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Real Estate Briefing 26.Jan 2012

Posted on 26 January 2012 by Laxman |  Email |Print

More than half the recent global investment in commercial real estate found a home in just 30 cities with a quarter spent in London, Tokyo, New York, Hong Kong and Paris, according to real estate services company Jones Lang LaSalle.
In a report released on Wednesday, it said it expects major cities in emerging markets to increasingly become viable contenders for real estate investment dollars, expanding its list of 30 “alpha” cities over the decade………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

U.S. businesses will probably pay more this year for property coverage after insurers took losses from natural disasters and investment income declined, Marsh & McLennan Cos.’s insurance brokerage said.
Half of U.S. clients surveyed by broker Marsh Inc. said the cost of property insurance rose in the last six months of 2011, with increases of 10 percent or more among customers at risk of losses from catastrophes, according to a report to be released today by the New York-based company. That trend is likely to continue this year, the broker said………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

President Barack Obama said in his State of the Union speech that he wanted to help struggling homeowners refinance their mortgages. The Republicans who want his job say the government should get out of the way of the housing market.
But as the housing crisis takes center stage in the campaign, a growing number of experts say neither approach is potent enough to cure falling prices, depressed construction and waves of foreclosures………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

The number of Americans signing contracts to buy previously owned homes in December held near a 19-month high, showing the stabilization in the market that began in late 2011 will extend into the new year.
The index of pending home sales decreased 3.5 percent last month after jumping a combined 18 percent in October and November, figures from the National Association of Realtors showed today in Washington. It was the best back-to-back reading since a buyer tax credit boosted demand in early 2010………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

The housing market is falling back again after hitting its best level for a year-and-a-half late last year. Contracts signed by Americans to buy homes fell by 3.5 per cent in December after hitting the landmark high in November - but they were still at the second-highest level since April 2010.
The National Association of Realtors’ index of sales agreements fell last month to 96.6, down from November’s reading of 100.1 - with a reading of 100 considered ‘healthy’ by the organisation………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

With the tech boom building momentum, Silicon Valley companies are on the hunt for space equal to nine shopping malls. That was the highlight conclusion of a conference Tuesday organized by realty brokerage Cornish & Carey Commercial Newmark Knight Frank. The gathering heard brokers present a robust outlook for the Bay Area economy and the region’s commercial real estate sector.
“We had a lot of tenant demand in 2011, and there is still more tenant demand coming,” said Phil Mahoney, an executive vice president with Cornish & Carey………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

New research shows real estate investors and fund managers agree the biggest challenge in 2012 will be raising new capital but also highlights disparity over other key fundraising issues.
INREV’s annual Investment Intentions Survey found that ‘the ability to raise capital’ was deemed to be one of the ‘most challenging obstacles for fund managers of non-listed real estate funds in the next 12 months’ by 63% of investors and 69% of managers………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

The European listed property sector is expected to continue to trade at a ‘wide discount’ to Net Asset Value this year after having lost as much as 10% over 2011.
‘Real estate is perceived as being part of the financial industry and as such it very much depends on the banking sector and the availability of credit. That’s why stocks continue to underperform,’ said Céline Donnet, an analyst with financial group Petercam in Brussels………………………………………..Full Article: Source

Posted on 26 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. Of particular note was the closing of the Galeria center, a large mall in St. Petersburg, for over €800 million………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

Multinational companies, especially those in the technology sector are expected to be the main drivers of the Dublin office market in 2012, building on the mom- entum seen in 2011 when they accounted for half of the office take-up.
This is the view of Jones Lang LaSalle in their outlook for the Dublin market. The agents attribute this demand to the attractiveness of Ireland for low corporation tax, its young educated workforce, choice of property, flexible lease terms, low rental levels and increased incentives which together combine to create a competitive business environment………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

Germany and Scandinavia are the most favored investment locations in Europe for unlisted real-estate funds because money managers perceive them as more likely to weather the recession threatening the region, according to survey published today.
German retail properties were the top pick for a second year in an annual survey of 121 investors and money managers by the European Association for Investors in Non-Listed Real Estate Vehicles, or Inrev. The respondents own or manage 1.66 trillion euros ($2.16 trillion) of assets. Around 64 percent of them said German retail is their preferred location and industry………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

Switzerland’s financial markets supervisor is stepping up its focus on the country’s booming housing market to try and avoid a potential price bubble developing, it said Wednesday.
The Swiss property market is currently enjoying a boom as historically low mortgage rates and the migration of cash-rich migrants spur demand for houses and apartments, pushing prices, particularly in prime lakeside locations in Zurich and Geneva, sharply higher………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

The December RICS/ Ci Portuguese Housing Market Survey (PHMS) reports that the Portuguese sales market remains subdued, with demand, supply and prices continuing to fall.
Despite that drop, sales activity fell at a slower rate than November. The National Price balance moved from -70 to -66, while the National Confidence index improved slightly, from -60 to -52. With new vendor instructions continuing to fall (supply), house price declines are being driven primarily by anaemic demand………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

Last month the prices at the primary market of Baku decreased by 0.3%. Public Organization “Property Market Participants” reports that the market was proposed only one new building and another one left the market fully in December 2011.
“With the reduction in prices by 0.3% the price of housing square meter at the primary market reached 825.2 manats against 827.7 in November 2011. By January 2011 the prices fell by 2.7% and by the beginning of the crisis period (September 2008) by 30.9%,” it was informed………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

The boom in Kenya’s real estate a few years ago made property developers plunge in without considering market fundamentals such as the fact that property cannot easily be liquidated. Therefore, some investors are now stuck with property for which they are still repaying loans.
The speculative wave that has been evident in the real estate market is dying away, as market fundamentals become realistic. Developers are now finding themselves with property they cannot sell and are facing foreclosures as banks seek to recover unpaid loans………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

Property deals went into cold storage on the coldest Lunar New Year in 16 years. Over the five-day long weekend, there were only a few transactions in the primary and secondary markets. There were no new deals at The Coronation in West Kowloon, where sales have been high, while one unit in Chatham Gate in Hung Hom was reserved.
In the past two months, 620 apartments have been sold at The Coronation and 80 were offloaded at Chatham Gate………………………………………..Full Article: Source

Posted on 26 January 2012 by Laxman |  Email |Print

Many companies in Vietnam were dealt a harsh blow by the real estate market slump last year. Singapore property developer Keppel Land, though not completely untouched, has weathered the downturn well. Linson Lim, President of Keppel Land Vietnam, is confident that the market will recover soon.
Lim, who says Vietnam’s growth has been resilient, speaks about the long-term strategies of his company and sheds light on a social housing project developed under a public-private partnership – a relatively new model in the country………………………………………..Full Article: Source

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