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Real Estate Briefing 16.Apr 2012

Posted on 16 April 2012 by Laxman |  Email |Print

Christine LagardeFour years after a deflating U.S. housing bubble sparked a global financial crisis, housing worries in the U.S. and other countries are weighing on the world economy.
In Spain, the latest euro-zone nation to trigger tremors in global markets, households and banks are struggling with the fallout from the bursting of their own property bubble. Chinese policy makers are trying to cool their country’s housing boom so it doesn’t damage the world’s second-largest economy. And in the U.S., the hobbled housing market continues to hold back the economic recovery………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Mark PratherFive years after the U.S. housing bust sent sales and prices plunging, the spring home-buying season is pointing to a long-awaited recovery. Reduced prices, record-low mortgage rates, higher rents and an improving job market appear to be emboldening many would-be buyers.
And many people seem to have concluded that prices won’t drop much further. In some areas, prices have begun to tick up………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Earnings reports from two major banks Friday painted a picture of a healing housing market, with more Americans taking out mortgages, paying them on time and taking advantage of low interest rates to refinance.
At JPMorgan Chase, the biggest bank in the United States, income from new home loans set a record from January through March. The bank issued 6 percent more mortgages than a year ago and got 33 percent more applications………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Credit continues to flood into America and is largely finding its way to Treasury securities with pretty dismal yields. The big question in considering whether a new bubble is possible is whether housing finance will be able to tap this flow, as it did in the pre-crisis years.
That, I think, is a more difficult outcome to imagine. Last time around, the market gobbled up a massive stream of what looked like high-return, safe mortgage assets. I don’t think a similar supply will be forthcoming this time around. I think that regulators will make sure that mortgage standards do not deteriorate………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

After steady declines, U.S. home prices rose slightly in February and March in some major metro areas, according to CoreLogic and Trulia, two real estate data firms. Price gains have occurred in many hard-hit areas, such as Miami and Phoenix. Losses have been reported in cities ranging from Las Vegas to Seattle to Wilmington, Del.
Here’s a look at some of the cities with the sharpest home price gains and losses over the past year, according to Trulia:……………………………………….Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Washington’s office leasing market has slipped from leading the real estate industry’s recovery nationwide to being a yoke around its neck.
By the end of the first quarter this year, Washington office users occupied nearly 1.5 million square feet less than they did at the start, the biggest drop of any of the country’s 45 top office markets, according to Jones Lang LaSalle………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Canadian real estate agents may have recorded the first year-over-year sales drop in 11 months in March, regional data suggest, as the Vancouver market plunged.
The value of purchases reported by 11 regional real estate boards fell 1.1 percent from a year earlier to C$12.4 billion ($12.4 billion), as the number of homes sold fell 1.4 percent, according to real estate board data compiled by Bloomberg News. Those markets had a 9.1 percent annual rise in value during the prior month………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Asking prices for U.K. homes rose to a record in April, as a shortage of property boosted values in London, Rightmove Plc said.
Average asking prices in England and Wales gained 2.9 percent in April to 243,737 pounds ($386,400), the operator of Britain’s biggest property website said in a report today. Prices in the capital increased 2.1 percent from the previous month to a record 464,944 pounds………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Britain’s struggling commercial property market is being smothered by the “substantial” costs associated with controversial swaps sold by some of the UK’s biggest banks.
Property owners and developers face paying penalties of as much as 23pc of their loans simply to cancel long-dated interest rate swaps, according to research by advisers CBRE………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Germany’s residential portfolio transaction market saw a significant boost in Q1 2012 when compared to the previous quarter and to Q1 2011 with 35 residential packages comprising approximately 56,000 units sold, according to Savills.
The total transaction volume, which totaled €2.92 billion included the sale of DKB Immobilien AG comprising approx. 25,000 residential units to TAG at approx. €960 million and that of LBBW’s portfolio of 21,000 units at approx. €1.4 billion to a consortium headed by Patrizia………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Investment in German residential portfolios is expected to exceed EUR 6 bn this year, compared to a 2011 volume of EUR 4.8 bn, according to real estate agent Savills.
At nearly EUR 3 bn, the Q1 2012 investment volume total already amounts to roughly 60% of the 2011 full year investment volume……………………………………….Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Spain’s property market has been crashing in slow motion. Now the decline is accelerating.
House prices are down between 22 and 29 per cent from the 2007 peak, according to various indexes, against roughly 50 per cent in Ireland. But there was an 11.5-per-cent year-on-year fall in March, according to Tinsa, the surveyors. And the trough probably still hasn’t been reached………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

The main difference seem to be the real estate financing where Denmark HAD a stable financing of homes with fixed interest convertible annuities bonds.
These loans were originally granted without respect to the debtors ability and willingness to pay: I you defaulted – you were foreclosed and the property sold off at 80% (the limit a building society or mortgage bank was allowed to finance) of your original purchase price………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Property transactions in the Middle East and North Africa region staged a strong recovery in 2011 with a 20 per cent jump to hit $166 billion from $138 billion in 2010, a leading real estate investment and advisory firm said.
But the surge in property deals in the Mena region pales in comparison with the 30.5 per cent growth a resilient property market witnessed across the globe, most notably in the Americas, Jones Lang LaSalle, or JLL, said………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Saudi real estate market needs more than SR500 billion in the next five years to finance housing projects, a real estate expert has said.
Abdulhadi Al-Rashidi, GM, Real Estate Development Company, said there was a big drive for real estate development, both at governmental and private sector levels, or on public private partnership (PPP) basis, but difficulty arises when it comes to funding………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

Dubai’s office real estate sector remains highly competitive due to the high levels of supply – touching on 60 million sq ft, with an additional 10 million anticipated by the end of the 2012, a report said.
The effect of such high supply is that vacancy rates have remained high at approximately 40 per cent across the city………………………………………..Full Article: Source

Posted on 16 April 2012 by Laxman |  Email |Print

New Zealand house sales in March recorded the best monthly result since November 2007, adding to signs of a real-estate-market recovery that may boost consumer confidence and spending later this year.
Sales rose 25.3 percent from a year earlier, the Real Estate Institute of New Zealand said in a report today. Sales reached 7,330 in March from 6,168 in February, according to the figures, which don’t adjust for seasonal variations………………………………………..Full Article: Source

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