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Real Estate Briefing 12.Apr 2012

Posted on 12 April 2012 by Laxman |  Email |Print

Arthur de HaastBased on preliminary direct commercial property transaction volume figures released this week by Jones Lang LaSalle Capital Markets Research, it was a subdued first quarter of 2012 with recorded volumes down compared to the same period in 2011.
All major commercial property markets globally recorded a quieter start to the year after a very active 2011, particularly in the final quarter. Also, substantial one-off transactions in established markets, such as the sale of the Trafford Centre Shopping Centre in the United Kingdom for US$2.6 billion that enhanced volumes in Q1 2011 were not repeated in Q1 2012, leading to a fall in total volumes recorded………………………………………..Full Article: Source

Posted on 12 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………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

Two real estate powerhouses are angling for control of a massive industrial portfolio hoping to capitalize on an expected economic recovery.
Blackstone Group for more than two years has been collecting pieces of junior debt on the 23 million square-foot portfolio, known as CalWest, aiming to take over after an anticipated June default. Meanwhile, a Morgan Stanley property fund which holds a piece of junior debt, also is jockeying for control, according to people familiar with the matter………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

The bulk of loans backing some of the most complex commercial mortgage-backed securities carry below-market interest rates that are buoying performance, but risks lurk when borrowers seek new financing, according to Deutsche Bank.
About 80% of loans in commercial real estate collateralized debt obligations, also known as CRE CDOs, carry floating interest rates that have been held low by their benchmarks in recent years, said Deutsche Bank analysts, led by Harris Trifon……………………………………….Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

Encouraging reports on the housing market are stirring up optimism about this year’s home buying and selling season.
But industry watchers say not to get too excited: Even if 2012 brings increased sales and stabilized home prices, they expect for improvement to come slowly, due to a continued subdued demand for housing………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

After weeks of mixed housing news, many Main Street Americans are wondering just what’s going on with the housing market. The federal government has stepped in on a number of occasions, but despite all the financial help, the housing recovery has been slow and painful. It leaves many people wondering where we are so many years after the housing bubble burst.
There’s no definitive answer - after all, real estate is all about what’s happening locally, not nationally. But I want to address some of the most common questions………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

While it’s bad for broad recovery, inventory is great for buyers. There were high hopes that 2012 would be the year when the housing market, battered by the explosion of the real estate bubble, would finally begin to recover. But any good news on the housing front has quickly been followed by negative news.
For instance, it was reported in February that foreclosure rates were down and the number of new houses being built was up. For the first time since 2006, housing prices in some markets actually rose………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

Reports of America’s struggling housing market have seen house prices falling or staying stagnant for some time, with experts awaiting the market to bottom out. But two new reports suggest that contrary to this belief, US house prices have actually increased in the past three months.
The first, produced by property portal Trulia, found that American real estate values jumped up by 1.4 per cent in the first quarter of 2012, a suggestion backed up by The Burns Home Value Index, which observed a price hike of 1.1 per cent between January and March………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

According to the Greater Las Vegas Association of Realtors (GLVAR), inventory of homes available for sale in Southern Nevada is declining, while home prices and sales increase in March from the previous month.
“Our inventory is really dropping,” said GLVAR President Kolleen Kelley. “Based on current demand, we’re looking at a six-week supply of homes on the market. This is making new homes more attractive and creating a window of opportunity for home builders.”……………………………………….Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

Canadian housing starts grew faster than expected in March, led by a surge in construction of multiple units that fueled concern about possible over-building in the Toronto condo market.
Canada Mortgage and Housing Corporation (CMHC) said on Wednesday that housing starts rose to 215,600 units on a seasonally adjusted annualized basis in March, up from 205,300 units in February………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

Jones Lang LaSalle has appointed Paul Betts to the newly created role of EMEA Head of Logistics and Industrial as it targets strong continued growth within the logistics and industrial real estate sector across the Europe, Middle East and Africa (EMEA) region.
Betts will draw on extensive experience of European markets, having established King Sturge’s successful operations across Central and South Eastern Europe, before moving to Paris to lead the King Sturge business in France, prior to the 2011 merger between King Sturge and Jones Lang LaSalle………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

You would never know it from recent pronouncements by various analysts and research houses, but residential real estate in France is holding its own despite a traumatic financial condition throughout Europe.
Analysts warn of a coming slowdown in home prices and lending because of the unresolved Eurozone debt crisis………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

Germany attracted just over 30% of real estate investment in the first three months of 2012, according to preliminary figures compiled by PropertyEU Research. Germany accounted for EUR 5.4 bn of the total European volume of EUR 17.2 bn captured by our analysis of the market in Q1 as the country continued to benefit from its status as a safe haven in Europe.
The UK - for many years the largest real estate investment market in Europe - saw EUR 4.3 bn of deals, about 25% of the total European volume, in Q1………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

Despite recent difficulties, the popularity of Spain as an overseas property market for British buyers will endure for many years. This is according to BuyAssociation editor Paul Collins, who said the economic situation has inevitably made countries such as Spain and Portugal less appealing to UK people recently.
However, he suggested that buyers requiring foreign exchange services will continue to seek out property in these nations for a long time to come………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

Real estate prices are down all over Greece, as much as 50% in some areas. On Rhodes, prices have fallen up to 30% and oceanfront properties are going for remarkably low prices.
Of course, there are a few good reasons to wait before declaring Greece the new cheap vacation home capital of the world. For starters, there’s still the possibility of a Greek departure from the Eurozone that would leave new homeowners with properties valued in Drachmas………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

Kenya’s middle income housing market was hit hard in the first quarter of this year as high interest rates made it difficult for buyers to access financing for mortgages, a property index showed on Wednesday.
Housing has been one of Kenya’s fastest growing sectors over the last decade, fuelled by a growing middle class, with returns from real estate out pacing equities and government securities………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

Fake title deeds have flooded the property market in Zimbabwe. According to cases dealt with by the Zimbabwe economic crimes courts have something to do with fake documentation and the sale of non-existent stands and houses.
Fraud victims are thronging the police commercial crimes unit to report their cases before they are referred to the CID fraud squad.The Office of the Chief Registrar of Deeds in the Ministry of Justice and Legal Affairs has expressed concern over fake title deeds and the swindling of unsuspecting home seekers………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

The real estate sector continues to draw attention from international investors in the region, which is welcome news as the kingdom looks to rebuild its property market following the global economic downturn of 2008.
Although Jordan has stood out as an example of relative stability for the region, in contrast to the political turmoil in Tunisia and Egypt at the beginning of 2011, regional instability has had an impact on investor sentiment………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

After two years of house price falls, property prices in Qatar have been stable during 2011, according to property consultant, Asteco. At Viva Bahriya-Pearl, whose 29 towers are located in The Pearl-Qatar:
The average sales price of new apartments was QAR15,500 (US$4,254) per sq. m. in Q4 2011, unchanged from last year, but down by almost 28% from two years ago………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

Bahrain’s real estate market is showing signs of recovery, thanks to new expats moving to the kingdom in the past few months, an international firm said.
Cluttons reported an upturn in the number of foreign workers arriving in Bahrain since January, especially in the oil and gas industry - prompting the residential property market to bounce back………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

A repeat of the housing market meltdown in the United States is unlikely to occur in other markets, including Australia, a senior Reserve Bank of Australia official says. National house prices have fallen about 5 per cent over the past year in Australia.
The head of the RBA’s financial stability department, Luci Ellis, said that in most countries mortgage distress increased during economic downturns………………………………………..Full Article: Source

Posted on 12 April 2012 by Laxman |  Email |Print

The pace of gains in New Zealand’s residential property market in the first three months of this year slowed down, reflecting easing values last month, says Quotable Value.
National property values rose 0.5% in the three months ended March 31, slowing from the 1.1% gain over the rolling three-month period through February, the government valuer said………………………………………..Full Article: Source

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