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Real Estate Briefing 16.Jan 2012

Posted on 16 January 2012 by Laxman |  Email |Print

Stuart MillerHome sales and home building are forecast to rise this year after sliding steeply the past five years in housing’s worst downturn since the Great Depression.
Recovery is expected to be slow, and home prices are widely expected to fall this year. But investors are betting on the start of an upturn, bidding up home builder stocks and causing them to outperform the broader stock market………………………………………..Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

Andrew JefferyMany pundits are predicting that American house prices will reach bottom in 2012 after sliding by more than a third in the past five years. Then again, says Andrew Jeffery on Minyanville.com, “in 2009, 2010 was supposed to be the bottom. Then it was 2011.” So how realistic is the prognosis this time?
Prices are still falling, but they lag changes in supply and demand by a few months, and in this respect the picture is improving. Sales of new houses are up 10% year-on-year, and sales of existing ones, comprising 94% of the market, are at a ten-month high………………………………………..Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

The five-year slide in U.S. home prices will stop this year, followed by the start of a weak recovery next year, according to a Reuters poll that also showed economists split on whether the government would make new efforts to support the market.
A poll of 23 economists and analysts found a consensus for no change in the S&P/Case-Shiller home-price index in 2012, compared with a median 0.3 percent decline that was forecast in the last poll in November………………………………………..Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

Though the storms with regards to the housing market has still not cleared out and though the sky is full of storm clouds till now, a few silver linings have started to break out from the clouds.
That is what most of the economists have to say. According to a recent report, though the median home prices are going to face a 3.9 percent drop; on an average, it is supposed that there is going to be a rise in the home values in dozens of localities in US. Still, it is surmised that the mortgage market in general is not supposed to see any significant development in this year………………………………………..Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

Mutual funds that invest in real estate investment trusts paid off in a big way for investors last year — as long as they stayed within the United States. The average domestic real estate mutual fund returned more than 6% last year, about 400 basis points more than the S&P 500.
The performance helped push assets in real estate mutual funds to $53 billion, from $46 billion in 2010. The picture outside the United States wasn’t as rosy. Global real estate funds lost an average of 10% last year………………………………………..Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

U.K. home sellers cut asking prices for a third month in January, according to Rightmove Plc (RMV), which said the property market will remain “challenging” this year.
Average asking prices in England and Wales fell 0.8 percent from December to 224,060 pounds ($343,400), the operator of Britain’s biggest property website said in a report in London today. In London, values gained 0.8 percent………………………………………..Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

Sovereign wealth funds from Asia may have led the push into the London office market in 2011 but a diverse range of Asian investors is gearing up to gain a foothold there this year.
‘High-net-worth individuals and families from Malaysia and Indonesia are also looking for exposure to London offices,´ James Beckham, director - city investment at Jones Lang LaSalle, said………………………………………..Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

House prices continued to fall across the country in 2011, with Co Wexford showing the steepest decline at 34%. According to the annual house price survey published in Sunday Times, house prices fell further last year than they did in 2010.
Average prices fell by 17% last year, compared to an average decline of 12% in 2010………………………………………..Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

Landlords are being forced to introduce special deals and lower rates in order to attract tenants as new projects come on stream in the capital, a report has said.
And the study, by property advisory group Tasweek Estate Marketing and Development, found that the trend is likely to continue as prices in the capital continue to fall…………………………………………Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

Sections of Dubai’s battered property market could show some signs of recovery in 2012 but the release of new supply coupled with wider global economic woes will seen an overall decline in prices, an Arabian Business poll found.
Well-established communities in Dubai such as Emirates Living and Downtown Burj are expected to see house prices rise by 5-10 percent, a survey of real estate analysts found………………………………………..Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

Residential rental rates in Qatar were broadly stable across all locations in the fourth quarter of last year while the number of transactions and enquiries increased as demand picked up, leading property consultancy Asteco said in its latest report.
With the exception of some marginal rises, rents are likely to remain unchanged in 2012 but demand is expected to continue rising. While supply is set to outstrip demand, the supply/demand gap will decrease towards the end of the year…………………………………………Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

The price of land for building homes in China continued to fall in the last three months in more than a third of its cities compared with the previous quarter, and will probably continue to head south in the next few months, state radio reported on Sunday.
They also fell in several cities compared with a year ago, it added, as Beijing’s two-year campaign to head off a market bubble in the real estate market resulted in falling transactions and prices that forced developers to halt their expansion…………………………………………Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

The economic stresses that have weighed on China’s property market in the past year are presenting an opportunity for Singapore’s biggest developer, CapitaLand.
CapitaLand chief executive Liew Mun Leong told MediaCorp in China last week that the downturn in economic growth globally has created an environment that is conducive to strategic investments…………………………………………Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

Prices for new residential apartments in Beijing are estimated to have dropped by 11.3 percent year on year in 2011, as the government’s policies to cool the sizzling property market took hold.
The average price of a new apartment in the Chinese capital dropped to 13,173 yuan (2,091 U.S. dollars) per square meter in 2011, when about 78,000 units were sold, the Beijing Real Estate Association reported…………………………………………Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

If you’ve never heard of Singapore, don’t worry. It’s a small country – only 25 miles long with about 5 million citizens living near the equator. And it got started in 1965 when it split from Malaysia after the latter passed a law that made people of Chinese and other non-Malay descent second class citizens.
Cambridge Law graduate, Lee Kuan Yew, made Singapore independent and through benign dictatorship turned it into the closest thing to heaven on earth. Or at least that’s what Singapore projects to outsiders…………………………………………Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

Headwinds from the gloomy global economic and financial fronts, particularly in the United States and the eurozone, will pose challenges to the performance of the local real estate investment trusts (M-REITs) this year.
According to Malaysian REIT Managers Association chairman Stewart Labrooy, the M-REIT sector will face slower growth and competition for tenants as an oversupply situation emerges in the office market leading to lower rental yields…………………………………………Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

Property transactions are expected to recover in the wake of Saturday’s presidential and legislative elections which have put the political uncertainty in the market to rest, a real estate agent said Sunday.
The re-election of Ma Ying-jeou of the China-friendly Kuomintang (KMT) ensures that Taiwan will continue on its current cours………………………………………..Full Article: Source

Posted on 16 January 2012 by Laxman |  Email |Print

Australian home-loan approvals rose in November for an eighth straight month as buyers responded to the central bank’s first interest-rate reduction in two years.
The number of loans granted to build or buy houses and apartments gained 1.4 percent from October, when they rose a revised 0.8 percent, the statistics bureau said in Sydney today. The median estimate in a Bloomberg News survey of 19 economists was for a 1 percent increase in approvals…………………………………………Full Article: Source

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