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Real Estate Briefing 20.Jul 2009

Posted on 20 July 2009 by Laxman |  Email |Print

From Reuters: Several large investment firms are creating new lending companies that plan to go public to raise billions of dollars to take advantage of the distress in the commercial real estate market, and more are on the horizon.

The planned IPOs, which include units of firms like Apollo Management APOLO.UL and Alliance Bernstein Holding LP, could be just the beginning of what some bankers expect to be a boom in Real Estate Investment Trusts (REITs) going public over the next few years………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Bloomberg: Home resales in the U.S. probably rose in June and a gauge of the economic outlook improved, signaling the recession may soon be over, economists said before reports this week.

Purchases of previously owned homes climbed to an annual rate of 4.83 million, the highest level since October, according to the median of 57 estimates in a Bloomberg survey before the National Association of Realtors’ report on July 23………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From App.com: If you are buying or selling a home in a market glutted with distressed properties, it’s time to change your attitude. Don’t be misled by pundits saying the bottom may be visible in this stultifying decline.
The real-estate recession will continue unless a massive brain freeze thaws. Buyers are afraid of purchasing a home at the wrong price while millions of sellers are locked into unrealistic listing prices………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Propertywire.com: US property market losses could top $387.5 billion as borrowers fail to meet monthly payments or to re-finance, it is claimed.

More than a fifth of the commercial real estate loans securitized in 2007, the peak of the property boom, could be wiped out, says a report from Deutsche Bank………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Seekingalpha.com: There are more factors adding to the downtrodden U.S. housing markets and related shares and exchange traded funds (ETFs) than one may think, but there’s also more and more good news appearing, too.

The most recent good news first: New housing starts and permits have risen for the second straight month in June. Starts climbed 3.6%, reports Reuters………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From CNNMoney.com: Initial construction of U.S. homes and applications for building permits both surged in June, according to government figures released Friday.

Housing starts rose to a seasonally adjusted annual rate of 582,000, up 3.6% from a revised 562,000 in May, according to the Commerce Department………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Propertywire.com: Residential property market sales in Canada are continuing to recover, according to the latest published figures, with June showing the most marked increase with a 17.9% rise.

Overall property sales were up 31.5% in the second quarter of 2009 and up by 1.4% compared with this time last year, the first annual increase since late 2007, the figures from the Canadian Real Estate Association show………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Bloomberg: British home sellers raised asking prices this month to meet increased demand from buyers, Rightmove Plc said.

The average cost of a home rose 0.6 percent to 227,864 pounds ($372,000) after falling 0.4 percent in June, the operator of the U.K.’s biggest residential property Web site said today in a statement. ……….Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Timesonline.co.uk: An important milestone was passed last month, according to the Royal Institution of Chartered Surveyors (Rics). For the first time since May 2007 — before the credit crunch — more surveyors expect house prices to rise, rather than fall, in the next three months.

In a generally upbeat survey, Rics members reported rising demand, increased sales, limited supply and falling stocks. It is still, in many ways, a strange market, with prices apparently stabilising at levels of activity much lower than normal………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Guardian: Sales of luxury homes in Scotland are taking off as cash buyers re-enter the market and foreign investors seek value for money away from London and the south-east.

A surge in interest from potential foreign clients added to recent top-end purchases by domestic buyers has been hailed by estate agents as a positive sign of recovery at the high value end of the property market north of the border………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Telegraph: The German property giant Hypo Real Estate may need at least €10bn (£8.6bn) in fresh capital from the German state to stay afloat, according to the chairman of the oversight board.
The admission is the latest evidence that mounting losses in Europe’s banking system have yet to be tackled………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Propertyeu.info: Some 150,000 m2 of modern warehouse space was completed in the Czech Republic in the second quarter of 2009, according to a study by CB Richard Ellis.

The property adviser said this figure was in line with four-year quarterly average. However, only 68,000 m2 of modern warehouse space is currently under construction in the Czech Republic which is a drop of 90% year-on-year………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Barcelonareporter.com: Banks may withdraw their mortgage offer at the last minute, the purchaser perhaps suddenly loses their job or simply gets cold feet at the enormity of the financial commitment.
As the financial crisis deepens more sales are failing at the eleventh hour with purchasers facing unforeseen circumstances………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Propertyeu.info: Take-up of office, industrial and retail space across the Netherlands halved in the first six months of 2009 compared to the same period last year, according to research by PropertyNL.

PropertyEU’s Dutch language sister publication reports that 53% less office space was taken up in the first six months of 2009. This is the lowest take-up registered in the last 20 years………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Menafn.com: Kuwait is the number one Gulf Cooperation Council (GCC) country investing in real estate, with 21,011 nationals holding real estate property in the region until 2007.

According to a survey conducted by the GCC General Secretariat and published here today, Saudi Arabia came second with 7,507 of its citizens owning real state, followed by the UAE with 4,463 real estate owners, and Bahrain with 3,225………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Thenational.ae: Summers in the UAE are typically languid affairs, with empty roads, deserted shopping malls and company executives taking off for the cooler climates of Morocco or the south of France.

This summer, however, many property executives will probably be spending long hours in their offices planning how their companies will get through the next six months………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Arabianbusiness.com: Downtown Burj Dubai, Dubai Marina, and Emirates Living are starting to see a recovery in property prices, it has been reported.

Real estate prices in New Dubai are starting to stabilise with more people choosing to live there and commute to Abu Dhabi, property experts told Gulf News………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Zawya.com: House is scheduled today to discuss the controversial “Real Estate Rent Law”, known in its previous version as the “Landlords and Tenants Law” after its Legal Committee made a set of recommendations to its provisions.

The committee’s rapporteur, Ayman Shwayyat, said the panel recommended “radically different changes” to the law in a bid to prevent the social upheaval that would occur if the law goes into effect as drafted by the executive branch, he said………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Zawya.com: Early signs of recovery are being seen in certain areas of Dubai as rent and prices stabilise. Downtown Burj Dubai, Dubai Marina, and Emirates Living are the areas starting to see recovery due to their being of higher quality and located in a completed community project, attractive to people commuting to Abu Dhabi.

“Those working in Abu Dhabi are increasingly exploring residential units in New Dubai due to its proximity to the UAE capital………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Business24-7.ae: Investors sitting on considerable negative equity, especially those who have purchased units in the Northern Emirates during the first half of 2008, face a real danger, according to an analyst.

“You have a situation where investors may have purchased a unit for a small deposit with no payments until completion………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Indiatimes.com: There is good news — and it’s coming from above. Across the country, cities are reporting a revival of sales interest in premium residential properties. In many cases, this is happening, even though the values have remained mostly unchanged.
A few cities, however, have attributed the revival to a marginal fall in prices………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From AFP: Former Miss Nepal Malvika Subba had a successful career in television before she gave up showbusiness for the distinctly less glamorous job of selling housing.

“This is where the money is,” the former actress and presenter told AFP in her plush new office in downtown Kathmandu………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Vnagency.com.vn: Provinces and cities around the country will undertake more than 550 housing projects for industrial-park workers, poor people and students under a Government programme, according to the Ministry of Construction.

Last April the Government issued Resolution No 18 to encourage investment in housing for these groups of people………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Thestar.com.my: Bank earnings and loans growth are likely to improve towards the end of the year, bolstered by the recent deregulation of the Foreign Investment Committee (FIC) guidelines on properties as well as easing conditions for new listings and fund-raising activities.

According to a foreign brokerage, property transactions, both residential and commercial, are expected to increase following the relaxation of the FIC rules, which should spur demand for property financing………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From News.com.au: Property investors are storming back into the market, lured by historically low interest rates and a distrust of the stock market after its worst 12-month performance in a generation.

Mortgage brokers say investors have overtaken first-home buyers as the most active sector as applications for the First Home Owner Grant wind down………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Homesoverseas.co.uk: Australia’s economy has so far managed to avoid “catching the recession bug” that has plagued so many other countries around the world thanks to the strong Australia property market, according to Besa Deda, a chief economist at St.George Bank.

Writing on ninemsm’s money section, Deda said: “Economic conditions in Australia have weakened but not yet enough to satisfy the technical definition of a recession………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Investordaily.com: After having sustained large losses during the financial crisis, the real estate investment trust (REIT) industry has started to bounce back as the sector reduces its debt.

The S&P/ASX 200 A-REIT index has increased 39.8 per cent from a record low 546.90 points on 9 March this year to close at 764.70 points on 16 July………..Full Article: Source

Posted on 20 July 2009 by Laxman |  Email |Print

From Rgj.com: Google Inc. may crush all other Internet search portals, yet when it comes to real estate listings, it’s often less of a destination than a pit stop. But will that change?
The Internet search behemoth drives a ton of Web traffic to real estate sites everyday. Still, Google hasn’t made a major play for domination in the online property search market, unlike sites such as Zillow.com, Trulia.com and Yahoo Real Estate………..Full Article: Source

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