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Real Estate Briefing 01.Jun 2009

Posted on 01 June 2009 by Laxman |  Email |Print

From Ameinfo.com:Knight Frank, the independent global property consultancy, announed lately the global house price index for the first quarter of the year 2009.

Nick Barnes, head of international residential research, Knight Frank, said:”The world’s housing markets remain under intense pressure with little real evidence of any of the hoped for ‘green shoots’ and even the improvement in performance shown in some countries in the last quarter may yet turn out to be a false dawn according to some commentators…….Full Article: Source

Posted on 01 June 2009 by Laxman |  Email |Print

From Zawya.com: While fundraising for the entire private equity real estate industry has been slow in 2009, funds targeting Asia and Rest of World are having the hardest time raising capital, research said.

Just four such funds have reached a ?nal close this year. From 2005 to 2007, private equity real estate fund managers raised increasing amounts of capital focused on markets outside North America and Europe, with just a small decline in 2008, Preqin data showed…….Full Article: Source

Posted on 01 June 2009 by Laxman |  Email |Print

From Rismedia.com: U.S. home prices fell in the first quarter of 2009 according to the Federal Housing Finance Agency’s (FHFA) seasonally-adjusted purchase-only house price index (HPI).

The previously announced, but revised January and February indexes showed increases in house prices, which were offset by a March decrease. The purchase-only HPI, calculated using home sales price information from Fannie Mae and Freddie Mac-acquired mortgages, was 0.5% lower on a seasonally-adjusted basis in the first quarter than in the fourth quarter of 2008…….Full Article: Source

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From Propertywire.com: More than half of property foreclosures in the US now involve prime mortgages and the real estate market may not stabilize until 2011, it is claimed.

The National Delinquency Survey from the Mortgage Bankers Association shows that foreclosure activity was at an all time high in the first quarter of 2009…….Full Article: Source

Posted on 01 June 2009 by Laxman |  Email |Print

From Marketoracle.co.uk: If you just read the headlines on this week’s data, you could be forgiven for assuming the worst is over — not. And then finally we look at some rather stark comparative data on the health-care systems of the US, Canada, and Great Britain.
Everyone knows the US pays way more in terms of GDP than the latter two countries. Are we getting our money’s worth? There is a lot to cover, and I hope to finish this on a flight to Naples, so let’s jump right in…….Full Article: Source

Posted on 01 June 2009 by Laxman |  Email |Print

From Propertywire.com: Capital growth in the US property market has suffered across the nation with every sector seeing a negative performance, according to the first ever annual index and quarterly indicator.

Capital growth was down 12.2% in 2008 and the US all property income return saw an overall total of -7.4%, says the data Investment Property Databank, the global real estate performance analysis and benchmarking specialist…….Full Article: Source

Posted on 01 June 2009 by Laxman |  Email |Print

From Spokesman.com: As we headed out for a special day of snorkeling, sharing the water with a group of baby sea lions off Esperitu Santo Island in the southern Sea of Cortes, I thought about the headlines that keep North Americans from visiting Mexico.

The reports of crime have slowed the flow of many tourists to southern Baja and many other destinations south of the border, but it has not stopped the steady stream of Europeans, South Americans and Asians. Though much of the violence occurs in border towns, Mexico City has had major problems as has the community of Culiacan, two hours north of Mazatlan…….Full Article: Source

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From Propertyeu.info: The correction in the property market is spreading across Europe. That is one of the key conclusions of the latest European quarterly survey of key indicators for the European property markets from property adviser King Sturge.

The report includes a survey of rents and yields on the office and industrial markets for 22 key locations in Europe, together with outlook and analysis…….Full Article: Source

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From Propertyeu.info: Property investment turnover in Central & Eastern Europe (CEE) was about 32% higher than the monthly average for the first quarter of 2009, according to CB Richard Ellis.
Overall, however, the market remains slow and is relying on investment by German open-ended funds, according to CBRE’s CEE Property Investment MarketView for April 2009. ……Full Article: Source

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From Reuters: House prices in England and Wales were unchanged in May, the first time in 20 months that there has been no month-on-month decline, property data company Hometrack said on Monday.

House prices are still down 9.6 percent on a year ago, but the end of the run of monthly house price falls chimes with more bullish news from mortgage lender Nationwide, which reported house price rises for two of the past three months…….Full Article: Source

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From Financialadvice.co.uk: A number of experts have stepped forward to suggest that the UK commercial property sector is under severe pressure and there is a significant risk of bankruptcies and financial problems over the next couple of years.
One of the areas which have been hit is the shopping centre sector which has suffered a knock on effect from failing retail companies and falling rents…….Full Article: Source

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From Rla.org.uk: Margaret Beckett, Britain’s housing minister, is reportedly looking to reform the way in which lenders launch repossessions against landlords with residential properties.
At the very centre of the proposed reforms is the question of what might happen to tenants if a landlord has his/her property repossessed…….Full Article: Source

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From Myfinances.co.uk: We are nearly half way through 2009, which was predicted to be one of the worst years ever experienced for the UK housing market.

But just how bad has it been, how bad will it get, and was a shock needed to put property prices back in their place? Sarah Garrod gauges the prospects of a bounce or a crash in the property market…….Full Article: Source

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From Reuters: Stricken German bank Hypo Real Estate will need more state support even after a capital increase the German government is pushing through to take full control of the lender, its chief executive said.

“There is a need for more capital after the capital increase that the general meeting will address on Tuesday,” Axel Wieandt told the Frankfurter Allgemeine Sonntagszeitung Sunday paper…….Full Article: Source

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From Questbg.com: Are there green shoots in the Bulgarian property market? With data emerging from various sources, it appears that Bulgaria is again looking attractive for British and foreign property purchasers in the first quarter of 2009.
The UK portal Property Abroad has just announced their results for the first three months of this year and despite the economic crisis and the undeniable slow-down in the property market, Bulgaria is again becoming a sought-after destination…….Full Article: Source

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From Ameinfo.com: Residential real estate investments in six major Turkish cities have caused a profit to the investors in real terms in April 2009, according to Reidin.com, with Istanbul and Bursa emerging at the top of the list by recording profits in real terms of 0.54% apiece; followed by Adana and Ankara, both with 0.52%.
The figures, which were adjusted by inflation rate according to the Consumer Price Index, also reflected 0.51% rate of profit in Kocaeli, and 0.42% in Izmir……..Full Article: Source

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From Countrylife.co.uk: In times of trouble, those who can will run for shelter, but what’s happening to property prices in the traditional havens of Monaco and Geneva?
The Swiss city of Geneva and the principality of Monaco have long attracted the world’s super-rich as tax-friendly money shelters in envi-able locations. Yet since last year’s eruption in the world financial markets and the dark consequences that have flowed from that, these two great tax cities have very different tales to tell…….Full Article: Source

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From Reuters: The real estate market in the United Arab Emirates is beginning to bottom out as prices stabilise, but values could still fall further as more property comes onto the market, HSBC said in a report released on Sunday.

Agreed prices in the UAE rose 4 percent month-on-month in April and 5 percent in May, but were still 23 down from a peak hit in September 2008, the report said…….Full Article: Source

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From Business24-7.ae: Property prices in Dubai are bottoming out with initial signs of confidence returning to the market, new research said yesterday.

“Distressed stock is gradually clearing, with further signs of consolidation as volumes continue to pick up. Also, more recently, mortgage providers have moved to ease their requirements, raising loan-to-value (LTV) and relaxing credit norms, which we view as a further sign of some normalcy returning to the market,” HSBC said in its “Property Ladder” report…….Full Article: Source

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From Reuters: Saudi Arabia plans to set up a Fannie Mae-style company to buy mortgages from financial institutions and help develop national sukuk and debt markets, Saudi Arabia’s finance minister said.

The company would be formed in conjunction with Saudi Arabia’s first mortgage law, which should come into effect before the end of the year, Ibrahim al-Assaf said in an interview in Oman on Saturday…….Full Article: Source

Posted on 01 June 2009 by Laxman |  Email |Print

From Maktoob.com: Qatar’s government will spend $4.1 billion on acquiring the real estate portfolios of nine local banks to boost the domestic real estate sector, Kuwait’s official KUNA news agency reported.

The move involves the government taking over the real estate investment portfolios of Qatar National Bank, Commercial Bank of Qatar, Doha Bank, International Bank of Qatar, Qatar International Islamic Bank, Qatar Islamic Bank, Masraf Al Rayan, Ahli Bank and Al Khaliji Bank, KUNA reported…….Full Article: Source

Posted on 01 June 2009 by Laxman |  Email |Print

From China Daily: The government’s decision to slash the minimum financial requirement for commercial property investment for the first time in 13 years will help ease property developers’ capital strain and stabilize housing prices, analysts said.

The minimum amount of capital needed to jumpstart a new commercial property or an affordable housing project has been lowered from 35 percent of the total project cost to 20 percent, the State Council said in a statement on Wednesday…….Full Article: Source

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From Indiatimes.com: Indian developers went on a drive to amass huge land banks, only to see themselves in deep trouble when the real estate market slowed. Nonetheless, amidst all the gloom and doom surrounding the sector, they have managed to survive the slowdown.
With the successful closure of a number of qualified institutional placements (QIPs), a number of builders have managed to tide over cash flow problems for now. This has turned the tide in favour of the industry…….Full Article: Source

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From Thehindubusinessline.com: Enthused by a strong institutional response to QIP (qualified institutional placement) issues, builders are now anticipating revival of private equity (PE) investments at project level, but real estate funds want to see more sales in the property market before finalising deals.

Mr Pradeep Jain, CMD of Parsvnath Developers, says that PE firms have already started re-entering negotiations…….Full Article: Source

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From Taipeitimes.com: The local property market, which declined amid the global financial crisis in the third quarter of last year, recently regained momentum following interest rate cuts and an increased appetite for investment, local real estate agencies said.

Sinyi Realty Co, the nation’s only listed property broker, said property transactions rose 10 percent in April from a month earlier as people now consider it more cost-efficient to own a house than rent one…….Full Article: Source

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From Propertywire.com: Increasing unemployment in New Zealand is set to stifle any real estate recovery, according to a gloomy forecast from the Treasury.

Property prices are forecast to decline nearly 8% in the year to March 2010 and a further 4% in the year to March 2011. They are already down an annual 9%, it said in a fiscal report…….Full Article: Source

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From Propertywire.com: There is growing speculation the Japanese property market has bottomed out with analysts forecasting an improvement in the economy.

Credit Suisse Group AG said that property manager Nomura Real Estate Holdings operations are improving. Analysts said that the company’s condominium, investment and brokerage operations are outperforming expectations…….Full Article: Source

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From IPE: Ärzteversorgung Westfalen-Lippe was crowned Best European Institutional Investor last night at a glittering event in Amsterdam to celebrate this year’s IPE Real Estate Awards 2009.

The German pension fund picked up three awards in total as along with the platinum title it also won a gold award as Best Large European institutional investor and a silver award as Best Investor in Austria, Germany and Switzerland…….Full Article: Source

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