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Real Estate Briefing 07.Sep 2011

Posted on 07 September 2011 by Laxman |  Email |Print

Anthony BuonoMore than half of U.S. retail chains plan to open more stores because of lower rents, a report by CB Richard Ellis Group Inc. (CBG) found.
Fifty-nine percent of retailers surveyed said “compelling rent levels” are encouraging them to expand, according to Anthony Buono, executive managing director of CB Richard Ellis’s retail services group for the Americas. The company, based in Los Angeles, is the world’s largest commercial real estate services firm……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

Lawrence YunCommercial real estate vacancy rates in the United States are flat and projections for growth have been moderated because economic growth and job creation have been weaker than expected, but modest improvements are expected over the coming year, according to the National Association of Realtors.
NAR chief economist, Lawrence Yun, said the weakening economy will slow the growth in demand for space……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

Based on Freddie Mac latest Primary Mortgage Market Survey (PMMS), mortgage rates declining amid continued weak economic and housing data. While the 30-year fixed held steady, the 5-year ARM set a new all-time record low having fallen for the eighth consecutive week and now standing at 2.96 percent.
Frank Nothaft, vice president and chief economist of Freddie Mac said, “Weaker economic data reports eased upward pressure on mortgage rates this week and kept them at or near all-time record lows……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

The 17 lawsuits filed Friday by federal regulators against some of the world’s biggest financial institutions hinge on a simple premise: The mortgage loans that banks packaged into securities often didn’t meet the underwriting guidelines the banks outlined in their securities filings.
The lawsuits, filed by the Federal Housing Finance Agency, allege that the banks made untrue statements and omitted key facts when they sold mortgage investments to loan giants Fannie Mae and Freddie Mac……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

REITs are trusts that invest in a wide range of real estate assets – shopping centres, office buildings, industrial properties and apartments, for example. Some REITs focus on a particular type of real estate, while others diversify across several property classes.
If you like the idea of owning investment real estate, but don’t want the hassle of dealing with problem tenants or broken toilets, REITs have several advantages: They provide diversification and professional management, and they can be bought and sold quickly on a stock exchange, making them much more liquid than an investment property……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

Montreal mortgage brokers worried that home prices were growing too fast for clients to keep pace can stop wringing their hands, with new numbers suggesting their hot market is starting to cool.
“Though Montreal’s 12-month inflation was the second highest of the six markets,” reads the August report from the Teranet – National Bank National Composite House Price Index, “it decelerated in June for a third straight month.”………………………………………Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

International real estate advisor Savills forecasts that 2011 will see some European markets beat 2010 levels in terms of annual turnover, including France, Germany, Ireland and Norway.
In its latest European Investment bulletin, which surveys commercial real estate investment markets across 18 countries, the firm forecasts that total volumes will be up 2.1% overall but identifies areas where performance will be stronger. However, with first half year results at 7.9% higher than the same time period in 2010, Savills predicts a slowdown in H2 volumes……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

Cross-border European property funds recorded a fifth consecutive quarter of positive returns, delivering 1.2%, despite ongoing eurozone debt contagion concerns, according to the IPD pan-European Pooled Funds Index.
Reliable income returns across the portfolios have kept overall returns positive, despite values suffering due to the general uncertainty concerning the eurozone……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

Property owners in Europe have been made aware that investment on the continent has increased on the whole while other geographical trends have also appeared.
Data released by AXA showed that it completed 80 transactions comprising €1.19 billion of acquisitions and €939 million of sales completed during first half of 2011. This is compared to €2.7 billion of transactions undertaken for the whole of 2010……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

British house prices fell 0.6% in August from July, when they had increased by 0.3%, a key survey by home loans provider Nationwide showed.
“UK house prices declined by 0.6% in August, although this does not change the picture of relative stability that has characterised the market over the past 12 months,” said Nationwide chief economist Robert Gardner……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

A mortgage offering struggling families and first time homebuyers the opportunity to borrow the full cost of their property has been launched by Aldermore.
The fledgling bank, a new entrant for home owners and small businesses, is offering the so-called 100 per cent mortgage at an interest rate of 6.48 per cent, fixed for three years……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

International investors are showing a strong interest in the main Dutch office markets, resulting in net yields being driven downward to between 5.3% and 5.7%, according to research released by Savills.
The office markets of Rotterdam and The Hague recorded investment turnover for EUR 80 mln and EUR 107 mln respectively in the first half of 2011……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

Agreements on the construction of 260,000 residential units in the framework of Mehr Housing Scheme have been signed with mass builders, said deputy road and urban construction minister.
Ahmad Asghari Mehrabadi expressed satisfaction over the progress of the projects. He noted that construction of about 430,000 Mehr housing units is expected to be completed by the end of the current Iranian year (in March 2012)……………………………………….Full Article: Source

Posted on 07 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 07 September 2011 by Laxman |  Email |Print

The problems of falling sales and rising inventory have forced builders across the country to work with each other - sharing land, labour, investment, as well as other resources, to bring down costs and manage inventory.
While a few have decided to build joint projects using one builder’s land and another builder’s development and marketing skills, others are sharing capital……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

China’s measures to control its property market are at a critical stage and the nation needs to focus efforts on curbing housing price gains in second and third-tier cities, Chinese Premier Wen Jiabao said in an essay.
“We must unswervingly curb irrational housing demand, continue to strictly implement differential housing loans, tax policies and restriction on purchases,” Wen wrote in Qiushi magazine, a publication of the ruling Communist Party……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

China Vanke Co. Ltd. sold 960,000 square meters of properties in August worth RMB 10.48 billion, up 15.4% month-on-month but down 12.6% year-on-year, while its average sale price also fell 6% last month, the developer said in a company filing on Monday.
That’s the first actual drop in single-month sales for the country’s largest residential property developer this year. Sales for the past 8 months totaled RMB 84.57 billion, up 47.8% y-o-y; area sold totaled 7.33 million square meters, up 50.4% y-o-y……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

Blue-chip giant Sun Hung Kai Properties Ltd.bought a New Territories residential site at an auction Tuesday for US$400 million, a price below of market expectations and which underscores concern regarding the outlook for the real estate sector amid market volatility and rising mortgage rates.
The result affirmed the view among some analysts that the city’s long-sizzling property market has been cooling for some weeks. At the government’s last land auction in August, a luxury residential property site garnered just one bid–and that was also below market forecasts……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

Hong Kong’s property market is showing signs it may “roll over” as prices drop over the next one or two years with the city’s currency peg linking it to the risk of higher U.S. interest rates, according to MGPA.
Prices of the city’s office buildings may decline as much as 20 percent while home values may fall up to 30 percent during that period, said John Saunders, Asia chief executive officer of MGPA, a private-equity real estate investment firm that manages $10 billion of assets in Asia and Europe……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

A proposal to change the way housing loans are approved has property consultants and analysts worried as they felt loans given based on net income as opposed to gross income would dampen demand for housing.
Some banks, however, don’t have an issue with the proposed changes as one banker said changes to the debt serviceability ratio would be good for the housing market. He said the proposed changes were for the benefit of home buyers……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

Taiwan’s major housing brokers saw their transactions shrink by double digits last month from a month earlier after stock market turmoil and unfavorable political rhetoric sapped confidence.
Home trading at H&B Realty Co, the nation’s largest real-estate broker by number of franchises, declined 13 percent last month from July, when the market showed signs of recovery from the implementation of a special sales levy known as the luxury tax, head researcher Jessica Hsu said……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

The luxury property market in Bangkok was broadly static during the second quarter of the year, new figures show. Research published by CB Richard Ellis (CBRE) showed that this sector of the Thai real estate industry has seen a slight fall in capital values in this period, in part due to a reduction in the number of buy-to-let investors entering the sector.
CBRE has predicted that this weakening in demand among investors is likely to “exert further downward pressure on prices in the third quarter”……………………………………….Full Article: Source

Posted on 07 September 2011 by Laxman |  Email |Print

The residential property market in New Zealand is now showing all the signs of gearing up for a much stronger Spring season than has been seen for a number of years, according to the latest NZ property report.
The truncated mean asking price for all new listings in August rose significantly from $403,474 in July to $415,0784. On a seasonally adjusted basis the asking price rose by 2.7% in the month indicating that there is an emerging confidence amongst sellers of stronger prices, the report shows……………………………………….Full Article: Source

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