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Real Estate Briefing 21.Jul 2009

Posted on 21 July 2009 by Laxman |  Email |Print

From Reuters: The U.S. housing market is showing signs of stabilization, according to inventory data released on Monday by national real estate brokerage ZipRealty.

Emeryville, California-based ZipRealty reported a drop in the number of Multiple Listing Service-listed homes for the 12th consecutive month in June…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Rismedia.com: The U.S. housing market continues to show signs of stabilization with a drop in the number of Multiple Listing Service (MLS)-listed homes for the twelfth consecutive month.
The number of single family homes and condos listed for sale according to MLS data decreased in June 2009 from May by 2.1%, bringing the total number of active listings in 28 major U.S. markets to 696,858, according to national real estate brokerage……Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Reuters: U.S. commercial property prices plunged for a second straight month in May as distressed transactions weighed, but the pace of decline may signal a bottoming process, Moody’s Investors Service said on Monday.

Office, retail and apartment building prices declined 7.6 percent in May from April, compared with a record drop of 8.6 percent in the previous month, according to the Moody’s/REAL Commercial Property Price Indices…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Themoscowtimes.com: Russian millionaires are returning to the United States property market, lured by distressed sales and the ruble’s rise against the dollar, lawyer Edward Mermelstein said.

“The way many look at the United States right now is that it’s a bargain,” said Mermelstein, who has arranged about 300 real estate deals for buyers from the former Soviet Union since 2007. ……Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Reuters: LaSalle Investment Management on Monday said investor sentiment in the European commercial property sector had stabilised, that repricing had found a floor and that there was rising interest in the UK market.

In its 2009 Mid-Year Update, the U.S. real estate investment firm said, looking forward to 2010, investors should capitalise on the reversion to more sustainable pricing in commercial property, although deals will need to withstand falling rents…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Propertywire.com: Rents in all commercial property sectors in Europe are affected by weak economic conditions across the continent in the second quarter of this year, according to a new report.

But it is the office sector that has been hit hardest. In a survey of 49 office locations some 26 saw prime rents fall, 23 were unchanged with none experiencing an increase, the latest index from CB Richard Ellis shows…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Businessgreen.com: Global real estate services giant Jones Lang LaSalle has revealed it is to roll out its green property consultancy services in key European markets, in response to growing interest from firms keen to reduce energy bills and carbon emissions across their office estates.

The company’s Upstream Sustainability Services division last month launched its Third Dimension sustainability risk mapping service in France and the Netherlands and is planning to take the service into the German market before the end of the year…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Financialadvice.co.uk: A survey from Rightmove, the UK estate agency, has apparently shown that UK property prices rose by 0.6% last month, which was the fifth consecutive month of increases.
When you consider that the Council of Mortgage Lenders also announced a 17% month on month increase in mortgage lending to £12.3 billion it could seem to many that the UK property market has turned…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Building.co.uk: Hopes of recovery boosted as Rightmove reports 0.6% rise in July, ending June’s brief return to decline.

Property asking prices returned to growth in July, following a fall in June, boosting hopes that the housing market may be past the worst of the crisis…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Investorschronicle.co.uk: UK commercial property has now recorded two consecutive years of monthly declines. So the only way is ‘up’, right? Not quite.
The Investors Property Databank (IPD) UK Monthly Index figures on 14 July revealed a shallow 0.9 per cent fall, but the peak to trough of property values now stands at – 44.1 per cent…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Citywire.co.uk: Nationwide; Halifax; Department of Communities and Local Government; Land Registry; Royal Institute of Chartered Surveyors; Rightmove; Hometrack; Chesterton…the list goes on and on and on.……Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Independent.co.uk: A sharp rise in mortgage lending last month reflects seasonal trends rather than a sustainable pick-up in the housing market, economists warned yesterday.

Total mortgage lending hit £12.3bn in June, the Council of Mortgage Lenders revealed, more than 17 per cent up on May’s figure of £10.5bn, and the highest monthly total this year…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Independent.co.uk: We have written a lot about the ills of the Alternative Investment Market (Aim) in recent weeks, with many pieces detailing the lack of liquidity and the particular difficulties of some sectors in a downturn.

But if there was ever a bull market punt gone sour, it is Bulgarian Land Development (BLD), the Sofia-based property group…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Ameinfo.com: Residential property rents in Dubai have fallen to their lowest level in three years and could drop even further, reported 7days newspaper, citing interviews with local real estate agents.
Tenants can now rent a studio apartment in International City for just Dhs26,500 a year - down from Dhs60,000 six months ago, the report said…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Zawya.com: A smattering of construction workers amble around the Jumeirah Lake Towers development in Dubai, but the roads are somnolent and the ubiquitous desert dust wafts around the development, undisturbed by human habitation.
JLT is a landmark mixed-use development of 87 towers along the arterial Sheikh Zayed Road, and was supposed to provide housing and offices for tens of thousands of residents and workers……Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From AFP: An extreme-right Israeli organisation plans to coordinate the purchase of dozens of properties in Jordan by European Jews, the group’s head said on Monday.

The Israel Land Fund, which has bought land and dozens of houses in occupied Palestinian territory in east Jerusalem and the rest of the West Bank, is now eyeing property once owned by Jews in neighbouring Jordan, its chairman Arieh King told AFP…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Propertyeu.info: Investors remain committed to Asian non-listed real estate funds, although they have put short-term allocations on hold, according to the latest research from Inrev, the European association for non-listed real estate funds, in cooperation with sister organisations Area and Prea.

The results of Investment Intentions Asia 2009 show that at 50%, twice as many investors intend to increase allocations to Asian non-listed real estate funds in the medium term (3-5 years) versus 24% in the short term (1-2 years)…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Chinadaily.com.cn: Beijing’s commercial real estate market, faced with an oversupply and rising vacancy rates, will remain under downward pressure in the second half of this year despite a strong recovery in the residential sector, industry experts said.

“On the back of a current supply glut in the Grade A office sector, depressed market conditions likely will persist through the remainder of 2009,” said Alice Wood, director of the commercial property division in the Beijing office of UK-based property consulting firm DTZ Holdings PLC…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Bloomberg: New home prices in 36 medium- and large-sized Chinese cities rose 6.3 percent in June from a year earlier as bank lending tripled in the first half.

The average price of new homes rose to 6,554 yuan ($959) per square meter, the National Development and Reform Commission said on its Web site today…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Jlmpacificepoch.com: China Banking Regulatory Commission’s (CBRC) Shanghai bureau has asked local banks to tighten loans for second houses, reports Beijing Star Daily.
Purchasers of second homes must pay a down payment of 40% of the total property price and will be charged interest at 110% of a national base rate, said Liu…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Seekingalpha.com: I have wanted to discuss more on the real estate sector for a while even though I have to confess I am far from being an expert on the topic, and this in a market which even the experts find terribly confusing.
What the real estate market is really telling us about underlying monetary conditions and the health of the economy is one of the most debated topics in China, and one on which there is the widest range of views – itself an indication of future expected volatility…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Chinastakes.com: Real estate markets in China’s eastern cities are going crazy. Investors are rushing to big cities to get into the housing market, possibly portending approaching inflation.

On July 17 in Nanjing, capital city of Jiangsu Province in central eastern China, 3175 people bid for over 600 apartments, prompting the developer to suspend the sales and bring in government overseers to supervise the process. The bidding was broadcast live on the Internet to guarantee the whole process was fair…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Chinaknowledge.com: Since March, housing prices in 70 major Chinese cities have stopped declining and begun to rise. But why has China seen such a strong rebound in its real estate market this year?
Estate sales area is also rising. In the first half of 2009, estate sales area in China rose 31.7% year on year. Sales area grew more than 100% in Xiamen, Fuzhou, Ningbo, Shenzhen, Hangzhou, Wuhan, Tianjin and Suzhou…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Reuters: Developer KWG Property Holding Ltd said on Monday it expects China property prices to rise more slowly in the second half of 2009 after a sharp rebound in the first half, as Beijing moves to stabilise the market.

Property prices in China were up by an average 10-15 percent in the first half of 2009, but the gains are likely to slow to single-digits for the remainder of the year, Chief Financial Officer Hoffman Tsui told Reuters in an interview…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

Mumbai is still the most preferred destination to invest in property, while Chennai takes the first place for property investments in South, over Bangalore. IndiaProperty.com has released their online survey report, which showcases the ‘Trend in residential space across top cities in the current scenario’.

The survey received over 3,000 respondents and most of them showed interested in buying residential property now. The analysis was to study customer views on the current market condition & if they are keen on buying residential property…….Full Press Release: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Homesoverseas.co.uk: Australia property prices at the luxury end of the market have plummeted by up to 46% since the peak of the market, according to various reports in the country.

The Weekend Australian reports that banker, Glenn Willis, who previously headed the Australian arm of Lehman Brothers, the US investment bank that collapsed last year, has sold his northern Sydney house for AUS$8m (£3.9m) less then it was valued for at the peak of the market late last year…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Homesoverseas.co.uk: New Zealand property prices fell to their lowest level in over two years in Q1 2009, falling 9.3% year-on-year, according to data released by the government valuation agency, Quotable Value New Zealand.

Average New Zealand property prices fell by 1% in the first quarter of this year, the fifth quarterly decline in succession, the index shows…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Seekingalpha.com: Investors attempting to gain exposure to the housing market/real estate will either play the housing market through buying an actual property or turn to the stock market for investment products.
Typically the investors will turn to REITs (real estate investment trusts), home builder stocks, or an ETF that invests in the areas. I will offer 2 unique approaches to the real estate sector; one an ETF and the other a REIT…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Structuredproductsonline.com: Direxion has launched two new exchange-traded funds (ETFs) which give three times leveraged exposure to the MSCI US Real Estate Index.
The Direxion Daily Real Estate Bull 3x Shares offers 300% of the daily upside performance of the index, whereas the Real Estate Bear offers 300% of the downside…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Asianinvestor.net: Professional investors in Hong Kong can now access a new sustainable real-estate fund through Sarasin Bank on a private basis.
The bank has issued what it says is the world’s first fund to specialise in shares of listed sustainable property companies - those that are involved in the sustainable construction and management of properties, either through company shares or via real-estate investment trusts…….Full Article: Source

Posted on 21 July 2009 by Laxman |  Email |Print

From Wealth-bulletin.com: Avenue Princesse Grace is the most expensive street in the world to buy property, where $120,000 (€84,985) will purchase just one square metre of prime real estate, according to a survey by Wealth Bulletin.
Prime residential property on the top 10 most expensive streets in the world saw their overall value fall by 12% in the last year, the survey found, with European streets faring better than their US and emerging markets counterparts…….Full Article: Source

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