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Real Estate Briefing 01.Aug 2011

Posted on 01 August 2011 by Laxman |  Email |Print

The U.S. homeownership rate fell to the lowest level since 1998 in the second quarter as stricter lending standards blocked purchases and foreclosures forced people out of their residences.
The ownership rate through June was 65.9 percent, the lowest since the same rate 13 years ago, the U.S. Census Bureau said in a report today. The vacancy rate, the share of properties empty and for sale, was 2.5 percent, compared with 2.6 percent in the first quarter……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

More than 600,000 minority households became homeowners in California during the past decade. Meanwhile some 160,000 Anglos households lost or sold their homes.
Hundreds of thousands of white Californians, most of them under age 45, gave up their homes in the past decade, an Orange County Register analysis of census data shows. While homeownership declined among non-Hispanic whites, it rose sharply among Latinos and Asians, the Register found……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

Outside of prime central London and one or two isolated hot spots, the UK property market is struggling as perhaps never before.
New Land Registry figures show that the number of completed house sales in England and Wales in April fell by 7 per cent to 48,704, from 52,272 in April 2010. According to property website Rightmove, 70 per cent of properties brought to market in the first six months of 2011 have yet to be snapped up. The number of new sellers is also down by 12 per cent on July 2010……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

UK real estate investors stayed cautiously positive in the second quarter of 2011 as prime property continued to capture interest, according to the latest Jones Lang LaSalle UK Investor Confidence survey.
This is despite second quarter investment volumes falling 24%, following a stellar Q1 2011 performance, boosted by the £1.6 bn Trafford Centre transaction in Manchester……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

The writing is on the wall, or maybe on the streets as you walk through London and maybe two or three other housing hot spots. The UK housing market is struggling and the near future looks like a lot of the same.
Perhaps one of the most telling figures is the number of properties still on the market provided by the website Rightmove. Almost three fourths of properties placed on the market for sale during the first half of this year have yet to move. This has led to the number of new sellers dropping by more than 10%……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

Central London luxury-home prices jumped the most in six months in July as buyers from mainland Europe sought a haven from economic instability, driving values to record highs, Knight Frank LLP said.
Values of houses and apartments costing an average of 3.7 million pounds ($6.1 million) rose 9.6 percent in the 12 months through July, according to an index compiled by the London-based real-estate broker. That’s the most since January, when there was a 10.3 percent gain……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

Retail property investment in Germany totalled nearly EUR 6 bn in the first six months of 2011, representing around 53% of commercial property transactions, according to a new research report by Colliers International.
‘The increase over the comparable figure for last year is over 62%, considerably more than that experienced by the overall investment market,’ said Andreas Trumpp, head of Research at Colliers International in Germany……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

With a shortage of student halls places and the suspension of national service in Germany this summer, which is expected to boost student numbers, international real estate advisor Savills believes the student apartment market is ripe for investment for both risk-averse and opportunistic investors.
According to the firm in the last 10 years the number of students in Germany has increased by some 18% to more than 2.1 million with only 181,000 places available in publicly funded halls of residence……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

Athens real estate brokerage and advisory firm Atlas Real Estate Advisors recently expanded by acquiring the commercial and residential property management division of Parker and Associates. Atlas is calling its property management services Rent Athens.
“We have worked a deal where we merged Atlas with Parker’s property management company,” said Chris Blackmon, who owns the 4-year-old Atlas with Matt Thomas. “It’s a good fit and gives us an economy of scale.”………………………………………Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

The state’s ownership of 93% of the land is coming under increasing scrutiny as the population increases and real estate prices keep going up.
As much as 93 percent of the land in Israel is either owned or managed by the state. This structure, which historically was meant to protect and keep Israel a “Jewish state”, is coming under increasing scrutiny as Israel’s population increases and real estate prices keep going up……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

Middle Eastern investors expected to become big players in large-scale developments in the UK, France, Germany and the US.
Real estate financing should be considered as the signature crisis of the last 50 years, with a strong possibility of a recurrence in the not too distant future, he warns, pointing to how China is trying to choke off a property boom triggered by high growth and loose credit control……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

Although Saudi Arabia has remained unaffected by the impact of the Arab Spring, the regional unrest raises questions about the current and future state of basic social needs such as education, housing and employment.
Housing remains a burning issue, with a significant ripple effect across every other facet of citizens’ lives, including employment and education, according to Jeddah-based Capitas Group International……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

Mid-size property developers are again acquiring distressed assets, mostly unfinished projects or undeveloped land, with the uncertainty in the sector making for pickings at prices much lower than their original valuations.
With home sales dropping in the past nine months and a slowdown becoming evident in the property market, small developers who aren’t able to complete projects are seeking a bailout. They have few other options as most lenders including banks have turned wary of the sector……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

Despite slump in property, South Mumbai sees spurt in big deals. South Mumbai, which houses this city’s rich and famous, is seeing a sudden spurt in high value property deals, at a time when home sales here are down — June saw one of the sharpest falls in registration.
In the past couple of weeks, a handful of such deals worth Rs 1,200 crore have been inked or are set to be signed by the who’s who of the corporate world such as the Mahindras, Jindals, Piramals and Runwals………………………………………Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

A 77-storey skyscraper is set to become the latest, and tallest, addition to Bangkok’s ever-changing skyline, already transformed by a construction boom that has raised fears of a property bubble.
Variously described on Internet forums as looking “like it has been eaten by giant termites” and reflecting “the chaos of Bangkok”, the MahaNakorn — Great Metropolis — will tower over the Thai capital when it is finished in 2014……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

Melbourne median house prices were stable over the June quarter, according to the latest Australian Property Monitors report. National median house prices, however, fell over the quarter by 0.6 per cent.
Sydney was the only capital city to record growth in median house prices, rising by just 0.1 per cent……………………………………….Full Article: Source

Posted on 01 August 2011 by Laxman |  Email |Print

The New Zealand property market picked up again during July, but new listings are in short supply, prompting a warning that disillusioned buyers could end up leaving the market due to a lack of choice.
A monthly report prepared by industry website Realestate.co.nz shows new listings fell 15 per cent on a year ago, and fell by 2 per cent to 8966 from June 2011……………………………………….Full Article: Source

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