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Real Estate Briefing 01.Sep 2011

Posted on 01 September 2011 by Laxman |  Email |Print

In the days ahead, the Obama administration is expected to announce yet another initiative to help rescue the housing market.

Just what the new plan will entail is unknown, but the New York Times and CNBC have speculated that it might unveil a program that would open up refinancing to borrowers who owe more on their loans than their homes are worth, allowing them to take advantage of current low mortgage rates. Such a move would enable many borrowers to keep their homes by making their monthly payments more affordable……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

If the Obama administration really wants to save the housing market, it should speed up the foreclosure process — not prolong the inevitable, experts say.

Four years into the housing crisis, the real estate market is still teetering on the edge. The Obama administration has tried one program after another to stem the tide of foreclosures with limited success. And it is continuing to look for ways “to ease the burden on struggling homeowners,” though no new initiative is imminent, the White House said this week……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

For millions of homeowners, the bursting of the housing bubble seems like a never-ending nightmare. But in just another month, a new chapter of that saga may begin for homeowners and potential buyers in high-priced real estate markets.

The latest bad news for housing comes from the federal government, which is reducing the size of mortgage loans that are eligible for government guarantees. Although everyone knew the move would come eventually, hopes that the market would already have recovered by the time limits moved back down have proven overly optimistic……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

U.S. home prices edged up for the fourth month in a row in July, while the yearly rate of decline moderated, data analysis company CoreLogic Inc said on Wednesday.

CoreLogic’s home price index rose 0.8 percent from the month before. Prices declined 5.2 percent from July of last year, an improvement from June’s year-over-year decline of 6.0 percent. June’s yearly figure was revised from a decline of 6.8 percent……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

Home values worldwide rose at the slowest pace in two years in the second quarter as declines in Europe combined with smaller gains in Asia, Knight Frank LLP said.

Prices increased 0.1 percent from the previous three months, according to a report released today by the London-based real-estate broker. That’s the least since the second quarter of 2009, when there was a 0.9 percent drop……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

European property markets now offer better value to investors than they did in the first quarter of 2011, according to the latest European all-property DTZ Fair Value Index.

The index, which measures the attractiveness of commercial real estate markets around the world, currently stands at 41 for Europe, which is an increase from 32 in Q1 2011. All sectors gained with offices increasing to 28 in Q2 2011 from 17 in Q1 2011, and retail and industrial both increasing to 52 from 40 and 48 in Q1 2011 respectively……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

What better timing for maximum media coverage than the tail end of an August bank holiday to drop an apocalyptic property market prediction?

According to a new report by the National Housing Federation, based on research and economic modeling by Oxford Economics, everything that’s financially painful for people who don’t currently own their own homes is about to occur, all at once……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

The UK housing market has witnessed months of relatively low activity, with the economic climate leading to a wait-and-see approach from many potential buyers and sellers.

The latest figures from HM Revenue and Customs showed that 10,000 fewer homes were sold in the UK in July 2011 than a year earlier……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

Savills has estimated that 700 million ft² (approx. 65 million m²) of commercial floor space may need to undergo an energy efficiency overhaul by 2018.
This is according to its latest ‘Opportunities in Green’ report in which the international real estate advisor explores the impact of Private Rented Sector regulations which form part of the 2011 revised Energy Bill……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

French house prices rose by 9.1% (7.1% when adjusted for inflation) in the year to end-Q1 2011, according to the National Institute for Statistic and Economic Studies (INSEE).

In Paris, house prices were up by 18% in the year to end-Q4 2010. The price per square metre of apartments in Paris also went up by 17.11% y-o-y to the first quarter of 2011, a huge leap……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

International construction group Skanska is still seeing steady demand in the Swedish commercial property market while residential buyers remain cautious, the head of the company’s Swedish business said on Wednesday.

Sweden last year accounted for about 23 percent of the company’s 122 billion crown($19.2 billion) turnover. The firm is also active in the United States, Britain, other Nordic states and several eastern European markets……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

Poland’s property market stagnated in the first quarter of 2011, despite strong economic growth and robust investment into the country. In Q1 2011, property prices slightly rose in Warsaw and Tri-City but declined in the rest of the country.

Based on the latest figures released by REAS, in the year to end-Q1 2011: In Warsaw, the average price of ‘exposed’ units (i.e. already on the market, as opposed to newly-launched) rose slightly by 1.1% (-0.1% in real terms) to PLN 8,353 (€2,112) per sq. m……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

House prices in Slovenia appear to be finally bouncing back, though conflicting signals from two major statistical sources make interpretation difficult.

The house price index published by the Statistical Office of the Republic of Slovenia (SORS) rose 4.11% during the year to the first quarter of 2011, the highest rise since the financial crisis. When adjusted for inflation, house prices increased by 2.34%. The data is largely collected from notaries and the tax administration……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

The likelihood of picking up a bargain Property In Malta increased this week with a new report showing that prices of homes on the island fell in the first quarter of 2011.

The Central Bank of Malta has found that its index of advertised residential property prices fell to the end of March 2011 for the second consecutive quarter, meaning property in the country is cheaper for overseas investors……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

According to official data by the Land Registry Directorate’s Foreigner Affairs Unit, foreigners from a staggering 89 countries across the world have purchased approximately 111,200 estates across Turkey with some 35,249 Brits owning 24,848 properties, putting the UK on a pedestal as one of the most popular buyers of Turkish property followed by Germans and Greeks.

Further research suggests that foreigners have bought real estate in 76 of Turkey’s 81 provinces with a total of 12,190 properties in the economic powerhouse of Istanbul being owned by foreign nationals……………………………………….Full Article: Source

Posted on 01 September 2011 by Laxman |  Email |Print

Spring has come early to the New Zealand property market with a surge in new listings in August, website realestate.co.nz says. However, high levels of sales are keeping inventory low, putting the ball in the seller’s court.

The traditional spring burst of activity usually came in September but this year there was an earlier rush - with 10,120 new listings on the site in August, up from 8966 last month, chief executive Alastair Helm said……………………………………….Full Article: Source

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