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Real Estate Briefing 20.Apr 2012

Posted on 20 April 2012 by Laxman |  Email |Print

Steven WoodSales of previously owned U.S. homes in March unexpectedly fell for the third time in the last four months, showing an uneven recovery in the housing market. Purchases dropped 2.6 percent to a 4.48 million annual rate from 4.6 million in February, the National Association of Realtors reported today in Washington.
The median forecast of economists in a Bloomberg News survey called for an increase to 4.61 million. In January, sales at a 4.63 million rate were the strongest since May 2010………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

Gus FaucherThe housing market continued to struggle in March, despite low home prices and record low interest rates, an industry report revealed Thursday. Sales of existing homes fell 2.6% compared with a month earlier, to an annualized rate of 4.48 million homes, the National Association of Realtors said.
Gus Faucher, a senior economist at PNC Financial, called the report disappointing. “We were expecting an increase,” he said. “We need a turnaround to help the economy recover.”……………………………………….Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

The asking price is the starting point for all home sales, a ballpark figure typically close to what buyers end up paying. But the nation’s real estate market is so out of whack, experts say, that in many cities the gap between the asking and purchase prices has grown enormous. In fact, while home sales are on the decline nationally, list prices keep rising.
Existing single-family home sales fell 2.6% in March from a month earlier to a seasonally adjusted rate of 4.48 million units, according to data released Thursday by the National Association of Realtors………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

Short sales outnumbered foreclosure sales in 12 states in January, indicating that more homeowners are finding an easier way out of a distressed home loan.
Short sales — which occur when a lender agrees to a home sale for less than what’s owed — were up 33% in January year-over-year, and preliminary February numbers also look strong, according to market researcher RealtyTrac………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

The latest idea by policy makers and home mortgage lenders to tackle the foreclosure crisis seems like a winner: instead of throwing delinquent home owners onto the streets, lenders foreclose on the home and then turn around and rent it back to the erstwhile homeowner.
Even the Federal Reserve gave its nod of approval earlier this month to the strategy, releasing guidelines for lenders on how to account for these homes………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

A vast majority of Canadians wouldn’t enter a bidding war to close a deal on a new home despite a hot real estate market, a new study says.
Only 25 per cent of people surveyed would willingly enter a bidding war on a home they wanted to buy, while 75 per cent would refuse, the web-based survey by Leger Marketing for BMO Bank of Montreal released Thursday found………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

European real estate investment slowed markedly in the first three months of 2012, surrendering the strong momentum evident in the final quarter of last year, according to figures from PropertyEU Research.
PropertyEU recorded EUR 17.7 bn of real estate transactions above EUR 20 mln between January and end-March this year compared to some EUR 26 bn for the final quarter of 2011. This represents a drop of 47%………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

London continues to lead the way for Private Rented Sector investment appetite, capital value outlook and future income expectation, the latest Yong Index reveals.
Almost half - 46% - of Private Rented Sector (PRS) investors are considering purchasing additional homes in London over the coming 12 months, in order to take advantage of rising rents and potential future capital appreciation………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

First quarter publicly built apartment sales totaled 1,288, 16% fewer than in the corresponding quarter, but 46% more than in the preceding quarter.
Apartment sales data for March 2012 point to a further cooling of the real estate market. Sales of new apartments built in Ministry of Housing and Construction tenders (i.e. public housing) totaled 386 in March, 26% fewer than in March 2011, and 15% fewer than in February………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

Majority of the developers in Saudi Arabia are focusing more on the affordable housing segment for lower and middle-income classes than on luxury villas and higher-end housing schemes, a new research report by RNCOS said.
The housing demand in the country is projected to reach around 0.33 million units by the end of 2014………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

A largely unregulated market with massive presence of unprofessional players is a major contributing factor to Qatar’s unstable property sector. Despite emerging as one of the key markets that power the local economy, the country’s real estate sector is still relying on traditional valuation methods.
Property market has a key role in the economic take-off of the country. But it is important that this new-found real estate wealth is properly maintained………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

The housing market in Dubai performed well over the course of March as prices moved forward in a slightly more positive market, according to the Dubai Residential Property Sales Index.
This could mean the market is ripe for investors planning to transfer money overseas in order to fund the purchase of a new home, with the possibility of growth pushing house prices up even further………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

Sale of flats in Mumbai will continue to remain sluggish even after the Reserve Bank of India on Tuesday reduced by 50 basis points its repo rate. “The interest cut won’t make homes affordable as property prices are already high and are unlikely to come down given the high input costs,” said a property consultant.
Developers say they have had to increase property prices by 5% to 10% as the cost of funds has increased along with input costs and other expenses………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

Property in India is increasingly popular with British buyers. The country jumped into the top ten of ‘most searched foreign destinations’ last month and a major international property company has recently stated that they expect property prices in the country to rise in 2012.
Probable interest rate cuts in India over the next few months are also expected to help demand for property and to boost house prices. Keep reading to learn more………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

More than a year ago, while there have been sign that real estate developers are highly leveraged and their costs of borrowing were getting higher, we actually had relatively little idea on what the smaller guys were up to, particularly for those who are not listed on the market, except that we suspect it could be worse. Now pieces are falling into place.
For more than a year, I have been suggesting that a cooling real estate market would be triggered by highly-leveraged real estate developers who find themselves in trouble as they were over-aggressive in expansion………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

Thailand’s Government Pension Fund, which manages about $17.5 billion of assets, is planning its first investments in U.S. and European commercial properties for higher returns than those generated from domestic bonds.
The country’s third-biggest money manager will spend about $250 million this year buying the properties, Sopawadee Lertmanaschai, the agency’s secretary general, said in an interview at her office in Bangkok yesterday. The fund is selecting companies for advice on these investments, she said………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

Although this year marks the 40th anniversary of the normalization of diplomatic relations between Japan and China, storm clouds have gathered in the East China Sea.
Tokyo Governor Shintaro Ishihara, 79, a long-time hardline conservative who always calls China “Shina”, a derogatory Japanese term, has said the Tokyo metropolitan government will buy three of the disputed Senkaku Islands, irritating Beijing………………………………………..Full Article: Source

Posted on 20 April 2012 by Laxman |  Email |Print

Many investors have included public and private REITs (Real Estate Investment Trusts) as part of their diversification strategy. This has richly rewarded them, as REITs have handily beaten the S&P 500 by over 60 percent over the past three years.
With this tremendous growth in certain REIT sectors, it has become harder and harder to find discounted commercial REITs that offer significant future growth potential………………………………………..Full Article: Source

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