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Real Estate Briefing 07.Nov 2011

Posted on 07 November 2011 by Laxman |  Email |Print

It’s almost six years since the air started to leak, then gush, out of the US housing market, and the best one can say is that residential real estate is bouncing along the bottom.
Almost every housing indicator, from starts to sales to prices, has been flat-lining for three years. Various government initiatives, including a first-time-homebuyer tax credit, gave home sales a temporary boost in 2009 and 2010. But just as water seeks its own level, home prices are still seeking theirs………………………………………..Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

California has gone to extremes to improve the state’s air quality, pushing out coal-fired power plants and implementing the strictest auto emissions standards in the nation. L.A.’s persistent smog layer may be a shadow of its former self, but it hasn’t been enough. Lots of people and too many cars means California still has seven big cities that rank among the 20 most polluted in the nation.
L.A. ranks No. 2 on our list of America’s Dirtiest Cities, and San Diego is no. 9, but some of the worst air in the country is in smaller cities in the San Joaquin Valley, where a ring of mountains traps a stagnant stew of ozone and particulate matter………………………………………..Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

Ongoing economic uncertainty further weakened commercial real estate markets around the world during the third quarter of this year, with usually strong performers such as France starting to falter, according to the latest RICS Global Commercial Property Survey.
The report indicates that negative sentiment spread across the globe, with more than half of the countries surveyed reporting falling tenant demand and rising supply during the third quarter. Again, China continues to be the star performer, while Russia, Germany, Poland and the Czech Republic also recorded largely positive results………………………………………..Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

Slow economic performance in the UK has been passed on to values in the commercial property sector through declining occupier demand, according to the Q3 IPD UK Quarterly Property Index. At the all property level capital growth slowed to just 0.3% and total return to 1.8%.
The stagnating economy, increasing inflation, austerity measures and general uncertainty about the UK’s ability to avoid recession have all led to rental growth tailing off in the third quarter to just 0.1%, while straying further into negative territory for both the retail and industrial sectors, -0.2% for both. ……………………………………….Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

The first speculative industrial development to be started in Slovakia since before the financial crisis has been announced. Karimpol, the leading CEE commercial real estate developer, has started the next phase of their highly successful Bratislava Logistics Park in Senec, near Bratislava Slovakia.
The new building offers 37,000 m² of the highest quality modern logistics, warehousing and light industrial space………………………………………..Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

While Dubai’s rents recently fell as much as 11 per cent, Abu Dhabi has seen rates declining on average by six per cent as of the third quarter. The cheapest one-bedroom flats, costing between Dh30,000 and Dh40,000, can be found in Abu Dhabi’s off-island locations, Khalifa Cities A and B and Mohammad Bin Zayed (MBZ) City in Mussafah, but they are in low-quality buildings.
For those looking for prime properties, the cheapest one-bedroom flats cost anywhere between Dh40,000 and Dh50,000 and can be found in Khalifa A and B as well………………………………………..Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

As residential and commercial transactions dip and developers desperately search for private equity and debt to fund projects and repay loans, global property consultancies are building up their capital transactions/corporate finance teams in India.
These teams help developers source debt, private equity and structured debt, which has features of both debt and equity………………………………………..Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

As states across the country seek to align their benchmark rates — the minimum rate below which a property can’t be bought or sold — with the market rate, citing their intent to curb black money, property prices are touching the sky. In the process, middle income groups are pushed to areas which bridge the periphery and the main city.
And the periphery is moving further away for those looking to buy a home. This underscores the urban-rural divide, and creates class divisions within urban agglomerates………………………………………..Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

It’s a “different kind” of housing bubble in China, and it is popping slowly in most cities, with the exception of Shanghai, mainland China’s most expensive. According to a feature published in China Daily on Saturday, home sales and home prices are on the decline.
Chang Zhi, chief analyst of Century 21 China Real Estate, told the paper that he expects more real estate companies in the second- and third- tier cities to follow in the footsteps of the big realtors and cut real estate prices under the current policy………………………………………..Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

Demand for luxury residential properties is expected to turn cautious, given greater economic uncertainties and a tightening of credit by banks, DTZ Research said in its latest Property Times market report.
In the report for Kuala Lumpur for the third quarter, the research house said there would be an increasing downside risk on prices at the higher end of the market if the conditions got worse next year………………………………………..Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

Property analysts are calling for the establishment of real estate investment trust funds (REITs), saying they would yields practical benefits to the market and investors. Like other funds, REITs can be publicly traded or privately held. Public REITs may be listed on exchanges like shares.
A senior World Bank expert said REITs were an effective channel for investment, development, and management of earnings from real estate, hotels, apartments, and other property………………………………………..Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

Taiwan’s housing market remained sluggish last month as new construction volume and value fell 20 percent and 40 percent respectively from September on deepening uncertainty as the presidential election draws near and the global economy falters, a report by the Chinese–language Housing Monthly showed last week.
The monthly report flashed a “yellow-blue” signal for home sales, indicating that the market is at risk of recession in the coming months………………………………………..Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

A gauge of Australian construction showed the building industry contracted at a slower pace last month on signs that new orders and hiring improved.
The construction performance index rose to 34.7 in October from 30 a month earlier, which was the weakest reading since February 2009, a survey by the Australian Industry Group and the Housing Industry Association released in Sydney today showed. The result was the 17th consecutive month under 50, the dividing line between expansion and contraction………………………………………..Full Article: Source

Posted on 07 November 2011 by Laxman |  Email |Print

While real estate investment trust investors have something to look forward to as the companies they own look to return to positive earnings after a weak quarter, the companies themselves are facing uncertain futures as the economy struggles for growth.
Dozens of REITs will report their third quarter results in the coming weeks, and RBC Dominion Securities Inc. analyst Neil Downey said the companies should “mark a return to positive territory” after slipping back over the summer………………………………………..Full Article: Source

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