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Real Estate Briefing 30.Sep 2011

Posted on 30 September 2011 by Laxman |  Email |Print

Alan PardeeReal estate investors are likely to stick with private equity managers with proven track records, leaving first-time funds in an uphill battle to raise funds, according to alternative asset research firm Preqin.
About 48 percent of investors worldwide said they would not invest with first-time managers, up from just over a third 12 months ago, reflecting growing caution among investors, according to the report released on Wednesday……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

Ryan SweetThe number of contracts to purchase previously owned U.S. homes fell in August, a sign that lower prices and borrowing costs are doing little to stoke demand.
The 1.2 percent decrease in the index of pending home sales followed a 1.3 percent drop the previous month, the National Association of Realtors said today in Washington. Economists forecast a 2 percent drop, according to the median of 43 estimates in a Bloomberg News survey……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

Michael Finger writes: Thanks to a series of destructive government policies and incentives, a health care crisis has been steadily building in America for a generation or two. But the release yesterday of the Kaiser Family Foundation’s annual survey reveals that the problem of unaffordable healthcare is becoming epidemic.
According to the report, health insurance premiums have jumped nearly 10% in 2011 for the typical family, compared to a 3% increase in 2010. The average annual cost for family health insurance now exceeds $15,000 per year, about 30% of median household income!………………………………………Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

Long gone are the days when we could make a few thousand bucks flipping abodes within weeks, and the end result is still viewed as yet another bubble that got pricked. But the problem is that it wasn’t another garden variety excess like the dot.com, and ultimately housing holds the key to economic stability.
Unlike other bubbles, many more people had a vested interest in their houses, and not everyone was affected by the stock bubble of the late 90s……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

In a market where the housing bust has rippled through all price points, few entertainers, athletes, business tycoons or other well-heeled sellers are willing to share details about their pains or gains.
But nowhere are the price cuts sharper — or more visible — than in the super and ultra-luxury markets, where prices, depending on location, range from the $15 million to $50 million-plus……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

Jonathan Miller, chief executive officer of Miller Samuel Inc., talks about record-low U.S. mortgage rates and the need for incentives to boost the housing market.
The average rate for a 30-year fixed loan dropped to 4.01 percent in the week ended today from 4.09 percent, Freddie Mac said today. The number of contracts to purchase previously owned U.S. homes fell 1.2 percent in August, the National Association of Realtors said……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

The S&P Indices/Case Shiller recorded a fourth consecutive month of increases. Existing home sales jumped in the latest report. Low-rate mortgages have boosted affordability measures. Is it time for investors to start looking for real estate?
After a five-year slide from the price peak reached in 2006 is it finally time for the housing market to rebound? Not for single-family homes, which are still being jack hammered by foreclosures and unemployment, analysts say. And not for home builders, whose stocks remain deeply depressed……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

The outlook for the United States residential property market is still gloomy despite some local real estate markets performing well, according to new research.
Five years after the peak of the market prices are still not rising overall, with a projected increase of just 1.1% for 2011, the research report from MacroMarkets shows……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

Housing sales and prices should remain fairly steady into next year, as a slowing economy is balanced by low mortgage rates and relatively low unemployment, a report issued Friday by BMO Capital Markets suggests.
“Low interest rates have fuelled Canada’s housing market in the past decade, pushing prices to new highs in most regions,” said senior economist Sal Guatieri. “However, a weaker economy and new mortgage rules have dimmed activity recently.”………………………………………Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

U.K. house prices were little changed in September and “downside risks” to the property market have increased as economic prospects weaken, Nationwide Building Society said.
The average cost of a home rose 0.1 percent from August to 166,256 pounds ($260,000), the Swindon, England-based customer- owned lender said in an e-mailed report today. From a year earlier, values were down 0.3 percent………………………………………Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

The Irish state-run agency responsible for winding down billions of euros of bad property loans says it has received strong expressions of interest in Irish commercial property, particularly from foreign investors.
There has been “strong indicative interest” from investors in the sector, the chief executive of Ireland’s state-run National Asset Management Agency Brendan McDonagh said on Thursday……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

Kuwait Finance House (KFH) Acting CEO Emad Al-Thaqeb stated during an interview with CNBC Arabia that despite the negative impact of the global financial crisis on the Kuwaiti real estate sector, this impact remains less profound compared to the markets of other countries.
He added that the real estate sector is still capable of attracting low risk investments, and predicted that the real estate will be part of major developmental projects, whether directly or indirectly……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

Thriving real estate markets across Indian cities offer enormous potential in terms of market research and data collection. And yet there is no real data that homebuyers can fall back on in order to compare prices.
With the real estate market primarily in the hands of large as well as small brokers, even data provided by the three property indices in India are only indicative and don’t really give the real picture……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

Faced with a sharp decline in home sales and declining cash flows, property developers are doling out minor discounts and freebies to boost home sales during the ongoing festive season. Mumbai-based property developer Sunil Mantri Group is providing ‘extra cheer’ to its buyers.
Under its offer ‘Mantri Mahotsav’, it promises cash discounts or freebies ranging from Rs 30,000 to Rs 100,000 across its housing projects in Mumbai, Bangalore and other cities……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

The Chinese central government’s sustained tough control measures on its property market appear to be paying off, according to the latest statistics. The rising housing prices in many Chinese cities have been greatly curbed, and signs of lower housing prices have appeared.
Transaction volumes fall, home prices stop rising. In many cities, developers have stepped up sales efforts, and transaction volumes have fallen. Secondhand homes are becoming more expensive than new homes. These three signals indicate that housing prices could fall……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

Hang Lung Properties Ltd. and CapitaMalls Asia Ltd. have announced plans to build new shopping malls in China, underscoring their confidence in the country’s growing luxury consumer market.
Hang Lung, the Hong Kong developer that’s building high-end shopping centers in other parts of China, and its parent bought two sites in Kunming in the southwest for 3.5 billion yuan ($547 million), it said in a stock exchange filing yesterday……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

Hong Kong Financial Secretary John Tsang predicted a “soft landing” for the real estate market and said the city will keep its currency peg to the dollar, blamed for helping drive home prices up about 70 per cent.
“There have been ups and downs but the peg has come through for us,” Tsang said in Chicago. As for the property market, “transactions have fallen and prices are starting to trend down slowly,” he said……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

The market for mid-priced condominiums near, but not on, the beach has been active in Phuket since last year, with more affordable units aimed at buyers from Asian countries who have replaced Western buyers.
Risinee Sarikaputra, an associate director for research and valuation at the property consultant Knight Frank Chartered (Thailand) Co, says the emerging buyers are Indian and Chinese expatriates working in Singapore and Hong Kong, as well as Middle Easterners……………………………………….Full Article: Source

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Posted on 30 September 2011 by Laxman |  Email |Print

Sending money to Australia may be necessary for investors keen to get on the country’s property market, which has been described as “tough” by one expert.
Tom Blackett, spokesman for the Australian Visa Bureau, explained how housing prices Down Under have been steadily rising for almost a decade, which means it is not always easy to find a bargain home……………………………………….Full Article: Source

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