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Real Estate Briefing 18.Aug 2011

Posted on 18 August 2011 by Laxman |  Email |Print

Arthur de HaastCross-border transactions rose 50 per cent to account for half of the $103.5 billion of direct commercial real estate investment transactions completed in the second quarter of 2011, signifying a re-surging investor confidence regardless of increased market upheavals and uncertainty.
Jones Lang LaSalle, a global real estate services company, said US and Singaporean investors emerged as the most active cross-border sources of capital……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Barack ObamaPresident Barack Obama on Wednesday said he expects the housing market will slowly rebound over the next two years as the overall economy heals from the recession.
President Obama, speaking at a town-hall event in Illinois, said “it will probably take this year and next year for us to see a slow appreciation again in the housing market.” He said his administration has been pushing banks to modify loans for people who are having trouble paying their mortgages……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Warren Buffett says that the housing market remains the key to the economic recovery, and the key to getting the U.S.’s unemployment rate to fall significantly. He also says he thinks housing may turn around sooner than many think.
“Unemployment will fall significantly, in my view, when we get back up to a million housing starts,” Buffett tells Charlie Rose. “We’ve recovered on corporate profits, we’ve recovered in terms of getting the banks back in shape—banks are in good shape now—we’ve recovered in all kinds of areas……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Plans to boost the stymied housing market continue to emerge, with a New York Democratic lawmaker adding his proposal that would provide incentives for real estate investment to sell 3 million existing homes into the mix.
Rep. Gary Ackerman will introduce a bill when Congress returns from its August recess designed to spur home sales and “to decrease the glut of 3 million existing unsold, vacant, often-blighted and foreclosed properties that are currently impeding economic recovery across the country.”………………………………………Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Home prices in some of the nation’s hardest-hit metro areas have fallen far below pre-bubble levels, stirring concerns that properties in those markets are undervalued.
In a recent analysis, real-estate firm Zillow Inc. studied the correlation between home prices and annual incomes over the 15-year period that ended in 2000, before home prices began to surge……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Blackstone Group LP (BX), the world’s largest private-equity company, told investors it raised $4 billion for its latest real estate fund, four months after kicking off fundraising.
Blackstone Real Estate Partners VII told investors in a letter yesterday that it closed on the first round of the fund’s commitments, according to a person with direct knowledge of the letter who asked not to be named because the communication was private. The New York-based firm said last month it’s aiming to raise about $10 billion for the pool……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Buyers from Canada, China, Mexico, and elsewhere are snapping up cheap housing in the most troubled markets, like Florida and California. Will foreigners save US housing market?
Since the U.S. housing market went bust, plummeting home sales and record foreclosures have prompted many to question the decades-old belief that owning a home is an aspiration that all should aspire to. Last year, Time magazine published an article debunking the merits of homeownership, while federal policymakers began wondering if many might have been financially better off renting versus buying……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Even amid economic volatility, real estate in the markets surrounding the country’s seaports is leading the U.S. industrial real estate recovery, reveals the new Jones Lang LaSalle’s Port, Airport and Global Infrastructure (PAGI) report.
A key finding is that overall vacancy rates for seaports have dropped from last year by 1.4 percent to 8.5 percent–outperforming the 9.7 percent vacancy rates held by the general industrial real estate sector……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

U.S. retailers following discounter Target Corp into a still-strong Canadian market are driving up rents and perhaps prompting new retail developments that will accommodate rising demand.
Target will open its first Canadian stores in 2013 after it signed a C$1.83 billion ($1.87 billion) deal in January to buy up to 220 Zellers leases from Hudson’s Bay Co……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

While home sales across the United States remain very sluggish, the same is not happening north of the border despite some ominous predictions. Canadian home sales were up 12.3 per cent in July compared to the same month in 2010. Additionally, sale there are expected to grow slightly the rest of this year as interest rates stay low.
“We anticipate that, going forward, the housing market in Canada is going to be an oasis of stability compared to what is expected to be further volatility in financial markets,” Gregory Klump, chief economist for the Canadian Real Estate Association said……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

European property markets saw something of a renaissance in the office sector, while general activity remained sluggish, according to a recent study by Cushman & Wakefield (C&W).
The study found that investments in the European property market totalled €26.2bn in second quarter – an 11.5% decrease compared with the first quarter……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Sometimes we suffer moments of doubt. Sometimes we even think we might be too bearish on house prices. Then we look at the numbers again and think we might not be quite bearish enough. This week, I’ve been flicking through a report out from Shore Capital on the UK housebuilding sector.
Jon Bell, its author, sets out his stall with a run through of his views on prices. They fit pretty nicely with ours……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

London offices and other commercial premises attracted $6 billion (£3.6 billion) of investment in the second quarter of 2011, new figures have revealed.
This made the UK capital the second biggest city for commercial property investment after New York and ahead of Toronto, Hong Kong and Singapore, according to Jones Lang LaSalle……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Losses on securities tied to commercial-property loans are poised to climb as lenders pull back, choking off funding to some borrowers with debt coming due, according to Deutsche Bank AG.
Investors may face 9.36 percent in principal losses on commercial-mortgage bonds sold from 2005 through 2008, Deutsche Bank analysts said in a report yesterday, up from a forecast of 8.7 percent that the Frankfurt-based lender made in December……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Take-up in Warsaw’s office market totalled 320,000 m2 in the first half of 2001, 46% higher than the same period last year, according to a new report released by Savills.
Take up outside the central business district (CBD) accounted for the largest portion, and came to more than 270,000 m2……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

The Estonian commercial real estate market was affected by the global economic crisis like every other part of the economy.
However, with the economy achieving very fast growth rates, banks regaining trust in real estate developers and increased trust in Estonia internationally, the real estate market is bouncing back as well – hopefully stronger and less speculative than before the banking crisis……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Residential property in South Africa remained “overpriced”, and could decline by 10% to 20% in real terms, in the next few years, Rode & Associates CEO Erwin Rode said on Wednesday.
Given the high prices, it was not a good “option” to invest in residential property in current market conditions, he said. “Economists agree that the price of a house is a good indicator of economic wealth. In the US, it is expected that the economy will stagnate for a while……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Unitech group, Ackruti’s plans still on paper while Shapoorji’s fund gets few takers. The slowdown in the real estate sector may have seen developers going easy with projects, but even the launch of private equity funds backed by developers have failed to take off.
The fluctuating economic environment has repelled, at least, three real estate developers, who had planned to mop up nearly Rs 3,000 crore from domestic institutional and retail investors last year, from not testing the waters……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

Beijing’s property market has been one of the hottest in China, and, as such, the capital’s municipal government has implemented policy after policy to cool soaring home prices. Now, half a year later, prices are finally going down.
According to Sina.com, nearly 130 residential complexes are offering discounts in August. Most are for properties in the outskirts of Beijing, especially the Tongzhou, Daxing, Fangshan districts……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

A surge in interest from Russian buyers and expats working in Hong Kong and Singapore has seen property sales in Phuket speeding up. While buyers from more traditional markets such as the UK are still feeling the sting of the global financial crisis, these new customers are picking up the slack, according to the Bangkok Post.
Piya Sosothikul, managing director of Erawana Co (a Phuket-based developer), reported that local demand is minimal, but sales for the first two quarters of 2011 are up 25 per cent YoY……………………………………….Full Article: Source

Posted on 18 August 2011 by Laxman |  Email |Print

A lot of real estate project assignment deals where buyers are foreigners have been reported so far this year, while the number is expected to increase towards the end of the year since the assignments, which are now under negotiations would be finalized by that time.
Many real estate developers are reportedly facing big difficulties because they cannot access bank loans and find it hard to find the buyers for their products……………………………………….Full Article: Source

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