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Real Estate Briefing 08.Nov 2011

Posted on 08 November 2011 by Laxman |  Email |Print

Matthew AndersonCommercial real-estate distress shows few signs of abating and continues to push U.S. banks to—or past—the brink of collapse. Troubled commercial real-estate loans accounted for more than 65% of problem loans among the 11 banks that failed in October.
While the number of failures was up month over month in October, the percentage of troubled commercial real-estate loans was lower, as the six banks that failed in September saw an 82% percentage of commercial loans among all problem loans………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

Economists remain guardedly optimistic about the state of the US property market in 2012, as the economy stages a slow but steady recovery. However, the real estate sector will grow “even with a modest recovery in demand”, according to Pramerica Real Estate Investors’ ‘US Quarterly Outlook’.
It added: “Projections for a strong recovery in commercial real estate have been scaled back, with near-term demand growth expected to be tepid at best.”……………………………………….Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

Home prices are highly seasonal, due to the different mix of homes that sell at different times of the year, but the latest reading for September shows home prices are under added pressure now; this is not just due to the high concentration of distressed properties on the market.
Prices fell 1.1% month to month, according to CoreLogic, both in seasonally adjusted and unadjusted terms. This is the second consecutive month of monthly drops, as we head into the slower fall season………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

U.S. home prices fell in September for a second month in a row, pressured by weak demand and cheap distressed sales, data analysis firm CoreLogic Inc said on Monday.
CoreLogic’s home price index slipped 1.1 percent from the month before. Compared to September of last year, prices were down 4.1 percent, though this was an improvement from the 4.4 percent year-over-year decline seen in August………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

Brazil has been highlighted as one of the top performing commercial real estate markets in the world at present in a new study. The Royal Institution of Chartered Surveyors (Rics) Global Commercial Property Survey for the third quarter of 2011 predicted that Brazil’s momentum will continue throughout the final quarter of this year.
According to the organisation, “rental and capital value expectations remain high”, while the picture for demand from investors looks strong, despite weakening slightly compared to the second quarter of 2011………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

British house prices could plunge 10pc in a “worst case” scenario arising from the eurozone debt crisis, the chief executive of housebuilder Taylor Wimpey warned. Pete Redfern, who heads up the UK’s second biggest home builder, said that a further escalation of the region’s debt problems threatens a UK banking crisis.
“The worse case scenario … is that a problem in Europe causes a UK banking problem,” he said. “While the underlying housing market is strong, if there was a withdrawal of banking finance obviously that would be negative.”……………………………………….Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

The number of houses sold in England and Wales reached an 18 month high in October as prices kept falling, a survey showed on Tuesday.
The Royal Institution of Chartered Surveyors’ seasonally adjusted house price balance declined to -24 percent from -23 percent in September, below analysts’ expectations of -23………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

Activity in the UK housing market showed some signs of picking up in October, according to the latest poll of surveyors. Sales and new buyer inquiries edged up compared with the previous month, the Royal Institution of Chartered Surveyors (Rics) said.
One theory from the industry was that sellers were becoming more realistic about pricing homes. However, the picture remained dark for first-time buyers’ prospects………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

House prices rose by 1.2% last month as the property market continues to weather the economic storm, mortgage lender the Halifax has said. The performance means the UK’s average property price of £163,311 is marginally higher than at the end of last year.
Halifax housing economist Martin Ellis said the prospect of low Bank of England interest rates continued to support the market………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

House prices jumped by 1.2% in October, but quarterly figures showed a downward trend, according to Halifax’s latest monthly snapshot of the housing market.
The lender said the average price of a UK home had risen for the first time in three months, to £163,311. However, this followed falls of 0.5% in September and 1.1% in August, and over the quarter prices dropped by 0.3%. This is the first time since June that the quarterly figure was negative………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

U.K. house prices increased in October for the first time in three months, according to Halifax, continuing what it said is a “highly mixed” picture of the property market.
Prices increased 1.2 percent from September, when they fell 0.3 percent, the mortgage unit of Lloyds Banking Group Plc (LLOY) said in a statement in London today. From a year earlier, values were down 0.6 percent to an average 163,311 pounds ($261,298)………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

The Eurozone crisis is doing nothing to subdue German buyers’ appetites for international property, says Quintessentially Estates. Despite the backdrop of economic uncertainty within the Eurozone, Quintessentially Estates has reported a surge in demand from German buyers.
Quintessentially Estates is currently instructed on search requirements in the order of 100 million Euros on behalf of German buyers………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

London has fallen one place in the rankings of Europe’s most attractive cities for real estate investment, according to a new report from one of the world’s leading global real estate investment managers.
In its latest annual European Regional Economic Growth Index (‘E-REGI’), LaSalle Investment Management reveals that medium-term demand for European real estate will remain highest in large city regions, as well as cities that boast strong fundamentals and high levels of wealth such as London, Paris and Munich………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

Office rents in the Asia-Pacific region increased at about double the global pace in the third quarter as China’s economic expansion fueled demand for commercial real estate, Jones Lang LaSalle Inc. said.
Rents for the highest-quality office space in the region increased 10.5 percent from a year earlier, the Chicago-based broker said yesterday in a report. That compared with a global growth rate of 5.5 percent………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

A decline in China’s property prices is picking up steam, suggesting Beijing has had some success in taming housing costs, while also raising concerns that prices could drop too far and fast when the rest of the world is relying on the country as an engine of growth.
House prices were flat or falling in a majority of China’s top cities, weekly data released Monday show. The weekly data, though volatile, add to evidence that housing prices are headed downward after years of consistent increases………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

The continued tightening measures of the government and the poor autumn sales volume have forced Chinese property developers to drop housing prices nationwide, which indicates that the market is moving closer to a turning point.
Official statistics shows that the housing inventory in China’s first-tier cities is increasing, which is a desired downward trend for private homebuyers………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

DTZ Research house is expecting a more cautious approach from investors towards property due to the current economic climate. High end properties in Kuala Lumpur could suffer from a downturn in prices if the property market struggles next year.
The last quarter saw 2,278 condominium units completed in Kuala Lumpur and 52 condominiums are expected to be completed by the end of the year. In 2012, about 5,384 units are expected to enter the market with about 92 per cent or 4,952 units located in the city centre………………………………………..Full Article: Source

Posted on 08 November 2011 by Laxman |  Email |Print

Spain, Portugal, Italy and Greece are locales that have had significant price drops, in part because of economic woes, but also because of overbuilding in some cases. With 25 percent unemployment in Spain and the removal of some legal roadblocks, there are some good opportunities there, provided you’re willing to pay cash, says Phillip White, president and chief executive officer of Sotheby’s International Realty Affiliates.
Specifically, White identifies parts of Spain on the Mediterranean side: Costa Brava, Minorca and the Balearic Islands………………………………………..Full Article: Source

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