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Real Estate Briefing 19.Jun 2012

Posted on 19 June 2012 by Laxman |  Email |Print

David CroweAn index that measures the optimism of U.S. home builders rose slightly in June, according to a survey released Monday. The National Association of Home Builders/Wells Fargo housing index climbed to 29 in June from May’s slightly revised figure of 28. The index for May was originally reported at 29.
Although the latest reading is the highest since May 2007 — prior to the last recession — it’s still well below a level considered healthy. A reading of 50 or better signals that more home builders view conditions as good instead of poor………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

Barry RutenbergU.S. home builders’ sentiment increased in June to the highest level in more than five years, the latest in a series of encouraging signs for the housing market. The National Association of Home Builders said Monday its housing market index was 29 this month, up a point from a month earlier and the highest level since May 2007. May’s reading was revised downward by a point to 28.
The uptick “is reflective of the continued, gradual improvement we are seeing in many individual housing markets as more buyers decide to take advantage of today’s low prices and interest rates,” said Barry Rutenberg, the trade group’s chairman and a home builder from Gainesville, Fla………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

A recent survey seems to suggest the same, albeit less colorfully: Realtor.com found that buyers are now three times as likely to buy a foreclosure as they were just 2½ years ago. In the May survey, 64.9 percent of respondents said that they were likely to buy a foreclosure, leaps and bounds ahead of the 25.3 percent who said the same in the online listing service’s October 2009 survey.
That sheds light on what industry insiders say is a broad shift in the public’s perception of foreclosures, as more buyers and investors have familiarized themselves with a market dominated by foreclosures………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

The recent rise in home building could be thwarted by an unlikely factor, a shortage of land in desirable locations.
During the housing boom, developers—the companies that pave roads and sidewalks, dig ditches for sewage pipes and power lines and bring in bulldozers to clear space for construction—prepared hundreds of thousands of lots and sold them to home builders, which in turn built subdivisions………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

Warren Buffett, whose prediction last year of a housing recovery was premature, is raising his bet on a rebound with his $3.85 billion bid for a mortgage business and loan portfolio from bankrupt Residential Capital LLC.
The offer “certainly indicates that he thinks the worst is behind us,” Jeff Matthews, author of “Secrets in Plain Sight: Business & Investing Secrets of Warren Buffett,” said……………………………………….Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

Land Securities and British Land - the two biggest property companies on the London stock exchange - should merge. This is not a new idea. But with returns from even the shiniest offices and jazziest shopping centres now shrinking as property values slide, it is overdue another airing.
I am sometimes asked which company I prefer. One can draw distinctions: British Land has a higher yield, more shops and an ex-banker in the top job; Land Securities is less geared, more development-focused and run by a chartered surveyor………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

U.K. commercial real estate values fell for the seventh straight month in May as Britain’s economy weakened, Investment Property Databank Ltd. said.
The average value of stores, offices and warehouses declined 0.5 percent from April, led by retail properties, IPD said in a statement today. Total return, which combines the change in real-estate values and rental income, was zero for May, compared with 0.2 percent in April………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

House asking prices have risen to a new record high, but they remain well below their 2007 peak once inflation is taken into account, a study says.
The price of a home coming to market rose by 1% month-on-month in June to reach £246,235 on average, but London is the only region where prices have outpaced inflation over the last five years, the Rightmove house price index found………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

Fear in Germany is pushing house prices higher. German private consumer spending rose by 1.5 per cent in 2011, but while some of that is simply on wine and food and other everyday expenditure, a significant proportion is on housing. Why? Because people are scared of inflation and worried about the eurozone financial climate.
With buyers looking for real estate in a safe haven with strong rental yields, Germany’s market has seen prices rise significantly in recent years: values jumped by 2.5 per cent in 2010 and 5.5 per cent in 2011. In Berlin and Munich, according to Money Week, apartment prices rose by as much as 10 per cent………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

IPD has announced that the local currency return for Asian commercial property investment was 8.4% in 2011, according to the IPD Pan Asia Return Research (PARR).
This performance is modestly better than in 2010 when the total return was 6.6%. The Pan Asia 2011 return combines an income return of 5.6% with a capital growth of 2.7%. The income return is unchanged on 2010, but the capital return is up from 1.0%………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

A sluggish market brings good tidings for potential home buyers. One, they have ample time to decide which house they want to buy and secondly, they have a vast variety of unsold properties to choose from.
Also, since there is little scope for property prices to appreciate and developers need money to continue their projects, they often come up with special offer prices for limited periods. This doesn’t mean that they will not be willing to negotiate further. In fact, if a developer believes you are a serious buyer and not just a ‘window-shopper’ he might be inclined to offer you something extra………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

China’s home values fell in a record 54 of 70 cities tracked by the government in May as developers cut prices to boost sales amid housing curbs.
The eastern city of Wenzhou led declines with a 14 percent slump in values from a year earlier, while Beijing and Shanghai recorded losses of as much as 1.6 percent, according to data released by the statistics bureau today………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

China’s home prices dipped for the eighth straight month in May but the pace of decline eased, fanning talk that the market may be bottoming out and that recent monetary stimulus could set the stage for a rebound.
Home prices in the world’s second-largest economy have fallen month-on-month since October, after China tightened policy more than two years ago to take the steam out of sizzling home prices………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

Investors and buyers are beginning to return to the capital city’s real estate market after a long period of sitting on the sidelines, say local real estate dealers, attributing the interest in the market to recent State Bank of Viet Nam policies aimed at lowering financing costs.
Nguyen Tien Dung, director of Van Phuc Real Estate Trading Floor in the capital’s Ha Dong District, said that trading in some segments, including residential parcels, had surged in past week. The number of properties offered to find buyers had risen to 20 per cent, up from a the recent period in which no properties were finding buyers, Dung said………………………………………..Full Article: Source

Posted on 19 June 2012 by Laxman |  Email |Print

Indonesia remains the star performer in Southeast Asia on property performance due to stable price growth in almost all segments of the housing market, according a survey conducted by property consultancy Knight Frank
The survey indicated that Indonesia’s housing price index rose 3.4 percent year-on-year (yoy) and 0.8 percent quarter-on-quarter (q-o-q), and was ranked sixth, coming in behind Malaysia, Hong Kong, South Korea and New Zealand………………………………………..Full Article: Source

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