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Real Estate Briefing 05.Apr 2012

Posted on 05 April 2012 by Laxman |  Email |Print

John SikaitisThe recovery across the U.S. office sector continued in the first quarter of 2012, but at a substantially slower pace than witnessed in the latter part of 2010 and throughout 2011, according to Jones Lang LaSalle’s First-Quarter 2012 Office Outlook.
“Overall, the first quarter presented a mixed bag of results and expectations for the rest of the year,” said John Sikaitis, Senior Vice President of Research at Jones Lang LaSalle. “While the recovery slowed during the quarter, it remains intact. Looking ahead to the remainder of 2012, markets will continue to recover and, in some cases, contract at different rates of speed. Overall rents across most markets will grow, but at slow and measured paces unless some significant cushion of technology or energy pockets exist.” (press Release)

Posted on 05 April 2012 by Laxman |  Email |Print

Buyers are returning to the U.S. vacation home market in large numbers. Second-home sales soared in 2011 to their highest level since 2005, to 1.72 million homes sold, according to a survey done in March by National Association of Realtors.
Investment-home sales surged 64.5 percent over 2010 levels, while vacation-home sales rose 7 percent. Half of investment-home buyers plan to make another purchase within two years, while one-third of vacation-home buyers do………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Here’s a list of some of the most popular and promising places for vacation-home shopping in the U.S., with recent median list prices from real estate shopping site Zillow.com.
Aspen, Colorado: Median list price: $1,725,000. Sales were brisk in winter playground Aspen during the last year as motivated sellers accepted prices 25 percent off their 2007 peak, says local real estate agent Steven Shane………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

The following is a list of year-on-year home price moves in the top ten cities in February, as compiled by CoreLogic. Nationally, prices fell 2% compared to Feb. 2011, or a 0.8% decline when distressed sales are excluded. Mark Fleming, the chief economist for CoreLogic, said there’s a deceleration in the pace of house price decline.
“The continued strength of sales activity and tightening inventories in many markets are early and hopeful signs that prices will continue to stabilize and improve in the coming months,” he said………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Climbing rents for apartments are combining with a continued decline in home prices to push once-reluctant home buyers into finally taking the plunge, say economists and real-estate agents, helping what appears to be a good start to the housing industry’s all-important spring selling season.
Although increased buying activity from investors and second-home purchasers are also factors behind the recent pickup in home sales, real-estate agents say they are fielding more calls from anxious tenants complaining about rising rents………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Buying single family homes as an investment just might save the housing market, says one of the country’s biggest real estate investment firms in New York. GTIS Partners, one of the largest investors of global real estate, has its eyes set on new, uniquely American investment opportunity. It’s less exotic than their usual hot spots.
And far more distressed. Which makes the assets quite cheap. U.S. single family housing is back. This time, as Forbes writer Morgan Brennan reported this week, investors like GTIS are buying groups of single family homes not to flip them, but to rent them………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Knowing how to price your property is the most important step for those eager to sell, says Norman Block, a real estate agent in the Raleigh-Durham area of North Carolina. Realtors should use the Multiple Listing Service to compare nearby equivalent properties and come up with a fair market price.
In an overcrowded housing market, overpriced homes won’t get any showings………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Some of the housing world’s heaviest hitters are gathering in New York tonight and Thursday for an event organized by home-listings website Zillow to discuss bringing stability to the housing market (the forum Thursday includes the Journal’s S. Mitra Kalita).
As a walk-up to the event, Zillow, over on its blog, has asked some of the participants what they would have done differently, if they were President Barack Obama, in regards to housing policy………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end.
House sales are picking up across most of the country, the plunge in prices is slowing and attempts by lenders to claim back properties from struggling borrowers dropped by more than a third in 2011, hitting a four-year low………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Investors piled into the stocks of small real-estate companies during the first quarter, an indication that the improving economy is encouraging investors to take on more risk.
Overall, the performance of real-estate investment trusts was weaker in the just-ended quarter compared with the previous quarter. The Dow Jones All REIT index posted a total return of 10.48% in the first quarter, down sharply from the fourth quarter’s return of 15%………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

While the U.S. housing market continues to struggle, there is one bright spot for those who sell apartments: Russians are investing plenty of money in high-end real estate, especially in New York City.
In The New York Times, Alexei Barrionuevo describes a real estate strategy meeting at which “brokers sipped wine and nibbled cheese, a panel of lawyers and a banker reviewed some of the biggest sales made to Russians, including the $188 million spent on properties in Florida and New York by trusts linked to Dmitry Rybolovlev, who made billions from potash fertilizer; ……………………………………….Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Canadian authorities are stepping up oversight of the nation’s housing market even as lenders such as Bank of Nova Scotia warn that tougher rules could threaten the economic recovery.
The country’s banking regulator, the Office of the Superintendent of Financial Institutions, said Tuesdsay it will boost supervision of private mortgage insurers while examining “emerging” risks to the financial system in several areas, including residential mortgages………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

The spike in prices, the biggest monthly rise since May 2009, was fuelled by first-time buyers rushing to beat the expiry of the stamp duty holiday at the end of March, said Halifax.
Average house prices in Britain rose more rapidly in March than at any time for three years, jumping by 2.2% over the month, according to figures from Halifax, but the lender played down the prospects of another property boom………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Hometrack, a property analytics business, recently reported a 0.2% increase in British house prices, the first such rise in 20 months. The company’s peculiar response to that unimpressive piece of data is that prices will continue to hold firm in the coming months, though, in a brief spasm of honesty, the company goes far enough to admit that the market is not ‘yet firing on all cylinders’.
Indeed. As a matter of fact, the housing market is currently firing on just one cylinder – and one that will have to be withdrawn in due course, as unfit for further service………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

The average housing price in Kyiv in January-March 2012 grew by 1.64%, to $1,853.80 per square meter, and the largest growth was seen in January, while in February and March the prices remain stable, Chairman of the Committee for Analysis at the Union of Realtors of Ukraine, Vsevolod Zhoholev, has said.
“In January, apartment prices grew by some 1.5%. Cheap apartments were bought, and a technical rise in the prices was seen. In January and February there were almost no deals on the market, and this was a normal situation………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Oman will continue to develop a two-tiered property market with villas and apartments in less desirable destinations providing difficult to rent, property consultants Cluttons has said.
Demand for residential real estate in the Gulf state is expected to remain strong in the year ahead, the firm said, adding it is “cautiously optimistic” about the growth of the residential sales………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Private investors from Malaysia, Indonesia, Taiwan and Singapore are expected to remain active in the investment market despite lower sales volume in the first quarter of 2012, according to real estate consultancy CBRE.
It said total investment sales hit S$4 billion in Q1, down 53 per cent on-year and 49 per cent shy of the fourth quarter’s figure………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

American property mogul Donald Trump targets India above other emerging economies, his son and business partner said, as the flamboyant tycoon looks to crack a notoriously tough real estate industry with his brand of luxury homes and hotels.
Trump’s eponymous real estate group expects to sign multiple deals for Indian residential projects and hotel contracts over the next five years, despite a market riddled by regulatory uncertainty and bureaucratic red tape………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

The sluggish property market in Mumbai is not an indicator of the boom witnessed in the rest of India. If the absorption rate of property is anything to go by, Bangalore, Chennai, Gurgaon are witnessing a significant demand for residential property.
Here are trends that could help you comprehend the trend in each city: Absorption rate: Absorption rate is the number of apartments sold per month of the inventory in a particular market. It is an indicator of the demand situation in a particular real estate market………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Private equity (PE) capital infusion into Indian real estate dropped by almost 36% between January and March from a year earlier, as funds opt to spread their risks and invest in smaller deals.
PE funds invested $279.53 million across 12 real estate deals in the first three months of this year, compared with $431.9 million across 10 deals in the same period last year, according to data provided by VCC Edge, a research platform that tracks investments………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

CBRE Global Investors, manager of $94.8 billion of real-estate assets, said the next one to two years will be a good time to invest in China’s property market as it slows on the government’s tightening policies.
The fund is “on track” to make its first residential investment in China in five years by acquiring shares in a joint-venture project in the second quarter, Greater China Country Manager Richard van den Berg said……………………………………….Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

The number of applications for Build-To-Order and balance flats outstripped the supply. 7,978 flats were put on offer last week and by Tuesday the number of applications for these flats stood at 26,350.
Balance flats which are located in well known estates proved to be the most popular, with an overall subscription rate of 3.8………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

The Housing Industry Association (HIA) has recorded a 12.8% fall in new home building for the last quarter and warns of “deteriorating conditions” for the housing industry.
The HIA is forecasting a 5.9% decline in starts in 2012, to a level of just 139,360 with only a modest recovery to 151,200 predicted by 2013-2014………………………………………..Full Article: Source

Posted on 05 April 2012 by Laxman |  Email |Print

Seventy per cent of under 35s in Sydney will be excluded from the housing market, a UK housing expert says. The figure makes up part of a new report, Homes for All, which found that Sydney’s housing market is in crisis, with only half of the supply needed to meet demand.
Co-author Dr Tim Williams says governments need to reconsider tax incentives and policies that encourage investors to push house prices higher………………………………………..Full Article: Source

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