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Real Estate Briefing 25.Jun 2012

Posted on 25 June 2012 by Laxman |  Email |Print

Kyle LundstedtA home is worth exactly what someone is willing to pay for it. We could end it right there, but for the fact that in the middle of the most closely-watched housing recovery in history, the sheer number of monthly and quarterly home price reports has proliferated to the point of almost weekly readings.
The trouble is that they each use different data sets and methodologies. That’s why this week we heard national home prices were up 8% from a year ago in May, and we also heard that home prices were down 0.1% from a year ago………………………………………..Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

Ben BernankeBen Bernanke is trying like mad to stimulate credit and lending but to no avail. It’s an uphill debt because of demographics, student debt, and lack of jobs. Citing falling debt-service needs, some economists think consumers may be ready to go on a borrowing. They are badly mistaken.
Considering where more of the income is coming from (government supports), who’s earning a bigger share of wages (baby boomers) and which type of debt has been on the rise (student loans), re-leveraging may be a long way off………………………………………..Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

House prices could fall by 11pc, predicts Coutts – Her Majesty the Queen’s bank – as it turns bearish about the property market. While there are only two types of ‘expert’ when it comes to predicting house prices – those who don’t know and those who don’t know they don’t know – Coutts’ analysis is more methodical than most.
The bank considers five factors to assess the prospects for house prices – economic activity, valuation, liquidity, risk and momentum – and reckons that the negatives currently outweigh the positives for UK residential property………………………………………..Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

German real estate market prices have increased sharply over the last two years as investors look for solid returns and safe havens in the midst of the euro crisis. That has some worried about the formation of a bubble that could collapse if the German economy falters.
Indeed, German real estate prices rose 3.5 percent between September 2010 and the same month the following year, according to the Organization for Economic Cooperation and Development (OECD)………………………………………..Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

Wealthy Germans are being pushed into panic-buying property at sky-high prices in Switzerland as fears grow for the safety of their euro assets, a newspaper reported on Sunday.
“Do something before the euro finally splutters its last cough and dies, taking your assets down with it.” This is the message Swiss investment companies are sending to wealthy Germans, Die Welt said on Sunday………………………………………..Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

Sweden’s banks have drawn criticism from Finance Minister Anders Borg for failing to cut mortgage rates. Their reluctance to do so is about the only thing preventing a full-blown housing bubble.
“What Borg wants is for banks to hand out cheaper loans without that increasing demand for loans,” Par Magnusson, chief analyst for Scandinavian rates at Royal Bank of Scotland Group Plc in Stockholm, said in an interview. “That’s an impossible equation.”……………………………………….Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

Rachel Ziemba, regional director at myblog’s host Roubini Global Economics, was in town to meet up with market participants last week, so I invited her and a few finance professional friends to dinner on Wednesday.
Just as we sat down, the Fed announced that it was expanding its OperationTwist, where it is extending the maturities of assets on its balance sheet. This would be a natural way to start our conversation, but it didn’t get mentioned until later. Similarly, the morning’s Turkeyratings upgrade by Moody’s came up after the food arrived at the table. Instead, we spent the first half hour discussing the Turkish housing boom……………………………………….Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

The Saudi real estate market witnessed solid growth in the first quarter with the residential prices on the rise in both capital Riyadh and the Kingdom’s leisure destination Jeddah, according to a report.
During the period, Riyadh saw an increase in both sale prices and rental levels across all sectors of residential market with the average sale price for villas increasing to SR4,200 ( $1120) per sq m and apartment prices also higher at SR2,600 per sq m, said the report by property expert Jones Lang LaSalle (JLL)………………………………………..Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

Home prices and rents in Saudi Arabia’s two largest cities increased during the first quarter amid limited residential supply and an easing in bank lending conditions, Jones Lang LaSalle (JLS) said in a report Sunday.
In Riyadh, villa and apartment prices increased to SR4,236 and SR2,628 ($1,129 and $700) a square meter, respectively, the report from the global real estate services firm specializing in commercial property management, leasing and investment management said………………………………………..Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

Retail in real estate basically focuses on development of retail assets, which begins right from land acquisition and ends with managing the property for commercial purposes, for example-a mall. In the last 10 years or so, there has been a change in the shopping culture of people.
Shopping malls have evolved and have become the new destination for shopping needs. While most development till the recent past was restricted to the top seven cities in India, mall development has moved on to tier II and III cities. This sector has immense potential, which is still untapped………………………………………..Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

Reserve Bank data shows housing loan growth slowed to 12.1% for the year ended March 2012 from 16% in the previous year. Also, before real estate prices peaked in 2008, big lenders were managing to grow their home loan portfolio at an annual average of 25%.
“Demand in metros has slowed down in April-May. This is mainly due to high interest rates, which have made buyers hesitant to buy property. There are also very few new projects being announced as builders’ communities have been affected by high interest rates too,” said VK Sharma, CEO of LIC Housing Finance, the country’s third-largest housing finance company………………………………………..Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

Nobody likes it when a government steps in to stop property prices from rising too far, or too fast, as is currently being undertaken in China.
The Chinese housing market fell by 18 percent in 2012’s first quarter, due to home purchasing restrictions which officials last month pledged to continue. The restrictions vary depending on locality but in general limit house purchases to those with permanent residency, as well as restricting multiple purchases………………………………………..Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

There is basically no speculative demand in China’s property market after a more than two-year strict control in the market, state-run Xinhua News Agency reported Sunday, citing a government researcher.
Qin Hong, head of the policy research center under the Ministry of Housing and Urban-Rural Development, said in the report that China will continue to implement the strict measures to curb speculative demand and guide the property prices back to a reasonable level, adding that currently 80%-90% of purchase is based on genuine demand………………………………………..Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

It’s not easy to answer this question but a correct diagnosis of the property market is more important than ever before, given warnings that Korea might become another Spain or Japan struggling with the bursting of property bubbles.
Since the 2008 Lehman Brothers debacle, the country’s real estate market has been in the doldrums with property prices, especially those of apartments, falling and transactions almost at a standstill………………………………………..Full Article: Source

Posted on 25 June 2012 by Laxman |  Email |Print

Home buyers are expected to become more active over the next three years as conditions in the property market improve, a report says. The Residential Property Prospects, 2012 to 2015 report from economic forecaster BIS Shrapnel says NSW and the resource-rich states of Queensland, Western Australia and the Northern Territory are already showing signs of recovery.
However, the rest of the country - Victoria, South Australia, Tasmania and the Australian Capital Territory - will lag behind because of what the report says is an emerging excess of housing………………………………………..Full Article: Source

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