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Real Estate Briefing 13.Jun 2012

Posted on 13 June 2012 by Laxman |  Email |Print

The six-year slide in U.S. home prices and the dollar’s weakness against some currencies are driving a property-buying binge by Asians, Canadians, Europeans and Latin Americans eager to own a piece of America.
Plowing money into real estate may sound like a risky venture to many Americans. But to growing numbers of foreigners, U.S. housing has never seemed a smarter investment………………………………………..Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

Lured by bargain home prices, foreign buyers stepped up their purchases of U.S. homes by 24% over the past year, according to an industry trade group. The National Association of Realtors reported Monday that $82.4 billion worth of homes were sold to international buyers in the 12 months that ended in March, up from $66.4 billion the year before.
U.S. prices have fallen by about a third from their 2006 peak and are at their lowest level since 2002, and foreign sales were especially strong in states where prices dropped even more sharply………………………………………..Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

As property values have fallen precipitously over the past several years thanks to a catastrophic housing bust, foreign buyers are increasingly eyeing U.S. real estate and snapping up properties in the nation’s hottest markets.
While that might seem like financial suicide to most Americans who have lived through one of the nation’s worst housing crises, the picture looks a whole lot different to international buyers, many of whom hail from rising economic powerhouses abroad. As their home countries have flourished, so too has the affluence among some residents………………………………………..Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

Toronto home prices could fall 15% over the next three years, according to a report released by Toronto-Dominion economists Monday. Yet, Toronto is a hot spot with brisk activity in its housing market, according to the Royal Bank of Canada’s June Economic Outlook.
Furthermore, the housing market in Canada is cooling according to the May housing starts released by the Canada Mortgage and Housing Corp. So clarity on the future of the city’s real estate market is hard to come by, it seems. Is the housing market cooling, bubbling, bursting or booming?……………………………………….Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

The majority of European industrial investment markets recorded a quiet start to the year following a flurry of activity in the final quarter of 2011. Notable exceptions were Germany and Poland with the sales of two logistics portfolios sold by Prologis and comprising six properties and two logistics parks in Germany and four properties in Poland, boosting results in the two markets.
As a result, volumes rose 12% on the equivalent quarter last year in Germany while they rose by 37% in Poland in the same comparison………………………………………..Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

Praia Da Luz is a tony beach town on Portugal’s southern coast that’s a summer destination for British, Irish, French and Germans. A few years ago, a four-bedroom vacation house in Monte Lemos overlooking the Atlantic would have fetched more than a million euros. Today, you could pick a property like this up for almost 50% less.
Knight Frank currently has a listing for a home within walking distance of downtown and the main beach of Luz that has four en-suite bedrooms with balconies, an in-ground pool and a patio overlooking the water……………………………………….Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

The housing market has become “stagnant” after activity has collapsed by two-fifths in the last five years, a report published today reveals. The Royal Institution of Chartered Surveyors (RICS) said just over 15 completed sales were made per surveyor in the three months to May.
That’s a 40 per cent fall on the 25 sales made over the same period in 2007. RICS blamed the conditions on “banks’ reluctance” to offer loans………………………………………..Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

The British love affair with home ownership remains strong, but it is “far from clear” how many people will achieve their dream of getting on the housing ladder in the uncertain economy, a study has found.
Eight out of 10 people who took part in a survey for the Council of Mortgage Lenders (CML) hope to own their own home in 10 years time and three quarters aspire to do this within the next two years………………………………………..Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

More than a third of debt providers to the UK commercial property market are now insurance companies as banks battle with the eurozone crisis and new regulations.
Six out of 16 lenders prepared to issue loans of more than £100m are insurance groups, according to property agent Savills in its annual report into the financing of UK property………………………………………..Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

London has become a somewhat stabilizing force in the European property markets despite the ongoing Eurozone debt crisis. Ed Mead, sales director of London-based Douglas & Gordon tells World Property Channel, “The London property market continues to be seen as a safe haven in turbulent economic times, with record numbers of properties being sold to international buyers.
Previously international buyers have focused on prime central London, but recently we have seen purchasers from Russia, America and France buying across south-west London in Battersea Park, Southfields, Pimlico and Hammersmith………………………………………..Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

It has been dubbed the “Costa Catastrophe”. Hundreds of thousands of unsold new homes litter Spain’s coastal provinces – and now the banks are finally pulling the plug on developers and selling off their stock for whatever they can get.
All the major Spanish banks have opened English-language real estate websites to offload the new and repossessed homes on their books, promising discounts of as much as 60 per cent off asking prices. But many experts think that prices in Spain still have further to fall and that asking prices remain a long way from reality………………………………………..Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

While Spain’s economy continues to suffer under the weight of huge banking losses, the country’s property market continues to offer huge property bargains to canny investors. Estate agents believe that prices in parts of the country have fallen by up to 50 per cent from their peak, with banks desperate to offload property assets.
However, if you’re thinking of grabbing a Spanish property bargain, it’s vital that you don’t cut corners or fail to do your research. If you don’t heed our expert’s advice below, you could end up out of pocket………………………………………..Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

PropertyGuru, which describes itself as Asia’s leading property portal group, has announced that it has secured a double digit million Singapore dollar strategic investment from ImmobilienScout24, Europe’s top property portal group and a subsidiary of global company Deutsche Telekom.
This is one of the biggest online deals in Asia this year, and re-enforces the rapidly emerging online media opportunity in South East Asia………………………………………..Full Article: Source

Posted on 13 June 2012 by Laxman |  Email |Print

The world’s housing market decline accelerated during the March quarter, with house price falls in 26 countries and house price gains in only 10. Over the year house prices had fallen in 24 countries of the 36 countries for which house price statistics are available and rose in only 12 countries during the year to the first quarter of 2012, according to the Global Property Guide’s latest house price indices survey.
It noted Australian house prices fell for the fifth straight quarter to be down 6.04% from a year earlier, the longest downturn for a decade………………………………………..Full Article: Source

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