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Real Estate Briefing 27.Jul 2009

Posted on 27 July 2009 by Laxman |  Email |Print

From Propertyeu.info: Despite improvements in economic data and a moderation in the pace of decline in capital values in all world regions in Q2, rental expectations deteriorated further in Europe, according to the latest RICS Global Property Survey.

Western Europe was the only developed region where agents turned increasingly pessimistic with European countries dominating the bottom quartile in a ranking of over 50 countries worldwide. Some of the worst performing rental markets were Spain, Ireland and Scandinavia…………Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Business24-7.ae: Globally, real estate is getting a bad rap. After all, it was the US housing bubble that triggered the economic crisis we see today. From Miami to London, Johannesburg to Moscow, home and office prices have plummeted, and may fall further.
The Middle East and North African (Mena) markets have also been affected, with a clear slowdown in the pace of development………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Forbes: Real estate vacancy rates are still growing in these metros. Many of the cities on the list are still digging themselves out of the wreckage of the real estate bubble.
Miami, which ranks No. 8, owns a whopping 12.7% rental vacancy rate, up from 11.4% a year ago; residential towers built in the final stages of the boom now stand as empty monuments to an over-hyped market downtown…………Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Propertywire.com: More than 18.7 million residential properties stood empty in the US during the second quarter of this year as the steepest recession in 50 years sapped demand for real estate and banks seized properties from delinquent borrowers.

But the latest figures from the US Census Bureau are a boost for those in the real estate industry who claim that a recovery is underway………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Bloomberg: More than 18.7 million homes stood empty in the U.S. during the second quarter as the steepest recession in 50 years sapped demand for real estate and banks seized properties from delinquent borrowers.

The number of vacant properties, including foreclosures, residences for sale and vacation homes, was little changed from 18.6 million a year earlier, the U.S. Census Bureau said in a report today………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

If you’re looking to diversify, broaden or even begin your property portfolio consider Europe for your next investment destination.

Europe is host to such a broad range of countries all offering diverse property opportunities – you have everything from emerging market economies with massive potential for sharp growth rates, well established city based rental markets giving great yields and even residential housing markets offering an investor a slow burn on his capital outlay………….Full Press Release: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Bloomberg: U.K. house prices held their value for a third month in July as the credit squeeze and the recession prevented the property market from improving, Hometrack Ltd. said.

The average cost of a home in England and Wales was 155,600 pounds ($256,351), 7.7 percent lower than a year earlier, the London-based property research company said in an e-mailed statement today………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Propertyeu.info: A new report from CB Richard Ellis shows that the impact of low levels of development in central London may lay the foundation for medium term rental recovery.
The projected three-year average completion rate will drop well below 2 million sq ft per annum in 2012-13 which, on past form, would see office rents rising again by the time London hosts the Olympics, the broker said………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Telegraph: Homes in the south of England are selling more quickly than those in the north of the country, according to the latest survey to suggest the property market is showing signs of life.
High demand and a shortage of properties in some southern areas means properties are taking less than six weeks to sell, while those in the north are taking almost double the amount of time, according to Hometrack, the property information company………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Financialadvice.co.uk: Even though we have seen signs that UK property prices are starting to firm up, although some reports suggest there are and some reports suggest they are not, there is no doubt there is interest from UK consumers and UK investors.
However, whether this interest is purely “bottom fishing”, or a return to former genuine interest levels remains to be seen………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Financialadvice.co.uk: The British Bankers Association has defended the mortgage industry which has come in for significant criticism over the cost of mortgages in the UK.
Despite the fact that UK base rates are still at 0.5%, mortgage rates remain relatively high, in excess of 5% in general, and it is believed that mortgage profits for UK banks have increased nearly four-fold in recent months………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Globalarabnetwork.com: This year is unlikely to bring much cheer to the construction industry in some parts of the Middle East.
The spotlight is likely to fall on the region’s fast-growing larger economies, such as Saudi Arabia and also Iraq, where further recovery after the US-led invasion of 2003 continues apace…………Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Gulf-times.com: Piecemeal moves to tighten real estate regulation in Dubai will do little to help the Gulf emirate’s rocky road to mature property market status, with Western investors continuing to shun it in the short term.
“You’re not going to get Western expat money deployed locally when there is still confusion over property ownership rights,” said Nomura Investment Bank analyst Chet Riley………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Maktoob.com: National Bank of Abu Dhabi (NBAD) will offer loans to European property companies struggling to get credit in the economic downturn, UAE daily the National reported on Sunday.

Abu Dhabi’s biggest bank will provide credit at high interest rates in markets such as Britain and Germany through a fund it is preparing to launch with British investment bank and private equity group Evans Randall, the newspaper said………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Zawya.com: Fifty percent of respondents to a survey conducted by Al Sharq Arabic daily on whether house rents have come down, say the rental market has indeed eased.

But 45 percent of the interviewees said they did not see any drop in rents, while the remaining five percent said they could not say either yes or no………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From AFP: Government stimulus measures and speculative investors have helped forge a surprising turnaround in the property market, with rocketing prices in some large cities sparking concerns of a new bubble.

After getting on board China’s property boom only three months ago, Beijing property agent Li Zhiwei already has plans to use the profits from his new career to open a karaoke complex………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Indiatimes.com: Is it a good time to buy or sell in the real estate market right now? Chances are that as a prospective buyer or a property owner, you may be facing a serious dilemma.
Industry players feel that while it may be a good decision to buy in certain locations, a sell off needs to be given a few more months till the market picks up completely………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Indiatimes.com: The government is weighing the impact of a possible three-year ban on stake sale by foreign investors in real estate projects, a decision that could affect future capital inflows into the sector.

Real estate developers had recently urged the government to reinterpret a provision in the foreign direct investment guidelines, so as to stop overseas investors from withdrawing their funds, beyond the minimum capital of $5 million, before three years of the initial investment………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Thanhniennews.com: The government will do its utmost to prevent a real estate bubble from inflating the way it did in 2007 as the local economy recovers from the global crisis, an official said.

“We will focus on monitoring secondary investors, especially in the high-grade housing market, because [speculation by them] could be a decisive factor in prompting a market collapse,” Nguyen Manh Ha, Head of the Ministry of Construction’s Department of Housing and Real Estate Market Management said………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Thanhniennews.com: The housing market slump in the US and Asia has given wealthy Vietnamese the opportunity to own a home abroad, but the government’s forex regulations have restricted the trend, realtors say.

Do Thi Loan, secretary general of Ho Chi Minh City Real Estate Association, said she knew many groups of Vietnamese who had traveled to the US to study the real estate market as they were interested in taking advantage of falling prices to buy a home………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Vnagency.com.vn: Commercial real estate prices plunged in Ha Noi during the second quarter of the year, according to a report from property consulting firm CBRE Viet Nam.

The firm cited declines in both exports and raw material and equipment imports as an indicator of slower industrial growth that is likely to last for a few more quarters as factors having a direct impact on the amount of capital being poured into the real estate market………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Koreaherald.co.kr: Home prices in Seoul and its adjacent areas are showing big gaps between districts and cities and the government’s recently-tightened property regulation has exacerbated the problem, experts said yesterday.

Home prices in several districts of the so-called “bubble seven” areas in Seoul and its surrounding cities rose 5.46 percent this year compared to a year earlier, while those in the remaining areas were almost unchanged with a 0.2 percent rise, according to data by the Ministry of Strategy and Finance and real estate information provider Real Estate Serve………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From News.com.au: Australia’s property sector is about to catch a wave but homeowners and investors do not need to worry about a wipe-out.

While a bubble in the first home owner segment of the housing market is set to burst with the winding back of government grants in two months, industry experts say investors will fill the breach………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Reuters: British insurer Aviva will launch a new 1 billion pound ($1.65 billion) investment fund to buy and rent out new residential property along with two partners, according to the Financial Times.

The report said Aviva, Britain’s second-biggest insurer, would launch the fund with property consultancy CB Richard Ellis and an unnamed major U.S. residential manager………….Full Article: Source

Posted on 27 July 2009 by Laxman |  Email |Print

From Reuters: Many real estate investment trusts (REITs) spent the first quarter avoiding a financial funeral, but when they report second-quarter earnings in the next weeks, some may be feeling a new sense of longevity.

What a difference $14 billion makes………….Full Article: Source

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