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Real Estate Briefing 24.Aug 2011

Posted on 24 August 2011 by Laxman |  Email |Print

The Green Street Advisors Commercial Property Price Index remained unchanged in July for a second consecutive month, following nearly two years of uninterrupted gains. Since reaching its low point in May 2009, the index has risen more than 45% and now is just 10% below its all-time high established in July 2007.
Green Street’s CPPI, which tracks properties owned by 47 real-estate investment trusts with roughly $400 billion in assets, is tilted toward sales of high-end and trophy buildings. The index reflects the valuations assigned to the REIT portfolios formed by input from brokers, economists and company executives……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

Frank BlakeSales of new U.S. homes declined more than projected in July to the lowest level in five months, indicating the industry is struggling to stabilize two years into the economic recovery.
Purchases fell 0.7 percent to a 298,000 annual pace after a 300,000 rate in June that was slower than previously estimated, figures from the Commerce Department showed today in Washington. The median projection in a Bloomberg News survey of economists called for a 310,000 rate in July……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

As investors anxiously wait to see whether or not Fed Chairman Ben Bernanke has another rabbit up his sleeve, at least one pro is calling for the next round of stimulus to come from the government rather than the Federal Reserve.
“If you look at the economy, it is slowly coming back, but there is one area - a massive area - that has hit this economy for the last two years, and its housing,” says Don Hays, President and Chief Investment Strategist of Hays Advisory……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

Montreal had the biggest jump in the average price of a two-storey house in Canada during the second quarter, fuelling a deterioration in affordability in a city once known for its cheap real estate, an RBC report said Monday.
Year over year, the price of a 1,500-square-foot home rose 13.5 per cent in Montreal to $377,200 – a higher rate than in Canada’s sizzling Vancouver market where prices for the same type of house rose 9.7 per cent during the quarter, the RBC report on housing trends and affordability said……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

Latin America has emerged as an important destination for both investors and corporate occupiers as commercial real estate conditions are strong in most of the region’s major markets, according to a new CB Richard Ellis Special Report, The Outlook for Latin America’s Commercial Real Estate Markets.
The report, prepared by Lopez-Beltran and Asieh Mansour, CBRE’s Head of Americas Research, analyzes economic and real estate conditions in Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico and Panama……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

Europe’s commercial-property market, which for the past two years has been slowly recovering from the depths of the financial crisis, is starting to weaken again due to fears of a global recession.
Not long ago, investors were buying up commercial properties, especially in the U.K., France, Germany, Poland and the Nordic countries on expectations that future economic growth would prompt companies to increase hiring, lifting occupancy levels and rental income……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

UK property transactions remained at their highest level of the year in July but were still down on 12 months earlier, new figures show.
There were 79,000 homes sold during the month, the same number as in June, according to HM Revenue and Customs (HMRC). However, this was 10,000 fewer homes sold than in July 2010, it said……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

The fate of the UK property market has surely never been so closely tied to developments outside the UK. It does feel, at present, as though we’re getting immersed in a global maelstrom, which will decide our fate for many years to come.
Just look at our two main export markets, Europe and the US, which will play an important role in any growth trajectory moving forward……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

Lease structures in the commercial property sector have reached an unprecedented level of flexibility, according to the BPF/IPD Annual Lease Review, as landlords continue to adapt to find new tenants, and maintain existing tenancies.
‘With the importance of income stream paramount in the current commercial property market, indeed the latest monthly figures showed capital growth to have slowed to 0.1%, it is not surprising to see that landlords have been flexible in their leases over the last year……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

Persimmon, one of Britain’s largest housebuilders, has played down concerns that turmoil on global stock markets could lead to a new slump in the housing market by increasing its dividend 33pc and reporting a rise in sales over the summer.
The company said the UK housing market is set to remain “challenging” but also “stable” as it posted half-year results on Tuesday……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

The maximum loan size in Germany has doubled to €200 million in a single quarter, CB Richard Ellis (CBRE) has revealed in its Q2 2011 European Capital Markets report.
Competition between lenders to finance prime transactions in this core market has allowed Germany to defy the trend of tightening lending conditions spreading across Europe……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

The Budapest Property Market Index, a quarterly measure of supply and demand as well as market players’ expectations, measured 102.8 points in July, 1.6 points higher than in April, GKI chief László Akar said on Tuesday.
The index was up 19 points from its bottom reached two years earlier, but was still 5 points under its pre-crisis reading……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

Property prices in Turkey increased again in July representing growth on both a monthly and annual basis. Turkey’s Residential Property Price Index witnessed an impressive increase of 5.38% when compared with this time last year as well as 0.83% improvement on June’s values.
Turkey is rapidly emerging as one of the world’s leading property investment hotspots. Managing Director of A Place in the Sun, Andy Bridge explained this was due to unbeatable value for money, a thriving economy and a currency independent to the rest of the Euro zone……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

The South African property market or residential real estate market, not unlike that of the USA, UK, European and some Asian markets is depressed right now, but not dead according to Seeff Chairman, Samuel Seeff. “The market is moving slowly and prices are under pressure, but there is still activity,” he comments.
“Of great significance, is that our Johannesburg and Pretoria branches are starting to record positive sales growth of close to ten percent for this year versus last year.”………………………………………Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

The real estate industry, already reeling under falling profit, high interest rates and steep input costs, seems to be sticking together, fearing further action from the Competition Commission of India (CCI).
The competition watchdog had recently imposed a penalty of Rs 630 crore on real estate major DLF over “abuse of dominant position” in relation to two high-end housing projects in Gurgaon. Delayed delivery of projects and changes in the building structure were among the charges levelled against the developer……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

Institutional investors are trimming their exposure to construction stocks as they expect higher interest rates to put pressure on their bottomlines at least for the next two quarters. A quick look at the financial performance of mid-cap construction companies in June 2011 quarter reveals many are reeling under the pressure of rising interest.
Almost half the operating profits of most mid-cap companies have gone into servicing the huge debt burden on their books. This may increase, going ahead, say analysts……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

Turbulence on the stock market has dampened interest in the property market as major real-estate brokers have seen the number of prospective buyers fall by more than 10 percent in the past three weeks.
Growing uncertainty over the economy at home and abroad cast another shadow over a housing market that has also been hit by a recent luxury tax as investors have pulled out……………………………………….Full Article: Source

Posted on 24 August 2011 by Laxman |  Email |Print

One of the few bright spots in real estate amid a three-year global slump, Australia now faces falling home prices and fears of overbuilding.
A downturn in Australia’s real estate market will add to concerns of a two-speed economy in the resource-rich nation. Mining profits are surging due to heavy demand from China and other fast-growing Asian countries, but consumer businesses and manufacturing have faltered under the weight of the swollen Australian dollar, which is trading near 30-year highs to the U.S. currency……………………………………….Full Article: Source

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