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Real Estate Briefing 03.Dec 2010

Posted on 03 December 2010 by Laxman |  Email |Print

From Reuters: U.S. commercial real estate prices rose 2 percent in November and are up 32 percent from their recent lows as investors flock to higher-yield investments, according to independent research firm Green Street Advisors.
That means about half the value that was wiped out from 2007 to 2009 has been restored, leaving prices 19 percent shy of their peak, according to The Green Street Advisors Commercial Property Price Index. Prices peaked in August 2007 and fell as much as 38.3 percent by May 2009……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Bloomberg: Pending sales of U.S. existing houses unexpectedly jumped by a record 10 percent in October, indicating the industry at the center of the last recession is stabilizing as the job market improves.
The increase in the number of Americans signing contracts to buy previously owned homes followed a 1.8 percent drop in September, the National Association of Realtors said today in Washington. Another report showed claims for jobless benefits over the past month on average dropped to a two-year low……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From UPI: U.S. home buyers are finding steep discounts in the marketplace with 25 percent of home sales involving foreclosed property, an online seller said Thursday.
In the third quarter, homes in some stage of foreclosure sold for 32 percent less than homes not involved in foreclosure, Realtytrac.com reported……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Cutimes.com: RealtyTrac, a leading online real estate firm specializing in foreclosed properties, reported that homes in some stage of foreclosure made up 25% of real estate purchases in the third quarter of 2010.
The firm reported that almost 189,000 properties in some stage of foreclosure sold in the third quarter, a decrease of 25% from the previous quarter and 31% from the same period of last year……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From 247wallst.com: Pending home sales rose in October, according to the National Association of Realtors. The news comes just a day after S&P/Case-Shiller data showed a drop in home sales. Perhaps there are more homes for sale at lower prices. There is not enough data from any sources to make an affirmative conclusion.
“The Pending Home Sales Index, a forward-looking indicator, rose 10.4 percent to 89.3 based on contracts signed in October from 80.9 in September. The index remains 20.5 percent below a surge to a cyclical peak of 112.4 in October 2009, which was the highest level since May 2006 when it hit 112.6,” the NAR reported……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From CNNMoney.com: Despite some of the best home-buying conditions in years — affordable prices, low interest rates and lots of choices — fear of buying has infected the market.
It has paralyzed house hunters, making them unable to pull the trigger even on attractive deals. Some are worried about making the payments, while others are convinced they’ll save even more if they wait……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Marketwatch.com: Home-price appreciation weakened to its slowest pace in more than 10 years in the 12 months ending in November, MacroMarkets and Standard & Poor’s reported. Home prices fell in 17 of 20 cities in November compared with October.
The S&P/Case-Shiller home-price index for 10 major metro areas fell 0.4% in November compared with October, bringing the year-on-year price gain down to 1.3%. The index covering 20 cities also fell 0.4% in November and has gained 1.7% in the past 12 months……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Globest.com: The real estate country of the year award should go to Brazil, which has turned its economy from high risk due to hyperinflation, debt and volatile currency into an attractive investment vehicle with a mounting middle class and high GDP (compared to the rest of the world).
An Ernst & Young survey says this celebration could go on, as many savvy investors say they plan to put at least a toe into the Brazilian pool……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Propertyeu.info: ING Real Estate Investment Management expects the continued economic recovery in much of Northern and Western Europe to generate high single-digit returns for real estate investors over the next three to five years, particularly in the retail sector, but increasingly also in office markets.
Commenting on ING REIM’s annual Global Vision 2011 report which was released today, Tim Bellman, Global Head of Research at ING REIM, told PropertyEU: ‘Within Continental Europe, we are most positive about retail and prime shopping centres in core markets……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Europe-re.com: The ongoing debt crisis in the euro zone does not seem to have impacted the sentiment in the real estate industry. While the survey-based Real Estate Climate of the King Sturge Real Estate Economy Index did soften for the first time since February 2010 as it dropped by 0.1% from 137.0 to 136.9 index points, the change is actually too negligible to suggest actual movement.
In any case, the latest score keeps the Real Estate Climate – now for the sixth consecutive month – far above the 100-point threshold that signals positive ratings from the majority of the roughly 1000 market experts polled……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Propertywire.com: Next year is likely to be more of the same for the UK real estate private lettings market with tenant demand remaining high, it is claimed.
The autumn has seen demand from tenants increase by 32% compared to the same period last year with rental stock, on the other hand, down by 12% over the same period, according to Caroline Kavanagh, group lettings director of Badger Holdings Group, parent company to Townends Estate Agent……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Bloomberg: London luxury-home values rose in November for the first time in five months as the debt crisis in the euro region prompted more buyers to compete for a dwindling number of homes for sale, Knight Frank LLP said.
Prices of houses and apartments costing at least 1 million pounds ($1.6 million) rose 0.9 percent from October, the London- based property broker said in a statement today. The annual gain was 11 percent, the smallest since January……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Mellersh.co.uk: The central London commercial property market is home to one of the most remarkable building projects in Europe, which on completion will result in the tallest property in the EU, it has been claimed.
Designed by the international architect Renzo Piano and due to be ready by 2012, the Shard is an indication of the English capital’s new economic poise, according to BSR Russia’s economics editor Chris Meakin……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Assetz.co.uk: The Spanish and Portuguese property markets could receive a timely boost if the countries’ joint bid to host the 2018 FIFA World Cup is successful.
The joint bid is battling it out with rival candidates including England and Russia to stage the multimillion-pound tournament, A Place in the Sun reports……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Kippreport.com: The Middle East’s largest private luxury developer, DAMAC Properties, has won a prestigious International Property Award for DAMAC Tower, its landmark collaboration with VERSACE Home in Lebanon.
DAMAC Properties beat a field of international developers to win the award for “Best High Rise Architecture” for its luxury DAMAC Tower development in Beirut. The award was announced at a gala ceremony in London at the weekend……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Moneycontrol.com: Asian governments have imposed a raft of measures aimed at preventing their property markets from taking off too quickly, but the region still offers investors some of the most prospective real estate globally.
House prices in Asia have doubled in many cases in the past two years. So after various measures to take the heat out of markets, especially in China and Hong Kong, it is almost inevitable that returns will cool next year……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Business-standard.com: Baring Private Equity Partners (BPEP), the global PE major, will begin investing in Indian real estate in the next six months, according to a top executive of the fund.
BPEP India was looking at investing from its $650 million Baring India Private Equity Fund III, said Varun Batra, partner, BPEP India……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Todayonline.com: Residential property prices in China’s 100 key cities rose 0.8 per cent last month from a month earlier, according to the China Real Estate Index System (CREIS).
Shenzhen stood out as the city with the highest average property price at 24,601 yuan ($4,840) per sq m, followed by Shanghai, Beijing, Hangzhou and Sanya, the private data provider said……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Asiaone.com: An increasing number of foreign institutional investors are flooding into China’s property market via taking part in the development stage, lured by the sector’s high investment returns and the country’s solid economic fundamentals.
Statistics from the Ministry of Commerce on Tuesday showed that a total of 114 foreign-funded real estate companies went on the record in November, either for the launch of a new company or to provide a capital boost for those already in existence……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Bloomberg: China’s 10 million unit target for 2011 public housing development will affect property prices and volumes, further weakening buyers’ “sentiment,” Credit Suisse Group AG said.
“If the government’s plan is strictly implemented, we expect more than 5 million units of public housing to be delivered in 2012,” analysts including Jinsong Du wrote in a report, maintaining the nation’s property industry at “underweight.” The plan is “negative” for property but will boost demand for steel, cement and home appliances……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Todayonline.com: Hong Kong’s property market is facing fresh controversy in the aftermath of the government’s new stamp duty aimed at curbing speculation.
After a series of aggressive analyst forecasts for property prices in the next two years, it appeared as if the government was spurred into action. But it seems to have pleased no one with its 15 per cent stamp duty on all properties bought and sold within six months……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Reuters: The Singapore government said on Thursday it will increase the supply of land for residential development in the first half of 2011, as it tries to cool the housing market.
It said its first half 2011 land sales programme will have a total of 30 sites available for residential development that can generate about 14,300 private residential units. This is higher than the land for 13,900 units offered in the second half of 2010……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Reuters: Taiwan’s finance ministry said on Friday it is planning to impose a special tax on investment properties frequently traded or traded within a year.
Lee Ching-hua, chief secretary of the ministry, made the comments to reporters. No further details were immediately available……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Thailand-business-news.com: Oversupply fears will slow the Thai property market for a couple of months before positive sentiment will resume next year, according to local developers. Mayta Chanchamcharat, director and chief business officer of Pruksa Real Estate said concerns about a possible property bubble in Bangkok and the Bank of Thailand’s announcement capping condominium mortgages at 90 per cent of value from January 1 have quietened the market due to a retreat of speculators and investors.
Real estate experts say medium-priced condos near mass transit are at particular risk of missing their sales targets next year, as developers have built too many……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From VietNamNet Bridge: The construction costs have been increasing sharply and the supply is believed to become profuse in the time to come, thus making real estate developers feel worried. They have to offer many preferences to buyers in order to boost sales.
The owner of the 40-storey building Time Tower in Ha Dong district in Hanoi has luckily sold the apartments he intended to sell. A lot of investors have purchased apartments in large quantities. The quick sale of the apartments seems to be a big surprise to many people, who think that houses are selling very slowly due to the low demand……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Ifaonline.co.uk: Two years or so after the start of the financial crisis, it is timely to reassess the rationale for holding commercial property as part of a balanced portfolio and review how private investors can access the market. It is also worth considering, in light of the turbulent experience of recent years, how investors’ property portfolios might be structured in future.
Commercial property markets typically comprise retail (such as shopping centres, retail warehouse parks or shop units), offices or industrial premises……………………………………….Full Article: Source

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Posted on 03 December 2010 by Laxman |  Email |Print

From Todayonline.com: This year has been a rewarding year for the industrial property market. The overall momentum of the industrial property sector has been strong and more sustainable than that of the private residential sector. Besides continued rental recovery, factory units and multiple-user warehouses have received strong buying interest.
In the first 10 months of this year alone, a total of 1,491 factory units were transacted, a 45 per cent increase from the whole of last year……………………………………….Full Article: Source

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