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Real Estate Briefing 06.Sep 2011

Posted on 06 September 2011 by Laxman |  Email |Print

Bill MileyFor decades, Americans have aspired to own homes, and everyone from bankers to government officials has worked to make the dream accessible. But around the country, particularly in places hit hardest by the real estate bust, that’s changing.
Legions of homeowners remain underwater on their mortgages or unable to move because they can’t sell their house. Plenty who want homes can’t buy them because credit remains tight……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

Bill PagePrime office rents across Europe continued to grow modestly in the second quarter of 2011 (Q2 2011) according to Jones Lang LaSalle’s latest European Office Clock report.
Jones Lang LaSalle’s European Office Index revealed a 2.1% increase over Q2 2011 based on rental growth in eight index markets. This was led by a strong performance in Moscow (+20%), Warsaw (+13.6%) and Lyon (+8.0%) with more modest rental growth witnessed in some of the German markets (Munich +3.4%, Berlin +2.4%, Hamburg +2.2%) as well as London’s West End (+2.7%) and Stockholm (+2.5%)……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

Moscow provided one of the few exceptions to an otherwise largely static first half across European property markets, according to a report published by CBRE.
Occupier uncertainty in the European office market pushed take-up down 6% across European office markets in the first half of the year compared with H1 2010, and 12% compared with the second half of last year……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

A leading economic forecaster makes mention of a 5% overall fall in UK house prices in 2012. The prediction is included in Ernst & Young ITEM Club’s outlook for the UK banking sector, which notes that the housing market has experienced a “renewed softening” over the past year, with prices having so far declined by around 1% from their 2010 peak, according to the Nationwide measure.
However, with demand fundamentals remaining weak, and the banks unlikely to ease lending criteria substantially in the near-term, the Club expects the value of the average home to continue falling next year, with a disturbing January to December decline of 5%……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

Commercial property transaction volumes in the UK and Europe have been ticking up over the past quarter, with a number of large institutional investors snapping up assets.
Several are reporting notable shifts in the locations investors are backing, though, with economies across Europe growing or slowing at distinctively different speeds……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

Invesco Real Estate (IRE), the global real estate investment manager, is pleased to announce that it has completed/exchanged contracts on two acquisitions for the Invesco Real Estate - UK III Fund, being the BREEAM Excellent-rated ‘The Paragon’ in central Bristol and a retail warehouse in Harlow, northeast London for a total investment of ca. £48 million (approx. €55 million).
Toby Simon, Invesco Real Estate’s Director of Fund Management, says: “The two investments fit the Fund profile well by focusing on strong real estate fundamentals……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

French property prices have gone up for the fifth quarter in a row, the latest research from FNAIM shows. The organisation’s members have witnessed a 3.3% increase in prices on average, with rural parts of the country benefiting from growth of more than 4%.
Investors may be turning their attentions to the French property market as a result of tax changes in the country which will see the ISF threshold rise to 1.3 million euros from its current level of 800,000 euros……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

Real estate investors in Switzerland should be wary of an increase to the country’s interest rates, as its knock-on effect could lead to property prices falling in a fashion not seen in 20 years, Towers Watson has said.
The warning comes after Swiss interest rates briefly fell into negative territory in August, with the LIBOR rate now hovering around 0%……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

Investment in Russian commercial real estate hit a record high in the second quarter of 2011, exceeding even the boom levels reached in the years of 2005 to 2008, according to new research released by CB Richard Ellis.
There were 11 deals in Russia in the second quarter of 2011 amounting to EUR 1.6 bn - the largest transaction volume ever recorded on a quarterly basis. The second-biggest was the third quarter of 2008, when investments reached EUR 1.3 bn across 20 deals……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

The decline in housing prices will reach its lowest level by mid 2013, Yossi Efrati, head of ILD investment department, says in the department’s August survey and September 2011 forecast.
“The outcome of declines in demand, which will deepen even more next year, as well as growing supply which will peak next year, are expected to drive real estate prices down by 15% pursuant to the modest declines which have started in the last quarter which means that holding off on buying a flat will pay off and the perfect timing to go ahead with the purchase is sometime in mid 2013.”………………………………………Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

Pace of decline for sale prices and rentals across Dubai’s real estate market slowed in the second quarter 2011, reflecting “signs of stability”, while Abu Dhabi continued to witness declines on back of oversupply, says a new report.
Apartment rents in Dubai fell two per cent after registering a similar decline in the first quarter, Global Investment House said. Villa rents remained stable without any significant declines after falling a mere percent in the fourth quarter of 2010……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

Countries throughout the Asia Pacific region have significantly lower building costs than their counterparts in The West, despite experiencing substantial economic growth. India and Sri Lanka have the lowest construction costs in the Asia Pacific region; 70% less than in the UK. China comes in next with building costs 55% lower than those in Britain.
And despite property prices booming in Hong Kong and Singapore over the last year, the two islands maintained their costs at 2010 levels; around 10% below those in the UK. (Press Release)

Posted on 06 September 2011 by Laxman |  Email |Print

The Union Cabinet on Monday cleared a new land acquisition law that tries to bridge the gaps in existing legislation. Popular protests against governments acquiring land for private projects have spread across the country and toppled a 35-year-old Left government in Bengal.
The Congress hopes to gain some political mileage from the new law and deflect accusations of policy drift. Industry, however, was less than enthusiastic about the new law……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

According to the National Housing Bank (NHB), house prices across 12 Indian cities had shown an uptrend in the April-June quarter with Bhopal posting the highest gains.
Experts had claimed that the demand for property in major cities across India had fallen following the Reserve Bank of India (RBI) raising interest rates 11 times since March 2010 to control inflation……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

The biggest building boom in India is mired in legal uncertainty as to who owns the land around new up-market apartments overlooking Greg Norman-designed golf courses and in townships near the nation’s first Formula One racing track.
Across India, land acquisitions have been marred by protests, stalling about $80 billion of steel projects and a highway from New Delhi to the city of Agra, home to the Taj Mahal……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

China’s overheated real estate market is showing signs of correction. With a glut of overpriced, vacant residential real estate on their hands, many large developers in Beijing have been offering steep discounts recently, even 60 percent. But the developers may be taking a hard hit, Chinese experts say, as they are sitting on a mountain of debt, according to a recent report.
During the past couple of years China has experienced a real estate boom. Residential real estate prices have gone sky-high……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

Kohlberg Kravis Roberts & Co. and Chinese property developer Sino-Ocean Land Holdings Ltd. said they have set up an investment platform that will look for opportunities in China’s real-estate market.
Each will contribute $71 million to the platform, which will focus on middle-income residential housing in China’s rapidly expanding cities……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

Malaysians are ditching the local real estate market in favour of countries that have been affected by the global economic crisis, resulting in cheaper currencies.
With property prices in Kuala Lumpur and other local cities on a steady rise, investors are focusing their funds towards overseas properties where they can take advantage of lower exchange rate, especially in the Eurozone and USA……………………………………….Full Article: Source

Posted on 06 September 2011 by Laxman |  Email |Print

More Kiwis are holding onto their property investments in anticipation of increased cash flow on higher rents, rather than expectations of capital gain.
The results are contained in the latest ANZ Property Investment Survey of more than 1800 property investors, 80 per cent of whom said they were planning to hike rents by up five per cent in the next year - 26 per cent of them because of the May Budget……………………………………….Full Article: Source

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