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Real Estate Briefing 26.Aug 2010

Posted on 26 August 2010 by Laxman |  Email |Print

From WSJ: Yesterday’s news that sales of existing homes fell a record 27% in July did not trigger the end of civilization. Instead, while stocks generally declined on the news, shares of home building companies rallied on the chance that this market has finally found a bottom.
We make no predictions on whether the expected rebound in August or autumn sales will come to pass, after more than four years of a declining market and numerous federal programs delaying the inevitable correction………………………………………Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

Simon FairchildFrom Propertyfundsworld.com: The range of returns to investors in US core open-ended funds remain above long-term norms, despite the recovery in market values over the second quarter, IPD research has shown.
Underlying US commercial real estate markets have emerged from two and a half years of write-downs with a quarterly positive capital return of 2.2 per cent - contributing to a 4.0 per cent total return, as measured by the IPD US Quarterly Property Index……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Marketoracle.co.uk: Don’t look now, but someone just pushed the housing market off a cliff. The National Association of Realtors announced on Tuesday that the sales of existing homes fell a staggering 27.2 percent to a seasonably adjusted rate of 3.83 million units.
This is the lowest number of sales since 1995. The reaction on Wall Street has been swift, shares plunged in a wild sell-off that pushed stocks down more than 100 points in a matter of minutes. US Treasuries rallied on the news sending bond yields lower as jittery investors sought safety from the ongoing avalanche of dismal economic data……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Marketwatch.com: Every single newspaper I looked as I waited for my espresso with a little steamed milk at the local donut shop this morning screamed, “Housing has collapsed! Run for the hills while you still can!” Well, something like that. Here’s some sampling of the actual headlines I saw:Weak US housing, business data fuel ‘double-dip’ concerns, Housing still at heart of our problems, Worst New Home Sales EVER!
I could go on — here just look at the search results from Google News of “Housing record” (without the quotes). 8263 results in the news for “Housing record” today? Wow……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Themovechannel.com: 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.
“The indices are based on a quantified assessment of whether pricing in 180 individual markets (defined by city and sector) is attractive to investors, and signal to investors which regions and sectors offer the best value,” DTZ said……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Sfgate.com: As Gomer Pyle would say, “Surprise! Surprise! Surprise!” (search that on YouTube, kids). The U.S. housing market has taken a frightening dive following the withdrawal of market-distorting federal government incentives.
Sales of existing homes have dropped 27 percent in July over June levels, and new homes at an annual rate of 12 percent, the lowest rate since the government began tracking sales in 1963. Prices are sure to follow……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From CNNMoney.com: Stop me if you’ve heard this before. The housing market is still in shambles. Existing home sales plummeted in July. New home sales sunk as well, hitting a record low. And even though luxury homebuilder Toll Brothers reported a surprise quarterly profit Wednesday, that was largely due to a tax break. Sales were down slightly from a year ago and orders dropped 16%.
Despite this, some investors appear willing to once again bet that the housing market has hit bottom. Shares of Toll Brothers (TOL) were up more than 2% in early afternoon trading……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Bizjournals.com: Luxury home prices in San Francisco, San Diego and Los Angeles fell from year-ago levels, and real estate agents think the current quarter could look even worse, according to the First Republic Prestige Home Index.
The San Francisco bank’s quarterly survey released this week said that the value of Bay Area’s luxury homes fell 1.3 percent in the second quarter from a year ago but rose 1.8 percent from this year’s’s first quarter……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Businessweek.com: A fund geared to buying industrial real estate in Mexico has raised $293.3 million from investors, Prudential Real Estate Investors said Tuesday.
The closed-end, publicly traded fund, dubbed PRUMEX Industrial III, will invest in developing industrial sites, acquire portfolios or individual properties with a focus on tenants that distribute or manufacture goods to Mexican or U.S. consumers, the company said……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Propertyeu.info: European property markets have become less attractive than other global markets in the past year due to strong yield compression and increased risk premiums in some markets combined with a sluggish rental growth outlook. That is one of the key findings of the European all-property DTZ Fair Value Index launched last week in Frankfurt.
According to the index, the UK is the least attractive market at present with proportionally more cold markets than hot meaning that many are now over-priced. The same applies to the Nordics……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Propertyfundsworld.com: The Association of Real Estate Funds’ Investment Quarterly for quarter two 2010 reveals a net asset value of GBP30.5bn for UK unlisted pooled property funds, up GBP9.5bn on this time last year. Excellent performance and significant net inflows account for this increased net asset value.
The Investment Quarterly examines trends in the UK unlisted pooled property funds industry through data provided by 66 member funds……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Propertyeu.info: Open-ended property funds reduce risk in portfolios of both private and institutional investors and improve the risk-return profile - despite lower returns, according to a report published on Wednesday by the BVI, which represents the German investment and asset management industry.
Private investors with a low appetite for risk should target open-ended funds that invest in a diverse range of asset types, as part of a balanced portfolio that includes shares, hedge funds and money markets, the study concludes……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Themovechannel.com: France and Germany have been tipped as hotspots for commercial property investment by Capital Economics. Ed Stansfield, a property economist at the firm, said that France, along with the Nordic countries, stands out in terms of economic conditions and pricing.
This means investors could be advised to keep an eye out for Midi-Pyrenees property listings and Provence-Alpes-Cote d’Azur property for sale. “Germany, from a purely top-down macroeconomic performance point of view, is going to be one of the best performing economies in Europe over the next couple of years,” Mr Stansfield added……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Assetz.co.uk: The average property prices across 12 regions of France fell last month but a number of areas have experienced increases over the longer term, according to the French Rural Property Index.
Prices across the 12 regions fell by 0.4% in August, compared to the previous month’s figures, Sextant French Properties’ data found. However, prices have increased by 13.7% over the past 10 months in many regions, including Aquitaine, Centre, Midi-Pyrenees, Nord Pas-de-Calais and Normandy……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Ameinfo.com: The ruler of Sharjah, Dr Shaikh Sultan Bin Mohammad Al Qasimi, has issued a decree restricting foreign ownership of land and properties to UAE and GCC nationals, Gulf News has reported.
“The law has limited the right to own real estate in the emirate to the UAE nationals and nationals of GCC Gulf Arab states and corporate bodies fully owned by them. But the exception may be granted by [the] Ruler to own property through the inheritance transition in accordance with Shari’ah declaration, legitimate or waiver of the owner to a relative of the first degree as prescribed by executive regulations of this law,” the decree said……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Reuters: Office rents in key Asian markets such as Shanghai and Singapore are expected to rise this year due to healthy economic growth and improving business sentiment, global property services firm Jones Lang LaSalle said.
Hong Kong, Shanghai and Singapore are seen leading the recovery in Asia, with rental increases of between 10 to 20 percent in 2010, while growth momentum will likely pick up in Tokyo and some Indian cities starting in 2011, it said in a statement on Wednesday……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Property-report.com: A new round of housing market regulations in China may be just around the corner as both central and local governments have recently attempted to strengthen control over the real estate market on several occasions, according to experts.
Chinese Vice Premier Li Keqiang said on August 13 that the government would continue to regulate the housing market and resolutely crack down on speculative property investment and other unreasonable market demands……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Peopledaily.com.cn: Blackstone Group LP, the world’s biggest private equity firm, has entered China’s property market again through financial cooperation with a realty developer. This may be a sign that foreign funds are keen on China’s housing market, analysts say.
Media reported that Blackstone has reached an agreement with Hong Kong-based Great Eagle Group to jointly develop land blocks in Dalian. Great Eagle said in its half-year report that half of its Dalian project is held by an independent third-party company, but declined to give the name……………………………………….Full Article: Source

Posted on 26 August 2010 by Laxman |  Email |Print

From Nzherald.co.nz: Real estate firms are increasingly turning offshore to secure sales amid a drought of willing buyers in the New Zealand market. Harcourts says a six-day expo of more than $800 million worth of premier New Zealand property in Shanghai is generating “serious interest” from VIPs in China with a number of offers already been made.
Harcourts’ franchise Cooper & Co on Auckland’s North Shore is marketing a portfolio of 57 residential, lifestyle, rural and commercial property and development projects to more than 1200 Chinese millionaires and billionaires interested in investing or immigrating here……………………………………….Full Article: Source

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