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Real Estate Briefing 10.Apr 2012

Posted on 10 April 2012 by Laxman |  Email |Print

Ah, spring. Flowers, baseball — and the prime real estate season, in which eager, young first-time buyers go in search of their dream home. But will second-quarter 2012′s housing market bring us a garden of blooms or a handful of ugly weeds? Let’s take a closer look.
As Q2 gets underway, real estate has some real positives going for it, and also some tremendous obstacles to overcome. On the plus side, we continue to have near-historic lows on mortgage interest rates, and home prices that are anywhere from 35% to 60% below the inflated levels of 2006………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Jed KolkoOn fundamentals, America’s housing market looks increasingly healthy. Inventory levels and vacancy rates are way down and rents are up. At the national level, the entirety of the price boom between 2000 and 2006 has been unwound and then some.
Mortgage markets are still clogged, but investors are moving properties from owner-occupied to rental status with gusto. And yet, as the quote above indicates, prices are still dropping. What gives?……………………………………….Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

When will housing prices hit bottom? That’s the nagging question on many Americans’ minds five years into the deepest and longest housing recession in decades.
While we’d all like a cut and dry answer—the third quarter of 2012? 2013? The day after never?—it’s just not that easy to pin down an exact date when the housing market is supposed to turn the metaphorical corner………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

On the Upper East Side of Manhattan, a million dollars can get you as little as an 895-square-foot one-bedroom apartment. In Los Angeles, a 2,250-square foot three-bedroom abode in Hollywood Hills.
But in Dayton, Ohio, a million dollars fetches luxury: a 12,000-square-foot estate just outside of the city limits equipped with personal gym and home theater, nestled on five acres of land………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Three years of wrong predictions notwithstanding, perma-bears are emerging from a winter’s hibernation with tall tales of another impending collapse in home prices. They could not be more wrong.
For pundits, academics, bloggers and others who get their market “color” from crunching numbers and poring over 50-page-long analyst reports, the situation is dire: Foreclosure machines are whirring again with the big attorney general settlement behind us, employment conditions remain tepid, and getting a mortgage isn’t getting any easier………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Over the years, followers of the Swiss economist Marc Faber have come to expect the unconventional, or at least the unpopular, when it comes to contrarian themes and investment ideas within his publication The Gloom, Boom & Doom Report.
That is why his latest tome titled “The Most Important Thing in Investments is to Hear What is Not Discussed!” is so striking………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Despite weakening economic sentiment and the ongoing tensions in financial markets, occupier demand across office markets in Europe, the Middle East and Africa (EMEA) remained broadly stable in 2011 and similar to levels observed in 2010, according to latest research from CBRE.
Some of the major office markets including Paris, Milan and Munich saw significant increases in leasing activity relative to their 2010 levels………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Real estate investment markets in Central and Eastern Europe (CEE) are attracting a growing number of cross-border investors, but there is no ‘gold rush’, according to Martin Erbe, head of CEE at German lender Helaba.
‘Gold rush for me is a negative word because the US gold rush (of the 1840-50s) left deserted villages in its wake. I think when investors move on from CEE to Russia, hopefully, they will not leave Warsaw as a deserted city,’ Erbe said………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

House prices declined at the slowest pace since June 2010 in March, helped by a better economic outlook and buying ahead of the expiry of a stamp duty exemption, a survey showed.
The Royal Institution of Chartered Surveyors’ (RICS)seasonally adjusted house price balance rose to -10 from -13 in February, data showed on Tuesday, beating economists’ forecasts for a tick-up to -12. Prices continued to edge down in all areas of Britain except London………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Activity in the housing market slowed last year to its weakest level since 2008, according to a respected measure, as worries about the economy and problems scraping together a big enough mortgage deposit weighed on demand.
The number of property “hotspots” – towns which experienced a rise in sales numbers – halved in 2011, dropping to its lowest level since the height of the financial crisis, according to new research by Lloyds TSB………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

House prices are not set to reach their pre-recession levels for another four years, according to research from the Centre for Economics and Business Research.
The think-tank expects prices will continue to edge up slowly – by 0.8 per cent this year – as the mortgage famine affecting people’s ability to buy gradually eases. “Lending for housing was £74.5bn in 2011 and we forecast this will rise to £109.9bn by 2016,” says Shehan Mohamed, the report’s author………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Warehouse rents in Dublin have fallen by 60-80% as landlords vie for tenants, presenting an opportunity for international retailers active in Ireland to ship larger deliveries and store stock in warehouses, cutting down on the number of annual deliveries according to international real estate advisor Savills.
With prime rents currently ranging from €4 - €6 per ft² per year (€43 - €65 per m²) and tertiary rents as low as €1 per ft² per year (€10.76 per m²), the firm notes that retailers could cut annual delivery costs and store stock in warehouses until it is needed, following the example of Lidl and Primark………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

A ’substantial volume’ of good-quality assets is set to come up for sale in Germany as some of the beleaguered German open-ended funds liquidate their portfolios. One of the more publicised disposals is the Quartier Potsdamer Platz property portfolio that SEB is marketing in Berlin.
SEB is seeking to sell a 50% stake in the portfolio which it acquired in 2008 for EUR 1.4 bn………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Bulgaria’s real estate market was still far from the peaks reached at the height of the property boom in 2007, but appears to have bottomed out, data released on April 9 by two local realtors showed.
The number of real estate transactions in 2011 was up by 22 per cent compared to the previous year, according to real estate consultancy firm Yavlena, but the bulk of the deals concerned agricultural land………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Large real estate groups from Iran are now joining Gulf investors by showing interest in Turkey’s lucrative housing markets, with buyers from these countries eyeing large purchases following anticipated regulations to facilitate property sales to foreigners.
Fueled by a sustainable economic expansion over the past decade, Turkey has seen its real estate markets boom as hundreds of new housing projects have mushroomed across the country………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Two leading real estate developers in the Eastern Province have urged the government to provide incentives to the private sector to step in to meet the rising demand for affordable housing.
Speaking at the Cityscape Connect Alkhobar Business Breakfast on Sunday, Bassam M. Boodai, MD and CEO, Jenan Real Estate Co., and Abdul Aziz K. Al-Shaibani, CEO, Al-Oula Real Estate Development Co., said the government can initiate a series of steps to energize the private sector………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Property prices in Dubai appear to have bottomed out in the first quarter of 2012 and are starting to firm up despite the existing oversupply and a decline in rents in the outskirts, a Kuwait investment bank said on Monday.
In contrast, the sector in Abu Dhabi is expected to maintain its downward trend over the next year due to fresh housing deliveries, Global Investment House (GIH) said in a 50-page report on the GCC real estate sector………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Higher oil prices and strong positive momentum in Abu Dhabi and Dubai economies are being cited as reasons by Standard Chartered bank for revising its 2012 growth forecast for the country by a 100 basis points, from the earlier 2.4 per cent to 3.4 per cent now.
In a recent report titled “The ‘haves’ and ‘have nots’”, the bank has also upwardly revised the economic growth estimate of GCC peer Saudi Arabia………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Jones Lang LaSalle India, a global research firm in the real estate sector, says that prices of residential units in India in the next six months should witness marginal appreciation.
JLL says: “Over 60% of residential launches in the Top 7 cities (mostly in cities other than the NCR and Mumbai) are priced in the range of Rs 2,000-4 ,000 per sq ft, which meets the demand of middle-income buyers.”……………………………………….Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Prices for newly-built residential houses in Beijing averaged at 12,326 yuan ($1,948) per square meter in the first quarter, down 20.7 percent year-on-year, Shanghai Securities News reported on Monday.
The data came from a report issued by the Beijing Real Estate Association – a non-profit organization linking the nation’s government with the real estate market – at Beijing Real Estate Trade Fair that ended on Sunday………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

The housing bubble in China is over, says Singapore based investment guru Jim Rogers in an article published in China Daily last week. “There has been a bubble in the Chinese property market which is now over,” he was quoted saying in an exclusive interview with the paper. “It’s always right to follow what the government does, so look at the Five-Year Plan (2011-15) to see where the government’s sympathy lies,” said Rogers.
Those sympathies lie with new value added technologies like biotech, and building up the municipalities in the interior of China, and — more importantly — building China’s social safety net to help an aging population stay out of poverty………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Hong Kong Financial Secretary John Tsang said he’s ready to step in if there are signs of overheating in the property market and warned property buyers not to “blindly” follow the market.
“I remain highly concerned about the risk of a price bubble” as the low interest environment persists, Tsang said……………………………………….Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

The Government is considering raising the minimum floor prices of houses foreigners are allowed to buy to RM1mil from the current RM500,000 in an effort to control the rise in property prices, sources said.
They said such a decision was “in the pipeline” and the implementation would be made by the economic planning unit (EPU) under the Prime Minister’s Department currently headed by Minister Tan Sri Nor Mohamed Yakcop………………………………………..Full Article: Source

Posted on 10 April 2012 by Laxman |  Email |Print

Weak market conditions contributed to house and apartment sales dropping to near 1996 levels last year.
In 1996 there were 365,885 dwelling sales. Last year, RP Data estimates, there were 373,394 dwelling sales nationally: more than 11 per cent lower than the previous year and 25 per cent below the decade average………………………………………..Full Article: Source

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