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Real Estate Briefing 15.Sep 2011

Posted on 15 September 2011 by Laxman |  Email |Print

Anthony SandersPresident Obama’s proposal to expand access to mortgage refinancing has reignited a debate about the appropriate role for government in supporting the housing market. Some economists argue that the best way to spur the recovery is to stop intervening, let matters run their course, and allow home prices to normalize naturally.
The new initiative, briefly mentioned by the president in his jobs speech last week, seeks to help homeowners to refinance their mortgages at lower interest rates with hopes to stimulate consumer spending and boost economic growth……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

Despite the troubling signs in today’s housing market, it’s worth remembering that the nation is projected to see almost 5 million existing homes sold this year, according to the National Association of Realtors.
That’s down from about 7 million in the record-year of 2005, but it still means that plenty of people are buying and selling real estate. New-home sales are dismal, but it’s not as though they have stopped altogether……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

Mortgage rates hit their lowest level recorded in the history of the Mortgage Bankers Association’s weekly rate survey, but mortgage activity remains muted, the trade group said Wednesday.
The average 30-year fixed-rate mortgage fell to 4.17% last week, down from 4.23% one week earlier. That’s the lowest since the MBA began its survey in 1990. Rates have been near 60-year lows for the last several weeks. The MBA’s previous low of 4.21% was set in October 2010……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

A US economic forecaster has claimed mortgage brokers could actually benefit from a housing bubble.
Long-range economic forecaster and author Harry Dent has echoed predictions from economist Steve Keen that Australia’s property market will see significant decline in the years ahead. Dent built a reputation in the United States forecasting the economic downturn in Japan starting in the late 1980s, the economic boom of the 1990s and early 2000s, and the onset of the GFC. ………………………………………Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

The US commercial real estate industry is expected to slow down in the coming quarters, though the industry outlook remains healthy, according to a latest survey of industry forecasts by the Pension Real Estate Investment Association (PREA).
PREA asked 20 of the leading US real estate industry actors for their forecasts for the commercial real estate industry as represented by the NCREIF Property index (NPI), the common benchmark for commercial real estate industry in the US……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

Where do this country’s most prosperous citizens hang out? How much money do they have? President Obama wants them to pay a bit more in taxes. But how much are they coughing up now?
Answers to these questions can be extracted from a little-utilized IRS database of income tax statistics. The file sorts tax returns by income range and by zip code……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

European and UK real estate companies will see their funding costs increase as the risk of a fresh liquidity squeeze rises amid threats from the sovereign debt crisis and a weakening economy, Societe General said.
The brokerage downgraded the UK real estate sector to ‘underweight’ from ‘neutral,’ saying the rising risk of a fresh liquidity squeeze and shortage of credit is casting a shadow over property prices and new property development launches……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

The introduction of austerity measures in Europe’s crisis-hit countries is polarising the investment market, driving returns to around 25% higher in the least exposed markets such as the Nordics and CEE, according to new research released on Wednesday by global real estate services firm DTZ.
In the report, Greece, Ireland, Italy and Portugal are categorised as the ‘most exposed’ markets while five countries including Germany and the UK are classified as ‘marginally exposed’. Economies outside the Euro including the Nordics and CEE nations are classed as ‘least exposed’……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

UK commercial property price growth remained steady at 0.1 percent in August, with offices outperforming retail and industrial and taking the rise in UK property values to 25 consecutive months, research showed.
Investment Property Databank’s monthly index showed UK offices produced total returns of 0.8 percent in August, outstripping the 0.6 percent generated by industrial property and 0.5 percent from retail……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

Central London office leasing activity bounced back sharply in August with nearly 1 million sq ft (92,000 m2) of take-up across all markets, according to research released by CB Richard Ellis (CBRE) on Wednesday.
Ten deals over 20,000 sq ft and a significant pre-let in Canary Wharf - European Medicines Agency’s 250,300 sq ft lease at the proposed 25 Churchill Place - meant transactions in Central London were 72% higher than in the same period last year……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

Ever since property bubbles popped across the developed world, many markets have struggled to find a bottom. France, on the other hand, not only rebounded quickly, it is also nearing its highs. However, French property prices are expected to fall by up to 10%, according to Societe Generale analyst Michel Martinez.
Austerity measures and economic uncertainty in France are causing people to be more particular about their spending habits. Also, banks are likely to restrict lending, adding to pressure on property prices……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

The dream of owning a home in the suburbs seems more and more obsolete in Germany. So, many people are banding together in co-ops to design and build their own houses - without investors who drive up prices.
Raising kids right in the middle of the city was a pretty uncomfortable idea for many in Germany just a decade ago. Families headed out to the suburbs or even into the countryside to set up their homes……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

The last three months show a distinct slowdown on the Swedish housing market, according to Sweden’s real estate statistics website Mäklarstatistik.
”We now have enough information to say that there is a small dip in prices. And we still think that developments will stay calm over the next few months, with one percent up or down,” said Lars-Erik Nykvist, CEO at real estate agency Fastighetsbyrån to daily Dagens Nyheter (DN). ………………………………………Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

Domestic and international demand has helped boost growth in the Moroccan property market, it has been asserted.
Nik Kapur, director at M2Morocco.com, explained that there are an increasing number of opportunities for investors in the country’s real estate sector……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

Burnt by grand and audacious real estate projects, which became financial burdens when market bubbles burst three years ago, property developers in the Gulf are putting more emphasis on mundane but affordable housing.
Their motives are mainly economic, but they are being encouraged by governments, which are trying to improve mass living standards after this year’s political unrest in the region. A chronic lack of affordable, quality housing for growing populations was one factor behind the unrest……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

Investment activity in Asia falls in the second quarter but the lull is primarily the result of short-term weaker market sentiment as opposed to fundamental change in market conditions, according to an article on the website of Alternative Ownership Conference Hotels and Resorts-Asia Pacific (AOCAP).
Australia accounts for 24 per cent of total investment in Asia Pacific in the second quarter, the largest of any markets, as the Pacific recovers from a slow start to the year……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

Home transactions in first-tier cities in China fell significantly in early September, reports Shanghai Securities News.
According to Beijing Centaline Property, new home transactions in the first 12-day period in September in Beijing averaged just 135 units, the lowest level since February. On the day of the Mid-Autumn Festival, there were only 64 transactions of new homes……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

An exchange traded fund tracking real estate stocks in China and Hong Kong fell 3% on Wednesday and recorded a new 52-week low. The ETF’s roughly 20% loss so far this year is a sign China’s property bubble is bursting.
The Guggenheim China Real Estate fund tries to reflect the performance of the AlphaShares China Real Estate Index, which holds publicly-traded companies and real estate investment trusts (REITs) that generate a majority of their revenues from real estate development, management and/or ownership of property in China, Hong Kong and Macau……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

Despite the bright business outlook driven by strong confidence in the economy among consumers in the second half, property developers are still concerned that the unclear housing policy of the government and rising costs will affect the sector significantly.
Therdsak Thaveeteeratham, a senior vice-president with Asia Plus Securities, said the market in the latter half would be active as listed developers launch a number of new projects……………………………………….Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

Foreign investors looking to invest in real estate-related businesses have ranked Manila as their last choice among various key cities in the Asia-Pacific.
According to the Emerging Trends in Real Estate Asia Pacific 2011 survey conducted by the Urban Land Institute (ULI), global real estate investors gave Manila a score of 4.56 points out of a possible 9, placing the city a few points below “fair” and somewhere within the realms of “abysmal.”………………………………………Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

When Prologis (PLD) Inc. built Japan’s first logistics center in 2002 for inventory management, storage and distribution, potential clients and lenders told the company to invest in malls or apartments instead.
“Investment in logistics facilities was unheard of in Japan,” said Tokyo-based Miki Yamada, president of Japan operations at Prologis, the world’s biggest warehouse owner. “Everyone said it doesn’t work and no one was interested.”………………………………………Full Article: Source

Posted on 15 September 2011 by Laxman |  Email |Print

Investors hungry for yield have shoveled a record amount of cash into mutual funds and exchange traded funds that invest in real estate investment trusts.
According to Citigroup Global Markets, investors allocated $3.7 billion into mutual funds that invest in U.S. real estate investment trusts this year, the most new money added since 2006, report Oshrat Carmiel and Margaret Collins for Bloomberg. Total assets in the sector funds, including ETFs, are at a record $96 billion………………………………………Full Article: Source

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