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Real Estate Briefing 15.Jun 2009

Posted on 15 June 2009 by Laxman |  Email |Print

From Latimes.com: The recession has brought down prices and created opportunities for those willing to take on risks and challenges. Commercial real estate, traditionally a reliable haven for small investors, has shown its dark side in the last year.

Real estate values have come down from their peak around 2006 and operating costs have frequently increased as tenants of such properties as apartment buildings, stores and warehouses have moved out or fallen behind on their rent………Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Reuters: New York City real estate prices are looking increasingly shaky as instability in two of the city’s sexier submarkets — second homes in the Hamptons, and new condos in Manhattan — register the latest signs of a housing downturn.

Property prices in the Hamptons, a fabled playground of the rich on nearby Long Island, rose steadily for almost two decades, but the prices on almost 1-in-3 of current listings have been cut an average 11 percent from the initial asking, said Sofia Kim of real estate website StreetEasy.com………Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Reuters: Rising property vacancies, a lack of debt refinancing, and increased stakeholder scrutiny will pressure UK real estate firms to reform the way they reward senior executives, a report said on Monday.

A steep property market downturn, along with property stocks’ underperformance against the broader share index, means inflationary salary increases and pay freezes are likely to become more prevalent, PricewaterhouseCoopers (PwC) said………Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Guardian: Talk that the housing market may be bottoming out after 18 months of falling prices may cheer the chattering classes of existing homeowners, but for young people it is no cause for celebration.

Jonny Scott, aged 24, from Winchester, says that one day he would like to buy a house or a flat but, despite a 20% drop in prices across the country, that still “seems millions of years away. I don’t even see it as a possibility at the moment”………Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Business24-7.ae: Gulf investors will this year pump close to $1.5 billion (Dh5.5bn) into the United Kingdom commercial real estate market as it approaches the end of its re-pricing cycle, a senior analyst said.

“Close on £800 million [Dh4.83bn] to £900m from the region will be involved in transactions in the UK this year………Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Dailyexpress.co.uk: Germany leads a march of international investors back into London’s commercial property market, with at least three City buildings under offer from cash-rich German funds.

Prices for prime sites in the Square Mile are being driven from cyclical lows by the giant German real-estate funds vying with other European investors and Middle- Eastern sovereign funds for acquisitions. ……..Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Propertywire.com: New legislation in Cyprus aimed at clearing up years of problems with title deeds will only apply to new purchases, leaving tens of thousands of property owners without legal documents.

It is a major blow for property investors on the Mediterranean island, many of them foreigners, as the government has promised to sort out the mess which dates back decades in some cases………Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Globes.co.il: Real estate developers Eliezer Fishman and Chaim Katzman, who both have investments around the world, in virtually every sector, were the first guests in “Globes” real estate forum.
The price of apartments in Israel is about to rise by 10%.. Nobody will build for a 4% margin. So either construction will stop altogether or the price will rise 14%………Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Business24-7.ae: Markets in the UAE are seen edging higher as investor sentiment is boosted by announcements of large projects in Saudi Arabia for some major real estate firms.

Saudi-based Kingdom Holding Co said on Saturday it had appointed Dubai’s Emaar Properties as lead developer of a large property project which will feature the world’s tallest tower. ……..Full Article: Source

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From Thenational.ae: If there is anything people need in the property market in the UAE, it is reliable data. Every week, people are bombarded by different numbers: prices rising, declining, flattening out. Some of it is anecdotal and some is based on actual research.

It’s hard to keep track of it or to know which data to trust………Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Iflr.com: The United Arab Emirates (UAE), and Dubai in particular, is experiencing an unprecedented property boom.
Major developers such as Nakheel, Emaar and Dubai Properties are changing the face of Dubai with developments such as The Palm, Jumeirah, Downtown Dubai and Business Bay respectively. Recent legal changes have been beneficial to the sector, now providing for non-UAE national persons and entities to own real estate in certain designated areas………Full Article: Source

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From Guardian: Bahrain-based Islamic bank Al Salam said on Sunday it acquired London’s Milton Gate office tower from UBS Triton Fund in a deal worth more than $220 million as Gulf Arab investors return to Western property markets.
The bank said in a regulatory statement it acquired the property in partnership with privately owned investment house Evans Randall………Full Article: Source

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From Indiatimes.com: The Indian realty industry has reason to cheer. After a year long gloom, non-residents have started looking at the residential market in the country again, especially high-end projects, say experts.
Inquiries have started pouring in since May, propped by an improving economy, political stability and a bullish stock market and it won’t be long before the interests turn into actual mortgages, the experts added. ……..Full Article: Source

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From Hotproperty.co.uk: China has reported a surge in property sales, with values rising 45.3 per cent from January to May 2009 year on year. According to the National Bureau of Statistics, real estate investment has also grown to 6.8 per cent.

The sale of land in the month of May in Beijing exceeded the total amount for the first four months. This is leading some economists to be optimistic in the recovery of the third largest global economy………Full Article: Source

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From Asiaone.com: The optimism in Singapore’s property market is unsustainable, given an impending over-supply of new flats, weak rental demand and the fact that the country remains in a recession.

That is the pessimistic view of two research houses, which concluded that the price recovery is highly fragile……….Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Propertywire.com: Real estate developers in Vietnam are drawing up strategic partnerships with other investors in a sign that the property market is maturing.

A lot of alliances and partnerships have been set up since the beginning of the second quarter, especially in the Ho Chi Minh City real estate market………Full Article (Subscription Required) : Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Vnagency.com.vn: The price of land and apartments in the capital, especially in the western part, has significantly risen in the past two months, according to industry insiders.

Tran Anh Dung, director of the Ba Dinh Property Service Consultation Company, said prices of land near residential projects in Ha Dong, Tu Liem, Hoai Duc and Dan Phuong districts had gone up………Full Article: Source

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From Bloomberg: Japan’s real estate industry was raised to “neutral” from “underweight” by an analyst at Daiwa Securities Inc., who said the market is expected to bottom out by next March with improvement in credit.

Among ratings changes for specific companies, Daiwa analyst Masato Nakagawa raised Sumitomo Realty & Development Co. to “buy” from “underperform,” Tokyu Land Corp. to “neutral” from “underperform,” and cut Mitsubishi Estate Co. to “underperform” from “neutral.” ……..Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Donga.com: The surging demand for small homes is the hottest trend in the new apartment market.

Smaller apartments of 85 square meters or less are growing popular, while the popularity of mid and large-size apartments, which were far more in demand two to three years ago, has weakened………Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Smartcompany.com.au: Australia’s richest investors might be battered and bruised after a very difficult year, but there are tentative signs they are slowly coming out of their shells once again. And for the super rich, commercial property has become one of the prime hunting grounds for bargains.
A recent survey conducted by Retail Financial Intelligence for the Australian Private Banking Council examined where high net worth individuals (those with between $1-20 million) plan to invest over the next 12 months………Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From News.com.au: Australian house prices will rise by nearly 20 per cent over the next three years, buoyed by the “current heat” in the market surrounding first home buyers.

That’s the forecast from research house BIS Shrapnel’s Residential Property Prospects report - based on data from the Real Estate Institute - released today………Full Article: Source

Posted on 15 June 2009 by Laxman |  Email |Print

From Propertyeu.info: Pirelli Real Estate has confirmed that it is to issue up to 798 million new shares in a capital increase to raise EUR 400 mln.

The operation will take place by means of the issue of new shares, with dividends due from 1 January 2009 and a face value of 50 cents per share, which will be offered to existing Pirelli RE shareholders on a pro rata basis………Full Article: Source

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