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Real Estate Briefing 26.Sep 2011

Posted on 26 September 2011 by Laxman |  Email |Print

Paul DalesIt’s starting to feel as if there are two housing markets. One for the rich — and international buyers — and one for everyone else. In the housing market inhabited by most Americans, prices have fallen 30% or more since the peak in 2007. That’s a steeper decline than during the Depression. Some people have had their homes on the market for a year without a single offer.
Almost a quarter of American homeowners owe more on their house than it’s worth. Another quarter have less than 20% equity. About half of homeowners couldn’t get a mortgage if they applied today, says Paul Dales, senior U.S. economist for Capital Economics……………………………………….Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

Your home has been on the real estate market for months. You haven’t had any offers, or the offers you got were absurdly low. Now what? A lot depends on the property and the market. In general, though, your next steps should be to take the home off the market, give the listing a “rest,” reconsider your asking price, possibly give it some cosmetic tweaks and then get back into the game.
Once you do, you might even end up selling it for more than what you originally asked. I’ve seen it happen more than once……………………………………….Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

A survey conducted for MacroMarkets LLC, a financial technology company co-founded by Yale University economist Robert Shiller, found that economists expect home prices to drop 2.5 percent this year and rise only 1.1 percent annually through 2015. Currently, prices are down nearly 32 percent from their peak in 2005.
If this is the case, economists are essentially forecasting a lost decade for the housing market…………………………………………Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

A moribund housing market is dragging on an already weak U.S. economy, and causing ripples across the border here in Canada.
This week, two key numbers will likely show that U.S. housing is still an incredibly weak spot, with no significant improvements in sight. On Monday new home sales figures are expected to show a fourth consecutive fall in transactions in August, to an annualized number of around 295,000, not far from the low of 278,000 set in August, 2010……………………………………….Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

The European hotel property sector returned 6.9% last year, compared to returns of 14.9% reported in the UK, according to the recently-launched IPD European Hotel Performance Report, which is sponsored by Jones Lang LaSalle Hotels, Invesco Real Estate and HVS.
Capital growth was 1.3%, while income return was 5.5% in 2010……………………………………….Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

The IPD European Hotel Performance Report - sponsored by Jones Lang LaSalle Hotels, Invesco Real Estate and HVS and launched for the first time this year - shows the 2010 all hotels return across Europe to be 6.9% in local currencies, while UK hotels returned 14.9%.
The report, which includes 373 hotels from nine constituent countries, worth €7.6 billion, aims to bring transparency to a sector relatively unknown to the average commercial property investor……………………………………….Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

Luxury home prices in central London climbed the most in 11 months in September, Knight Frank LLP said, as the European sovereign debt crisis encouraged investors to buy less-risky assets.
Values of houses and apartments costing an average of 3.7 million pounds ($5.7 million) rose 11.4 percent from a year earlier, the London-based real-estate broker said in a report today. On a monthly basis, prices rose at the slowest rate since October 2010 as buyers delayed purchases after the worst riots in Britain since the 1980s……………………………………….Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

With stock markets the world over recording huge losses over the last week and the volatility in the markets set to continue due to the euro zone sovereign debt crisis, concerns over the down grading of the US credit rating and the weak US and EU growth figures, investors are pondering which asset class to seek refuge in.
Do they place safe by moving their funds into cash or commodities such as gold, or do they stay put in bonds and equities, or go for investments in “bricks and mortar” property investments?………………………………………Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

Britain is a nation of property lovers. But rather than buying a residential property, how about buying a part of the local high street by investing in commercial property?
The asset class hasn’t always had an easy ride. In 2008, commercial property prices fell by an unprecedented 44 per cent almost overnight as the US sub-prime mortgage crisis resonated around the globe……………………………………….Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

Savills’ latest Brussels office market report forecasts a total transaction value of €2 billion for 2011, following a first half figure that represents a 96% increase on total investment in 2010.
The research confirms that €943 million was transacted in the first half of the year, and that domestic investors accounted for 60% of acquisitions with 30% German and 11% French……………………………………….Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

Tata Group’s realty arm Tata Housing Development Company has joined hands with the Mumbai Metropolitan Region Development Authority (MMRDA) to invest Rs 2,000-crore for a rental housing project near the metropolis.
“We plan to launch a large rental housing project near Mumbai before Diwali. We have got approvals for the project from the MMRDA,” Tata Housing Development Company Managing Director and Chief Executive Brotin Banerjee said……………………………………….Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

The squeeze on China’s property market may be reaching a “tipping point” that drives growth lower just when exports are under threat from a global slowdown and investor confidence is plunging, Hong Kong-based Chief China Economist at Nomura Holdings Incorporated, Zhang Zhiwei said.
Bloomberg reported that land transactions in 133 cities tracked by Soufun Holdings Limited, the country’s biggest real-estate website, fell by 14 per cent by area in August from a month earlier. Prices of new homes declined in 16 of 70 cities last month compared with July, according to government data……………………………………….Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

The share prices of Chinese real estate developers have been hit by talk of funding difficulties within the industry, reflecting concerns that the debt-fueled expansion of recent years could now be under threat as government tightening crimps sales activity.
Analysts acknowledged some smaller developers are under threat. But concerns about liquidity shortages and funding breakdowns are overblown, they say, arguing that China’s shadow banking system will continue to provide abundant — if costly — funding for the sector……………………………………….Full Article: Source

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Posted on 26 September 2011 by Laxman |  Email |Print

A slump in the property market is feared to continue until the end of the year due to what is seen to be another financial crisis in the offing, experts and industry watchers said Sunday.
They cite a major drop in the prices of prime real estate in the upscale southern Seoul areas with more being put up for sale. The price of a 56 square-meter Gaepo apartment tumbled to 960 million won last week, down from 1.02 billion won last month. The price peaked at 1.38 billion won in 2009……………………………………….Full Article: Source

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