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Real Estate Briefing 17.Jan 2012

Posted on 17 January 2012 by Laxman |  Email |Print

Doug PorterCanada’s real estate market is growing at a snail’s pace, reinforcing hopes the housing sector will glide to a soft landing instead of crashing.
Worries over the economy have dampened demand in some resale housing markets, but the prospect of low interest rates for at least another year is luring buyers and helping create an equilibrium in most parts of the country………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

Gregory KlumpHome sales across Canada continued to creep up in December but modest gains overall suggest the once red-hot housing market may cool down in 2012. National sales activity rose 1.8 per cent from November to December, the Canadian Real Estate Association said Monday. That’s the fourth month in a row sales activity has increased.
That uptick in activity helped push sales to almost 457,000 units last year, or a 2.2 per cent increase over 2010………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

Millions more are underwater — owing more than their home is worth — and may give up if things don’t improve soon. All told, Goodman warns that more than 10 million of the nation’s 55 million mortgage holders could default by 2018.
If home prices fall much more than the 6% or so she’s projecting over the next 12 to 18 months, the picture worsens, as more foreclosures drive prices down further, in turn causing more sheriffs’ sales………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

“Real estate prices may be bottoming out.” – Robert Shiller. Over the weekend, I attended the annual American Economic Association (AEA) meetings in Chicago, and ran into Yale economist and long-time friend Robert Shiller at a luncheon.
Bob is famous for his book Irrational Exuberance, wherein he predicted the tops of both the stock market in 2001 and the real estate market in 2006. He is also co-inventor of the Case-Shiller Real Estate Index. I asked him if the index suggested a bottoming pattern. He didn’t know for sure, but he noted that the futures market for real estate looked promising………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

U.K. commercial-property prices fell for the second month in December as demand for assets in all but the best locations dropped amid concern that the country is slipping back into recession.
The average value of stores, offices and warehouses declined 0.1 percent in December from a year earlier, Investment Property Databank Ltd. said today on its website. Retail properties led the decline, falling 0.2 percent………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

U.K. home sellers cut asking prices for a third month in January, according to Rightmove Plc, 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 ($343,000), the lowest in a year, the operator of Britain’s biggest property website said in London today. In the capital, values gained 0.8 percent………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

Capital values fell for the second consecutive month in December, by -0.1%, making growth just negative overall for the last quarter of 2011. Total return, which stood at 0.5% for all property in December, was down in all three market sectors.
Phil Tily, Managing Director of the UK of the UK and Ireland, explained “While growth for the year remained positive, the outlook for 2012 is less than ideal. During the last three months of the year, as the euro situation worsened and the threat of recession increased, returns tailed off considerably………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

London’s commercial property market suffered another major setback as a deal fell through to let one of the biggest future office schemes in the City financial district.
Anglo-French developer Hammerson said law firm CMS Cameron McKenna has pulled out of talks to pre-let a third of the 600,000 square feet, 485 million pound ($741 million) Principal Place scheme in Shoreditch, which a source said will delay the April start date for construction………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

La Francaise REM, Deutsche Hypo and Henderson Property have recently made plays in the French property market both in and beyond Paris, but managers are not convinced European real estate offers refuge.
Last week La Francaise REM acquired an office site on the rue du Dôme in Boulogne-Bilancourt, an area on the outskirts of Paris. It purchased the 5,200 sqm building from a pan-European German property fund for the net value of €23m………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

Financing will be one of the major problems facing the German real estate market this year, according to Oliver Priggemeyer, chairman of IC Immobilien Holding.
Priggemeyer told IPE: “What I am worried about is the banks because they are cleaning out their balance sheets, which will make new financing more difficult………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

Bond and currency investors in Europe have flocked to Scandinavia to escape the euro area’s debt crisis. They may need to rethink their bets as the risk of asset bubbles threatens to trigger losses in Norway and Sweden.
The notion that the Nordic region is a haven “is really a false perception,” said David Deddouche, a foreign-exchange strategist at Societe Generale SA in Paris, in an interview. “The risk is that at some stage there is a domestic development which pushes every investor out of the market at the same time and it is going to squeeze heavily. It’s quite dangerous.”……………………………………….Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

The number of transactions and inquiries is expected to continue rising this year with the supply/demand gap narrowing, says Asteco Qatar Q4, 2011 report. Residential rental rates in Qatar were broadly stable across all locations in the fourth quarter of last year while the number of transactions and inquiries 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 this year but demand is expected to continue rising………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

Delhi and Mumbai have slipped in an Asia-Pacific real estate investment opportunities list for 2012 owing to economic and inflationary issues, says a joint report by the Urban Land Institute (ULI) and PwC.
The report, titled, ‘Emerging Trends in Real Estate Asia-Pacific 2012′, found Delhi and Mumbai dropped from fifth and third place in last year’s list of real estate investment prospects to 12th and 15th position, respectively, in 2012………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

Residential property market in Mumbai will start witnessing a recovery in the second half of 2012 as it looks set to bottom out by the second quarter of the year, said property consultancy firm Jones Lang LaSalle India.
“The reduction of interest rates expected by the second half of the year will help kick-start a generalized - though cautious - recovery in demand for residential property, leading to an increase in launches,” a release from JLL quoted Ramesh Nair, Managing Director - West, Jones Lang LaSalle India as saying………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

Investors are the lifeline of a cash-strapped developer. They are the ones who are keeping builders afloat even now. Pankaj Kapoor, managing director of real estate research firm Liases Foras, explains that compared to 1995, when there was shortage of liquidity in the market which led to a crash in the real estate sector, the situation now is quite different. “There are hardly any avenues which offer you safe returns today.
The stock markets are volatile and gold prices are also at an all-time high. So, investors look at the real estate sector to park their excess funds. It is not the developers who would have to take a price cut but the investors,” he adds………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

China’s fledgling real estate investment fund market could see a surge of activity in 2012 as property developers launch their own vehicles in a desperate bid to bridge an estimated $111 billion financing gap in the year ahead.
A government-led clampdown on bank, bond, equity and trust market financing for real estate has left developers with little choice other than to set up their own funds, which have raised barely 10 percent of the sum in the past two years that needs to be found to refinance maturing debt in 2012………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

Evergrande Real Estate Group Ltd, the second-biggest developer in China by sales value, forecast flat 2012 sales and said the wider property market would be gloomy in the first quarter, with no improvement until after the lunar new year.
Evergrande said it would generate sales of 80 billion yuan ($12.69 billion) in 2012, roughly the same as 2011 sales, adding it was setting a conservative sales target that it hopes to exceed by a similar amount to last year. But management said the days of rampant growth are over………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

Beijing will continue controls over the property market in 2012 in order to consolidate the achievements already made and to bring housing prices down to a reasonable level, Beijing Mayor Guo Jinlong said at the Fifth Session of the 13th Beijing Municipal People’s Congress on Jan. 12.
Beijing will continue to strictly curb speculative investment in the real estate sector this year to bring housing prices to a reasonable level……………………………………….Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

Singapore’s December private home sales dropped to the lowest in two years after the government imposed new taxes on house purchases.
Private home sales in the island city fell to 632 units in December, the lowest since December 2009, according to data from the Urban Redevelopment Authority. Total sales for the year declined 24 percent to 12,656 units from a year, the data showed………………………………………..Full Article: Source

Posted on 17 January 2012 by Laxman |  Email |Print

The number of home loans approved in November has beaten market expectations and the prospects for 2012 look good, economists say. The Australian Bureau of Statistics (ABS) said today the number of mortgages approved in November rose 1.4 per cent to 46,953.
Macquarie senior economist Brian Redican said the data was encouraging. “Definitely, we are seeing a step in the right direction,” he said………………………………………..Full Article: Source

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