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Real Estate Briefing 01.Jun 2012

Posted on 01 June 2012 by Laxman |  Email |Print

With a strong pipeline of deals, transaction volumes of global investment in 2012 are expected to match 2011 levels, says Jones Lang LaSalle report. The world‘s major commercial real estate markets have been in recovery mode since the crisis of 2008/2009, with 2011 having shown the strongest evidence of an upswing so far.
As we move through 2012 nonetheless, first quarter market data suggests a slowing in forward momentum, with investment and leasing volumes down by about one-fifth compared to a year ago, according to Jones Lang LaSalle report on Second Quarter 2012 Global Market Perspective………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

Andrew MoylanInvestors in emerging market real estate are increasingly seeking local fund managers, according to research by Preqin. Fifty-nine percent of capital raised for emerging market private real estate investments in 2011 was committed to fund managers headquartered outside developed markets, such as North America and Europe, the firm found.
“The shift towards investors committing to local emerging market fund managers highlights the increasing sophistication of the real estate industry in many emerging market regions,” Andrew Moylan, Manager of Real Estate Data at Preqin, said………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

U.S. commercial-property investors are shedding their pessimism about 2012, with almost half expecting healthy profits this year, according to a survey by PricewaterhouseCoopers LLP. About 49 percent of respondents said they expected good, very good or excellent earnings for the year, up from 42 percent in November, the New York-based accounting firm said in a midyear update of its annual report on commercial real estate trends.
The percentage of investors expecting fair to abysmal returns dropped to 27 percent from 37 percent………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

Backed up by its increasing national wealth and population, Korean investors could become major customers in the U.S. retail real estate market, a U.S. expert said in Seoul on Thursday.
“Korea is in a great position with its wealth and population … and needs to invest overseas to diversify.” Joseph F. Coradino, president of Pennsylvania Real Estate Investment Trust, said……………………………………….Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

Home sweet home has been anything but for scores of Americans these past few years, and the picture hasn’t brightened much to date. The housing market is still hurting and the foreclosure fiasco continues to loom despite record-low mortgage rates.
Homes in some stage of foreclosure accounted for more than one in four home sales during the first quarter of 2012, RealtyTrac reported………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

Investing in rental homes is more than a numbers game. Finding the best to buy requires evaluating markets and neighborhoods, studying rent trends and reviewing things like crime stats, development plans and rental rules.
California provides the biggest opportunity for investors with 12 top rental markets, in the view of Local Market Monitor. Next is Florida with nine, then Texas with seven………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

The federal government, the nation’s top property owner, said Thursday that it is on track to save $8 billion by the end of the fiscal year by consolidating its real estate holdings and selling off the excess.
The government had achieved savings of $5.6 billion as of the end of the first quarter, according to the Office of Management and Budget, which said agencies are on track to add several billion more in savings by the end of the fiscal year………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

Just when you thought the U.S. housing market was getting up off the canvass, along comes a one-two punch that threatens to put homeowners down for the count.
First comes new data from the National Association of Realtors which shows pending home sales falling 5.5% in April. The decline includes a downward revision to March numbers, leaving the pendig home sales index measure at 95.5, still 12 points better than the April 2011 pending home sales activity………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

Hopes are high that US house prices have finally troughed. In seasonally adjusted terms, the Case-Shiller index reported its strongest quarterly gain in two and a half years between January and March. Another index from CoreLogic showed a third successive monthly price increase in April.
The median price of previously owned houses is up 10.1% year-on-year, says the National Association of Realtors. Sales of existing houses are at their highest annual rate in two years………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

The real-estate market is splitting in two, with wealthy buyers driving stronger growth at the top while the rest of the market continues to struggle. From $16 million log mansions in Aspen to $90 million glass-walled penthouses in Manhattan, high-end real estate is defying the broader real-estate slump and weak financial markets.
In local real-estate markets with a median home price of $1 million or more, prices are up more than 10 percent year over year, and inventory is down 10 percent, according to Altos Research, the real-estate analytics firms………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

US News and World Report identified the ten top retirement spots last year; seven of those were in Central and South America: “Central and South America offer the unbeatable combination of warm weather and inexpensive real estate.”
In an International Living analysis of the “world’s top retirement havens in 2012,” six of the top ten locations were also in this region of the world………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

House prices have managed to weather the recession by recording their first monthly increase since February, a study said. Prices increased modestly by 0.3% month-on-month in May following a 0.3% drop in April, with a lack of homes on the market helping to keep prices up, Nationwide said.
House prices are 0.7% lower than they were a year ago and stand at £166,022 on average, although this is a smaller drop than the 0.9% year-on-year decline seen in the previous two months………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

More distressed office portfolios are expected to come onto the market in the Netherlands, following the recent sales of the Uni-Invest and Orange portfolios, according to a research report issued by Kempen & Co.
The merchant bank said the Dutch office sector remains ‘in dire straits’ due to the high vacancy levels and expected write-downs,. As much as EUR 6 bn bn of CMBS debt is expected to come to maturity by 2014………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

The rich, and the savvy, are scouring Greek real estate ads. If the country leaves the eurozone, people with dollars, swiss francs and euros will be holding gold. All the better to swoop up prime Mediterranean villas.
According to a Reuters report, interest has spiked this year from international buyers preparing to capitalize on housing values the market thinks could fall by another 20% as the economic and political turmoil continues………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

Russian buyers have snapped up homes in Greek vacation spots, while the Mediterranean country continues through it’s economic crisis.
The Greek real estate market has dropped 30 percent over the past three years, according to the Bank of Greece. At the same time, Russian demand of many tourist-area properties has gone up………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

Recent REIDIN figures have revealed the rise in value of residential property in Dubai has surpassed that of Abu Dhabi, showing a sign of the Dubai property market’s continued strength.
Property prices in Dubai increased by 1.53 percent in April compared to March last year, whilst Abu Dhabi prices dropped by 0.65 percent. This has resulted in property prices in Abu Dhabi falling by 5.82 percent year-on-year………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

According to Jones Lang LaSalle’s regional market experts, office rents in Asia Pacific are holding steady in Q2 while more companies are maintaining a ‘wait and see’ approach to location decisions.
Jones Lang LaSalle’s Asia Pacific office leasing markets report for the second quarter of 2012 says those markets that were experiencing office rental declines in previous quarters are anticipating a slowdown in the rate of decline………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

Jones Lang LaSalle’s Markets experts have shared their expectations for the office leasing markets in Asia Pacific in the second quarter of 2012.
In those markets that were experiencing office rental declines in previous quarters, the Markets teams are anticipating a slowdown in the rate of decline, for example a three to four percent fall in Grade A office rents this quarter in Hong Kong compared to an actual 6.3 percent decline in the first quarter. Similarly, in Singapore a fall of three percent is anticipated by the end of the current quarter, compared to an actual 5.2 percent decline in Q1 2012………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

Vanke is rolling the dice. The company is China’s largest real estate developer. It also is carrying one of the steepest commercial real estate debt loads in the country. Despite unpaid loans approaching $1 billion, Vanke has announced it plans to acquire a 73.91% controlling stake in Hong Kong-listed Wing Tai Properties, for HK$1.08 billion (US $139 million).
The deal marks the Chinese developer’s first attempt to internationalize its portfolio. Vanke didn’t indicate when the deal would close……………………………………….Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

The property market will grow in line with the country’s recovering economy this year, but regulations still obstruct its development, say property developers and analysts.
Thongchai Busrapan, president of the listed developer Noble Development Plc, said the property market will be good this year, but regulations, down payments and price supports will hamper growth………………………………………..Full Article: Source

Posted on 01 June 2012 by Laxman |  Email |Print

Bureaucratic obstacles are helping prop up Australia’s $4.5 trillion housing market and neutralising the biggest risk to the country’s mortgage bonds.
While affordability measures such as household debt and home cost-to-income multiples exceed peaks seen in the U.S., U.K. and Spain, prices in Australia are showing signs of stabilising after dropping 7.6 per cent from their November 2010 high. That’s because there’s one missing ingredient for a property collapse: oversupply………………………………………..Full Article: Source

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