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Real Estate Briefing 28.Jun 2011

Posted on 28 June 2011 by Laxman |  Email |Print

Simon RedmanThe 11th annual edition of the European Institutional Asset Management Survey (EIAMS) points to real estate maintaining its position in investor portfolios between 2009 and 2010, however, it continues to dominate the ‘alternatives’ asset class.
Despite the growing dominance of fixed income, “the real assets story is far from over,” says Simon Redman, Invesco Real Estate’s Head of Product Management. “Real estate continues to dominate alternatives, accounting for two-thirds of total allocation. Meanwhile, private equity and hedge funds are finding it difficult to reassert themselves………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

Laurie GoodmanThe percentage of mortgage applications rejected by the nation’s largest lenders increased last year, spotlighting how banks’ cautious lending practices are hampering the nascent housing market recovery.
In all, the nation’s 10 largest mortgage lenders denied 26.8% of loan applications in 2010, an increase from 23.5% in 2009, according to an analysis by The Wall Street Journal of mortgage data filed with banking regulators………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

Subprime borrowers with a strong payment history would be able to refinance and possibly get prime FHA loans. Current paying borrowers with credit issues would be offered Fannie Mae or Freddie Mac loans under a new expanded program.
Mortgage modification programs, including HAMP, were abysmal failures. At the time I told Olick that mortgage servicers were selling loans for 3-6 cents on the dollar and they were happy to dump them:……………………………………….Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

The home next door is in foreclosure. The neighbors down the street just put their house up for sale at a ridiculous discount. And “For Sale” signs litter lawns all over town. Welcome to the toughest selling conditions in years.
The bright side of selling a home in a down market is you get to seek your own bargain if you’re going to buy after you’re done. Closing a sale, however, can be teeth-grindingly slow if you don’t do everything right — and maybe even if you do………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

The number of homes for sale has risen 14% since early spring, according to new research. Property information firm Hometrack says the increase in supply has comfortably outstripped demand, which has increased by only 7% over that period and actually fell by 0.5% last month.
The company also recorded a drop of 0.1 per cent in house prices in June, continuing a pattern of modest falls so far this year. Values are now down 3.9 per cent on a year ago and prices have dropped in 11 of the past 12 months………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

There is some much-needed good news for the property market today as estate agents report a rise in demand for housing. According to the latest survey of estate agents by Hometrack, demand climbed 10.6 per cent in June.
However, tempering any euphoria is the fact that average property prices today are 3.9 per cent lower than at the same time last year, according to the research………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

French institutional exposure to real estate trebled over the past 12 months, according to the European Institutional Asset Management Survey (EIAMS) conducted by IP Real Estate’s sister publication Investment & Pensions Europe.
While overall real estate investment remained constant at 7% of total assets compared with 2009, figures for 2010 showed a noticeable increase in investment in a number of regions, including the Benelux countries………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

The scramble for quality real estate is getting tougher despite continued macroeconomic uncertainty, German real estate company IVG noted in recent reports on the European markets.
In the 80 countries included in IVG’s ‘European Office Real Estate Markets 2011′ report, the office rental market has recovered, and a further upward trend is likely in the years up to 2013 – “especially since virtually no new space will be completed up to the end of 2012 and the level of activity in the construction of new buildings will remain moderate subsequently because of the restrictive conditions of real estate financing”………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

Spanish retail property’s appeal to investors will linger into late 2011, with more shopping mall assets being sold into an increasingly competitive market, potentially doubling deal volumes to about 1 billion euros ($1.43 billion), research showed.
Property consultancy Savills said Dutch, British and German funds would continue to dominate transactions, having accounted for about 90 percent of the 696 million euros deal volume in 2010………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

The Portuguese property market saw a drop in house prices during May, according to new figures.
Statistics from the Portuguese Housing Market Survey by the Royal Institution of Chartered Surveyors (RICS) and Confidencial Imobiliario show that prices started to fall at a faster rate in May compared with previous months, mainly thanks to a drop in demand………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

Real Estate Professionals Society (REPS) has been launched on the market last week, on June 15, 2011, at Crowne Plaza Hotel, with an informal cocktail.
A limited number of developers and investors joined the real estate consultants in their efforts to better represent the industry’s interests and promote higher professional standards on the Romanian market………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

Kenya Engineers Board (KEB) has warned that the real estate sector will not achieve Vision 2030 aspirations owing to its manifest risky growth and dearth of professionals. The board says it is concerned by collapsing, sinking and cracking buildings as well as those that continue to be built illegally on public utility land.
It says the current multiplying factor of the sector will be reversed by loss in the tourism sector as well as foreign developers shunning the country if it continues being associated with inherent risks………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

Owning a property is a viable investment and has proven over time to be a major factor in the building of personal wealth. Well researched property investments have allowed many savvy buyers to live out the lifestyle of their dreams.
The biggest leverage that any successful investor possesses is knowledge. Knowing where and how to invest comes with studying the market and the current conditions………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

Dubai Real Estate Corporation (DREC) will look at acquiring assets for development and management within the emirate, as the property prices in certain areas are about to pick up, a top official said.
“We believe in the future, see good opportunities in the near to long-term and might look into assets for acquisition and development, if it makes economic sense,” Hesham Abdullah Al Qasim, Vice-President and Chief Executive Officer of DREC, told Gulf News in an exclusive interview Monday………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

The housing market in Kuwait carried out its marked activity and upward trend in the first quarter of 2011, acquiring 55 percent of total real estate transactions, according to a recent economic report released here Monday.
The investment property sector, involving housing buildings and apartments, came second in view of activity, making up 39 percent of total property deals recorded in the reporting period, showed the report, released Global Investment House (Global)………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

A recent decline in Chinese real-estate prices is starting to shake confidence in the country’s economic vitality and open a debate about whether the country’s economy is over-leveraged. That’s what made the real-estate bubble’s aftermath so painful for the U.S. and Japan.
Just two months ago, China expert Nicholas Lardy dismissed concerns about what he labeled a “so-called property bubble” during a conference at the Peterson Institute for International Economics in Washington………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

Property has had a renewed focus in Hong Kong in the past week as a bubble in prices has officially been recognized as a problem. Hong Kong’s Chief Executive Donald Tsang went as far as to describe property prices as “quite frightening,” raising expectations of a new round of measures to stem price rises.
There have been numerous warnings on the property market as prices surge past the bubble high of 1997, including one from the Hong Kong Monetary Authority (HKMA) that unsustainable lending practices posed a risk to Hong Kong’s wider financial system………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

Phuket’s property market is recovering from the Global Financial Crisis but has yet to bounce back to the boom levels of 2007, a recent report from Colliers Thailand has found.
The report made not of the distinction between inland areas of Phuket, which contain the vast majority of units, and the coastal areas, which contain less properties but have higher capital values. 2010 was one of the rare years when more condominium units were supplied than landed properties, which usually dominate the market………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

The Australian property market is not set to crash any time soon, a new report from BIS Shrapnel has found, with prices expected to remain steady in 2011 and grow moderately over the next two years.
The report pins Sydney, Perth and Brisbane as the cities likely to record the fastest residential property growth in the next three years. Melbourne is only forecast to record a 6% increase to 2014………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

According to BIS Shrapnel’s ‘Residential Property Prospects, 2011 to 2014′ report, the Australian residential market was hit by a perfect storm in 2010/11. This included a fall in first home buyer numbers, a corresponding fall in demand from the ‘upgrader’ category, increases in interest rates and stalling economic conditions.
Despite the perfect storm, which saw a decline in median house prices in many capital cities in the year to March 2011, BIS Shrapnel doesn’t expect a property price crash………………………………………..Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

If you’ve been considering buying a house but you’re still unsure, consider some of the personal and economic conditions that favor home purchases. If you find that a number of these signs ring true for you, it might be time to contact a real estate agent and start shopping.
First and foremost, if you’re not ready to commit to owning a home, you should not buy a house. Home ownership comes with a plethora of responsibilities, including home maintenance, property taxes and the process of selling the property when it comes time to move……………………………………….Full Article: Source

Posted on 28 June 2011 by Laxman |  Email |Print

It’s an extreme buyer’s market — and home values could fall another 5% by year-end. Here’s how to meet the challenge faster, cheaper and better. Underprice the place by 10%.
Doing so will be painful, no question. But with cheap foreclosures still flooding real estate markets around the country, listing your home for less than comparable ones in your neighborhood is the best way of unloading it as quickly as possible………………………………………..Full Article: Source

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