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Real Estate Briefing 20.Aug 2010

Posted on 20 August 2010 by Laxman |  Email |Print

Raymond TortoFrom Propertyeu.info: Almost half of the office markets in the Europe, Middle East and Africa (EMEA) are now experiencing rental growth or stability, according to the latest ‘Global Office Rental Cycle’ research report by CB Richard Ellis. Following the Q2 bounceback, the EMEA region now closely trails the Asia Pacific region, which leads the global recovery in this sector.
The research report measures prime rents and take-up levels across 17 global markets. Paris, in particular, experienced a notable increase in office rents in the second quarter of 2010, the study found……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

David Green-MorganFrom Straitstimes.com: A newly launched global property index covering commercial real estate sees Asia-Pacific markets as more attractive than those in Europe but below the United States.
The Fair Value Index as it is called is compiled by property consultancy DTZ and offers investors an insight into the relative attractiveness of global markets over a five-year investment period……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Reuters: U.S. homeowners were less confident about the value of their homes in the second quarter, with one-third believing home prices had not yet reached a bottom, real estate website Zillow.com said on Thursday.
Nevertheless, a significant number of homeowners said they planned to put their home up for sale in the next six months if they saw signs of a real estate market turnaround……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Usatoday.com: Second homes, whether in the mountains or at the beach, have long had a strong family appeal. In recent years, savvy developers have been building communities aimed at families in the same way they once built for avid golfers, skiers or tennis players.
Many of the homes are being bought because of family-friendly amenities and are used as a place for family gatherings, especially during holidays……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Bloomberg: U.S. commercial real estate prices fell the most in almost a year in June as the economic recovery showed signs of faltering, Moody’s Investors Service said.
The Moody’s/REAL Commercial Property Price Index dropped 4 percent from May, the company said today in a report. The decline was the biggest since July 2009, and pushed the gauge down 0.9 percent from the start of the year……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Propertyshowrooms.com: US prime commercial property is attractively priced, according to DTZ’s Fair Value Index. The nation was given a “hot” rating of 89 on a scale of zero to 100, compared to Europe’s “warm” 49 and the UK’s “cold” 38. Asia Pacific was also deemed “hot” with a rating of 67.
This suggested that commercial property in the US is more attractively priced on a five-year horizon than other regions……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Cnbc.com: U.S. mortgage rates fell in the past week to the latest in a series of record lows amid concerns about the state of the U.S. economy, according to a survey released Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
Rock-bottom rates should continue to spur demand for home loan refinancing, putting extra cash into consumers’ hands that they can save, use to pay off existing debt or funnel into the economy through extra spending……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From AFP: Unruffled by the moribund US housing sector, New York’s residential property market is booming. With mortgage rates and property prices at historic lows, the city’s affluent residents are cashing in on the economic conjuncture to get a pad at bargain values.
Real estate agencies are reporting a surge in activity in private home sales in the Big Apple in recent months……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Europe-re.com: International real estate advisor Savills has reported that the Western European distribution hubs will see 5% take up during 2010 as GDP growth rises to +1.0% from -4.2% last year in the EU 27.
The activity will, according to Savills, be concentrated around the largest European hubs with demand driven by operating cost reductions and the food sector predominately……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Bloomberg: The number of U.K. first-time house buyers rose 28 percent in the first half of 2010 from a year earlier to 94,600, Lloyds Banking Group Plc’s Halifax division said in an e-mailed statement today.
The number of buyers is half the amount in the same period in 2007, Halifax said, citing research from its database……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From IPE: A new commercial property index launched in London this week found London City offices to be the world’s most attractive commercial real estate market, underpriced by 11.6%.
It was followed by New York offices, underpriced by 5.1%. Shanghai retail was found to be the least attractive market, overpriced by 17.6%, followed by Barcelona offices, overpriced by 7.9%……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Europe-re.com: According to Jones Lang LaSalle’s latest Residential Market forecast, average UK house prices have started to slide with annual growth currently at 6.6%, down from a peak of 10.5% in April 2010.
During the remainder of 2010, Jones Lang LaSalle expects a decline of 3.9% on current price levels, reducing the value of the average UK property by £6,500 (€7,900)……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Dailystar.co.uk: News of house-price increases and relaxation of some mortgage lending rules last week could signal that the property market is on the verge of recovery after months of misery. But experts say that any turnaround will happen only very slowly.
Nationwide’s latest house price report, which recorded a 0.9 per cent increase in March compared with February, is supportive of many views the housing market has fallen to its lowest point……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Globalpropertyguide.com: Low interest rates are powering strong price increases across all regions and property types in Norway. Sound economic management and careful spending has brought Norway relatively unscathed out of the global financial crisis.
Norway’s house price index increased 9% during the year to Q2 2010, including a rise of 3.7% in the most recent quarter (Q2), according to Statistics Norway. Its housing market recovered in early 2009, after house prices fell from mid-2007 to 2008……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From IPE: Asset managers would be unlikely to take on Polish pension funds’ property portfolios even if domestic reforms were to lift restrictions on them investing in alternatives, according to Dariusz Stánko, a specialist at the Warsaw School of Economics.
Following comments made last week to IPE Real Estate by First Property chief executive Ben Habib that the Polish government needed to “get a grip” on its estate market by lifting the prohibition on pension funds investing in property, Stánko noted the downside risk to pension managers associated with failing to meet the required return in a social security system with 14m members……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Bloomberg: House prices in Sweden, Finland and Norway may slump, derailing one of the strongest rebounds in Europe and threatening to drive their economies back into recession.
Swedish real estate may fall as the 20 percent of borrowers with the biggest debts struggle with burdens as much as 46 times their disposable incomes, says Royal Bank of Scotland Group Plc……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Intasure.com: The improving economic conditions in Slovakia may encourage holiday home insurance customers to buy a property there. The Slovakian housing market could be boosted by the country’s improving economic performance.
Since the recession, the eastern European nation has enjoyed a period of steady growth with figures from Eurostat revealing 1.2 per cent growth in the second quarter of 2010……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Helium.com: Albania is definitely an investors market with prices already appreciating yet with massive potential for capital growth predicted. Investing off plan can represent the quickest returns if a reputable developer is used.
The property market is currently under capacity but overdevelopment could result in saturation so location is essential in any decision……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Albawaba.com: Arabian Construction Company (ACC) has been awarded a AED342 million contract by Abu Dhabi’s Emirates Tourism Investment (ETI) company to build the Rotana Hotel Tower in Abdali, Jordan.
Upon completion in 2013, the tower will be the tallest building in Jordan, standing at 188m……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Emirates247.com: Dubai-based property developer Nakheel will restart work on at least six mega Dubai projects early next month. Jumeirah Park, Al Furjan, Jumeirah Village, Jumeirah Islands Mansions, Jumeirah Heights Clusters and Al Badrah are the first projects likely to resume.
“Nakheel is currently engaging contractors in the short-term projects with a view to continuation in the coming weeks. We expect that all short-term projects will be fully mobilised by early October 2010,” The National reported on Tuesday quoting a company statement……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Emirates247.com: Some developers in Ras Al Kaimah are guaranteeing three-year residence visas in exchange of buying a property located in the emirate. This is despite the federal law that only allows for six months visa.
Al Hamra Village, for one, is openly advertising that it can provide visa and financing to Royal Breeze Direct Sea View Apartments……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Bloomberg: Hong Kong home prices will extend gains as long as interest rates stay low and the economy expands, defying new government measures to prevent a potential bubble, according to UBS AG.
“We have low interest rates, low new supply, high inflation and rising incomes,” Eric Wong, head of Asia real estate research at UBS, Switzerland’s biggest bank, said at a seminar organized by Bloomberg in Hong Kong today. “As long as these factors don’t change, home prices in Hong Kong will keep going up.”………………………………………Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Propertywire.com: Sales of private homes by developers in Singapore surged 82% month on month between June and July, the latest figures to be published reveal.
But transactions are expected to fall back again this month as the market enters a slower period although overall 2010 is already being described as a good year for real estate……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Todayonline.com: The improving economic climate and stronger business confidence have boosted office space take-up rates in Singapore and across the Asia-Pacific, and analysts believe that it will get better.
According to Jones Lang LaSalle, the second quarter of this year saw take-up of office space across the Asia-Pacific’s Tier I cities spike by 13 per cent on quarter to 1.3 million square metres……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Ibtimes.com: Australia’s real estate market quickly recovered from the initial shocks of the global financial crisis and emerged relatively unscathed. But that doesn’t meant there isn’t a bubble, said Morgan Stanley Gerard Minack.
Minack, global head developed markets strategy, thinks it merely dodged a bullet……………………………………….Full Article: Source

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Posted on 20 August 2010 by Laxman |  Email |Print

From Themovechannel.com: For the first time in several years, the number of New Zealanders interested in investing in residential property has declined significantly, a new body of research has revealed - suggesting a Kiwi lack of confidence in their country’s property market.
An annual online property survey, the Nielsen Real Estate Market Report, which is sponsored by Realestate.co.nz, found that last year one in four of those surveyed said they intended buying residential property as a future investment……………………………………….Full Article: Source

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