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Real Estate Briefing 06.Mar 2012

Posted on 06 March 2012 by Laxman |  Email |Print

Many pension funds may be feeling pain in a low yield world, but one fund is turning the tables. Steve LeBlanc senior managing director for the teacher retirement system of Texas tells us that his fund is outperforming the S&P, largely by partnering with private equity. “We share our best ideas and they share their best ideas,” he says.
Although the specifics are somewhat complex, the core idea is relatively simple. “We can lock up capital for a longer-term,” explains LeBlanc. In fact, when LeBlanc partners with private equity, a typical investment will have a time horizon of 5-7 years………………………………………..Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

The Obama administration will extend mortgage assistance for the first time to investors who bought multiple homes before the market imploded, helping some speculators who drove up prices and inflated the housing bubble.
Landlords can qualify for up to four federally-subsidized loan workouts starting around May, as long as they rent out each house or have plans to fill them, under the revamped Home Affordable Modification Program, also known as HAMP, according to Timothy Massad, the Treasury’s assistant secretary for financial stability………………………………………..Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

Fitch Ratings reduced its forecast for a further decline in U.S. home prices to 9.1% on Monday from 13.1% last quarter, indicating a better outlook for a rating firms whose assessments are crucial to issuers of mortgage-backed securities.
Fitch’s model is used in developing required levels of credit enhancement, a form of protection, for senior investors in private residential mortgage-backed securities. The market has been mostly shuttered since mid-2008, however, as investor confidence has been slow to return and because requirements of high credit enhancement have limited the profits available to issuers………………………………………..Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

The American property industry has a lot to answer for. Dodgy subprime mortgages caused the financial crisis, costing taxpayers billions in bail-outs. And the bursting of the house price bubble has hammered the US economy.
However, many now claim that the worst may now be over. Warren Buffet recently said that “housing will come back – you can be sure of that”. With unemployment falling, there is even hope that people will start buying homes again………………………………………..Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

According to CBRE’s Winter 2012 Snapshot on the Manhattan hotel real estate market, Manhattan’s hotel market has a reason to celebrate.
“Manhattan hotel investment sales rebounded significantly in 2011, and 2012 is expected to be a strong year as well,” said Bradley Burwell, senior associate, CBRE Hotels. “Fundamental lodging performance remains strong, and despite the addition of more than 4,100 units in Manhattan in 2011, occupancy remained constant at 84%, clearly showing that the city can continue to absorb new supply.”……………………………………….Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

Canada ranks “in the middle of the pack” on the global real estate froth scale, Bank of Nova Scotia says in a new look at housing markets around the world.
“The global housing boom which began in the mid- to late-1990s and extended through the mid- to late-2000s was notable in its breadth, strength and longevity,” economist Adrienne Warren says, and has taken different paths across different markets………………………………………..Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

While demand for European high-end property has held up in the face of economic turmoil, the lower end of the residential property market has not fared so well. But a handful of European institutional investors have spied opportunity amid the mid-market residential gloom.
They are putting in place strategies to target suburban properties, far from the prime real estate of urban centers. And the U.K. rented sector is in their sights. In particular young professionals who earn too much to qualify for social housing but cannot afford to buy their own homes. The so-called “rentysomethings”……………………………………….Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

The wealthy investors behind Europe’s leading family offices are seeking to “re-shape” the way they engage with the European property market, with the aim of securing higher returns ain a transparent way, and at lower cost than traditional property funds.
A group called FORE - Family Office Real Estate - is to launch a platform through which family offices can invest together and directly in commercial real estate………………………………………..Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

Jones Lang LaSalle has analyzed the presence of 150 leading international retailers within 55 European markets and created an index of the top 10 most attractive cross-border retail destinations in Europe.
The index reveals that London attracts the greatest number of international retailers, whilst the US ranks number one as the biggest exporter of retail formats. Against the backdrop of a volatile economic climate, retailers’ expansion strategies have sight on the longer term and targeted expansion is still underway………………………………………..Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

Paris has leapfrogged London to become the most expensive capital city to rent residential property, according to research released today by estate agent Savills. The World Class Cities index, which analyses the cost of renting and buying in the world’s top 10 cities, shows the average cost of renting increased by 2.3 per cent in the second half of 2011, outpacing the rise in underlying house prices.
Rental growth in the so-called new world cities of Hong Kong, Shanghai, Singapore, Mumbai and Moscow slowed in the second half of the year to 1.8 per cent despite growing faster than old world cities since 2005………………………………………..Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

Italians have replaced Russians as the biggest foreign group buying luxury London homes. Research by property firm Knight Frank discovered that Italians accounted for 7.3% of all purchases in January and February.
It represents a significant increase on the 2.1% of transactions made by Italians in the same period last year………………………………………..Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

China hopes to complete 5 million units of low-income housing this year and start construction of another 7 million units as part of an effort in improving people’s living conditions, a report said.
The government’s work report was delivered by Premier Wen Jiabao at the parliament’s annual session Monday………………………………………..Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

China’s property prices and sales will likely continue to be squeezed by the country’s tightening measures since the government indicates these curbs will continue, two Chinese property developers said Monday.
Premier Wen Jiabao said Monday in his annual work report that China will continue regulating the real-estate market and strictly enforce policies and measures discouraging speculative or investment-driven housing demand. These are aimed at reducing property prices to reasonable levels………………………………………..Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

China will continue to regulate the real estate market to bring down property prices to a reasonable level, said Premier Wen Jiabao at the opening of the annual parliamentary session Monday.
“We will strictly implement and gradually improve policies and measures for discouraging speculative or investment-driven housing demand, build on progress made in regulating the real estate market,” said Wen when delivering his government work report at the Fifth Session of the 11th National People’s Congress (NPC)………………………………………..Full Article: Source

Posted on 06 March 2012 by Laxman |  Email |Print

The government has stepped up efforts to open the real estate market of late, by attracting investments in low-income housing for poorer residents; however there is still a lot to be done in this sector.
According to economic experts, for successful restructuring of the real estate market, the government should support a switch from luxury housing to low-income housing, as well as warn businesses against depending too much on capital from banks………………………………………..Full Article: Source

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