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Real Estate Briefing 05.Jun 2009

Posted on 05 June 2009 by Laxman |  Email |Print

From Economist.com: Fears of a general deflation may be receding but in the rich world’s housing markets at least, falling prices are still the norm. Property values are slumping in almost all of the 19 countries in our latest global survey.
The trend is most persistent in America, where prices in the first quarter were 19.1% lower than a year before, according to the national index published by S&P/Case-Shiller. That is the biggest drop since the series began in 1987………Full Article: Source

Posted on 05 June 2009 by Laxman |  Email |Print

From Reuters: There was a 42 percentage point spread between the best and worst price movements in global commercial property in 2008, as currency volatility added to investors’ challenges, a new global index showed on Thursday.”

The Investment Property Databank Global Index, which compares pricing and total returns in 23 of the world’s most mature commercial real estate markets, placed Ireland and South Africa at the lower and upper extremes of the global property pricing changes last year………Full Article: Source

Posted on 05 June 2009 by Laxman |  Email |Print

From Propertyeu.info: The spread in underlying capital values in terms of local currencies across 23 of the world’s most mature real estate markets in 2008 was 42 percentage points from best to worst, according to IPD Global Property Index.
Despite some severe capital falls, the estimated size of the professionally managed global real estate investment market still topped the $4.6 tn (EUR 3.3 tn) mark………Full Article: Source

Posted on 05 June 2009 by Laxman |  Email |Print

From Reuters: Investment in European commercial property fell sharply in the first quarter but there are signs of more investor interest, particularly in Britain, Cushman & Wakefield said.

The volume of investment property sold January-March fell 74 percent to 11.4 billion euros ($16 billion) from the 2008 period, driving average prices 18.5 percent lower over the 12 months, the property services firm said on Thursday………Full Article: Source

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From Superreview.com.au: The UK commercial real estate market is creating more opportunities for investors than Europe at present, a visiting UK fund manager claims.

“UK property valuations have fallen 45 per cent from peak to trough,” said Clavis Walden Investments managing director Iain Keys………Full Article: Source

Posted on 05 June 2009 by Laxman |  Email |Print

From Dailymail.co.uk: House prices had their biggest monthly rise for seven years during May, the Halifax revealed yesterday. They increased by 2.6 per cent but analysts warned activity in the market is still weak and the rise may be a blip.

The lender, now part of the Lloyds Banking Group, warned against putting too much emphasis on one month’s figures………Full Article: Source

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From Bridgingandcommercial.co.uk: A bleak prognosis for the UK’s commercial property sector has been sketched out by KPMG experts. Richard Fleming, head of restructuring at the accountancy giant, said that rising default rates for office and retail space would mark another “milestone” in the recession that has gripped most of the world’s large economies over recent months.

The UK is one of the nations worst-hit by the downturn, with the economy contracting by 1.9 per cent in January-March and a return to growth only expected in 2010………Full Article: Source

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From Hotproperty.co.uk: The British property sector has been called upon to limit carbon emissions from offices, shops and factories, in the spirit of sustainable development. However, despite government policies to implement such limits, The British Property Federation (BPF) said that there is not enough incentive to make greener buildings a reality.

In the property sector, roughly half of the carbon emissions come from the commercial segment. The BPF estimates that this area of property should in theory be the easiest to reduce carbon emissions, but the government is not doing enough to encourage landlords to tackle the problem………Full Article: Source

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From Reuters: Most lenders to Britain’s investment property market will be unable to shrink troublesome loan books for the foreseeable future, despite much of this debt being under water, property services firm Savills said.

At its annual property financing presentation on Wednesday, Savills (SVS.L) estimated 50 billion pounds ($83 billion) out of 280 million pounds of loans arranged in the market’s 2004 to 2007 boom, are now worth more than the underlying properties………Full Article: Source

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From Propertywire.com: Assets tied up in UK agricultural property are massive and offer the opportunity to release equity for other uses, according to a report from real estate and land consultants Savills.

It says that UK agriculture around £11 billion of borrowing secured on assets worth over £170 billion, excluding stocks and growing crops………Full Article: Source

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From FT: Helical Bar, the property developer, said it was well placed to take advantage of opportunities in the distressed real estate market in spite of having to wipe a fifth off its net asset value over the past year.

The company, led by chief executive Mike Slade, reported that its net asset value fell 19 per cent to £2.86 in the year to March 2009. This reflected a fall of a quarter in the value of its investment portfolio to £241m ($389m), and a 10 per cent fall in the value of its trading and development portfolio to £256m………Full Article (Subscription Required) : Source

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From propertyeu.info: The mood in the German real estate industry perked up in May following a brief setback in April, according to King Sturge’s Real Estate Climate survey which forms part of its Real Estate Economy Index. The index rose to 55.6 points, an 8.2% improvement on the April figure of 51.4 points.

The improved mood is reflected in all the indicator values, which rose for the first time this year. The report, conducted on behalf of King Sturge by consultancy firm BulwienGesa, is based on a survey of 1,000 real estate experts………Full Article: Source

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From Homesoverseas.co.uk: Astonishingly, Laura Nicoll, director of Iberian International, believes that it is only a matter of time until there is a housing supply shortage in Spain, in spite of the fact that there are currently over a million homes lying empty in the country.

Some experts’ project that the volume of homes built in Spain could fall to under 200,000 annually, within the next couple of years, to help absorb the current oversupply of homes on the market. But surprisingly, Nicoll believes that this will translate to an “inevitable supply shortage in the coming years”, which will cause an “increase in property prices.”……..Full Article: Source

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From Homesoverseas.co.uk: The number of Cyprus property sales recorded in May fell by 53.2%, taking the reduction since the beginning of 2009 to 60.7% year-on-year compared, according to the latest Cyprus Land Registry data.

The greatest fall in property sales was recorded in the areas of Famagusta and Paphos, down 71% and 66% respectively, largely due to a fall in demand from overseas nationals. Things were not much better in Larnaca, Limassol and Nicosia, where property sale contracts fell by 66%, 54% and 55% respectively………Full Article: Source

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FromForbes : Latvia is now one of the worst casualties of the credit crisis in Europe and its overheated property market is behind the collapse.
Once one of the fastest growing markets in Europe, house prices in the capital city of Riga have plummeted 50.4% in the last year, according to Arco’s own statistics………Full Article: Source

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From Ameinfo.com: Ajman Real Estate Regulatory Agency (Arra) has said in a statement that property developers will have until July 1 to complete the required registration procedures.
‘All property developers who have not completed all the procedures or failed to provide the documents needed for practicing the activity of real estate development in Ajman are advised to take immediate action - otherwise a fine of Dhs100,000 per month will be applied against offenders,’ said Arra Director General, Omar Barguthi………Full Article: Source

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From Financeasia.com: There is nothing unique about Dubai property. Yes, the emirate experienced a property bubble, but so did more mature markets in the US, Europe and Asia. Dubai’s property-related industries will smart over the short term, but in the long term, the market is likely to emerge leaner, meaner and stronger.

As if to spite the downturn, Dubai’s skyline remains speckled with cranes. The slender Burj Dubai, rising at least 629 meters into the sky — it will top out at around 818 metres when complete — sits amid the construction site that is Emaar’s Downtown Burj Dubai development………Full Article: Source

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From Realestateweb.co.za: Yellow Hammer, a groundbreaking auction service provider to the real estate industry - providing the resources and skills to transact property via a new innovative method called “Private Treaty Auctions” - has launched onto the South African market.

“Making use of a concept that is distinct from all other auction companies, Yellow Hammer makes use of the Private Treaty Auction which is a selling tool that combines the private treaty sales approach with a specialised auction method - making use of the efficiency, effectiveness and ease of the auction platform to conclude each sale,” explains Andrew Smith, Director of Yellow Hammer………Full Article: Source

Posted on 05 June 2009 by Laxman |  Email |Print

From Ibtimes.com: Almost as certain as night following day, the booming regional property market has followed the slump in the financial markets. Buyers, previously enriched by their gains in the stock market, are staying away.
Property investors, many of them speculators, basically, are no longer chasing up prices for a quick flip. Many of them are stuck with loans that they struggle to pay - a situation made much worse with property devaluation………Full Article: Source

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From Gulfnews.com: Favourable exchange rates mean that India is now a blossoming real estate source, especially for non-resident Indians (NRIs) in the Gulf.

Many of the properties available in India are already completed and ready to move into, an attractive prospect………Full Article: Source

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From Bloomberg: E-House (China) Holdings Ltd., a Shanghai-based provider of real estate services, is recording “very strong” property sales after volume doubled in the first quarter, Chief Financial Officer Li-Lan Cheng said.

“The rebound is picking up speed,’ Cheng said in a phone interview from New York. “Transaction volumes have been sequentially stronger every week because of lower prices, favorable government policies and pent-up consumer demand.” ……..Full Article: Source

Posted on 05 June 2009 by Laxman |  Email |Print

From Privateequityrealestate.net: Asian alternative investment firm Pacific Alliance Group has appointed Anthony Miller as president and chief executive officer of Pacific Alliance Japan, a newly formed unit of the firm.

Presently, Miller is the president of Ramius Japan, the Japanese operations of alternative investment firm Ramius. Previously, he was a managing director at ARKaccess, an electronic trading company, as well as head of the Carlyle Group’s Hong Kong office………Full Article: Source

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