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Real Estate Briefing 04.Jan 2012

Posted on 04 January 2012 by Laxman |  Email |Print

Jed KolkoThis new year might be the one in which the housing market starts to strengthen, according to the 2012 predictions of several housing industry observers and experts.
Jed Kolko, chief economist at Trulia.com, a real estate search and research website, says he sees rising rents, a humble recovery in housing prices and even some unexpected “hot” spots where he thinks price increases will exceed the average this year………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

Russell PriceConstruction spending in the U.S. rose in November for a third time in four months, indicating the industry helped boost growth at the end of 2011.
Building outlays increased 1.2 percent, exceeding the median estimate of 46 economists in a Bloomberg survey that called for a 0.5 percent gain, Commerce Department figures showed today in Washington………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

Real-estate investment trusts raised a record-breaking amount of equity in 2011, which analysts believe will be used to pursue acquisitions.
REITs issued $37.5 billion in initial and additional common and preferred shares last year, according to the National Association of Real Estate Investment Trusts. That was up 32% from 2010 and was the largest amount of REIT stock issued since the securities were established in 1960………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

Recently Zillow released its December Home Price Expectations Survey. The results are anything but promising for the American property market, at least until late 2012 or early 2013.
According to the survey, the price of residential property is likely to decrease by about 1.57% in the last three months of 2011. The prices are expected to tumble further down until the latter part of 2012 to the first quarter of 2013………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

You might have missed the news because it happened over the holidays last month, but the National Association of Realtors put out home sales data for November and also revised its sales numbers for the past several years going back to 2007.
Yikes! Several people in the local real estate market raised eyebrows over this, and NAR said that the error, which was a 14.6 percent downward revision of national home sales for 2010, was due to a change in the actual number of for-sale-by-owner home sales………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

The U.S. office market improved in 2011, but continued growth in 2012 is expected to slow, according to two separate reports released on Tuesday.
The demand for office space in 2011 was at its highest level since 2007, according to real estate brokerage Cassidy Turley, with 50.4 million square feet of net absorption, up from 18.7 million square feet in 2012. Net absorption measures the change in the total occupied commercial space, taking into account new leases and vacancies………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

A simple answer to any questions about the real estate market in 2012 is: If you want to know what the housing market will be like next year, ask the government. At this point, low mortgage interest rates only exist thanks to its efforts and job recovery is essential to real estate recovery.
But if you were to ask me, I predict: 1. Foreclosures and short sales will play a key role in U.S. housing. The U.S real estate market is poised to be hit by another surge of bank repossessions………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

The top 20 places to invest in Europe. Data courtesy of Global Property Guide. 20. Paris, France. Good: Low rental costs, high yields in Paris, Global political powerhouse. Bad: pro-tenant rental market, moderate-to-high transaction costs.
19. Helsinki, Finland. Good: low to moderate transaction costs, strong economy, moderate yields, tenant-neutral rental market. Bad: high rental income tax………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

The European listed property sector reported a loss of up to 10.4% in 2011, with December closing 0.7% lower than the previous month, according to the GPR 250 Europe Index.
The result for Europe compares to a return of 13.8% posted by GPR 250 Americas and a loss of 19.3% by GPR 250 Asia………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

Nearly £840 mln (EUR 1 bn) of capital has been committed to investment and development in the student accommodation sector in 2011, new research of CBRE has revealed. This is more than double the £350 mln allocated to the sector in the whole of 2009.
Student accommodation has proved popular with investors attracted by the stable annual income and positive yield movements over the course of last year. Rents have grown by four per cent regionally and by nearly 5% in London during 2011 with occupancy rates currently at around 99% on average………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

Property prices in Ireland are in freefall, according to housing analysts, whose latest figures show that prices in Dublin have collapsed by 65% in five years and by 60% across the country.
A house price index released by the largest residential sales group – the Sherry FitzGerald Group – found that the pace of deflation has sped up in Dublin, while prices across the country are now at levels last seen 11 years ago………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

The Arab Spring of 2011 brought an influx of visitors to Dubai and boosted demand for real estate in the emirate, but industry experts warn that the global economic slowdown and an oversupply of property will drive residential prices lower for years to come.
“Although the Dubai real-estate market saw some signs of stability in 2011, and in some premium locations prices rose slightly, on the whole prices are seen further softening over the next five years or more as the global economic decline continues and more units come online,” says Ronald Hinchey, head of professional services at property consultants Cluttons Dubai………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

The Dubai Land Department, the real estate sales authority in the Gulf Arab sheikhdom, said sales of land and properties in 2011 was 20 percent up year-on-year, Gulf News reported. The news triggered hopes in the industry that the years of crises might come to an end.
According to Gary Dugan, Chief Investment Officer Private Banking at bank Emirates NBD, new demand is seen for villas on the man-made island Palm Jumeirah and in the Arabian Ranches in southwest Dubai………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

Unstable and record high gold prices are forcing many investors in the industry to diversify their investments and a favorite alternative is the Kingdom’s booming real estate market. According to Fahad a shopkeeper at the Al-Yamama gold souk in South Jeddah, many owners are reducing the amount of gold they keep in their shops and shifting their attention to real estate investments.
“The owner of the shop has reduced the number of workers here from five to three and is investing in constructing new apartment buildings, which unlike gold, sell very quickly,” said Fahad………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

Red Fort Capital, an India-focussed real estate private equity firm, is set to raise $500 million fund that will invest in commercial and residential assets in Asia’s third-largest economy, two sources with knowledge of the matter told Reuters.
The company is in the final stages of fund raising, at a time when global fund raising markets are besieged by economic growth concerns, and will formally announce a “closure soon”, said the sources, who declined to be named as they were not authorised to speak to the media………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

What is affordable housing? One definition is that the median house price should be in proportion to the median household income. If 50% of families (the top 50%) can afford to buy an average home, then the market is perfectly balanced.
But we don’t live in a perfect world. Governments play a critical role in real-estate markets, often in response to public demand for housing to be, well, affordable (see Fannie, Freddie). This doesn’t always end well, to put it mildly………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

One of the biggest public-housing projects in history will help determine whether China can remake its real-estate sector fast enough to prevent its economy from flaming out. China is in the midst of a crash program to build 36 million subsidized apartments by the end of 2015—enough units to house the entire population of Germany.
The goal is twofold: to head off social unrest by ensuring decent places to live for low-wage workers, but also to cushion an expected fall in high-end construction—the result of policies to tame property speculation—by ramping up construction at the low end: so-called social housing………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

Singapore’s private residential property price growth continued to slow in the fourth quarter, the Urban Redevelopment Authority said Tuesday.
The private residential property index rose 0.2 percent in the fourth quarter compared to the 1.3 percent increase in the previous quarter. The rate of growth has eased for the ninth consecutive quarter since the fourth quarter of 2009………………………………………..Full Article: Source

Posted on 04 January 2012 by Laxman |  Email |Print

Location, location, location has been a byword for all parties related to the real estate industry for a long time. This word is still applicable in all situations, even in the country’s worst inundation last year. People are now looking for non-flooded locations.
Flooding has become a new decision-making factor to consider when buying a house, acquiring land and approving home loans and it will also affect the design of houses, condominiums and property projects which will all require flood-protection systems………………………………………..Full Article: Source

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