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Real Estate Briefing 31.Oct 2011

Posted on 31 October 2011 by Laxman |  Email |Print

Edward DeMarcoThe nation’s top housing-finance regulator pushed back against criticism that he isn’t doing enough to help the troubled U.S. housing markets, saying that critics were asking him to do the bidding of Congress.
Edward DeMarco, acting director of the Federal Housing Finance Agency, made the comments days after his office unveiled a major overhaul of a program to refinance mortgages that are underwater. The program is open for loans backed by Fannie Mae and Freddie Mac, which is regulated by the FHFA………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

Despite the deepening of the debt crisis, European property investment markets saw trading volumes rise in Q3 to EUR 28.8 bn, according to the latest research from Cushman & Wakefield. The figure represents a 5% increase on the previous quarter and a 12.3% rise on the year-to-date.
‘Momentum has definitely slowed but values are stable and the market overall has held up well, particularly when you compare it with other asset classes,’ said Michael Rhydderch, head of the European Capital Markets Group at C&W………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

U.K. house prices dropped for a sixth month in October and a slowdown in London’s housing market will cause the pace of decline to accelerate in the coming months, property researcher Hometrack Ltd. said.
The average cost of a home fell 0.2 percent from September and was down 2.8 percent from a year earlier, the London-based company said today in an e-mailed report on its monthly survey of real-estate agents. Prices based on Hometrack’s gauge have fallen every month except one since July 2010………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

House price falls accelerated this month as demand fell back with consumers concerned about the economy, a report from property analyst Hometrack has found.
The price of a typical home dropped by 0.2% in October, compared with falls of 0.1% over each of the previous five months, while average growth is down by 2.8% on the previous year………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

The number of commercial investment properties being brought to the market in Europe has increased since the end of the summer, with £6.5 bn (EUR 7.4 bn) of offices for sale in Central London alone, according to the latest report from global property adviser CBRE.
While more property is being offered for sale across Europe, the trend is most obvious in Paris and London………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

Moscow commercial real estate has been named the most attractive and desirable in Europe on the 13th LaSalle Investment Management’s European Regional Economic Growth Index.
The Russian capital clinched first place due its size and great growth potential on the list, which contains cities where demand for real estate is likely to be highest in the medium term………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

The real estate market in the UAE appears to have bottomed out, according to the Institute of International Finance (IIF). “The real estate market in the UAE appears to have bottomed out, and significant progress has been made in corporate restructuring and in governance. The main catalyst of the projected solid growth next year is the expected turnaround in the real estate market,” the Washington-based institute said.
Real estate residential prices in Dubai and Abu Dhabi have dropped by about 60 per cent and 50 per cent, respectively, since their peak in 2008, IIF believes that data for the first three quarters of 2011 suggests that the market may have reached its bottom………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

The UAE’s move to grant three-year residency visas to owners of property worth more than AED1m may have been pushed to the back burner amid doubts it will succeed in spurring fresh activity in Dubai’s housing market.
The UAE government said in June it would replace visas that require renewal every six months for some homeowners, but the decision appears to have made little progress in the months since………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

Indian tycoon Mukesh Ambani is deepening his foray into Kenya’s real estate market with a series of office and residential property developments that have already earned him an estimated Sh2.5 billion in profits, barely three years after his first investment in the country.
Ambani, through Delta Corporation East Africa – a local subsidiary of his Indian conglomerate Reliance Industries – is currently constructing multi-billion shilling office towers in Nairobi’s Upper Hill and Westlands areas………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

The Supreme Court ruling banning real estate transactions on the basis of power of attorney and making sale deed compulsory for property sale is a welcome step that will make secondary market transactions fool-proof.
It will check the evasion of stamp duty and black money dealings no doubt. But there is still an urgent need for an overall reform of real estate that is facing a credibility crisis among consumers and investors alike………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

China will “firmly” maintain its property curbs and “fine tune” other economic policies at an appropriate time, according to a statement following a State Council meeting chaired by Premier Wen Jiabao.
Local authorities should continue to strictly implement the central government’s real-estate policies in the coming months to let the citizens see the results of the curbs, according to the statement on Oct. 29. The government will “fine tune” its economic policies by “an appropriate degree and at an appropriate time,” it said………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

When dealing with China, action can often speak louder than official numbers, especially when that action involves protests.
Last year, an outbreak of strikes by workers demanding higher wages due to surging living costs told that China had a serious inflation problem, long before authorities began hiking interest rates………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

Amid soaring property prices, making private homes increasingly less affordable, fingers are pointing at foreigners for causing the Singaporean dream home to be out of reach. Some have written to the press, asking for government intervention to restrict foreign buying.
But a recent data report put the purchasing breakdown for private homes at roughly 20 per cent for foreigners, 12 percent permanent residents and the rest, mainly HDB upgraders………………………………………..Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

Australian capital city house prices continued to fall in September, though the previously sliding Brisbane market experienced a bounce back, property analysts RP Data-Rismark said Monday.
The RP Data-Rismark Hedonic Home Value Index recorded a seasonally adjusted fall of 0.2% in capital city home values over September, taking the fall in prices over the first nine months of the year to 3.6……………………………………….Full Article: Source

Posted on 31 October 2011 by Laxman |  Email |Print

Non-listed REITs (“nREITs”) typically invest in commercial real estate assets, and today’s nREIT offerings provide a diversity of commercial real estate investment opportunities.
Commercial real estate investments can be differentiated by their investment risk strategy and their commercial real estate sector focus. Investors should understand these two aspects of a nREIT’s overall investment strategy to properly assess the risks of investing in a given nREIT………………………………………..Full Article: Source

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