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Real Estate Briefing 27.Jan 2012

Posted on 27 January 2012 by Laxman |  Email |Print

Commercial property sales rose 57 percent to more than $220 billion U.S. last year, led by retail properties and garden apartments, Real Capital Analytics Inc. said in a report today.

More than 14,700 properties, each worth at least $2.5 million, changed hands in 2011, the New York-based real estate research firm said. Retail-property transactions rose 91 percent from a year earlier to $42.4 billion, and sales of low-rise apartments increased 70 percent to $34.5 billion. Manhattan accounted for 12 percent of total deal volume……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

President Barack ObamaThere is no respite from the gloom in the US housing market, where the number of new homes sold unexpectedly fell last month and prices remain down on the previous year. The disappointing data came a day after the Federal Reserve cited the depressed housing market as a key reason it plans to keep interest rates at zero for almost another three years.

The Commerce Department said yesterday that sales of newly built homes fell 2.2 per cent in December to an annualised rate of 307,000, bringing to a halt three months of modest rises……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

Sometimes it takes the interaction of powerful forces for things just to stand still. So it is with Britain’s housing market, which lenders expect to remain characterised this year by low levels of transactions and stable prices. But, quietly, the property market is being transformed.

The forces bearing down on housing are obvious enough. Home sales have fallen sharply since the start of the financial crisis, to around half their 2007 levels. That reflects greater conservatism on the part of lenders—“We don’t assume that home prices will go up, a mistake everyone made in the past,” says one—and of borrowers worried by an uncertain economic outlook at home and endless euro-crisis headlines……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

Just 302,000 new homes were sold in 2011, 6.2% below 2010 and the lowest number of annual sales since the government started tracking home sales in 1963. In December, sales of single-family homes fell 2.2% month-over-month to an annual rate of 307,000, according to estimates released by the Census Bureau and the Department of Housing and Urban Development.

A consensus of experts from Briefing.com had forecast an annual rate of sales of 321,000 for December. The actual result was a 6.9% decline from 12 months earlier, when homes sold at a 329,000 annual rate……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

The country’s improving economic fortunes bode well for the residential real estate market in 2012, said Dave Liniger, chairman and co-founder of RE/MAX. His comments follow last week’s Illinois Association of Realtors’ (IAR) release of 2011 home sales. However, those figures were not good for Cook County, which saw a dip in home sales in 2011 compared with 2011.

Based on the recovering economy, the leader of RE/MAX recently predicted a continued rebound in the nation’s housing market this year……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

According to data released by the Canadians Real Estate Association, more Canadians were able to purchase new homes in December 2011, with homeownership rates up by 1.8%. Meanwhile sales for 2011 reached a total of 456,749 which is an increase of 2.2%.

New listings increased by 3%, but property prices rose by just 0.9% year-on-year……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

European real estate investment is set to dip slightly in 2012 due to ongoing uncertainty in the global financial markets, according to a new research report issued by DTZ. In its European Investment Market Update, the London-based division of UGL Services said transactional activity is expected to slow down modestly this year, to EUR 107 bn.

‘Looking forward, uncertainties in global financial markets are starting to impact investor sentiment as efforts continue to contain the European banking and sovereign debt crisis. Given this more negative sentiment we are forecasting that volumes will register a small fall in 2012,’ said Magali Marton, head of DTZ CEMEA Research……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

Capital flows into European retail property continue to follow economic performance, with Germany and those markets positioned outside of the eurozone clear favourites with investors, according to the latest data from global real estate adviser CBRE.

European retail property investment amounted to EUR 9.4 bn in the final quarter of 2011 (Q4), compared to EUR 11.7 bn in the same period a year before. In total, some EUR 37 bn of retail assets were traded over the course of last year, representing a record share of Europe’s overall commercial real estate investment market, just over 2010’s record of 32% on the pan-European level……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

Foreign investors widening their search for prime properties helped push the 2011 transaction volume for Central and Eastern Europe to more than EUR 11 bn - double that of the previous year, according to CRBE. PropertyEU’s analysis of EUR 20 mln-plus deals during the fourth quarter tracked more than EUR 1 bn of activity by cross-border investors in the region.

The deal in Poland, for instance, involved Qatar’s sovereign wealth fund QAI buying the new Warsaw headquarters for telecoms group Telekomunikacja Polska from developer Bouygues for EUR 90 mln……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

A “generational divide” in the property market is likely to cause further subdued sales this year, with young people unable to buy and older home owners unwilling to sell, a study has found.One in 10 Britons would consider moving home or trying to get on the housing ladder in the next six months, the HSBC Moving Home Survey said.

The study found that older people in households which planned to stay put were more likely to be content with their current property, whereas younger people were finding themselves unable to move because of concerns relating to the weak economy……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

Direct real estate investment in the four main markets in the region - Sweden, Norway, Denmark and Finland, generated total volumes of EUR 19.6 bn last year, according to figures provided to PropertyEU by real estate advisor Catella.

This compares to EUR 21.2 bn the previous year, though some deals completed in the last days of December 2011 may not have been reported yet……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

All signs are pointing to a stagnant UK mortgage market in 2012, new research suggests.The generational divide in the UK property market is likely to cause housing stagnation in 2012, with young people unable to buy and older homeowners unwilling to sell, according to HSBC.

The constraint on new property coming onto the market – cited as one of the main reasons why house prices held relatively firm in 2011 – looks as if it will continue in 2012, with just 12% of people thinking about moving or getting on the property ladder over the next six months……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

There continues to be an appetite among investors for luxury real estate in Spain. Lucas Fox International Properties announced this week that 2011 was its “most successful operational year to date”, with the firm citing its strong client base and portfolio of desirable assets among the factors that have helped it perform well.

Aimar Valls, head of commercial and investment property at the organisation, commented: “In the last year we have received a dramatic rise in both the quantity and quality of enquiries for commercial and investment property.”………………………………………Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

Residential property prices are likely to continue to drift sideways this year, impacted by poor economic growth, according to bond originator, ooba. But ooba chief executive Saul Geffen said with interest rates remaining at historically low levels, which may drop further in 2012, home buyers and home owners would continue to benefit.

Geffen said that 2011’s third quarter economic growth figures had confirmed that SA had once again had little real economic growth, which should mean further pressure on the fragile labour market and negative real disposable income growth……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

Mumbai’s residential home sales dropped to a three-year low in the quarter ended December as record home prices and higher interest rates crimped demand, according to Liases Foras Real Estate Rating & Research Pvt.

Sales in Mumbai, India’s most expensive property market, fell 17 percent from the previous quarter to 7.59 million square feet, said Pankaj Kapoor, founder of Liases Foras. The city’s unsold inventory, or the number of months needed to clear stock at the existing absorption rate, climbed to 44 months. A “healthy market” normally maintains about eight months of inventory, according to Kapoor……………………………………….Full Article: Source

Posted on 27 January 2012 by Laxman |  Email |Print

With the effect of recession ebbing, the real estate and construction industry recovered in few US markets and witnessed strong resurgence in Canada and China. However, a number of owners of commercial or home properties are expected to continue facing difficult conditions as the value of properties is still below the cost of purchase, and various mortgage debts are at higher levels than the value of underlying properties.
Commercial mortgage foreclosures and delinquencies are also expected to continue affecting the industry. On a corporate level, the industry is expected to witness consolidation of development and construction firms, which would primarily focus on debt reduction, cost control, as well as risk management. Investments in transportation, education facilities, highways, healthcare facilities, and government offices would provide opportunities to commercial construction firms. (Press Release)

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