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Real Estate Briefing 04.Jun 2009

Posted on 04 June 2009 by Laxman |  Email |Print

From Bloomberg: Real estate investment trusts in the U.S. may raise about $582 billion by 2013 for acquisitions as competitors sell properties and values fall, the National Association of Real Estate Investment Trusts said.

Publicly traded REITs will probably accumulate about $728 billion, including debt, for purchases, said Brad Case, vice president for research at NAREIT. The group expects the surplus capital to spark property buying by the middle of next year. ……..Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Forbes: Despite the recent devastating downturn in demand for space, real estate investment trusts are coming back with a vengeance. There have been $10 billion in new equity offerings this year, mostly since March.
According to research firm SNL Financial, the median price gain for REITs that sold equity was 35% from Mar. 31 through May 26. SNL’s Equity REIT index, representing all U.S. publicly traded REITs, has gained 28%. This rebound comes after a devastating two years in which REIT shares lost 75% of their value………Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Nasdaq.com: REIT exchange traded funds (ETFs) give investors a broad base of real estate exposure while giving great tax benefits to the corporations that help build them up. They are the latest vehicle of interest for exposure during the markets latest rebound.

The past two years have been brutal for real estate investment trusts (REITs) and the funds that track them. They are regaining their popularity with investors as a cost-effective way to gain market exposure during a possible market rebound………Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Europe-re.com: In May, the survey-based Real Estate Climate of the monthly King Sturge Real Estate Economy Index rose to its current level of 55.6 points, having experienced a momentary setback the previous month. This equals an 8.2% improvement from the April figure of 51.4 points.
The improved mood in the real estate industry is reflected in all of the indicator values, which rose in sync for the first time this year………Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Europe-re.com: The latest edition of the annual Commercial Property Lending Survey conducted by De Montfort University (Leicester, UK) is now available and confirms the impact of the credit crunch on the property lending market.
A headline increase of 10% in the total amount of outstanding loans to commercial property (from £220.4 billion at the end of 2007 to £243.3 billion at the end of 2008) – which was caused largely by the calling down of previously committed facilities and the restructuring (extension) of existing loans – belies a substantial fall in new lending, down 41% in 2008 compared with a rise of 3% in 2007………Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Marketoracle.co.uk: Pending home sales climbed 6.7 per cent in April, which is the highest single monthly jump in about eight years. Pending sales are deals made by a buyer to close on a previously owned home.

Many analysts have begun to speculate the levels of home sales could reach those last seen at the start of the stock market sell-off last year. While pending sales are often seen as a good barometer of the real estate market, many are still concerned that a full recover in housing could be a ways off………Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Telegraph: After a 75pc drop in mortgage approvals, record low transaction volumes and a 22pc fall in average values from their 2007 peak, some indicators suggest a floor has been reached. But the signs aren’t yet conclusive. Further lurches downward cannot be ruled out.

The evidence of stabilisation looks convincing. April saw an increase in buyer enquiries for the sixth month running, according to the Royal Institution of Chartered Surveyors. Mortgage approvals climbed to 43,200 in May, the fifth monthly rise in a row, according to the Bank of England. In November they stood at 27,500………Full Article: Source

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From Theage.com.au: MORE pain is in store for British commercial property investors after fund managers and analysts further cut predictions for the sector and tempered their hopes of a recovery in 2011.

Experts predict property values and rental rates will worsen in the office, industrial and retail real estate sectors, adding to concerns about the ability of property owners to service billions of pounds in bank loans………Full Article: Source

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From Write-about-property.com: From 2005 until the end of last year, the growth in popularity of off plan property and emerging markets with overseas property investors was immense. New EU member states in Eastern Europe are a perfect way to illustrate the flimsy nature of this popularity.

As a state would get on track for EU membership, overseas investors, say from Britain would snap up properties in the country because they were so much cheaper than what could be found back home. ……..Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Haaretz.com: Of all the global real estate markets surveyed by Global Property Guide, Israel’s posted the sharpest increase in housing prices during the first quarter of 2009.

The Guide found that housing prices generally retreated during the first three months of 2009. In fact, globally speaking, the quarter was the worst for home prices since the current crisis began………Full Article: Source

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From Realestateweb.co.za: South Africa is unlikely to see another residential property boom in the foreseeable future and a full-scale revival in residential property is probably two to three years off.

The turnaround point and the beginning of the upswing have already been reached and several encouraging signs are now already evident………Full Article: Source

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From Business24-7.ae: Dubai’s real estate sector is expected to recover by late 2010 with emerging signs of increased activity, industry sources said yesterday.

“In Dubai, we expect a recovery to happen in 2010, although it will not be a sharp one. The real estate market will be a far more matured with competitive mortgage rates and good amount of affordable housing in place by 2010,” said David Macadam, Director Sales and Leasing, Better Homes………Full Article: Source

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From Albawaba.com: Although cash and confidence issues still prevail, Dubai’s property market will witness the first green shoots of recovery sometime between the end of 2009 and the second quarter of 2010.

Attended by more than 100 property executives, legal advisors and investors, the industry forums were initiated to stimulate networking, transparency and open debate on the key issues affecting the Dubai real estate industry which although experiencing a dramatic reversal of fortunes, is now showing signs that the market is stabilising and prices are beginning to bottom-out………Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Businesstimes.com.sg: Mainland Chinese were the second largest group of overseas buyers of private homes in Singapore in the first three months of this year.
They accounted for 18 per cent of the 490 caveats lodged for private home purchases in Q1 by foreigners and Singapore permanent residents, compared with an 11 per cent share in the preceding quarter………Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Cibmagazine.com.cn: The last year has been challenging for China’s real estate market. The real estate investment which accounts for 11.7% *of China’s GDP. This year the market continues to send mixed signals with office rentals continuing to fall in many cities.
At the same time residential sales (transacted area) have seen growth of 88.9 %* over January to April 2009 (compare to the same period last year) in almost all of China’s first tier cities and strong domestic demand appears sustaining the retail sector………Full Article: Source

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From Propertywire.com: Property transactions in Hong Kong property jumped a massive 50% year on year in May, the highest in 11 months, sparking confidence in the real estate market.

The figures from the Land Registry showed that residential property sales alone were up 42%, the biggest increase since February 2008………Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Independent: Hot on the heels of Thailand and Malaysia, Vietnam is positioning itself as the next big destination in Southeast Asia.
The past decade has seen unprecedented growth in tourism and investment, however, a recent slump has seen property prices drop sharply and led the government to relax its laws on foreign ownership………Full Article: Source

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From Chinapost.com.tw: China Credit Information Service yesterday gave a positive outlook for Taiwan’s commercial property and department stores. China Credit said it expected a boost in commercial property in the second half this year.

Demand is expected to increase due to the government’s policy to open the market to mainland investors and to encourage capital from overseas Taiwanese businesses………Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Brisbanetimes.com.au: The pick-up in the New Zealand housing market is unlikely to last, Westpac economists are warning.

Chief economist Brendan O’Donovan and research economist Dominick Stephens predicted low sales volumes and gentle price declines in the second half of this year………Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Propertyweek.com: Tokyo has now surpassed London as the world’s most expensive office market, research from CB Richard Ellis has said.

Prime offices in the Japanese capital’s ‘Inner Central District’ now cost $183.62/sq ft, said CBRE’s ‘Global Office Occupancy Costs’ report, which is measured in US dollars………Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Indiatimes.com: Globalization has taken on new meaning as the credit crisis continues to ripple across economies and real estate markets around the world.

Falling housing prices, record numbers of home foreclosures and further deterioration in the commercial markets continue to weigh heavily on the industry………Full Article: Source

Posted on 04 June 2009 by Laxman |  Email |Print

From Times Business: With the economy deep in recession and property and share prices way below last summer’s levels, Times Money thought it was time to offer readers some much-needed good news to cheer them up.
So here are the ten most positive recent comments on the property market………Full Article: Source

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