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Real Estate Briefing 13.Mar 2012

Posted on 13 March 2012 by Laxman |  Email |Print

The U.S. housing crisis has thrown the market for single-family homes into disarray, with millions of foreclosures and a weak economy hampering stifling demand and boosting supply. While much of the focus is on that segment of the housing market, the apartment space is almost the complete opposite.
Demand is strong and supply weak, with the National Association of Real Estate Investment Trusts reporting a shortage of 2.5 million rental units………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

Shaun DonovanFinal details were filed in federal court Monday in the $26 billion settlement to help struggling homeowners and settle charges against big banks of abusive and negligent foreclosure practices.
The Department of Justice filed five separate consent agreements, each more than 300 pages, between 49 states, federal agencies and the largest bank servicers……………………………………….Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

Home shortage in Las Vegas? Yes, for foreclosures Realtors say: “House hunters can’t be as picky in Las Vegas today as they were a year ago, especially if they’re looking for a bargain on a foreclosure home. There’s actually a shortage of those homes, roughly one month’s supply at current sales levels, local Realtors say.”
Las Vegas Home sales, prices rise; inventory dips: “Sales of single-family homes in Las Vegas and their median price increased in February from the previous month, while the inventory of homes available for sale continued to decline, the Greater Las Vegas Association of Realtors reported………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

I would hate to have happen to you what happened to me, so let me tell you what it was like to own a home in the United States when the market crashed. Two things occurred in the past two weeks that have me spooked on the housing market.
The first was Maclean’s magazine’s Feb. 28 cover story, “Time to panic about the housing market.” Not too subtle. The cover showed a house on fire. The subtitle read, “Why is everyone ignoring this unfolding disaster?”……………………………………….Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

Investors at INREV’s recent Cannes Seminar on the growing menu of alternative non-listed products said that the quality of underlying assets is the key driver behind their non-listed real estate investment strategies.
Investor interest in alternative products – such as JVs, club deals, real estate debt funds and infrastructure funds - has soared in the wake of continuing economic turmoil. But investors still consider assets ahead of the type of alternative product they select to invest in………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

It was launched with great fanfare to help first-time buyers but the Government’s £1bn scheme may do more harm than good in such a volatile economy. The flat housing market of recent years has thrown up a generation of first-time buyers who can’t afford to clamber on to the property ladder.
The government has now revealed its attempt at a solution to this seemingly intractable problem. The NewBuy Guarantee, the latest government plan to boost the housing market, was yesterday trumpeted by David Cameron as being “a vital boost to the housing market” which will help up to 100,000 first-time buyers………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

Royal Institution of Chartered Surveyors says estate agents expect stronger activity to translate into higher prices.
Property transactions are at their highest level for 18 months as first-time buyers seek to complete home purchases before the stamp duty holiday expires at the end of March………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

More home owners are being forced to move out and let their property to tenants. Britain is fast becoming a nation of “accidental landlords” as home owners let out properties they cannot sell. However, lenders are toughening up on the “let-to-buy” market, which could leave unwary landlords vulnerable.
Figures from the National Landlords Association (NLA) show that the number of its members who had been forced into letting because they could not sell a property had risen from 5pc to 7pc by the third quarter of last year ……………………………………….Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

UK commercial property values slipped in February compared with January despite an improved performance from Central London offices, according to CBRE’s latest Monthly Index.
Total returns came to 0.1% as capital values fell by 0.4%, with valuations down across nearly all market sub-sectors………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

French real estate investment volumes are expected to decline by 20-30% this year due to the end of tax breaks for vendors to SCPI and OPCI investment vehicles, according to property adviser Jones Lang LaSalle.
‘Last year the market was driven by the abolition per year-end of a tax advantage which favoured local players at the expense of foreign investors,’ Stephan von Barczy, head of Capital Markets France at JLL said………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

A growing trend of supermarkets offering online food shopping and self-drive pick-up in France will boost the number of retail warehouses there by 30% to 1,300 in 2012 from 1,000 in 2011, according to property adviser Savills.
The number of warehouse properties built or refurbished purely for e-commerce services is expected to almost double to 300 in 2012 from 180 in 2011, suggesting that the trend is driving turnover of major French hypermarket retailers such as Auchan, Leclerc and Carrefour………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

The German government may start the sale of its real-estate management company as early as next month, aiming to raise more than 1.76 billion euros ($2.3 billion) to reduce its deficit, according to three people familiar with the plan.
Barclays Plc’s investment bank will handle the sale of TLG Immobilien GmbH, the company that replaced Treuhand Gesellschaft, said two of the people, who declined to be identified because the timetable hasn’t been made public………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

Companies moving to more central business locations to take advantage of subdued rents helped push up prime office rents in Moscow and Warsaw by 4.3% and 3.8% in the final quarter of 2011, according to the latest research from property adviser CBRE.
This recentralisation trend was less pronounced in other markets such as Frankfurt, where it was offset by the need for corporates to cut costs. Cost control remains a key factor driving location decisions, according lto CBRE………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

Jones Lang LaSalle is pleased to present its new research report focused on the city of Krakow ‘Krakow City Report’. The release of this informative and opinion-led real estate report coincides with the publication of Tholons Top 100 outsourcing destinations, in which Krakow was ranked 11th.
“We are delighted with such a high position of Krakow in the global rating. Krakow was rated 11th, ahead of all other Central and Eastern European cities such as Prague (20th), Budapest (27th), Brno (31st), and Warsaw (38th)………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

Fascinating abstract of a new paper by Paolo Buonanno, Ruben Durante, Giovanni Prarolo, and Paolo Vanin: This research attempts to explain the large differences in the early diffusion of the mafia across different areas of Sicily.
We advance the hypothesis that, after the demise of Sicilian feudalism, the lack of publicly provided property-right protection from widespread banditry favored the development of a florid market for private protection and the emergence of a cartel of protection providers: the mafia………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

The property sector keeps us on our toes with some eyebrow-raising news and a property bailout, tycoon and new project kickstart looks like it’s just the beginning.
Big news today for the Abu Dhabi real estate market: Aldar and Sorouh have announced plans of a state-backed merger. The proposition is currently being studied and a decision is said to be made within the next three months………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

When it comes to sky-high rents, Hong Kong has long been a city of superlatives. Now the city can lay claim to another – home of the world’s most expensive office rents, says the latest industry report.
According to Knight Frank’s 2012 review of global real estate markets, Hong Kong’s prime office space, which includes the city’s bustling Central district, was renting for as much as a monthly HK$1,046 (US$135) per square meter last year, a growth of 28%………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

Minoru Mori, whose entrepreneurial risk-taking helped transform the central Tokyo skyline and which set him apart from Japan’s staid real-estate world, has died at age 77, his company announced Monday.
Mori had been chairman and CEO of Mori Building Co., guiding it to become a major force in the city’s real estate market. His 2003 Roppongi Hills complex, with its signature 54-story main building and complex of 220 shops and restaurants, became a magnet as Japan headquarters for many big international financial firms, including Goldman Sachs and Lehman Brothers………………………………………..Full Article: Source

Posted on 13 March 2012 by Laxman |  Email |Print

House sales shot up 37 per cent last month nationwide, making it the best February for the residential property market since 2008. The latest Real Estate Institute of New Zealand data showed that there were 1666 more houses sold last month than at the same time a year earlier, but prices were flat for the third month in a row.
Nationally the median house price was $355,000, unchanged since November but up $5000 from February last year………………………………………..Full Article: Source

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