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Real Estate Briefing 15.Jun 2011

Posted on 15 June 2011 by Laxman |  Email |Print

Raymond TortoThe global real estate investment market continues its path to recovery with both values and sales activity increasing in the first quarter of 2011, according to the latest research by leading global property adviser CB Richard Ellis (CBRE).
CBRE’s new Global Capital MarketView report analyzes global capital environments across Europe, Middle East and Africa (EMEA), Asia Pacific, and the Americas, including office capital value trends, development completions, debt financing availability, global investment volumes, cross-border capital flows, and yield spreads……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

Paul DalesIt’s official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the Great Depression. Prices have fallen some 33 percent since the market began its collapse, greater than the 31 percent fall that began in the late 1920s and culminated in the early 1930s, according to Case-Shiller data.

The news comes as the Federal Reserve considers whether the economy has regained enough strength to stand on its own and as unemployment remains at a still-elevated 9.1 percent, throwing into question whether the recovery is real……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

According to the National Association of Home Builders (NAHB), owning your home still remains “essential to the American Dream.” A recent survey backed by the NAHB found that Americans “see beyond the immediate housing market to the enduring value of homeownership.”
NAHB Chairman Bob Nielsen reports that 75 percent of those polled said owning a home is worth the market fluctuations. Plus, a healthy 95 percent of homeowners say they are happy with their decision to own……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

It’s always interesting to see how our very best friends that dwell in the rarified air that is the Federal Reserve, deal with the ways that their policies are affecting those of us who live in the real world.
A speech in June by Janet Yellen, the Vice Chair of the Board of Governors of the Federal Reserve System given to the Federal Reserve Bank of Cleveland Policy Summit does just that. The title of Ms. Yellen’s speech is “Housing Market Developments and Their Effects on Low- and Moderate-Income Neighbourhoods”, in other words, an examination of the housing markets where most of us live…except those of us that just might happen to be central bankers……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

Investor demand for apartment buildings is showing early signs of moving beyond the coasts and spilling into middle America.

Camden Property Trust, one of the nation’s largest public apartment operators, is in contract to buy 11 Texas properties with 3,750 units from Verde Apartment Communities for $321 million, say people familiar with the matter. The deals are expected to begin closing this week and continue closing through the end of the month……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

Last year the rental market quietly shifted from a tenants’ market to what is now decidedly a landlord’s market, said Chris Herbert, research director at Harvard’s Joint Center for Housing Studies. The supply of properties is tightening and vacancy rates are dropping, so landlords have been emboldened to raise the rent.

Nationally, rents are expected to rise 5 percent this year and another 5 percent in 2012, according to Greg Willett, vice president of research and analysis at MPF Research in Carrollton, Texas……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

GCC investors are returning to the New York real estate market after sitting on the sidelines during the global financial crisis, according to new research from property firm IP Global.

The report says appetite is returning for property investment in Manhattan, buoyed by strong yield opportunity and a low cost of funds……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

House prices in Belize are picking up, after plunging in 2008 in the aftermath of the global financial crisis.
There are no official house prices in Belize, so in fact it is difficult to say for certain how house prices have changed. These is only one source of price estimates, and that is of doubtful reliability:………………………………………Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

Deutsche Bank has just sold the first European commercial mortgage-backed security since the crisis. The 302 million pound ($490 million) deal avoids past flaws. Bondholders even forced Deutsche to agree to a more investor-friendly fee structure.

The last commercial property boom was a disaster: bankers made poor-quality loans with little regard for risk because they could be quickly repackaged as bonds and sold on to investors. Still, property markets need new sources of funding as capital-starved banks rein in lending and loans made during the boom years mature. Reviving the CMBS market is crucial……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

Commercial property values in Europe continued their ascent in the first three months of 2011, albeit at a slower pace than previously recorded. CB Richard Ellis (CBRE) figures show that there was a 0.4 per cent increase compared to the same period of 2010.

However, while prices were up year-on-year, the growth was down on the 1.2 per cent increase recorded in the final quarter of last year……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

U.K. commercial property prices rose at the slowest pace in 16 months in May as public spending cuts deterred companies from renting additional space, Investment Property Databank Ltd. said.

The average value of stores, offices and warehouses increased 2.3 percent from a year earlier, the London-based research company said today on its website. That compares with a 2.7 percent gain in April and is the smallest increase since January 2010, when there was a 1.7 percent drop. The monthly increase was 0.1 percent, the same as the prior month, IPD said……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

House prices dropped by 1.1% in April as estate agents struggled to sell just one property a week, figures showed.

The property market failed to benefit from its traditional spring bounce this year as the run of bank holiday weekends hit activity levels, while concerns about the economy and the ongoing problems in the mortgage market also affected demand……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

Capital growth remained marginal in May, at 0.1%, according to the IPD UK Monthly Index, with rental value growth edging back into positive territory.
Phil Tily, Managing Director for UK & Ireland, said: “At the sector level offices posted a strong performance, with capital appreciation rising to 0.4%, driven by a small recovery in rental values, which rose by 0.2% for the sector……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

Property prices in India are hitting resistance levels, after doubling in the past five years.Potential home buyers are staying on the sidelines, waiting for a market correction before they make their purchase.

And this is causing a sharp decline in sales, sending developers worried that their margins would be further squeezed. The country’s largest realtor, DLF, reported a 20 per cent drop in fourth quarter sales, while the second largest developer, Unitech, saw an even bigger 45 per cent decline in the same period……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

In the first quarter of 2011, home sales dropped 17% in Mumbai, 14% in Bangalore and 15% in Hyderabad.
According to consultant Jones Lang La-Salle, unsold residential units in projects that are complete or are nearing completion in 6-12 months in Mumbai and Delhi-NCR are as high as 25% and 16%, respectively. In other big cities, including Bangalore, Chennai and Kolkata, the numbers range between 12% and 19%. Sales in tier-II and tier-III cities are steady, though there is some panic due to the increase in interest rates, which have climbed to about 11% from 8.25% a year ago……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

China’s property sales accelerated in May and investment momentum remained strong, intensifying concerns that the government will maintain its real-estate tightening policy in the short term.

Commercial and residential property sales totalled 452 billion yuan (S$86 billion) in May, up 33 per cent from a year earlier, accelerating from the 13 per cent rise recorded in the January-April period, according to data from China’s statistics bureau released on Tuesday……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

China’s annual real estate investment growth sped up to 34.6 per cent in the first five months, from a rise of 34.3 per cent in the first four months, the National Bureau of Statistics said. That means property investment quickened in May, probably driven by accelerating construction of affordable housing.

Analysts said Beijing’s increasing efforts to build more cheap housing for its poor population would help hold up real estate investment throughout 2011, although some developers slowed their pace of expansion amid slack sales……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

Hong Kong’s economic outlook is likely to remain favorable in the second half, but risks of an overheating in the property market remain a concern, Hong Kong Monetary Authority said in its latest quarterly report issued Tuesday.

“While residential property prices stay elevated, the buoyant non-residential property markets continue to see brisk speculative activities,” the HKMA said……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

The Hong Kong government should put more effort in coping with the city’s housing issues and meet the needs of the general public, the head of China’s Hong Kong-Macau Affairs Office said Tuesday, warning any mishandling could turn the social issue into a political one.

“Property and housing is one of the main issues of concern in Hong Kong,” Wang Guangya, the top Chinese government official in charge of Hong Kong affairs, said on the last day of his three-day visit to the city……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

Commercial office buildings with ”green” energy ratings are consistently generating better returns than traditional offices, according to a new survey. However, new ”green” buildings performed better than refurbished older buildings.

The IPD Green Property Index shows commercial property assets with Green Star or high NABERS energy ratings continue to outperform non-rated assets. NABERS - the National Australian Built Environment Rating System - is the environmental performance-based rating system for existing buildings……………………………………….Full Article: Source

Posted on 15 June 2011 by Laxman |  Email |Print

There is a property debate raging at present – is the future for property bright or is the bubble about to burst? Obviously if you are considering investing in property, or about to buy a home, it would be good to know who’s right.

After a number of boom years we have entered a flat period in the property cycle, but what’s unusual this time around is that every state is in the slump stage of its cycle. The trouble is that the negative media surrounding this is spooking many inexperienced investors……………………………………….Full Article: Source

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