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Real Estate Briefing 05.Jan 2012

Posted on 05 January 2012 by Laxman |  Email |Print

Edward GlaeserWhat will the New Year bring for housing markets? Prediction is a perilous business, but history and basic housing economics suggest that price changes will stay modest, and that construction will increase only slowly.
The best that can be said about the current market is that it offers abundant affordability and that the broader economic recovery doesn’t depend on a big housing rebound………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

David ReslerThe U.S. government-run mortgage finance firms Fannie Mae and Freddie Mac could play a bigger role in turning around the battered U.S. housing market, the Federal Reserve told Congress, a call that looks set to run into stiff political opposition.
The Fed, in a paper sent to lawmakers on Wednesday, outlined an array of steps that could be taken to help the housing sector, including allowing Fannie and Freddie to provide cheaper mortgages to a broader pool of homeowners………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

Prices of residential properties in the market are expected to hit bottom through a 1.57% decrease by last quarter of 2012 as per the results in the December Zillow Home Price Expectations Survey.
Experts foresee a continued decline in the real estate front of the economy that could be accountable for property prices to floor until early 2013. Negative equity, low consumer confidence and unemployment provide not enough room for another pre-bubble years’ type of appreciation for the market to come into………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

The Manhattan real estate market closed out 2011 with prices relatively flat, but sales volume for the fourth quarter was down by more than 12 percent from the previous year largely because of shrinking condominium inventory as fewer new developments came to market, according to reports that will be released by the city’s major brokerage firms on Wednesday.
The median fourth-quarter sales price was $855,000, down 1.2 percent from the same time in 2010, according to one report, from Prudential Douglas Elliman………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

Jones Lang LaSalle expects the UK market to get off to a slow start in 2012 now that the financial crisis and the ongoing fiscal squeeze have left the domestic economy weaker than previously expected. However, Richard Batten, Executive Chairman UK at Jones Lang LaSalle is hopeful that a strong final burst will lift prospects for 2013.
‘Growth is likely to fall into two phases in 2012,’ he said in a forecast for the coming year. ‘The first six months are expected to be flat at best, with the possibility of a slight dip………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

Scotland outperformed the rest of the U.K. housing market in 2011 as financial services and the energy industry helped boost values in Edinburgh and Aberdeen, real- estate website Zoopla said .
Home values in Scotland gained more than 6.7 percent last year, the most in the U.K., to an average of 164,844 pounds ($258,000), recovering from a slump that began in 2007………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

Property for sale in Portugal has seen a fall in demand, prices and supply, the November Royal Institution of Chartered Surveyors (Rics)/Ci Portuguese Housing Market Survey (PHMS) has revealed.
The survey showed that November experienced the fastest decline in sales activity since the report began in September 2010………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

The struggling Dutch office market needs a haircut of up to EUR 10 bn to restore it to health, according to DTZ Zadelhoff. The figure is based on DTZ’s annual survey which indicates that the office vacancy rate in the Netherlands currently totals nearly 8 million metres. This is equal to 16% of a total office supply of some 48 million m2.
‘Much of this supply has stood empty for so long that we can wonder if any prospective tenants can be found for this space,’ DTZ’s Dutch CEO Cuno van Steenhoven said……………………………………….Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

The UAE’s residential market will continue to mature in 2012 with quality and amenities driving demand, said real estate specialist Cluttons in its outlook for the year.
Offering a snapshot for predicted property trends across the residential and commercial sectors in the UAE this year, Cluttons said rents are expected to bottom out in the commercial sector, with minimal further reductions………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976, today offers a snapshot for predicted property trends across the residential and commercial sectors across the UAE in 2012.
Having identified general maturing of the marketplace in 2011, Cluttons predicts a brisk start to 2012. There will be a continuation of many of the trends seen in the residential market, with good quality, well-established developments benefitting from nearby services and amenities, and continuing to do well at the expense of newer residential areas………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

With the market set to bottom by out by the second quarter of 2012, we will see the beginning of a recovery in the city’s residential real estate fortunes by the second half of the year. Meanwhile, there is very little scope for appreciation in under-construction projects. In fact, unsold under-construction stock will increase significantly.
There is a lot of scope for strategic pre-launch bulk investment deals by HNIs who can predict where the market will head later in the year………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

China’s home prices fell for a fourth month in December as the government prolonged a crackdown on speculation that risks deepening the slowdown in the world’s second-biggest economy.
Property values dropped 0.25 percent from November, SouFun Holdings Ltd., the nation’s biggest real-estate website owner, said today. Prices slid in 60 of 100 cities, and all of the 10 biggest, including Beijing and Shanghai………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

Average home prices in key Chinese cities edged down 0.3 per cent in December from November, the fourth consecutive monthly decline in the face of government measures to restrain an exuberant housing market, a private survey showed on Wednesday.
The China Real Estate Index System (CREIS), affiliated with China’s largest online real estate company Soufun Holdings, said average home prices slipped to 8809 yuan ($1400) per square metre in December, from November’s 8832 yuan………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

You only have to look at the Beijing sky-line to realise how key construction has been to China’s boom. As the gleaming skyscrapers, the fancy shopping malls, the towering apartment blocks have all gone up, property prices have risen with them.
They have increased at least fivefold in the last decade in cities across China, according to state media. But in recent months, those in the property sector have gone from giddy to gloomy………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

China’s property prices fell for the fourth straight month in December, adding further pressure on Chinese consumers at a time when both the domestic and global economy increasingly depend on their spending.
The property slump has triggered a slowdown in sales growth of goods ranging from furniture to refrigerators. Investment in residential real estate accounts for about 12% of China’s economy, but as much as 25% is tied up in a broader category that also includes industries such as construction materials and appliances, according to economists………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

Singapore home prices are continuing their slowing streak. The rise in home prices slowed for the ninth straight quarter in the three months ended Dec. 31, according to the Urban Redevelopment Authority, though they are still holding up fairly well – for now.
Prices of non-landed private residential properties in the city’s core central region edged up half a percent in the quarter, down from a 0.7% advance the previous quarter, while home prices in other parts of the city state have showed less – or no – growth………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

Singapore’s real estate investment sales hit S$28.6 billion in 2011. This is slightly more than the S$27.9 billion worth of deals concluded in 2010.
This is based on data compiled by property consultancy firm DTZ Research on transactions that are above S$5 million in value. It excludes the S$1.1 billion worth of transactions in single residential units and lots that cannot be redeveloped or subdivided into more than one plot………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

Recent declines in property prices are actually a positive sign as it means many people will have better opportunities to afford the home they want, the Ministry of Construction says in a new report.
The market heating up and real estate companies posting huge profits a few years ago had led to misconceptions about market demand, which encouraged more companies to enter the market despite their lack of experience, said the Ministry………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

The US market has maintained its position as the top destination for foreign commercial real estate investors, although Brazil is coming to be seen as an increasingly attractive option, according to the Association of Foreign Investors in Real Estate (AFIRE).
Roughly 60% of respondents to the association’s survey said they planned to increase their investment in US commercial real estate this year, making it the top destination, although that number was down from 72% last year………………………………………..Full Article: Source

Posted on 05 January 2012 by Laxman |  Email |Print

Hotel deals will approach $30 billion worldwide this year, about on par with 2011, as uncertain economic conditions and fragile debt markets make buyers cautious and selective, hotel investment services firm Jones Lang LaSalle Hotels.
Banks looking to rebuild their balance sheets will be a key driver forcing sales of hotel assets this year, and mega-deals of $1 billion or more are likely to be few………………………………………..Full Article: Source

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