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Real Estate Briefing 18.Nov 2011

Posted on 18 November 2011 by Laxman |  Email |Print

Jay BrinkmannLast year the economic forecasting firm Fiserv predicted that home values would sink around 5% in 2011, and that prices in three-quarters of the nation’s major metro areas would fall. The bad news is, the firm wasn’t that far off the mark. The good news: In the coming year, Fiserv thinks 95% of the 384 metro areas it tracks will see prices rise.

Don’t expect the market to move much beyond first gear, though. The median expectation among more than 100 economists and real estate pros surveyed by MacroMarkets is that home values will inch ahead by a mere 0.25%, compared to their 2011 median forecast decline of 2.8%……………………………………..Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

U.S. builders started slightly fewer homes in October but submitted plans for a wave of apartments, a mixed sign for the struggling housing market. Builders broke ground on a seasonally adjusted annual rate of 628,000 homes last month, the Commerce Department said Thursday. That’s down 0.3 percent from September and roughly half the 1.2 million that economists say must be built to sustain a healthy housing market.

But building permits, a gauge of future construction, rose nearly 11 percent. The increase was spurred by a 30 percent increase in apartment permits, which reached its highest level in three years……………………………………..Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

Builders broke ground on more homes than forecast in October and construction permits climbed to the highest level since March 2010, signs that housing may become less of a laggard in the third year of the U.S. recovery.

Starts decreased 0.3 percent to a 628,000 annual rate from September’s 630,000 pace that was slower than previously reported, Commerce Department figures showed today in Washington. The median estimate of economists surveyed by Bloomberg News called for a drop to 610,000. Building permits, a proxy for future construction, increased 10.9 percent……………………………………..Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

The last decade has seen the emergence of REITs – real estate investment trusts. These trusts invest directly in real estate projects or companies and pass on their earnings to investors as dividends. Thanks to their structure, REITs offer the small investor a unique opportunity to invest in big ticket real estate projects and companies.
Consequently, REIT ETFs have become an important part of most long term investment portfolios. REIT ETFs are also very popular with retirement investment planning as they offer people with smaller portfolio sizes the opportunity to invest in real estate for the long term………………………………………Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

The southern American sun and bargain basement housing prices are beckoning Ryan Deters’ father and many other Canadians, who are diving into cross-border real estate in record numbers.

“Someone who’s earned an average income over a long time and deserves a little bit of fun in their retirement can still afford something in a warm climate, like Arizona or Florida,” said Deters, an associate agent with Co-Operators Insurance in Windsor, who is helping his father look for a home in the U.S………………………………………Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

It should be recognized that from a legal and social standpoint, Cuba’s new housing law was much more thought out and worked through than the one pertaining to vehicles, whose constitutional inconsistencies were discussed in some depth in a previous post.

This thoroughness was positive since the housing situation affects the lives of many more people. Car owners are a tiny minority, whereas 84 percent of Cubans own their homes and apartments………………………………………Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

EMEA office leasing volumes continued to improve over the third quarter of 2011 despite variations in prime rents. Jones Lang LaSalle’s Q3 2011 European Office Clock Report shows prime rents increased in Stockholm, The Hague (both +2.4%), Hamburg (+2.2%) and Milan (+1.9%). In contrast prime rents declined in Brussels (-3.2% Leopold District), Dublin (-3.0%), Madrid (-1.9%) and Edinburgh (-1.8%).

Despite these changes, JLL’s European Office Index is unchanged………………………………………Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

UK commercial property capital growth flatlined in October as the continuing crisis in the Eurozone, and the very real doubts about its resolution, took their toll on occupier demand and investor sentiment. Total return for October was almost entirely income driven, at 0.6%, according to the IPD UK Monthly Index.
For the first time since April rental value levels stepped down, while yield compression slipped to negligible levels. Phil Tily, IPD UK and Ireland managing director said, “Central London retail and office values have been driving returns since the recovery began. However, in the last few months there have been increasing concerns over a pricing bubble in the capital, which the European economy could further exacerbate.”…………………………………….Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

Don Jordison, manager of the Threadneedle UK Property Trust, believes now is a once-in-a-generation buying opportunity in the commercial property sector. Jordison feels that prices are more distressed than at the height of the financial crisis in 2008, and has done more deals in the past two weeks than over the past six months combined.

‘You have a moment in time that is five years from the top of the market. [It is] a point at which many five-year loan deals were structured, and we are seeing those unwind with the need for refinancing or crystallising their losses; this means there are many sellers coming back to the market,’ he said………………………………………Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

Property is one of the four key components of a portfolio, but in investment circles, property means commercial. Residential, like Cinderella, is seldom invited to the investment allocation ball, perhaps because it is not seen as investment grade.

I understand the hesitation; after all, clients already own their own home so have residential exposure. Stories of clients who invested in city centre new build flats which quickly turned from buy to let to buy to regret only add to the negative sentiment………………………………………Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

Northern Ireland’s housing market is showing signs of improvement with the number of sales up and the rate of price decline slowing, a new survey suggests.

The University of Ulster survey indicated the number of sales in the third quarter of the year was 1,133. This is up from 1,062 in the previous three months. The overall average price of a house was £139,691……………………………………..Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

Kazakhstan’s real estate agents are going to seek to have a law ‘On the real estate activity in Kazakhstan’ to be adopted. Currently this document is being developed.

The United Association of Realtors of Kazakhstan, UARK, is setting the rules in the real estate market. This month UARK will conduct certification among domestic real estate brokers. In addition, the association has developed a bill which takes into account the interests of market participants, service consumers and the government……………………………………..Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

Kabul’s unlikely housing bubble is deflating rapidly amid a rash of extravagant insurgent attacks and growing worries among Afghans about what will happen after U.S. combat forces stand down, as expected, by 2014.

For many Afghans, President Barack Obama’s announcement in June that he was withdrawing one-third of U.S. forces by next September marked the beginning of the end of the foreign intervention in their country………………………………………Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

Chinese housing data may show prices in the nation’s four biggest cities are falling as Premier Wen Jiabao pledges to maintain a one-and-a-half year battle to lower prices to a “reasonable” level.

Housing prices in Beijing, Shanghai, Guangzhou and Shenzhen — home to 66 million people — dropped from a month earlier by as much as 0.3 percent in October, a government report will show tomorrow, according to five analysts surveyed by Bloomberg News. Prices in the cities have stalled since July, data has showed……………………………………..Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

Large numbers of real estate agents in China are going out of business or closing branches as the government’s housing curbs continue to slow down the real estate market. Around 1,000 second-hand home realtors have shut down in Beijing since the beginning of the year, 73% of which were smaller firms, according to data provided by domestic realtor Beijing Homelink Real Estate Service Co. Ltd.

Government efforts to ease property price gains and its prudent monetary policies to cool the economy are creating touch market conditions, forcing many real estate agents to scale down operations……………………………………..Full Article: Source

Posted on 18 November 2011 by Laxman |  Email |Print

It is a great time to shop for a glitzy new office at a bargain, and tenants are certainly taking advantage. Newly-finished and semi-complete office towers in Seoul’s business districts are changing not only the capitals’ skylines but also the rent price level _ downward.

Landlords behind these glass-walled temples may be big-name asset management companies or real estate developers, but they are forced to throw unprecedented perks at prospective tenants to lock in deals…………………………………….Full Article: Source

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