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Real Estate Briefing 03.Jun 2009

Posted on 03 June 2009 by Laxman |  Email |Print

From WSJ: While the U.K.’s banks and real-estate investment trusts are struggling with plunging commercial-property values, a cluster of specialist funds and companies that have been raising cash to scoop up bargains are doing deals and raising more cash to prepare for bigger buyouts.

Equity-rich buyers and those with good banking relationships are benefiting from rivals’ woes, buying assets at prices below book value. Many of the buyers are small players and the deal values are small, however……..Full Article (Subscription Required) : Source

Posted on 03 June 2009 by Laxman |  Email |Print

From Qck.com: According to industry insiders, pension funds are increasingly beginning to look to commercial property lending as a profitable asset class.

Several lenders are launching secure funds for institutional investors, which are financed by pension funds. Others have reported that pension funds seem increasingly interested in taking a more proactive stance to lending to commercial property investors as a means of boosting their income…….Full Article: Source

Posted on 03 June 2009 by Laxman |  Email |Print

From CNN: Despite near universal criticism of their many missteps during the credit bubble, the ratings agencies aren’t irrelevant just yet.

Commercial real estate investors discovered as much last week, when an announcement by Standard & Poor’s doused the spring rally in the beaten-down market for commercial mortgage-backed securities, or CMBS…….Full Article: Source

Posted on 03 June 2009 by Laxman |  Email |Print

From Hotnews.ro: The investments in the real estate markets in Central and Eastern Europe (CEE) recorded approximately 100 million euros in April.

The sum paid for five transactions, representing a lower figure compared with April 2008, but it is a 32% increase against the medium figure recorded on the real estate market during the first 2009 trimester, according to real estate consultancy CB Richard Ellis’ report…….Full Article: Source

Posted on 03 June 2009 by Laxman |  Email |Print

From Telegraph.co.uk: UK housing market activity is picking up according to the latest data published on Tuesday, with a rise in mortgage approvals in April and the construction sector stabilising.
Bank of England figures showed mortgage approvals rose for the fifth month in a row in April to a one-year high of 43,201. That was higher than the 41,000 expected and an increase of 3,163 compared with March…….Full Article: Source

Posted on 03 June 2009 by Laxman |  Email |Print

From UK Press: The Press Association: Economic recovery hopes have been fuelled further after survey figures revealed the slowest pace of decline in construction activity for more than a year.

The embattled construction sector saw a marked easing in the rate of contraction in the housing market last month, according to the Chartered Institute of Purchasing and Supply’s (CIPS) purchasing managers’ index…….Full Article: Source

Posted on 03 June 2009 by Laxman |  Email |Print

From BBC: The number of new mortgages approved for home buyers in the UK rose in April for the third month in a row, according to the Bank of England.

Lenders approved 43,201 new loans to home buyers, although the number of loans to people changing lenders or topping up existing loans fell again…….Full Article: Source

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From Bloomberg: Hypo Real Estate Holding AG will need more government aid even after the capital increase by Germany’s bank-rescue fund that the property lender is seeking shareholder approval for today.

“While today’s proposed capital increase is a vital part of the whole recapitalization of the company, it’s not sufficient,” Chief Executive Officer Axel Wieandt told shareholders at an extraordinary meeting in Munich today. He didn’t estimate the additional amount required…….Full Article: Source

Posted on 03 June 2009 by Laxman |  Email |Print

From Questbg.com: The latest Knight Frank report on world property prices was published last week, showing most markets to be still in a general downturn.

Some countries bucked the trend with increases in year on year property prices, including Bulgaria. Others fared less well, particularly Dubai and Singapore, down 32% and 23% respectively…….Full Article: Source

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From Bloomberg: Latvian property prices plunged the most in the world in the first quarter as the economy fell into the steepest recession in the European Union, a survey by Global Property Guide showed.

Average apartment prices in the Latvian capital, Riga, plummeted an annual 50 percent in the first quarter, the survey showed. The second-worst performing property market was Dubai in the United Arab Emirates, where house prices fell an annual 35 percent in the quarter…….Full Article: Source

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From Balkaninsight.com: Real estate agents, only four months ago, were adamant that residential property in central Belgrade could not drop in value, but recently released Q1 results for 2009 show a 15-25 per cent drop in apartment prices.
And Colliers International, a real estate agency, is predicting a further 10-15 per cent drop by the end of 2009 due to changes in how tax is calculated and ongoing market uncertainty…….Full Article: Source

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From Propertywire.com: Property investors are returning to the Abu Dhabi real estate market, according to a new report but there is virtually no interest in off plan projects.

Stabilising prices is one reason that more property sales are going through with real estate now more attractive, says the latest sales price index from consultants Landmark Advisory…….Full Article: Source

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From Ameinfo.com: DTZ, one of the top global real estate advisory firms, today released its second market report on Qatar giving detailed insight into the country’s real estate sector.
Analysing the residential, commercial, industrial and retail sectors, the report predicts stable growth across all these asset classes…….Full Article: Source

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From Arabianbusiness.com: Office rents are unlikely to rise in Qatar until the end of 2010, a new report said on Tuesday.

With high levels of supply coming to the market and dampened demand due to the global crisis, rental rates would be under pressure in the medium term, according to research by global property adviser DTZ on Qatar’s real estate market…….Full Article: Source

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From Arabianbusiness.com: Property industry experts on Tuesday said the UAE’s visa plan for expatriate homeowners was key to kick-starting the real estate market.

At the start of last month, the UAE government issued a decree granting foreigners the right to a six-month renewable residency visa if they owned properties worth at least AED1m ($272,300m)…….Full Article: Source

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From Propertyweek.com: Panic selling by Dubai property speculators is driving prices down, eroding confidence and making banks reluctant to lend, the CEO of MAG Group Properties said yesterday.

A mass sell-off by speculators, whose frenzied buying and selling of off plan properties before the global crisis contributed to Dubai’s housing crash, is ‘undercutting the fair market price’ according to Mohammed Nimer, the boss of developer MAG Group Properties, which has a portfolio worth AED3bn……Full Article: Source

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From Allafrica.com: FNB property strategist John Loos yesterday said that selling due to financial pressure was a key driver of supply.

Last month’s decline in house prices represented a deterioration on the revised 9,2% rate of year-on-year decline recorded in April. Month on month, the rate of deflation was 3% last month …….Full Article: Source

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From Propertywire.com: The property market in Australasia is experiencing a mixed ride with some parts of the region reporting signs of recovery and others still struggling.

In New Zealand the latest published figures show that the numbers of new property listings have declined for the third month in a row, with listings in May dropping a further 5% on April…….Full Article (Subscription Required) : Source

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From Propertyweek.com: Credit rating agency CRISIL has started grading real estate valuers with the very first grading announced for a Mumbai based valuer.

The grading of real estate valuers is expected to facilitate benchmarking for the valuers and also help banks, housing finance companies, real estate mutual funds, select real estate valuers for specific valuation assignments…….Full Article: Source

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From RTTNews: Tuesday, Hong Kong’s Land Registry said sale and purchase agreements for residential units totaled 11,788 in May, up 42.3% from the previous year. Month-on-month, transactions grew 19.6%.

The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry was 13,067 in May, up 17.2% from April…….Full Article: Source

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From Chinadaily.com.cn: China’s seemingly healthy real-estate market recovery is being eclipsed by the increasing number of returned property.

While many big cities like Xi’an and Nanjing are all witnessing the same phenomenon, Beijing seems to be taking the heaviest toll with some projects’ ratio of returned property as high as over 30 percent…….Full Article: Source

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From Guardian.co.uk: Dutch financial group ING’s real estate arm is launching a second China property fund, targeting to raise $500 million to $750 million as China’s home prices stabilise, a senior executive said on Tuesday.
The China Opportunity Fund II will make nine to 10 investments with average deal sizes of $50 million to $75 million, mainly in residential development, Richard van den Berg, China head of ING Real Estate, told Reuters. The fund is expected to generate an internal rate of return (IRR) of 20 percent or more…….Full Article: Source

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From Bloomberg: Nomura Real Estate Holdings Inc. fell the most nearly three weeks in Tokyo trading after the property developer said it will raise as much as 64.1 billion yen ($667 million) from the sale of new shares.

The stock declined 4.8 percent to 1,585 yen as of the close on the Tokyo Stock Exchange, the sharpest slip since May 14. The company was the third-biggest loser among 1,655 companies on the MSCI World Index. ……Full Article: Source

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From Bloomberg: Indiabulls Real Estate Ltd., India’s third-biggest developer, was downgraded at Deutsche Bank AG, which cited the gains in the shares, a possible sale of warrants and “weak demand” for its Mumbai office projects.

The shares were lowered to “hold” from “buy,” Deutsche Bank analysts Abhay Shanbhag and Prakash Agarwal wrote in a report yesterday. They increased their share-price estimate by 18 percent to 183 rupees, the report also said. ……Full Article: Source

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From Thehindubusinessline.com: Indian realty major Parsvnath Developers plans to raise Rs 500-750 crore through private placements of shares by the end of this month for reducing the company’s debt and completion of its ongoing projects.

In the first phase, the company is likely to raise $100-150 million (Rs 500-750 crore) through qualified institutional placements (QIPs), sources said…….Full Article: Source

Posted on 03 June 2009 by Laxman |  Email |Print

From Commercialpropertynews.com: During the fourth quarter of 2008 and first quarter of 2009, the fundamentals of the apartment industry steadily eroded, and the forecast for rental demand remains uncertain. Still, the overall outlook for the multi-family REIT sector is stable, according to a report by Moody’s.

One factor buoying the sector are the remaining troubles in the single-family home market. For now, landlords face little pressure from households choosing homeownership…….Full Article: Source

Posted on 03 June 2009 by Laxman |  Email |Print

From BBC: House prices around the world dropped further in the first quarter of 2009 as the global recession worsened, with Latvia seeing the largest falls.

Out of 32 countries studied, 27 saw price falls over the year to the end of March 2009, property researchers the Global Property Guide said…….Full Article: Source

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