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Real Estate Briefing 01.Jul 2009

Global companies reports optimism in the real estate community
Patience is a virtue in the housing market
Bumpy recovery in the U.K.
UK Property deals increase for first time in two years
Residential property sector in Britain set to improve
UK: House prices to soar 17 percent
UK second-best construction market
Property investors turn to land for the future
Russians lead demand for super expensive property in central London
Britain’s gain, Spain’s pain in house price data
Spanish house prices fall at record pace
German funds see higher net inflows in May
Dubai: Recovery to be 'gradual and sustainable'
Home prices rise in further hope for Dubai property
Realty expects positive impact of Dubai 2020
UAE- Ras Al Khaimah creates real estate regulatory body
Iraq: the next property hotspot
No crisis for Sudan property market
South Africa property shortage
Indian developers associations sets out demands to revitalise real estate industry
South Korea's National Pension to spend bulk of $2 bln in property in H2
Korea needs transparent property market
S.Korea rules out drastic steps on housing market
Taiwan property prices to decline until March: Ministry of Interior
Singapore sales rise
Stability returning to NZ housing market
Carlyle raises $1.04 bln for latest Asia fund
U.S. REIT ETFs lag while global funds rally
3 foreign real estate ETFs with shocking momentum
ProLogis receives $840 mln in 2Q gross proceeds on divestitures
Eurohypo places EUR 1.5bln 10-year mortgage Pfandbrief
Property fund looks to team up with property developers

Posted on 01 July 2009 by Laxman |  Email |Print

From Rismedia.com: While sales figures may not yet reflect it, optimism in the real estate community has definitely increased concerning the housing market, according to a recent survey of member brokerage firms of Leading Real Estate Companies of the World.

Over 63% of brokers indicated that the mood of consumers has improved since the beginning of 2009, which is also reflected in the outlook of sales associates………Full Article: Source

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From Timesonline.co.uk: “Prediction is very difficult, especially if it’s about the future,” Niels Bohr, the Nobel-winning physicist, once pointed out.
Britain’s economists and potential homebuyers alike were left with a sense of frustration on Tuesday as the housing market continued to behave with complete disregard for what forecasters have been predicting for this year. In short, house prices have risen again………Full Article: Source

Posted on 01 July 2009 by Laxman |  Email |Print

From WSJ: Industry experts say the United Kingdom’s commercial-property market, which is key to its economic growth, is starting to recover.

But that recovery is nuanced: While prime real-estate values are stabilizing, property companies are facing declining rents, difficulties obtaining financing and the prospect of growing unemployment, which means most companies will keep struggling next year………Full Article (Subscription Required) : Source

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From Telegraph: Investment in London commercial property has risen for the first time in two years, raising hopes that the troubled market may be recovering.

Deals worth £1.43bn were completed in central London in the second quarter of 2009, according to property agents Cushman & Wakefield (C&W), an increase of 110pc on the first three months of the year………Full Article: Source

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From Rla.org.uk: According to a report published by the National Association of Estate Agents (NAEA), Britain’s troubled residential property sector has hit rock bottom and is now on the road to recovery.
The two factors which together made a previously booming sector go bust were the unavailability of mortgages and real estate prices that fell by dramatic proportions………Full Article: Source

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From Express.co.uk: House prices are set to rise by more than 17 per cent this year, says the most optimistic forecast since the recession began.

By the end of last year, property values had dropped by 22.5 per cent – but just five months into 2009, and the market has rallied so strongly that a top property investment firm has switch-ed its position on prices………Full Article: Source

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From Cnplus.co.uk: The UK offers the second-biggest opportunity for international construction companies after the US, according to research by international accountants BDO Stoy Hayward.

Spokesman Richard Kelly notes that in the US, the $150 billion (£90 billion) earmarked in the economic stimulus package is the biggest infrastructure investment since the country`s highway system was built in the 1950s………Full Article: Source

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From Financialadvice.co.uk: While the UK housing market is starting to show signs of stabilisation, and potential recovery, there is still a long way to go for many people to recoup the outlay on their homes.
While there are, in the opinion of many people, still various opportunities in the property market, a number of investors are now looking towards land as an investment for the future. So is land the way ahead?……..Full Article: Source

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From Propertywire.com: Prime residential property prices in central London rose 1.7% in June, the third successive monthly increase due to an increase in confidence from wealthy real estate investors.

The most expensive sector, properties selling for £10 million and more, saw prices rise up to 1.9% during June, according to the latest price index from Knight Frank………Full Article: Source

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From Euronews.net: There is mixed news for two of Europe’s big housing markets. UK property prices rose for the second month in a row, provding further evidence the slump in the market there may by bottoming out.

A survey by the Nationwide building society showed prices were up by just under 1 percent, leaving them less then 10 percent down on a year ago………Full Article: Source

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From Reuters: Spanish house prices fell at their fastest pace on record in the first quarter, after new house prices dropped for the first time, and analysts saw double-digit declines ahead as unemployment spirals.

Home prices fell 7.6 percent between January and March compared to a year earlier, marking 12 months of decline, after a 5.4 percent drop in the fourth quarter of 2008, the National Statistics Institute (INE) reported………Full Article: Source

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From Propertyeu.info: German open-ended property funds (GOEFs) recorded close to EUR 698 mln in net inflows in May, up from the EUR 556 mln booked in April and a sharp increase on the EUR 128.6 mln registered in the same month a year ago, according to new statistics from investment fund body BVI.

Average net inflows over the five months to end-May amounted to EUR 2.3 bn, compared with EUR 3.7 bn over the year-earlier period, the BVI figures show………Full Article: Source

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From Zawya.com: Recovery in Dubai’s real estate sector will be “gradual and sustainable” with pent up demand from mid-management professionals, according to a developer.

“The fact that there is a general consensus regarding the end of the downturn is important, but we should now be looking ahead and asking ourselves, how do we make the recovery sustainable, indeed what will sustainable look like?” said Mohammed Nimer, CEO, MAG Group Properties………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 Zawya.com: 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 Menafn.com: A statement released by the Ras Al-Khaimah Investment Authority (Rakia), the body overseeing the emirate’s growth, said that it has created a property regulator to safeguard investors and ensure construction funds are not misused, Reuters reported.

According to the statement, the Rakia Real Estate Regulatory Authority (Rera) will oversee the implementation of the escrow account law for freehold property under Rakia………Full Article: Source

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From Manchesterconfidential.co.uk: Iraq, once a crazy idea, has become an ideal place for investment. Its economy, though plagued by war, is dominated by oil, agriculture and tourism.
Despite the volatility in the market, huge returns can still be made. Kurdistan’s capital, Erbil, has seen huge rises in foreign direct investment………Full Article: Source

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From Hotproperty.co.uk: “The Sudan real estate market has not felt the global financial crisis. In fact, the capital of the country, Khartoum, has experienced an enviable boom.

Local and foreign investments in the Sudanese real estate market have been encouraged by the rise of oil production in the country, along with the Comprehensive Peace Agreement signed in 2005………Full Article: Source

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From Homesoverseas.co.uk: Sepp Blatter, President of FIFA, football’s world governing body, fears that there could be a shortage of South Africa properties to accommodate the 450,000 overseas nationals expected to visit the country in June 2010 for the Football World Cup.

Jaime Byrom, the executive chairman of MATCH, the firm responsible for sourcing accommodation for FIFA VIPs, estimates that at least 55 000 residential properties in South Africa will be required to house those people attending the football tournament next year………Full Article: Source

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From Propertywire.com: Providing more affordable properties and the redevelopment of slums is the key to the future of the real estate industry in India, it is claimed.

A series of recommendations sent to the India government in the run up to the Union Budget, emphasize the need to expand this sector of the real estate industry which could add 1 to 1.5% to gross domestic product………Full Article: Source

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From Forbes: South Korea’s National Pension Service (NPS), the world’s No.4 pension fund, has earmarked the bulk of its $2 billion second-half 2009 alternative investment budget for property investment, an official said on Tuesday.

NPS is planning to put $2.5 billion in alternative investments for this year, of which $500 million has already been used to buy property, bank loans and other opportunities………Full Article: Source

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From Koreaherald.co.kr: The government yesterday launched an advisory board for foreign investors on the country’s real estate market as part of its efforts to promote foreign direct investment in times of economic downturn.

The 13 foreign and local experts will help address difficulties in making investments and provide their views on Korea’s real estate market, officials said………Full Article: Source

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From Forbes: South Korea has no plan to toughen home-backed lending controls but will persuade banks against excessive lending to the housing market, the head of a top financial regulator said on Tuesday.

‘The authorities will at first try to prevent a surge in housing prices by trying to manage home-backed lending through financial companies,’ Kim Jong-chang, governor of the Financial Supervisory Service (FSS), said at a business forum………Full Article: Source

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From Etaiwannews.com: Taiwan property prices will continue to decline through to the first quarter of next year, according to a government survey.

The property-market leading indicator, which gauges conditions for the coming three quarters, dropped 1.76 percent in the three months to March, the fourth consecutive decline, the Ministry of the Interior said in a report Monday………Full Article: Source

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From Homesgofast.com: Private property transactions in Singapore rose in May to 1,688, which is close to the all-time record of 1,731 that was reached in August, 2007.
The Urban Redevelopment Authority (URA) data is an encouraging sign that the property market in Singapore is already on the rebound………Full Article: Source

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From Smh.com.au: A June snapshot of the residential property market showed stability returning, says the website Realestate.co.nz.

According to the website’s June report, released on Wednesday, the number of new listings declined for the fourth consecutive month and was down 24 percent compared to June 2008………Full Article: Source

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From Asianinvestor.net: Global private equity firm Carlyle Group has closed its fourth Asian growth capital fund, Carlyle Asia Growth Partners IV (CAGP IV), for which it raised a total of $1.04 billion in commitments.

Managed by Carlyle Asia Growth Capital Partners, the fund invests in high-growth private companies with strong local management and leading market positions in China, India, Korea and other key Asian markets………Full Article: Source

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From Seekingalpha.com: As the first half of 2009 draws to a close, it seems that we’re finally starting to see things return to some semblance of normality.
Equity markets have rallied sharply since bottoming out in March. Volatility is back within its historical range after hitting record highs over the past year………Full Article: Source

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From Seekingalpha.com: If there’s a more beleaguered and battered segment of investing than real estate, I haven’t seen it.
The iShares Dow Jones US Real Estate Fund is down -14% in 2009 after 6 short months; it dropped approx -40% in 2008 and nearly -20% in 2007………Full Article: Source

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From Easybourse.com: ProLogis (PLD) expects $840 million in gross proceeds this quarter from divestitures and fund contributions as the warehouse real-estate investment trust continues to focus on reducing debt.
Chief Financial Officer William E. Sullivan said that with the proceeds, the company will have slashed its debt by a quarter since Sept. 30, exceeding its goal of deleveraging by at least $2 billion by the end of the 2009. There is also no remaining debt maturing this year………Full Article: Source

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From Propertyeu.info: Eurohypo, a subsidiary of Commerzbank, has issued its third jumbo Pfandbrief this year.

Within just a few hours on 25 June, the bank - Europe’s largest Pfandbrief issuer and the leader in the German jumbo Pfandbrief market - placed a 10-year jumbo mortgage Pfandbrief with a benchmark volume of EUR 1.5 bn for the second time since the start of the financial market crisis………Full Article: Source

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From Propertyeu.info: Fund manager Managing Partners (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

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