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Real Estate Briefing 17.Aug 2010

Posted on 17 August 2010 by Laxman |  Email |Print

From Reuters: U.S. home-builder sentiment unexpectedly fell for a third straight month in August to its lowest level in nearly 1-1/2 years, according to a survey on Monday that pointed to a weak housing market.
The National Association of Home Builders/Wells Fargo Housing Market Index slipped one point to 13, defying market expectations for a rise to 15……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

Barack ObamaFrom WSJ: Today the Obama administration will begin a discussion on how to overhaul our nationalized housing finance system. Moderated by Treasury Secretary Timothy Geithner and Shaun Donovan, secretary of the Department of Housing and Urban Development (HUD), the “Conference on the Future of Housing Finance” seeks answers to what went wrong in the U.S. housing market.
This promises to be the next big domestic policy debate—one that could mold housing finance for a generation or more. But the early signs of where policy makers might be headed are not promising……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Bloomberg: The housing market has usually led the U.S. economy into and out of recessions. It certainly led us into the latest slump.
The same can’t be said of the recovery. If anything, housing today is stifling economic expansion……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From WSJ: Sentiment surrounding home-builder stocks remains in the dumps, but some technicians and analysts are seeing glimmers of hope in the sector.
The National Association of Home Builders said Monday that home-builder confidence in August plunged to a 17-month low, at least partly due to a slumping labor market and broader concerns about the recovering economy……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Financialpost.com: Improving debt markets and lower interest rates helped to drive up commercial property transactions in Canada, according to a new survey from real estate company CB Richard Ellis Ltd.
The company said there was $7.8-billion in transaction through the first six months of this year, a 60.2% improvement over the $4.9-billion for the same period a year earlier. There were 2,243 commercial transactions through the first six months of this year, up from 1,565 a year earlier……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Ctv.ca: Housing sales dropped by 30 per cent nationwide last month, largely due to a new tax in British Columbia and Ontario experts say deterred home buyers in two of the country’s hottest housing markets.
The Canadian Real Estate Association on Monday reported a 6.8 per cent drop in home sales through its MLS service, compared with June numbers. The decline is part of a gradual dampening of Canada’s once-booming real estate market……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Bloomberg: Real-estate investors will spend more money buying hotels in Europe than the U.S. this year as slower development helps to preserve property values.
Hotel acquisitions in Europe will total about $5.5 billion in 2010, compared with $4.5 billion in the Americas, according to Jones Lang LaSalle Hotels. The U.S. will account for about 90 percent of purchases in the Americas, the London-based hotel investment-services firm said……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From IPE: Liquidity for larger deals has improved due to greater activity from cross-border investors, according to a CBRE report on European retail.
A small number of large transactions in the German retail market drove a 15% increase in European real estate investment turnover to €15.7bn in the first half of 2010, compared with the same period last year……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Propertyeu.info: Credit Suisse Asset Management said it is extending the suspension of withdrawals from its EUR 6.2 bn CS Euroreal open-ended investment fund ‘to protect the interests of its long-term investors’. The suspension redemption will be initially prolonged ‘for a further period of up to nine months’, it added.
CS Euroreal became the latest open-ended vehicle in May to impose a three-month redemption ban after proposed changes to the way German open-ended funds are regulated threw the market back into chaos, prompting a run on a number of funds, including SEB Immoinvest and Kanam Grundinvest……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From IPE: European pension schemes are diverting their retail exposure away from shopping centres toward city-centre high streets in search of higher yields generated by active management.
David Rendall, chief executive at Cushman & Wakefield Investors European, told IPE Real Estate that “urban retail” – high street assets redesignated to avoid the label of a “4%, low-yield prime shop” – would benefit from city-centre regeneration……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From UKPA: The Government has launched a review of housing market statistics following concerns the different methods used for calculating house prices may be causing confusion.
The National Statistician has started the review looking at the “coherence and comparability” of the house price indexes produced by Communities and Local Government and the Land Registry……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Europe-re.com: The UK commercial property market has completed a full year of capital growth, with markets rising by 15.4% since last August, according to July’s IPD UK Monthly Index
Over the month, the market returned just 0.2% positive capital growth – matching the figure which kick-started the recovery at the end of last summer. A stable 0.6% income return contributed to a monthly 0.8% total return……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Financialadvice.co.uk: Despite the fact that the first choice for many in the UK property market is to buy a property for the future, there are now signs that more and more people are looking to rent in the short to medium term.
The Chartered Institute of Housing has today issued a report suggesting that those on incomes between £12,000 and £25,000 are stuck in between being eligible for social housing and been able to afford their own property……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Business-sale.com: A new report has revealed that commercial property investment activity in London has boomed over the last few months due to rising levels of interest from international buyers.
According to CB Richard Ellis, strong demand resulted in central London investment volumes increasing significantly during the second quarter of 2010, which saw turnover rise by 57 per cent to reach £1.9 billion……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Themovechannel.com: The residential real estate market in France is slowly recovering from its low point at the end of 2008 although price growth is variable, a new focus report shows.
In the first quarter of this year only the new apartment sector saw price increases but in the 12 months to the end of March average new single family homes increased by 5.9% and apartment prices rose by 6.9%, the report from Chesterton Humberts shows……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Austriantimes.at: The experts are claiming that the shopping-centre boom in Vienna will end with the completion of the Riverside centre in Liesing.
Real-estate office EHL said that the market for new shopping centres in Vienna was saturated. He added that the city government had not received any new requests for permits for centres……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Europe-re.com: Office investment activity in Belgium has increased by 96% during H110, when comparing year on year data, with Belgium investors accounting for 75% transactions. This is according to international real estate advisor Savills.
The data states that total investment reached €617.5 million during H110, showing an increase of 96% when comparing H110 to H109 and 46% from Q110 to Q210……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Europe-re.com: In the first half of 2010, the volume of capital invested in domestic commercial real estate increased by 233% year-on-year.
However, according to the international consulting firm DTZ, it is not advisable to attach too much importance to the aggregate amount of €215 million, taking into consideration investors’ continuing low rate of activity in comparison with the period from 2005 to 2008……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Themovechannel.com: The Asia Pacific region is leading the global property market recovery while a slower rate of recovery is predicted for Europe and US markets in face of testing economic conditions, according to a new forecast.
An increase in the number of millionaires in Asia Pacific could be fuelling the recovery, according to the second quarter International Residential Review from Chesterton Humberts……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Capitalvue.com: The transaction area of commercial residential propeties in Shanghai rose 26 percent week-on-week to 172,000 square meters for the week ended August 15, reports Yicai.com, citing data from youwin.com.cn.
New supply of commercial residential properties in Shanghai totaled 68,000 square meters in the same week, down 30 percent week-on-week……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Chinadaily.com.cn: Ordinary Hong Kong people who want to get an apartment of their own may be at a loss these days, even if they seem able to afford a down payment and monthly installment. The city’s home prices have ridden a rocket-like recovery after a temporary fall during the financial crisis. Property analysts believe many of the city’s properties are no longer worth investing.
“Hong Kong home buyers who missed the last entry point are in pain right now, especially those who are determined to have a place of their own,” CLSA’s property research head Nicole Wong told China Daily……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From WSJ: Shares in Hong Kong’s property companies slumped Monday following the government’s latest moves Friday to rein in the surging real-estate market.
Separately, the Hong Kong government said Monday it will put two sites up for sale in an auction on Sept. 29, potentially adding more supply to the market……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Thailand-business-news.com: Previously, a bubble in the real-estate market was the main concern because it had been a key factor causing the economic crisis of 1997. Now, there is some fear of a bubble in condominiums because of a large supply of unsold units as of mid-year, Kasikorn Research says.
According to the Real Estate Information Research and Valuation Centre, unsold homes and new housing completions as of mid-year totalled about 98,748 units, close to what was available at the end of last year……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Cityscapeintelligence.com: Prices of prime Phuket property are amongst the cheapest of the world’s most popular international homes market according to a new report.
The International Residential Report published by Chesterton Humberts discovered the price of new homes on the Thai island were EUR3,500 (US$4,460) per sqm……………………………………….Full Article: Source

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Posted on 17 August 2010 by Laxman |  Email |Print

From Theglobeandmail.com: Real estate investment trusts (REITs) are a key consideration when constructing any equity or fixed-income portfolio. They provide greater diversification, potentially higher total returns and/or lower overall risk.
In short, their ability to generate dividend income along with capital appreciation make them an excellent counterbalance to stocks, bonds and cash. REITs generally own and/or manage income-producing commercial real estate, whether it’s the properties themselves or the mortgages on those properties……………………………………….Full Article: Source

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