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Real Estate Briefing 30.Jun 2009

Posted on 30 June 2009 by Laxman |  Email |Print

From WSJ: Investors who purchased exchange-traded funds tracking real estate investment trusts in hopes of diversifying their portfolio against stock-market shocks have been sorely disappointed.

REITs, which let individuals invest in commercial real estate, have been thumped by the recession and tight lending markets. The companies manage specific types of properties such as shopping malls, apartments and storage facilities……..Full Article (Subscription Required) : Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Propertywire.com: Real estate analysts are now looking ahead to a recovery in global property markets but few agree on where the green shoots might appear first.

Global real estate investors, keen to snap up bargain assets, are keenly watching for signs of a sustainable recovery……..Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Forbes: Metros where folks have enough money for everyday expenses, and spots where daily budgets eat up a sizable chunk of incomes.
If you’ve scaled back your summer vacation and swapped dining out for eating in, you’re not alone. Americans everywhere are sweating their daily expenses……..Full Article: Source

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From Reuters:The end of the decline in real estate is nowhere near, and yet U.S. banks may feel it shrewd to hold onto troubled loans in the sector rather than sell them or take losses.

“Many of them are remembering that the ’sit on the loan, wait it out, work it out’ strategy did pay off for those with the capability and patience to do that back in the early ’90s,” according to Jacques Gordon, global strategist at LaSalle Investment Management……..Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Themovechannel.com: A growing number of overseas property investors are optimistic about the future prospects for the USA property market, with the vast majority expecting to see an industry recovery by the end of the second quarter of 2010, according to a survey conducted by the Association of Foreign Investors in Real Estate (AFIRE).

Respondents estimated that USA property investment levels will soar moving forward……..Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Bloomberg: Fannie Mae and Freddie Mac’s federal regulator said home prices may be “bottoming” in the U.S. as government efforts to bolster the market gain traction.

“We’re in a process where we may be seeing some bottoming,” James Lockhart, director of the Federal Housing Finance Agency, said in an interview on CNBC……..Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Propertywire.com: Property buyers in the US are looking at smaller places and are increasingly seeking out smaller homes that are cheaper to furnish and heat.

As a result developers are looking to build smaller properties and make a point of offering well insulated homes and those with eco friendly features. They are also cheaper to build……..Full Article (Subscription Required) : Source

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From Pionline.com: Blackstone Real Estate Partners Europe III was closed at $3.1 billion, exceeding its $2.5 billion fundraising target.

This is the second real estate fund Blackstone Group closed this year. In April, Blackstone Real Estate Partners VI was closed at $10.9 billion……..Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From FT Alphaville: BNP Paribas analysts are worried about the health of the UK’s commercial real estate sector.
In a note released on Friday, they warned that a “combination of rising vacancy rates, falling rentals and extraordinarily difficult financing conditions will almost certainly drive UK CRE losses higher.”…….Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Thisismoney.co.uk: A surge in buyers coupled with a shortage of new properties for sale is propping up house prices, it is claimed today.
The number of buyers registered with estate agents has risen by 36% in the last six months, while the number of homes on the market is up by just 6.4%……..Full Article: Source

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From Dow Jones: The U.K. government’s plan to treble investment in social housing to GBP2.1 billion in the next two years was welcomed by housing associations Monday, but analysts said it wouldn’t help the U.K.’s housebuilders, who remain in the doldrums following the collapse in U.K. house prices.

U.K. Prime Minister Gordon Brown Monday said the government will treble its investment in so-called social housing, to GBP2.1 billion from GBP600 million, enough to create 110,000 new affordable houses……..Full Article (Subscription Required) : Source

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From Estateagencytimes.co.uk: The commercial property sector in the UK is reported to be in negative equity of up to £50bn, says Savills.

William Newson, head of valuations at Savills commented that the amount of negative equity was estimated at around 22 per cent of the £225bn of debt outstanding to commercial property……..Full Article: Source

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From Propertyeu.info: Henderson Global Investors SGR has launched two new real estate funds dedicated to the Italian real estate market. The investment vehicles, DSPF1 Italia and DSPF2 Italia, are closed-end funds reserved for institutional investors.

They will focus on offices, retail and logistics property, both existing assets and developments, all over Italy……..Full Article: Source

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From Bloomberg: Romanian housing starts declined at a faster pace in May as wage growth and lending slowed and interest rates remained the highest in the European Union.

Housing starts slumped an annual 29 percent in May to 4,475, compared with a decline of 21 percent in April, the Bucharest-based National Statistics Institute said in an e-mail today. Warmer weather boosted starts 9.9 percent on the month……..Full Article: Source

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From Business24-7.ae: Hosting large-scale events such as the World Expo and the Olympic Games in 2020 will have a positive impact on the real estate sector, but developers must not over-build in anticipation, said real estate analysts.

“Dubai does have a lot of attributes in order to hold such large-scale events and the Government of Dubai is sending a strong message to the world by announcing the Dubai 2020 initiative……..Full Article: Source

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From Thenational.ae: Home prices in Dubai rose this month, showing more signs of stabilisation in a market that has seen prices fall by as much as 40 per cent since October, analysts said yesterday.

Average prices increased by about 6.5 per cent to Dh1,285 a square foot in 13 major locations around Dubai compared with the previous month, according to a report by Deutsche Bank……..Full Article: Source

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From Khaleejtimes.com: The planned merger between Emaar Properties and three units of Dubai Holding is likely to unleash a wave of consolidations in a property sector beset by excess supply, shriveling demand and an abundance of developers, UAE property analysts say.

Mergers and buyouts could help real estate companies streamline their operations and trim payrolls and thus reduce their costs during the downturn, analysts said……..Full Article: Source

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From Business24-7.ae: Abyaar Real Estate Development is planning to acquire a real estate company listed on the Kuwait Stock Exchange, according to person familiar with the deal.

“There are talks for acquisition of Sanam Real Estate Company,” said the source……..Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Mb.com.ph: Asian property firms are beginning to see light at the end of the tunnel and several are positioning for an upturn even as the world economy struggles to recover from its worst recession in decades.

The mood among US and European executives at the recent Reuters Global Real Estate Summit was glum, but Asian counterparts were more upbeat with some revealing plans for new projects in anticipation of an upturn later this year……..Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Thestar.com.my: Analysts believe Prime Minister Datuk Seri Najib Tun Razak will make announcements to further liberalise property ownership by foreigners and boost the attractiveness of Malaysia for investment at the annual Invest Malaysia 2009 conference today.

Following UBS Research’s bullish call on the property sector on June 19, HwangDBS Research yesterday also upgraded its call on the sector, on the back of potential positive policy changes to lift the sector, sales bottoming out, attractive incentive schemes and the resumption of new launches……..Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Reuters: Japan’s real estate investment trust market climbed to an eight-month high on Monday as investors grew more optimistic about the sector’s financial health and analysts forecast more upside ahead.

Along with property stocks, Japan’s REIT market was hit hard as the global financial crisis pushed down property values and squeezed financing, driving investors out of the market……..Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Seekingalpha.com: Realty Income is a superior company for a dividend strategy, whether the sub-strategy is current income or accumulating wealth through dividend growth.
The company has paid monthly dividends without a miss since 1970, and it has raised dividends for 47 consecutive quarters–almost 12 years……..Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Reuters: Private equity firm Blackstone Group has hired a Deutsche Asset Management executive to a new position running its capital raising and other operations across Asia Pacific, the firm said on Monday.

The hire comes as Blackstone, one of the world’s largest private equity companies, increases its presence in Asia. …….Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Realestatechannel.com: Willco Companies, a locally owned and managed commercial property development and investment firm founded in the early 1960’s with a five million square foot commercial real estate portfolio, will soon close the $100 million Willco Fund I LP.
This Fund, the first in the firm’s history, is targeting equity and debt investments in commercial office, multifamily residential, and industrial income-producing properties in the Washington, D.C. metropolitan area……..Full Article: Source

Posted on 30 June 2009 by Laxman |  Email |Print

From IPE: Henderson Global Investors is aiming to “future proof” its UK real estate assets against the emergence of a sustainability-led two-tier market, the fund manager announced today in its first responsible investment report (RPI).

The report follows the completion, in 2008, of a six-month sustainability portfolio analysis of Henderson’s £3.3bn UK portfolio, conducted by Jones Lang LaSalle subsidiary Upstream………Full Article (Subscription Required) : Source

Posted on 30 June 2009 by Laxman |  Email |Print

From Marketwatch.com: Approximately 75 properties valued in excess of $250 million will be offered for sale in NAI Global’s July Commercial Property PowerSale(TM), an ongoing series of national, multi-seller online auctions and sealed-bid sales.

Approximately 58 of the properties in the July Commercial Property PowerSale(TM) will be offered online via a timed auction format………Full Article: Source

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