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Real Estate Briefing 31.May 2011

Posted on 31 May 2011 by Laxman |  Email |Print

Pete FlintThe desire to own your own home, long a bedrock of the American Dream, is fast becoming a casualty of the worst housing downturn since the Great Depression.
Even as the economy began to fitfully recover in the last year, the percentage of homeowners dropped sharply to 66.4 percent from a peak of 69.2 percent in 2004. The ownership rate is now back to the level of 1998, and some housing experts say it could decline to the level of the 1980s or even earlier……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

Investors who are wondering how housing prices are doing often pay close attention to the Case-Shiller Home Price indexes.
These indexes tell investors and others interested in home prices what’s going on in 20 major cities in the U.S. There are also composite indexes that examine the broad nationwide trends in home prices. Chances are when you hear that home prices have risen or fallen, you’re probably seeing data based on these indexes……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

This might seem like a simple question. But it is not. The Moodys/REAL Commercial Property Price Index (CPPI), produced at MIT, says they are still falling. Green Street’s Commerical Property Price Index says they are rising.
Which one is correct matters. If Green Street is right, and prices are only 12.6 percent off peak, then commercial properties by-and-large have equity (loan-to-value ratios rarely exceeded 80 percent on commericial properties). If MIT is right, we are still in deep trouble……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

A recent increase in sales of commercial property loan securities in the US has led to some experts feeling cautiously optimistic. It is thought that the increase could have far reaching benefits, including strengthening bank balance-sheets, and adding to their ability to finance new property projects, including loans to revitalise derelict properties.
There are also indications that the cost of lending is stabilising as lenders grow in confidence, which is a must for recovery……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

According to the Canada Mortgage and Housing Corporation, Calgary’s real estate market is bouncing back after prices plummeted during the recession and many were forced to sell to recoup their losses.
MLS sales are expected to increase by five percent in 2011, after a 16 percent drop last year. The CMHC says as the economy improves the gap between what buyers are willing to pay and what sellers are demanding is narrowing……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

The European commercial real-estate market has a serious funding problem. Could the insurance industry be the one to solve it?
Insurers including Germany’s Allianz and U.K. insurer Legal & General are kick-starting lending programs, entering a market the industry effectively quit in the 1980s. With €24 billion ($34 billion) already committed to real-estate lending and potentially more to come, insurers could help ease the strain on banks……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

European commercial property investment activity hit €28.5 billion in the first quarter of 2011, 45% up on the opening period of last year, the latest figures from Cushman & Wakefield show.
Activity was down 30.5% on a quarter over quarter basis but this was no great surprise given that the closing three months of 2010 was the strongest quarter since the first quarter of 2008 as investors felt under real pressure to close deals before the year end, analysts said……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

Investor demand for prime retail assets in Central Europe is at its strongest since the market collapsed in 2008, according to Cushman & Wakefield.
The property adviser says in a new report that investors are seeking increased exposure to select Central European economies - notably Poland and the Czech Republic - that look set to out perform many Western European markets in terms of GDP growth over the next 3 years……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

House prices are set to be 16% higher by the end of 2015 following a four-year recovery in the market that will start late this year, an economics group has predicted.
Property values will continue to fall for much of 2011, ending the year around 1.4% lower than they started it, according to the Centre for Economics and Business Research (CEBR). But the market will begin to stabilise towards the end of the year, when the UK’s property shortage will once again underpin prices……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

A four-year recovery in house prices – driving them up by 4 per cent a year – is predicted to start by the end of the year. The UK property market has hit rock bottom and will begin to turn around ahead of Christmas, it is claimed.
But the recovery will be slow rather than a return to boom and bust, according to the Centre for Economics and Business Research. A separate study published by the Institute for Public Policy Research calls for measures to prevent house price bubbles……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

Half of people think Britain will become a nation of renters within a generation as young people give up on the dream of home ownership, a study suggested.
About 77 per cent of people who have not yet got on to the property ladder said they still aspired to buying their own home, but 64 per cent said they thought they had no prospect of ever doing so, according to high street bank Halifax……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

Two-thirds of potential first-time buyers have no realistic prospect of owning their own home in the next five years and lack the long-term saving mentality they need to get onto the housing ladder, according to a report on home ownership by one of the UK’s biggest mortgage lenders.
Owning a home has been a priority for most Britons since the 1950s when living standards began to rise, but the Halifax says that the high cost of property, strict lending rules and unwillingness of non-homeowners to save a deposit have fundamentally changed the attitudes of younger people towards home ownership……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

Luxury-home prices in central London rose at the fastest pace in a year in May as the pound’s weakness encouraged overseas buyers to compete for a declining number of properties for sale, Knight Frank LLP said.
Values of houses and apartments costing an average of 3.7 million pounds ($6 million) increased 1.4 percent from the previous month, the London-based property broker said in a statement today. That’s the seventh straight increase and compares with a 1 percent gain in April……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

Englishmen may see themselves as king of their own castles, but the fact that Europe largely did away with its monarchies many years ago does not necessarily explain why those on the Continent are happier to rent, even if the situation is starting to change.
Germany has the greatest proportion of home-renters in Europe, and Germans still prefer to rent accommodation rather than own it. Only 39 per cent of the population own the homes that they live in compared with about 60 per cent in Britain……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

Switzerland’s residential real estate market is in a boom phase and not a bubble, the UBS Swiss Real Estate Bubble Index showed on Monday.
In the first quarter of 2011, the index, launched by UBS Wealth Management Research Switzerland, was at 0.63. The market is considered risky when the index goes above a value of 1. The index reached its peak in the early 1990s at a level of 2.5 at the height of the last Swiss real estate bubble, UBS said……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

Shares in Egyptian property companies may have been down but they are not out. The sector has borne the brunt of a string of corruption probes, placing many property companies under fire in the aftermath of the revolution that ousted Hosni Mubarak, the president. At the heart of legal wrangles are conflicting laws governing the sale of state land.
But a series of positive catalysts have prompted investors to return to the market and prop up share prices in what have been seen as underperforming stocks for much of this year……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

The Council of Ministers on Monday approved the addition of a new article to the law regulating real estate ownership of foreigners and their investment in the sector. According to the article, the law’s executive bylaw should be approved by the Cabinet.
The Cabinet meeting, which was presided over by Custodian of the Two Holy Mosques King Abdullah, highlighted the tremendous progress achieved by Saudi Arabia during the king’s six-year rule……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

Peking University Guanghua School of Management (GSM) Real Estate Association held a summit forum on the development of China’s real estate on May 29. Experts and scholars believe that this year China’s housing price will drop by 10 percent to 15 percent.
Nie Meisheng, chairman of China Commercial Real Estate Commission (CCREC), says that last year’s housing price started to stabilize in July, while it rebounded in August. The housing prices of Beijing, Shanghai, Guangzhou and Shenzhen— the four major cities of China — rose by 20 percent……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

The Hong Kong residential property market is on the rise with housing sites fetching high prices in recent land auctions and individual residential developments registering record high transactions, Colliers International Hong Kong (CIH) has reported. But a slowdown in residential sales activity over the past quarter revealed a growing uncertainty in the market.
Ricky Poon, CIH’s executive director of residential sales said this was proven in cases where vendors were seen raising their asking prices by 3-5 per cent and in some cases, withdrawing their units from sale after the latest government land auction of the three sites in Mid-Levels, Kowloon Tong and Yuen Long……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

It seems that everyone has their own opinion about which way Singapore’s residential property market is heading. Almost all will agree that the stratospheric price rises of last year will not be repeated anytime in the near future, however the most recent figure shows that prices at least are still below pre-global financial crisis levels.
The most recent data from the Urban Redevelopment Authority (URA) showed private residential property prices rose 2.1 per cent during Q1 2011 to record levels……………………………………….Full Article: Source

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Posted on 31 May 2011 by Laxman |  Email |Print

New home sales growth remains sluggish, figures show, adding to growing evidence of a lull in the property market.
A report published yesterday found home sales edged up by 0.2 per cent last month but activity was stubbornly below its long-term average, a trend the housing industry blames on weak buyer sentiment and excessive regulation……………………………………….Full Article: Source

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