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Real Estate Briefing 09.May 2011

Posted on 09 May 2011 by Laxman |  Email |Print

Housing prices in the United States crested in 2007, following nearly a decade of unprecedented increases fueled by a perfect storm of easy credit conditions, sub-prime lending, predatory lending and fraudulent underwriting practices.
When the housing bubble burst, the consequences were far reaching, affecting home values, home supply retail outlets, home builders, foreclosures and the mortgage, credit, hedge fund and foreign bank markets. The burst has been blamed for causing the worst financial crisis in the United States since the 1930s’ Great Depression……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

Paul BishopThe buyers’ market for vacation homes is likely to continue for years, with activity largely limited to buyers with enough cash to circumvent a tighter, post-recession lending environment.
Thirty-six percent of all vacation-home buyers in 2010 did not use a mortgage — versus 29 percent the year before — while more than half of them financed less that 70 percent of the purchase price, according to the National Association of Realtors. Of those who bought a second home as a rental investment, 59 percent paid cash……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

The housing’s troubles may have a silver lining. If you’re a homeowner, the steep fall in prices is calamitous. But if you’re a future buyer, it’s a godsend. What we’re seeing is a massive wealth transfer from today’s older homeowners to tomorrow’s younger homeowners.
From year-end 2006 to 2010, housing values fell $6.3 trillion, reports the Federal Reserve. Assuming there’s no sharp rebound in prices — a good bet — that’s $6.3 trillion the young won’t pay……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

British first-time homebuyers have become less pessimistic about property values as a growing number call the “bottom of the market,” Rightmove Plc (RMV) said.
Thirty-three percent of people who intend to purchase their first property in the coming 12 months said prices will be higher in a year, the operator of Britain’s biggest property website said………………………………………Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

Property prices in the United Kingdom are set to fall for the next five years as the market enters its biggest slump for at least half a century, according to UK economists.
The gloomy outlook published last week by UK’s National Institute of Economic and Social Research (NIESR), predicts that prices will fall 4.5per cent this year and 10.5per cent by the end of 2015, the longest period of decline since records began in the 1960s……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

Direct commercial real estate investment in the UK climbed 41% year-on-year to £8 bn (EUR 9 bn) in the first quarter of 2011, highlighting a return of cautious optimism to the market, according to new research released from Jones Lang LaSalle (JLL).
During the first three months of the year, the UK retained its position as the largest investment market in Europe, the Middle East and Africa (EMEA), capturing 38% of the capital flows, compared with 35% in Q1 2010……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

Around EUR 5.53 bn of commercial property changed hands in Germany in the first three months of 2011 (Q1 2011), according to international real estate advisor Savills. Retail transactions accounted for 55% of the total transaction volume and 65% of total portfolio deals.
The two major transactions in Q1 were both in the retail sector each with a volume of EUR 700 mln……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

The aim of this strategic partnership is to invest readily available funds out of Topland Group of Companies’ (TLG’s) capital allocation of up to €2 billion in the asset class real estate. The funds are to be deployed directly into controlling positions of long-term anchored, sale and leaseback and other cash-yielding scenarios.
There are no limitations on scope or structure of the investments to be made……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

The Swedish capital is one of the best places in Europe for property investments, according to a recent report.
The news comes via the Urban Land Institute and Pricewaterhouse Coopers, whose analysts ranked Stockholm as number four among European cities regarding real estate acquisition opportunities. The study, entitled ‘Emerging Trends in Real Estate Europe’, ranked Stockholm number five overall and number one in the Nordic region……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

The UAE’s property market, which suffered one of the biggest crashes during the global crisis, is gaining momentum.
House prices have fallen by around 60% from their Q4 2008 peak, according to Jones Lang LaSalle, but positive economic growth, strong government support, and mortgage lenders returning to the market are helping property prices stabilize, though local analysts are generally pessimistic about future price prospects……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

Bahrain is considering collecting up to 3% of the value of investments by real estate firms to fund community projects.
According to the proposed scheme, investors of developments worth between BD1m and BD5m will have to pay 1% of the value of the project to fund municipal schemes, while developers with projects worth between BD5m and BD10m will be asked to pay 2% and those with projects worth more than BD10m 3%……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

New Delhi-based research firm PE Analytics has drawn up plans to launch a real estate price index in partnership with a leading commodity exchange.
P E Analytics owns and operates PropEquity, an online subscription-based real estate data and analytics portal covering over 27,000 projects of 5,100 developers across 40 cities in India. The data and analytics enable clients to spot market trends and maximise risk-adjusted returns……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

With the government’s ongoing and persistent efforts to cool the red-hot property market, Chinese property developers are struggling to sell properties while becoming more encumbered with debt.
The debt of the country’s property developers rose 41.27 percent year on year to 1.05 trillion yuan (about $161.53 million) by the end of March, the Wind Information, a Shanghai-based financial data provider, said in a recent report……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

Residential property prices in 100 major cities in China increased by 0.40 per cent in April, slightly slower than in March, the latest figures from the China Real Estate Index System show.
It means that prices have now risen for eight months in a row although the figures indicate that the pace of price increases is slowing as it was 0.59 per cent in March but there are still concerns about real estate inflation……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

The surge of the last 24 months in the Hong Kong real estate market appears to be coming to an end. Higher lending rates and government action has created a 38 per cent drop in property purchases in April compared to the same month last year and a 27 per cent decrease from March.
Banned under its constitution from limiting incoming capital flow and with its currency still pegged to the weakening US dollar, the amount of money in circulation in Hong Kong has skyrocketed in recent years……………………………………….Full Article: Source

Posted on 09 May 2011 by Laxman |  Email |Print

First-time home buyers will welcome the call to raise the income ceiling to qualify for new HDB flats, property analysts said yesterday, a move which will also benefit the sandwiched class.
National Development Minister Mah Bow Tan has hinted that the income ceiling for new build-to-order (BTO) flats could be raised to S$10,000 - from the current S$8,000 - after the General Election……………………………………….Full Article: Source

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