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Real Estate Briefing 25.Apr 2012

Posted on 25 April 2012 by Laxman |  Email |Print

Peter HobbsGlobal commercial property, as measured in local currency, delivered a 9.8% total return in 2011, according to the IPD Global Annual Index. Peter Hobbs, Senior Director of Group Business Development at IPD, who presented the results said, “Of particular interest is the divergence between the two largest markets, the US and Japan.
In the US, continued yield compression delivered strong (14.5%) double digit returns for the second consecutive year, whilst in Japan returns remained flat (at 3.5%), due to further value declines and the low income yields.”……………………………………….Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

Sales of new homes in the U.S. fell last month, but still are edging higher than in the last months of 2011. The government’s Commerce Department said Tuesday that buyers in March bought new houses at an annual pace of 328,000, off more than 7 percent from a spurt in sales in February.
The sales pace is slightly higher than in the last quarter of last year, but less than half the 700,000 figure that analysts consider the sign of a healthy market………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

A host of housing indicators offered mixed signals about the weak U.S. real-estate market on Tuesday. New-home sales in March fell from their February level, the Commerce Department said. Home prices hit a new low in February and were 3.5% below their year-earlier level, according to the Standard & Poor’s/Case-Shiller index, which tracks home prices in 20 cities.
But beneath those lackluster headline numbers, there were signs that housing could be improving slowly. The 3.5% annual decline in the Case-Shiller index represented an improvement from a corresponding 3.9% year-over-year drop recorded in January or the 4.1% drop in December………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

Rising foreclosures are weighing on the U.S. housing market, reducing prices and keeping new-home sales weak. Foreclosed homes are usually sold at steep discounts, thereby lowering average prices. And by expanding the supply of low-priced previously occupied homes, foreclosures tend to limit demand for new homes.
Some economists expect foreclosures to keep prices under pressure this year, even though they think sales of previously occupied homes will rise………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

One of the reasons U.S. policy makers failed to see the financial crisis coming was because they misread the housing market. In 2005 and 2006, U.S. treasury secretary John Snow said repeatedly that there was no such thing as a national housing market. Home prices were dictated by local factors, Mr. Snow and almost everyone else believed. That’s why troubling signs in places such as Florida and Arizona didn’t register as an issue worthy of national attention.

We know now that Mr. Snow and others were severely mistaken. They missed that the United States was in the grip of a home-buying frenzy, driven by cheap credit, an explosion of securitization, and shoddy lending standards. It was a national bubble, and prices plunged in concert across the country………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

After the US sub prime mortgage disaster and subsequent global financial crisis, Australian investors are being drawn in to the American property market but face potential pitfalls and predators.……………………………………….Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

Canadian real estate investment trusts have rallied to the highest levels in five years as rising occupancy and investor demand for yield outweigh concern the Bank of Canada will raise interest rates to cool the market.
The S&P/TSX Capped REIT Index has climbed to within 0.2 percentage point of a March 13 peak of 162.75, the highest level since July 2007, fueled by dividend yields almost twice the average for the Standard & Poor’s/TSX Composite Index. The gauge has gained 6.3 percent this year, beating the 0.3 percent increase in the broader index………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

Canadian REITs are no longer just reliable income plays. They’re becoming takeover targets – with juicy premiums being paid in several recent cases.

The latest acquisition among real estate investment trusts came last week when Northwest Value Partners Inc. paid a 61 per cent premium to acquire GT Canadian Medical Properties REIT………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

New European banking regulations are expected to force further deleveraging in the real estate sector and will increase the existing debt funding gap across key European markets, according to DTZ’s new edition of its Money into Property 2012 Europe report.

The survey indicated that sentiment among both lenders and investors has deteriorated in the past year//. Lenders expect less new lending and tighter conditions, with a further decline in existing loan performance………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

People are becoming increasingly optimistic about the housing market in Scotland, a survey has revealed. The Bank of Scotland Housing Market Confidence tracker showed a third (33%) of respondents believe property prices will rise in the next 12 months, compared to 23% who expect them to fall.
As a result, the headline House Price Outlook balance, which shows the difference between the proportion of people that expect house prices to rise rather than fall, increased to an overall score of 10% in March, more than double the reading of 4% in the same survey carried out in January………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

If you want to find out what’s going on in the financial world it usually pays to look at the bond market. Bond investors tend to focus more on the facts, and be less emotional than equity investors.

A great example is Bill Gross, one of the world’s best bond investors. In 1998 he wrote a great book, Bill Gross on Investing. It’s full of good advice. But for me, the best part of the book is Gross’s “plankton theory” and its application to the housing market………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

Headlines screaming that UK property prices have reached an all-time high may have prompted a smug smile on the faces of homeowners.

But average house price indices should be taken with a large vat of salt, because they are completely irrelevant to the values of many UK homes. Indeed, the all-time high figure reported will have seemed staggering to many people up and down the country, when the housing market on their doorstep is definitely still in the doldrums………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

We don’t expect French banks’ creditworthiness to suffer from a potential 15% decline in residential property prices over 2012-2013.
We consider that the housing market remains a supportive factor in our ratings on the country’s banks, particularly owing to the good credit quality of the loan book……………………………………….Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

During Q1 2012 Moscow’s office market saw a low volume of new supply, high tenant activity, falling vacancy rates and stabilization of rental rates, according to the latest research by CBRE.
A low volume of new supply was observed in Q1 2012. Just 111,300 m² of office space was delivered to the market (55,000 m² less than in Q4 2011). Analogous figure for Q1 2011 totaled to almost 190,000 m². According to announcements from developers, the total new supply in 2012 will be about 700,000 m²………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

If you are a prospective homebuyer and are looking to invest in one of the upcoming under-construction apartment projects, this may be the right time to enter the market. According to a survey conducted independently by Mint Money among developers, about 30% of the developers (maximum among those surveyed) are not planning to increase the prices of their projects.
While some have already increased prices, others will do so only by the next quarter or so, leaving a window of opportunity open for you. The survey was conducted among 22 developers across Delhi, Mumbai and Bangalore through email. Out of these, four did not respond to our queries. Surveys by two research firms, Crisil Research and Colliers International, indicate stability in prices………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

The real estate market was on fire. Buyers were snapping up sparkling new condos faster than developers could build them. Investors were grabbing two, three, four apartments each, hoping to cash in on skyrocketing prices.
But then the music ended. Prices started to slide. Developers were stuck with empty buildings. Homeowners saw their wealth begin to slip away. Sound like the United States in 2007? Nope. It’s China in 2012………………………………………..Full Article: Source

Posted on 25 April 2012 by Laxman |  Email |Print

Singapore may introduce additional measures to cool the housing market after private home sales reached a record in the first quarter as more “shoebox” apartments were sold, property services company Jones Lang LaSalle and brokerages including Nomura Holdings said.

Home sales climbed to 6,682 units in the three months ended March 31, the highest quarterly figure since 1996 when the Urban Redevelopment Authority began reporting the data. Prices rose 1.2 percent for the mass market in the same period, preliminary estimates from the authority showed earlier this month………………………………………..Full Article: Source

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