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Real Estate Briefing 23.Apr 2012

Posted on 23 April 2012 by Laxman |  Email |Print

ApartmentsGlobal real estate markets had a forgettable last year, with prices rising a paltry 0.5 percent, leading to gloomy forecasts for 2012. But over the past five years, prices have registered huge gains, sparking fears of an asset bubble and concerns over the impact of high household debt.
We’ve put together a list of the world’s 10 hottest property markets based on research by global real estate consultancy Knight Frank, which ranks countries according to highest average growth in housing prices from the fourth quarter of 2006 to the same period in 2011………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

Stefane MarionHere’s one more factor buoying average home prices: young and middle-aged adults. Canada stands out among the 34 countries in the Organization for Economic Co-operation and Development with one of the fastest growth rates in housing prices since 2007, note Stéfane Marion and Matthieu Arseneau, economists at National Bank Financial Inc.
Low interest rates and decent job creation have helped boost prices, the economists said in a report………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

Parts of the Canadian housing market, especially condominiums in some major cities, have seen prices jump to levels that warrant caution, the head of the country’s central bank said in an interview broadcast on Saturday.
“There are issues, particularly in some parts of the country in the condo market, without question, where activity has been particularly strong, has reached back to levels of the late 1980s,” Bank of Canada Governor Mark Carney told CBC Radio when asked if Canada was experiencing a housing bubble………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

The National Association of Realtors published existing home sales data for March; it was down. But, the strength of January home sales gave a lift to the quarterly read. Housing starts data for March show a drop in new homebuilding activity but the first quarter average shows a gain of 10.5%.
New home sales numbers will be published on April 24. Sales of new homes fell in January and February, a sharp increase in March sales will be necessary to give a boost to the quarterly average. These numbers need to be viewed in a historical context to evaluate the current status of the housing sector………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

Sales of public sector assets across Europe rose sharply in 2011, more than doubling to EUR 2.3 bn, according to research from CBRE. With government debt close to or exceeding 100% of GDP in several European economies, there is a well-established appetite to raise capital from the sale or development of public property assets.
Analysis of the 2011 figures reveals that sales of public sector property assets in 2011 were largely concentrated in four markets; Germany, Sweden, Russia and the UK. These markets accounted for 75% of public sector property sales across Europe………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

In the wake of the financial crisis, London office properties proved a popular play among real estate investors. Three years on, though, the appeal of property in the UK’s capital is beginning to wane, with some of the largest investors in the market choosing to hunt for gems elsewhere.
Standard Life Investments (SLI) fund manager Jason Baggaley believes that, after a strong run, too much capital growth has been priced into prime central London sites………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

Despite the euro crisis, France and Spain are still the most popular countries for Britons looking to buy property abroad, according to a survey. As many as 35% of those interested in foreign property are opting for France and 16% for Spain, the poll from currency company HiFX showed.
The next most sought-after countries were the USA, Australia, New Zealand, Germany and Italy. The survey showed that 25% of Britons believed it was cheaper to own or run a property abroad than in the UK………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

Spanish Economy Minister Luis de Guindos rejected the creation of a state-sponsored “bad bank” to unload real-estate assets from the nation’s cash-strapped lenders.
Instead, de Guindos said lenders should move real estate assets into separate “entities” or create “securitized assets” for which they have already set aside provisions so that distressed properties can be more easily valued and sold………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

Real estate investment volumes rose strongly in the Nordic region in the first three months of the year while the rest of Europe saw a slowdown, CBRE has reported.
The property adviser said the decrease across Europe largely reflected a seasonal slowdown in activity. The commercial property investment market totalled just under EUR 24 bn in the first quarter of 2012 (Q1 2012)………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

Israeli housing prices have fallen during the past year, though not by much. The slight dip is the result of pressure from the top and the bottom - brought down by last summer’s cost-of-living protests, on one hand, and government policy aiming to increase the supply of “affordable housing” on the other hand.
But only buyers in some cities reaped the benefits of the decline. And while the government strived to alleviate the supply constraint, by freeing up land for housing development, for example, potential buyers climbed onto the fence in the hope that prices would go down. So many sellers held onto their property rather than sell at a discount; and the deal flow slowed………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

A lack of retail facilities at several of the new residential developments in Abu Dhabi has to be addressed as it is dragging down prices of property in the capital, a property consultancy warns.
This year is likely to prove challenging for the Abu Dhabi residential market as more supply comes in, with further declines in values and rents expected in most locations, Cluttons said in its latest report on the capital………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

Dubai Government, represented by the Dubai Land Department , will issue a new law to organise the relationship between real estate investors and developer during the construction of projects, in June reported Al Bayan newspaper.
According to Sultan Bin Mejren Director General of Dubai Land Department , the new law will be the first of its kind devoted to the protection of a specific segment of investors and ensuring their rights………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

National Bank of Abu Dhabi has launched a real estate fund in partnership with a Kuwaiti firm to seek investment opportunities in the UAE’s property sector, the lender said on Sunday.
NBAD, the UAE’s top bank by market capitalisation, has teamed up with Kuwaiti firm Gulf Investment Corp for the venture, which it plans to convert to a real estate investment trust (REIT) in the future………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

There is bad news for real estate players who are looking for funds from private equity players. PE players in real estate say that funds are drying up due to lack of investment expertise and developers should brace for other sources of funding.
Domestic funds, however, continue to be somewhat bullish on mid-segment residential and redevelopment projects. According to private equity and venture capital database Venture Intelligence, the sector has witnessed 12 investments (amounting to $477 million across 10 deals) during the quarter ended March 2012………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

The Land Registration and Statistics Department under the Ministry of Natural Resources and Environment has reported that 299 foreign expatriates and non-resident Vietnamese have bought houses in Vietnam.
According to the Siagon GP Daily, 252 chose to buy houses in Ho Chi Minh City, while four preferred to buy in Hanoi………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

Since realty fever in 2007, the condo segment for the first time has experienced a free-fall in price in the primary market, said an executive of CB Richard Ellis Vietnam (CBRE) at a recent press briefing relating to real estate in the capital city.
Around 53% of newly-launched apartments in the first quarter were priced at below VND21 million per square meter at favorable locations like My Dinh, Dinh Cong and Cau Giay urban area………………………………………..Full Article: Source

Posted on 23 April 2012 by Laxman |  Email |Print

Residex boss John Edwards has given a relatively upbeat assessment of the national property market – with the notable exception of Melbourne. The major worry is in Melbourne, where Edwards says there is an overhang of stock.
“I’m worried about Victoria,” he says. “When I look at the Victorian economy, I can’t see anything that’s actually going to do it any good.” He says: “It’s on the wrong side of the ledger,” noting what he called a 70% overhang of stock in Melbourne, the largest stock overhang of any capital in Australia………………………………………..Full Article: Source

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