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Real Estate Briefing 26.Jun 2009

Experts at odds on world commercial property recovery
Global property lending landscape altered forever
High-net-worths look to real estate amid volatility
US Property looks good in green
America's most expensive homes
Downsized Americans downsize their homes
Brazil property sales on the up
Experts far more upbeat about UK house market
UK House prices - how to get the real story
Head for the trees, says IPD
London prime prices peak
London, Paris top new JLL/Experian retail ranking
French property scheme sells well
Germany's construction orders abroad at record high
More to Malta property investment
Property execs eye second homes in Europe, Africa
Where to invest in property in Cape Verde
Lack of transparency blurs outlook for Bahrain property market
Nakheel likely to offer buyback of $3.5bln Sukuk
Dubai World consolidates real estate functions
South Africa: Real estate market will get worse before it gets better
China's real estate market not yet ready for real-estate investment trusts
Hainan's property investment increases 50 pct in Jan-May
India: Double whammy for investors as property firms skip dividends
Singapore real estate 'not hot' for investors
Quality property investors starting to buy again in Vietnam
How Australia’s housing market is defying the downturn
Australia: Property developers hitting the wall
Property fund looks to team up with property developers
LIC housing finance to set up venture fund
Can you find the bottom in real estate ETFs?
To REIT or not to REIT
8 ways to stay positive in today’s market

Posted on 26 June 2009 by Laxman |  Email |Print

From Reuters: Real estate industry experts are at loggerheads on which commercial property market they expect to bounce back first from the downturn first, after the global financial crisis shredded property values in most countries.

Global real estate investors — roused by prospects of snapping up bargain assets — were still wary of getting caught in a false rally and have been keenly watching for signs of a sustainable recovery……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Reuters: The days of easy borrowing and cheap real estate debt are gone for good, some of the world’s top commercial property executives conceded this week.

Speakers at the Reuters Global Real Estate Summit in London said they had abandoned hopes of ever seeing a return to the halcyon days of credit that fueled an unprecedented bull run in property prices following the turn of the millennium……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Privateequityrealestate.net: The ultra and high-net-worth community shrank by 25% and 15% respectively in 2008, according to the latest Merrill Lynch/Capgemini world wealth report. However, the allocation to real estate rose by 4% - despite a general move towards liquid assets.
Global market dislocations saw many high-net-worth individuals (HNWI) retreat to more liquid assets, including cash and fixed income……..Full Article (Subcription Required) : Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Buyassociation.co.uk: Eco-friendly homes are a rare subject of positivity in a depressed real estate market in the US, according to the National Association of Home Builders.

The organisation says that more builders, renovators and home designers are obtaining its Certified Green Professional certificate while its National Green Building Programme is taking off……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Forbes: There’s been a lot of denial among luxury homeowners. In 2006, it was thought that the luxury market wouldn’t suffer the same fate as the broader market.
A year later, high-end home buyers were thought to have endless, deep pockets, further insulating the top-tier from the cratering economy. As the nation’s markets in 2008 went from bad to worse, some in the industry claimed that the dearth of trophy properties outstripped supply……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Reuters: Not only is the brutal recession driving more Americans into McDonald’s for a cheap meal, but it has also dulled their appetite for McMansions.

Home buyers have lost their enthusiasm for the sprawling houses that cropped up across U.S. suburbs over the past decade. Having learned that property values can go down as well as up, they are flocking to smaller homes that are cheaper to buy, furnish and heat……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Homesoverseas.co.uk: Sales in the Brazil property market appear to be bouncing back, following a subdued year, caused by the economic slump, according to one market expert.

Thomas Shapiro, president of GoldenTree InSite Partners, told the Reuters Global Real Estate Summit that Brazil’s economy is exceeding all expectations and the government’s measures to boost the Brazil property market is proving successful……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Theherald.co.uk: Experts are much less downbeat about the prospects for the UK housing market than they were three months ago.

The average UK house price is now expected to fall 8% this year, remain flat in 2010, and rise by slightly more than 2% in 2011, according to the median forecasts in news agency Reuters’ poll of 35 analysts at banks, building societies, investment firms and consultancies……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Thisismoney.co.uk: We are obsessed with monthly house price figures, but the reality is that none of the UK indices get it right all the time.
Hometrack said house prices remained unchanged last month, Nationwide reported a 1.2% rise and Halifax said the rise was 2.6%. Why is there such a divergence in data?…….Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Propertyweek.com: Investment in forestry outperformed UK commercial property and equities last year, producing a total return of the year of 7%, the Investment Property Databank has said.

UK commercial property delivered returns of -22.1% and UK equities returned -29.9%, according to the IPD UK Forestry Index……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Themovechannel.com: The value of prime residential property in central London is rising for the first time in two years, according to upmarket estate agents Savills.

Prices in the sector have risen by 4.3 per cent over the last three months, dampening concerns that London’s allure as a financial location and home for cash-rich buyers has been damaged by the increase in the top rate of tax. …….Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Propertyeu.info: London and Paris top the new European Downtown Retail Centre Rankings launched by consultant Jones Lang LaSalle and research firm Experian which show the relationship between consumer spending in European cities and prime retail rents.

The new rankings are designed to equip investors, developers and retailers with crucial insights into the best downtown European location opportunities……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Homesoverseas.co.uk: Nearly half of the 27 off-plan apartments in a new French property residence de tourisme scheme at Chantemerle 1350 in France’s Southern Alps have already been sold ahead of its opening in December this year.

Chantemerle 1350 is one of six villages which make up the Serre Chevalier ski resort in the Southern Alps region of France, and occupies two linked chalets close to the ski slopes, mountains, shops and restaurants……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Forbes: The German construction industry achieved record orders abroad in 2008 and expects similar figures this year, the managing director of the HDB industry association told Reuters on Thursday.

‘2008 was a record year for our international business,’ said HDB Managing Director Michael Knipper in an interview. …….Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

A traditional favourite with British holidaymakers, the small island of Malta is hoping to attract the luxury property investor.
Once home to mass-market developments, Malta has learnt from its mistakes in the past and is now concentrating on high-end developments……..Full Press Release: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Reuters: Global real estate markets may be in the worst shape seen for generations, but the dream of owning a second home lives on.

We asked guests at Reuters Global Real Estate Summit to tell us where they would like to buy a vacation residence or city bolthole, and continental Europe and Africa topped the list……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Assetz.co.uk: When it comes to emerging markets, various appeals can be made to buyers, be they looking for second homes or rental accommodation for tourists.
Some places offer ski resorts, such as in Eastern Europe. Many offer dramatic scenery and beaches while others have interesting cities and culture……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Propertywire.com: Off plan property sales in Bahrain have virtually dried up but it is difficult to judge the impact of the global downturn on the real estate sector because of lack of transparency, it is claimed.

Separating fact from fiction is very difficult as the property market is far less transparent than in the rest of the Gulf region and transaction activity is not fully recorded or reported, according to a market overview from consultants CB Richard Ellis……..Full Article (Subcription Required) : Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Khaleejtimes.com: Real estate developer Nakheel PJSC may offer to buy back its $3.52 billion Islamic bonds before they come due in December, Barclays Capital said.

“A tender could be launched in the next few weeks, offering immediate cash payment at a discount,” Alia Moubayed, London-based senior economist for the Middle East and North Africa at Barclays Capital, said in a June 19 report, e-mailed on Thursday. …….Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Ameinfo.com: In a statement released today, Dubai World has said that it has consolidated the real estate functions of a number of entities.
‘The real estate development and property management activities of Dubai Maritime City, Leisurecorp, and Dubai Multi-Commodities Centre will be managed by Nakheel going forward,’ said the group. The process will be completed over the summer……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Realestateweb.co.za: Bad debts, vacancies will rise, warns listed property company CEO of South Africa’s commercial real estate sector.
In its annual report published today, chairman Anton Botha and chief executive Gerhard van Zyl say that although there are some indications that the worst of the downturn had already been seen, the property cycle lags the general economic cycle by between 12 and 18 months and the company was anticipating trading conditions to get worse before they get better……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Chinapost.com.tw: China’s capital markets aren’t ready for real-estate investment trusts and the country should first encourage institutional investors to buy property, the Asian head of an ING Groep NV real estate unit said.
Before introducing REITs, it would be “preferable” for China to have insurance companies and pension funds be active real estate investors, Richard Price, Asia chief executive officer of ING Real Estate Investment Management, said Wednesday……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From China Knowledge: Hainan Province saw property investment total RMB 8.58 billion in the first five months of this year, a year-on-year increase of 49.1%, and overseas investment in the real estate market amounted to RMB 208 million, according to the Hainan Statistics Bureau.

During the period from January to May, residential property investment increased 49.2% year on year and amounted to RMB 7.72 billion, RMB 3.8 billion of which was spent on construction of apartments with a floor area of less than 90 square meters (sq m) each……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Business-standard.com: It’s a double whammy of sorts for the investors in property stocks. On the one hand, prices of these stocks have eroded up to 70 per cent from their 2008 peaks, and on the other, most of the real estate companies that have declared results so far have chosen not to pay any dividends for 2008-09.
Some of these realtors include big names like Indiabulls Real Estate (IBREL), Housing Development and Infrastructure (HDIL) and Parsvnath Developers………Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Asiaone.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

Posted on 26 June 2009 by Laxman |  Email |Print

From Propertywire.com: Vietnam’s property market is showing signs of recovery with quality investors now entering the market as opposed to speculators.

Improved lending conditions are one of the main reasons that people are beginning to put money back into property, according to Peter Ryder, chief executive officer and founding partner of Indochina Capital……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Smartcompany.com.au: The outlook for the global economy has stabilised but recovery is expected to be gradual. Industrial activity is showing early signs of stabilisation and consumer confidence is improving from very low levels.

Financial markets are also improving with equities market gains since early March consolidating and credit spreads narrowing. The Australian economy has thus far avoided a ‘technical’ recession and has been among the best performers globally. While economic growth will remain fragile in 2009, ongoing policy stimulus and support from improving Chinese demand will soften the blow going forward……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Theaustralian.news.com.au: Property development looked like a solid path to prosperity just 18 months ago but now it has become an obstacle course fraught with risk for entrepreneurs.

Tight access to credit, onerous criteria for warranty insurance and a sluggish market are all combining to make conditions the worst they have been in decades. …….Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Europe-re.com: Fund manager Managing Partners Limited (MPL), which runs the British Property Opportunities Property Fund, says that a growing number of property developers are facing funding problems on new projects because their banks are freezing their lending until they can demonstrate a certain level of off-plan sales.
Through its British Property fund, MPL is helping property developers overcome this difficult situation by offering to buy some of these properties off-plan……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From WSJ: LIC Housing Finance Ltd. is setting up a 5 billion rupees (about $100 million) venture fund to invest in the Indian real estate industry as the mortgage lender sees demand reviving in the sector, its chief executive said.

“We will finalize partners for the fund within a month and launch it by September,” R. R. Nair, also a board member, told Dow Jones Newswires in a recent interview……..Full Article (Subcription Required) : Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Seekingalpha.com: Although encouraging news has recently been released regarding the real estate sector and the ETFs that track it, many suggest that an immediate recovery is still not imminent.

Signs of trouble in the real estate market still persist: New home sales dropped 0.6% in May, falling short of economists’ forecasts. There’s also a 10-month backlog of new homes……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Moneyshow.com: Investors looking for direct exposure to a broad portfolio of commercial real estate can get it with the iShares Dow Jones US Real Estate.
Real estate has traditionally been viewed as a way to add stability to a diversified portfolio through lower correlations with stocks (though we are dubious about this assertion) and an inflation hedge when compared with bonds……..Full Article: Source

Posted on 26 June 2009 by Laxman |  Email |Print

From Rismedia.com: So many real estate professionals today are wondering, “How can I stay positive in today’s market?” Like any discriminating real estate professional, you realize the value of a positive mental attitude.
Here are eight ways that you can create and maintain a positive mental attitude in today’s market:…….Full Article: Source

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