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Real Estate Briefing 09.Mar 2012

Posted on 09 March 2012 by Laxman |  Email |Print

Michael BoxerMore capital is needed for commercial property borrowers as $1 trillion in debt matures over the next three years, according to Michael Boxer of investment firm Ramius LLC. Refinancing won’t be possible for 77 percent of loans arranged during the height of the property boom, said Boxer, a Ramius partner.
That will leave a “very big gap,” that needs to be filled, said Boxer, head of real-estate related investments at the New York-based firm, which manages $10.3 billion including more than $2 billion of property assets………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

After several false starts, housing is flashing the strongest signals yet of a sustainable rebound. Buyers are wading back into the market, spurred by rising employment and record-low mortgage rates. Six years into the biggest real estate collapse since the Great Depression, housing may become a net contributor to the U.S. economy for the first time since 2005.
“There are definitely green shoots in the housing market, no argument about that,” says Peter de Bruin, an economist at ABN Amro Group Economics in Amsterdam………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Real estate is a billion-dollar business in 17 U.S. markets. There are 333,600 real estate firms in the nation’s 843 markets, employing 1.97 million workers.
The sector’s average annual salary is $40,300. The top pay levels (in any market with at least 1,000 real estate firms) are $56,600 in Bridgeport-Stamford, Conn., $55,000 in Boston and $54,200 in San Francisco-Oakland………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Both low housing prices and a weak U.S. dollar have made American real estate an enticing bargain for foreigner investors who currently own about 10% of the U.S. luxury home market.
A recently introduced U.S. Senate bill that would grant residence visas to foreigners if they spend at least $500,000 on residential housing in the U.S. could increase that number substantially………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Europe has seen the smallest decline in capital available for investment in commercial real estate over the past year, despite attracting relatively low levels of new capital, according to DTZ’s ‘Great Wall of Money’ report.
The 3% decline to $108bn (€82bn) stands against a 9% global decline in capital available for investment in commercial real estate to $298bn, largely as a result of a 12% reduction in available debt………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Ireland and Spain, the two countries synonymous with Europe’s property crash, have become lands of opportunity for real estate investors, says delegates at the MIPIM property conference in Cannes, France.
Though most investors are targeting the best areas of Frankfurt, London and Paris to shield cash from the euro zone sovereign debt crisis, Ireland and Spain have dealt with their problems to such an extent they are attracting investors over other debt-laden countries like Greece, Italy and Portugal………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

International real estate advisor Savills expects new supply across European office markets to remain low in 2012 keeping supply and demand in balance and averting a double dip scenario, especially for the core European markets.
The firm forecasts that low supply will lead to a further decline in overall vacancy rates to 10.4% in the first quarter of 2012. In terms of new supply Savills forecasts that completions in 2012 will be 35% lower than in 2010………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

U.K. house prices rose the most in four months in February as first-time buyers looked for homes with “urgency” before a property-tax exemption ends in March, Acadametrics Ltd. and LSL Property Services Plc (LSL) said.
The average price of a home in England and Wales rose 0.2 percent from January to 219,844 pounds ($347,900), the groups said in an e-mailed report in London. From a year earlier, values fell 1.8 percent, the quickest pace since July………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Simon Property Group (SPG) has acquired a 28.7% stake in French retail REIT Klépierre from BNP Paribas for EUR 28 per share, or a total transaction value of around EUR 1.5 bn.
The deal is expected to close next week, SPG said on Thursday. The US company, which is the largest owner of American malls and outlet centres, has no current intention to acquire additional shares in Klépierre………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Last year property prices in South Africa fell by 2.6%, a disappointing result, especially as prices rose 2.7% in 2010, and a far cry from the boom years of 2000 – 2006 when prices grew by an average of 20% every year.
Property price growth reached its peak in October 2004, with annual growth of 32.5%. However in 2008 the boom came to an abrupt end in the wake of the global financial crisis. In 2010 prices briefly recovered which was partially due to South Africa hosting the FIFA World Cup, but any real recovery was held back by worries over economic growth and rising inflation………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Iranians are turning to real estate to protect savings, helping fuel a building boom in the capital, as international sanctions weaken the rial and the government curbs foreign- currency and gold purchases.
Iran’s economy is being squeezed by tougher sanctions imposed this year by the U.S. and European Union, which say they are needed to restrain the Islamic republic’s nuclear program. Iranians stepped up purchases of gold, dollars and euros as hedges against the threat to stability………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

For Qatar’s real estate sector, 2012 is expected to be much the same as the preceding 12 months, with most forecasts projecting a year of steady progress, though there are concerns that oversupply in some segments could keep prices down in the short term as the flow of new developments more than matches current demand, Global Arab Network reports according to OBG.
A recent report by property consultancy Asteco said that while rents for residential properties had been broadly stable in the last quarter of 2011, there had been a healthy increase in the number of transactions and enquiries, a trend it expected to continue into the new year………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Qatari Diar Real Estate Investment Company, an international leader in sustainable development, yesterday officially unveiled its new worldwide strategic brand platform “Qatari Diar: The Art of Real Estate” at the start of the three-day MIPIM 2012 being held in Cannes, France.
The new identity reflects the distinctive values of the Middle East’s most influential and innovative real estate company and underpins the ambitions the Qatar-based company has set for its next phase of developments around the world. Qatari Diar is currently developing or planning 49 projects in 29 countries, with a combined value of over $35bn……………………………………….Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Asia Pacific continues to lead the way for commercial real estate investment with 33 per cent of investment capital expected to come from outside the region, according to the DTZ Research. Titled ‘The Great Wall of Money’, DTZ’s latest data shows increased levels of cross border investment into Asia Pacific as well as Europe, Middle East and Africa (EMEA) during 2012.
While Asia Pacific continues to be a bright spot for investment, capital available for investment this year has declined 6 per cent to US$298 billion from an estimated US$316 billion as of mid-2011………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Tough operating conditions and heightened refinancing risks in China’s property market are pushing more developers closer to their downgrade thresholds, Standard & Poor’s Ratings Services said in a report on Thursday.
In the report titled “The Worst Is Yet To Come For Chinese Developers In Asia’s Shaky Property Sector,” S&P warned that more credit downgrades are likely in the next six months………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

The property market in the Chinese mainland has gone through the worst time, and both transaction volumes and prices are expected to pick up in the second half of 2012, Jing Ulrich, managing director and chairman of global markets, China at J.P. Morgan said in Hong Kong Wednesday.
Ulrich said during the “CFA Institute Asia Pacific Investment Conference” held on Wednesday that the developers in the Chinese mainland has about 12 to 14 months of unsold inventory, with the transaction volumes early on having crashed by about 50 to 70 percent, indicating the property market may remain “sluggish” in the next several months………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

China’s housing market has come to a crossroads. While there is a high expectation that housing should be more affordable, with rapid urbanization increasing the demand for housing the real challenge is the provision of housing for the medium and low-income population.
The issue of housing is thus being hotly discussed in the ongoing annual meetings of the National People’s Congress and the Chinese People’s Political Consultative Conference………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Singapore ranks among the world’s top five in terms of residential property price growth, said a report released on Thursday. According to the Global House Price Index by Knight Frank, Singapore saw home prices increase by 50.5 per cent over the last five years, the fourth highest increase globally.
Over the same period, China topped the list with a 110.9 per cent increase in home prices followed by Hong Kong (93.7 per cent) and Israel (54.5 per cent)………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Taiwan was ranked the world’s 15th most active nation in commercial property transactions last year, rising three notches from a year earlier, as the investment needs of domestic life insurance companies pushed the trading volume to a record high, Jones Lang LaSalle said.
The international real-estate consultancy said it expected the boom to extend into this year as life insurance firms are eager for more properties with rental incomes in popular locations………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Australian house prices could decline by more than 5% in 2012 if China’s economy experiences a soft landing with GDP growth at about 8%, according to Standard & Poor’s. But in the event of the less-likely scenario, under which China’s economy slows to 5% GDP growth, Australia could be sent into recession.
China’s hard landing likely flow-on effect of higher unemployment could trigger a sharp decline in Australian house prices of 20% or more, according to S&P who rate the prospect of a hard landing happening at 10%………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Given the slightly improved economic picture, and mild declines in unemployment, many investors may assume that housing would finally be back on track. However, the U.S. residential property market has been mixed at best as recent readings of the S&P Case Shiller Home Price Index showed month-over-month declines of about 0.5% while year-over-year prices tumbled by about 4% in comparison.
This data contrasts sharply with some of the other housing figures investors have seen lately—specifically, inventory levels and existing home sales—which suggested to some that a recovery was finally underway in the sector………………………………………..Full Article: Source

Posted on 09 March 2012 by Laxman |  Email |Print

Vedran Vuk, Casey Research writes: Recently, my parents were considering purchasing some real estate. As the financial professional in the family, they asked me, “What do you think? Will it go up in value? You know… not now, but eventually?” I’ve heard the same thing over and over again.
In response, I shared my opinion: “Would you pay the current market price to live there even if its value never increased?” If the answer is yes, buy the property.” Essentially, is the house worth it as a home, not as an investment?……………………………………….Full Article: Source

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