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Real Estate Briefing 10.Nov 2010

Posted on 10 November 2010 by Laxman |  Email |Print

From Bloomberg: U.S. commercial property transactions will increase as much as 40 percent in 2011 from this year as the economy expands, according to Jones Lang LaSalle Inc.
Buyers and sellers will complete about $92 billion of deals for apartment, office, industrial and retail properties this year, Jones Lang said today on a conference call discussing its real estate outlook……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Bloomberg: U.S. home-improvement retailers face “rising headwinds” as housing investment’s share of the economy falls to a post-World War II low, according to Budd Bugatch, an analyst at Raymond James & Associates Inc.
The CHART OF THE DAY compares spending on new homes and apartments, including furnishings, with gross domestic product in the top panel. The data, compiled by the Commerce Department, aren’t adjusted for inflation. The bottom panel shows the ratio between them……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Cbc.ca: The value of commercial property deals in Canada is on track to reach the $16-billion range in 2010, according to a report released Tuesday by commercial real estate brokerage Avison Young.
Sales have already exceeded that for all of 2009, according to the report. By the end of September, more than $12 billion in commercial real estate assets had changed hands……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Vancouversun.com: Major commercial real estate players say the market has hit bottom and they are preparing to add to their portfolios, according to Colliers International.
Expecting the market will rebound over the next 12 months, eight in 10 Canadian respondents to a global survey of 200 major real estate investors with a combined portfolio of $710 billion said they expect to expand or rebalance their portfolios as a result……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Montrealgazette.com: Montreal’s housing resale market continued to slow in October, year over year, but prices remain strong because of “market conditions” favouring sellers, the Greater Montreal Real Estate Board said Tuesday.
Sales of residential homes dropped 19 per cent in October, compared to the same month in 2009, with plexes the hardest hit housing category, Multiple Listing Service data show……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Bloomberg: General Growth Properties Inc., the second-largest U.S. mall owner, exited from the biggest real estate bankruptcy in the country’s history and split itself into two companies.
The landlord has spun off Howard Hughes Corp., an owner of master-planned communities and other properties, Chicago-based General Growth said today in a statement……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Novinite.com: Most commercial real estate markets around the world, including Eastern Europe, have passed the bottom and are now on the rise, according to Colliers International Global Investor Sentiment Survey for the third quarter of this year.
A total of 90% of the survey participants said they planned to expand their current level of real estate holdings within a year or as a minimum maintain them at current levels……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Reuters: Development activity in Britain’s ailing commercial real estate sector is set for a further three months of declines, as austerity measures in the public sector lead to a bleak industry outlook, a survey said on Wednesday.
The survey by property consultant Savills found commercial property development activity fell for a third consecutive month in October, with public sector activity contracting sharply and extending its run of declines to eight successive months……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Examiner.co.uk: Demand for commercial property continues to decline in Yorkshire, says a survey by the Royal Institution of Chartered Surveyors.
Occupier demand fell for the first time in 12 months – with the net balance falling to minus 5 from plus 12. Demand fell across all sectors, but industrial space showed the greatest decline, falling to minus 9 – the lowest level since the second quarter of 2009……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From UKPA: House prices will edge ahead by just 2% next year but property values will be 16% higher than they are today by the end of 2014, an economics consultancy has predicted. The Centre for Economics and Business Research (cebr) expects house prices to rise by only 2.2% in 2011 as unemployment increases on the back of public sector cuts and household incomes remain under pressure.
But it expects low interest rates, further quantitative easing from the Bank of England and the ongoing housing shortage in the UK to offer some support to the market, with house prices likely to be 16% above their current level by the end of 2014……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Independent: There’s nothing like a few facts to illuminate a problem. The National Housing Federation has published a study that finds the average house price in England in 2009 is 10.3 times the average income.
The average London salary is higher, but that doesn’t make housing in the capital any more affordable. In another study, the NHF finds that average house prices in London are 13.5 times the average London income……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Telegraph: Foreign investors are more confident about the UK property market and London office space is on the top of their target list, a survey has found.
In its third quarter Global Investment Sentiment Survey, Colliers International has focused on how investors feel about the current state of the market in their region, and cross border, and what they think the future might hold for the property sector……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Globalpropertyguide: While property prices for the rest of France were generally stable, apartment prices in Paris and its vicinity continue to surge in Q3 2010. The average price of apartments in Paris was €6,381 per sq. m, up by 9.7% y-o-y according to the National Association of Real Estate Agents (FNAIM).
Official government data show strong price increases in Q2 2010 in Paris and its vicinities. The average price of existing apartments rose to €6,680 per sq. m., up by 10.2% y-o-y according to Notaires - INSEE (National Institute for Statistic and Economic Studies)……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Globalpropertyguide: Buoyed by strong economic and employment growth, house prices in Germany continue to rise in Q3 2010. The over-all house price index for all property types increased by 2.3% y-o-y to September 2010.
It was the ninth consecutive month of annual price increase, according to Hypoport AG, a leading financial services portal……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Propertyeu.info: Invesco Real Estate is gearing up to launch an Asia fund for German institutional investors in Q1 2011, Robert Stolfo, Director of Business Development in Germany, said. The fund aims to raise between EUR 200 -250 mln in equity and will be registered as a Luxembourg-based spezialfonds, he added.
‘This new Asian vehicle will target Japan, China, Singapore and Australia,’ he noted. ‘Our research indicates that China is attractive for retail, Singapore and Australia for offices and Japan for offices and residential.’………………………………………Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Arabianbusiness.com: The housing market in Doha is undersupplied by as much as 40,000 units, one of the Gulf’s largest real estate consultancies has said.
With more than 142,000 residents and just 102,000 properties available, Qatar’s capital city is a profitable market for developers, said Colliers International analyst JP Grobbelaar……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Asianinvestor.net: Transaction volumes in the region jump 44% in the third quarter against a 15% rise globally. This upward trend is forecast to continue given Asia-Pacific’s share of investible real estate.
Third-quarter data on real estate transaction volumes worldwide reaffirms the view that Asia-Pacific is a hot-spot in global terms……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Property-report.com: Asian property investors are feeling extremely optimistic, according to the recently released Colliers International Global Investment Sentiment Survey for Q3 2010.
91 per cent of Asian respondents to the survey said they wanted to buy property in their domestic region and 73 per cent of Asian respondents expect to expand their property portfolio over the next year……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Indiainfoline.com: On the investment front, India sits behind only Singapore and Poland in terms of growth in transaction activity when compared to the previous quarter. Despite investor enthusiasm, India continues to lag behind China on several forward looking indicators such as rental and capital value expectations, predominantly due to less supply constraints.
Indeed India ranks 3rd in the occupier availability tally behind the Netherlands and UAE This feature of the market continues to temper sentiment towards the likelihood for robust rental advance……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Livemint.com: Indiareit Fund Advisors Pvt. Ltd, the real estate fund promoted by Piramal group chairman Ajay Piramal plans to raise around Rs.1,350 crore in a debt fund and a rental yield fund early next year.
The debt fund will lend to property developers and the rental yield fund will invest in information technology parks and commercial offices in Mumbai, Bangalore, Pune, Chennai, Hyderabad and New Delhi, Indiareit’s managing director and chief executive officer Ramesh Jogani said……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Bloomberg: China’s property prices rose at the slowest pace in 10 months in October after the government raised interest rates and expanded measures to limit the risk of asset bubbles in the world’s fastest-growing major economy.
Home prices in 70 cities climbed 8.6 percent from a year earlier, China Information News, the statistics bureau’s newspaper, reported today. That’s slower than the 9.1 percent increase in September and the 8.9 percent median estimate in a Bloomberg News survey of six economists……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Dow Jones: Property prices in some cities in China are still too high and challenges remain to cool the overheated real-estate market, Caijing magazine reported on its website Monday, citing Zhang Ping, head of the National Development and Reform Commission.
The government’s property tightening measures have started to have an effect in places where prices have risen overly fast, Zhang was cited as saying……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From AFP: Hong Kong’s commercial property prices have soared to a historic high, the city’s biggest realtor said Tuesday, frustrating government efforts to cool one of the world’s priciest real estate markets.
A 79th floor unit in The Center — a downtown skyscraper owned by Hong Kong’s richest man, Li Ka-shing — recently sold for 338 million Hong Kong dollars (44 million US dollars), or about 25,580 Hong Kong dollars a square foot, according to government data……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Todayonline.com: Singapore and Hong Kong are the two most preferred property investment markets in Asia, according to real estate consultancy Colliers International’s Global Investor Sentiment Survey.
The latest quarterly survey found that 70 per cent of investors are only interested in their domestic market when looking to expand their real-estate portfolio……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Chinapost.com.tw: The measures to cool the Singapore property boom have taken some of the heat out of the en bloc market but there is still plenty of interest, say industry experts. They believe the steps that were announced on Aug. 30 have made developers more cautious, resulting in lower bids and fewer successful tenders.
Eight collective sales — they include Pastoral View in Bassein Road and Glenville in Lim Tua Tow Road — totaling S$369 million (US$286 million) have been completed since Aug. 30……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From WSJ: Sabana Shari’ah Compliant Industrial Real Estate Investment Trust, or Sabana REIT, filed a prospectus with Singapore’s central bank for an initial public offering intended to raise as much as 696.1 million Singapore dollars (about $541 million), in what could be the island nation’s first Shariah-complaint listing as it seeks to grab a larger share of the Islamic finance market.
If the offering succeeds, Sabana would also be the largest listed Shariah-compliant REIT by total assets globally. Its assets are estimated at S$850 million……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Themovechannel.com: Malaysia’s central bank said third-home buyers are now restricted to a maximum loan of 70% of the property’s value. The new rule, which takes effect immediately, aims to curb speculative investments in the country’s residential property market, which has seen higher-than-average price increases in some areas.
Financing for purchases of first and second homes will not be affected, Bank Negara said in a statement. First- and second-home buyers can borrow as much as 90% of the property’s value……………………………………….Full Article: Source

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Posted on 10 November 2010 by Laxman |  Email |Print

From Smh.com.au: Australian real estate investment trusts are very attractive to international investors due to the underlying quality of assets and stable economy, according to United States property advisers.
Ron Sturzenegger, the global head of real estate for Merrill Lynch, who is attending the firm’s inaugural Australian REIT conference in Sydney this week, said the one hurdle for his clients was the strong Australian dollar……………………………………….Full Article: Source

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