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Real Estate Briefing 08.Dec 2010

Posted on 08 December 2010 by Laxman |  Email |Print

From Citywire.co.uk: Economic conditions are not forecastable with the effects of the global financial crisis and subsequent use of quantitative easing to boost the economy remaining unclear, according to Andrew Nicholas, head of global property securities at First State.
Nicholas (pictured) said that the First State Global Property Securities fund had teams based across the globe specialising in particular markets and in weekly telephone link-ups they discuss how the fund should be positioned for ‘black swans’ (undirected and unpredicted events) that could be positive or negative……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From BBC: Some 58% of Americans expect the US housing market to stay depressed for two or more years, a survey has found. In the survey, 48% of respondents said they would consider walking away from their mortgage if they were in negative equity - up from 41% since May.
The findings by property websites Trulia and RealtyTrac come as house prices have begun falling again. They suggest the market may face a new wave of mortgage defaults as Americans lose respect for scandal-hit banks……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Theatlantic.com: The housing market has changed a lot in the past six months. Sales plummeted when the home buyer credit expired. Then foreclosuregate struck, slowing seizures and clouding the buying process with greater uncertainty.
Although the housing market already seemed to be on a slow road to recovery, these setbacks appeared to prolong the sector’s misery. A new survey by Trulia, a major homebuyer website, and RealtyTrac, the leading online marketplace for foreclosures, reveals that most Americans don’t expect the housing market to recover for years……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Nytimes.com: As Nouriel Roubini heads to Athens to meet with investors and policymakers potentially about the debt crisis in Europe, the economist says he’s increasingly worried about a problem closer to home: America’s real estate mess.
The country’s real estate problems are “underappreciated,” and banks could face another $1 trillion in housing-related losses, Mr. Roubini said in a phone interview with DealBook on Monday. At the same time, he played down the issues in Ireland, Greece, Portugal and Spain, calling the matter “contained” for now……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Dailymail.co.uk: Living in France is losing its appeal among Britons - searches for property by retired Britons and others have slumped by 10 per cent in the past month. Meanwhile, interest in Spain and the U.S. is booming.
Because of the sub-prime mortgage problems in the U.S., it is possible to buy a one-bedroom apartment in the Florida resort city of Orlando for only £15,000. It is more than 20 years since Peter Mayle published his semi-autobiographical novel A Year In Provence, which triggered an exodus across the Channel……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Torontosun.com: The Canadian housing market is likely to cool further in 2011, returning to more normal long-term growth patterns after a decade-long bull run, according to a report by RE/MAX.
The real estate company forecasts housing sales will fall 5% to 441,000 homes this year and remain flat in 2011. Prices however will continue to rise, gaining 7% this year and 3% next as a lack of supply outweighs falling demand, RE/MAX said……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Ctv.ca: One of Canada’s largest realtors says the real estate market is looking up for 2011.The past year hasn’t been a banner year for real estate in Calgary. According to RE/MAX, we’re on track to finish the year down 22 percent compared to 2009.
“The first quarter was very active but when we got into the spring and summer we noticed a dramatic drop off in the purchases but also a large increase in listings,” says Lowell Martens from RE/MAX……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Globalpropertyguide.com: Aruba is a puzzle. Apparently an attractive investment with an expanding tourism industry, with both affordable and luxurious properties, the growth of Aruba’s real estate market has been sluggish.
There are no official data such as average house prices per sq. m. and rental prices in Aruba, so it is difficult to analyze the market. However, three-bedroom family homes can be found in Oranjestad, the island’s capital, and in surrounding areas at prices typically ranging from………………………………………Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Irishtimes.com: Has the commercial property market bottomed out yet? Rents in prime commercial markets have bottomed out. We believe prime yields are close to the bottom of the curve.
There is still downward pressure on rental and capital values of secondary property. There will continue to be a wider divergence between the value of prime and secondary properties in 2011……………………………………….Full Article: Source

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From Propertywire.com: French commercial real estate investment market has seen a 41% increase with €6.9 billion transacted in the first nine months of the year, according to a new report.
It has gained in momentum since its low point in 2009 when the total annual investment volume did not exceed €7.8 billion, the report from Cushman & Wakefield shows……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Reuters: The Czech commercial property market will continue its recovery next year with rising interest in offices and shopping centres, but volumes will stay well bellow pre-crisis levels, agent King Sturge said on Tuesday.
The international property consultancy firm expects resilient demand in 2011 for offices in the downtown Prague and dominant shopping centres there and in Brno, the country’s second-largest city……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Reuters: Egypt plans to bring in simpler procedures to secure mortgages, aiming to lift the number of customers by 15,000 next year, boosting the nascent market for housing loans, an official said on Tuesday.
Red tape and conservative lending rules have hamstrung Egypt’s mortgage sector. Mortgages make up under half a percent of gross domestic product (GDP), compared to 14 percent of GDP in Morocco and more than 80 percent in Britain in 2008……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Jpost.com: There is no bubble in the local real-estate market, even though housing prices are rising faster than rents, Bank of Israel Deputy Governor Zvi Eckstein said.
“Housing prices in Israel and worldwide are characterized by a long-term upward trend,” he said at the Israel Geographical Association’s annual conference in Jerusalem. “This trend constitutes a financial risk when the business cycle starts to turn bearish.”………………………………………Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Thenational.ae: King Abdullah Economic City, the master-planned development under construction on Saudi Arabia’s Red Sea coast, is reconfiguring its plans to focus on more low and middle-income housing, says the developer.
“With the financial crisis we don’t have as much demand and we’re not developing as fast,” said Fahd al Rasheed, the chief executive of the developer Emaar, The Economic City, a joint venture with Emaar, the developer based in Dubai, and the Saudi Arabian General Investment Authority……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Indianexpress.com: Post-the economic downturn and capital restructuring, the Indian real estate sector is back on the growth track with realty companies’ interest burden declining by 10 per cent, according to a report by Dun & Bradstreet.
The increase in equity capital by realtors led to a sharp fall in their debt-equity ratio to 0.66 from 0.83 in FY 09, a positive development for the sector, the report ‘India’s Leading Real Estate Companies 2010′ said……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Stockmarketsreview.com: Mumbai property market, which observed enormous augment in prices in fresh years, which complete the city to go into in the association of earth’s most classy cities, is currently feeling the warmth of hold up. Real estate sales that have been mounting at a knock of about 20% every year have been rounded by 17% in 2007-08.
While hold back news of real estate bazaar in country’s fiscal capital has been much spoke about, but it was unique that figures confirmed the amount of hold back……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Theepochtimes.com: Recent, sizable increases in Chinese land and real estate prices are believed to be a result of mistaken regime monetary policy, exacerbated by local Communist Party officials dipping their hands—often deeply—into the money pot.
Data from the China Research Index Institute (CRII) show that land and real estate prices in China have increased drastically this year. From Jan. 1 to Nov. 22, Shanghai’s land sales totaled 137 billion yuan; Beijing ranked second at just over 100 billion yuan……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From WSJ: Hong Kong may be getting used to its latest property shock. Deutsche Bank notes that Hong Kong government measures designed to slow the heady pace of home-price appreciation are slowly being digested. House visits have increased in volume, and homeowners have been softer with their asking prices, the bank says.
As a result, this past weekend saw an uptick in sales. Top estates saw 35 transactions, up 80% on week. However, this still below average of 40 transactions registered prior to government measures in mid November……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Xinhua: Hong Kong and Singapore are its most favored of 11 Asian property markets, said Pacific Star Group one of Asia’s leading real estate investment houses in its press release.
The Group made the conclusion in its biannual Asian Property Outlook and Strategy report. Included in the study were also Bangkok, Beijing, Delhi, Ho Chi Minh, Kuala Lumpur, Mumbai, Seoul, Shanghai and Tokyo……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Asiaone.com: Singapore and Shanghai rank top among Asian cities as the best real estate investment destinations, while Osaka and Manila are seen as the least ideal, an industry survey showed on Monday.
Singapore topped the rankings on the country’s strong economic growth and brisk activity in the financial and high-tech industries, according to the survey jointly published by the global non-profit Urban Land Institute and PricewaterhouseCoopers……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Todayonline.com: The Asian Development Bank (ADB) said yesterday that Singapore’s fast-rising home prices are “worrying”, as real-estate lending accounts for more than half of total loans in the banking system.
According to the latest issue of the ADB’s Asia Economic Monitor, the share of property-related loans in total loans is as low as 9 per cent in South Korea, 15 per cent or less in Indonesia and the Philippines, and below 20 per cent in Hong Kong, Thailand and China……………………………………….Full Article: Source

Posted on 08 December 2010 by Laxman |  Email |Print

From Arabnews.com: Global house price recovery loses steam as over half of all countries see negative growth in Q3, 2010, according to findings of the Knight Frank Global House Price Index results. According to the key findings average annual global house price growth in Q3, 2010 stood at 3.1 percent.
“The strongest world region was Asia-Pacific with average growth of 9.9 percent, and the weakest was Europe at 0.8 percent. The Q3 growth rate this year is up substantially on the Q3, 2009 figure of -6.2 percent when European markets were delivering very negative results. However the rate is down on the 4.3 percent hit in Q2 this year,” it added……………………………………….Full Article: Source

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