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Real Estate Briefing 30.Jun 2011

Posted on 30 June 2011 by Laxman |  Email |Print

Andrew NessOffice markets in the world’s top three financial centres - London, New York and Hong Kong - have recovered from the impact of the global financial crisis at varying speeds, according to CB Richard Ellis.
Its new research report highlighted how Hong Kong’s economy rebounded quickly from the global financial crisis - mirroring the resilience of mainland China, with strong growth in the financial sector since 2009 - outpacing the two Western cities……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

Patrick NewportThe number of contracts to buy previously owned U.S. homes rose almost three times as much as forecast as falling prices made properties more affordable.
The surprising 8.2 percent increase in the index of pending home resales from April followed a revised 11 percent drop the prior month, the National Association of Realtors said today in Washington. Economists forecast a 3 percent gain, according to the median estimate in a Bloomberg News survey……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

The housing market is hurting nationally, but it appears to be marching toward recovery in a handful of mostly rural states, economic forecasters say.
The states — including North Dakota, South Dakota, Iowa and Alaska — have economies more dependent on the energy, industrial or agricultural sectors, stronger parts of the U.S. economy. Their home prices, in general, didn’t rise as much as in other states in the boom years, so they’ve fared better in the wake of the crash. Their unemployment rates tend to best the national average……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

The S&P/Case-Shiller Home Price Index released its monthly report this week, with less than surprising results. April’s home prices for the 20 U.S. cities comprising the index dropped 4% year-over-year despite a slight 0.7% uptick from March to April.
The uptick can be chalked up to the fact that April marks the beginning of the high season for home buying. It’s the first national price increase in eight months……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

Cash is king in high-end real estate this year, serving to stabilize the market as tight credit conditions and depreciated home values continue to plague the embattled real estate sector.
At least 30 percent of all purchases were financed with cash between mid-April and mid-May, according to the May 2011 Realtors Confidence Index by the National Realtors Association, and the numbers are even more robust for the luxury property market……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

The luxury housing market in the United States continues to stabilize despite ongoing struggles in the broader national market, according to industry professionals. Bob Satawake, a Chicago based real estate agent told Market News International that “at this point, certain segments of the market have stabilized.”
“The luxury market is more stable,” Satawake added, saying foot traffic has increased this year and that buyers are more comfortable in certain market segments……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

Latest reports on home prices are somewhat encouraging. The Case-Shiller Home Price Index (HPI) of April edged down 0.1% on a seasonally adjusted basis and advanced 0.7% on a seasonally unadjusted basis from March. The seasonally adjusted drop of the Case-Shiller HPI is smallest since July 2010.
The Case-Shiller HPI rose in nine out of the twenty metro areas in April. Other home price measures also suggest that prices are stabilizing. The FHFA HPI rose 0.8% in April, the first since May 2010, while the overall Core Logic HPI held nearly steady and the HPI excluding distressed properties moved up 1.3%, the fourth monthly gain……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

Data reported over the last two weeks offered yet more positive signals for real estate investors. Both the FHFA and Standard & Poor’s real estate pricing metrics have now illustrated positive changes in average home prices in April.
Last week, the FHFA House Price Index produced its first monthly increase since May 2010……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

Canada’s housing market is in a bubble that’s set to burst and prices could plunge by as much as 25 per cent, a major independent research firm warns.
“Housing valuations have lost all touch with fundamentals and household debt is at a record high,” economists at the economic research consultancy Capital Economics say in their most recent Canada Economic Outlook, issued Wednesday……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

Occupiers of industrial space across the EMEA region remain primarily focused on space upgrades and network optimization strategies. This is sustaining the demand for modern industrial space but also increasing the churn of older second hand stock according to Jones Lang LaSalle’s Q2 2011 EMEA Corporate Occupier Conditions Industrial research report.
Corporate confidence in Europe remains above its long-term average and coupled with strong corporate cash balances, is now beginning to translate into new flows of corporate investment……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

British commercial regeneration property posted investment returns of 13.2 percent in 2010, up from a 0.6 percent fall in 2009, while continuing to lag the broader UK property investment market for the sixth year running, a study showed on Wednesday.
The Investment Property Databank (IPD) Regeneration Index showed the year-on-year improvement was driven by an increase in investor demand for retail warehouses in regeneration areas……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

Overseas investment into London real estate is running at £3.7 billion a year and at this rate, foreign buyers will own all residential property in Greater London by the middle of the next century, according to Savills.
They are responsible for 34% of all London property transactions although most investment is channelled into high-value residential properties areas such as Mayfair, Kensington, Notting Hill and Chelsea……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

People keen to earn extra money by investing in property have been told that a recovery in the Spanish market could begin in the next 12 months. BuyAssociation editor Paul Collins explained that investors should be cautious about purchasing assets just yet, as further falls are expected.
He said: “There is still significant inertia in the property market in Spain, with developers, agents and private sellers alike struggling to move properties.” However, Mr Collins cited research by JP Morgan Chase & Co estimating that the industry is set to “bottom out” over the next 12 months and begin to recover……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

Higher property returns in emerging markets and the cyclical recovery of the property markets in stronger developed economies will be driving property investment in the coming year according to Sabina Kalyan of CBRE Investments UK
“In the previous cycle we saw a lot of developed market institutional investors look to diversify geographically, typically with indirect investments in similar economies to their domestic market,” says Kalyan. For instance, UK pension funds would put a small allocation into Europe……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

The recent decision by the UAE Cabinet to lengthen property investors’ visit visas from six months to three years has come as a welcome announcement by property analysts, investors and owners.
According to a recent report by Citigroup, this move will boost demand in the UAE’s residential real estate sector, particularly in Dubai……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

Rising mortgage rates and a widely anticipated price correction has seen demand curl up in India’s once hot property market, burning realty stocks and blocking a $4 billion pipeline of initial public offerings.
About a dozen realty firms have been seeking to raise funds through IPOs to repay debt and finance land purchases……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

In late May of this year, more than 400 people lined up to purchase apartments at a site in New Westminster City, a suburb of Vancouver. Within two and half hours of the start of the sale, all 153 units had been sold.
The otherwise unexceptional set of properties stood out on the sole basis that they attracted unprecedented excitement from Chinese investors……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

Beijing may believe it can maintain China’s housing boom, but a growing number of critics say otherwise.
Standard & Poor’s (S&P) downgraded China’s property development sector from ‘stable’ to ‘negative’ this month. The agency warned that future downgrades could follow if government measures to release some air from the groaning, debt-fuelled, over-priced new homes business continued to effect volume……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

The recent slew of credit tightening measures and higher downpayment requirements for home buyers in China have begun to slow the country’s red-hot property market and that could lead to more small- and mid-cap Chinese property developers being taken private, presenting an opportunity for investors, according to Daiwa Capital Markets.
“We believe China’s current credit-tightening environment will increase the industry’s capital intensity and competition. As such, the possibilities of M&A activity will also increase,” Danny Bao, Daiwa’s Hong Kong and China property sector analyst wrote in a note to clients……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

Come August, real estate advertisements proclaiming “advance loans available”, “real estate specialist” and “king of XX (name of estate)”, could become a thing of the past, as the Council for Estate Agencies (CEA) issued two new practice guidelines, in its continued efforts to raise the professionalism of the industry.
Under one of the new guidelines, such misleading headlines, will not be allowed in advertisements and publicity collaterals and flouting it could result in disciplinary action……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

The local real property sector is expected to maintain its growth trajectory in the coming years, driven by huge demand for traditional office and business process outsourcing space as well as retail establishments.
Rick Santos, chairman and chief executive of real estate advisory firm CB Richard Ellis Philippines, said in a briefing Wednesday that the growth that the Philippines was seeing could not be considered a bubble as there was a lot of real demand and the sector’s fundamentals were very strong……………………………………….Full Article: Source

Posted on 30 June 2011 by Laxman |  Email |Print

Australian commercial property sales in the second quarter soared by more than four times the value of transactions in the previous three months, when natural disasters dampened activity, real estate services firm CB Richard Ellis Group Inc. (CBG) said.
Commercial property investments jumped to A$2.7 billion ($2.85 billion) in the second quarter, compared with A$638 million in the three months ended March 31, CBRE said………………………………………Full Article: Source

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