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Real Estate Briefing 22.Aug 2011

Posted on 22 August 2011 by Laxman |  Email |Print

Sam ChandanThe quality of new loans on U.S. apartment buildings dropped in the second quarter, putting multifamily properties at greater risk of price declines should rent growth stall, according to a study by Chandan Economics.
The ratio of rental income to loan balances on high-rise apartments fell to 8.7 percent from 9.7 percent a year earlier, Chandan Economics said. So-called debt yield for securitized loans on all types of commercial properties, including apartments, rarely fell to less than 12 percent during the four decades through early 2006, before plunging as the market peaked, according to Toronto-based debt-rating company DBRS……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

Mortgage rates in the U.S. continued their decline over the past week, hitting new lows amid concerns about the economic outlook in the U.S. and fallout from Europe’s sovereign-debt problems, according to Freddie Mac’s weekly survey of mortgage rates.
Refinancings averaged about 70% of all mortgage activity in the first half of the year, as homeowners took advantage of low rates, according to Freddie Mac……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

Over the very, very long-term property prices don’t beat inflation – and yet the return homeowners get still wallops rising prices. Here’s how. All things being equal, there is no reason for house prices to rise faster than inflation over the very long run.
Looking at data collated by respected Yale economist Robert Schiller for his book, Irrational Exuberance, plus more data since then, we can see that US house prices from 1890 to 2011 rose on average just 0.14% more per year than inflation……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

The California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the US, has allocated as much as $200m (€140m) for real estate emerging managers.
The new programme will have a regional focus, aiming to locate all emerging managers and real estate investments in California……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

1. £140m - Park Place, Henley-on-Thames, Oxfordshire. Bought in August 2011 by an unnamed Russian billionaire from Michael Spink, the UK-based property developer.
2. £136.4m - Penthouse, One Hyde Park, Knightsbridge, London. Sale announced in April 2011. Bought by Rinat Akhmetov, 44, Ukraine’s richest man, from Nick and Christian Candy, property developers……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

UK real estate investment trusts (Reits) are at risk of a sharp downward re-rating relative to the wider equity market, as the cost of property versus shares hits its highest level since the bubble of 2006.
Following the sharp downward equity correction of the first week of August, the FTSE is trading at a forward price to earnings (P/E) multiple of 11.1x, while the chase for yield has pushed Reits to a 10% premium to assets. ………………………………………Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

Scottish house prices are almost the same as they were four-and-a-half years ago as consumer confidence remains low, new research has found. The cost of the average domestic property fell by 3.7% in the three months to the end of July to £152,565.
However prices have increased by 0.4% in the past year, according to the Scottish House Price Monitor from Lloyds TSB Scotland……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

In a new report in the ‘Research LAB’ publication series, IVG Immobilien AG’s research analysts deal with the issue of pending refurbishment and replacement of corporate and public-sector properties. This view is a clear departure from the sector’s traditional point of view regarding the moderate amount of new building projects and triple-A properties.
“The potential for most real estate companies in the coming years lies in their expertise in asset management and their ability to reposition their portfolios,” outlines Thomas Beyerle, IVG’s Head Analyst, on the necessity of mapping out fundamental principles……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

Despite the Netherlands’ improving economy, the average price of owner-occupied dwellings fell 1.9% (-4.1% in real terms) during the year to Q2 2011, and 0.8% (-0.9% in real terms) during the latest quarter, according to Statistics Netherlands.
More optimistic figures have been produced by the Dutch Association of Real Estate Agents (NVM). Although they show median house prices dropping 0.6% during the year to Q2 2011 (-2.82% when adjusted for inflation), NVM believes house prices rose in the second quarter by 3.1% (2.93% in real terms)……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

A quiet property market is anticipated in Sharjah, Ajman and Ras Al Khaima for the second half of the year on new supply that will also increase vacancy levels in residential sector and further decline in rental rates, according to a latest report by CB Richard Ellis.
Despite widespread market negativity many investors are breathing a collective sigh of relief with a number of developments now handed over……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

Residential rental prices in many parts of Muscat have fallen by up to 15 per cent this year as cheaper properties in areas near the airport gain in popularity, according to real estate experts.
As many businesses continue to move out of Ruwi, employees are moving to stay near their workplaces - with many eyeing Bausher, Ghubra and Ghala for cheaper properties……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

The Competition Commission of India (CCI) has fined DLF Rs 630 crore for abusing its dominant position in the market and imposing unfair conditions on home-buyers. It now wants to probe other realtors for unfair trade practices.
While it could be debated whether this is a matter for the competition authority, there can be no dispute that the issues raised by the regulator are entirely valid. DLF has been charged with brutal disregard of consumer rights and firming up sale agreements that are hopelessly one-sided……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

Malaysians should invest in India’s property sector as prices are expected to increase five or six folds in the next five years, said Deputy Minister in the Prime Minister’s Department Datuk S.K. Devamany.
“The prices of properties and land in India are reasonable and can’t be manipulated. Malaysians should grab this opportunity,” he said when launching the India Property Investment Fair here on Saturday. The two-day event showcases products of various property firms in India……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

Direct real estate transaction volumes rose 225 per cent year-on-year (y-o-y) in the second quarter of this year to US$2.2 billion (S$2.7 billion).
According to Jones Lang LaSalle’s (JLL) Asia Pacific Capital Markets Bulletin, this was boosted by double-digit growth in the financial services sector which continued to drive gross prime Raffles office rents up 1.5 per cent over the previous quarter, even with significant supply coming on-stream……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

New condominium supply in Greater Bangkok continued declining with an estimated decrease of around 10% this year, while new low-rise units are increasing, expected to equal the peak seen in 2005.
New land allotment permits for low-rise units excluding vacant land plots in Greater Bangkok totalled 27,400 units in the first half of the year, up from around 19,800 in the same period last year……………………………………….Full Article: Source

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Posted on 22 August 2011 by Laxman |  Email |Print

Inspired perhaps by the world’s most famous real estate game, Monopoly, one Australian bank this month launched an online property game.
”Imagine a place where you can try out property investment before you hit the market,” the voice-over for the Commonwealth Bank’s Investorville game tells players and potential mortgagees. ”A place where you can get a sense of what it’s like to invest without the risk.”………………………………………Full Article: Source

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