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Real Estate Briefing 07.Jul 2009

Posted on 07 July 2009 by Laxman |  Email |Print

From IPE: Real estate investments still make up over half of the alternative assets managed by external managers on behalf of pension funds, and despite the economic downturn, suggests a study conducted by Watson Wyatt.

The consultancy firm’s annual Global Alternative investments Survey found real estate asset managers dominate the top 100 alternatives managers assessed within the study, accounting for 58% of the assets held in alternatives by pension funds………Full Article (Registration Required) : Source

Posted on 07 July 2009 by Laxman |  Email |Print

From Assetz.co.uk: Year after year the same destinations top the lists of the most popular places for people to invest in property.
At the end of last month, Primelocation reported that Spain accounted for 30.53 per cent of all overseas property searches in May 2009, ahead of France (27.01 per cent), the US (14.34 per cent), Italy (6.24 per cent) and Portugal (5.93 per cent). ……..Full Article: Source

Posted on 07 July 2009 by Laxman |  Email |Print

From Theglobeandmail.com: The commercial real estate market is experiencing a slowdown as businesses trim costs and make do with less – including office space.

Dale Willerton is founder of The Lease Coach, an Edmonton-based consulting firm that represents tenants and has operations in Canada and the United States………Full Article: Source

Posted on 07 July 2009 by Laxman |  Email |Print

From Forbes: Before the housing crash extended beyond foreclosure-ridden exurbs, the average homeowner used to (foolishly) believe that his neighborhood was immune.
Today, even underwater homeowners merely take heart in knowing that other neighborhoods in the same city are worse off………Full Article: Source

Posted on 07 July 2009 by Laxman |  Email |Print

From Forbes: Real estate might be seeing a seasonal uptick, after the RPX index for housing prices in U.S. metropolitan cities was up in April.

Welcome again to our lively discussion of property investments and the economy. We’ve assembled our panel of real estate experts: Donald Trump Jr. of the Trump Organization, Peter Slatin of Real Capital Analytics and Michael Feder of Radar Logic, all based in New York………Full Article: Source

Posted on 07 July 2009 by Laxman |  Email |Print

From Movesmartly.com: The Toronto Real Estate Board reported 10,995 sales in June 2009, a 27% increase over the same month in the previous year and the highest June sales on record.

Toronto’s real estate market continues to suffer from an extreme shortage of homes for sale………Full Article: Source

Posted on 07 July 2009 by Laxman |  Email |Print

From Propertyeu.info: European property investors appear to have largely put the gloom behind them after a significant deterioration in sentiment in the second half of 2008, according to Union Investment’s Investment Climate Index.

The index rose for the first time since autumn 2006 in France and the UK. Union Investment said this reflected growing confidence among investors in those countries with regard to both their own business prospects and the state of the property market in general………Full Article: Source

Posted on 07 July 2009 by Laxman |  Email |Print

From Independent: The UK’s construction sector faces a “lost decade” after a record slump in output during 2009 and another three years of pain, an industry body warned today.
The Construction Products Association (CPA) says the industry will not see a “significant increase” in output until 2012 and is braced for a 16 per cent decline this year………Full Article: Source

Posted on 07 July 2009 by Laxman |  Email |Print

From Wealth-bulletin.com: The UK property market has some of the most attractive opportunities in the world, according to US asset manager Franklin Templeton, which has made its first property investment in more than a year with a UK opportunity fund.
Jack Foster, managing director of real estate at the company, which manages $5bn (€3.6bn) in private equity real estate and listed property funds, said the UK market “has corrected more quickly than any other market”. ……..Full Article: Source

Posted on 07 July 2009 by Laxman |  Email |Print

From Propertyeu.info: The UK commercial property investment market stabilised further in June, according to real estate adviser Cushman & Wakefield’s new Business Briefing.

Of its 25 key yield indicators, none have risen and six have marginally fallen as the weight of money from mainly overseas investors chases prime UK property assets. A further nine yield indicators are under pressure to fall in the near future………Full Article: Source

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From Telegraph: The Government is to amend a key regulation surrounding Real Estate Investment Trusts (Reits) following pressure from the industry.
In final amendments to the Finance Bill, the conversion of Budget proposals into law, the Government has tweaked the rule that Reits must maintain a profits to finance charge ratio of 1.25:1………Full Article: Source

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From Mortgageintroducer.com: Property investors from Europe and the rest of the world are turning to Scotland’s housing market as they look to make new investments in bricks and mortar.

Overseas buyers are taking advantage of favourable exchange rates and lower house prices in order to snap up properties in Scotland – which has been hailed as a sign that the country’s property market is taking the first steps to recovery………Full Article: Source

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From BBC: Property prices will nose-dive in NI if the Irish Republic’s new toxic assets agency dumps developments on the market, Stormont ministers have warned.

Finance ministers from both sides of the border are to hold emergency talks over fears the north could be swamped with repossessed homes and offices………Full Article: Source

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From Wealth-bulletin.com: German open-ended property funds are set to turn the corner “earlier than expected”, eight months after funds holding half the assets in the sector stopped investors from withdrawing their money, according to analysis by a property services company.
The sector has been under significant pressure since October, when 12 funds with about €31bn ($43bn) between them imposed gates to stop investors removing their money………Full Article: Source

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From Kyero.com: The way things are going it will soon be rare to see a crane in Spain. The figures for new housing starts say it all.
Not long ago, before the credit crunch brought people to their senses, everywhere you looked in Spain the horizon was bristling with cranes, especially on the coast………Full Article: Source

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From Homesoverseas.co.uk: Dubai property prices are provisionally starting to stabilise as the market embarks on the road to recovery, according to Sherwoods Independent Property Consultants.

The company expects residential prices to start appreciating by Q4 2009, followed by a year of ‘stability’ in 2010………Full Article: Source

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From Zawya.com: The real estate sales activity in Kuwait continued to decline during May, falling to its second weakest level in five months.

A total of 314 sales transactions were registered at a value of KD80.1 million (Dh1.02 billion). The sales volume fell 17 per cent from the previous month. The residential sector saw moderate growth with value and number of transactions rising by three per cent and seven per cent, respectively………Full Article: Source

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From Homesoverseas.co.uk: Prominent Qatar property developer, Alfardan Properties, has unveiled plans for its premier residential seaside scheme, One Porto Arabia, in Doha.

The contemporaray tower offers a wide range of residential units and is the first available waterfront residence at the beginning of Qatar’s most exclusive marina location, The Pearl Island………Full Article: Source

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From Realestateweb.co.za: Homes continue to shed value this year, but the residential market expected to improve early 2010. New stats for small, medium, large houses.

Absa’s House Price Index, released on Monday, showed South Africa’s house prices continuing to shed value. However, the bank’s analysts expect the residential market to improve in early 2010………Full Article: Source

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From MarketWatch: Chinese property stocks were trading broadly higher on Monday, the latest move in their strong rally this year as mainland China’s property prices continued to rise amid expectations government policies will keep supporting an apparent economic recovery.

But the steep rally was also raising concerns on the mainland that the spike in property was reaching “unsustainable” proportions. ……..Full Article: Source

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From Propertywire.com: Residential property sales in India are trickling back in some sections of the market, but industry watchers say a rebound is months away as buyers in the world’s second-most populous country await further price corrections.

Developers have begun new projects after a year-long hiatus and are also swapping older premium project proposals for cheaper ones to restart sales as they try to beat a severe cash crunch………Full Article: Source

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From Nytimes.com: Developers were sure that high-end residential properties would sell well in the area around the twin Petronas Towers — after all, the neighborhood known as the Kuala Lumpur City Center already had a concert hall, upscale shopping and dining, four-star hotels, a business district and an ultramodern convention center.

So now, after a few years of furious building, the area has 4,000 apartments and 6,000 more are expected to be finished by 2012. And that’s not counting the some 30,000 luxury units available elsewhere in the city………Full Article: Source

Posted on 07 July 2009 by Laxman |  Email |Print

From Visabureau.com: Australia has been placed at number one in a list of the best countries in the world for property investment. China and Japan also held top places on the list of the best countries for property investment in an annual survey of the investment intentions of the world’s largest global real estate investors.

Falling property prices and the lower Australian dollar has pushed the Australian property market the top of the list, although Australia wasn’t even mentioned in the Investment Intentions Asia Survey last year………Full Article: Source

Posted on 07 July 2009 by Laxman |  Email |Print

From Bloomberg: Mitsubishi Corp. UBS Realty Inc., manager of Japan’s largest commercial property fund, will consider buying other real estate trusts this year when the government increases industry support.

“Our aim is to keep growing so takeovers are one of our missions,” Yuichi Hiromoto, president of Mitsubishi UBS, said in a July 3 interview, declining to comment on potential targets. “The government fund will encourage mergers and acquisitions.” ……..Full Article: Source

Posted on 07 July 2009 by Laxman |  Email |Print

From IPE: PGGM Investments, the Dutch pensions asset manager, will in future scrutinise all real estate investments under environmental, social and governance (ESG) terms as part of its strategy to encourage all companies to abide by responsible investment principles.

Marcel Jeucken, manager for responsible investment at PGGM, said the move is an extension of the body’s responsible investment policy which was first outlined in 2006………Full Article (Registration Required) : Source

Posted on 07 July 2009 by Laxman |  Email |Print

From IPE: The California State Teachers Retirement System made a total commitment to real estate of just $41.1m (€29.3m) in the first quarter of 2009, compared with over $1bn in the same period last year.

The activity demonstrated by one of the US’ largest pension funds is now typical of many of the large public pension funds in the United States as most funds are finding they are over-allocated thanks to the denominator effect of falls in asset values elsewhere………Full Article (Registration Required) : Source

Posted on 07 July 2009 by Laxman |  Email |Print

From Theregister.co.uk: Google has juiced its efforts to bypass Craigslist and other real estate classifieds sites, adding a new property-listings search contraption to Google Maps.

This morning, with a down-under blog post, Google announced the addition of direct real estate listings to the Australian incarnation of Google Maps, and a similar service is available in the States as well………Full Article: Source

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