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Real Estate Briefing 13.Sep 2011

Posted on 13 September 2011 by Laxman |  Email |Print

Traditional investments are delivering low returns, and home prices are at bargain levels. Is it time to consider buying some rental housing?
Investing in real estate right now can be surprisingly profitable, if everything goes well. Rents are climbing in many areas, and more properties may be coming on the market. Last month, the Obama administration asked for proposals on how to convert at least some of Fannie Mae’s and Freddie Mac’s bulging inventories of foreclosed homes into affordable rentals……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

President Barack Obama’s prime-time address on jobs didn’t focus much on housing, to the concern of some economists. Most of the housing-related attention focused on his call for more refinancing.
But the president’s job-creation bill actually includes some aid for housing: It would create a $15 billion fund to get construction workers to rehab vacant and foreclosed homes and businesses. Construction hiring has been weak, of course, because competition from foreclosures has held new home building at abysmally low levels……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

While building and repairing the country’s infrastructure and a few other programs would be helpful to the economy, I believe one thing is certain.
This president and his administration don’t understand that the housing market is the foundation of our economy, and until the housing market becomes positive, none of these expenditures for economic stimulus will matter. We will continue to have a sideways, no-growth economy that borders on recession for years. This president and the majority of members of both parties in Congress don’t get it……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

Existing and new property prices in the United States increased in June for the third consecutive month, seeing gains of 0.9%, according to the latest index from FNC Inc.
The increase follows a 0.8% rise in May and a 0.5% increase in April, the company’s residential price index that covers existing and new home sales, but excludes foreclosed homes shows……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

1. Sand Hill Road, Menlo Park, Calif. Office rents average $114 per square foot on Sand Hill Road in Menlo Park, Calif., making it the most expensive street for office space in the country — and North America, according to a report from Jones Lang LaSalle, a real-estate services firm.
The venture-capital firms that fund tech startups abound here, though most businesses are set far back off the roadway……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

The Royal Institution of Chartered Surveyors (RICS) has announced the launch of a Valuer Registration Scheme in continental Europe in a bid to raise confidence in valuation advice and reinforce professional standards in property valuation.
The launch of the scheme - the first global regulation initiative for property valuation - follows a successful introduction in the UK in October 2010 and precedes the Asian launch later this year……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

UK commercial development activity fell at its fastest rate in 11 months in August, hit by concerns over the stability of Britain’s economic recovery and bank lending, a report by property advisor Savills showed on Monday.
Savills’ Total Commercial Property Sector Index, which surveys 200 developers, funders and contractors, fell to -12.1 in August from -7.4 in July. Some 29 percent recorded a fall and 17 percent saw a rise……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

House prices in England and Wales fell in August and transactions slipped to levels last seen during the recession in 2009, a survey showed on Tuesday.
The Royal Institution of Chartered Surveyors’ seasonally adjusted house price balance inched down to -23 from -22 in July, in line with the median forecast in a Reuters poll……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

The Scottish housing market remains subdued amid continuing economic uncertainty, according to surveyors. A report by the Royal Institution of Chartered Surveyors has also suggested a lack of mortgage finance is deterring potential buyers.
Two-thirds of surveyors questioned said house prices were unchanged in August, while 28% said they had dropped……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

Istanbul’s property market continues to accelerate ahead of the rest of the world according to new data from the city’s chamber of commerce. Foreign direct investment into Istanbul increased by an impressive 27% this year meaning Istanbul is now one of the most popular property hot-spots in the world.
Turkey’s thriving economy which outpaced China to become the world’s fastest growing economy earlier in the year has been focused around the countries successful banking and financial sectors as well as flourishing tourism industry……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

Residential real estate markets in Kuwait and Saudi Arabia are most attractive for investors while Dubai is showing signs of stabilizing, investment bank Global Investment House (GIH) said in a new report.
Saudi Arabia’s residential segment remained the most lucrative exposure, GIH said, as demand significantly outpaced supply on growing population, business activity and an inherent shortage of residential units……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

Property prices in Ajman have fallen by 20 per cent this year compared to 2010, with the market likely to stabilise next year, according to a senior government official.
“We have seen a price correction of 20 per cent from last year. We expect the market to stabilise next year with prices likely to fall by another five per cent,” Ajman Real Estate Regulatory Agency (Arra) Executive-Director Yafea Eid Al said……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

With property prices in some parts of Dubai said to have dropped by up to 64 per cent last year, it comes as no surprise to read that Knight Frank’s Global House Price Index ranked Dubai as the ninth worst performing property market in the world last year.
It’s the kind of news story that causes people in the UK to rub their hands together and ask friends in Dubai, a bit too gleefully, if their house is now worth less than the paper the sales agreement’s written on – a question that draws a weary sigh from most of us because those type of headline figures only tell a part of the story……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

Nakheel PJSC, Dubai’s biggest developer, told creditors it wrote down 78.6 billion dirhams ($21.4 billion) from the value of its real estate as property prices in the emirate crashed.
The Dubai government-owned company wrote off 301.4 million dirhams in the first half of last year, 73.8 billion dirhams in 2009 and a further 4.44 billion dirhams in 2008, according to its Islamic bond prospectus issued last month and obtained by Bloomberg News………………………………………Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

China’s banking regulator has warned domestic banks of risks in commercial properties and some second-tier cities’ real estate markets, the state-run China Securities Journal reported Tuesday, citing an unnamed source.
The China Banking Regulatory Commission also asked banks to tighten supervision over commercial housing mortgages and consumer loans, the newspaper quoted the source as saying……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

China’s property prices may fall in the next 12 to 18 months as banks curb loans to real estate companies, which may slow development, Hong Kong billionaire developer Vincent Lo said.
The government is pushing banks to hold back lending to property firms as it attempts to cool the housing market, said Lo, chairman of Shui On Land Ltd. The developer received a Chinese bank’s approval for a loan, which was withdrawn as the lender had a policy change, he said in an interview with Bloomberg Television……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

Property agents said buyers from China make up the largest group of foreign investors in Singapore’s private residential property, according to a news article on the website of Channel NewsAsia, the Singapore based news network.
The number of buyers from China has doubled in the past three years. Property agents and developers said Chinese buyers are mostly interested in properties that are in prime districts and have a sea view.Previously, the traditional groups of foreign buyers were from Indonesia and Malaysia……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

The Real Estate Developers’ Association of Singapore (REDAS) is urging the government to review its land sales programme for fears of potential oversupply of private property in the near future.
Fueled by the current economic uncertainties, developers are saying that the demand for private homes is decreasing and that the government needs to step up its moderation of land sales to ensure a sustainable market……………………………………….Full Article: Source

Posted on 13 September 2011 by Laxman |  Email |Print

Real estate market statistics issued today are showing a large increase in the number of properties sold in August compared with last year and prices across most parts of New Zealand rising.
The Real Estate Institute of New Zealand’s latest monthly data showed 5192 unconditional sales for the month, up 905 or 21 per cent compared to August last year……………………………………….Full Article: Source

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