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Real Estate Briefing 02.Mar 2012

Posted on 02 March 2012 by Laxman |  Email |Print

The reanimation of America’s housing market has been a long time coming. Residential building last contributed positively to growth in 2005. Housing-construction employment has dropped 43% since then. Government efforts to resuscitate the market have flopped. Yet tantalising signs of a durable recovery are emerging at last.
The National Association of Home Builders’ index of builder confidence rose for a fifth consecutive month in February, to its highest level since May 2007. Sales of previously-owned homes rose 4.3% from December to January. The housing overhang is receding. The number of homes for sale dropped 21% in the year to January, to just over six months of supply—a “normal” level………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

There are growing indications that the US residential real estate sector is beginning to recover. According to director at Mayfair International Realty Annette Reeve, many investors in the US are “fed up of sitting on their hands” and are therefore keen to make property purchases.
She added “people’s money is favouring bricks and mortar”, citing the low interest rate, concerns over the performance of the stock market and the general feeling that house prices in the country have reached the bottom as factors contributing to the growing interest in real estate………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

Investors will be able to bid for nearly 2,500 repossessed US properties owned by government-controlled mortgage giant Fannie Mae in a pilot programme tailored by the Obama administration to avoid further depressing the housing market.
The housing financier is seeking through the initiative, detailed on Monday by the Federal Housing Finance Agency, Fannie Mae’s regulator, to sell a portion of the roughly 120,000 foreclosed properties it holds on its books to investors. Buyers must agree to rent out the properties to their occupants rather than immediately selling them on the open market………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

Nationwide figures suggest UK housing market is reviving, but building society says rise could be temporary. House prices increased by 0.6% in February, according to the Nationwide building society, supporting indications that the housing market is going through a revival.
The increase took the annual change to 0.9%, compared with 0.6% last month, and means the average price of a typical home in the UK is now £162,712………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

Poland is Europe’s sixth largest economy and is still benefiting from strong demand. Because it has yet to join the Euro, it has been able to devalue the local currency in order to maintain competitiveness. Last year the Polish economy grew by 3.8%, it is predicted to grow by 2.5% this year and by 2.5% in 2013 according to the OECD.
Although local consumption is expected to slow, it is also expected that exports will help compensate for this week demand, reducing the budget deficit from its current 5.3%………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

According to the primelocation.com’s chart of the “top property destinations for overseas homes”, searches run by UK residents on property in the UAE increased by 47 per cent in the last quarter of 2011, making it compare favourably to destinations such as Spain and Cyprus, which were both down by 15 per cent.
And, with property experts predicting that prices will recover most this year in quality developments such as Downtown Dubai, the Palm Jumeirah, Arabian Ranches and Emirates Living areas such as the Springs and Meadows, it could be just the right moment to sink some cash into an established community………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

Global economic uncertainties have affected India’s economy, including the real estate market. A survey on the real estate outlook for 2012 by 99acres.com, revealed mixed sentiments with almost 56 per cent brokers and builders expecting the demand for new property to rise over the year.
At least 33 per cent say that the demand for resale property will move up, while 26 per cent of them feel that people will not buy property and things will not change much………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

In the hyper-driven world of advertising, literally nothing has escaped the phenomenon of ‘branding.’ In the world of real estate development, whole question of how important builders’ brand names are on the property market should be examined in greater detail.
For practical purposes, a branded builder is one whose projects are selling well on the basis of reliable construction, imaginative designs, and provision of desirable amenities, good project locations and honesty in dealings. The creation of a credible brand image requires positive feedback from existing customers and a good market reputation as far as delivering consistent quality and value is concerned………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

What do a luxury Chinese apartment tower, a workers’ dormitory, a low-income housing block and an empty field have in common?
They all qualify as affordable housing projects under a government scheme that policymakers hope will cool popular anger over high housing prices, and that analysts are counting on to keep China’s property sector afloat………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

Housing prices in 100 major cities in China fell for a sixth consecutive month in February on a sequential basis, and analysts say prices could slip further as Beijing’s property tightening policy remains in place.
The decline in prices picked up pace in February, showing that China’s housing market still faces a darkening outlook amid falling transactions, and pressuring cash-starved developers and local governments………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

On the sandy plains east of Beijing, The World is in trouble. The property development was supposed to bring five continents, in the form of artificial islands, to scrubby farmland near the booming city of Tianjin.
Instead, the project, which is about three times the size of New York’s Central Park, exemplifies both the excesses and more recent sharp downturn in China’s property market………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

Chinese real estate has been seen as such a quick and lucrative investment that a special term, “chao fangzi” or “stir-frying houses,” was invented to describe property speculation. But the new consensus is that things got too hot too quickly, and both Chinese regime authorities and major players in the real estate market are trying to stabilize what some are already calling a bubble waiting to burst.
Indeed, Chinese economists like Mao Yunshi publically admit that they see a real danger of any sudden fall-out in the housing market expanding into a larger economic downturn………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

Hong Kong residents belonging to the elite, millionaire circle are still not keen increasing their property investments this year, according to a Citibank consumer survey recently released indicating the investment trends of the Chinese city’s affluent class.
The survey said that 40% of the wealthy Hong Kong residents with at least a million in liquid assets cited that their preferred investment is in currency-related deposits because of the relative strength of the yuan or renminbi………………………………………….Full Article: Source

Posted on 02 March 2012 by Laxman |  Email |Print

Home values have turned a corner after months of declines, with new research showing prices on both units and houses rose last month. Capital city dwelling values, a measure that combines prices on houses and units, improved by 0.8 per cent during February, according to RP Data-Rismark’s home value index.
The result follows a 1 per cent fall in capital city home prices in January when far fewer homes were for sale………………………………………….Full Article: Source

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