Wed, Oct 22, 2014
A A A
Welcome hendrik.absolut
RSS
Real Estate Briefing 17.Oct 2008

Posted on 17 October 2008 by Laxman |  Email |Print

From Chinadaily.com.cn: The central government is closely monitoring the property market after 18 cities including Shanghai launched various measures to arrest falling property sales, a senior official said.

Du Ying, vice-minister of the National Development and Reform Commission (NDRC), said: “Real estate is a major sector in our fixed-asset investment, so the government is closely watching its development.” His comments came after the Shanghai municipal government raised by one fifth the mortgage ceiling of the housing accumulation fund, into which employees deposit money every month in return for lower interest rates. The measure took effect on Wednesday….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Times Online: Billions of pounds are now flowing back into the banks, which means that the mortgage market, and consequently house prices, should - in theory - begin to improve.

As Nicholas Leeming, director of propertyfinder.com, puts it: “This week a faint glimmer of hope has begun to emerge at the end of the credit-crunch tunnel.” However, serious lessons have been learnt and confidence is not what it was. Are we really on the road to recovery? ….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From IPE: Divco West Properties and LoanCore Capital have come together to form a $2.5bn (€1.8bn) investment fund which will target real estate debt opportunities at major institutional investors such as Singapore’s GIC.

The Government of Singapore Investment Corporation (GIC) is understood to be one of its biggest largest investors as it has committed to invest $1bn now followed by a further $500m in January….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Irei.com: Mark Finerman, former managing director for RBS Greenwich Capital, has launched LoanCore Capital LP, a fund that is targeting $3 billion in equity to invest in commercial real estate debt.

Finerman already has raised $1.5 billion from the Government of Singapore Investment Corp. and may gather more from the sovereign wealth fund, according to Bloomberg News. Eastdil Secured will assist in raising the fund. …. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Privateequityrealestate.net: The number of commercial property transactions has dropped off significantly in the past three months, according to a report by Real Capital Analytics – including in Asia. Macklowe, Fortress, Morgan Stanley, Aviva and GE are the world’s biggest sellers of real estate.

Commercial property deals are down globally by 57 percent over the past year, with transaction volumes off by as much as 77 percent in countries such as the US, according to a report from Real Capital Analytics…… Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From FT: US mortgage rates have soared this week in an unexpected reaction to the latest Treasury financial rescue plan, which has prompted investors to buy bank debt and sell bonds backed by home loans.

Interest rates on 30-year fixed-rate mortgages, as measured by Bankrate.com, rose to 6.38 per cent on Thursday from 5.87 per cent last week - before the Treasury said on Tuesday that it would take equity stakes in banks and guarantee new bank debt….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Propertyweek.com: The prediction by José Luis Rodríguez Zapatero, the Spanish prime minister, of mergers among the country’s weaker banks merely brought into the public domain a looming reality accepted months ago in private by Spanish bankers.

‘When there’s a time of grave crisis like this, it’s likely that there will be merger situations and restructurings not only in Spain but in other countries as well,’ Zapatero told parliament….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Times Online: Nationwide Building Society, Britain’s third-biggest mortgage lender, today said it would cut its Standard Variable Rate (SVR) by 0.3 percentage points to 6.19 per cent, making it the lowest on the high street. The move follows last week’s half point cut in the Bank of England’s base rate.

Borrowers with a £100,000 repayment mortgage on Nationwide’s SVR will see their monthly payments cut by £18.61 to £655.97….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Ctv.ca: Fewer Canadian homes were sold in the third quarter and the number put on the market also dropped — signalling a slide in housing prices is beginning to slow, says the Canadian Real Estate Association.

A total of 76,391 homes were sold in major Canadian markets in the summer quarter, a dramatic 10.7 per cent drop in volume from the same period last year, CREA said Wednesday…. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Propertywire.com: With the UK property market still in the doldrums the only sign of cheer is the so-called Olympic effect. Those interested in investing in London are looking to 2012 and how it might affect property prices.

But the evidence on the property forums this week is confusing. This probably reflects the reality that the global finance crisis has thrown everyone’s predictions out the window. It is becoming increasingly hard to find any predictions on the future…. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Thestar.com: House prices in Spain have fallen for a second straight quarter, the government said yesterday, offering more bad news for a real estate sector that fuelled a decade of economic growth but has gone flat.

The housing ministry said prices fell 1.3 per cent in the third quarter of this year from the second quarter. That means home prices are now only 0.4 per cent higher than they were in September of 2007. Capital Economics, a London-based economic research organization, said the situation is actually much worse, with price declines of 30 per cent likely….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Propertyshowrooms.com: A change in the constitution of Florida could see those investing in property in the state getting tax incentives to fit renewable energy devices to their homes.

The November elections will see several proposed constitutional amendments on the ballot besides the presidential vote, with Amendment Three proposing to offer tax breaks to householders fitting green devices such as solar water heating panels. Should the amendment be accepted, it could mean more people being able to invest in greener property than would otherwise be the case….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From IPE: Massachusetts Pension Reserves Investment Management Board has selected a new real estate consultant and added an office building to its real estate portfolio. The pension fund appointed Callan Associates as its new real estate consultant following its 8 October board meeting, replacing The Townsend Group.

Mass PRIM has also recently paid $28.8m (€21.2m) for the Torre Plaza office building in Cupertino, California - part of the office market in San Jose - to sit inside its value-added portfolio….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Azobuild.com: Dr. Houssam Toutanji, a professor at The University of Alabama in Huntsville, has published an article that will demonstrate a concept of creating concrete structures on the lunar surface without the use of water.

His article, entitled “Unconventional Approach,” has been published this month in Civil Engineering magazine. Traditional concrete comprises a binder — cement and water — mixed with aggregates. While some parts of the Moon may have water, that resource may be more valuable for astronaut’s consumption rather than building structures….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Homesworldwide.co.uk: The chief economist at ANZ Bank, Saul Eslake, has provided a ray of sunshine for property owners with his bold pronouncement that Australia is unlikely to experience an across-the-board fall in house prices as has occurred in the United States.

While some particularly bearish economists have tipped local house prices falling between 30% and 40%, Eslake says concerns about how high house prices are relative to income are out of perspective….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Hotproperty.co.uk: While house prices have fallen in the UK and will do so into next year, by 2010 they will be on the up again, it has been predicted. Property firm Knight Frank forecast that after dropping in 2008 and 2009, prices would increase by 1.1 per cent across the country in 2010 and seven per cent in 2011.

Central London Property will see prices top the 2007 peak as early as 2012, with others following in the years beyond….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Ameinfo.com: Last week at Cityscape Dubai the rush to buy off-plan property in the emirate was clearly over, or at least resting while the worst global economic crisis since the 1930s raged and global and local share prices plummeted.

Visitor numbers at the show exceeded previous records at some 70,000 but these were mainly made up of sightseers rather than buyers. Fewer real estate projects were launched than had been anticipated, although these included the unveiling of the $95bn Jumeirah Gardens development, Nakheel’s 1km tower and Tameer’s 120-storey ‘green’ tower….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Privateequityrealestate.net: GE Real Estate has made Frank Roseen managing director for GE Real Estate Central Europe. Previously head of asset management for GE Real Estate International based in Tokyo, he will be based in Prague.

The appointment follows the departure of Karim Habra, Christopher Zeuner and Petr Kosar to establish a platform in Central and Eastern Europe for the McLean, Virginia-based JER Partners this summer….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Livemint.com: India’s real estate segment has taken a beating in terms of private equity investment in the third quarter of this year as the inflows into the sector was only $669.7 million, a dip of 73.21% from the second quarter of 2008.

According to preliminary estimates during July-September 2008 period, PE fund flows into the real estate sector stood at $669.7 million, down sharply from $1.66 billion during the January-March 2008 and $2.5 billion during the April-June 2008, Four-S Services said….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Times Online: Billions of pounds are now flowing back into the banks, which means that the mortgage market, and consequently house prices, should - in theory - begin to improve.

As Nicholas Leeming, director of propertyfinder.com, puts it: “This week a faint glimmer of hope has begun to emerge at the end of the credit-crunch tunnel.” However, serious lessons have been learnt and confidence is not what it was. Are we really on the road to recovery? …. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Reuters: With their ban on interest, the Gulf Islamic banks that managed to avoid the types of debt which proved toxic for their conventional counterparts are now praying the global crisis will bypass their property holdings.

Islamic banks, which manage an estimated $1 trillion (576.5 billion pounds) worldwide, do not have the same flexibility as conventional banks in managing balance sheet risks, bankers say. For instance, they cannot reduce exposure to the real estate market by using derivatives….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Business Week: Vulture investors, that other breed of migratory scavenger, are feasting. South Florida is in the throes of a truly hellish real estate bust. Home prices are down 24% in the past year, with many places changing hands for less than half their height-of-bubble values.

The region has seen foreclosures on more than $14.2 billion worth of property this year—a record. Developers can’t sell enough units to pay construction loans. Condo boards are trying to keep the stairwells of their half-empty buildings clear of vagrants. Landlords are renting out units at daily rates to makers of porn films. …. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Times Online: Berlin is pinning its hopes on the young. More than half its population is below the age of 35, media companies are flocking to the city and, with three excellent universities, it is establishing itself as the biotech and research capital of Germany.

The Government has invested €75billion (£59 billion) to improve the infrastructure of the city, enticing expatriates to find a home there or invest in residential properties. This, combined with numerous cultural and scientific places of interest, is only adding to the city’s attraction. …. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Thehindubusinessline.com: The realty sector stocks plunged by eight per cent on the Bombay Stock Exchange in early trade on Thursday owing to panic selling by funds. The realty index dipped 7.71 per cent to an intra-day low of 2,469.09 points. It was later quoting at 2,486.80 points, down 7.05 per cent on the BSE.

Shares of Indiabulls Real Estate plunged by over 17 per cent and stocks of all major realty firms fell in the range of 4-16 per cent in the morning trade on the BSE. …. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From IHT: Richard Waryn has lived in Dubai for only two months but he already is certain that the glitz capital of the Mideast lives up to its go-go reputation. What he is not so sure about is whether to sink his money into the sleek apartment towers springing up everywhere.

With property prices up 40 percent this year - and critics warning that a slide is coming - other potential buyers are asking themselves the same question….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Centrum.cz: The residential property market in the Czech Republic is feeling the impact of the financial crisis and the resulting decrease in demand. Some developers are trying to sell entire residential projects while others are looking for strategic business partners.

“Right now we are getting offers from smaller developers that want to sell their residential projects,” said Petr Fanta, CEO at Skanska Reality. It is not only smaller companies that are trying to get rid of their projects. Sekyra Group, one of the biggest developers in the country, is trying to sell some projects too…… Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Hurriyet.com.tr: Some 30 construction projects lead by Turkish firms risk being suspended after Russia’s economy was hit hard by declining oil and gas prices amid a global financial crisis, Milliyet daily reported on Thursday.

Ali Ihsan Akiskalioglu, head of the Association of Russian-Turkish Businessmen (RTIB) said Russian revenue were mainly depended on gas and oil exports and Russian banks were facing difficulty in sourcing funds from international markets which has led to a funding problem, Milliyet reported. Crude oil slumped more than 50 percent to below $72, its lowest level in 13 months on Thursday, after hitting a record high $147 in July. The sharp decline in oil prices occured as recession fears raised concerns about a prolonged drop in energy demand….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Kbs.co.kr: Apartment prices in Seoul dropped by zero-point-two percent this week, seeing the largest weekly decline in five years. While an increased number of owners have put out their property for urgent sale due to the recent market instabilities, fixers continue to observe, leading to a slowdown in transaction.

Real Estate 114, a property information agency, said on Friday that apartment prices fell throughout all of Seoul, with prices in the so-called “bubble seven” areas dropping up to around four percent compared to a week ago, especially in the Gangnam area and neighboring Seocho district. ….. Full Article: Source

Posted on 17 October 2008 by Laxman |  Email |Print

From Investmentnews.com: Raymond James & Associates Inc. analyst Paul Puryear upgraded eight real estate investment trusts today in the belief that the recent sell-off in the sector has been overdone. “Enough, already!” he wrote in a note. “Given our years of real estate experience, we can recognize compelling value when it appears.”

Mr. Puryear said there’s been an “unprecedented sell-off among REIT stocks” that caused REIT prices plummet more than 30% so far in October. …. Full Article: Source

See more articles in the archive

banner
October 2014
M T W T F S S
« May    
 12345
6789101112
13141516171819
20212223242526
2728293031