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Real Estate Briefing 25.Jan 2012

Posted on 25 January 2012 by Laxman |  Email |Print

President Barack ObamaWhat’s President Obama’s plan for getting the housing market back on track? Look for proposals—but not necessarily solutions—in tonight’s State of the Union address.
On Monday, government officials announced that a $25 billion settlement to help troubled homeowners refinance or reduce the principals owed was close to becoming a reality. Five major banks—Bank of America, Wells Fargo, Citibank, JPMorgan Chase, and Ally Financial—are currently in negotiations with U.S. state attorneys general to reach a settlement that would aid Americans hurt by foreclosure wrongdoings and deceptive lending practices on the behalf of the banks………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

James CorlBlackstone Group LP (BX) secured more than $6 billion of pledged capital for a new real estate fund that will buy mainly distressed-property assets, said two people with knowledge of the fundraising.
The New York-based buyout firm plans to raise at least $10 billion for the fund, known as Blackstone Real Estate Partners VII, said the people, who asked not to be identified because the capital-raising is private. Blackstone expects the vehicle to be fully funded this year, they said………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

The cost of renting a home in the U.S is climbing. Rents for primary residences rose 2.5% year-over-year in December, according to the government’s consumer-price index. The pace of the increase in rents has picked up since the summer.
Unemployment and tight lending standards have dissuaded some potential homebuyers and spurred demand from renters………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

The Great Recession left the retail real estate market ailing, but the sector exhibited some significant signs of health last year and should continue to recover in 2012.
Guests of the most recent episode of the “Commercial Real Estate Show” provided those observations and others in a detailed look at the market. Topics included retail spending, investment sales activity, landlord-tenant negotiations and the growth of Smashburger, an award-winning, fast-casual restaurant chain………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

The American Securitization Forum returned here after a two-year hiatus for an annual meeting with little of the optimism for a quick turnaround in the market for mortgage-backed securities that had marked previous events.
Instead of predicting how many privately issued mortgage deals would emerge this year, some panelists suggested a better question was whether an organic market would return at any time in the near future………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

Prime rents and yields for European commercial property remained broadly stable in the final quarter (Q4) of 2011, despite continued economic uncertainty and negative sentiment across the Continent, according to new figures released by CBRE.
European prime yields have remained stable for several quarters, moving up by no more than 10 basis points in any property sector throughout 2011, while rents in the office and industrial sectors have risen by less than 1% over the same period………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

Commercial property investment volumes in Central and Eastern Europe (CEE) reached more than €11.2 billion by the end of December 2011 – twice the volume when compared to 2010, according to the latest data from CBRE.
Significant deal flow in Russia during December 2011 pushed CEE property investment volumes over the €10 billion mark, which resulted in the third strongest year in CEE history. The strong finish in the final quarter of 2011 (Q4 2011) confirms the expectations CBRE had at the start of December that several pending transactions would close by the year-end………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

Land Securities Group Plc, the U.K.’s largest real estate investment trust by value, said vacancies at it properties fell after attracting tenants including CBRE Global Investors.
The vacancy rate for like-for-like assets declined to 3.1 percent for the quarter ending Dec. 31 from 3.3 percent in the three months through September, according to a statement by the London-based company today. The rate includes 0.9 percent of temporarily leased space and excludes 0.6 percent where the tenant is restructuring………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

UK house sales fell just 1% last year to 869,000, one of the lowest totals on record, HM Revenue & Customs has said. It means the property market has been in a three-year slump, with sales roughly half the levels recorded in the run up to the banking crisis in 2007.
Sales have been depressed by a combination of mortgage rationing by lenders, and rising unemployment………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

In the year to December 2011, Irish house prices at a national level, fell by 16.7%. This compares with an annual rate of decline of 15.6% in November and a decline of 10.5% recorded in the twelve months to December 2010. Residential property prices in Dublin are 55% lower than at their highest level in February 2007.
The Central Statistics Office (CSO) said residential property prices fell by 1.7% in the month of December. This compares with a decline of 1.5% recorded in November and a decline of 0.5% in December of last year………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

The cumulative gross take-up figures for Prague’s office market for 2011 reached a record 325,564 m², which is almost 52% more than in 2010, according to the latest research from Jones Lang LaSalle.
Eduard Forejt, Head of Office Agency at Jones Lang LaSalle, commented: “The 2011 figures represent the highest gross take-up in the modern history of Prague office market and have exceeded the previous best result from 2006 by more than 40,000 m²,” and he continues, “it is also by almost 100,000 m² higher than 10 years average take-up on the market.”……………………………………….Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

The introduction of a real estate regulatory agency in Oman is expected to instil greater confidence among foreign investors and promote better practices in this growing segment.
Early this month the Council of Ministers took a first step towards getting the agency off the ground: it directed that a committee be formed to gauge the opinions of players involved in the sector to determine exactly what the agency could contribute………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

Leading independent global property consultants - Knight Frank India Pvt. Ltd. announced the launch of their database product “eyestate” that is jointly developed by Knight Frank Research and Indicus Analytics, India’s leading economics research firm.
The product gives information and analysis of the residential, commercial and retail real estate market across the seven major metropolitan regions namely Mumbai, the National Capital Region, Kolkata, Bengaluru, Hyderabad, Pune and Chennai………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

Real estate developers said that RBI’s decision to cut cash reserve ratio (CRR) will help improve the liquidity position of various sectors, including realty, but felt that interest rates should be brought down to boost housing demand.
“The CRR cut will bring in liquidity. It will help the real estate market which is cash starved. However, it is important to see the interest rate shall have to come down to facilitate the home seekers to buy homes,” Confederation of Real Estate Developers’ Association of India (CREDAI) President Lalit Kumar Jain said in a statement………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

Median house prices rose slightly around the country in the December quarter for the first time since late 2010, according to data from Australian Property Monitors.
But it is too early to tell whether the housing downturn has been halted. Prices were steady or rose during the quarter in the country’s two biggest housing markets, Sydney and Melbourne, with the southern capital’s prices up 1.1 per cent from the previous quarter, APM said………………………………………..Full Article: Source

Posted on 25 January 2012 by Laxman |  Email |Print

Australia’s housing bubble is one of the largest in the world. The bad news – for Australians – is that it looks as though it’s on the verge of popping. That could spell disaster for the Australian economy. One pundit reckons that prices could fall by as much as 60%.
The good news is that you could profit from the fallout – I’ll explain how in a moment………………………………………….Full Article: Source

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