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Real Estate Briefing 07.Jun 2012

Posted on 07 June 2012 by Laxman |  Email |Print

Sonny KalsiCanada’s commercial-property market is less appealing than “recovering” areas such as the U.S. and Asia as investors compete for assets, said Sonny Kalsi, founder and partner of GreenOak Real Estate LP.
“Canada’s a little bit too competitive and a little bit too expensive,” Kalsi said today during a speech in Toronto hosted by Queen’s University. “The U.S. is in a recovery, though it’s a challenged recovery.”……………………………………….Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

The residential real estate market in Canada may finally be starting to cool down. Housing prices increased in May by roughly five percent, which is about three and a half percent less than the increases experienced in previous months.
The performance of the market varied across the nation, with some cities posting significant losses while others posted tremendous gains. The city of Vancouver was one of the hardest hit, as the total number of home sales dropped by sixteen percent. Toronto appears to have finally started to cool after many months of unprecedented growth………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

In a report on its 12 regional districts known as the “Beige Book,” the Federal Reserve said that “overall economic activity expanded at a moderate pace.” That’s not particularly great news. The “moderate pace” thing is the same line we’ve been hearing for months now.
“Moderate” is actually one of the better scenarios in recent Fed parlance. Economic improvements have been a mixed bag of “moderates,” “modests,” and “steadys” for some time. Actually, you could take the current report to be slightly gloomier than the last one in April, since the Philadelphia district reported a slowing economy this time around………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

Unlike traditional apartment renters, a section of American tenants are older and have kids, U.S. Census Bureau data indicate. As they move from homes they owned to ones they rent, they’re changing neighborhoods for better and for worse.
They’re fueling a land-rush as investors snap up homes, mostly in markets hard-hit by foreclosure, to rent to them. And their growth — in cities from Florida to California — has implications for home builders, school districts and companies that will jockey for the dollars they used to invest in homes, predict Wall Street analysts and demographic researchers………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

The foreclosure crisis will drive about 3 million former homeowners to rent single-family homes between 2010 and 2015, according to estimates by John Burns Real Estate Consulting.
USA Today reports rise in home renting, and the change in renter demographics (older tenants, often with kids), are reshaping real estate markets across the country as investors rush to buy up rentable homes………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

US property prices are up across the country and expected to keep rising, according to Clear Capital. The average house price grew both on a quarterly (0.4 per cent) and year-on-year (0.1 per cent) basis in May, the asset valuation firm reports, the first time this has happened since August 2010.
This was true of all regions across America, apart from the Midwest, where values declined at a slower rate compared to the company’s previous report………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

Regarded as one of the most successful investors in the world, American business magnate and philanthropist, Warren Buffett, recently stated that although the US property market had disappointed him during 2011, he hasn’t giving up hope. In fact, he was reported to have said that he would buy up millions of US homes, if it were possible.
Buffett, who is the chairman and CEO of Berkshire Hathaway, said in his annual shareholders letter that although the housing market did not rebound last year as he had expected, 2012 would be a different stage and he is once again betting on the housing market to recover………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

Europe, the Middle East and Africa (EMEA) was the worst performing region globally for real estate investment value in the first quarter of 2012, according to the latest CBRE Capital Value Index. EMEA recorded 0.7% growth in capital values compared to 7.6% in the first quarter of 2011.
The Americas were the strongest performer, registering 9.6% growth………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

Strong portfolios and benign funding conditions in the relatively low-geared segment of European real estate make for a stable ratings outlook among rated real estate investment trusts (REITs) and developers in the region.
What’s more, these factors should support the creditworthiness of issuers in this industry through 2012, says a report published earlier today titled “Rising Debt Costs And Investment Pipeline Uncertainties Threaten Stability Of European Real Estate Sector.”……………………………………….Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

Rents for prime offices remained stable in most major European markets in Q1 2012, with the CBRE EU-27 Prime Office Rent Index edging up by 0.1% during the period.
The stability of CBRE’s index masked modest increases in a handful of European markets, notably in Hamburg (+4.3%) and the Nordic markets, as well as declines in southern Europe and Ireland - reflecting the ongoing effects of the economic difficulties in the eurozone………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

Growth in the UK construction sector slowed to a three-month low in May, according to a closely-watched survey. The Markit/CIPS purchasing managers’ index (PMI) for construction fell to 54.4 last month, from 55.8 in April.
However, the reading indicates that the sector is still growing, as a figure above 50 implies expansion. Office for National Statistics figures found a fall in construction output in the first quarter of 2012 contributed to the economy contracting………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

Market research by Halifax, one of the leading lenders in the UK, revealed that the cost of homes in the UK has risen by more than 100 in the past 60 years.
When Queen Elizabeth II just came to reign in 1952, an average property in the UK was priced at 2,200 pounds. Now house prices have risen to 225,283 on average………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

House prices in London and the South East will rise as the cost of homes in northern England and Scotland continues to fall, a report has claimed.
The study by the Centre for Economics and Business Research (CEBR) claims that prices in London and surrounding areas will grow by over 2% during 2012, with the capital remaining unaffected by the UK’s return to recession………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

London has come second in a regional list of the richest places in the UK regarding property. The capital came second with just over £1 trillion, according to property website PrimeLocation.com.
Surrey is the richest county in the UK when it comes to property, said the survey. Its homes have a total value of almost £288 billion, representing 5.1% of the UK’s £5.6 trillion overall property wealth. Surrey also has the most property wealth per head at £255,125 each, according to property website PrimeLocation.com………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

Dutch government plans to drastically reduce the number of locations it occupies will add significantly to the problems in the country’s office segment, real estate researchers have warned.
Real estate professor Dirk Brounen told newspaper Het Financieele Dagblad that plans to slim down the national government will lead to a 25% reduction in the office space occupied by ministries and state agencies by 2020………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

A private investor has reportedly acquired a 17,000 m2, secondary grade office building in the Dutch city of Leiden at a 15% yield. The investor paid EUR 16.5 mln to buy the Eurocenter from London-listed Matrix Group.
This was the largest real estate transaction in Leiden and the surrounding area so far this year, and the net initial yield is a new benchmark for secondary office assets in the Netherlands, PropertyNL - the Dutch-language sister publication of PropertyEU - reported………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

A sales report for May has sounded an optimistic note on the country’s under-pressure housing market. The report, released on Tuesday by SouFun Holdings Ltd, suggests that after a long chill in new property sales, the majority of Chinese developers have recorded fresh peaks in May.
The upbeat trend is expected to continue in June, said analysts, but prices are likely to remain largely static, they cautioned………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

Hong Kong’s property market is at risk in the next six months of a sharp downturn in prices, Macquarie analysts said in research released earlier this week.
In a note dated Tuesday, the brokerage warned of divergence in real-estate prices, which are up 7.6% since the start of the year, and the share price of major property developers, which are down 0.4% as a group. “The physical property market looks precarious over the next six months, and we don’t think developers’ stocks have factored in a worst-case scenario yet,” Macquarie said………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

Financial Secretary John C Tsang has confirmed that the government would introduce further measures, if necessary, to ensure the stable and healthy development of Hong Kong’s residential property market.
In remarks to the Legislative Council, he has urged individuals to be prudent and aware of the potential risks when buying property, warning that Hong Kong must be well-prepared to face deterioration in the external environment and a further slowdown in the city’s economy………………………………………..Full Article: Source

Posted on 07 June 2012 by Laxman |  Email |Print

Auckland property sales are booming with the housing market experiencing its busiest May since 2005 and average sale prices reaching a record $582,285. More than 90 homes sold for more than $1 million.
Figures released today by Barfoot and Thompson - which sells about a third of residential properties in the city - show demand is continuing to outstrip supply with buyers scrambling for the few properties on offer………………………………………..Full Article: Source

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