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Real Estate Briefing 18.Nov 2010

Posted on 18 November 2010 by Laxman |  Email |Print

From Propertyeu.info: Prime retail rents in the world’s leading retail destinations have stabilised, with some markets now witnessing rental growth as the economic recovery gathers momentum and consumer confidence starts to improve, according to CB Richard Ellis’ (CBRE) latest Global Retail MarketView.
Demand for prime retail space in most markets remains strong, with some cities seeing substantial annual growth at the end of the third quarter of 2010……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Property-report.com: The Nielsen Global Consumer Confidence Survey index has revealed Asian consumers as the most confident region in the world, bucking the global trend with a score of 98.
Followed by the Middle East and Africa at 97 points, the Asia region surpassed the global average of 90 and nine of the top 10 most confident nations were in Asia-Pacific: India, Thailand, Australia, Indonesia, the Philippines, Singapore, China, Malaysia and Hong Kong……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Investortoday.co.uk: As 2010 draws to a close, attention is turning to the best locations to invest in property in 2011. The last year has been one of mixed fortunes with traditional second home destinations such as Spain, Italy and Greece still feeling the harsh effects of the economic downturn whilst other mostly non-euro zone countries such as Brazil, Turkey and Egypt flourished.
Overall levels of property investment rose in 2010 compared to 2009 with savvy investors capitalising on the bargains available as the property cycle reached bottom. Below market value residential developments such as those in Florida sold quickly as did properties with rental guarantees and finance packages as buyers sought security and minimal monetary exposure……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From AP: US housing starts plunged to a near-record low in October while building permits were flat amid a depressed real-estate market, official data showed Wednesday. Construction on new homes dropped nearly 12 percent from September, to an annual rate of 519,000 units, the Commerce Department reported.
The pace of construction was the weakest since April 2009, when a record low of 477,000 was reported in the data series that began in 1959……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Businessweek.com: Home construction likely declined in October with expected decreases in both single-family and apartment construction. Economists with JPMorgan Chase in New York were forecasting that housing construction dropped 5.7 percent to a seasonally adjusted annual rate of 575,000 units in October. The Commerce Department is scheduled to release the new report at 8:30 a.m. Wednesday.
In September, housing construction rose 0.3 percent to an annual rate of 610,000 units after an even bigger 10.5 percent gain in August……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Bloomberg: Home ownership may be falling out of reach for more Americans as lenders toughen their standards for Federal Housing Administration-insured loans beyond what the agency itself requires.
Mortgage lenders including Wells Fargo & Co. and Bank of America Corp., the two largest, have raised the minimum credit score on FHA-insured loans that they will buy to 640 from 620. About 6.3 million people fall within that range, according to FICO, which created the formula for the ratings. ………………………………………Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From WSJ: Home prices in many of the wealthiest ZIP codes in the New York metropolitan area are starting to inch up as the market for these high-end areas stabilizes.
However, some economists say that prices could wobble at the bottom for a number of years before sustaining a significant rise……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From WSJ: The best time to jump into the housing market in NY. The miracle of New York real estate is that all the world’s treasures come packaged into this one beautiful state, including beaches, parks , mountains, lakes, islands, fabulous cities, and wonderful villages.
These attractions combined with a favorable climate and warm, friendly people make New York a perfect destination for any kind of real estate investment. New York has become an even more attractive option to invest in real estate due to its historic appreciation in real estate. Thus, purchasing a home in Westchester NY may be a terrific investment……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Forbes.com: As millions of Americans were looking in vain to unload their homes this summer, Thomas Toomey bought 1,374 of them for an average of $300,000 each. The $412 million outlay left his Denver-based apartment company, UDR, with 58,800 units worth $7.6 billion.
Toomey is buying for a simple reason. He’s convinced that rising rents will drive up the profits he can earn leasing out those homes to record levels over the next several years……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Propertyweek.com: US commercial real estate has continued its rebound with an improved capital growth of 3.2% in the third quarter, according to Investment Property Databank’s US Quarterly Property Index.
The quarterly growth rate is an improvement on the second quarter’s 2.1% and brings the compounded six-month rise to 5.5%. The rebound has been driven by yield compression – the all-property yield has dropped 60 basis points to 6.5%……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Assetz.co.uk: Commercial property market watchers in the US have predicted that as the economy grows investments in the sector will rise by as much as 40% next year compared to this.
There will be around $92 billion (£58 billion) worth of deals competed for by buyers and sellers for apartment, office, industrial and retail properties this year, according to commercial property broker Jones Lang……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Theglobeandmail.com: As the U.S. housing sector crashed, a handful of investors made billions of dollars because they had the foresight to short the market. They were able to cash in because most of the mortgages issued during the U.S. property boom were repackaged and resold to other investors.
Owners of the investments were willing to lend them out to be sold short, because they didn’t understand the extent of the crisis to come……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Propertyeu.info: European property markets now offer more attractive returns to investors, with the latest all-property DTZ Fair Value Index (FVI) Q3 2010 score for Europe standing at 55, an increase from 49 in Q2.
Although Europe is still less attractive than other markets globally, as revealed by the global FVI Q3 score of 63, the European index is now above 50, meaning there are more ‘hot’ markets than ‘cold’, DTZ said on Wednesday……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Propertyeu.info: Vacancy rates and supply - particularly shopping centre development - will be the most important drivers of retail property markets and performance in 2011, according to a new report ‘European Retail - 10 Key Drivers for 2011′ released by global consultant Cushman & Wakefield.
The report, which was launched at MAPIC in Cannes, examines the top 10 factors set to have an impact on the outlook for retail trading and retail property in Europe next year……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Propertyeu.info: Retail assets have accounted for 31.5% of total commercial investment in France since January 2010, according to property adviser Savills. This represents a record high volume of EUR 2.5 bn, up 247% compared to the same time period in 2009.
Sales of shopping centres and malls accounted for 64% of the market, totalling EUR 1.6 bn, including the acquisitions of Cap 3000 by Altaréa/ABP/Predica for EUR 450 mln, 75% of Espace Saint Quentin bought by Allianz and 51% acquired in O’Parinor by Korean pension fund NPS……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Dutchnews.nl: Eight of the country’s 10 biggest local authority areas are planning to put up business property taxes, according to research by employers organisation VNO-NCW.
Groningen tops the list with a 10.3% rise in tax for commercial property owners. Utrecht is increasing the tax by 8.2% and Eindhoven 7.3%. Rotterdam, by contrast, is cutting its property tax rate by 4%……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Europe-re.com: According to international real estate advisor Savills, Italy is seeing an improved interest from investors as yields stabilize at 6.25-6.5% for prime shopping centers and 7-7.25% for retail parks.
The research shows that the supply of quality products in the investment market has improved, and this has caused prime yields to stabilize……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Observer.com: There has been much talk lately about the potential of a dangerous real estate bubble in Israel’s cities. The Observer’s Laura Kusisto asked last week if Israel — where foreign buyers of luxury properties have not only rapidly and substantially driven up the cost of housing, but have created a fragile market — may compare to Dubai’s and to the US, whose real estate crashes were felt around the world.
Meanwhile, Bank of Israel Governor Stanley Fischer, the former MIT professor and Chief Economist at the World Bank, also last week, told a Knesset finance committee that an unusual phenomenon of Israeli parents helping their young married children buy first homes was also skewing the real estate market to make it look more similar to those countries which have had a bubble……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Arabianbusiness.com: Landlords in Dubai malls have raised their rents for next year by as much as 35 percent, the head of one of the emirate’s largest retail conglomerates has said.
Leaseholders can expect a significant hike in shop rents following a pick-up in sales across the emirate, said Abdulla Al Gurg, group general manager of Easa Saleh Al Gurg Group, which operates brands such as Better Life, United Colours of Benetton and Unilever……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Thestandard.com.hk: Institutional, private investor and equity funds will continue concentrating on Asia for the foreseeable future, given the prevailing global economic performance. The focus on Asia is understandable, particularly on Shanghai, Hong Kong and Singapore, where property rents are anticipated to grow further.
The latest Colliers International Global Investor Sentiment Survey highlights the optimism of Asian investors in the third quarter……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Cri.cn: Home buyers from the United States and Europe leapt back into the Singapore property market in the first nine months of this year, chalking up 70 percent more purchases compared to a year ago.
Property consultancy Savills Singapore said that the total number of purchases by Americans jumped to 246 units this year from 154 last year, while sales to Europeans shot up to 619 units from 353 in the same period last year……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Smartcompany.com.au: Australian commercial property is heating up, with retail property in the Gold Coast and Melbourne industrial properties among some of the best value assets available, a new report from DTZ has revealed.
But research director David Green-Morgan says the latest results for the Fair Value Index indicate buyers need to act quickly, with prices set to rise over the next few years and block potential investors out of the market……………………………………….Full Article: Source

Posted on 18 November 2010 by Laxman |  Email |Print

From Thestar.com: We are probably entering into a period of stable house prices, a so-called balanced market where buyers and sellers are roughly equal in numbers. This is good news for buyers who face reduced pressure of price wars and also means sellers will have to work a little harder.
My hunch that this is happening, is based on recent statistics showing that while sales have decreased year over year, Canadian home prices remain stable. A big factor is probably rates that remain at historic lows……………………………………….Full Article: Source

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