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Real Estate Briefing 10.May 2011

Posted on 10 May 2011 by Laxman |  Email |Print

Home values posted the largest decline in the first quarter since late 2008, prompting many economists to push back their estimates of when the housing market will hit a bottom.
Home values fell 3% in the first quarter from the previous quarter and 1.1% in March from the previous month, pushed down by an abundance of foreclosed homes on the market, according to data to be released Monday by real-estate website Zillow.com. Prices have now fallen for 57 consecutive months, according to Zillow……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

More than 28 percent of U.S. homeowners owed more than their properties were worth in the first quarter as values fell the most since 2008, Zillow Inc. said today.
Homeowners with negative equity increased from 22 percent a year earlier as home prices slumped 8.2 percent over the past 12 months, the Seattle-based company said……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

In textbook economics, lower interest rates typically spur higher investments. Money is cheap. So the assumption is that people, banks and companies will spend more, therefore helping the economy grow.
But that doesn’t always work. Sometimes cutting the rate of interest, even to zero, won’t necessarily pull an economy out of a recession……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

Investors and analysts have tried to call the bottom in the housing market for years. Instead of trying to guess when home prices might stop falling, some investors have turned elsewhere to look for gains — and they’re finding them in the red-hot market for residential rental properties.
Going with the flow: Just five years ago, the key to success in real estate investing was simple: Buy just about any residential property, wait anywhere from a month to a year, and then sell it at a huge profit……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

The same economists shocked by the original housing crash (prices can’t go up forever?), now appear to be in the fetal position as the much too obvious second leg of the downturn has arrived.
While I do have an economist degree, living in the locale experiencing a 1 state Depression had me much more negative than those who live in the ivory towers of Manhattan or D.C.. I wrote a few years ago about a few articles that also opened my eyes to what was going on out there in the rest of the country. ………………………………………Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

Pramerica Real Estate Investors has completed its capital raising programme for its debut European real estate debt fund, securing £492m (€559m) in commitments from institutional investors.
Institutional investors, including pension funds and sovereign wealth funds, from North America, continental Europe, the UK and the Middle East provided the capital for the closed-end Pramerica Real Estate Capital 1 fund……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

Parallel to the economic recovery, investor sentiment in global real estate improved in first quarter, with Germany seeing the sharpest boost in Europe, according to the RICS Global Commercial Property Survey. Second quarter harbours a positive outlook for the region.
Investment in commercial property in Europe improved in 14 of the 19 markets monitored by the Royal Institution of Chartered Surveyors, with more countries expecting a rise in rents and capital values than in previous quarters……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

House prices look set for a “double dip” this year, even if the economy as a whole manages to avoid it – with a total real-terms deprecation in property values of close to a third since the peak of 2007, say analysts.
The news comes despite evidence of a lift in activity. The Royal Institution for Chartered Surveyors said that 8 per cent more chartered surveyors reported a rise rather than fall in new instructions, up from 4 per cent more in March……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

Property prices plummeted at the fastest annual rate for 18 months in April as low consumer confidence continued to undermine the housing market.
And house prices in Scotland are likely to fall further despite a jump in the number of home sales last month, according to a report out today from the Royal Institution of Chartered Surveyors (Rics) Scotland……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

UK commercial property returns fell to 2.3% in the first quarter of 2011, according to the IPD UK Quarterly Property Index, as the re-pricing from the downturn appears to be running its course. The rate of capital growth fell by 50 basis points, to 0.8%.
Phil Tily, UK and Ireland Managing Director at IPD, told delegates at the IPD/IPF/PDIG Quarterly Q1 briefing, that: “While in the overall context of the recovery period this is a relatively sedated pace of growth, it nevertheless marks the seventh consecutive quarter of improving values……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

The real estate investment manager CBRE Investors will launch a specialist UK property fund next week, targeting investments from defined contributed (DC) pension schemes.
CBRE is seeking to raise more than £1bn (€1.2bn) in total for this new open-ended fund, which will be the first one to be run by an investment manager focused mainly on real estate……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

A Spanish road-show led by their development minister Jose Blanco and their housing secretary Beatriz Corredor is doing the rounds of Europe in an attempt to rehabilitate the Spanish housing market in the eyes of investors.
They are desperate to shift the massive 700,000 strong stock of newly built properties, of which over 400,000 are near the coast, that have now stood empty since the credit crunch started the economic downturn……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

Russians buying real estate abroad tend to purchase property in Europe for investment purposes and are seeing up to 12 percent annual returns, a real estate agency said last week.
The most frequently targeted countries include Britain, Austria, France, Switzerland and Germany, said Igor Indriksons, head of the international investments department at IntermarkSavills……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

Developers face mounting losses in the second quarter of 2011 as unrest continues to sweep across the Middle East and North Africa, data from Zawya has shown.
According to the online business intelligence platform, several multi-million dollar projects have been put on hold, a move that has increased the strain on a number of developers and the local real estate markets……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

In less than a year from now, Dubai will be home to the top four tallest residential towers in the world. The list compiled by the Council for Tall Buildings and Urban Habit currently puts The Torch (348 metres) in Dubai at the top position.
Q1 Tower, off Gold Coast, Australia, at 323 metres comes in second, while HHHR Tower in Dubai at 318 metres takes the third place. As of today, the list has six towers from Dubai. All that will change by January 2012 when Tameer Holding, a property development company, commences handover of Princess Tower and Elite Residence in Dubai Marina……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

Chinese property developers are facing increased losses and stagnant sales in the midst of Beijing’s attempts to cool the hot property market.
“The recent government control over its property market has restrained half of the demand. Small property developers will first feel the pinch,” said Zhang Dawei, an analyst with the Beijing-based Centaline Property……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

China’s commercial property market became more attractive to foreign investors and multinational companies amid the country’s tightening curbs on the residential sector, a global real estate solutions consultancy leader said.
“China’s market (in some tier one cities including Beijing and Shanghai) was the only market in the Asia Pacific region that saw stable rent, even during the recent global financial crisis,” Sigrid G. Zialcita, managing director of research for Cushman & Wakefield’s Asia Pacific branch said……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

China’s real estate bubble gets as much play as China’s currency. While the yuan is seen as a trade distorting, US job killer, potential fall out from the country’s rising real estate prices is seen two ways.
One, for the China naysayers, it’s an “I told ya so.” Two, for China investors, it’s a potential weapon of mass destruction. Or is it?………………………………………Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

The moribund Vietnamese property market may see a glimmer of light through an increasing number of mergers and acquisitions (M&A).
According to Savills Viet Nam real estate agency expert Troy Griffiths, there was a rapid need for cash among investors that boasted large land reserves but lacked capital to invest, resulting in a rising number of M&A deals……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

Sekisui House Ltd., Japan’s second- largest home builder, will focus on the local market after expanding overseas as it expects the nation’s biggest housing boom in at least 15 years after the March 11 earthquake.
Housing starts, which dipped below 1 million units in 2009 and 2010 for the first time in four decades, may rebound as homeowners rebuild after the nation’s strongest temblor, Isami Wada, chairman of the Osaka-based company, said in an interview……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

Australia’s AUD74.6bn (€56bn) Future Fund is looking to bolster its investment in private equity, property and infrastructure, according to IPE sister publication IPA.
The fund’s current asset allocation has it heavily invested in hedge funds, with AUD12bn (16.3%) in alternative assets – which excludes its infrastructure (AUD3.5bn), property (AUD4.45bn) or private equity (AUD2.5bn) investments……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

House prices are flattening out, but remain about 2 per cent down in the past year according to valuation group QV. Nationally, property values have been relatively stable for several months, after falling for most of last year.
Values in April were down 1.9 per cent on the same time last year and remain 5.8 per cent lower than the peak of the property price boom in late 2007……………………………………….Full Article: Source

Posted on 10 May 2011 by Laxman |  Email |Print

Positive sentiment towards real estate is being felt in an increasing number of countries, according to the Q1 2011 RICS Global Commercial Property Survey. It shows that more property professionals - particularly in emerging Europe - appear increasingly bullish towards the occupier market.
In addition the survey suggests a positive outlook for Q2 2011, with more countries expecting rents to rise and capital values to increase than in previous quarters……………………………………….Full Article: Source

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