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Real Estate Briefing 02.Sep 2011

Posted on 02 September 2011 by Laxman |  Email |Print

Asia-Pacific nations led a global recovery in prime retail rents as tenants sought to expand in the region, while New York’s Fifth Avenue kept its spot as the world’s most expensive shopping strip.

Rents across the Asia-Pacific region climbed 12.2 percent, the Americas rose 7.4 percent and those in Europe increased 1.9 percent, according to a survey of 63 nations by real estate services company Cushman & Wakefield. Rents across the globe advanced almost 5 percent in the year to June after a decline of about 1.5 percent a year earlier, according to the report……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

Over four-fifths (81%) of the 63 countries surveyed by the global real estate adviser for its Main Streets Across the World report recorded prime rents increasing or remaining static over the year to June. This represents a large increase on the previous year (66%). Around one fifth of countries (19%) saw rents falling, compared with over one third (34%) in 2010.

The report provides a barometer of the global retail market, tracking rents in the top 278 shopping locations across 63 countries. It includes a ranking, produced using the most expensive location in each of the countries……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

Continuing volatility on the world’s stock exchanges means that investors are again turning to global real estate – especially in Asia, believes a top analyst. David Paine, head of real estate at Standard Life Investments, says that the hasty retreat from stocks and shares has created opportunities in property.

“An attractive component of a diversified, multi-asset portfolio is global real estate,” he said. “Good quality commercial property is likely to remain resilient despite the global economic slowdown, which we expect to result in a period of weak growth rather than outright recession.”………………………………………Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

Based on a new report by London-based real estate firm Knight Frank, worldwide mainstream house prices marginally avoided falling into negative territory with prices rising on average by 0.1% in the three months to June 2011 and by 1.7% over a 12-month period.

This weak performance shows the extent to which many of the world’s economies are struggling in the wake of the 2008-09 global crisis. Lending, for most developed economies, remains constrained, confidence is low and households’ disposable incomes are waning……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

A top official at the Federal Reserve called for more aggressive action to help the housing market by allowing more homeowners to refinance and by converting some foreclosures into rental housing.

Home sales have been disappointing this year, with tight credit and weak demand making it harder for markets to absorb a steady stream of foreclosed properties. “Clearly the market is not functioning as it should,” said Federal Reserve Governor Elizabeth Duke in a speech Thursday in Washington……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

Despite the economic headlines of late, financing for commercial real estate is robust. Insurance companies are near levels that existed before the Great Recession and are lending up to 75 percent of value for multifamily and 65 percent to 70 percent of value for commercial properties. A wide variety of options are available: seven-, 10- and 20-year terms; 20- to 25-year amortizations; and nonrecourse financing for suitable transactions.

Most important, lenders also are considering a wider range of transactions. Deals have closed recently that could not have been financed 12 to 18 months ago……………………………………….Full Article: Source

Posted on 02 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 02 September 2011 by Laxman |  Email |Print

Listed real estate companies located in peripheral Eurozone countries, or with sizeable exposure to those markets, are being punished by investors, new research presented at the European Public Real Estate Association’s (EPRA) annual conference on Thursday shows. The stock values of these companies reflect fears the currency bloc may disintegrate, the research reveals.

The average discount to NAV for companies located in the PIGS (Portugal, Italy, Greece and Spain) was 48% and for those with a sizeable exposure to these markets 22%……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

U.K. house prices fell the most in 10 months in August as a slowing economic recovery threatens to undermine demand, Nationwide Building Society said.

The average cost of a home dropped 0.6 percent to 165,914 pounds ($269,800) from July, the Swindon, England-based customer-owned lender said in an e-mailed report today. From a year earlier, values were down 0.4 percent……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

There is an interesting comment in the latest survey of the rental market from the Royal Institution of Chartered Surveyors (Rics). The survey reports that demand for rental property continues to outpace supply as an increasing number of would-be first time buyers are forced to continue renting.

But it then mentions, almost as an aside, that ‘surveyors report that where tenancies are coming up for renewal, some landlords – particularly those in London and the South East – are now choosing to put their properties on the sales market, leaving fewer rental properties available.’………………………………………Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

Central London prime property prices have increased by 36% in two years, with more to come, according to the latest sector index from Knight Frank.

Despite new records being set across London’s most exclusive neighbourhoods, the market should prepare for further gains over the rest of 2011, according to the firms Liam Bailey, head of residential research……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

Transaction volumes in Ireland slowed during the traditionally quiet months of July and August, but activity in the occupier sectors of the market is holding up well as occupiers are taking advantage of the ability to negotiate favourable deals with landlords, according to the latest bi-monthly report released by CB Richard Ellis.

An increasing number of development sites and hotel properties are now being brought to the market and sales are materialising for these properties in cases where vendors’ price expectations are realistic……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

Strong emerging trends in Germany’s property investment market means the country could contribute the greatest share of a potential doubling in the market capitalization of the European listed real estate sector over the next five years, said Philip Charls, Chief Executive of the European Public Real Estate Association (EPRA), at the industry body’s annual conference on Thursday (September 1, 2011).
Philip Charls EPRA CEO said: “Germany’s listed real estate sector has huge potential for growth as investors increasingly come to realize the attractiveness of the listed model……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

The Swiss property market is going from strength to strength, with growth being reported in sales, rental values and construction starts. Many economists put the growth down to economic expansion, increased demand for housing and low interest rates.

However there are worries that the strength of the Swiss franc could stifle growth as costs increase and inflation rises. The Swiss government has recognised the risk and taken measures to address it, including steps to make the market more open to foreign buyers……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

In a country where the yearly housing need is around 600,000-650,000 units, we cannot talk about a pricing balloon or say that the sector is oversupplied, Real Estate Investing Partners Association (GYODER) President Işık Gökkaya told the Anatolia news agency on Thursday.

“According to our [GYODER] research, there will be a huge housing need in Turkey by 2015 as a result of the rising population, renewing old buildings, constructing earthquake-resistant buildings and urban renewal……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

As the debt problems in Europe and the US shift investor interest towards Asia Pacific, Southeast Asia could see more investments coming from outside the region. That is according to property consultants DTZ Research.

DTZ said most of the property investments in 2010 have already come from within the region. In Malaysia, Singapore and Thailand, where property investments are tracked by DTZ Research, intra-ASEAN investments made up 92.6 per cent of all foreign investments in the three countries in 2010……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

Residential property prices in 100 major cities in China were largely flat in August compared with July’s 0.21% on-month increase, China Real Estate Index System said Thursday.

The data provider said a survey of property developers and real-estate agencies showed that the average home price in August was a tad up at CNY8,880 per square meter from CNY8,874 in July. The survey, which the company compiles together with online real-estate brokerage SouFun Holdings Ltd. (SFUN), is watched widely since China scrapped a national property price index in January……………………………………….Full Article: Source

Posted on 02 September 2011 by Laxman |  Email |Print

With prices in the Singaporean property market skyrocketing of late, the development charge is being revised, as the latest report from the Ministry of National Development indicates development charges on non-landed residential properties has increased 12.1 per cent on average and a staggering 21.7 per cent on commercial properties.
In the industrial sector the raise was the most evident, with the development charge 30.9 per cent greater than it was just six months ago………………………………………Full Article: Source

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