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Real Estate Briefing 19.Oct 2011

Posted on 19 October 2011 by Laxman |  Email |Print

David CroweU.S. homebuilders are less pessimistic about the struggling housing market, but not enough to signal a recovery any time soon. The National Association of Home Builders said Tuesday that its index of builder sentiment this month rose from 14 to 18.
Any reading below 50 indicates negative sentiment about the housing market. It hasn’t reached 50 since April 2006, the peak of the housing boom. The index has been below 20 for all but one month during the past two years……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

Paul DalesIs low demand or poor supply the biggest cause for concern in the current housing market?
Of course, one of the biggest problems facing the U.S. housing market right now is that there aren’t enough buyers for homes. Mortgage rates are hovering near their lowest levels in most Americans’ adult lifetimes, but demand is anemic……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

If it’s not one thing, it’s another. Long blamed for much of the housing market’s woes, massive for-sale home inventories are now dwindling across the nation, The Wall Street Journal reports. Unfortunately, that doesn’t necessarily mean relief for the housing market, and instead calls attention to a host of other problems likely to keep a lid on any improvement.
Americans listed 2.19 million homes nationwide at the end of the September, a 20 percent drop compared to last ………………………………………Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

The dollar volume of New York City commercial-property sales fell 25 percent in the third quarter from a three-year high, Massey Knakal Realty Services said.
Deals totaled about $6.5 billion in the three months through September, down from $8.7 billion in the second quarter, according to a report by the brokerage. The report included transactions for offices, apartment buildings, hotels, retail properties and development sites across the five boroughs……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

It’s going to crash, it’s going to crash. How many times have we heard this about the Canadian housing market? Sometimes commentators use more tempered language to describe a predicted “pullback” or a market that is going to “moderate.” The problem is that outside of the 2008 recession, when prices corrected 10% followed by a boomerang recovery, it has not been true.
How do you are argue with almost 13 years of uninterrupted growth when the average sale price of a home in Canada has climbed from $152,365 in 1998 to $366,105 year to date in 2011……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

National real estate prices were up 6.5% in September compared to a year earlier, but the increase was the smallest year-over-year increase since January, according to a monthly report released this week by the Canadian Real Estate Association (CREA).
The average price in September reached $352,600, below record level heights reached earlier this year. The largest year-over-year gains were in Newfoundland and Labrador, up 14% to reach $262,481 in September. Regina was up 13.1% to an average home price of $272,295, while Vancouver, the most expensive market, was up 10.5% to reach $751,042……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

As sovereign wealth funds compete with overseas clients to buy up every square inch of London, real estate investors could be overlooking lucrative opportunities on the other side of the channel.
High quality residential and commercial property in the prime locations of Paris, Berlin and the Nordic countries can offer both capital growth and inflation-linked rental income. However, differences between the continental and Anglo-Saxon markets present both opportunities and traps for the unwary investor……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

The economic catastrophe that Europe is facinghasn’t put a damper on British buyer’s enthusiasm to purchase property on the Continent. Accordingto World First,the expert on currency exchange, holiday home purchase sales in Spain have morethan doubled over the summer.
Italy, Greece and Bulgaria are also places ofinterest to British buyers who are in search of a bargain. However, no matterthe location, buyers should heed to the same advice and do your research toavoid any pitfalls……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

Germany’s top five office markets of Berlin, Düsseldorf, Frankfurt, Hamburg and Munich have recorded a 2.02 million m² take up in the first three quarters of 2011, reflecting a 9% year-on-year increase. According to Savills research, vacancies have dropped marginally during Q3 11 and prime rents have risen slightly.
Robert Kellershohn, Managing Director Office Agency at Savills Germany says: “The German office markets continued to recover throughout Q3 which is reflected in the changes in both prime rental values and vacancies……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

Spain’s property bust is only getting worse. The wonder is that the country’s economy and banks are still this resilient.
The Spanish government said Tuesday that housing prices remained in free-fall in the third quarter, dropping 5.5% from a year earlier, the biggest decline since 2009……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

Marta Andreasen MEP has claimed Spain’s secretary for housing ‘is in denial’ regarding the severity of the problems affecting British expats who have invested in Spanish property, following a heated exchange at an international property exhibition in London.
The argument took place following a speech delivered last week by the Spanish housing secretary Beatriz Corredor, who called for Britons to trust in Spain and to take advantage of its ripe property market……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

For many people, buying a house will be the most significant transaction of their lives; in fact, most people regard their home as their most important asset, even though, unlike a true asset, a house does not generate income unless you rent it out, and you can probably do better by renting a small place and putting your money in the market.
The point here is that home ownership is a big deal – it’s important to people, and to politicians, who like it because it helps create stable, healthy societies (which is why they often adjust interest rates downward to try and encourage people to buy houses as well as to spend, and why they build free houses for the poor)……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

Andrew Parsons, senior portfolio manager with Resolution Capital, on the state of the market in the Asia Pacific region that one of the biggest issues is corporate governance and matching the needs of investors with a board that can meet those particular needs.
Parsons outlook for the region is positive. He added that the balance sheets of the Asian and Australian REITs are strong. However, the adoption of REIT rules in the global real estate investment market is a work in progress, according to Parsons……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

The leasing of office spaces fell 38 per cent in July-September at over 5 million sq ft in seven major Indian cities over the previous quarter due to the uncertain global economic environment, according to property consultant CB Richard Ellis (CBRE).
“Over 5 million sq.ft. of office space has been absorbed between July and September 2011 compared to 8 million sq ft in Q2, 2011,” CBRE said in a statement……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

More cities reported a slowdown in year-on-year increases in property prices in September as a result of government’s tightening efforts to cool the market, the National Bureau of Statistics (NBS) said Tuesday.
“The rapid growth in property prices has been markedly contained, as prices in some cities begin to retreat,” NBS spokesman Sheng Laiyun said………………………………………Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

More Japanese property companies may file for bankruptcy in 2012 as banks become more selective to improve their balance sheets as the outlook in the U.S. and Europe deteriorates, Tokyo Shoko Research Ltd. said.
About 500 real estate companies may go under next year, up from about 450 this year, according to estimates by Nobuo Tomoda, executive director at Tokyo Shoko. A total of 441 went bankrupt in 2010, the data showed. The Topix Real Estate Index fell the most in more than three weeks……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

Australian retail property values and rents are expected to fall over the coming year as slumping business sentiment and weak consumer confidence weighs on demand, a National Australia Bank Ltd. (NAB) survey showed.
Retail property values will lose 1.3 percent by September 2012, and rental returns will drop by 0.9 percent, the survey found. That compares with expectations of a 1 percent gain in office values and a flat outlook for industrial properties, according to the report……………………………………….Full Article: Source

Posted on 19 October 2011 by Laxman |  Email |Print

Global transaction volumes for real estate totalled US$99 billion in the third quarter of 2011, according to new figures from Jones Lang LaSalle. The number represents a 36 per cent increase compared to the same period last year.
Investment activity increased 43 per cent with total transaction volume reaching US$297 billion in the first three quarters compared to US$208 billion in during the same period last year……………………………………….Full Article: Source

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