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Real Estate Briefing 05.Mar 2012

Posted on 05 March 2012 by Laxman |  Email |Print

Robert ShillerNobody wants to catch a falling knife. It is as simple as that. If potential buyers see continued home price erosion, they will stay parked on the sidelines. But as with everything else in this unique and historic housing market, perhaps the usual logic doesn’t apply.
“Housing is one of the great investments right now. I tell people all the time when they come up to me, they say, “What should I do, Mr. Trump?” I say go buy a house,” said Donald Trump………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

The demand from investors can be roughly bifurcated into two distinct camps: those buying distressed homes to “flip” them for a profit as market conditions improve, and those buying homes and multi-unit buildings for rental income and future appreciation.
The “flippers” are counting on continued demand by non-investor buyers, such as first-time buyers. The rental housing investors are counting on continued strong demand for rentals from those who lose their homes to foreclosure and must now rent, as well as from household formation resulting from population growth………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

Like millions of Americans, Joanne and John Buchanan are facing foreclosure. But at a value of more than $2 million, the home they stand to lose isn’t your average delinquency.
For the Buchanans, it’s the dream house they built from the ground up in a resort community near Breckenridge, Colo., in 2003. It took them almost two years and about $2.2 million to build — and soon they will have to move out………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

Prime real estate in Europe still offers attractive income return prospects, despite a lack of clear outperformance in many markets, according to DTZ.
Of 91 markets covered by the firm’s Fair Value Index, 52 were rated ‘warm’, according to criteria including pricing relative to government bond yields………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

A UK government review into institutional residential investments will not tell the market anything it does not already know.
Adrian Montague, 3i chairman and adviser to the UK government’s nascent Green Investment Bank, has issued a call for evidence of how to encourage greater institutional investment in private-rented housing………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

Luxury-home prices in central London climbed at the slowest rate in five months in February as more owners put properties on the market to profit from 16 months of gains, Knight Frank LLP said.
Values of houses and apartments costing about 3.7 million pounds ($5.9 million) rose by an average of 11.6 percent from a year earlier, the London-based broker said in a report today. Prices advanced 0.7 percent from January and are now 8.9 percent higher than the market’s last low point in March 2009………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

AXA Real Estate Investment Managers saw total transaction volume including completed and signed deals rise to EUR6.2 bn in 2011. Acquisitions totalled EUR2.6 bn, including EUR900 mln of committed development expenditure, compared to disposals of EUR2.1 bn. An additional EUR1.5 bn was committed to loans.
The lending business will remain a key focus area, AXA said. Last week, the Paris-based investment manager announced it has raised a further EUR2 bn on behalf of its pan-European debt strategy, bringing its total investment capacity to around EUR 4.7 bn. AXA has so far invested EUR 2.5 bn in property-backed debt………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

Investors looking to guarantee stable and secure cash flows are driving up the cost of core properties, rather than considering development as an investment option, a new report has found.
The report by consultancy EC Harris also noted that investor interest in German property was biased towards retail, with 58% preferring the sector – more than double those in favour of the office sector, which came a distant second at 26%………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

The IPD Nordic Property Fund Index showed a return of 5.4% to Nordic real estate funds over 2011, well down on the 10.6% delivered in 2010, but much better than the five-year average, which was marginally negative at -0.2% per year.
Following the low point of direct property markets across Northern Europe late in 2009, a similar pattern of returns has also been seen in the UK unlisted market - as shown by the AREF/IPD UK Pooled Property Fund Index………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

The Ministry of Housing is currently working on a system to limit housing rents, local Arabic daily Al-Madinah reported yesterday, quoting a source at the ministry. It said international experts were currently drafting a blueprint of the system aimed at putting an end to the unjustified rise in rents and to organize the relationship between tenets and landlords.
According to the source, the new system would include giving subsidies to the investors planning to build housing units for low-income citizens. He said the ministry would issue rent bonds, which would enable government employees to search for accommodation that would suit their income………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

Home prices in Mumbai could fall by five to 15 per cent in the coming months due to inventory with developers, along with a change in the development control rules (DCR). The new rules are expected to result in a number of project launches in the city.
Although the new DCR curbed concessions to developers and asked them to pay premium for additional development rights, there could be clearance awaiting a number of projects that got stuck for over a year due to lack of clarity in rules, according to analysts tracking the sector………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

The frequent headlines about falling house prices in China could lead an observer to the conclusion that the country’s property market is in trouble. Yet, in the office sector, nothing could be further from the truth.
Years of price rises have made office rents in Beijing more expensive than in midtown Manhattan………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

A Chinese banking regulator on Sunday downplayed risks from the country’s property-related loans, saying the overall risks of commercial banks’ housing lending are “controllable.”
Yan Qingmin, assistant chairman of the China Banking Regulatory Commission (CBRC), made the remarks in an interview with Xinhua on the sidelines of the annual session of the 11th Chinese People’s Political Consultative Conference (CPPCC) National Committee, which opened Saturday………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

According to Colliers International’s Residential Market Research & Forecast Report, both luxury residential prices and rents edged down in 4Q 2011 and are expected to see downward adjustment pressure in 2012.
During the three-month period ending November 2011, the total number of sales and purchase agreements of residential units notably dropped 27.7 per cent quarter-on-quarter (QoQ) to 14,261, according to the Land Registry………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

The private housing market in Singapore scaled new heights in 2010 and 2011 as prices escalated past previous peaks, while the volume of new home sales hit fresh highs.
Though attention was mostly focused on the primary market, the secondary market was also active with healthy price gains. Secondary market transactions of private residential property totalled some 16,357 units last year………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

The Tesco Lotus property fund priced its initial public offering at the top end of the price range in Thailand to raise $602 million, making it the country’s largest listing since 2006.
The company, a unit of U.K.-headquartered retailer Tesco PLC, priced its IPO at 10.40 baht (34 U.S. cents) per unit on Saturday, representing a yield of 6.5%, according to people familiar with the deal. The price range for the IPO had been set at 9.65 baht to 10.40 baht. The fund’s shares will start trading in Bangkok in mid-March………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

A leading real estate industry analyst has expressed concern that the property market isn’t performing as well as hoped, with clearance rates and listings still down on last year’s results and most buying activity centred around the middle and lower-market segments.
In Sydney, the city recorded a clearance rate of 55.3%, while in Melbourne the rate was 62%, although that rose from 61% last week. SQM Research managing director Louis Christopher says these results are discouraging, pointing to results in Sydney where clearance rates have remained relatively steady, but the number of listings has fallen………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

The weekend’s damp weather made for some challenging auctions held among crowds of umbrellas and pouring rain but another clearance rate above the 60 per cent mark delivered relief to agents and buyer advocates.
The Real Estate Institute of Victoria recorded a clearance rate of 62 per cent over the weekend from 797 auctions. Following last weekend’s 63 per cent, some pundits are cautiously describing the market as ‘’stabilised”………………………………………..Full Article: Source

Posted on 05 March 2012 by Laxman |  Email |Print

The recovery of the housing market is much wished for by those in the property industry, but is it really happening in the early stages of 2012? What are the signs? Our industry heads give Gill South their honest take on the sector, which is, on the whole, cautiously optimistic.
Mike Bayley, managing director, Bayleys Real Estate: After two years of seeing ‘false start’ recoveries, affected by such events as the Christchurch earthquakes, the 2011 election, and the precarious state of the European Union, I’m reluctant to predict that a full-scale recovery mode has once again swung back into action………………………………………..Full Article: Source

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