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Real Estate Briefing 20.Jan 2012

Posted on 20 January 2012 by Laxman |  Email |Print

The housing market is showing signs of life. This month, confidence among builders of single-family homes is at its highest level since June 2007. The National Association of Home Builders/Wells Fargo Housing Market Index, based on a survey of homebuilders, rose to 25 in January, reflecting an outlook that is low historically but improved from the summer.
Readings on current sales conditions and expectations for sales over the next six months all rose………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

New home construction slowed slightly in December after a strong November showing, but was still much more active than a year earlier. The Census Bureau reported that housing starts fell to 657,000 on an annual basis, down just 4.1% compared with a strong November. Building permits, which are less affected by weather than starts, came in at a 679,000 annual rate, about the same as a month earlier.
The results lagged industry expectations. A consensus of industry experts from Briefing.com had forecast starts of 673,000 and permits of 680,000………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

Builders began work on fewer houses than forecast in December, capping the worst year on record for single-family home construction and signaling recovery in the industry will take time.
Housing starts dropped 4.1 percent to a 657,000 annual rate last month, reflecting a slump in multifamily dwellings, Commerce Department figures showed today in Washington. Building permits, a proxy for future construction, were little changed………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

Two economic reports issued Wednesday hinted that the battered U.S. housing market might at last be on the road to recovery.
The number of mortgage applications filed last week surged 23 percent from one week earlier, according to the Mortgage Bankers Association. The MBA’s seasonally adjusted data also showed that fully 82 percent of the applications filed were not home buyers, but people looking to refinance their home at the current extremely low interest rates………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

It’s only January, but already the latest real estate news indicate that the housing market is looking up. CoreLogic’s latest MarketPulse report, released Wednesday, suggests 2012 could be the year of the housing turnaround. Improved unemployment figures, low mortgage interest rates and inexpensive homes could be just the kick the housing market needs to begin a recovery.
Home sales are expected to rise between 2 and 5 percent year-over-year, according to Freddie Mac’s U.S. Economic and Housing Market Outlook survey, also released Wednesday………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

The value of New York City’s more than 1 million properties may rise 3.8 percent to $845.4 billion this fiscal year as the real estate market recovers, according to a projection by the city Finance Department.
Commercial properties, including Manhattan’s signature office towers, will gain the most, with a 7.9 percent increase to $222.7 billion, according to the tentative assessment for fiscal 2013. “Market forces” — changes in supply and demand - - accounted for more than half that increase, the Finance Department said………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

Commercial property investment volumes in Europe rose by a better-than-expected 17.7% in the final quarter of 2011 to EUR 36.8bn, according to Cushman & Wakefield. For the full year, investment volume totalled EUR 126.2bn, marking an increase of 7.8% on 2010. This is about 10% higher than the EUR 115 bn reported earlier this week by CBRE.
The growth was propelled by foreign investors, who saw their market share rise to 36% from 33% in 2010………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

Total return for commercial property in 2011 was 8.1%, according to the IPD UK Monthly Index. Capital growth slowed to 1.2%, while income return amounted to 6.8%.
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………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

The cost of renting in the UK fell for the second month in a row in December, but is up 4% over the year, according to new research.
The average monthly rent in England and Wales is now £711 a month, down 0.8% on November, according to LSL Property Services. In December 2010 rents fell 1.2%………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

But an unexpected surge in interest from potential homebuyers in December bodes well for the house market this year, estate agents said.
The typical number of house hunters registered per branch in December was 294, 32 more than the average figure for November, with viewings continuing right up until the Christmas break, the National Association of Estate Agents (NAEA) found………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

During the final three months of 2011, France recorded its highest commercial property transaction volume since the third quarter of 2007. Figures released by CB Richard Ellis (CBRE) revealed that investment in French commercial real estate climbed by 65 per cent between the third and fourth quarters of last year.
In total, €6.5 billion (£5.4 billion) was transacted between October and December 2011, making it the second most popular market in Europe after the UK………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

Transaction volumes for Germany’s commercial real estate market will exceed EUR 20 bn in 2012 with continued strong demand from both domestic and foreign investors, according to real estate adviser Savills. Last year, approximately EUR 22.6bn changed hands in the country, marking a 20% increase on 2010.
‘The final quarter of 2011 recorded the second best investment volume of the year at approximately EUR 5.8bn, showing little evidence in the investment market of a deteriorating macro-economic environment,’ said Lars-Oliver Breuer, head of Investment at Savills Germany………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

The five major German office markets of Berlin, Düsseldorf, Frankfurt, Hamburg and Munich ended 2011 on a three-year high in terms of take-up according to international real estate advisor Savills.
The firm’s research shows that total take-up reached approximately 2.85 million m², close to 2008 levels (approx. 2.9 million m²). Compared to 2010 turnover increases are just below 7%………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

Italian pensioners, doctors, film directors, architects, young couples and teachers, as well as similar middle class Greek families, are looking around with budgets of up to 150,000 euros (123,000 pounds), more than enough for a two-room apartment, agents in Berlin said.
The property rush has made the fortune of Berlin real estate professionals who speak foreign languages. “Sales of residential property skyrocketed in the last two months due to fears of a possible default of Italy, new property taxes and threats of a recession,” said Federico Racca, a manager at Berlino Immobiliare, a real estate agency in Berlin whose clients are mostly Italians………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

The price of housing has increased by an average of 35 percent in the last five years, a UBS annual report says. With interest rates lower than ever before and stock markets in constant turmoil, Swiss investors see the real estate market as a solid asset, according to the bank’s ‘Real estate focus 2012′ report.
But the bank’s research branch warned that the real estate market is “overheated” in Switzerland. Investors’ expectations are “clearly too optimistic”, the bank said, while the bleak outlook for the euro area and a lack of alternative investments make for a “dangerous mix”………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

Billionaire George Soros’s assertion that Denmark’s $480 billion mortgage credit system can weather any crisis better than any country where mortgages are bought and sold is proving the rule for international investors.
The Nykredit Mortgage Bond Index, which includes the largest, most-traded of the securities, rose to a record this month, holding up through a real estate slump, a banking meltdown and Europe’s debt crisis. Home-loan bonds have gained 29.2 percent since 2007, beating U.S. Treasuries………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

Turkey, where jewelry, fabrics and spices have been haggled over in bazaars for centuries, was among the last European countries to embrace modern shopping centers. It’s catching up quickly.
Property developers attracted by one of the youngest populations in Europe are building malls at a faster rate than in any other country on the continent except Russia. Istanbul, Turkey’s wealthiest and most populous city, is leading the way with about 30 centers in the pipeline………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

According to research conducted by Auction Alliance, more than 8% of all South African homeowners with mortgage bonds are still underwater with their loans (where balances are higher than values), hinting that there are more distressed sales still to come.
In effect, this will continue to restrain price growth in some areas, and create major constraints for certain sellers in 2012. “So, if it’s still a buyer’s market here are 5 tips for 2012 that are aimed largely at the group that needs the most advice – South African home-sellers. In addition, there are also five tips to help buyers navigate the surplus of investment opportunities available” comments Rael Levitt………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

At a time when most sectors of the industry are preparing to downsize, the real estate sector is planning to do just the opposite - it is drawing up plans to hire thousands in the coming months, anticipating a possible rebound.
Nearly 985 million sq ft of residential space is due for delivery between 2011 and 2013 in existing projects, says real estate data and analytics provider, PropEquity. “To execute the amount of space they have sold, developers will have to double their bandwidth,” says Samir Jasuja, chief executive officer at PropEquity. In comparison, only about 522 million sq ft was delivered in 2008-10………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

Could the arrival of the year of the dragon rescue the country’s beleaguered property developers? As Chinese new year approaches later this month, tens of thousands of couples are preparing to marry under what is considered an auspicious sign. To win over a bride in a country undersupplied with women, it helps a lot if the aspiring groom first proves his worth by buying a home.
China’s developers need all the help they can get. Keen to cool overheating residential-property markets, the central government has restricted purchases of multiple homes, demanded larger down-payments and curtailed opportunities for speculators to “flip”, or quickly sell on, properties………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

Sales of commercial real estate and housing in Beijing declined 12.2 percent year-on-year in 2011, a sign that government curbs have cooled the capital’s once red-hot real estate market.
Property developers in Beijing sold 14.4 million square meters of commercial estate and housing last year, Yu Xiuqin, spokeswoman of the Beijing municipal bureau of statistics, told a press briefing Thursday………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

The local housing market is expected to gather steam in the first half of this year, after cautious consumers shunned buying at the end of last year due to global economic uncertainties.
Datuk Seri Michael K.C. Yam, president of the Real Estate and Housing Developers’ Association Malaysia (Rehda), said people are more confident on the Malaysian economy now despite uncertainties in developed countries………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

While the nation’s housing market is stalling, storefront prices in Taipei City’s prime locations has continued to break records, as evidenced by a recent deal for a tiny retail space on Zhongxiao E Road, a real-estate broker said.
The storefront, measuring 18.45 ping (60.89m2) and currently housing a boutique selling Pierre Cardin products, was sold last month for NT$195 million (US$6.5 million), or a record NT$10.57 million per ping, overtaking the previous record of NT$9.64 million per ping set by a storefront in Ximending, downtown Taipei………………………………………..Full Article: Source

Posted on 20 January 2012 by Laxman |  Email |Print

Which is a better investment: direct investment in rental properties or purchasing a basket of residential REITs or Mortgage REITs? To answer this question, you will need to collect the following information on local properties which are listed for sale:
Prices of rental properties: You can use online search engines or listing sites like Craigslist.org to find these values………………………………………..Full Article: Source

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