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Real Estate Briefing 12.Jan 2012

Posted on 12 January 2012 by Laxman |  Email |Print

Arthur de HaastInternational property adviser Jones Lang LaSalle expects global investment into commercial real estate in 2012 will match last year’s volume which totalled US$400 bn (EUR 315 bn).
However, in a preliminary report released on Wednesday, JLL warned that downside risks from the Eurozone sovereign debt crisis could have a ’substantial’ effect on transactional volumes this year………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

U.S. commercial property deals are likely to climb 50 percent to $300 billion this year as loan maturities force asset sales and the economy grows, Real Capital Analytics Inc. said in its annual list of market predictions.
“Commercial real estate remains very attractive relative to other asset classes, and it is likely that equity capital will be both more plentiful and more motivated over the coming year,” the New York-based real estate research company said………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

While residential property markets remain troubled, commercial real estate markets have already entered an up cycle and are poised for “slow, steady improvement” over the next five to seven years, says a new white paper from Forward Management, LLC.
Titled Inflection Point: The Start of a New Cycle in Real Estate?, the paper posits that the recovery will play out in uneven waves across U.S. and international markets. Knowledge-based “gateway” cities and technology corridors are already recovering as job growth fuels demand across commercial property sectors. As vacancies drop and rents rise in those areas, demand will likely spill over into suburban job centers and secondary markets, the paper suggests.(Press Release)

Posted on 12 January 2012 by Laxman |  Email |Print

Ben S. Bernanke is signaling his willingness to double down on a three-year bet that’s failed to revive housing, showing the extent of the Federal Reserve chairman’s effort to wrest a recovery from the deepest recession.
Since the Fed started buying $1.25 trillion of mortgage bonds in January 2009, the value of U.S. housing has fallen 4.1 percent, and is down 32 percent from its 2006 peak, according to an S&P/Case-Shiller index………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

In Washington policy circles, money and influence can be used to make even the most simple and obvious things complicated and confused. This is certainly the case with the housing bubble and its aftermath. Four years into the housing bubble downturn, much of the country remains hopelessly confused about what happened, why it happened and who is to blame.
First, what happened is very straightforward: we had a huge run-up in house prices that had no basis in the fundamentals of the housing market………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

The CoreLogic Home Price Index inclusive of distressed properties (foreclosures and short sales) fell 4.3% from a year ago after showing a decelerating trend in the three months ended October. Excluding distressed properties, the CoreLogic Home Prices fell only 0.6% from a year ago and it shows of stabilizing.
The excess supply of homes, partly from distressed properties, is the major factor leading to a sustained drop in home prices. The CoreLogic Home Price Index is down 34% from its peak in March of 2006………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

As bond, CD, and money market interest rates remain mired at rock-bottom levels, investors continue their quest for dividends. One category offers eye-popping yields: mortgage real estate investment trusts, or mREITs (which are required to pass most of their income to shareholders via dividends).
Chimera Investment and American Capital Agency each yield more than 19%. And the largest mREIT, Annaly Capital Management — which we’ve recommended before — offers a 15% payout. Are these returns too good to be true?……………………………………….Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

Jones Lang LaSalle reports retail real estate investment remained strong in the final quarter of 2011. Preliminary analysis suggests that direct investment in retail real estate for the year is likely to exceed €28 billion, which Jones Lang LaSalle forecast earlier in the year, representing a significant increase on 2009 and 2010 total volumes of €12.3 billion and €20.7 billion respectively.
Geographically, the majority of activity remains focused on the UK and Germany. The UK leads the rankings, despite a strong second half of the year for Germany………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

Real estate investment activity in Poland, the Czech Republic, Slovakia, Hungary and Romania more than doubled in 2011 to EUR 6.1 bn from EUR 2.9 bn the previous year, according to global property adviser Cushman & Wakefield.
Poland continues to lead the region with EUR 2.58 bn transacted in 2011. However, the Czech Republic experienced the largest increase in transaction volumes year on year, soaring from EUR 479 mln in 2010 to EUR 2.2 bn in 2011………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

Entrepreneurs often secure loans against their homes, but with house prices forecast to stagnate or fall, lenders may not be keen on helping out.
The government is pinning a lot of hope on the economy rebalancing. It wants manufacturing, inventions and exports to take the place of high street spending and government outlays. It wants brave new entrepreneurs creating jobs with brave new businesses………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

According to Chesterton Humberts/CEBR DECMBER 2011 House Price Poll of Polls, London house prices throughout most of the year, have been insulated from the effects of the recession and public sector job losses.
However, potential buyers have become concerned about the Eurozone sovereign debt crisis in recent months, which has started to negatively affect the capital’s house prices………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

German fund KanAm is in talks with at least two bidders for part or all of a 1 billion pound ($1.6 billion) portfolio of four London properties that include Deutsche Bank’s UK base, a source close to the process told Reuters.
The sale by the German open-ended fund also includes buildings occupied by the European Bank for Reconstruction and Development and Thomson Reuters, underlining the strength of London’s safe haven appeal for real estate investors………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

Dutch pension fund BpfBOUW has gained exposure to the Australian real estate market for the first time by investing in three existing core funds. The €31bn pension scheme for the Dutch building industry is carrying out a strategy to increase the global diversification of its property portfolio.
It already has investments in the Asia Pacific, including Singapore, Hong Kong, Japan and China, as well as a small exposure to India and South Korea………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

Landlords in Oman will need to offer better perks to attract tenants as the release of new supply puts downward pressure on property rents, real estate consultancy Cluttons said.
The sultanate risks developing a split property market with owners of villas and apartments in older, badly-maintained developments struggling to attract new residents, Cluttons analysts said………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

The construction of enormous skyscrapers has an “unhealthy” link with looming financial crises and investors should therefore keep a close eye on China and India, Barclays Capital said on Wednesday.
China is currently the biggest builder of skyscrapers, while booming India is constructing the second largest tower in the world, the group said in its latest annual ‘Skyscraper Index’ survey………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

Despite the deletion of the new clause in the foreign direct investment (FDI) policy prohibiting put options, offshore real estate funds are looking to set up non-banking financial companies (NBFCs) to actively invest in the sector.
“We are currently advising several offshore clients on setting up realty specific NBFCs,” said Ruchir Sinha, co-head of real estate investments practice at law firm Nishith Desai Associates. He declined to reveal the names of the firms because of client confidentiality issues………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

In a rising interest rate regime, where residential real estate is clearly feeling the heat, Bangalore as compared to other metros, is clocking in a fairly decent performance.
Bangalore residential sales volumes fell by a mere 7% y-o-y in Q3CY11 compared to the steep fall witnessed in the cities of Mumbai at 48% and Delhi at 31% due to healthy demand from the IT sector and only a modest (+7% y-o-y) increase in real estate prices, said a report by Prabhdas Lilladher, a brokerage firm………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

Just so as we are not accused of being gloomsterish on China, here is the latest from JPMorgan’s Jing Ulrich. While risks of external shocks abound, she sees a more nuanced response from the central government than in 2008-09.
There’s already been some selective easing, and reserve requirement ratios for banks are, of course, expected to be further reduced this year. And there are some opportunities amongst the latest policy signals:……………………………………….Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

Shanghai Mayor Han Zheng on Wednesday said the government will continue with its policies aiming to bring down the prices of the city’s new residential apartments.
Han told a municipal congressional meeting that Shanghai will carry on implementing the central government’s package of policies, which include mortgage restrictions and limits on the numbers of homes people can own, to cool the property market while increasing land supply and deepening property tax reforms………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

Hong Kong, one of the world’s richest cities, is abuzz with a luxury property boom that has seen homes exchanged for record sums. But the wealth of the city has a darker side, with tens of thousands priced out of housing altogether and forced to live in the most degrading conditions.
These pictures by British photographer Brian Cassey capture the misery of people - some estimates put the figure as high as 100,000 - who are forced to live in cages measuring just 6ft by 2 1/2ft………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

Construction demand in Singapore may fall by up to a third this year, the city-state’s Building and Construction Authority (BCA) said on Wednesday.
BCA said construction demand, which refers to value of contracts awarded, is expected to fall to S$21 billion ($16.3 billion) to S$27 billion in 2012, down from S$32 billion in 2011………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

Black money refers to money removed from the official economy (via corruption, bribery, tax evasion, etc.) and stored in terms of cash within or outside of the country. Any monetary transaction which is done in cash and not shown officially on any documents is source of generation of black money.
Real estate is market in which sources confirms that 50 % business are done in cash. Most of real estate developers do so in order to save tax which is actually wrong………………………………………..Full Article: Source

Posted on 12 January 2012 by Laxman |  Email |Print

Mortgage debt is by far the largest component of debt in Australia today—government debt, which is the focus of political debate, is trivial by comparison (a quick caveat though—finance sector debt may be larger again than mortgage debt, if this claim, sourced from Morgan Stanley, is accurate— since it shows Australia’s aggregate private debt ratio as almost equal to the USA’s).
The household debt to income ratio may have topped out now, after growing fivefold in the last two decades………………………………………..Full Article: Source

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