Sat, Oct 25, 2014
A A A
Welcome hendrik.absolut
RSS
Real Estate Briefing 09.Jan 2012

Posted on 09 January 2012 by Laxman |  Email |Print

In an unusual step, the Federal Reserve sent a white paper to congressional committees last week, urging them to look again at what ails the U.S. housing market and at possible remedies. More can be done, the Fed says, to help it revive.

Good advice. Housing is where the recession started, and it remains one of the main things holding back the recovery. Friday’s unemployment numbers — nonfarm payrolls grew by 200,000 in December, and the jobless rate ticked down to 8.5 percent from 8.7 percent — join other tentative signs of an improving economy, but the housing mess is mostly getting worse. There’s still a grave risk it might stop, not just delay, the expansion………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

Property owners across the country bear a burden from the recession: paying a fortune in moving and storage costs to evict tenants who fail to pay their rent. But the owners’ losses are a boon for the companies that clear out homes. Their business has skyrocketed, “making money out of people’s misery,” said David Robinson, an attorney for Legal Services NYC, which helps low-income New Yorkers navigate the eviction process.

Hardest-hit are ethnic urban neighborhoods, where about twice as many renters are forced to leave as in the general population, according to housing experts………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

Three Federal Reserve policy makers said the U.S. government should try new ways to spur the housing market without agreeing about how much more the central bank needs to do to bring down interest rates.

New York Fed President William C. Dudley said in New Jersey yesterday that “additional housing policy interventions” can help boost growth, even as the Fed should consider further easing………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

Among those who moved last year, the nation’s capital was once again the most popular destination. According to a United Van Lines annual migration study, which took into account 146,000 interstate moves, nearly twice as many Americans moved to Washington, D.C. than moved out, making it the most migrated to destination in the nation for the fourth year in a row.

Often, people go where the jobs are. As unemployment soared throughout most of the nation over the past four years, jobs were being created in or near D.C., thanks to one big employer: The government………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

Britain’s property market faces an “uncertain” year after a weakening economic recovery dragged house prices to their lowest level in 2 1/2 years, Halifax said.

Values dropped 0.9 percent to an average 160,063 pounds ($248,000) last month, the cheapest since July 2009, the unit of London-based Lloyds Banking Group Plc, Britain’s No.1 mortgage provider, said today. Values fell 2.2 percent from a year ago………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

According to the latest Halifax House Price Index, a typical UK home cost £160,063 in December 2011. A year earlier, this price tag was £163,665, so the average value of a property has fallen by £3,602 (2.2%) in 12 months.

What’s more, most economists and property pundits predict further falls for 2012. For the record, I also expect house prices to decline yet further this year, because of this toxic cocktail of problems for property prices (in no particular order):……………………………………..Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

U.K. home prices have fallen 9.5 percent since the market slumped in 2007, real-estate broker Savills Plc estimated in November. The biggest loser has been England’s northwest with a 14 percent drop. London prices have shed 2.9 percent.

Barclays spokeswoman Emma Austin declined to comment on its lawsuit. U.K. telephone directories on line didn’t list an address for Sandha since he left Coleorton Hall and the lawsuit didn’t provide details of where he is now. Apollo spokesman Charles Zehren declined to comment………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

Luxury-home prices in central London gained for a 14th consecutive month in December as overseas buyers sought safer investments and competed for a smaller number of properties for sale, Knight Frank LLP said.

Values of houses and apartments costing an average of 3.7 million pounds ($5.7 million) rose by an average of 0.8 percent from a month earlier, the London-based broker said in a report today. Prices are now 7 percent higher than their previous peak in March 2008………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

Economist Peter Bacon has warned that Ireland faces a recession “more protracted and more severe than the one we are already in” if the Government fails to intervene in, and bring stability to, the property market.

“The market went to dizzying heights and now it’s going to dizzying lows,” Mr Bacon told the Sunday Independent, as he described how property prices were now being driven down by speculative forces in much the same way they had been driven upwards in the boom years………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

For those olim deciding where to live in Israel or for those individuals just looking for an opportunity to invest in an area that has upside potential, perhaps a few of Israel’s coastal cities in the North, a bit out of the limelight, bear investigation.

Not everyone who loves living by the sea prefers the big city lights and all of the hustle and bustle that go with it. For those who prefer a slightly slower pace and less people, here are at least two communities that don’t get much publicity, but have definite long term investment potential and improving “quality of life” environments………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

Commercial banks advanced more credit to businesses compared with the real estate sector in 2011, as lenders moved to reduce their exposure to rising loan defaults in the property market largely due to high interest rates and a slowing economy, new data shows.
The latest Monthly Economic Review indicates that the trade sector received $576 million, in the eight months to August 2011. Households took second place receiving $437 million, while the real estate sector came in third with $429 million………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

The average rentals in Dubai, Sharjah, and Ajman witnessed a decline of about 10 per cent last year, according to real estate experts. Last year, there was gradual stability compared with the sharp rental decline witnessed in 2009 and 2010. During that period, property prices dropped between 40 and 50 per cent compared to peak prices in 2008.

Sharjah accounted for the largest share of the decline, with residential rentals declining between 10 and 20 per cent, while the decline in Dubai and Ajman ranged between 5 and 10 per cent………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

The housing market in Oman has started showing signs of recovery amid strong demand for centrally-located furnished properties and complexes with lifestyle facilities in Muscat, according to real estate expert Cluttons.

Cluttons, in its 2011 review of the Sultanate’s residential property activity, said the leasing market witnessed the most interesting shift in balance between the tenants and owners expectations, with many more property variables such as design, style, location, age and size, as well as superior facilities affecting pricing………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

Real estate companies, which started venturing overseas around 2006-07, are reviewing their global plans. With the slump in international realty markets, many domestic companies are either withdrawing from weak markets or putting their global plans on hold.
Raheja Developers, for instance, has shelved plans to enter markets such as Mauritius and Colombo. Hiranandani Group, which has a major presence in Dubai, has changed its strategy. It’s stopped launching new projects, and is focusing on completing existing projets for other developers on a contractual basis. Omaxe has already exited Dubai………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

China’s land supply went up 37 percent year-on-year in 2011 amid the government’s tightening measure on commercial property market, according to the Ministry of Land and Resources (MLR) on Saturday.

Most of the land supply last year went to the country’s 10 million government-subsidized affordable housing units that began construction in 2011, according to MLR. In the meantime, land supply for commercial residential housing totaled about 96,700 hectares last year, up only 4 percent from previous year………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

The upmarket segment of the housing market faces a tough 12 months as it battles a possible oversupply of new homes and the effects of the recent cooling measures. Thousands of units already launched are still awaiting buyers while developers might be considering delaying further launches until things pick up.

The saving grace is that interest rates remain low, and many property firms are cashed up from the bumper market in recent years so they can ride out the slump………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

Real estate has long been considered an invincible asset class in Korea.Owning a piece of real estate has been nearly every Korean’s dream as the prices of apartments jumped 1,037 percent on average in 24 years between 1987 and 2010, compared to 652 percent growth in stock prices, according to a research by KB Financial Group.

Koreans’ unwavering faith in investment into properties is now being challenged. One aging apartment complex in the wealthy neighborhood of Gaepo-dong in southern Seoul saw its value skyrocketing 1,074 percent in 20 years but drop 11.5 percent in the past five years, the research showed………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

The housing market in Taiwan, which has been overheated for the last seven years, is expected to slow down with the price decreasing by 20-30 percent in 2012, experts said Sunday. The housing transaction in 2011 was estimated at around 363,000 units, a record low in eight years and a drop of 10 percent from 2010, according to Chinatrust Real Estate Co.

As a result of global stock market declines and Taiwan’s introduction of luxury tax last July, forecasts for the property market have become more conservative, My Housing Magazine said………………………………………Full Article: Source

Posted on 09 January 2012 by Laxman |  Email |Print

Home transactions in Taipei City and New Taipei City fell almost 20 percent in the first 11 months of 2011 after the government introduced the luxury tax in an attempt to cool down the local property market.
According to data compiled by U Trust House, one of Taiwan’s real estate agencies, home transactions in New Taipei City in the 11-month period fell 19.7 percent from a year earlier to 78,230 units, marking the steepest decline among the five special municipalities on the island………………………………………Full Article: Source

See more articles in the archive

banner
October 2014
M T W T F S S
« May    
 12345
6789101112
13141516171819
20212223242526
2728293031