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Real Estate Briefing 02.May 2011

Posted on 02 May 2011 by Laxman |  Email |Print

Some US developers are targeting the Chinese property market, especially housing for senior citizens. The number of people in China are reaching retirement age will surpass the US population in less than 40 years, and it’s predicted that this will happen by 2050.
A number of US companies are already doing business in China, developing and managing assisted living and senior living communities. These include CRSA, TransGlobal Assets and Merrill Gardens, while Emeritus and Columbia Pacific Advisers have joined forces to explore opportunities in China……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

Alvaro UribeHouse prices in Colombia rose strongly in 2010, boosted by a peaceful transition to a new president, and generally bright economic prospects. House prices market are expected to continue rising in 2011, aided by Colombia’s investment rating upgrade in March to investment grade. In 2010, average house prices rose 9.25% (6.38% in real terms).
Colombian house prices are on a rising upswing – the y-o-y price rise to Q3 2010 was 8.30%, after a 6.60% y-o-y price rise to Q2, and 5.45% price rises in 2009……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

As the NY Times highlighted this weekend, commercial real estate is also falling again: Prices for both homes and commercial real estate are falling again. Meaningful improvement may have to wait until there are many fewer distressed properties for sale.
Indexes of the two markets showed this week that the latest declines had almost wiped out the mild gains the two markets had shown after prices appeared to have hit bottom……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

International investors across EMEA represented nearly 35% of transactional activity in the first quarter of 2011, up from 31% in the final quarter of last year, according to new data released by C&W.
Foreign buyers were an important source of added demand in a number of countries which bucked the downward trend in activity between Q4 and Q1, including Belgium, the Czech Republic and the Ukraine amongst others. Domestic buyers are growing more competitive in a number of other areas however, which bodes well for greater activity over the coming months……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

Around 185,000 people in Britain are now‘property millionaires’ with homes worth £1million or more, research reveals today. It highlights a housing apartheid in this country, with many people living in homes worth a fortune - but others unable to get onto the ladder.
With an average salary of £26,000, few can afford to buy when the average price of a home is around £162,000……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

The average asking price for a home in the United Kingdom was down 3.3 percent on year in April, property intelligence group Hometrack said on Monday, standing at 153,100 pounds.
That follows the 3.2 percent annual contraction in March. House prices were flat on month, Hometrack said, after easing 0.1 percent in March. It marked the first month in nine that failed to see a decline……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

The price of land earmarked for residential development in London is soaring as developers battle to secure sites with planning permission and to secure exposure to the capital’s booming housing market.
Land values have grown by 12.5pc over the last six months, according to new research by Savills, as an overhaul of planning laws has also caused a scramble for small, serviced sites……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

A positive economic outlook and continued market growth helped fuel a rise in transactional activity in the first quarter of 2011, according to international real estate advisor Savills.
By the end of Q1 2011, total turnover reached SEK 19.5 bn (EUR 2.18 bn), up from SEK 18.5 bn in the same period a year before. This quarterly upward trend began last year with investment volumes increasing each quarter in 2010. In addition, retail transactions in Q1 2011 have already reached half the 2010 year total, at SEK 4.3 bn……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

Belgian commercial property delivered its highest return since 2008 last year, at 4.6%, according to the IPD Belgium Annual Property Index. The improving returns were delivered despite a third consecutive year of capital decline, at -1.2%, though this represents a considerable slowing of capital depreciation, by 140 basis points, from the -2.6% suffered in 2009.
Income return incurred a moderate fall from 6.2% to 5.9% in 2010……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

Demand for housing units in the Kingdom is expected to increase this year by between 25 and 35 percent compared to previous years, according to a new study.
While the demand for medium-sized apartments will grow at great speed, the demand for small apartments and large housing plots will fall, according to the report prepared by the Research and Development Department of the KSB Capital Group and published by Al-Eqtisadiah daily on Saturday……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

It’s the toughest job in the Gulf, isn’t it? Trying to predict the fortunes of the UAE real estate giants is no easy task, particularly in the face of a recession that has hit the industry hard. But there are some brave souls who make their living assessing the performance of these stocks.
Many huge public companies hang on the every word of analysts, which can devastate or boost their share price in equal measure……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

The number of cash buyers in Dubai has reduced significantly as the market now driven by end users and home finance being readily available, according to experts.
“The market is now being dominated by end users rather than speculators. This is coupled with the fact that finance is now more readily available from banks at attractive rates. So I assume that the number of cash purchasers in the market has reduced,” Gregory Antioch, Head of Residential Sales, Cluttons Dubai, said……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

Over the past month Kipp has written quite a few articles on the incredulously ridiculous things property developers in Dubai say. The fact our developer friends are in a serious state of denial is not exactly breaking news, in fact it’s probably getting rather old, so excuse Kipp if we bring you one last instance of our favorite brand of Dubai developer doublespeak, but we can’t help ourselves.
Before we let you know what we are on about, a little background. Earlier today, the local press reported that the tallest residential tower in the world is now ready for handover. The Torch is a 348-meter-high 86-storey residential tower at Dubai Marina……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

The pledging of shares is a mechanism through which an investor or a lender can ensure a company or a borrower delivers a promised return or repays a loan within the stipulated period. When the company defaults on the pledge, the shares are sold.
PE funds that focus on real estate have got such pledged shares from their portfolio companies……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

Chinese Premier Wen Jiabao on Sunday visited a low-income housing construction site in eastern Beijing, extending Labor Day holiday greetings to workers and stressing the central government’s determination to stabilize prices of the real estate and to advance a healthy development of the sector.
“I chose this low-income housing construction site for a visit on Labor Day, which fell on Sunday, as the central government has attached great importance to the construction of new low-income housing units,” said the premier……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

More signs of ongoing weakness in the property market have appeared, with official price indices statistics showing Australian residential properties have dropped in value by 1.7% over the March quarter.
The result comes alongside auction statistics from last weekend, which show a less-than-stellar result as the number of properties on the market continues to exceed those looking to buy, experts warn……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

It will be surprising for many people to find out that prime office in Singapore is more expensive than in Lower Manhattan. Singapore is known to have a very low political risk, a strong export economy, and a well-known presence as the hub of the South East Asian region.
Countries with positive fundamentals and relatively lower barriers of entry for foreign investors become magnets for foreign capital, resulting in more competition among foreign investors. The Singapore real estate market is such an example. ………………………………………Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

South Korea’s government announced policy measures to aid troubled builders and the property market, including tax incentives for real estate investment trusts that buy unsold housing. In recent months, 29 of South Korea’s 100 largest builders applied for financial support due to a prolonged construction and real estate slump.
“Investors are cheering supportive measures by the government especially given many builders had underperformed other sectors this year,” said Im Jeong Jae, a Seoul-based fund manager at Shinhan BNP Paribas Asset Management Co., which oversees about $30 billion. “Still, we’ll have to see how effective their measures are.”………………………………………Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

South Korea plans to provide support to local builders and actively dispose of soured construction loans in a bid to boost the sluggish construction sector, government officials said Sunday.
The government also said it will offer tax benefits on real estate investment trusts and funds to lure investments in a pile-up of unsold houses in an effort to boost housing market transactions. A set of steps were drawn up by collaboration with the land ministry, the finance ministry and the financial regulator……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

The fear factor is certainly alive and well for property investors reading the March 5 edition of The Economist magazine. The global wrap up of property and in particular its role in the asset price bubble that ultimately fuelled the global financial crisis is a well documented, if salutary, read.
But for Australian investors the description of property markets in the UK, Ireland, Middle East and the US and the inherent risks probably resonates in the same way a review of the property market on Mars would - i.e. we live in a different world……………………………………….Full Article: Source

Posted on 02 May 2011 by Laxman |  Email |Print

Home buyers in Auckland, New Zealand’s largest city, are returning to the property market and beginning to reduce the volume of unsold houses, according to a survey.
The inventory of homes for sale in Auckland fell 9 percent to the equivalent of 34.8 weeks of sales in April from 38 weeks in March, according to figures on realestate.co.nz, the industry website. Nationally, inventory rose 1 percent after increasing 9 percent in March……………………………………….Full Article: Source

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