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Real Estate Briefing 17.Nov 2010

Posted on 17 November 2010 by Laxman |  Email |Print

From WSJ: The real-estate-investment-trust industry is turning 50 years old this year and, to celebrate, landlords are giving investors a gift: bigger dividends. Some of the nation’s largest commercial real-estate companies, including Simon Property Group Inc., Kimco Realty Corp. and Nationwide Health Properties Inc., raised their quarterly dividends this month, and more companies are expected to follow suit in the months ahead.
The higher payouts reflect the higher rents and better occupancy levels, which are boosting the income pool for dividends……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Bloomberg: Confidence among U.S. homebuilders improved for a second month in November, a sign residential construction may hold at depressed levels.
The National Association of Home Builders/Wells Fargo confidence index increased to a five-month high of 16 from a revised 15 in October that was weaker than initially reported, data from the Washington-based group showed. A reading of 17 was the median forecast in a Bloomberg News survey of economists……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Automatedtrader.net: Wednesday’s report by the Commerce Department is expected to show another dip in U.S. housing starts, evidence of the continued stagnation in the housing sector. According to a survey of economists by Market News International, housing starts are expected to drop from an annual pace of 610,000 to 590,000.
Kim Rupert, economist at Action Economics, said in a telephone interview that her expectations are for “a leveling-off at this point,” given the severity of the drop-off in sales following the expiration of the homebuyer’s tax credit……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Canada.com: The latest in a seemingly never-ending series of housing stats came out today. This time it’s the National Association of Home Builders in the United States. The trade organization has what amounts to a confidence index which measures how confident they are about the housing market. The answer is not very confident at all, but more confident than they were last month.
The index in November rose one point to 16, the highest level since June, according to USA Today……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From WSJ: Sellers of commercial property unhappy with today’s low valuations and tight financing market can commiserate with the federal government. The economic downturn has also made the job of the General Services Administration tougher.
It has never been easy for the federal agency, which manages about 380 million square feet of leased and owned real estate, to sell government properties that are either vacant or obsolete—that can range from homes once used by park rangers to environmentally contaminated industrial properties……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From CNNMoney.com: Looking to spruce up your home and wondering what will give you the most bang for your buck at resell time? Install new fiber-cement siding. That cost an average of $13,382 and returned 80% of the investment, according to Remodeling magazine’s 2010 Remodeling Cost vs. Value survey, done in partnership with the National Association of Realtors (NAR).
Like every other renovation job though, it returned a lower percentage of its costs in added home value this year than it did in 2009……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From WSJ: At the national level, the housing-market outlook remains generally gloomy. But for at least two years, some experts have argued that lower home prices and very low interest rates make this a perfect time to buy a house. The question, though, is where?
Experts say buyers can mitigate their risk by looking at markets with steady economies and low odds of falling prices. According to data from The PMI Group, a mortgage-insurance company, more than a quarter of the country’s 381 metro areas have a smaller than 30% chance of seeing lower home prices two years from now……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Benzinga.com: Commercial real estate is in a structural cliff-dive, currently in slow-motion but soon to gather momentum. With all the hub-bub about the foreclosure crisis in residential real estate, commercial real estate (CRE) has fallen off the radar screen of crises. Don’t worry, it’s still careening off the cliff; the fall is just in slow motion.
No need for a fancy report to see the signs of decay in CRE. Signs of the ongoing CRE meltdown are everywhere–empty storefronts, mall shops and vacant office complexes abound……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Vancouversun.com: It’s been a stomach-clenching year for many Canadian homeowners — at least those who took seriously the frequent warnings that Canada was going through a housing bubble. That evoked the kind of catastrophe we’ve seen in the U.S, which really did suffer from such a bubble.
But as Monday’s figures on October home resales make clear, any such fears were unfounded. Prices and home sales are holding up just fine……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Reuters: Rising inflation caused by surging commodity prices could negatively impact European retail property markets next year, causing occupier demand to weaken and prompt further tenant defaults, a report said on Tuesday.
“One of the key destabilising risks on the horizon is rising inflation … as raw material prices are increasing globally, retailers will invariably pass on the cost to consumers,” the report by property consultancy King Sturge said……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From BBC: The recent fall in house prices has been confirmed by official government figures. Prices dropped 0.7% in the three months to September according to the monthly index published by the Department for Communities and Local Government (DCLG).
That compared with a rise of 1.6% during the preceding three months. A 0.8% drop in September alone pushed the cost of the average UK home down to £211,815, just 6.1% up on a year ago……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From WSJ: British Land PLC, one of the U.K.’s biggest retail-space landlords, on Tuesday said there are signs that renewed demand from large retailers is pushing up rents in the sector after many companies put their expansion plans on hold during the financial crisis and resulting economic downturn.
However, the recovery is restricted to the prime retail property sector such as out-of-town retail parks, and not town-center properties, which remain mired in a downturn……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Fundstrategy.co.uk: Some 74% of investors are likely to add to overseas property over three next three years, with almost 60% boosting exposure to Asia Pacific, according to Aviva Investors.
The fund manager, which surveyed 110 British investors in November, says only 20% of investors intend to increase exposure to British real estate and only 11% to American property……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Propertyeu.info: The average shopping centre provision per 1,000 inhabitants amounts to about 210 m2 in Poland and is below the EU-27 average, according to the latest research published by Savills.
This, combined with forecast rising retail sales, increasing consumer credit and higher employment, will attract development in major agglomerations Savills says……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Safestore.co.uk: Homeowners who are looking to purchase a property in Spain have been advised that there are some good deals on offer. Les Calvert, director at Property-Abroad.com, explained that depending on where people look, there are some bargains open to them.
He noted that the Costa de la Luz is currently offering some favourable prices as it is still an up-and-coming region of the country……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Asiaone.com: The residential market here is unlikely to crash despite the Government’s introduction of more cooling measures, said Mr Png Poh Soon, senior manager of research and consultancy at Knight Frank.
Prices in the mass market might ease by 5 to 10 per cent in the next 12 months, but those in the mid- to high-end will remain flat, he said……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Mmtimes.com: Property prices are set to rise next fiscal year as foreign investors home in on the Yangon real estate market, industry sources say. “Sales and prices are cool now, but things will get brisk in March and April as investors hunt for property,” said Daw Myo Theint Theint Htwe, the manager of Yong Xin real estate agency.
July to September sales were brisk as local investors put their money into real estate ahead of last week’s election. Then, unlike in previous years, the market cooled in October as would-be buyers and sellers awaited the results of the poll, she said……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Bloomberg: Ichigo Group Holdings Co., Japan’s third-biggest publicly traded property manager, aims to boost assets to at least 300 billion yen ($3.6 billion) by February for funds that will invest in Tokyo office buildings.
The increase in assets is the first in three years based on half-year figures from the company. The Tokyo-based firm, which had 266.6 billion yen under management as of August, plans to start “several” funds over the next few months, said Chairman Scott Callon, declining to elaborate because information is private……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From Smartcompany.com.au: The retail property market is showing improved signs in 2010-11, after a soft period during the economic downturn in the Australian economy.
Recent improvements to a range of economic and financial conditions have increased consumer and business confidence levels. This has flowed into the demand for retail goods and services, the main driver of retail demand……………………………………….Full Article: Source

Posted on 17 November 2010 by Laxman |  Email |Print

From News.com.au: Sydney’s famous Harbour vista is driving an unprecedented international land grab as overseas buyers snap up premium homes and office buildings across the city.
A surge of money from Asia, along with traditional European investors, is driving demand in the CBD, North Shore and Eastern Suburbs, cementing Sydney as the fourth most popular city for international investment on Earth……………………………………….Full Article: Source

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