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Real Estate Briefing 03.Aug 2010

Posted on 03 August 2010 by Laxman |  Email |Print

From Propertyeu.info: The fundraising environment remains extremely competitive for private equity real estate funds as the recovery many predicted is yet to occur, according to fund tracking firm Preqin.
The $7.3 bn (EUR 5.6 bn) raised by 20 private equity real estate funds in the second quarter of 2010 was the lowest amount of capital raised by the industry since the third quarter of 2004 when 30 funds raised an aggregate $6.1 bn, Preqin said……………………………………….Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From WSJ: The surprising outperformance this year of exchange-traded funds that track real-estate stocks suggests improvement in the economy and the battered commercial-property sector, although second-quarter earnings reports could threaten the rally.
SPDR Dow Jones REIT ETF was up 15% this year through July 29, while the SPDR S&P 500 ETF was in negative territory with a loss of nearly 1%, according to investment researcher Morningstar Inc……………………………………….Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From Barrons.com: The housing market still weighs heavily on the economy and on investment portfolios. Talk of the next shoe dropping on commercial real estate has also not gone away.
But there is one portion of the real estate market that is not only in a bull market but now appears to be breaking out to the upside once again. Real estate investment trusts, known by their acronym REITs. may be the right shelter from whatever storm may be on the horizon……………………………………….Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From Inman.com: The BP oil spill’s impact on home values in 15 coastal counties along the Gulf of Mexico could total $3 billion over five years, according to report released today by business information company CoreLogic.
An additional $28 billion loss in values could also occur in the unlikely event that oil reaches communities around the Florida Keys and up the Atlantic coast, the report said……………………………………….Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From WSJ: Buyout firm Blackstone Group LP is finalizing roughly $850 million of deals to buy one of the largest shopping malls in Hawaii, an 80% interest in 17 million square feet of U.S. warehouse space and a 5% stake in mall owner General Growth Properties Inc., according to people familiar with the matter.
In the Hawaiian deal, a partnership of Blackstone and mall owner Glimcher Realty Trust has agreed to buy the Pearlridge Center mall on the island of Oahu for $242 million, people familiar with the talks said……………………………………….Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From Marketoracle.co.uk: John Paulson Will Be Wrong This Time - We have arrived at critical juncture in the ongoing financial crisis. Have the government actions of the last year successfully spurred the animal spirits of Americans, resulting in a self-sustaining recovery?
The Obama administration and most of the mainstream media would answer yes. GDP has been positive for the last four quarters. Consumer spending has increased in five consecutive months. Corporate profits have been relatively strong. The country has stopped losing jobs. The missing piece has been a housing recovery……………………………………….Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From Brazzil.com: The ongoing growth of Brazil’s property market has become ever apparent with some estimations pointing to a doubling of prices between 2009 and 2010.
Whilst most professionals consider such figures to be hugely speculative and based on ‘one-off’ sales there are, nevertheless, several indications of a very bright future including a lowly leveraged debt market, improved inflation control, social housing programs, national credit rating upgrades, a rising middle class, higher wages and lower unemployment to name a few……………………………………….Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From Propertyshowrooms.com: The number of people looking at Brazilian property as an investment opportunity rather than as a lifestyle choice is increasing. Samantha Gore, sales manager for a real estate specialist, reported that there has been strong growth in the number of “pure investors” looking at properties in this area.
She said: “They can envision the impact of the 2014 FIFA World Cup and the 2016 Rio Olympics, not to mention the burgeoning middle classes and the recent introduction of mortgages for Brazilians.”………………………………………Full Article: Source

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From Europe-re.com: While austerity measures and concerns surrounding sovereign debt in European economies triggered a new wave of economic uncertainty and volatility in financial markets; positive signs increased in the office markets during Q2 2010 according to Jones Lang LaSalle’s Q2 2010 European Property Clock.
Office take-up in Europe for Q2 2010 increased marginally to 2.6 million m², up 6% on the previous quarter and 34% on Q2 2009……………………………………….Full Article: Source

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From Property-magazine.eu: Institutional demand for core European properties is likely to intensify despite the current turmoil in the region’s debt and currency markets, according to PRUPIM’s latest review of global real estate markets.
PRUPIM’s International Real Estate Perspective report confirms that, despite the turbulence around the Eurozone, the yield compression which started to emerge at the end of 2009 has now become evident in almost all markets and sectors in continental Europe……………………………………….Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From Financialadvice.co.uk: Despite the fact that the number of mortgages available today has increased by 66% since January, up to 2,351 from 1,414, many people are still experiencing problems in obtaining sufficient finance to acquire houses.
It seems that 58% of the deals on offer today require a minimum down payment of 25% and only 8% of those available will allow a minimum deposit of 10%……………………………………….Full Article: Source

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From Bloomberg: Hammerson Plc, the U.K.’s third- largest real estate investment trust, reported a first-half profit after the value of its properties grew.
Net income was 333 million pounds ($524 million), or 47.3 pence a share, compared with a loss of 786.1 million pounds a year earlier, the London-based company said in a statement today. Its net asset value increased by 7.8 percent to 4.54 pounds a share……………………………………….Full Article: Source

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From IPE: Henderson Global Investors is seeking to tap demand from German institutional investors for exposure to their domestic retail sector.
The fund manager has launched the German Retail Income fund (GRIF), a specialist property fund that will focus exclusively on German retail parks and self-service department stores……………………………………….Full Article: Source

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From Polishmarket.com.pl: A considerable acceleration was noted on the Polish office space lease market although it was still a lessor’s market. The situation is expected to stabilise in H2 2010 and to favour lessees, according to Colliers International advisory firm.
Despite the growing interest in office space, the rate of vacancies has increased, mainly due to high supply of new space reaching the level noted in H1 2009……………………………………….Full Article: Source

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From Realestateweb.co.za: The July FNB House Price Index recorded a year-on-year inflation rate of 10.6%, down from the previous month’s revised 12.4%. On a month-on-month basis the index declined by -0.6%, following a +0.2% rise in the previous month.
One does get seasonal factors playing a role in the month-on-month rate, though, so one should be careful about drawing conclusions regarding month-on-month decline. The average price for July was R787,694………………………………………Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From Emirates247.com: Average prime office rentals in Abu Dhabi have fallen by five per cent in the second quarter compared to the first quarter of 2010, CB Richard Ellis (CBRE) said today.
In comparative terms, the global consultancy said, average prime rates are now at less than half the level registered during the peak of 2008 despite the capital being among the most expensive office markets globally……………………………………….Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From Indiatimes.com: Money raised by realty focused private equity funds tanked to a six year low of USD 7.3 billion across the globe in April-June period of this year as institutional investors remained hesitant about committing capital.
According to a report by global research firm Preqin, “this was the lowest quarterly fundraising total since Q3 2004, when 30 funds raised an aggregate USD 6.1 billion,”………………………………………Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From Business-standard.com: Upcoming festivals could boost volumes, but higher prices, interest rates are stumbling blocks. The June quarter results of listed realty players have been a mixed bag.
While it reflects a gradual pick-up in demand in select regions, led by an improving economy and increased hiring and salary revisions – especially in the IT/ITeS sector – key markets like Mumbai have seen demand contract due to a jump in property prices……………………………………….Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From UPI: State-run companies in China have become aggressive real estate developers that are, in part, responsible for sharp price escalation, records show.
In Beijing, land prices have soared by 750 percent since 2003, a study by the National Bureau of Economic Research in Massachusetts said, The New York Times reported Monday……………………………………….Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From Khaleejtimes.com: Property prices all over the world have bottomed in 2009. The US Case — Schiller index, which tracks home prices in 20 American cities, bottomed in January 2009, though its recovery is fragile in an economy with an almost 10% jobless rate and anemic bank credit growth.
The National Building data shows that UK home prices have once again begun to rise, notably in London and the Home Countries. Commercial and residential prices in India, Singapore and Hong Kong have been on a roll in 2010, up as much as 20-30% in some locales……………………………………….Full Article: Source

Posted on 03 August 2010 by Laxman |  Email |Print

From Bloomberg: Hong Kong risks a property bubble if home prices keep rising, said Peter Wong, HSBC Holdings Plc’s chief executive officer for the Asia-Pacific region.
“Property prices are at a fairly high level right now,” Wong said in an interview with Bloomberg Television today. ‘If it continues to increase, it may form a bubble.”………………………………………Full Article: Source

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