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Real Estate Briefing 19.May 2011

Posted on 19 May 2011 by Laxman |  Email |Print

Rick ShargaMore than half of U.S. homeowners and renters say housing won’t recover until at least 2014, reflecting a deepening pessimism about the real estate market, according to a survey by Trulia Inc. and RealtyTrac Inc.
The survey, taken in April, found that 54 percent of respondents don’t expect a recovery for at least three years, up from 34 percent in November, the two real estate data companies said today. Those who see a turnaround by the end of next year fell to 15 percent from 27 percent……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

For U.S. homeowners, the family moving in next door could be Canadian. Or Chinese. U.S. real estate, especially on the high end, is getting support from international buyers. If U.S. buyers find homes attractively priced, global buyers are finding a fire sale once exchange rates are figured in.
According to a report released Wednesday by the National Association of Realtors, foreign clients spent about $41 billion in U.S. housing in the 12 months ended in March 2011……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

If you are a buyer, the current housing market continues to afford good opportunities, whether as a principal residence or as an investment property. If you are looking for beachfront housing in Florida, there may not be a better time than to buy now. But then the housing market remains in a flux driven by high unemployment and record foreclosures.
It’s true the housing market is much improved from a year ago, but there continue to be problems……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

New-home construction fell last month as a slowly growing economy has yet to revive the moribund housing market.
Construction of homes and apartments dropped 10.6% in April to a seasonally adjusted annual rate of 523,000, compared with a month earlier, the Commerce Department said Tuesday. Home starts are down 23.9% from the same month a year ago, reflecting a market that has struggled as foreclosures drive down prices and builders face financing difficulties……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

Of the many asset classes to be victimized by the end of cheap energy, residential real estate is perhaps the most vulnerable. A call option on future wage growth, and, leveraged to our liquid-fuel based transport system, housing in North America is currently making its way back to the stable, but barely appreciating asset it once was.
However, having started this journey only recently there is still a long way to go. A long way in price that is, for housing to fall……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

Institutional investors overtook publicly traded real estate investment trusts as the largest acquirers of U.S. office buildings in the first quarter, a sign of widening demand that may push property prices up.
Buyers including pension funds, insurance companies and sovereign-wealth funds added a net $1.39 billion to their office-building holdings in the first quarter, compared with $1.1 billion for REITs, according to data from CoStar Group Inc. (CSGP)………………………………………Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

Canadian home prices continued their upward march in April, driven by strong investor demand in Vancouver, while cracks in the Toronto condominium market may be starting to appear.
The Canadian Real Estate Association said Tuesday the average price of a home sold in April across the country was $372,544, up eight per cent from a year ago………………………………………Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

The top six locations in eastern Germany show the same dynamic rental growth for residential property as their six counterparts in the west of the country, according to listed German property company Patrizia Immobilien.
In a new report, Patrizia said that even though rents in top locations in western Germany are higher than in the east, eastern cities offer investment potential because western German markets only have a limited supply……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

One-third of Swiss Pensionskassen surveyed by Swisscanto did not answer the question whether Switzerland was facing a real estate bubble.
Real estate investments were a focus in this year’s survey, in which more than 360 Pensionskassen took part – a record number……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

When it comes to hot real estate markets, Norway wouldn’t be the first place to pop into the thoughts of most investors. Not that it isn’t wealthy enough. Big oil revenues and fiscally responsible policy makers have provided a terrific cushion against the tide of troubles afflicting so much of Europe. But it’s a small country with only a couple of publicly traded property firms.
Yet when I ask a top analyst, Jan Willem Vis, the Dutch-based chief investment officer of global real estate with BNP Paribas Investment Partners, to name his favourite under-the-radar market in the world, he doesn’t hesitate……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

PensionDanmark was the big winner at this year’s IP Real Estate Awards in Amsterdam, taking home no fewer than five prizes – including Best European Real Estate Investor.
The Danish pension fund also scooped the awards for the Nordic Countries, Best Innovation, Best Sustainable Investment and Best Large Real Estate Investor……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

” Large purchasers” have disappeared from real property market of Azerbaijan. President of Azerbaijan Realtors Association Vafadar Akhundov has reported that emission of large amount of money is needed to activate the market.
” If earlier the market activity was kept due to major purchasers buying properties for AZN 600-700.000 or even 1 million today only small deals are concluded at the market by necessity. The market operates only because somebody selld a flat and has to buy another one. No other serious sale-purchase operations of real property take place”,- V. Akhundov said……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

There seem to be plenty of good reasons to avoid Egypt’s battered real estate sector, yet some investors are tiptoeing back into stocks seen as less exposed to legal probes of questionable state land sales.
The industry, a motor of Egypt’s decade-long investment boom, was undermined by crony capitalism. Now it is bearing the brunt of widening corruption probes after a popular uprising swept President Hosni Mubarak from power in February……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

The improvement of the middle segment of the housing business in Turkey is discussed during a real estate summit in Istanbul. The country’s real estate stock is expected to double by 2020 from a total of $239 billion. Noting the growth potential of Istanbul, an expert from MIT highlights the balance between growth and sustainability
The middle segment of the housing business in Turkey is still in a phase of development while the luxury houses and residence market is reflecting rather stable growth, according to a recent report discussed during the REState summit held in Istanbul……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

“What percentage of people can dream of buying a house for half a million dollars?” Qadir asked. “I was expecting that these projects were aimed at helping out the poor and reducing the housing problem in the Region, but what I see is a different picture.”
Since the legislation of the Kurdistan Region’s Investment Law in mid 2006, and among hundreds of investment projects implemented by the private sector in all three Kurdish provinces, more than 100 housing and residential projects have been licensed and put into implementation phase……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

Recent announcements of new home finance schemes have helped lift real estate prices in the Kingdom, Injaz Managing Director Omar Abdullah Al-Kadi said on Wednesday. “The supply is limited and the demand is enormous,” he said.
Al-Kadi also said land prices were rising because of the demand created by new home finance schemes. He indicated that the recent royal decrees had strengthened the real estate sector……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

The Asia Pacific real estate market has continued to see positive sentiment and increased activity in the first quarter of this year, according to Jones Lang LaSalle’s Asia Pacific Property Digest. It added that rents have increased across most markets.
Jones Lang said positive business sentiment and continued corporate hiring underpinned the Asia Pacific office leasing market, as occupancy levels improved on higher corporate space requirements in most markets……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

According to the latest RICS India Commercial Property Survey, despite the rising interest rates and inflation continuing to rem-ain relatively high, the mar-ket has shown considerable resilience.
Over the last quarters, there had been an increase in demand from tenants, albeit at a slower rate than in the previous quarter. This is most pronounced in the office sector, altho-ugh given the extensive supply pipeline within the sec-tor; there might be a const-raint on further rental value growth……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

Kotak Realty Funds Group , the PE arm of Kotak Bank , is aiming to raise 600 crore through its fourth realty fund to be launched in the next few days. The fund will be mopped up from domestic market and invest predominantly in residential properties across India. It will have a green-shoe option of 100 crore.
“We will launch our fourth fund soon. Some of our first fund investors who received the entire principal in addition to over 20% return have already shown interest in participating in this new fund. We should be able to conclude this fund raising within the next few weeks, that is early June,” said S Sriniwasan, CEO of Kotak Realty Fund……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

China’s home prices rose in 67 of 70 cities monitored by the government in April from last year, led by smaller cities that are defying efforts to control property prices nationwide.
Housing prices increased at a faster pace in smaller cities and slowed in major ones, data posted on the statistics bureau’s website today showed……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

With 1,788 homes sold in April, representing a 29 per cent increase and a five month high, Singapore is emerging as a safe destination for investment. Unaffected by the devastating earthquake in Japan and far away from the political revolt sweeping the Middle East, Singapore is seeing home prices reach record highs.
With an annual growth rate projected at 23.5 per cent after the first three months of this year, the Singaporean government began to enact new rules and regulations to cut back speculation……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

The Phuket real estate market is maturing, with the re-sale property sector becoming far better established according to the Phuket Chapter of the American Chamber of Commerce (AMCHAM), which recently met to discuss current market trends in markets like Phuket, Bali, Koh Samui, Pattaya and Hua Hin.
“Following the global financial crisis we have seen a large increase in demand for re-sale property in Phuket and throughout Thailand,” says Adam Smith, market analyst for Ocean Villas Group……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

The Indonesian property market is undergoing massive expansion, but most Indonesians will not be able to take advantage of it unless the government fixes the land laws, industry players have said.
The current growth of the market has seen prices rise some 20 per cent or more per year in major cities, the Jakarta Globe reported……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

The number of condominiums offered for sale in Tokyo and surrounding areas fell more than expected in April after the Tohoku quake raised concerns among developers that demand may slow.
The number of new condos put on the market dropped 27.3 percent from a year earlier to 2,336 units, the Real Estate Economic Research Institute said in a report Wednesday. The pace of decline was faster than the 25 percent the researcher and publisher had forecast last month……………………………………….Full Article: Source

Posted on 19 May 2011 by Laxman |  Email |Print

The recovery underway in domestic commercial property markets is unique in that, unlike past rebounds, it is not reliant on the balance of supply and demand of physical space, according to Australian Unity Investments head of property Martin Hession.
“The pace and the profile of the commercial property market recovery through 2011 is going to depend heavily on events in financial markets and a recovery in investor confidence,” Hession said……………………………………….Full Article: Source

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