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Real Estate Briefing 20.Jun 2012

Posted on 20 June 2012 by Laxman |  Email |Print

Russell PriceBuilders broke ground on more single-family houses for a third consecutive month in May and rising construction permits pointed to further gains, showing the residential real-estate market is weathering the U.S. economic slowdown.
Work began on 516,000 one-family houses at an annual rate last month, up 3.2 percent from April and the most this year, the Commerce Department reported today in Washington. A slump in construction of apartments, which is often volatile, led to an unexpected drop in total housing starts………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

As more U.S. housing markets improve, an adage about what matters in real estate is proving true: location, location, location.
While property markets across the country rose together during the housing boom and fell together during the crash, new data analyzed by real-estate firm Zillow Inc. for The Wall Street Journal show that markets are exiting the downturn at different speeds………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

The housing boom and bust gave rise to the myth of a “national” housing market. After all, prices rose in almost every part of the country until 2006, when they began dropping from coast to coast.
But today’s story in the Journal looks at how the beginnings of housing recoveries are neighborhood and even street specific. While the media are often pressed to generalize about the national market, or to highlight cities that, on the whole, are rising or falling, most real-estate agents will remind buyers that broad housing indexes may not hold much water when it comes to pricing their homes………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

As the nation’s housing market shows signs of bottoming after years of declining prices, many first-time buyers such as Dorado are getting a rude awakening. Instead of having their pick of homes to buy in some markets, they’re losing houses to cash buyers and bidders with bigger down payments, or they’re facing bidding wars spurred by shrinking numbers of homes for sale.
The competition can be most evident for lower-price homes in markets hard-hit by foreclosure, such as Phoenix, Miami and parts of Southern California, or those with relatively strong economies, such as Washington, D.C., and San Francisco, Realtors say………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Investment genius Warren Buffett — the world’s third-richest man, with a personal fortune of $44 billion — is renowned for making big, bold bets on the future direction of the US economy.
For example, the giant conglomerate Buffett runs, Berkshire Hathaway, bought Burlington Northern Santa Fe — one of American’s biggest railroad firms –for $44 billion in February 2010. In September 2011, Buffett followed this by spending $9 billion buying lubricant maker Lubrizol………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Office and industrial leasing markets turned in uninspiring results for the second consecutive quarter, which suggests that a more benign economic environment is starting to have a dampening effect on Canadian commercial real estate markets, says a report released Tuesday by CBRE Limited.
However, Calgary’s downtown office market continues to be a “star performer” on the national scene, it said………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Canada’s housing boom will grind to a halt next year, stopped by price declines in the condominium-saturated markets of Toronto and Vancouver, according to a Reuters poll, raising the risk of a broader economic slowdown.
On a national basis, Canadian house prices are expected to rise 2.0% this year before stalling next year with a negligible 0.5% gain, according to median results of the poll, which was conducted last week………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

There’s trouble in River City these days - River City being Argentina. President Cristina Kirchner is cracking down on real estate buyers and sellers and construction industry players who are closing deals with U.S. dollars. They are withdrawing the dollars from their bank savings accounts. That’s the problem.
Kirchner wants the deals to close with Argentine pesos. She says she needs the dollars to pay off various countries’ international debts. About 4.50 pesos equals $1 U.S. currently. In the country’s black markets, hustlers are asking about 6 pesos for a U.S. dollar………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Total returns on non-listed funds increased slightly to 0.5% in the first three months of 2012 from 0.4% in the previous quarter, according to the latest figures from the European Association for Investors in Non-listed Real Estate Vehicles INREV.
Capital growth remained negative but increased to -0.2% in Q1 2012 from -0.8% in the final quarter of 2011, driven by increased returns in Continental Europe (up at -0.2% from -1.3% over the same period)………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Signs of a two-speed UK property market emerged again on Tuesday after London house prices outpaced the rest of the country, according to official figures.
Prices in the capital were up 4.9pc in the year to April, compared to just 1.4pc across the UK over the same period, the statistics showed. The average house price in London was £388,000, trumping the UK average of £229,000, the Office for National Statistics (ONS) said………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Signs of a two-speed UK housing market have been revealed in official statistics on property prices, showing London homes rising fastest in value. Prices in the capital rose by 4.9% in the year to the end of April, compared with a national average of 1.4%.
There was a fall of 1.3% in prices in the North West of England, and Yorkshire and the Humber, the Office for National Statistics (ONS) said………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Britain’s beleaguered homeowners will have to wait until 2014 at least before they see a rise in the value of their properties, as weak demand and tight lending conditions keep the market in check, a Reuters poll found on Tuesday.
Home prices, which have dropped about a fifth since their peak five years ago, will fall another 1.6 percent this year and only hold steady in 2013, according to the poll of more than 20 market watchers taken in the past few days………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

In a quiet corner of Frankfurt, gleaming blocks of apartments framed by green lawns stand next to an identically sized building in much shabbier shape. All of them once housed the military; now three boast white walls and balconies, while one is vandalized and covered with graffiti.
The renovated blocks testify that the area is changing. Eventually, the boarded-up building will be transformed into a new fire-department training facility, converting the neighborhood from an abandoned military compound to homes and offices………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Portuguese property investment funds delivered an annual total return of 0.8% in March 2012, a slight decrease compared to the annual return of 1.2% recorded at the end of 2011, according to the APFIPP/ IPD Portugal Property Fund Index.
Overall, the index continued to benefit from the positive behaviour of the open-ended funds, which delivered an annual total return of 1.8%, while the closed-end funds remained in negative territory with an annual return of -1.6%, IPD said………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Research giant Oxford Business Group (OBG) is claiming that Dubai’s property crash is over, with the residential sector having “posted solid growth over the past few months.”
In an article to be published in Arabian Business magazine, OBG regional editor Oliver Cornock added that “other areas of the sector are also showing signs that recent declines are beginning to reverse.”……………………………………….Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

A latest report by SBI Caps Securities hints at Mumbai real estate market likely to grow faster than Bangalore over the next one year. According to the report, Bangalore has seen a series of residential project launches by all major developers in 2011 and 2012.
These launches enjoyed strong absorption as fiscal years 2009 and 2010 were dull years in terms of new launches. Against this, the Mumbai market, which saw high demand and supply till F11, witnessed a dull period after that………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Growth in Sri Lanka’s real estate sector may slow in the coming months, as rising interest rates and higher construction costs begins to bite, a new report has forecasted.
Sri Lanka is in the midst of a post-war property boom, with key real estate drivers centered around the leisure and ports and aviation development in the southern district of Hambantota………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Central bank’s rate cut leads to shift in view of potential buyers. The latest figures from the National Bureau of Statistics show that residential house prices declined at a significantly slower rate in May, triggering concerns over a short-term rebound in prices.
In May, of the 70 large and medium-sized cities monitored by the bureau, 43 cities’ sale prices declined, there was no change in 21, and six saw an increase………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

The Chinese government is trying to deflate what might be the largest real estate bubble in history. Despite concerns that the falling prices in the property market could trigger a broader slump in the economy, the central government is insisting on maintaining new restrictions on real estate purchases.
But the new measures are having unexpected consequences, both on a smaller local level in China, and on a broader international level outside the country………………………………………..Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Whether or not you believe China’s property market is in for a hard landing may depend on what data you are analyzing.
It’’s an axiom but worth re-stating: China is so utterly vast that it is nigh-impossible to make any generalisations about the behemoth. ……………………………………….Full Article: Source

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Posted on 20 June 2012 by Laxman |  Email |Print

Property research and consulting company Knight Frank Indonesia expects the country’s property market to remain stable through the end of the year on the back of increasing purchasing power, despite a new central bank regulation that will raise the minimum down payment.
Nicholas Holt, the director of research at Knight Frank’s Asia-Pacific division, said on Sunday that prices in Indonesia’s housing market were projected to grow more than in any other Southeast Asian country, with consistently rising prices in all housing segments………………………………………..Full Article: Source

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