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Real Estate Briefing 02.Nov 2011

Posted on 02 November 2011 by Laxman |  Email |Print

Christopher LowConstruction spending in the U.S. rose in September for as second month as gains in private projects outpaced a drop in government outlays.
Building outlays increased 0.2 percent after jumping 1.6 percent in August, Commerce Department figures showed today in Washington. The median estimate of economists in a Bloomberg survey called for a 0.3 percent gain………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

Ben S. BernankeFederal Reserve Chairman Ben S. Bernanke can’t go it alone when it comes to reviving the U.S. housing market.
Fed policy makers, who started a two-day meeting today, are considering buying mortgage-backed securities to push down borrowing costs and help homeowners refinance their debt. That would reduce monthly payments, freeing up cash for other purchases that could spur the economy and reduce unemployment, Fed Governor Daniel Tarullo said Oct. 20………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

Zillow Inc. said its real-time rate on 30-year fixed mortgages fell in the last week to 3.82%, taking a particular tumble on Tuesday morning as jittery investors sought solace in Treasurys.
The real-estate website said the 30-year fixed mortgage rate on its Mortgage Marketplace is at 3.82%, down from 3.95% a week earlier. The company said the rate peaked on Friday at 4.1%, then hovered between 4% and 3.95% before falling to the current rate early Tuesday morning………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

Canadian real estate professionals are increasingly anxious about the sector’s prospects over the next year, as a sector that has led the country’s economic recovery shows signs of slowing along with the broader world economy.
Canadian respondents to an annual PricewaterhouseCooper survey worried the job market would slow, leading to weakening confidence in the country’s housing sector. Meanwhile, commercial deal flow could be constrained as buyers find the market stalled by lack of willing sellers………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

European property deals in 2011 will likely near 140 billion euros (122.3 billion pounds) in total value, the highest since 2008, driven up by a string of big-ticket shopping centre deals against a bleak economic backcloth, research showed.
Real Capital Analytics said transaction volumes in the nine months to end-September totalled 95 billion euros, up 21 percent on the year-earlier same period, and dominated by deals in the German and Central European markets………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

Overall leasing volumes continued to improve over the third quarter of 2011 despite variations in prime offices rents, according to JLL’s latest European Office Clock Report.
Prime rents increased over the last quarter in Stockholm, The Hague (both +2.4%), Hamburg (+2.2%) and Milan (+1.9%), although these were offset by decreases in Brussels (-3.2%), Dublin (-3.0%), Madrid (-1.9%) and Edinburgh (-1.8%)………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

Lending to the real estate sector remains as tight as seen in the period immediately after the Lehman Brothers collapse, say Jones Lang LaSalle.
Lending to real estate has dropped to £188 billion (approx. €218 billion); a 22% decrease on levels seen a year ago as shown in the latest Bank of England quarterly lending figures. UK bank exposure to real estate (i.e. the proportion of lending to real estate as a percentage of total lending) remained static at 9% from Q1 2011………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

European property stocks may have ended October on an upbeat note, but volatility is expected to remain a key feature of the listed real estate market in the coming period in line with the broader economic sentiment, according to Joël Gorselé, an analyst at Petercam in Brussels.
On Tuesday, European stockmarkets nosedived following the surprise announcement by Greek prime minister George Papandreou to hold a referendum on the euro rescue plan brokered last week………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

The housing market remains “subdued” despite prices rising by 0.4% last month, Nationwide has warned. The average house price in October was £165,650, the building society said, which reflected a 0.8% increase on prices a year ago.
Robert Gardner, Nationwide’s chief economist, said the data was encouraging but did not change the picture of a market that is “treading water”. He said: “The outlook remains uncertain but, with the UK economic recovery expected to remain sluggish, house price growth is likely to remain soft in the period ahead, with prices moving sideways or drifting modestly lower over the next 12 months.”……………………………………….Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

CB Richard Ellis (CBRE) has completed the acquisition of ING Real Estate Investment Management (ING REIM) Europe, marking the final stage of CBRE’s absorption of ING’s real estate business.
CBRE has acquired ING REIM Europe for $540m, bringing the total sale value of the various real estate businesses to approximately $940m. ING agreed to sell all three ING REIM businesses to CBRE in the first quarter of 2011. CBRE purchased Clarion Real Estate Securities (CRES) on 1 July and ING REIM’s Asian business on 3 October……………………………………….Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

The charming semi-detached house is perfect for a family: spacious with a beautiful view of the city, lake and surrounding mountains. The problem is that very few households can afford this 200 square-metre home in Zurich, which has a rather robust asking price of 5.6 million Swiss francs ($6.39-million Canadian).
Welcome to the exorbitant world of Swiss real estate, where the median price for a family house is now 1.93 million francs in Zurich and 2.34 million francs in Geneva, according to a recent report from real-estate consultancy firm Wuest & Partner. The firm says the median price for a house across Switzerland is 780,000 francs ($887,000)………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

Amidst high volatility on global markets various resident groups based in the countries of the Gulf Cooperation Council (GCC) have strong home market bias in their investment allocations, according to a recent study by Invesco Middle East Asset Management.
The study shows Gulf investors have relatively short investment horizons and prefer to keep their money in markets that are most familiar to them………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

According to global real estate firm Jones Lang LaSalle, the changing face of the region - urbanisation, population growth, output of commodities and manufactured goods and cost competitiveness in the services sector - are the main economic drivers for Asia Pacific to continue to outperform other regions.
Capital inflows from Asia and other regions will continue to also propel the Australian commercial market in 2012. The strong economic drivers in the Asia Pacific region are expected to continue to keep fuelling commercial property markets across the region, supported by growth in consumer spending as well as increasing urbanisation and corresponding housing needs………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

Most large Asian real estate funds and companies rely on European banks for only a small proportion of their borrowings and are hence not vulnerable to a pullback in lending resulting from turmoil in the euro zone, a regional real estate body said on Tuesday.
The Asia Pacific Real Estate Association (APREA) said a recent survey of 100 members showed a significant majority have no European bank debt at all………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

What does a meltdown in China’s economy look like? It starts in the property sector, the main domestic growth driver. Government controls on speculators have already started to bring residential property prices down.
National average prices for residential property fell 0.23% month-to-month in October, the second month in a row of falling prices, according to data released Tuesday by the China Real Estate Index System. If buyers who are used to prices moving only upward adopt a wait-and-see attitude, then sales volumes will fall. Sales so far this year have been robust, up 12% year-to-year in the first nine months………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

Residential property prices in 100 major cities in China fell 0.23% in October from the previous month, the biggest decline this year and following a 0.03% on-month slide in September, China Real Estate Index System said Tuesday.
The data provider said a survey of property developers and real-estate agencies showed the average home price in October was lower at CNY8,856 a square meter from CNY8,877 in September and CNY8,880 in August. The survey, which the company compiles together with online real-estate brokerage SouFun Holdings Ltd., is watched widely since China scrapped a national property price index in January……………………………………….Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

Hong Kong’s residential property prices would drop by 35 percent to 45 percent over the next two years in the “hard landing” scenario of a deflationary economic environment, Barclays Capital Research said.
In a “soft landing,” continued mortgage rate increases and a slowing economy would drive prices 25 percent to 30 percent lower over 2012 and 2013, Andrew Lawrence and Vivien Chan, analysts at Barclays, wrote in a ……………………………………….Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

Vietnam is hoping to attract more foreign investors into its property market in the coming years. The country is currently in a downturn and did not live up to the expectations placed on it a few years ago when it was seen by international real estate firms as an emerging market with a low-cost labour force.
The growth of the real estate market in Vietnam was between 2005 and 2009. Commercial real estate firm Colliers International research director Naim Khan-Turk explains why the boom in real estate happened at that time………………………………………..Full Article: Source

Posted on 02 November 2011 by Laxman |  Email |Print

House prices in Brisbane and Perth are tipped to be the most likely to lift on the back of yesterday’s cut in the official rate by the Reserve Bank.
Jason Anderson, NSW economics manager for researcher MacroPlan Australia, said while Sydneysiders had the largest mortgages, Perth and Brisbane home owners would proportionally be the greatest beneficiaries from the 25-basis-point cut. This was because both markets had been the weakest of all the state capitals in the past year………………………………………..Full Article: Source

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