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Real Estate Briefing 24.Jun 2009

Commercial property prices 'set to fall'
US home sales rise second straight month in May
U.S. called new emerging market for real estate
US: $6 bln available to buy foreclosed homes
Puerto Rico housing market: The prolonged depression continues
UK: Young Group predicts property stability
UK: Cleaning up the rental sector
UK: 'Steady rise' in mortgage lending
Spanish property: 20% net profit in 4 years?
Over supply and flagging demand puts the Bulgarian property market in doldrums
Bulgaria ranked 4th top real estate investment destination globally
Cyprus Interior Minister gets tough with property developers
No housing market meltdown for Israel
African real estate tempts the brave
Dubai rents headed lower; house prices stable
Dubai: Hint of firmer home prices
Residential rental rates in Qatar to witness upward revision in 2010
Investors expect Asian real estate market recovery to start in 2010
China may ease rules on foreign investment in real estate
Steady recovery expected to continue in Chinese residential property market
Hong Kong office prices swing back up
India: Big developers show path to beat real estate downturn
Singapore: Real estate losing appeal?
Singapore office rents stabilising: CityDev
Vietnam: Buyers advised rational behavior in real estate market
VinaCapital plans $350 mln Vietnam real estate fund
Australia: Property market boosted by Chinese buyers
GE Real Estate looks to debt
Hypo Real Estate sets aside hundreds of millions for bad debt
Israeli billionaire to buy stake in GBP2.3bln UK commercial complex
UN acts to boost responsible property investment
Have we reached bottom? 10 factors to consider

Posted on 24 June 2009 by Laxman |  Email |Print

From Tradearabia.com: Commercial property prices globally will continue to fall this year and will not bounce back before next year, according to a top real estate investment report.

The DTZ Money into Property report 2009 was launched at the Ritz-Carlton Bahrain Hotel and Spa yesterday (June22)…….Full Article: Source

Posted on 24 June 2009 by Laxman |  Email |Print

From Dow Jones: Existing-home sales improved again in May, but falling prices and bloated supply promise to make a housing sector recovery slow.

Home resales rose by 2.4% to a 4.77 million annual rate from 4.66 million in April, the National Association of Realtors said Tuesday. ……Full Article: Source

Posted on 24 June 2009 by Laxman |  Email |Print

From Reuters: Brazil, Russia, India and China move over. There’s another emerging market for commercial real estate opportunities. “Now that the meltdown has happened, the new emerging market is the United States,” Tom Shapiro, president of real estate investment firm GoldenTree InSite Partners, said.

The U.S. commercial real estate crash, in which prices are down more than 20 percent and are expected to fall 40 percent to 50 percent, has created a landscape of what is expected to be a land of vast opportunity for those with cash…….Full Article: Source

Posted on 24 June 2009 by Laxman |  Email |Print

From CNNMoney.com: Home prices are at their most affordable in many years, which has opened up homeownership to many who had been locked out during the housing boom. And now, the federal government — and many states - are launching plans to hook up buyers of repossessed properties with very attractive terms.

The feds made nearly $6 billion available for the Neighborhood Stabilization Program, which intends to combat blight by reducing the number of foreclosed homes on the market. ……Full Article: Source

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From Nuwireinvestor.com: For Puerto Rico, which suffered government bankruptcy in 2006, the global recession could not have come at a worse time.
Now the weakened housing market is continuing to struggle with sales down over 40%, and few signs of a recovery…….Full Article: Source

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From Mortgagesolutions-online.com: Property prices will stabilise and rise during the next 12 months, bringing increasing numbers of buy-to-let investors to the market, according to the latest index results from the Young Group.

Results from the Q2 2009 survey of investor market sentiment have shown increasing numbers of residential property investors are considering purchasing additional UK properties within the next 12 months…….Full Article: Source

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From BBC: The past two years have seen the UK residential property market suffer one of the biggest collapses in living memory, with house prices in most areas down between 20% and 30% on their 2007 highs.

Significant numbers of estate agents have closed down and those that remain are faced with a sales market, which, while improving, remains challenging…….Full Article: Source

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From BBC: Mortgage approvals by the UK’s major banks have continued the steady rise of the last six months, figures show.

The number of approvals for house purchases rose to 31,162 in May, up 15.8% compared with the same month a year ago…….Full Article: Source

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From Kyero.com: To net a 20% profit on a property investment in Spain over four years, property values would need to increase by 10% each year - turning a €200,000 property into €290,000 four years later.

While that’s not impossible, it is extremely unlikely given that, right now, nobody is brave or foolish enough to predict that kind of growth in any European property market…….Full Article: Source

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From Propertywire.com: The global economic downturn and poor management of investments have undermined the Bulgarian real estate market in the first half of 2009 with the office segment being the most severely hit, according to a new survey.

The commercial sector has been badly affected by ample supply and flagging demand, says the survey by Foros real estate agency…….Full Article: Source

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From Novinite.com: Bulgaria has been ranked as the fourth top destination for real estate investments globally in a survey of the properties website Simplyzigzag.de.

The survey has researched the opinion of foreign investors about the most appropriate country for purchasing real estate property at the present moment, the Pari Daily has reported…….Full Article: Source

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From Financialmirror.com: Cyprus Interior Minister Neoclis Sylikiotis, who has been under wide criticism over the delay of the issue of title deeds, has lashed back at developers, saying they are as much to blame for the problem as the government itself.
“We don’t have a magic wand to solve all our problems, as these (problems) have piled up over decades,” Sylikiotis told a packed audience of property developers, surveyors and investors…….Full Article: Source

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From Businessweek.com: Late last year many Israelis decided to put their plans to buy houses on hold. With real estate prices falling in every major Western country, the feeling was that it was just a matter of time before the declines made their way to Israel.
The number of deals in the last quarter of 2008 fell markedly as the global recession began taking its toll on the Israeli economy…….Full Article: Source

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From Reuters: Africa is brimming with undiscovered real estate gems and has begun to intercept opportunistic capital earmarked for China, Brazil and India, a partner in one of Europe’s oldest African real estate advisers said.

Peter Welborn, a partner of private equity real estate fund manager Rutley Capital Partners, said on Tuesday that the African continent presented real estate investment opportunities just as good, if not better, than those seen in Asia or Latin America…….Full Article: Source

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From Maktoob.com: Rental prices for apartments in once-boomtown Dubai are expected to fall further in the third quarter, real estate firm Landmark Advisory said on Tuesday, adding more evidence to reports that prices will drop by another 20 percent before the year ends.

But Landmark Advisory’s Dubai Price Map for June contained a glimmer of hope - sales of distressed properties are largely finished in the emirate as sellers refuse to lower existing prices and buyers, in some instances, paying higher rates for sought-after homes…….Full Article: Source

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From Khaleejtimes.com: Sales prices for homes in Dubai have stopped falling and in some areas are edging upward, though rentals rates continue to drift lower, a property consultancy said on Tuesday.

The findings of Landmark Advisory add to a small but growing body of evidence that suggests at least parts of the emirate’s battered real estate market might be on the mend…….Full Article: Source

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Amidst the new supply of apartments, residential rental rates in Qatar are projected to witness upward revision by 2010 as the two-year rent freeze lapses, according to a recent study conducted by Global Investment House.
In line with this, LifeStyle Homes and Properties, the renowned and reputed real estate sales and marketing consultancy in Qatar, has expressed its optimism about the continuous growth of the real estate market in the country, further stating that the completion of new residential buildings in and around Doha stand as testament to the strength of the local property market…….Full Press Release: Source

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From Channelnewsasia.com: Investors are optimistic that the Asian real estate market will bounce back soon after being battered by the global financial crisis.

A survey by the Asian Real Estate Association (AREA) showed that more than half of the investors polled expect signs of improvements in the market by 2010…….Full Article: Source

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From MarketWatch: China may ease restrictions on foreign direct investment in real estate as part of efforts to help stave off further declines in asset prices, according to a report in a government-backed media outlet Tuesday.

A China Daily report Tuesday cited an unidentified official from the Ministry of Commerce as saying a proposal for easing of taxation, foreign exchange and regulation on foreign direct investment flows had been submitted to the State Council…….Full Article: Source

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From Propertywire.com: The residential property market in China will continue to recover although some analysts are not expecting huge price increases as real estate investors keep an eye on the global economic situation.

Prices nationwide are expected to rise around 10% between now and the end of 2010, according to a poll conducted by Reuters…….Full Article: Source

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From WSJ: Investors are paying top dollar for Hong Kong office space even as the economy struggles and corporate downsizing is forcing landlords to cut rents.

Top-grade office values in Hong Kong’s central business district fell 30% to 40% in the six months to April, real-estate brokerages said. But prices fetched in recent sales indicate the market is rebounding…….Full Article: Source

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From Livemint.com: India’s two largest real estate developers by market value are finding their way out of the woods, say analysts. DLF Ltd and Unitech Ltd are showing the first signs of surviving their worst crisis ever.
The popping of the Indian real estate bubble and a severe funds crunch had left these firms gasping for cash between October and March even as sales halved despite declining property prices. But they have since revamped their business strategy and raised funds…….Full Article: Source

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From Straitstimes.com: Singapore no longer appears on the radar screen of most non-listed institutional investors and fund managers, according to the latest survey by Asian Real Estate Association (Area).

This year’s hottest picks are China, Australia and Japan, said its Investment Intentions Asia Survey 2009…….Full Article: Source

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From Reuters: City Developments (CityDev), Southeast Asia’s second largest developer, said on Tuesday that Singapore office rents have begun to stabilize and it had raised prices for some of its residential projects.

“We are quite optimistic the (residential) market is recovering well and we think there is lots of steam in this recovery,” Group General Manager Chia Ngiang Hong said at the Reuters Global Real Estate Summit in Singapore…….Full Article: Source

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From Thanhniennews.com: As the real estate sector warms up and anxiety rises about inflationary prices, Deputy Minister of Construction Nguyen Tran Nam says buyers should rely on professional advice and not bank on market rumors.

“After a long freeze [over the past year], the number of property transactions and prices have edged up. It is inevitable,” Nam said…….Full Article: Source

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From Reuters: VinaCapital, Vietnam’s largest asset manager, aims to raise $350 million in a real estate private equity fund in September to tap a local sector that it thinks has bottomed, a company official said on Tuesday.

The proposed VinaCapital Vietnam Land II fund will focus on residential developments, shopping malls and business hotels, David Blackhall, deputy managing director of VinaCapital’s real estate arm, told Reuters in an interview…….Full Article: Source

Posted on 24 June 2009 by Laxman |  Email |Print

From Thinkingaustralia.com: Property sales on Australia’s east coast are surging thanks to rising interest from wealthy Chinese buyers.

Chinese home-owners and investors are taking advantage of relaxed foreign investor laws to buy property in and around Melbourne, a move that is fuelling rising house and property prices…….Full Article: Source

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From Privateequityrealestate.net: GE Real Estate is expected to focus its property funds on senior debt opportunities after appointing Skip Wells to lead its expansion into the sector.

Wells was previously managing director of originations within the real estate group’s strategy capital unit. He will now become a part of GE Real Estate’s global investment management team, led by president and chief executive officer Joseph Parsons…….Full Article: Source

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From Propertyeu.info: Hypo Real Estate (HRE), the troubled German lender in which the government has taken a majority stake, warned on Tuesday that risk provisions ‘in the high three digit million region’ will have a significant impact on income in Q2.

The provisions are being made in anticipation of losses to be incurred mostly on real estate loans as a result of the financial crisis and economic downturn, the bank said…….Full Article: Source

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From Bridgingandcommercial.co.uk: The UK’s second largest commercial property company, British Land, has confirmed that it is in talks with one of Israel’s richest men about his property firm buying a stake in their renowned London office complex, Broadgate.
Nochi Dankner is the 55 year-old billionaire behind Property and Building, this weekend announcing that he is in the primary stages of taking a £100 million stake in the London office development…….Full Article: Source

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From Propertyfundsworld.com: The Property Working Group of the United Nations Environment Programme Finance Initiative has launched the first in a series of toolkits aimed at helping investors understand and apply the principles of responsible property investment.

Professor Paul McNamara, co-chair of the UNEP FI Property Working Group and head of research at Prupim, says: ‘It is becoming increasingly clear that there is a growing willingness among property investors to take action and address material ESG issues, such as climate change, which property ownership and management raise…….Full Article: Source

Posted on 24 June 2009 by Laxman |  Email |Print

From Rismedia.com: Historically, the value of real estate goes through cycles. Many factors affect the value of homes including the laws of “supply and demand.”
From the Appraisal Institute, here’s a quick reference guide to some of the factors involved and advice on how to spot a turning point in the market:……Full Article: Source

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