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Real Estate Briefing 18.Jan 2012

Posted on 18 January 2012 by Laxman |  Email |Print

Timothy SloanThe housing market is improving but it’s not clear whether it has hit its low yet, Wells Fargo Chief Financial Officer Timothy Sloan told CNBC. Unlike JPMorgan Chase CEO Jamie Dimon, who told CNBC last week the housing market has bottomed out, Sloan said “It’s not clear” whether that has happened but “I hope that is the case.”
Earlier Tuesday, Wells reported earnings that beat expectations on lower loan losses………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

The great thing about the residential real estate market is that it floods us with tons of hard data. The bad news is that all of these tea leaves have again started pointing to a turn for the worse.
The monthly index published by the National Association of Home Builders has just been knocked for a big fall, plunging from 22 to 17 in June. The 2005 peak was at 72. The Standard & Poor’s/Case Schiller National Price Index dove 3.2% in Q1………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

Sales of commercial properties in New York City are likely to be “way up” this year from 2011’s $25.6 billion, as the market rebounds from the financial crisis, executives from Massey Knakal Realty Services said.
The brokerage, which specializes in New York-area investment transactions, projected a 60 percent to 75 percent increase in sales volume to $41 billion to $45 billion. The seven-year average is $30 billion, the Manhattan-based firm said………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

When it comes to safe investing, real estate doesn’t exactly pop into mind these days. But the bust that has beleaguered builders and real estate agents has actually been a boon for many apartment owners. Vacancies are at their lowest levels in six years, and rents are on the rise nationwide.
Those factors aren’t stopping families — many of them former homeowners — from becoming tenants, says Bob Peterson, CEO of Carter, a commercial real estate company in Atlanta. The simplest way investors can capitalize: Pick up shares of a real estate investment trust, or REIT, that specializes in apartments………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

Are Canadian home prices really floating on top of a big bubble? Probably not. But there continue to be reputable observers who are willing to describe today’s undoubted priciness as a “bubble.” Why is this?
Much of problem is a simple problem of word inflation. “Overvaluation” isn’t very scary, so analysts who want to ensure that they’ll attract some attention are tempted to use the term “bubble,” which actually means something far worse than just high prices………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

Kevin Lau, a Toronto-based technology consultant, says he can’t wait to take advantage of the lowest mortgage rates in Canadian history to buy a second condominium and rent his current home.
Lau, 28, plans to get another mortgage and refinance his C$160,000 ($157,000) home loan after Bank of Montreal, Toronto- Dominion Bank and Royal Bank of Canada (RY) cut borrowing costs last week………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

European commercial property investors are likely to focus on top-quality real estate in core markets such as the UK and France in 2012, as concern over the region’s economic outlook continues to sap appetite for riskier assets, CBRE said.
Data from the property consultancy showed European property investment volume rose 4 percent to 115 billion euros ($146 billion) in 2011, with northern Europe outperforming southern counterparts including Italy, Portugal and Spain………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

Commercial real estate investment turnover in Europe rose 4% in 2011 to EUR 115 bn, according to the latest research from CBRE. The full-year figure was boosted by a strong finish in the fourth quarter of 2011 with investment activity rising 15% compared with the previous quarter to EUR 32bn.
The uptick in commercial real estate investment in Q4 2011 versus Q3 2011 was particularly strong in France (+65%), the Nordics (+40%) and Benelux region (+42%)………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

With average house prices nearing 800,000 francs, the Swiss residential real-estate market continues to boom. Market participants say there is no end in sight as cash-rich Europeans and Russians keen to protect their assets fuel demand.
“I’m getting calls from Greek investors almost every day who want to buy a house here,” says Robert Ferfecki, managing director for Sotheby’s International Realty Inc. in Zurich, who is selling luxury homes in the German-speaking areas of Switzerland, including Zurich and Lucerne………………………………………..Full Article: Source

Posted on 18 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 18 January 2012 by Laxman |  Email |Print

“Israel’s housing market is poised for a hard landing, despite two recent Bank of Israel interest-rate cuts,” says Global Property Guide in a review of the Israeli market, and changes in home prices, rents, home sales, and mortgage interest rates over the past decade.
“The slowdown has hit,” says Global Property Guide about home prices, noting that after a 22.4 percent rise in homes prices in 2009 and 17% rise in 2010, prices fell by 3.27% in the third quarter of 2011, compared with the preceding quarter - the second consecutive quarter in which prices fell, after an 0.83% drop in the second quarter………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

Blessed by nature, the Seychelles is an archipelago of 115 islands with superb beaches, an unspoiled landscape, virgin forest, amazing marine life, lots of orchids, bougainvilleas, hibiscuses, gardenias and frangipani, and a profusion of bird species found nowhere else. It is 1,600 km off the coast of East Africa, with a population of only 81,000.
Foreign property buyers in Seychelles mainly come from South Africa, Italy, France, Russia and the UK. Seychelles culture is largely French-influenced, and the population is highly racially mixed………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

Global investors, seeking a safe haven for their wealth amid uncertain economic conditions, are increasingly shifting capital into MENA real estate, according to the region’s largest luxury developer DAMAC Properties. The emerging trend is the result of a combination of factors, the most significant of which is the stabilisation of property prices, coupled with attractive rental yields of between 7-12%, according to CB Richard Ellis.
“The European debt crisis is likely to constrain real estate prices across the Eurozone, the U.S market is still flat and with China and Hong Kong property prices tumbling, the Middle East by comparison, is looking increasingly attractive” said Niall McLoughlin, Senior Vice President of DAMAC Properties. (Press Release)

Posted on 18 January 2012 by Laxman |  Email |Print

Residential property prices in Dubai are expected to maintain their downward trend to reach new lows in mid-2012 but they are not expected to rebound soon due to heavy supply, according to a Kuwaiti investment bank.
In Abu Dhabi, prices are expected to fall further by around 15 per cent through 2012 while rents are also projected to dip by about 10 per cent, Global Investment House (GIH) said in a study………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

Annual growth in real estate investment in China, a main driver of the economy, slowed in December to its lowest pace in a year, falling in tandem with property sales revenues, but analysts predict the worst is yet to come.
Property investment grew 12.3 percent from the same month a year earlier, down from an annual rise of 20.2 percent in November and 25.0 percent in October and September, according to Reuters calculations based on official data released on Tuesday………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

CBRE Vietnam recently released their market review for Vietnam 2011. According to CBRE affordable residential properties are holding their value better than any other segment, in light of the challenging economic conditions. Secondary prices in the affordable segment dropped a slight 0.6 per cent in the fourth quarter, the smallest drop of any segment in primary and secondary markets.
The lure of a settled life and finding a piece of land to call home is an attractive proposition to many Vietnamese, and this keeps the residential market stable according to Marc Townsend, managing director of CBRE Vietnam………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

Australian property trusts are likely to deliver a total return of 12 to 15 percent this year, outperforming local equities and other Asia-Pacific property markets, analysts said.
Australian REITs have proved resilient last year, slipping 7 percent against a decline of 14.5 percent in the broader S&P/ASX 200 index………………………………………..Full Article: Source

Posted on 18 January 2012 by Laxman |  Email |Print

Latest Real Estate Institute figures show 5300 houses changed hands in the final month of 2011, the highest number for a December in four years.
The institute says 900 more houses were sold during December than the same month a year ago. The median price rose nearly 1% to $355,000 over the same period. Adjusting for property size, prices are 3.1% higher than a year ago………………………………………..Full Article: Source

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