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Real Estate Briefing 19.Mar 2012

Posted on 19 March 2012 by Laxman |  Email |Print

Russell PriceHome purchases in the U.S. probably climbed in February to the highest level in almost two years, another sign of stabilization in the real-estate market, economists said reports this week will show.
Combined sales of new and previously owned properties rose to 4.93 million at an annual rate, the strongest since May 2010, from 4.89 million in January, according to the median forecasts in a Bloomberg News survey……………………………………….Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

Robert TippHousing will take center stage this week as several economic reports on housing prices, sales and construction are due out. Any signs that the real estate market is rebounding could keep the stock market rally going.
“We’re going to see enough housing data next week that we’ll be able to corroborate or refute reports showing that the real estate market is rebounding,” said Dan Greenhaus, chief global strategist at BTIG. Reports on housing starts, building permits and February’s new and existing home sales will all be released this week………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

The U.S. economy finally seems to be on a solid path to recovery three years after the recession ended. The struggling housing industry, not so much.
The real-estate market takes center stage in a typically slow week for U.S. economic data. Reports on new-home construction, new-home sales and purchases of existing homes are among the highlights………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

On the surface at least, the brutal crash in the U.S. housing market, which began six long years ago, shows few signs of abating. But some industry players say early signs of a rebound are emerging, as U.S. housing inventories shrink and job growth picks up.
“We think we’re probably past the bottom now,” says Ralph Young, CEO of Edmonton-based Melcor Developments, which has roughly doubled its U.S. property holdings over the past year………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

It appears that the housing market is emerging from its hole. For advisers and investors, this means it might be time to consider what portfolios should look like from a higher level. Why is the market starting to recover?
Let’s look first at supply and demand. In the case of housing, supply consists of existing homes for sale and newly built homes. The supply of existing homes for sale has dropped substantially. In fact, it now rests close to the 30-year average, when expressed as months of supply………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

With the economy apparently stabilizing, commercial real estate investors have jumped into several markets in the West, brokers said.
“There is a lot of capital that needs to get out,” said broker Kevin Shannon of CBRE Group Inc. “People have fresh allocations for both debt and equity and … want to put it to work.”……………………………………….Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

European real estate investment trusts have become likely takeover targets after share prices failed to keep pace with asset values, JPMorgan Chase & Co. said.
Companies that may attract bids include the U.K.’s Hammerson Plc (HMSO), Big Yellow Group Plc (BYG), Helical Bar Plc (HLCL), Metric Property Investments Plc and Workspace Group Plc and Amsterdam- based Eurocommercial Properties NV (ECMPA), analyst Harm Meijer said in a note to investors………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

Asking prices for property for sale in the U.K. rose again in early March boosted by a pickup in confidence, shortage of stock and continued increased demand from first-time buyers seeking to take advantage of the government’s sales tax holiday which ends Saturday, a survey by Rightmove showed Monday.
The survey also highlighted that average London house prices have now risen to the highest level on record………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

Property investors are to be offered tax breaks on deals in an attempt by the Government to attract spending into the UK and ease Britain’s housing shortage.
George Osborne, the Chancellor, is expected to confirm in the Budget this week that the Government will significantly loosen the regulations for Real Estate Investment Trusts, which do not pay capital gains tax on property………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

The UK is among the top performing world housing markets after a 50 per cent rise in house prices in real terms over the last decade. The UK is among the top performing world housing markets after a 50 per cent rise in house prices in real terms over the last decade.
The biggest increase since 2001 has been in India, with an increase of 284 per cent (once inflation is taken into account), according to the Lloyds TSB global housing market review………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

Senior industry figures have encouraged the UK Government to announce a consultation on the introduction of mortgage REITs in Wednesday’s Budget.
Robert Fourt, Partner and Head of Investment Research at Gerald Eve said: “Given the debt mountain that still persists in the UK and is coming to a peak in the next few years, the introduction of mortgage REITs would be a very welcome friend to the property sector in the UK………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

While German open-ended real estate funds as a whole returned 0.1% in February, returns on funds with a global focus dropped to -0.4%. This drop was mainly caused by weak returns from those funds which are in liquidation. These results are taken from the recently published OFIX-monthly report for February 2012 by IPD Investment Property Databank GmbH.
Poorly performing funds pull down the index: “The gap between the good and poor-performing funds is widening,” says Sebastian Gläsner, Head of Fund Services at IPD in Germany………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

Yields for some secondary commercial properties in Spain have hit double-digit figures due to the complete lack of financing for this type of product, Roger Cooke, head of Cushman & Wakefield in Spain, told PropertyEU.
‘Secondary properties are trading at yields of 7 to 8% in transactions involving any form of debt, but we have also started to see some secondary assets needing to be priced at double-digit yields in order to trade where deals have to be done entirely with equity………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

The Cabinet unanimously passed an amended version of the Trajtenberg Report’s housing recommendations Sunday, which Prime Minister Binyamin Netanyahu said would increase the availability of apartments and lower prices.
This means the government has now approved all four chapters from the report – which it issued in response to last summer’s protests over the cost of living. The other three chapters dealt with taxation, competition and social services………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

As the CEO of the leading property portal in the UAE, I often get asked for my thoughts and opinions on the real estate industry.
For obvious reasons, my answer today will be very different to that of two years ago. At present I see stabilisation and steady growth. Unfortunately, I also see oversupply with the number of available properties outstripping current need and demand………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

The Minister of State for Housing Affairs and State Minister for Parliament Affairs Shuaib Al-Muweizri was recently quoted as saying a fierce war has been waged against him by the powers of corruption in the Public Authority for Housing CARE (PAHC). He also indicated some officials tried to mislead him, reports Al-Horriya daily.
In an interview with one of the local TV channels he said corruption and negligence of some officials is the key reason for the housing crisis in the country………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

The latest national budget has given India’s realty sector a short shrift, despite its stated objective to create conditions for growth, focusing on domestic-driven growth recovery. It has sadly even ignored the prescription given by the Economic Survey for 1011-12 that has projected the share of the country’s realty industry to grow from 5 percent to 6 percent soon.
What is really disappointing is that barring some window dressing, the budget has not taken any concrete measures to address the twin crucial issues of increasing supply and boosting demand………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

The country’s real estate sector had hopes riding high on this year’s budget. However, the measures taken by the finance minister have dampened their spirits. “There is very little in the budget this year for the real estate industry. Other than allowing for External Commercial Borrowing (ECB) in affordable housing, there is nothing that the budget has to offer for the sector,” said Ravindra Pai, MD, Century Real Estate.
While the main respite for the sector comes in the form of sops provided towards affordable projects, the industry was left wanting for more. By allowing ECB for low cost housing, availability of capital in the sector has eased………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

China’s February home prices posted the worst performance in a year with almost half of the cities monitored by the government falling from a year ago as the country maintained curbs on the property market.
New home prices fell in 27 of 70 cities last month from a year earlier and prices were unchanged in six cities, the national statistics bureau said in a statement on its website yesterday. That is the worst since the government began at the start of 2011 releasing individual data for 70 cities instead of a national average………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

Rental growth is being driven forward by strong occupier demand in emerging South East Asian economies claim market experts at Jones Lang LaSalle. Jakarta and Manila are expected to benefit from 6 to 8 per cent growth and 3 to 5 per cent growth respectively in grade A office rentals in the first quarter of 2012.
Established markets such as Hong Kong and Singapore will experience a decline in grade A rentals during the first quarter………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

There is a positive move in Bangkok’s apartment market. According to propertyshowrooms.com the occupancy rate of apartments in Bangkok has “climbed in the final quarter of 2011 despite the supply of this kind of residence increasing.” The rate is in comparison to the previous three-month period and research by CB Richard Elllis (CBRE) Thailand shows a rise to 89.5 per cent.
This rise was at the end of the year and was up from around 85 per cent in the third quarter. In the downtown area of Bangkok a year-on-year rise of 3.6 per cent in the number of apartments available was recorded………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

Japan’s shrinking economy is poised to get a lift from the children of baby boomers taking out their first mortgages with rates close to a three-year low.
As many as 19.1 million people, or 15 percent of the Japanese population, are in the 35 to 39 and 40 to 44 year-old age groups, the second- and third-largest, government data show………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

Stocks of unsold apartments and houses are growing as buyers desert the housing market. While the rate cuts late last year helped to stabilise property prices, the market remains vulnerable and would be threatened by any rise in unemployment.
Australia has so far been saved from the kind of housing market collapse witnessed in the US, Britain, Spain and Ireland by the lack of forced sellers………………………………………..Full Article: Source

Posted on 19 March 2012 by Laxman |  Email |Print

The Prime Minister says parts of New Zealand are showing signs of a property boom and suggests the housing market is “about to take off”. John Key told TV ONE’s Breakfast that rent and house price increases in Auckland and supply shortages are symptoms of a looming property bubble.
Asked if he thinks a property boom is coming, Key said supply is starting to bubble through to the surface but it is quite slow………………………………………..Full Article: Source

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