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Real Estate Briefing 19.Aug 2011

Posted on 19 August 2011 by Laxman |  Email |Print

Jeremy HelsbyBritish property broker Savills said global economic volatility would curb activity in Europe and Asia though markets for the best properties remained resilient. Prime London residential property was a safe haven for investors amid the current economic turmoil, which had created a two-tier British market, Savills said on Thursday.

Values for the best property in Hong Kong and Singapore were also resilient, the company said……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

Bob O’BrienThe stock market is tumbling again, but will trouble in the wider economy derail the recovery in commercial real estate?

There are reasons to worry. As The Journal wrote this week, commercial real estate could be losing its appeal as a safe-haven investment given the market turmoil and constrained bank financing. The stock market performance of real estate investment trusts, while still healthy, is down from a two-year hot streak……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

Commercial real estate markets are being fuelled by the availability of capital, low prices, loan restructurings and alternative financing methods, according to a new report “Commercial Real Estate Outlook: Top Five Issues in 2011″, by the accounting firm Deloitte.
“2011 has been a very positive year in commercial real estate markets so far. Real estate has suffered less than other areas of the economy from the overall uncertainty we have been seeing this year,” said Deloitte’s real estate sector leader Bob O’Brien……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

Sales of U.S. previously owned homes unexpectedly dropped in July, reflecting an increase in contract cancellations due to strict lending rules and low appraisals.

Purchases decreased 3.5 percent to a 4.67 million annual rate, the weakest since November, figures from the National Association of Realtors showed today in Washington. The median forecast of economists surveyed by Bloomberg News called for an increase in sales. The median price dropped 4.4 percent from a year earlier, and 16 percent of real estate agents polled said they had at least one pending contract canceled last month……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

Thursday’s report that sales of previously owned homes fell by 3.5% in July is bad news for the housing market because pending sales—signed contracts for home purchases—had increased in May and June.

The report is also troubling because mortgage rates are falling to their lowest levels in more than 50 years. So while housing is more affordable than at any time in the last 15 years, demand doesn’t appear to be benefiting……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

A moribund real-estate market should have the advantage of reducing peoples’ housing costs. Unfortunately, for the growing ranks of U.S. families who rent their homes, the opposite is happening.

Shelter costs in the U.S. — a category that includes houses, apartments, hotels and college dorms — rose at an annualized rate of 2.7 percent in the three months through July, the Labor Department reported Thursday. That’s the fastest rate of growth since January 2008, just after the recession began………………………………………Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

The price of an average house will rise 14 per cent over the next four years, reaching the highest ever recorded in Britain.

Respected analysts the Centre for Economics and Business Research predict the typical home will be worth more than £200,000 by 2015, up from its current £176,000……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

The long drawn out decline in UK commercial property capital growth, in July dipped to its lowest rate since the recovery began, according to the IPD UK Monthly Index. Despite the UK market now seeing two full years of positive growth, declines in retail values leave offices as the only sector experiencing capital appreciation.
“With a 0.1% improvement in capital values this month, the balance between the performance of prime assets and the more challenged secondary markets remains finely poised,” said Phil Tily, UK and Ireland managing director……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

A mini revival in the mortgage market fell away during July amid a “subdued” property market, the UK’s major lenders said. Gross lending was an estimated £12.6 billion in the month, 1% lower than in June and 6% down on a year ago, the Council of Mortgage Lenders (CML) said.

Lending in June picked up to its highest level for nearly a year as landlord activity in the buy-to-let market picked up. But July saw lending fall back and the underlying picture of the housing market now “looks stable at best”, the CML said……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

Commercial real estate investors from Germany remain significant players in the European property market, but are increasingly focusing on their home market, according to the latest data from CB Richard Ellis (CBRE).

Germans were the second largest players in the European property investment market in the first half of 2011, accounting for 16% of total real estate investment activity in Europe……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

Construction contracts awarded in Saudi Arabia during the first half of 2011 jumped 156 per cent to 84.2 billion riyals (Dh82.43 billion), up from 33 billion riyals in the corresponding period last year, according to a report.

Saudi Arabia’s Construction Contracts Index (CCI) jumped to 205.3 points at the end of the first half of 2011, which is in stark contrast to the 80.36 points recorded in the corresponding period of 2010……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

House prices in Dubai’s battered real estate market will slide a further 15 percent by the end of 2011 as fresh supply floods an already glutted market, analysts said in an Arabian Business poll.

The Gulf’s worst-performing real estate market over the last three years has seen rents and prices more than halve from their 2008-peak, but residential costs have further to go, analysts said……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

While stock markets the world over continue their bearish ways, real estate is becoming an increasingly attractive form of investment. In Asia, the market has seen major growth recently, and industry experts anticipate the expansion to continue into the future, according to Property Wire.

Currently, the biggest markets in the Asia-Pacific region are in China and Australia, but Japan is making a comeback following its tsunami disaster earlier this year……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

If you hold any benami property and the Central Government declares it as such, not only will the Government confiscate it without paying any compensation, it will also impose a fine of up to 25 per cent of the market value of the property on you.

It could even imprison you for between six and 24 months……………………………………….Full Article: Source

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Posted on 19 August 2011 by Laxman |  Email |Print

China’s annual housing inflation quickened in July for the second straight month this year, official data showed on Thursday, keeping up pressure on Beijing to rein in the red-hot property sector.
Many economists have warned that a bursting of a property bubble is the biggest risk facing the world’s second-largest economy in the medium to long term……………………………………….Full Article: Source

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