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Real Estate Briefing 12.May 2011

Posted on 12 May 2011 by Laxman |  Email |Print

Cross-border direct commercial real estate investment volumes reached $37 bn (EUR 26 bn) in Q1 2011, up 25% from a year ago, according to the latest Global Capital Flows report from Jones Lang LaSalle.
Inter-regional volumes (capital moving between the Americas, EMEA and Asia-Pacific) rose to $26 bn, a 70% increase over Q1 2010……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

It is nearly five years since the peak of the housing bubble, and that highly leveraged sector, with its $11 trillion in residential mortgage debt, continues to struggle. Home values just posted their biggest quarterly decline since late 2008, largely due to a steady stream of foreclosures.
But if we consider that the housing bubble inflated from roughly 1999 to 2006, that made seven fat years. An ancient authority would suggest that seven lean years should follow. That would mean two more lean years to go—not a bad prediction……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

Homeowners in ten cities across America have seen the value of their properties drop by up to 69 per cent in just five years as prices continue to plummet. The news comes just days after real estate data firm Zillow announced home values fell by three per cent in the last quarter, the biggest decline since the recession.
Prices were hardest hit in Merced, California, where the average value of a home has fallen from $343, 740 to $105,110 - a drop of 69.4 per cent - since the height of the real estate bubble in 2005……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

Financing provided by home sellers, popular in the 1980s when mortgage rates reached 18 percent, is making a comeback in markets such as Michigan that have been hit hard by foreclosures and where tightening lending standards and years of economic distress have drained the pool of creditworthy buyers.
For a small but growing number of people, it’s the only way to get a deal done……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

Last year in the US, there was a record 2.9m foreclosures highlighting the extraordinary collapse of the property market across the Atlantic. But some see this sorry state of affairs as an opportunity.
That bold outlook has resulted in some British investors buying property cheaply in the States – but is this too risky and can it make you money? Lee Boyce quizzes one of the companies marketing US repossessions to British investors and takes a in-depth look………………………………………Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

“It’s too good to be true.” While this statement is usually true, it appears to not be the case when talking about the real estate investment opportunities that exist right now for Canadians in the United States.
The combination of drastically reduced home prices, Canadian currency prices near an all-time high relative to the US dollar, and low financing options create what appears to be a once in a lifetime opportunity for Canadians to buy US real estate. Before we dive into the opportunities that exist, it is important to understand the genesis of these opportunities and why they exist……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

By mid-May, the spring home-selling season is usually in full swing. Homes look their best, and buyers rush to lock in deals so they can relocate in the summer. But this year, things are not so good. Despite low home prices, sales are sluggish as the market struggles to recover from the burst bubble of the past decade.
Many potential buyers are scared off by worries that a home bought this spring could be worth less a few months later, given that prices have fallen by more than 8% over the past 12 months, according to Zillow.com……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

European real-estate companies are seeking exemption from a law that could force them to set aside billions of euros by treating them like derivatives speculators.
Two groups representing about 520 property firms asked members of the European Parliament to exempt them from proposed derivative trading regulations that would require cash collateral to cover bets on interest-rate movements………………………………………Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

Europe-wide commercial property, as measured in local currency, returned 8.0% in 2010, according to the IPD Pan-European Annual Index.
The results, announced by Peter Hobbs, Head of Business Development at IPD in the IPD Pan European Webinar discussion, held at the IPD Offices in Farringdon, London, represent a significant improvement on the 1.4% recorded in 2009. 2010 marks the completion of a full 10-year history for the €1.5 trillion Pan-European index, which has recorded a 10-year total return of 6.1%……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

Corporates are set to allocate 30-40% of their office portfolios to flexible accommodation as flexibility becomes increasingly important, according to CB Richard Ellis (CBRE). As corporate become increasingly global and support a majority mobile workforce, the need for flexible space is ever greater.
The research was launched at CBRE’s International Seminar on Technology, Innovation and the Workplace, held in Warsaw……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

British housebuilders Barratt and Bovis Homes both said they expected to report a rise in profit after a pick-up in sales, although activity will remain limited by tight mortgage availability.
Barratt Developments, Britain’s largest housebuilder by volume, said yesterday sales rates returned to normal levels from 1 January to 8 May, with private selling prices up four per cent, driven by a move to houses from apartments……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

It’s spring - the housing market’s busiest time. But being slap bang in the middle of an economic crisis makes buying and selling an uncertain business for buyers and sellers alike, even during this normally buoyant season.
While, it seems house prices are still way beyond many people’s reach – particularly if you are a first time buyer – demand is also low. It’s pretty confusing……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

The London based debt team of Prudential Real Estate Investors, a division of Newark, NJ-based Prudential Financial Inc., has completed an $810 million fund to provide financing for commercial property transactions. The investment in the closed-end Pramerica Real Estate Capital One fund will primarily focus on assets in the United Kingdom and Germany.
The investment has come from global institutions, including pension funds and sovereign wealth funds from North America, Europe, the UK and the Middle East……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

The sale of new homes in France fell 24 per cent in the first three months of 2011, according to the federation of French property developers (FPI).
In a sign that the French property market may be starting to cool, sales of new homes fell from 20,054 units in the first quarter of 2010 to 15,162 between January and March 2011, the FPI reported in a statement……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

Despite a temporary livening up of the residential property market in Bulgaria over the past year, the prospects remain gloomy, concluded participants in a real estate conference in Sofia.
The experts discussed the matter at a panel discussion during the 2011 BalREc investments and real estate market conference taking place in Sofia Wednesday……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

With investment in the Czech Republic and CE real estate picking up, the profile of int’l investors coming to the market is changing. The new catchphrases of the Central and Eastern European (CEE) real estate market are beginning to fall into place.
The core markets of Poland, the Czech Republic, Slovakia and (to a lesser degree perhaps) Hungary can no longer be so easily tossed into the CEE mix, prime product in Prague or Warsaw is as good as or better an investment than that in many Western European capitals……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

Egypt’s real estate market seems to need more time to recover from the impact of protests that erupted on Jan. 25 as buyers wait for the house prices to continue to fall.
“I could not take any step to buy a new, larger one. All my friends advised me to wait as the prices will be reduced more in the coming period,” said Ameriah Mahmoud, a 38-year-old housewife who lives with her family in a small flat in Cairo……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

Istanbul has been named the top city in Europe for new property acquisitions and development in 2011 by a new report, as it is less likely to be affected by the economic problems affecting the rest of the continent.
For the second year in a row the annual Emerging Trends in Real Estate Report Europe from PwC and the Urban Land Institute puts Turkey’s largest city at the top of its chart for development prospects……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

With Dubai’s economy back on track, the emirate’s real estate sector is showing signs of improvement, with the head of Dubai’s Real Estate Regulatory Authority (Rera) revealing that the value of property transactions grew by a fifth in the first quarter of this year compared with the last quarter of previous year.
“The total value of transactions in Dubai in the first quarter was Dh30 billion ($8.2b) with 10,554 transactions, which is up by 20 per cent from Q4 of 2010,” Marwan Bin Ghlaita, the CEO of Rera, has been quoted as saying by newswire Zawya Dow Jones……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

Dubai’s real estate sector will bottom out in the first quarter of 2012, according to a new report published by the emirate’s business group.
The Dubai Chamber of Commerce and Industry study said oversupply was the main reason for prices declining so dramatically in the past two years……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

Equinox Realty, the property development arm of Essar group, plans to invest around Rs 4,000 crore to develop residential units across the country, said a senior executive of the company.
Equinox plans to launch 1.4 million sq ft residential project in Bangalore in the last quarter of calender year 2011 and a one-million housing project in Thane near Mumbai in the next one year. The company also plans to develop an information technology park in Bangalore and a mixed -use project in Nagpur in Maharashtra, the executive said……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

The series of property curbs rolled out by Beijing may have cooled residential house prices in China, but it has led to a surge of money into commercial real estate, according to global real estate services firm Jones Lang LaSalle.
“There are lots of people who want to buy apartments as an investment who can`t. But they can buy commercial properties. So we are seeing a surge of money coming from what we believe is the residential investors into the commercial sector,” Alastair Hughes, Asia-Pacific CEO of the firm said……………………………………….Full Article: Source

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Posted on 12 May 2011 by Laxman |  Email |Print

New Zealand property sales rose in April, though the median price fell and houses took longer to sell, according to the Real Estate Institute.
The volume of sales rose 3% to 4,987 last month, seasonally adjusted, compared to March, the institute said in a statement. The national median house price fell to $360,000 from $365,000 in March, and was up from $356,000 in April 2010……………………………………….Full Article: Source

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