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Real Estate Briefing 15.Nov 2011

Posted on 15 November 2011 by Laxman |  Email |Print

U.S. home prices will probably decline an additional 6 percent to 8 percent before bottoming, Pacific Investment Management Co.’s Scott Simon said.

Potential home buyers are being kept on the sidelines by policy makers tightening rules for government-backed loans and banks being more restrictive than required by Fannie Mae, Freddie Mac and the Federal Housing Administration, Simon said in a radio interview on “Bloomberg Surveillance” with Tom Keene from Pimco’s headquarters in Newport Beach, California………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

Protecting the value of your home has been like trying to hold water in a sieve over the past five years. It is no secret that the housing slump has had a significant negative impact on the economy, given its historical contribution to GDP.
In fact, according to the National Association of Home Builders, housing (both residential investment and housing services) contributes roughly seventeen percent on average to U.S. GDP. Most people think housing prices are going to continue to deteriorate………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

In the last few months a number of interesting trends have emerged that point to the rise of the US real estate market as an attractive destination for international investors, and quite significantly wealthy Indian investors. According to a recent survey by the National Association of Realtors USA, for the 12 month period ending March 2011, foreigners purchased close to 4% of homes in the US. Of this, Indian buyers accounted for 7%.

Recent data released by the Reserve Bank of India on the pace of overseas remittances by wealthy Indians under the Liberalised Remittance Scheme seems to concur with that trend……………………………………….Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

When most of us hear “The Kennedys,” we think of America’s most prominent, if beleaguered, political family. Whatever you think about their politics or private lives, you’ve got to be impressed with how the family has managed intergenerational wealth. Deep down, we all want to invest like a Kennedy.
Real estate is an important component of any balanced high net worth portfolio and has many positive attributes, both behavioural and practical. Unlike equities and public markets, commercial real estate valuations are made infrequently; there’s no daily price volatility as there is feeding the fervor of stock watching and market timing. Also, returns are inflation adjusted, as rents can potentially keep pace with inflation………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

U .S. home prices are set to fall further. There is nothing policymakers can do to forestall this, but there are things they can do to mitigate the severity of the decline. With Europe in disarray, the supercommittee struggling to reduce the federal deficit and a payroll tax increase looming next year, help for the housing industry could make the difference between a continued economic recovery and a double-dip recession.

House prices are currently being driven by distressed home sales — foreclosure and short sales. About a third of home sales nationwide involve distressed properties, an astounding figure………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

Volatile stock markets and minuscule returns from fixed income have investors looking at global real estate. But rather than single-family residential property, the hot ticket these days is multiple-family dwellings.

At a luncheon for financial analysts with the Edmonton CFA Society, Eric Bonnor, senior vice-president with Brookfield Asset Management in Toronto, quoted from the publication Emerging Trends in Real Estate 2012, a survey of 950 real estate executives by the accounting firm PricewaterhouseCoopers and the Urban Land Institute………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

Argentine real estate transactions have ground to a halt since the government imposed strict limits on the ability of people to acquire U.S. dollars two weeks ago, industry officials say.

Though the market is small, some fear that if the problem persists it could affect the construction industry in general and have a broader impact on economic growth………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

Europe’s prime high streets remained resilient between the first and third quarter of this year, with the majority of markets reporting stable prime rents, according to new research released by Colliers International.

Almost a dozen of the markets surveyed even reported some growth, with notable increases seen in Oslo and Riga of 7% and 10% respectively. Conversely, Athens and Sofia saw sharp falls with prime high street rents down 17% and 15% respectively, Colliers’ biannual EMEA Retail Rents Map shows………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

Growth in UK commercial property values was flat in October at 0.0 percent, from 0.1 percent in September, with continuing uncertainty in the euro zone crisis weighing on investor sentiment, Investment Property Databank (IPD) said.

IPD said 27 months of non-negative capital growth had seen UK commercial real estate values rise by 17.8 percent. They fell about 45 percent during the global financial meltdown………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

U.K. commercial real estate prices failed to rise for the first time in more than two years in October as Europe’s sovereign-debt crisis sapped investors’ confidence, Investment Property Databank Ltd. said.

There was no change in values in October compared with the previous month, the first time that’s happened since August 2009, IPD said in a statement today. The annual growth rate remained at 1.7 percent………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

Based on the recent Central London property market review from CB Richard Ellis (CBRE), it would appear property owners and investors are still keen to invest in London-based commercial property.

CBRE’s report showed that office take-up in Central London rose to 2.7 million square feet during the third quarter of 2011, the strongest performance of the year to date………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

When it comes to fears of financial instability, most wealthy Germans are eager to put away their money safely to avoid losses. One of the most popular investment possibilities is the nation’s hot real estate market.
“German brick is the new dollar” is how the experts describe the onslaught of investors on the German property market………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

The Norwegian Government Pension Fund Global will scout larger deals than previously in a bid to meet its 5% real estate allocation target, according to Øystein Sjølie, a spokesman at Norges Bank Investment Management, which manages the NOK3trn (€388bn) oil fund.

His comments follow the announcement that the fund would acquire a €290m three-asset prime Paris office portfolio from SEB ImmoInvest by the end of the year – its second deal via a joint venture with AXA Real Estate, which will manage both portfolios………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

Construction activity in Poland’s retail real estate segment continues to be high, with the country poised to become a European leader in the near future in terms of provision of shopping center space. As the density ratio in Poland remains just above the European average, the market still has considerable growth potential, experts say.

The Polish retail property market is currently one of the three fastest-growing in Europe with only Russia and Turkey expected to have a larger amount of new retil space delivered within the next few years, a recent report by Jones Lang LaSalle has found………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

The global financial crisis that also affected the activity of the real estate market in Azerbaijan has led to serious growth of the exposition period. Nusret Ibrahimov, general director of consulting company MBA Group, says that exposition term at the primary housing market grew by 9.82% versus the 2008 index and at the secondary market by 10.93%.

“Exposition term at the primary housing market was 112 days in 2008, 143 days in 2009, 121 in 2010, and rose up to 123 days over the first 6 months of 2011. At the secondary market the figure was 128 days in 2008, 145 days in 2009, 143 days in 2010, and 142 days for the first 6 months of 2011,” Ibrahimov said………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

Asia-Pacific retail property rents jumped in the third quarter, driven by strong domestic spending in China, demand from global brands and low vacancy rates, according to CBRE Group Inc., a real estate services firm.

Rents in the region grew by 7 percent in the three months ended Sept. 30 from a year ago, and 2.4 percent from the previous quarter, according to the group’s Asia-Pacific Prime Rental Index………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

The Reserve Bank of India (RBI) has pointed out banks’ disproportionate growth in loans to the commercial real estate sector, the retail segment and the infrastructure sector. Banks have also been found lending heavily to non-banking financial companies (NBFCs).

The banking regulator, however, said there was no evidence of a credit boom in the economy, and that continuous monitoring was required for these sectors as the trend may lead to asset-liability mismatches………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

CBRE Global Investors, manager of $94.8 billion of real estate assets, may make its first investment in China’s housing market in four years in anticipation the government will start easing its property curbs.

The unit of the world’s largest commercial real estate brokerage is in talks with Chinese partners and local governments and plans to buy a site for residential development by the second quarter of next year, Greater China Country Manager Richard van den Berg said………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

Data from the state’s land registry office shows Perth property activity has slumped to 1990 levels. October figures for sales and transfers of all types of property are down seven per cent on September, and are also down seven per cent on the same period last year.

Landgate chief executive Mike Bradford says while he did not expect a rebound to the highs of 2005-2006, he is surprised by the results. “At the moment we’re operating at 1990 levels of activity which is extraordinarily low,” he said………………………………………Full Article: Source

Posted on 15 November 2011 by Laxman |  Email |Print

Crisis or no crisis, some cities in Europe and the Asia-Pacific are still thriving based on their staggering residential prices. In recent study made by Global Property Guide (globalpropertyguide.com), the world’s most expensive cities are still in Europe in spite the debt debacle and austerity measures imposed by the governments.
However, residents with considerable wealth could not be stopped if they want to spend on a piece of real estate for leisure or as a business investment. This mind-set pushed prices in key cities in Europe and the Asia-Pacific, according to the research made by Global Property Guide………………………………………Full Article: Source

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