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Real Estate Briefing 31.Aug 2011

Posted on 31 August 2011 by Laxman |  Email |Print

Paul DalesResidential real estate prices in the U.S. decreased in the year ended in June at a slower pace than in the prior month, a sign the market may be stabilizing.
The S&P/Case-Shiller index of property values in 20 cities fell 4.5 percent from June 2010, after a 4.6 percent drop in the 12 months ended May that was the biggest since 2009, the group said today in New York. The median forecast of 31 economists surveyed by Bloomberg News projected a 4.6 percent decline……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

Anthony SandersHome prices made a comeback during the second quarter, but the struggling housing market isn’t out of the woods yet. Prices rose a substantial 3.6%, compared with the three months ended March 31. But home prices are still down 5.9% compared with the second quarter of 2010.
The rise in home prices came after three consecutive quarters of drops, as reported by the S&P/Case-Shiller national index — an influential gauge of residential real-estate markets……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

We’re in the middle of a real-estate depression, folks, and it’s not getting any better. Perhaps it’s good news that the financial markets have gotten used to the bad news out of the housing market, because the bad news keeps coming strong.
But if the housing-market woes are an indication of the direction of the economy, we’re in sorry shape. And as with a number of questions I’ve explored recently, it comes down to this: What, if anything, is the Obama administration going to do about it?………………………………………Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

Residential real estate prices probably dropped in the year ended June by the most in 19 months, indicating the housing market continues to hamper the U.S. recovery, economists said.
The S&P/Case-Shiller index of home values in 20 cities fell 4.6 percent from June 2010, the biggest 12-month decrease since November 2009, according to the median forecast of 31 economists surveyed by Bloomberg News. Another report may show consumer confidence sank in August to the lowest level in 10 months……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

The Obama administration is considering unveiling new plans next week to revive the ailing housing market and reduce foreclosures, including an effort to help troubled borrowers refinance their mortgages.
The administration has been working for weeks on how to implement a mortgage relief program. President Barack Obama could include a nod to the plan in a speech on job creation next week, sources familiar with the administration’s plans said……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

Five years into a housing meltdown, questions are arising about how long some publicly held home builders can survive without significant improvement in the market.
Sales of newly built homes, which peaked at 1.3 million units in 2005, were running at an annual rate of just 298,000 units in July and are on pace to post the lowest count this year since recordkeeping began in 1963……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

According to Jones Lang LaSalle’s Mid-Year 2011 National Office Occupier Outlook report, the U.S. office market continues to tighten, though demand is highly segmented by product type and geography as the flight to quality continues.
In light of economic turbulence, occupiers are placing more and more emphasis on strategies that enhance the flexibility and real estate productivity to meet rapid changes in the market……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

The latest data from the Wells Fargo Housing Opportunity Index, in conjunction with the National Association of Home Builders puts housing affordability in the US at a 20 year high. According to the data 75% of housing in the country is now affordable to families earning the national average salary $64,200.
This is great news of course, especially with interest rates at record lows, unfortunately credit is still in a stranglehold allowing only those with impeccable credit histories to even think about buying with a mortgage — not to mention worries over the economy putting a dampener on sentiment……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

Billionaire Sam Zell said he is entering the real estate markets in Colombia and India in the next two weeks as he continues to favor international investments over U.S. property deals.
Zell, chairman of Chicago-based Equity International, will invest in real estate in Colombia and will eventually move on to residential projects, he said in an interview today on Bloomberg Television. In India, he plans to open hotels……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

House prices in England and Wales ticked down on the month in August and weak consumer spending is likely to weigh on demand and prices for the rest of the year, property data firm Hometrack said on Monday.
House prices fell 0.1 percent on the month in August, leaving them 3.7 percent below the August 2010 level, Hometrack said……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

The proportion of income devoted to mortgage payments is at a 12-year low, according to research from Halifax. Across the UK , typical mortgage payments for new borrowers stood at 28 per cent in the second quarter of 2011, the lowest level since 1999, the study revealed.
This figure was also reported to be down by almost half from a peak of 48 per cent in the third quarter of 2007……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

Our shortage of housing is good for rich foreigners and buy-to-let landlords, but bad for young adults – and even their parents.
They are a national sport, an unhealthy obsession, guaranteed to lift newspaper sales and warm up the most icy dinner-party conversation: I refer, of course, to Britain’s house prices. Napoleon’s nation of shopkeepers has indeed become a nation of homeowners, every one of us determined to acquire a slice of Eden to call our own. But there’s trouble in paradise……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

The cost of London’s most expensive properties rose the most in nine months as Middle East investors helped to push up prices. Homes costing an average of £3.7 million (Dh22.1m) rose 10.5 per cent in the past 12 months, according to a report released yesterday by Knight Frank.
The boom is being fuelled by foreign buyers, who are taking advantage of the weak pound to snap up property in prime areas of London……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

Isle of Man house sales have dropped by more than 50% since 2008, provisional figures show. The figures come from an official quarterly report covering the period between 1 April 2011 to 30 June 2011.
At the same point in 2008 there had been 1,545 residential house sales on the island, whereas the provisional figure for 2011 is 646……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

Factory-made houses, popular for decades among Germans and North Americans, are becoming more prevalent in Britain as homebuyers and developers try to avoid turbulence in the real-estate market. Sellers in London lowered asking prices by the most in a year in August as demand in Britain’s most expensive city was hit by turmoil in financial markets.
Loans to buyers of pre-made homes will more than double to $5.5 billion by 2014, according to London- based researcher Datamonitor Plc……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

The latest data from the Royal Institution of Chartered Surveyors shows some improvement in activity and sentiment in the Portuguese property market, but reports that continued weak demand is still putting downward pressure on prices.
In the latest release of its Portuguese Housing Market Survey RICS reports an 11 points improvement in the National Confidence index, and a 16 points improvement in the National Activity index, although both are still in negative territory……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

Amid a marked slowdown in transactions from local buyers, mainlanders may be the saving grace for Hong Kong property agents, who otherwise face long days by a quiet phone. The number of sales & purchase agreements signed here in July, the latest month available, was down 37 percent from June — and 51 percent compared with July last year.
Attempts by the Hong Kong government to curb the territory’s property market, up 78 percent since the start of 2009, have chased away local buyers but aren’t dissuading mainland Chinese. The government mission to tackle the runaway market is mainly making it harder for locals to buy……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

The youth of Bangkok have a preference for living in condominiums over other types of residential developments, and are willing to dip into their pockets to hand over up to THB2 million per unit, according to a survey by Plus Property Co.
The research revealed that condominiums were in demand for 19-26 year olds, but later in life they hoped to acquire a single house or semi-detached house, reported The Bangkok Post……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

The real estate market in the capital city of Ha Noi is expected to warm up next month because of activity in the low-income housing sector. Both the agreement to secure bank loans for the Kien Hung affordable housing project and the reduction in the interest rates for those loans would catalyse the recovery of Ha Noi’s real estate market in the near future.
Deputy Minister of Construction Nguyen Tran Nam said that demand for real estate would remain high in the long term so the market would attract further local and foreign investors in the future……………………………………….Full Article: Source

Posted on 31 August 2011 by Laxman |  Email |Print

Australia is expected to remain the most active property investment market in Asia Pacific for the rest of the year as offshore investors seek quality assets in a mature market with growth prospects, property services firm CB Richard Ellis said.
Sales activity could also pick up after some listed Australian property trusts including Stockland and GPT unveiled plans to sell their assets to fund share buybacks or seek other opportunities………………………………………Full Article: Source

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