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Real Estate Briefing 17.Jul 2009

Posted on 17 July 2009 by Laxman |  Email |Print

From Forbes: Property offers alluring prospects to bargain hunters these days. Real estate investment trusts are the best way to get in and out of the asset class.
If you invest in stocks, you probably have a smattering of real estate exposure already……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Bloomberg: Confidence among U.S. homebuilders rose this month to the highest since September as sales of single-family units increased and more prospective buyers expressed interest.

The National Association of Home Builders/Wells Fargo index of builder confidence gained to 17 this month from 15 in June, the Washington-based NAHB said today. A reading below 50 means most respondents view conditions as poor……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From AP: Investors’ appetite picked up this month for a government program aimed at spurring lending in the troubled commercial real estate market.

The program is part of larger consumer lending effort called the Term-Asset Backed Securities Loan Facility, or TALF, which figures prominently in efforts by the Fed and the Obama administration to ease credit, stabilize the financial system and help the economy……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Commercialpropertynews.com: The slightly less hostile financial market during the second quarter cracked open the window for many equity REITs to begin making a bit of progress in easing monetary woes, but according to Fitch Ratings’ new REIT Report Quarterly, a few significant obstacles continue to encumber the sector.

“Equity issuances that occurred during the first and second quarters were a positive for the sector in that it enhanced many REITs’ liquidity profiles by allowing them to address near-term debt maturities,………Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Usnews.com: While the national housing bust has devastated property values, it has also created some outstanding bargain opportunities for would-be home buyers—if you know where to look.
During the first half of the decade, easy credit and speculative fervor sent home prices in certain states—Florida, California, Nevada—scorching to phenomenal heights……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Marketoracle.co.uk: U.S. foreclosure filings hit a record in the first half, a sign that job losses and falling property prices deepened the housing recession, according to RealtyTrac Inc.

More than 1.5 million properties received a default or auction notice or were seized by banks in the six months through June, the Irvine, California-based seller of default data said today in a statement. That’s a 15 percent increase from the year earlier. One in 84 U.S. households received a filing……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Calgaryherald.com: Canada’s housing market has become so much more grounded since the ugly property bust of the last recession that this time around it is one of the most resilient sectors of the economic downturn.

The lessons learned from the housing bust of the early 1990s helped prevent Canada from being tempted down the subprime path that devastated the United States and, combined with record low interest rates and government stimulus, has caused the impact of the latest slump to be less severe and relatively short lived, figures released Tuesday underscore……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Homesoverseas.co.uk: Brazil’s federal savings bank reports that the volume of Brazil property mortgage applications submitted escalated in Q1 2009.

Data released by Caxia Economico Federal (CEF) shows that there was a 75% increase in the number of people looking to secure mortgage finance in order to buy a property in Brazil in Q1……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Propertyweek.com: Two leading property industry bodies have hit out at a European Union regulatory directive which could hamper UK property fund managers.

The Association of Real Estate Funds (AREF) and the Property Industry Alliance (PIA) have both written letters to the Treasury and the Financial Services Authority (FSA) respectively, outlining concerns about the impact of the directive on Alternative Investment Fund Managers……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Economist.com: Already, in the British residential market at least, estate agents are talking as if the crisis is over.
Many people seem to assume that once the recession has finished, property prices can resume their traditional upward course……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Sky.com: Just as estate agents are – as usual – talking up Britain’s battered property market another report, this time by consultants PricewaterhouseCoopers (PwC), says that any signs of recovery in the market are a “false dawn”. Which way do you think house prices are going?

The Royal Institution of Chartered Surveyors (RICS) has cheerily claimed that house prices in London have increased rather than fallen for the first time in 20 months. No real surprises there then……….Full Article: Source

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From Bridgingandcommercial.co.uk: Commercial property tenants in the UK are still struggling to make their rents, putting landlords under pressure.

This is the main finding of the new UK Real Estate Insights report from accountancy firm PricewaterhouseCoopers (PwC)……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Dow Jones: The British Property Federation is in preliminary talks with the U.K. Treasury about transferring banks’ commercial real estate loan books into real estate investment trusts, BPF’s director Peter Cosmetatos said Thursday.

“We are in preliminary conversations with the Treasury about what role the REIT structure could play in recapitalizing the banking sector,” he said……….Full Article (Subscription Required) : Source

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From Retail-week.com: Land Securities, the UK’s biggest real estate investor, has said that the worst of the rout that has swept through the commercial property market may be over.

The landlord, which owns a total of 1.8 million sq m of retail space worth £4.3bn, has laid out plans to reverse the downward trend that has caused it and almost every other major landlord to sell off large chunks of property and call rights issues over the past year……….Full Article: Source

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From Telegraph: Simon Halabi, one of London’s richest tycoons, has had £1.15bn of debt called in, which could result in the sale of some of the City’s most prominent office buildings.
The Syrian-born property entrepreneur has a portfolio that includes JP Morgan’s Alban Gate offices and St Helen’s, headquarters of Aviva, the insurer……….Full Article: Source

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From Reuters: Big discounts in Spain’s office and retail property markets served to attract private investors rather than institutions, which are wary of falling rents, as the rental market remained weak, consultants have said.

The price of prime Madrid office space has fallen 41 percent since its mid-2007 peak to some 6,000 euros a square metre, Aguirre Newman’s head of research, Javier Garcia-Mateo, said……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Expatica.com: The drop in housing prices in Spain, where a property bubble burst last year, picked up speed during the second quarter of 2009, falling 8.4 percent over the level at the same time last year, the housing ministry said on Wednesday.

By comparison, housing prices fell at a 6.8 percent annual rate in the first quarter and a 3.2-percent annual rate in the fourth quarter of 2008 as builders struggled to unload inventories accumulated during a decade-long property boom……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Propertyweek.com: The Bulgarian commercial and residential developer said that the benefits of being AIM listed were outweighed by the ‘costs incurred in maintaining such a listing.’

The company is the latest in a series of overseas property funds to leave AIM this year……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Globalarabnetwork.com: The financial crisis may be causing project delays and slower growth, but large, young populations and economic development goals mean that demand for real estate in the Middle East and North Africa region remains high.

It has long been a strategy for countries in the Middle East and North Africa (MENA) to develop their real estate sector as a way of diversifying the economy away from a reliance on hydrocarbons resources……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Ameinfo.com: Property units in areas seen as prestige developments and those that offer completed amenities and ease of commuting access to business zones have begun to see an increase in pricing, as buyers in the Dubai market continue to increasingly highlight differentiation between communities, according to a market report.
A report on the Dubai property market in the second quarter of the year has concluded that some areas may have already hit the bottom of the pricing cycle……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Livemint.com: Large realty firms are likely to report lower revenues and net profits in the three months to June from a year ago because of lower demand, lower prices and huge debts.
Analysts, however, expect that when the companies report results for the June quarter, there might be some improvement from the preceding three months, signalling that demand might have returned slowly and financial restructuring has helped……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Indiainfoline.com: The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has suggested review in Real Estate Regulator Bill in its current shape since many of its provisions are harsher and inimical to industry and concerned stakeholders.

Contrary to expectations, the draft bill does not allow Real Estate Regulator to act as an impartial arbitrator between industry/developer and various government agencies on one hand and the industry/ developer and consumers on the other……….Full Article: Source

Posted on 17 July 2009 by Laxman |  Email |Print

From WSJ: A growing number of Japanese firms are looking to invest indirectly in the property sector by buying the management rights to real-estate investment trusts rather than buying land, buildings, mortgage loans or REITs themselves.

Buying the manager of a REIT gives investors an easier and less expensive way of gaining control of the trust and of tapping a market with steady returns……….Full Article (Subscription Required) : Source

Posted on 17 July 2009 by Laxman |  Email |Print

From Brokernews.com.au: Investors are being lured back into the property market by strong rental yields and an overall improvement in confidence and market conditions, reports RP Data.

Using ABS statistics to determine the ratio of owner occupiers to investors in the residential market, RP Data confirmed that at the beginning of 2008 both investors and owner occupiers’ finance committments started to trend downwards in direct correlation to rising interest rates and the bite of the GFC……….Full Article: Source

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