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Real Estate Briefing 28.Sep 2011

Posted on 28 September 2011 by Laxman |  Email |Print

Commercial property world wide will attract fewer investors next year due to a less favorable environment for raising new equity, according to real-estate consultants DTZ Holdings PLC, likely leading to the first decline in the sector’s capital growth since 2009.
The company estimated there will be $316 billion capital available to buy buildings globally in 2012, representing a 4% decrease on its 2011 estimate of $329 billion. DTZ also warned that it expects further reductions in available investment for some time to come if the current turbulence in the global economy continues……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

Adrienne WarrenThe renewed slowdown in global economic activity is putting further downward pressure on already-weak residential property markets across much of the developed world, according to the latest Global Real Estate Trends report released Tuesday by Scotia Economics.
And while Canada’s hot housing market also has begun to cool, it remains a “notable outperformer,” says Adrienne Warren, senior economist and real estate specialist with Scotia Economics……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

Canada’s real estate market is slowing while most international markets are stumbling, according to Global Real Estate Trends, a report by Scotia Economics.
The renewed slowdown in global economic activity is putting further downward pressure on already-weak residential property markets across much of the developed world. In the majority of the major markets we track in North America, Europe and Australasia, inflation-adjusted home prices declined on a year-over-year basis in the second quarter of 2011……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

The housing market continues to bottom, despite a fourth consecutive monthly increase in the S&P/Case-Shiller’s home price index. While the 10-city and 20-city composite indices both gained 0.9% in July over June, year-over-yea numbers “indicate that the housing market is still bottoming and has not turned around,” according to index Chairman David Blitzer.
Battered markets take any glimmer of hope in the housing market as a possible sign of a turn around. July’s Case-Shiller index seemed a positive report in the face of it, with both indices recording a fourth consecutive monthly gain and 17 of the 20 Cities surveyed posting positive increases……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

Rising borrowing costs and anemic economic growth are hindering investments in U.S. commercial real estate, said panelists at the Bloomberg Dealmakers Summit in New York.
“In the last 60 days, it’s really slowed down,” Related Cos. President Jeff Blau said at the conference. “People are throwing term sheets around, but I don’t think anyone’s really closing deals.”………………………………………Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

Any success for government efforts to stimulate the economy will be limited unless policies are combined with steps to aid the housing market, according to Federal Reserve Bank of New York economist Joseph Tracy.
“We need to fold in some pretty serious housing policies at the same time, not just to get housing going, but to get the full benefit of all these policies,” Tracy said today at a conference hosted by the New York State Society of Certified Public Accountants. “That would be very complementary.”………………………………………Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

Call it a sliver of a silver lining for America’s beaten-down housing market: The inventory of troubled U.S. homes not yet listed for sale is diminishing.
Homes in foreclosure — or headed into foreclosure — are being sold at a fast enough clip to chip away at the so called “shadow inventory” that hangs over the U.S. market, Santa Ana data provider CoreLogic reported Tuesday. Shadow inventory at the end of July was down to 1.6 million units, representing a five-month supply of homes……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

On site of the gruesome real estate crash, financial paramedics have tried every resuscitating trick in the book to revive their dying patient: Trillions of dollars in government bailouts; repeated first-time buyer tax breaks; and record low mortgage rates.
Yet, the US housing market is showing no gain activity. To wit: A September 26 Commerce Department report revealed that new home sales are on pace for their worst year ever — since the government began keeping records a half century ago……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

The housing market has been in a serious slump since the Great Recession of 2008. Many homeowners have found themselves owing far more on their homes than the actual value. This has led to a major drop in the net worth of some homeowners.
While some areas of the country have seen their housing prices decline gradually, some areas have seen the value of their homes fall off a cliff. Let’s take a look at the five worst housing markets in the United States……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

Identifying real estate investment opportunities for a global portfolio is difficult enough, doing so in an increasingly turbulent economic environment is that much more challenging.
Frank Haggerty, portfolio manager with Duff & Phelps Investment management, sat down with REIT.com during the European Public Real Estate Association’s annual conference in London in early September to talk about the markets he is highest on and where he sees trouble on the horizon……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

The Greek Parliament voted late Tuesday in Athens to back a hugely unpopular property tax, one of a series of new austerity measures. The vote could clear the way for a crucial injection of international financing meant to at least temporarily stave off a default on government debt.
The property tax, the first of its type in Greece, would raise 2 billion euros, or $2.7 billion, this year alone, according to government calculations. The question is whether enough Greek people can or will pay the tax to meet those forecasts……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

The volume of transactions concluded in the Polish commercial real estate market in H1 2011 was €960m, 23% up as compared to the corresponding period of 2010, according to a report drafted by Cushman & Wakefield (C&W).
Although the economic situation across the globe is unstable, the Polish market of commercial real estate attracts strong interest from foreign investors. The first half of the year saw them focusing on office and retail developments, with the former accounting for 55% of total transaction volume……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

Growth in South African commercial property returns stagnated in the first half of 2011, reflecting an overall slowdown and uncertainty in local and global economic conditions.
Property delivered a 4.3% total return in the six months to June according to the SAPOA/IPD SA Biannual Property Indicator, released on Tuesday. IPD is a global information business, dedicated to the objective measurement of commercial real estate performance……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

Dubai’s residential real estate sector is returning to optimism with the market demand now originating from variables that one would expect in established marketplaces, where property specifications are seen as prime consideration for prospective buyers, a leading real estate consultancy said on Tuesday.
While the early part of the year was characterised by uncertainty and unrest both within the region and overseas, “moving into the final quarter of 2011, the Dubai real-estate sector can expect more astute investors and tenants, not only looking for good location sites, but quality and fine detail,” said Cluttons in its third-quarter market report for Dubai’s residential market 2011……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

Dubai is sheltered from the crisis in Europe and the US and its real estate industry is poised to make a comeback, according to Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman and Chief Executive of Emirates airline and Group.
He told Gulf News on the sidelines of Cityscape that those who said that Dubai’s real estate recovery was a long way off were wrong, and said that property prices had finally bottomed out in the emirate……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

Home sales are far and few, but a section of Gujarat builders is planning to raise prices by 10% post-Diwali. Real-estate experts however, feel that the move could possibly boomerang in the present market conditions.
Rising construction and labour costs are the main reasons for a possible hike being considered by the developers most of whom operate in Ahmedabad and Gandhinagar. “Profit margins of the developers are being heavily dented by the rising costs. Therefore, we may consider a 10-12% rise in prices after Diwali,” Suresh Patel, president of GIHED (Gujarat Institute of Housing and Estate Developers) said……………………………………….Full Article: Source

Posted on 28 September 2011 by Laxman |  Email |Print

Most of the Chinese property developers rated by Standard & Poor’s Rating Services would be able to absorb a 10% decline in property sales in 2012, but many would struggle if sales fell by 30%, the credit-ratings firm said Tuesday citing the results of a stress test it conducted.
Although S&P said a sales decline was unlikely, the comments come amid heightened concern over the fiscal health of property developers after China’s banking regulator recently asked the nation’s lightly regulated trust companies to submit details on how much they have lent to Greentown China Holdings Ltd., a Hong Kong-listed property developer……………………………………….Full Article: Source

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