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Real Estate Briefing 21.Mar 2012

Posted on 21 March 2012 by Laxman |  Email |Print

Bill DowneConcerns about the sustainability of the high-flying Canadian housing market are “legitimate,” especially in the largest cities, the head of one of the country’s biggest banks said Tuesday as a price war rages across the financial sector over mortgage rates.
Bank of Montreal chief executive officer Bill Downe told the bank’s annual meeting in Halifax that soaring household debt levels are highlighting the need for a soft landing in the residential real-estate market………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

David CroweThe National Association of Home Builders/Wells Fargo housing market index closed at a level of 28 today, which is the highest level since June of 2007 other than last month’s downward revision from 29, according to Steve Goldstein of MarketWatch.
Though the index implies positive sentiment, economists polled by MarketWatch expected the level to be at 29. Economists at Goldman Sachs said, “Overall the report was only a minor disappointment, and the level of the index remains consistent with steady improvement in the single-family housing market, in our view.”……………………………………….Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Home sales are up. Home values are down. Interest rates are rising. Inventories are falling. Americans are facing an influx of information this spring home buying season, as the housing market continues to work out its kinks.
Unfortunately, wading through all that information might seem like it requires an advanced degree in real estate………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Over the past few months, many economists have concluded that that the U.S. housing market has reached a turning point and is healing. This may sound hard to believe, since home prices have continued their downward trend.
In 2011, prices fell by 4% following nearly a 30% decline since the property bubble paeked in June 2006. They ended the year at a 10-year low………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Nearly four years removed from the subprime mortgage lending crisis pushed the U.S. into a deep recession, it’s finally time to invest in housing. It appears that the housing markethas bottomed, making this an ideal time for investors to load up on housing stock.
According to the Case-Shiller index, home prices nationwide have fallen by an average of 34% since their July 2006 peak – a decline that’s on par with the housing crash that occurred during the Great Depression………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

When is a homebuilder not a homebuilder? When it’s in an index of homebuilder stocks, of course! The SPDR S&P Homebuilders (XHB) exchange traded fund has surged this year, leading many to speculate that the housing market has really, honestly, we’re not fooling around this time, cross our hearts and hope to die, bottomed.
The builders ETF is up a stunning 26% already this year. But here’s the thing. A big chunk of the companies in the fund that are doing well are not really builders………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Permits for U.S. homebuilding neared a three-year high in February, even as groundbreaking activity slipped, suggesting a nascent recovery in the housing market was still on track.
New building permits surged 5.1 per cent to a seasonally adjusted annual rate of 717,000 units last month, the Commerce Department said on Tuesday. It was the highest rate since October 2008 and far exceeded economists’ expectations for an advance to a 690,000-unit pace from January’s 682,000-unit rate………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Housing starts in the U.S. fell in February from a three-year high, showing the recovery in the residential real estate market will take time to develop.
Builders broke ground on 698,000 homes at an annual rate, in line with the median forecast of economists surveyed by Bloomberg News and down 1.1 percent from a January pace that was stronger than previously reported, Commerce Department figures showed today in Washington. Building permits, a proxy for future construction, climbed to the highest level since October 2008………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

U.S. home building fell in February, but permits for new construction reached their highest levels in nearly 3½ years, reflecting housing’s uneven and protracted recovery.
Home construction decreased 1.1% from January to a seasonally adjusted annual rate of 698,000, the Commerce Department said Tuesday………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

BNP Paribas Real Estate has strengthened its presence in the US by signing an alliance agreement with Transwestern. This alliance agreement signed by BNP Paribas Real Estate and Transwestern covers the transaction, valuation and corporate real estate consulting business lines.
Transwestern is located in 30 cities, including New York, Chicago, San Francisco, Dallas and Miami, and employs 1,750 staff………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Thanks to the housing bubble, Phoenix garnered a reputation for dusty abandoned homes and half-built tracts of retail sprawl. Arizona’s biggest city suffered a 55% drop in home prices since the 2006 peak and it consistently ranks among the country’s 20 worst cities in terms of foreclosures.
Yet a recent rebound in home sales — and more modestly in home prices — has spurred talk of a recovery there………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

From a thriving hotel market to its burgeoning office and industrial sectors, the commercial real estate industry in Brazil is showing signs that it will continue growing for years to come.
“The Brazilian real estate sector is booming and is expected grow at a very fast pace in the next few years,” said Andre Viola Ferreira, a partner with Ernst & Young in Brazil who specializes in strategic growth markets. “The business and traveling environment and events held in the country are increasing a lot. There’s a lack of availability in this sector.”……………………………………….Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

IPD has launched a new benchmark for pan-European funds it claims will boost investor confidence by making explicit differences in fund and asset-level performance.
The 16-fund index comprises open-ended funds with 490 assets under management totalling €11.2bn………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Cross-border European property funds continued their recovery in 2011, spurred on by underlying direct property market returns of 6.8%, according to the latest IPD Pan-European Property Fund Index figures.
The fund index returned 4.1% through the past year. This was the second year of positive returns, IPD said………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Real estate performance across much of Europe will likely weaken further in 2012 and recover slowly from 2013 onwards, according to RREEF’s European Real Estate Outlook published on Tuesday.
The real estate investment arm of Deutsche Asset Management expects capital values to be stagnant in the north of the continent and fall in the south over the coming 12 to 24 months. Subsequent growth should result mainly from a broader economic recovery and increasing rents………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

The UK housing market is showing some signs of “buoyancy” despite mortgage lending remaining static in February, lenders have said.
Gross mortgage lending stood at an estimated total of £10.7bn in February, the Council of Mortgage Lenders (CML) said. This was virtually unchanged from the previous month, but up 14% on the same month a year earlier………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Real estate industry leaders in the UK are calling on the government to introduce mortgage REITs as a way of making the property debt market more liquid and freeing up banks to lend. The calls come ahead of the presentation of the 2012 UK budget on Wednesday.
Phil Nicklin, real estate tax partner at Deloitte and an adviser to the government on REITs since they were introduced in 2007, believes there is a good chance that a consultation document could be published in the UK budget on the introduction of mortgage REITs………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

International real estate advisor Savills expects Amsterdam to be a hot spot for hotel investment in 2012 as a number of new hotels from budget to luxury open in the Dutch capital.
The firm notes that average occupancy rates in Amsterdam stand at 75-80%, due largely to demand from business travelers and weekend tourism, it expects occupancy rates to reach 2007 levels (of approximately 81%) in 2012, which will in turn allow an increase in average room rates………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Acquisitions on the domestic investment market are closely linked with the liquidity offered in the financial markets and relative costs of capital.
The Czech real estate investment market includes a diverse range of investor type including domestic and foreign institutional investors, mutual and pension funds, investment and asset management companies and private investors………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Etera, the Finnish mutual pension provider, posted negative returns of 2.3% last year driven by volatile equity markets, but saw its real estate portfolio rebound from returns of 0.7% to nearly 8%.
Jari Puhakka, the mutual’s director of investments, said a modified investment strategy had allowed its solvency level to remain stable year-on-year despite the “market shock” witnessed in 2011’s third quarter………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Residential property prices in Denmark are at their lowest since the third quarter of 2005, says Danske Research, part of Danske Bank.
Danske Research bases its conclusion on analysis of property statistics from sources such as the Association of Danish Mortgage Banks………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

The real estate index has registered a rise in Riyadh, Al-Qateef and Hafr Al-Batin and a drop in Madina and Dammam, the Ministry of Justice said Wednesday in its weekly report.
The real estate index registered a 5.67 percent rise at the First Notary Public Office in Riyadh with and a total value exceeding SR1.9 billion. Meanwhile, the index registered a 26.04 percent rise in Al-Qateef Notary Public Office with a total value exceeding SR56.1 million………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Housing prices in India witnessed the steepest rise in the world in the last 10 years since 2001. “House prices in India have increased by 284% in real terms, after allowing for inflation - equivalent to an average annual rise of 14%,” said Lloyds TSB International Global Housing Market Review.
This is an over six-fold increase compared to the 47% rise in China’s housing prices over the same period. After India, Russia recorded the next biggest increase of 209%………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Is China’s notoriously unreliable house price data swinging into line with reality?
The latest numbers from the National Bureau of Statistics show average house prices in February up just 0.2% compared to a year ago, and falling 0.1% month-to-month, the fifth month-to-month fall in a row………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Despite five months in a row of falling housing prices and other ominous signs in China’s property sector, the country’s real estate practitioners have nevertheless managed to maintain a surprising level of optimism.
But considering how many Chinese investors and developers failed to anticipate the extent of the current slowdown in the domestic property market, Tsinghua University economist Patrick Chovanec said at a property panel in Beijing on Tuesday, the time has come to dispel a couple myths about certain silver bullet solutions for the sector………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Chinese developers are setting up property funds to diversify their sources of revenue as government real-estate curbs have led to a cash shortage.
Fosun International Ltd., a Shanghai-based company with interests in property, retail, mining and pharmaceuticals, is raising money for the second phase of a property fund after getting 3.7 billion yuan ($585 million) for the first, Co- President Fan Wei said……………………………………….Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Australia’s high government bond yields are driving other yield plays, including property. Returns from about 70 per cent of Australia’s metropolitan property markets are expected to outperform this year, with Sydney office yields nearing a robust 7 per cent, according to DTZ Research’s latest fair value report.
“It all comes back to the relatively high government bond yield rate, which then drives a relatively high yield for your investment,” DTZ head of national research Dominic Brown said………………………………………..Full Article: Source

Posted on 21 March 2012 by Laxman |  Email |Print

Real estate is supposed to rival gold as one of the safest investments you can make. As the late rancher (and multimillionaire) Roy Rogers put it, “Buy land. They ain’t making any more of the stuff.”
So why does a brief observation of the housing market tell us otherwise? Foreclosure, subprime loans, predatory lending, defaults, homeowner assistance … all these terms have become part of the national lexicon in the last few years, leading the easily intimidated to think that it’s impossible to ever build wealth (or at least not lose it) via real estate………………………………………..Full Article: Source

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