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Real Estate Briefing 20.Mar 2012

Posted on 20 March 2012 by Laxman |  Email |Print

The traditional American dream is to have a home, a house, an abode. Whatever you call it, your residence represents stability, maturity, and financial growth. At the end of a long day in the trenches, Americans always count on relaxing at home.
The 2008 economic meltdown during the new millennium changed this scenario. Many parents watch as their children’s homes are foreclosed, downsized, or subsidized with multiple mortgages. The era of huge houses, living up to the neighbors’ standards, and purchasing on credit are gone………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

Barry RutenbergConfidence among U.S. homebuilders held in March at the highest level since June 2007 as sales expectations climbed for a sixth month. The reading of 28 in the National Association of Home Builders/Wells Fargo index of builder confidence was less than projected and followed a February figure that was lower than initially reported, figures from the Washington-based group showed.
The median forecast of economists surveyed by Bloomberg News called for a rise to 30. Readings below 50 mean more respondents said conditions were poor………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

U.S. home builders’ confidence in the housing market held steady in March, halting five consecutive monthly gains and raising questions about the strength of the housing recovery.
The National Association of Home Builders, the building industry’s main trade group, reported Monday that its closely watched housing market index was stuck at 28 in March. This was the same level as February, which was revised down a hair from the previously reported 29………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

Analysts expect a 20% increase in global property investment markets in the second half of 2012 led by the Americas and driven by increased confidence and a release of pent up investor and tenant demand.
A return to better economic growth will be the key to the strength of the recovery, according to Cushman & Wakefield’s latest research report, the International Investment Atlas 2012………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

Who’s falling for reverse mortgages these days? Leading edge baby boomers, aged 62 to 64. They represent more than one out of five (21%) applicants, compared to only about 6% in that age group back in 1999, according to a new report by the MetLife Mature Market Institute.
Almost half of applicants were under 70, double the percentage in that age group in 1999………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

Last week’s $1-million sale of a modest bungalow in north Toronto to a university student from China got tongues wagging and tempers flaring about the supposed encroachment of foreign buyers into the Canadian real estate market.
Stories of wealthy foreigners snapping up properties and pricing Canadians out of their local real estate markets abound………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

A property market crash on the same scale witnessed in European destinations like Spain, Portugal and Ireland is unlikely to occur in Brazil.
This is the assertion of Samantha Gore, sales manager for UV10, who commented: “Undoubtedly there have been some significant double-digit percentage price hikes in Brazilian property over recent years but, instead of crashing, the consensus is that values will take a more modest path of growth.”……………………………………….Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

House prices have recorded their biggest “spring bounce” in eight years, fuelling hopes that the property market will be more robust in 2012 than last year, the Rightmove house price index shows.
The typical property asking price rose to £236,939 in March, a 4.9pc rise over the first three months of this year and the largest first quarter increase since 2004, Rightmove said in the survey……………………………………….Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

The property market has seen its strongest start to the year since 2004 with average asking prices climbing 1.6 per cent in March, according to the latest Rightmove House Price Index.
But the positive beginning could quickly come to an end as the upsurge in activity among first-time buyers disappears after the ending of the 1 per cent stamp duty holiday this week………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

The big story in the housing market during the Great Recession and its aftermath has been the absence of first-time buyers. That’s hardly surprising given that the days of 100% – and even in some cases 125% – mortgages are a thing of the past.
New entrants into the housing market now have to find a sizeable deposit to get a foot on the property ladder and building up a pot of savings (unless you have access to the bank of mum and dad) is a real slog, made even more difficult by falling real incomes and the need to pay off student debt………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

Britain could face another house price boom, fuelled by the ageing population and the rising number of immigrants, a Bank of England expert said. In a research paper, Professor David Miles predicted ‘a rising trajectory for real house prices’.
His report comes as the average asking price in one exclusive corner of London, the Royal Borough of Kensington and Chelsea, hit £2million for the first time. A decade ago, the average asking price in the area was £650,600, which means it has trebled in ten years………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

Swedish funds turned in the best performance last year of those included in IPD’s Pan-European Property Fund Index. While cross-border European funds delivered an investor return of 4.1% in 2011, Swedish funds generated gains of 14.6&.
The pan-European result reflected strong underlying direct property market returns of 6.8%, IPD said……………………………………….Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

According to Albania’s National Institute of Statistics, INSTAT, Albania’s gross domestic product (GDP) increased by 2.6 percent in Q3 2011 compared with the same period in 2010.
The data highlighted that in the third quarter of 2011, the sectors that registered the highest growth were transportation which increased by 19.7 percent compared with the same period in 2010, while trade was up 6.2 percent and industry grew by 4.7 percent………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

Russian housebuilder Etalon said on Monday the country’s real estate market was still some way off pre-crisis levels and would continue to grow at least into 2013, prompting it to seek several new projects.
The company, which builds houses mainly in Moscow and St. Petersburg, said it contracted 270,000 square metres of property across both cities in 2011, compared to an adjusted 440,000 square metres for St. Petersburg alone in 2008………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

Africa-Israel Investments Ltd. Russian development arm, AFI Development plc reports revenue and profit growth for 2011. Africa-Israel and AFI Development chairman Lev Leviev predicts further growth in 2012, now that the Moscow real estate market has fully recovered.
Net profit rose six-fold to $172 million in 2011 from $26 million in 2010, and net operating income (NOI) rose 78% to $45 million. The company had $84.8 million in cash and cash equivalents at the end of the year………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

China’s hard landing call is the Iraq weapons of mass destruction call in 2003. It sounds scary, until you look closer and listen to more than one person.
The short-time line of the China housing bubble narrative goes something like this, according to a handful of analysts and pundits: Summer 2011: China’s housing bubble will pop and usher in a hard landing………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

International Monetary Fund (IMF) official Zhu Min said China will avoid an economic hard landing even as government data showed property prices falling in most of the nation’s biggest cities.
“China’s heading for a soft landing,” Zhu, a deputy managing director at the IMF, said in Hong Kong yesterday. At the same conference, Reserve Bank of Australia Governor Glenn Stevens also expressed confidence in an economy he said is closing in on that of the US. Prices of new apartments fell in 45 of 70 cities in February from January, the Statistics Bureau said……………………………………….Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

In the second half of last year, rents in Singapore rose by five per cent, up from 4.4 per cent in the previous six months, according to the Savills World Class Cities Index.
Today Online reported that this growth rate in the six months through December was the second-fastest after New York’s 6.2 per cent rise. This was through the 10 cities monitored by Index………………………………………..Full Article: Source

Posted on 20 March 2012 by Laxman |  Email |Print

The secret’s finally out about the best performing international house markets for property investors over the past decade – and the results are not what most property people would think.
Top of the league is India, where prices have surged by 284% since 2001 – an average annual increase of 14%. The UK returned a 50% increase over the same period – an average annual price raise of 5% and almost six times less than India over the decade………………………………………..Full Article: Source

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