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Real Estate Briefing 16.Dec 2010

Posted on 16 December 2010 by Laxman |  Email |Print

From Bloomberg: Confidence among U.S. homebuilders was unchanged in December from a month earlier, indicating residential construction will stay near depressed levels.
The National Association of Home Builders/Wells Fargo index of builder confidence held at 16, matching the median forecast of economists surveyed by Bloomberg News, data from the Washington-based group showed today. Readings below 50 mean more respondents said conditions were poor………………………………………Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Reuters: U.S. home-builder sentiment remained unchanged at historically low levels in December, fresh evidence the U.S. housing sector faces a tough road back to health, according to a survey released on Wednesday.
The National Association of Home Builders/Wells Fargo Housing Market Index remained at 16 in December, in line with expectations of economists polled by Reuters……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Torontosun.com: Existing home sales rose for the fourth straight month in November, suggesting Canada’s real estate market is levelling out after a year of dramatic swings. The Canadian Real Estate Association said November’s seasonally adjusted resale activity via its Multiple Listing Service was up 4.8% compared to October.
“Following the chilling lows at the onset of the recent recession and the dizzying heights during the subsequent recovery, the national housing market appears to be returning to some semblance of normalcy,” said CREA chief economist Gregory Klump……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Europe-re.com: UK commercial property values appreciated by 0.1% in November, contributing to a compounded 6.6% capital growth over the year to date, as measured by the IPD UK Monthly Index.
Bulk of this capital appreciation was delivered over the first six months of the year, driven by a 70 basis points equivalent yield compression from last December to June, ending the period at 7.5%. Fractional compression over the past five months has seen a further 10 basis points fall……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Telegraph: According to the Building Societies Association (BSA), many people believe the current property downturn presents buying opportunities. Is this just another example of our blind faith in the housing market – or are these investors on to something?
David Hollingworth, of London & Country mortgage brokers, says: “Much depends on what the motivation is for buying. If you are expecting a sharp increase in value, then you are going to be disappointed. All the indications are that this is not going to happen for the next year or so. At best prices will be flat, and they may even go down over the year.”………………………………………Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Guardian: A survey by the Building Societies Association says next year will be a prime time to buy. But this doesn’t mask the fact that alternative data paint a much bleaker picture.
The best time to enter the housing market will be within the next year, according to a survey by the Building Societies Association (BSA). Its Property Tracker poll of 2,047 consumers found that 59% of people would buy property immediately or within the next year, given sufficient resources, while a further 11% said they would buy within two years……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Telegraph: House prices are expected to fall next year amid a backdrop of widely predicted rising interest rates and tighter mortgage lending. Here’s a summary of the latest data – although figures are not directly comparable as it is taken from different months.
Martin Ellis, housing economist at Halifax, said: Higher numbers of properties for sale, combined with reduced demand, have caused the recent decrease in prices……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Propertyeu.info: German investors are showing more interest in regional capitals in the UK as a way of diversifying their London-dominated holdings. Glasgow was top of the list in November. Union Investment acquired the 6,308 m2 Equinox Building in Glasgow.
The price for the fully let Grade-A building was kept confidential but it is believed to have been in the region of £28.3 mln (EUR 33 mln)……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Reuters: Libya will bankroll most of a 116 billion Egyptian pounds real estate project launched jointly with Egypt’s housing ministry to offer homes for millions of young Egyptians, an official said on Wednesday.
Libya would provide 78 percent of the capital for the 5,600 acre al-Fatih city on the outskirts of Cairo to be built over the next twenty years, while Egypt will pay the rest, said Abdel-Hamid Shaer, media adviser at the Housing Ministry……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Thenational.ae: The economic downturn in Dubai has turned the science of property valuation into something of a guessing game, industry experts say. Richard Paul, an associate director in Dubai for the consultancy Cluttons, said it was “very, very difficult” to place an exact price on property, said.
The old formulas simply do not work in the current market, analysts say. In many areas there are few or no recent transactions to use for comparisons. And prices paid a few months ago may not have any relevance today……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Globest.com: Asia will, by far, lead the rest of the world in new office development next year, and likely for the next decade, according to CB Richard Ellis. In its report “Global Office Development Cycle: Where Are We Now?” the company predicts that only Asia among the four major global regions — Asia, Western Europe, North America, and the Pacific — will witness significant growth in office completions in 2010 and 2011.
Of the 293 million square feet of office expected to be completed in the next two years, about 65% will be in Asia, according to the report. About 24% of the rest will be in Western Europe, while only 8% will be in North America. About 4% will take place in Australia and New Zealand……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Business-standard.com: The investigation wing of the Competition Commission of India (CCI) has suggested forming model real estate regulations to safeguard customers from discriminatory treatment.
It has cited examples of building regulations from at least eight developed nations to point out how the absence of proper regulations are helping the real estate industry to frame clauses that are against consumer interest……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Indiatimes.com: Mumbai will lead the Indian office space supply with more than 25 per cent share, followed by Bangalore and Delhi with 19 and 17 per cent, respectively, in 2011-2012, a real estate services firm said.
India added around 55-million sq ft of office space in 2010 and is expected to add around 50-million in 2011-12. Additionally, real estate transactions which were on the rise in 2010, will continue to increase in 2011 as well, the firm — CB Richard Ellis (CBRE) India said today……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Ibtimes.com: Residential real estate in 35 large and medium-sized cities in China is, on average, about 29.5 percent overpriced, according to estimates of the Chinese Academy of Social Sciences (CASS).
Furthermore, it estimated that real estate prices will rise by 15 percent in 2010, down from 25 percent in 2009. In 2011, it said prices can rise further if government measures aimed at curbing the real estate market are relaxed……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Nasdaq.com: China’s real estate market has been flying like a rocket ship. Though there are concerns that it may be moving too fast, there’s an easy way to ride the uptrend with a China real estate exchange traded fund(ETF).
You can be a part of the property boom in China without actually buying any property. That’s the beauty of ETFs……………………………………….Full Article: Source

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Posted on 16 December 2010 by Laxman |  Email |Print

From Todayonline.com: Credit Suisse expects residential property prices in Singapore to increase 5 per cent in each of the next two years, on top of an estimated 15 per cent gain this year because of low interest rates, a growing population and strong economic expansion.
Any weakness in the global economy, further measures by the government to cool the property market and a hardening of interest rates will be key risks to the residential real-estate market here, it said……………………………………….Full Article: Source

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