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Real Estate Briefing 29.Jun 2012

US housing market sending signals it is recovering
US: Housing market shows signs of life
A look at the US housing market, at a glance
REITs may be a good way to profit from a housing recovery
The housing market's latest problem: Lack of inventory
Canada’s housing market: Time for a bigger needle
Canadian property values 'running steady'
Europe on edge of property financing evolution: Henderson
UK: House prices record biggest fall in three years
UK: Outlook for house prices remains 'highly uncertain'
Goodhart says a U.K. home is a good buy if you can afford it
UK: Why you should still invest in commercial property
IVG: Germany remains a safe haven for investors
Sweden's wealthy buyers flock to Spain's property market bargains
Norway house prices grow, fears of slump
Nordic property funds resilient, says IPD
JLL: Prague hotel market shows positive signs of recovery in 2012
Property prices in Austria continue to rise
Lebanon: Residential real estate bubble set for stagnation as demand slows
Lavish and sleek: Kenya's prime property market boom
Dubai’s real estate market shows fresh signs of recovery
India’s decade: The highest housing price rise in the world
India: Realty sector sees $3.2-bln PE exits in 4 years
China: Easing moves start to thaw housing market
China: Prices hint at faith in real estate market
China’s housing curbs will remain ‘tight,’ Shui On’s Lee says
Singapore: Past underbuilding explains today's housing resilience
Thailand sees property boom despite hardships in Europe

Posted on 29 June 2012 by Laxman |  Email |Print

Announcements of a housing recovery have become a wrongheaded rite of summer, but after several years of false hopes, evidence is accumulating that the optimists may finally be right.
The housing market is starting to recover. Prices are rising. Sales are increasing. Home builders are clearing lots and raising frames. Joe Niece, a real estate agent in the Minneapolis suburb of Eden Prairie, said he recently concluded a streak of 13 consecutive bidding wars over homes that his clients wanted to buy. Each sold above the asking price………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

The single-family home market is beginning to show signs of improvement as inventory continues to drop, mortgage rates remain low and affordability stay at an all-time high.
The latest S&P/Case-Shiller indices for the month of April show that average home prices increased 1.3% for both the 10- and 20- composite – and while one month does not make a trend, the combination of rising positive monthly index levels and improving annual returns is a sign that the residential market is stabilizing………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Americans are finally gaining confidence in the housing market five years after it collapsed. Sales of new and previously occupied homes are up from the same time last year. Home prices are rising in most markets. And homebuilders are starting more projects.
The market still has a long way to regain full health. But the data suggest the worst is over and a modest recovery is under way. Here’s a look at recent housing indicators:……………………………………….Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Buying a house is the most familiar way that most investors or consumers have of buying real estate. But it’s far from the only way, and in many ways, can be more of a hassle than it’s worth. There are alternatives for investors who want a piece of real estate, without getting late-night calls to fix tenants’ clogged sinks.
Whether the real estate market is actually mending is a matter of debate. Some investors were enthused by data this week from the S&P/Case-Shiller Home Price index and see signs of bottoming………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

While it’s still unusual for non-distressed homes to fetch more than their asking prices, the transaction sheds light on the buying frenzy (at least compared to the past four years) taking hold in many of America’s most sought after neighborhoods.
Realtors in various markets across the country report robust increases in the number of transactions transpiring. In some areas, prices are beginning to tick up in response………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Canada’s reputation for financial regulation is starry. Its banks got through the crisis unscathed. According to Moody’s, a ratings agency, Royal Bank of Canada sits alongside HSBC and JPMorgan Chase in the top tier of global banks. And Canadian policymakers are old hands at pulling “macroprudential” levers of the sort now in vogue among rich-world central banks.
But questions still nag. Some say that Canada’s banks are flattered by a huge indemnity offered by Canada Mortgage and Housing Corp (CMHC), a public institution that insures mortgages with a loan-to-value ratio of more than 80%………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Property values in Canada increased by more than five per cent last month, according to new data. The MLS Home Price Index, published by the Canadian Real Estate Association (CREA), rose by 5.2 per cent year on year in May 2012.
Toronto set the pace for the rest of the country, with prices rising by 7.9 per cent in Canada’s largest city. Meanwhile, property values in Calgary posted an increase of 4.8 per cent and prices were up by 3.3 per cent in Greater Vancouver………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Europe’s real estate financing system has begun the slow evolution towards a more diverse model now that the Continent’s banks are no longer in a position to lend at traditional levels, according to John Feeney, head of commercial real estate debt at Henderson Global Investors.
Real estate loan pricing is highly unpredictable in the ongoing financial crisis and lenders are coming in and out of market from month to month, leaving the EUR 2.5 tln European property lending market in a very poor place, Feeney told a Henderson event in Amsterdam recently………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

House prices have fallen 1.5pc in the year to June – the worst annual fall in nearly three years, according to Nationwide, with experts warning the housing market recovery is “weak” and prices are not expected to increase in the next 12 months.
The worse-than-expected figures were blamed on the poor economic backdrop and the end of the stamp duty holiday for first-time buyers………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

House prices fell 0.6% in June, and the gap between prices in the North and South continued to widen, according to new figures.UK house prices fell 0.6% in June, according to Nationwide.
This means prices are down 1.5% on an annual basis – the lowest reading since August 2009………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Former Bank of England policy maker Charles Goodhart said now is an “excellent time” to buy a home in Britain if you can afford it because the nation’s housing shortage will keep pushing up prices.
“If you can get hold of the money, I think it’s already a very good buy,” Goodhart said in an interview yesterday in London. “If you can get the down payment together,” then the “affordability of housing and its likely future price increase is such that now would be an excellent time to buy.”……………………………………….Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Commercial property consists of buildings such as factories, offices, shops and warehouses, as well as land in general, which are rented out to tenants, and it is a distinct class of asset that possesses very different characteristics from shares and bonds.
If you want to buy an individual building, you’ll need to put up a large minimum investment; running it will involve some administrative and legal work and it can be fairly expensive and time-consuming to find replacement tenants………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Preservation of assets and the promise of saleability in times of crisis are currently the chief prerequisites for investments in European office real estate, according to the latest research from IVG.
It is an investment profile that almost unanimously reflects the rather pessimistic outlook of most investors in regard to future economic growth in Europe, and that divides the European investment map into two distinct camps……………………………………….Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

It seems that it’s not all doom and gloom for real estate agencies operating in Spain as the Real Estate Agency, the Spanish division of Fastighetsbyrån, Sweden’s leading real estate firm experienced a 58% increase in requests in Q1 2012 compared to Q4 2011 with June looking set to be the second best month for 2012 so far.
“We at The Real Estate Agency have experienced excellent success of late after a huge increase in requests back in Q4 2010 converted into sales helping increase our transactions by 34% and our revenues by 42% YTD compared to 2011………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Norwegian house prices will show regional differences and rise, researchers at Pöyry have predicted. Other experts remain cautious, however.
The Pöyry researchers say Stavanger will see the highest growth, an estimated 36 percent between 2012 and 2015, whilst Oslo property prices will increase by 33 percent. The rise in Kristiansand house prices will be 10 percent lower over the same period………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Unlisted property funds in the Nordic region collectively stood out in the first quarter of 2012 as the top ranking market among the regional fund groupings tracked by property index maker IPD.
Quarterly total return of 3% beat the IPD Australian, German, UK and Pan-European fund indices. Income distribution yield stood at 4.3% on an annualised basis………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

The Prague hotel market has seen strong performance growth in 2010 and 2011 and results for the first four months of 2012 are promising with hotels posting an impressive 17.8% growth in Revenue-Per-Available Room (RevPAR) compared to the same period in 2011 according to STR Global.
Growth in performance, however, is primarily driven by a strong rise in occupancy rather than an increase in Average Daily Rates (ADR). Prague´s occupancy was 62% in 2010, climbed to 67% in 2011 and in 2012 is anticipated to reach approximately 70%………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Property prices throughout Austria are increasing quite rapidly, and excluding Vienna, rose by 11% to the year ending first quarter of 2012. Property prices rose by 9.6% in the nation’s capital of Vienna during the same period, and during the first quarter of 2012 increased by 4.3%.
Property prices in Austria has risen somewhat erratically since 2000, but prices rises in Vienna have been more consistent, increasing steadily since the third quarter of 2004. In the heart of Vienna prices have more than doubled within the last 10 years, and from the first quarter of 2005 to the first quarter of 2012, property prices rose by 67% in the city, compared to a 33% increase for the rest of the country………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

At one point several years ago, it seemed as if the whole Levant was in love with real estate. Everyone from taxi drivers, delivery boys, gas station attendants and newly married couples, as well as the developers and brokers who were already players in the sector, were looking to make an extra buck.
That picture, however, has changed to some extent. “Expectations were that prices would only go up,” says Nassib Ghobril, chief economist for Byblos Bank, about the pie-in-the-sky hopes of average investors in buying flats or becoming part-time brokers………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Inside a gated community in a tranquil Kenyan suburb, a group of builders are putting the final touches to the exterior of a lavish, red-tiled villa nestled in the middle of a landscape garden.
Within the spacious property, no luxury is spared: Hardwood floors, Venetian finishes, designer furniture and five en-suite bathrooms ensure that all the modern conveniences are in place for the future tenants………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Just days after Dubai increased the land that is available for foreign investors, al-Futtaim Group Real Estate’s Festival City started offering the first Freehold property on the Dubai Creek side, a UAE daily reported on Thursday.
The four and five-bedroom villas are priced at 4.8 million UAE dirhams ($1.3 million) and above. With 24 units are currently on sale, more houses and apartments will be on offer over the next 18 months, Dubai Festival City General Manager of Property Sales Ian Plumley told The National………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Rats. Raw sewage in the streets. Garbage to go. These are but of a few of the quality-of-life issues that continue to afflict many parts of major Indian cities like Mumbai.
And yet, few Mumbaikars – or Delhi-ites – would be surprised to learn that India has seen the biggest rise in housing prices of any country in the world in the ten years from 2001 to 2011, according to a study released by Llodys TSB International this week. They need only look at their rent check, or downpayment………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

The real estate sector in India has seen $3.2 billion of private equity (PE) investor exits in the last four years, according to a white paper issued by Jones Lang LaSalle India. In rupee terms, this amounts to about Rs 14,720 crore, considering the rate of Rs 46/dollar suggested in the study.
Shobhit Agarwal, joint managing director (capital markets), Jones Lang LaSalle India, said, “The total PE exits from the real estate sector in the 24 months that started January 2012, would be of $3 billion. We expect PE exits of about $1 billion in 2012.” He, however, added the total number of exits during the period would not be known………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Property markets across China are showing signs of a definite thaw, as pent-up demand is fanned by widespread speculation about further easing in the government’s monetary policy aimed at fuelling the economy, according to an influential snapshot of the sector.
In its latest report, China Index Academy, or CIA, said that 35 major cities reported year-on-year sales increases, with Lanzhou, capital of Gansu province, hitting a massive 560.25 percent year-on-year increase between June 17 and 24………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

A number of recent commercial real estate deals with astounding bid prices suggest that developers are gaining confidence but are also giving rise to concerns that the money pouring into commercial property in search of a quick return will burst a bubble.
On June 18, the Chinese property developer Evergrande Real Estate Group Ltd set a record for land prices in Guangzhou when it bought a plot for the equivalent of 32,9687 yuan ($5,184) per square meter………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

The Chinese government’s curbs on the housing market will remain “tight” this year, preventing transactions and prices from rebounding significantly, according to Shui On Land Ltd., the developer controlled by Hong Kong billionaire Vincent Lo.
“The volume of transactions has increased and sentiment is improving, but any substantial turnaround is unlikely,” said Freddy Lee, chief executive officer of Shanghai-based Shui On, in an interview in Singapore yesterday. “I feel that prices will maintain where they are for a while.”……………………………………….Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

Singapore’s residential property market has continued to confound sceptics, myself included, with its strong monthly new home sales of more than 2,000 units - including executive condominiums - over the last five months.
While recent project launches have set new prices benchmarks, demand has remained unquestionably healthy. This is especially surprising given the cooling measures already introduced and the expected ramp-up in supply over the next few years as both the Government and private sector analysts have signalled………………………………………..Full Article: Source

Posted on 29 June 2012 by Laxman |  Email |Print

A property bubble is forming in Bangkok and other Thai cities, as well as in Vietnam and Myanmar, partly because of euphoria over the forthcoming Asean Economic Community, an economist has warned, while a senior banking executive played down such fears, saying no bubble had been detected.
Given the debt crisis in Europe and the collapse of the property sector in Spain, there are signs of a property bubble in Bangkok, especially in the market for high-rise condominiums along Sukhumvit Road, Sompop Manarungsan, president of the Panyapiwat Institute of Technology, said………………………………………..Full Article: Source

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