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Real Estate Briefing 27.Apr 2012

Posted on 27 April 2012 by Laxman |  Email |Print

Signed contracts to buy U.S. homes rose more than forecast in March as low interest rates drew buyers back into the market. The index of pending home purchases rose 4.1 percent to 101.4, the highest level since April 2010, after a 0.4 percent gain in February that was revised from a previously estimated 0.5 percent drop, the National Association of Realtors reported today in Washington.
The median forecast of 43 economists surveyed by Bloomberg News called for a 1 percent rise in the measure, which tracks contracts on previously owned homes………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

Liz FarmerWashington has artificially limited the supply of buildings, and that has resulted in a tight market with high prices. That’s great if you’re an incumbent owner of a building. It’s not so good if you’re someone who wants to be able to afford to live or start a business there.

Caps on development can prevent vacancy and make a city look “full” and “built out.” But this comes at a real cost—higher rents and lost opportunities for economic growth………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

More than 1 million Americans who have taken out mortgages in the past two years now owe more on their loans than their homes are worth, and Federal Housing Administration loans that require only a tiny down payment are partly to blame.

That figure, provided to Reuters by tracking firm CoreLogic, represents about one out of 10 home loans made during that period………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

Karl Case, co-creator of the S&P/Case-Shiller index of property values in 20 U.S. cities, and Michael Feder, chief executive officer of Radar Logic Inc., talk about the U.S. housing market. They speak on Bloomberg Television’s InBusiness With Margaret Brennan.……………………………………….Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

When it comes to ozone levels and year-round smog, these cities have the top air quality in the nation, according to the American Lung Association’s State of the Air rankings for 2012.
If you’re looking to breathe easier, look no further than Santa Fe. It took the top spot for cleanest air in all three of the American Lung Association’s pollution categories: ozone, as well as short-term and year-round particle pollution………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

A report by BMO says the waiting game for Canadians interested in buying U.S. real estate in select regions could be at an end. “While there’s little urgency, now is likely a good time to buy U.S. real estate in regions with relatively low foreclosure rates, as conditions should improve enough to put a floor under prices this year,” said Sal Guatieri, senior economist with BMO Capital Markets.
“The inventory overhang has ebbed, prices are low, and some pent-up demand exists. However, patience is a virtue for bargain hunters in areas saddled with distressed properties.”……………………………………….Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

Over the last five years, Brazil has been one of the best performing property markets in the world. MoneyWeek recently reported that prices in Rio De Janeiro and São Paulo have gone up 140% since 2008, while those in Brazil’s seven most important districts are up around 25% in the last year alone. And now, another leading analyst believes the boom is set to continue for another five years.

Forbes report that the Brazilian real estate market ‘has legs’ and that prices are expected to continue rising in the country until 2017. Keep reading to learn more about the excellent prospects for property in Brazil………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

NewBuy is set to benefit both first-time buyers and those looking to make their next move up the property ladder. If you’re a first time buyer looking for a new home chances are the biggest obstacle you’re currently facing is raising the funds for the deposit.
With many mortgage lenders requiring a deposit of around 20 percent many first-time buyers are being priced out of the property market………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

In the year to March 2012, Irish house / residential property prices at a national level, fell by 16.3%. This compares with an annual rate of decline of 17.8% in February and a decline of 11.9% recorded in the twelve months to March 2011.
Residential property prices remained unchanged in the month of March, according to the Central Statistics Office. This compares with a decline of 2.2% recorded in February and a decline of 1.7% recorded in March of last year………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

The retail market in Romania remains active in terms of constructions, both in Bucharest and in the countryside, according to a recent study published by Colliers International.
Although in the first quarter, only 5,000 m² of retail space were delivered to the market, by Nepi and Carrefour in Brasov, there is an additional area of 300,000 m² under active construction. Out of this, another 170,000 m² are announced to be delivered in 2012, most of it in the countryside………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

Ukraine’s real estate market has yet to recover from the bubble that burst in 2008-2009, triggering a freeze in construction and a tumble in residential property prices from a peak price of $4,000 or so per square meter.

With prices across the board settling in at more realistic levels, activity is simmering again, most notably in the commercial real estate segment. Investment is slowly finding its way, rebooting once-frozen construction projects even on the residential side. Demand remains strong for residential property………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

Although the Dubai property market is showing signs of a recovery, experts warn that potential buyers should avoid making sweeping judgments about price rises and use caution when comparing property values as the market is becoming increasingly fragmented.
Optimism about the Dubai property market has grown in recent months amidst a wave of positive reports from analysts. According to Jones Lang Lasalle, villa prices in the emirate began to recover towards the end of 2011 and are now at levels similar to early 2008………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

The macroeconomic trends have positively contributed to the demand of luxury real estate in India. For instance, higher income levels, changing demographics, growing aspirations, better availability of loans, etc., have all contributed towards the growth in demand.
Rapid globalization has also led to a seamless inflow of global lifestyle trends. Trends that exist globally are being incorporated in Indian projects on a real-time basis as many Indians today are frequent global travellers………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

Home automation is the one of the latest marketing buzzwords in the Indian real estate market. But do buyers care? Inside a spacious, 6,000 sq. ft, five-bedroom apartment of an upscale gated community in a Bangalore suburb, its inmates can put on the music, draw the blinds, and dim the light—all with a few touches of a touchscreen.
The mother can quickly check on her child playing in the garden, while sitting on her couch in the living room watching her favourite TV show………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

The number of high net worth investors (HNIs) and corporates seriously looking to invest in Indian office space has increased manifold in the last few years. Mumbai continues as India’s numero uno office space investment destination, with companies from all over the world unerringly zeroing in on the financial capital.

As South Asia’s only true financial hub, Mumbai is among India’s best places to invest in commercial real estate. In times of global economic uncertainty, investors flock to markets that have consistently proved their long-term stability and fundamentals………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

The Beijing Star Brand Building Materials West Factory has been demolished, and in its place is a construction pit crawling with dump trucks as cranes tower above. This is the future home of the Taiheyuan Affordable Housing Project, which will have grocery stores, restaurants, and 2,400 apartments for factory hands and other low-income residents.

As growth slows and real estate values slump, Chinese officials are counting on cheap housing to help prop up the economy………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

If property prices are a guide, Hong Kong is the most desirable place on Earth. Office rents, at some $160 per square foot a year, are now the world’s highest. New homes are also the dearest: one estimate puts prices 55% above those in London.
The luxury real-estate arm of Christie’s, a British auction house, has just opened its first Asian outpost in the city. That is a bold move. Prices have surged by some 50% since early 2009, returning them to the level seen before Hong Kong’s last property crash in the late 1990s. Is history about to repeat itself?……………………………………….Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

Hong Kong did not learn from the property crash and economic collapse of 1998. Instead, it has tried hard to reinflate the bubble. After squeezing supply for over a decade and with the help of the US Federal Reserve’s zero interest rate, the bubble is back. But it is a Pyrrhic victory.

Hong Kong’s economy is suffering. Between 1997 and 2011, nominal gross domestic product grew by 2.6per cent, per capita income by 2per cent, and the average salary by nearly 2per cent every year. Over the same period, the cost of living shot up - oil prices quintupled and food prices doubled - while China’s labour costs tripled. It’s easy to see why Hong Kong people are not happy………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

The Urban Redevelopment Authority (URA) released detailed private home price data for
the first quarter of 2012 on Friday: The URA’s flash estimate earlier this month showed private home prices fell 0.1 percent in January-March from the preceding three months.
The 0.1 percent drop marks the first quarterly decline in Singapore private home prices since the second quarter of 2009………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

Australia’s commercial property sector continued to weaken in the first three months of the year, with the slump expected to continue and retail properties faring the worst, a survey shows.

National Australia Bank’s (NAB) quarterly Australian commercial property index fell to -8 points in the March quarter, compared to -6 points in the December quarter, with forward expectations also dropping slightly………………………………………..Full Article: Source

Posted on 27 April 2012 by Laxman |  Email |Print

House prices throughout Australia grew slightly over the March quarter, the first positive news for the housing market in months.
Between January and March prices rose 0.9 per cent, the second consecutive quarter of growth, figures from property data provider Australian Property Monitors show.
The rise in prices over the last two quarters follows 15 straight months of falls, APM said. It also comes after a recent slump in building approvals, new home sales and lending………………………………………..Full Article: Source

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