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Real Estate Briefing 29.Sep 2011

Posted on 29 September 2011 by Laxman |  Email |Print

U.S. home prices rose for a fourth consecutive month in July but remain down from last year, according to Standard & Poor’s Case-Shiller home-price indexes, as the housing market continues to struggle.
Separate data on consumer sentiment released Tuesday showed just how shaky the economy remains. The Conference Board, a private research group, said its index of consumer confidence barely changed in September, edging up to 45.4 from a dismal 45.2 in August……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

Robert ShillerHousing prices nationwide could keep falling and might not bottom out for years, says Yale Professor and housing expert Robert Shiller.
In February, Shiller said housing prices could still fall 10 percent to 25 percent in real terms before hitting bottom. He recently told Yahoo’s The Daily Ticker he’s standing by the prediction, adding that the economic big picture is looking worse……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

After a robust spring gave lenders and borrowers alike fresh hope for an economic recovery, activity in the commercial real estate market has leveled out, and April’s optimism has faded into September’s anxiety about a double-dip recession.
According to “The Fed’s New Twist,” the latest podcast produced by John B. Levy & Company, while financial policy coming out of Washington, DC, aims to influence, even spark economic activity, the Fed’s new strategy will have negligible impact on the commercial mortgage business. (Press Release)

Posted on 29 September 2011 by Laxman |  Email |Print

While U.S. real estate markets struggle to stabilize at significantly lower levels than the highs established in 2007, most Canadian markets continue to show strength and even make new highs.
At a critical juncture in U.S. politics where the country is more polarized than ever, it is interesting to note that a variety of government policies that are anything but free market seem to have played a large role in the significant outperformance of the Canadian real estate market and economy……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

Canada’s property market is cooling, but still stands out as one of the best performing in the developed world, according to a report by Scotia Economics.
Existing home prices rose 5% in the second quarter, the same pace as gains in the first quarter of the year, the bank’s Global Real Estate Report found. Figures for July and August point to stable sales and a levelling out of prices……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

Banks will sell about 15 billion euros ($20 billion) of loans secured by commercial property in Europe through 2012 as they anticipate tougher capital regulations, debt adviser Situs Cos. said.
British, German, Irish and Spanish banks will probably be the most active sellers of property loans, particularly those tied to peripheral markets or overseas, Situs said today in a statement. The Houston-based company has acted as an adviser on distressed loans in Europe, including sales by Credit Suisse Group AG from 2008 to 2010……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

According to research by Santander Mortgages, young people expect to be the most active over this period, with nearly half of 18 to 34-year olds saying that they intend to buy a new home in the next five years.
This compares to one in five 35 to 54 year-olds and just 12 per cent of those aged 55 or over. In the survey of 2,000 adults, 6 per cent said of the prospective homebuyers intend to enter the housing market in the next 12 months……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

The stock market turmoil has had a devastating impact on the pensions of those who are approaching retirement. A report from insurer LV= shows that 36% of over-50s still working say they will need to delay their retirement for financial reasons, and 16% would rather not think about their retirement finances at all.
House prices have also been falling, but two million over 50s - a third of retirees - are now relying on equity in their home to supplement their retirement income. They have been dubbed he HIPpies generation (’Home is Pension’). The number is up from 1.5 million people in 2010……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

Property prices in London are on the brink of an all-time high in defiance of the economic slowdown, official figures reveal. The average house rose 2.1 per cent in value in the year to August to reach £348,686 - less than one per cent below the record set in January 2008.
Every other UK region saw annual falls, according to data from the Land Registry, which unlike other surveys is based on final completion prices……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

The outlook is cloudier for Ireland’s residential property market than its commercial market due to its dependence on the real economy, the chief executive of the state-run National Asset Management Agency (NAMA) said on Wednesday.
“The outlook for the residential property market is more clouded than for the commercial market, not least because it is more closely linked with the real economy and the overall outlook for employment, net pay and interest rates,” Brendan McDonagh said in a speech……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

The slump in Spain’s property market showed no sign of improving in July as mortgage approvals fell to their lowest in at least eight years, though the beleaguered economy saw some respite from a solid tourist season, official data showed last week.
The number of mortgages approved in Spain’s once booming housing sector plunged 44.2% from a year earlier to 46,980 in July, the lowest since the data series began in 2003……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

In Dubai, searches for renting an apartment dropped 15%, whilst searches for renting a villa increased 17% when compared to the same period in 2010.
At the same time, properties priced under Dhs 100,000 witnessed a 30% spike in search interest, indicating that despite the swing towards villas, demand remains strong for affordable apartment rentals in Dubai……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

A report published this week suggests funds are now deploying capital already raised amid a global slowdown in equity-raising.
Capital available to invest in real estate in 2012 has fallen 4% from the end of last year to $316bn (€323bn), according to DTZ’s latest ‘Great Wall of Money’ report……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

China’s property tightening measures are starting to have an effect on its overheated real-estate sector, putting a cap on prices and pointing to a possible decline, the overseas edition of the People’s Daily said Wednesday.
In many cities, transaction volumes have fallen and developers have had to step up sales efforts. Prices of secondhand homes are also becoming more expensive than new homes, said the Communist Party’s flagship paper, citing these as signals that housing prices could fall……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

Commercial property developer SOHO China will be “actively buying” property over the next six months as it expects government measures to control soaring real estate prices to end within that period, its chief executive said on Wednesday.
Zhang Xin said she expects property prices in Shanghai and Beijing to “shoot through the roof” once the measures are lifted and that now was a good time to buy……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

Foreign investment in Australian commercial property jumped in the third quarter, drawn to high yields and low economic risks, CB Richard Ellis Group Inc. (CBG) said.
Overseas buyers accounted for 41 percent of the A$2.49 billion ($2.45 billion) in commercial properties sold in Australia in the three months ended Sept. 30, according to preliminary data from Los Angeles-based CB Richard Ellis……………………………………….Full Article: Source

Posted on 29 September 2011 by Laxman |  Email |Print

Foreign investors accounted for a third of commercial property transactions in Australia in the first nine months, the highest share in nearly two decades, with Asian investors stepping up their presence, data showed on Wednesday.
Offshore investors snapped up A$2.15 billion ($2.14 billion) of commercial real estate in Australia during the period, accounting for 33 percent of overall sales, the highest since 1994, property services firm CB Richard Ellis said on Wednesday……………………………………….Full Article: Source

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