 2013 by Laxman  |  Email |Print

There was a faint whiff of possible good news for homeowners in the latest mortgage statistics published on today. Mortgage approvals climbed slightly in March, suggesting government moves to bolster the property market may be beginning to be successful.
Some 31,227 home loans worth £4.8bn were approved in the month, according to the British Bankers’ Association, up from a seven-month low of 30,579 in February.The BBA said the February slump was because of a seasonal winter slowdown, but it was cautious about signalling a recovery………………………………………..Full Article: Source

Swiss real estate prices record high in 2012, likely to head down

Posted on 25 April 2013 by Laxman  |  Email |Print

Swiss home prices are likely to start drifting down, says Wüest & Partner in its latest report on the Swiss real estate market. The company is an international real estate consultancy firm that regularly produces reports on its home market.
“In the coming months, demand for commercial properties is expected to flatten in response to sluggish economic growth. The residential markets are overall robust, but likely to enter calmer waters in 2013 compared to the previous years,” the company’s “Property Market Switzerland 2013/2, published 23 April, forecasts………………………………………..Full Article: Source

Germany, Sweden and Finland best bets for investors - Aviva

Posted on 25 April 2013 by Laxman  |  Email |Print

Investors should look to Germany, Sweden and Finland to minimise risk and ensure stable returns, according to the latest Aviva Macro and Property Risk Ratings analysis.
The Aviva report claims that Germany has moved to become the least risky market in Europe for real estate investors from a macroeconomic perspective. The country has been aided by a fall in measures of financial risk………………………………………..Full Article: Source

Warsaw’s property sector experiencing five minutes of fame

Posted on 25 April 2013 by Laxman  |  Email |Print

Warsaw’s growing role as a financial and business hub is showing in its central business district, where cranes are a regular feature of the skyline and ambitious building projects are going ahead.
Poland’s capital – the largest and most liquid office market in central Europe – is at the heart of the region’s commercial property market………………………………………..Full Article: Source

Moscow: Q1 2013 saw record volume of new office space delivered to the market since 2011

Posted on 25 April 2013 by Laxman  |  Email |Print

According to CBRE’s latest office market report, the Moscow market was stable in Q1 2013 with the exception of the largest volume of new office space delivered to the market in Q1 2013 since 2011. New delivery in Q1 2013 was 259,544 m².
In Q1 2013 the total Moscow office market take was 221,458 m² which is comparable to the volume of deals closed in Q1 2011 (219,000 m²), but is lower than the figure for Q1 2012 (about 274,000 m²) were leased in Q1 2012………………………………………..Full Article: Source

Bahrain residential property market seeing increased demand

Posted on 25 April 2013 by Laxman  |  Email |Print

That along with the planned US$1 billion GCC aid will also contribute towards the nation’s social and infrastructure development programme and in the coming months the residential lettings market is expected to experience a surge in supply.
Cluttons, the real estate specialist which has been operating in the Middle East since 1976, says that several major residential developments will be brought to market over the next six months, including those being built under the government’s housing programme………………………………………..Full Article: Source

Chinese cash flowing to overseas property

Posted on 25 April 2013 by Laxman  |  Email |Print

In 2012, Chinese capital directed at overseas commercial investment totaled $4 billion, a 33 percent increase from the year before, according to new data from Jones Lang LaSalle.
The amount of money flowing out of China to cross-border real estate investment is a sharp contrast to the recent past. Out of the total Chinese capital invested in real estate in 2003, just two percent went overseas, JLL reports. In 2012 it increased to 26 percent, according to JLL………………………………………..Full Article: Source

Chinese investment boom in properties of Seoul metropolitan area

Posted on 25 April 2013 by Laxman  |  Email |Print

More than 2,000 people flocked to the first floor of Sydney`s Town Hall in Australia on April 14. Ethnic Chinese living in Australia and those flying from China and Hong Kong participated in the “2013 Chinese Sydney Property Expo,” which introduced realty products in Australia to Chinese investors who have emerged as “big shots” on the global real estate market. Twenty seven companies installed promotional booths and introduced apartments and high-end houses worth between 700,000 and 8 million Australian dollars each, in a race to sell them.
With the Korean property market in a protracted slump, domestic investors have shunned real estate investment, but foreigners are creating increasingly strong investment fever in the realty market here………………………………………..Full Article: Source

Singapore: Private home owners make profit from reselling their properties

Posted on 25 April 2013 by Laxman  |  Email |Print

Non-landed private property owners have earned a total of S$107 million in gross profit from reselling their properties after project completion since the first quarter of 2012.This is according to a research report by property agency OrangeTee.
The report noted that property owners who had invested in the prime residential sector reaped the highest return in dollar terms, with an average profit of S$410,000 per unit.Meanwhile, mass-market property owners in the Outside Central Region (OCR) had the highest average percentage capital gain of 41 per cent………………………………………..Full Article: Source

Malaysia: 5pct to 10pct property price correction seen

Posted on 25 April 2013 by Laxman  |  Email |Print

Luxury condominiums and even landed property may face a 5%-10% price correction this year in response to a slower occupancy rate last year.This does not, however, mean that property prices would start to tumble as overall mass market housing would be able to sustain slower growth.
According to real estate services provider CH William Talhar & Wong managing director Foo Gee Jen, the occupancy rate among luxury condominiums in Kuala Lumpur registered only 67% last year, which was “not a very healthy sign”………………………………………..Full Article: Source

Australians incite bidding wars as rates spur rebound: Mortgages

Posted on 25 April 2013 by Laxman  |  Email |Print

Australians selling properties are increasingly turning to auctions as interest rates matching the lowest in 50 years fuel demand for homes in the country’s largest cities.
In Sydney, the most-populous city, almost two-thirds of homes offered at a public sale found buyers in February and March, the highest level since April 2010, according to data from researcher Australian Property Monitors. In Melbourne, the second-biggest city and largest market for auctions, the proportion rose to 68 percent in February, the highest since May 2010, the figures show………………………………………..Full Article: Source

Melbourne records strong property marke

Posted on 25 April 2013 by Laxman  |  Email |Print

According to Australian Property Monitors, median house prices in the city increased by 3.6 per cent in the three months to March, and unit prices lifted 2.6 per cent.The city recorded the highest quarterly price increases in the country.
The Australian Property Monitors senior economist Dr Andrew Wilson says the Melbourne market is making up lost ground………………………………………..Full Article: Source

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