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Real Estate Briefing 19.Apr 2012

Posted on 19 April 2012 by Laxman |  Email |Print

Nouriel RoubiniEconomist Nouriel Roubini described it as the biggest US housing slump in half a century. It was so big, it helped bring down one of the world’s biggest investment banks, Lehman Brothers. What followed was a complete freezing of international credit markets and what’s been dubbed ‘The Great Recession’.
House prices in the US have since been bouncing along the bottom of the market. Now market watchers are selling the idea of Australians owning US property………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

Foreclosures are down and short sales are up, but what does this mean for the real estate market as a whole? The answer depends on who you ask.
But first, some background: Short sales occur when a lender agrees to sell a home for less than what is owed on the mortgage. The lender forgives the difference, and the borrower unloads a home they can’t afford………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

No one is claiming that the housing debacle will be over quickly. But news this week seems to indicate solid progress. Several reports show the ground under homeowners’ feet growing more solid.
Home prices are on a gentle roll. In March, for the second month in a row, sale prices in 53 metro areas came in higher than the year before, according to the RE/MAX National Housing Report………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

From Athens, Ohio to College Station, Texas, real estate investors are buying up properties in college towns that offer a steady stream of renters and stable, prosperous economies.
Looking to be a landlord? Buying property in college towns typically translates into stable rental returns, no matter how the economy is faring. Not only do colleges provide a steady source of jobs for the local economy, but enrollments have swelled as the unemployed go back to school seeking new job skills………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

Happy 65th to the estimated 10,000 Baby Boomers who passed the threshold into senior citizen status today. And an early congrats to the 10,000 more who will follow tomorrow. You represent a segment of the population driving a series of radical changes in the way the U.S. looks and works.
That trend of 10,000 freshly minted 65-year-olds a day is expected to continue into 2020, when an estimated one-fifth of the U.S. population will be 65 or over………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

There is a lot of land to be bought and a lot of buildings to be built. For big projects, it would be very good to have investors that would make it possible to build an entire project at once instead of taking it step by step.
The price for a m2 of land is now very high. In the real-estate business I’m now building around 800,000 m2; if you turn that into 100 m2 apartments, you’ll get 8,000 homes. Most of the 800,000 m2 are for the final consumer and not for speculation. The price per m2 in Brasília is one of the highest in Brazil because the land is expensive. You can get less expensive land in São Paulo or Rio de Janeiro………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

Evidence of an improving economy in the first quarter of 2012 will buoy demand for office space in London as the year continues, according to Knight Frank Research.
Central London saw a slowdown in activity due to difficult economic conditions in the last months of 2011 but the consultancy is now forecasting a fall in office supply by the end of the year in the City and the West End office property sectors………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

After years of growth, the real estate market in the Czech capital has seen a slow but steady decline, with decreasing prices and many more new listings having turned Prague property into a buyer’s market.
One factor behind the change is waning interest from foreigners to invest into real estate in the Czech capital. However, some parts of Prague have become more attractive for Czechs and foreigners alike, while others remain popular primarily with foreign clients………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

The president of the Malta Developers Association has claimed government-appointed architects are being “guided” by the Inland Revenue Department on the ‘discerned’ market value of properties, resulting in higher tax claims on purchased property.
Michael Falzon, a former Nationalist minister, has suggested that buyers and vendors who find bargain properties in the current dampened market are being taxed on the difference between the bargain price and the discerned market price………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

Rents for high-quality office property in Abu Dhabi are predicted to stabilise this year, while further declines are expected in non-prime developments, a property consultancy said.
“Within the commercial market, rents continue to soften, particularly in secondary stock or non-prime developments,” said Paula Walshe, the associate director for commercial leasing at Cluttons Middle East………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

China’s residential construction market is about to undergo a significant reduction in activity, and will thus consume a lot less of these materials, leading to price and volume plunges around the world.
This thesis was initially predicated on the fact that real estate prices in China were already falling, and thus it is expected that activity would soon follow, as is our experience from past real estate booms around the world, with the U.S. being a prime example………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

China’s average new home price fell last month from a year earlier, the first decline in two years, raising investors’ hopes that property calming policies may soon be eased.
New home prices fell 0.7 percent, according to Reuters’ calculation using data published by the National Bureau of Statistics on Wednesday. They fell in 37 of the 70 cities the bureau monitors, widening from 27 in February………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

China’s campaign to tame housing costs showed fresh progress in March, as new-home prices in major cities posted their first year-on-year decline since Beijing began cracking down on the housing market two years ago.
But with sales volumes showing signs of revival and prices continuing to rise in some markets, analysts said the central government’s tough restrictions could continue or even intensify………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

SouFun Holdings Ltd. led Chinese property stocks lower in New York trading after home prices in the nation tumbled, raising concerns the world’s second-largest economy will slow further.
SouFun, owner of China’s largest real estate website, fell from the highest level in two weeks. Property agency services E- House China Holdings Ltd. dropped for the third time in four days. The Bloomberg China-US Equity Index of the most traded Chinese shares in the U.S. was little changed at 102.76. Casino operator Melco Crown Entertainment Ltd. climbed to the highest level in eight months………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

Hong Kong’s property market is set to stabilize following a volatile 2011, with home prices projected to rise 10 percent this year, a moderate increase compared to the huge gains seen in 2009 and 2010, industry watchers tell CNBC.
Last year, the sector was characterized by price swings – with home prices accelerating 13 percent in the first-half, but falling 5 percent in the second-half on growing fears over a global economic slowdown and the euro zone debt concerns. Price declines in the second half of the year meant that average home prices grew 8 percent over 2011, according to Nomura research………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

Malaysia is trying to mitigate a US-style subprime mortgage lending crisis after it reported an average 6.6 per cent jump in home prices in the fourth quarter of last year.
“The government is worried about property prices causing a bubble, and we don’t want banks to over-lend to the property sector,” Deputy Finance Minister Datuk Donald Lim was reported as saying………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

Property consulting firm Cushman & Wakefield claim average gross rentals for office space increased in Jakarta by 9.5 per cent from the previous quarter. The limited supply of office space in the CBD has been attributed to the price rise.
The rising prices will not cause a property bubble claims Cushman & Wakefield’s research and advisory head, Arief Rahardjo………………………………………..Full Article: Source

Posted on 19 April 2012 by Laxman |  Email |Print

The housing market is warming up, especially in Auckland. Is this the start of another economically debilitating and socially destructive boom, like that of the mid-2000s?
Probably not. The pick-up in housing market turnover is from a depressed base while the rise in prices, so far modest, is from a very high base relative to incomes………………………………………..Full Article: Source

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