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Real Estate Briefing 25.Nov 2011

Posted on 25 November 2011 by Laxman |  Email |Print

Mark CarneyA new study of global housing markets by The Economist warns that markets in Canada and some other countries still appear “uncomfortably overvalued.” Indeed, the magazine calls it downright frothy in its latest update of house prices indicators.
Overall, the report shows prices falling in eight of 16 countries studied in terms of a price-to-income ratio, which measures affordability, and a price-to-rent ratio………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

Patrick NewportThe past week has brought encouraging reports on the housing industry, glimmers of hope that the market might finally be turning in the right direction. But economists and other housing experts have a message that could dampen any optimism: Real recovery remains far from reality five years after boom began turning to bust.
“There has been some improvement, but the numbers are still abysmal,” said Patrick Newport, U.S. economist at IHS Global Insight. “The market is doing really badly; it’s just doing better than it was early in the year.”……………………………………..Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

The Halifax housing market will take a bit of a dip next year, according to a report released this week by a real estate and consulting firm. Citing an expected decrease in apartment starts in Halifax, along with relatively slow job growth, weak gross domestic product and stagnant migration numbers, the Altus Group is predicting about 700 fewer housing starts in 2012 than the 2,800 expected by the end of this year.

But that prognosis is not limited to Halifax or the rest of the province, but to the entire region as well. “The single family will probably be pretty steady next year, but modestly lower housing starts on the multi-family housing side, in particular, as this surge of activity comes through the pipeline,” Altus Group chief economist Peter Norman said in an interview from Toronto………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

Leading retailers and real estate firms talked shop at property trade show Mapic at the Palais des Festivals in Cannes this month. We listened in to find out what some of Europe’s biggest retail property firms are up to.
Cushman & Wakefield: Portfolio Handles 260 shopping centres globally, totalling just under 97 million sq ft of floorspace. Clients include Agent Provocateur, Banana Republic, H&M, Mango, Reiss and Zara………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

The outlook for Britain’s housing market has become more gloomy in recent months as economic growth falters and unemployment rises, according to Centre for Economics and Business Research, which lowered its price-growth forecasts.

Home values will rise 1.6 percent in 2012 after falling 1 percent this year, the London-based group said in an e-mailed statement today. The CEBR, which previously forecast that prices would increase 2.4 percent next year, cut its annual projections through 2015………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

History tells the UK property investor that if they are looking for income, they want exposure to commercial property, while if capital growth is more important, residential real estate is where to invest.

But this trend could soon switch as the private rental sector looks to expand considerably over the next five years………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

The share of first-time buyers in the housing market has dwindled to its lowest point in nearly three years, estate agents have said, prompting calls for the Government to do more to lift the “lending barrier” preventing people getting onto the property ladder.

The National Association of Estate Agents’ (NAEA) market report for October found that 16% of overall sales last month went to first-time buyers, shrinking back from 22% in September………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

Expectations were increasingly gloomy ahead of the government’s announcement earlier this week outlining its plans to kickstart the housing market. One per cent more chartered surveyors reported workloads fell rather than rose, the lowest reading since Q4 2010.

Over half of all respondents reported no change in workloads from the previous quarter, as the industry continued to face difficulties………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

Property owners and investors with ambitions of going continental should consider the French market which, according to IPINglobal, is currently stable and will be for some time. According to Philip Mindenhall, a researcher at the company, France’s commercial property market has managed to avoid the steep highs and lows experienced by its Spanish counterpart.

What’s more, new tax changes could also make property investments en Francais that bit more attractive. He did, however, warn investors that it would not be easy as pie to simply make money. He recommended carrying out research properly before buying, including the purchase of commercial property insurance………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

Germany’s residential market is booming. As volatility in the eurozone reaches near-breaking point, investors are turning to Germany’s residential sector as a safe haven.

In the year to 15 November, there were 68 residential portfolio deals involving portfolios of 250 units and above, a jump of 66% on last year’s figure, according to Cushman & Wakefield………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

The number of German open-ended property funds (GOEFs) that are forced into liquidation is likely to increase in the wake of new financial regulations such as the Alternative Investment Fund Managers Directive (AIFM).
Under the regulation, which is due to be implemented in January 2013, funds will be forced to increase liquidity and will also be supervised more strictly………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

Cyprus bank executives see a further deterioration in the Island’s economic conditions next year that they consider will further reduce liquidity, increase the cost of borrowing, and put further downward pressure on property prices.
Senior managers from three of the Island’s banks outlined a gloomy future for the economy and called on government to take bolder steps to reverse the downward course. Christos Stylianides, deputy CEO of the Marfin Laiki Bank said that “The Cyprus banking system dealt with the shocks of the global credit crisis. However, the government’s failure to take measures in time led to its consecutive downgrades by the rating firms and its inability to borrow from the foreign markets”………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

Private property investment companies from outside Japan say Tokyo is one of their top targets for the next 12 months, with the most active players set to invest close to $1 billion.

Tokyo’s property market has made a surprisingly rapid recovery from the shock of the quake-induced disasters in March. Although the market has been a perennial laggard in recent years, it now looks set to provide stable growth as other markets slip, investors say………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

Seeking to address the concern of real estate developers over delay in getting approval of the projects, government today announced the setting up of an expert commmttee to suggest measures for a speedy clearance system.

Confederation of Real Estate Developers’ Associations of India (Credai) have brought out a model draft for speedy approval of projects through a single-window clearance……………………………………..Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

Terming the draft Bill to regulate real estate sector as a ‘Public Amusement and Developer Harassment Bill’, realtors today said government must come up with a comprehensive and efficient alternative. The government,however, said the proposed law is focused on ‘Aam Admi’ without targetting the builders.

“The Bill in the current form is nothing but ‘Public Amusement and Developers Harassment Bill’,” Confederation of Real Estate Developers’ Association of India (CREDAI) President Lalit Jain said………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

The government’s decision to allow 51% foreign direct investment in multi-brand retail and increase FDI limit in single-brand retail to 100% comes as a whiff of fresh air for the real estate sector, which has been battling slow sales and rising debt for almost two years now.

The cabinet’s decision on Thursday may not make a big impact in the short-term, but it is expected to prompt real estate players who had either shelved or slowed down their plans to build malls and shopping complexes over the past few years, to revive their plans………………………………………Full Article: Source

Posted on 25 November 2011 by Laxman |  Email |Print

Almost 60 percent of the Chinese companies that sold bonds in the past six months invested in the property market, undermining government efforts to limit real estate fundraising and curb inflation.

Out of 121 companies that filed bond prospectuses since May with clearinghouse Chinabond, 74 count one of their main businesses as real estate, have property subsidiaries or invest in the market………………………………………Full Article: Source

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