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Real Estate Briefing 04.Oct 2012

Posted on 04 October 2012 by Laxman |  Email |Print

Blackstone Group has become the biggest U.S. investor in single-family rental homes by spending more than $1 billion since the start of 2012 to acquire more than 6,500 foreclosed houses in eight metropolitan areas, according to people briefed by Blackstone. The firm also is finalizing a loan for at least $300 million from Deutsche Bank to support this business, these people said.
Numerous private-equity firms have crowded into the business, some as early as last year, looking for a way to bet on the recovery of the housing market. Blackstone’s growing commitment to this strategy offers fresh evidence that the purchases of foreclosed homes, which began as a mom-and-pop pursuit, is gaining legitimacy among the biggest private-equity firms………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

The apartment-rental market remained robust in the third quarter but, with home sales improving, the sector is showing signs of losing steam, according to a new report from Reis Inc. The rental-apartment vacancy rate declined to 4.6% during the third quarter from 4.7% in the second, said Reis, a real-estate research firm.
That is the smallest quarterly improvement in the vacancy rate since the sector started recovering in early 2010. Rents increased 0.8% in the third quarter to an average of $1,090 a month, according to Reis, which tracks trends in 79 markets. That is slower than the 1.1% increase in the second quarter but strong compared with historical averages………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

Organized real estate is unable, it seems, to admit the glory days may be behind it. Sales plummet in major markets and the industry comes up with a new explanation for the decline, draping its comments with a sense that everything is just fine. The excuses are piling up.
This month’s gem comes from the Toronto Real Estate Board: It complained September didn’t have enough working days — too many weekends. I always thought people bought homes on weekends, but it seems the transactions are registered during the week………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

The average price of a home in Canada rose between 1.8% and 4.8% on a year-over-year basis in the third quarter, depending on the type of home, according to data released Wednesday by real estate firm Royal LePage.
The price for an average standard two-story home climbed 4% in the quarter from a year ago, to about 404 thousand Canadian dollars (US$409,000), while standard condominium prices rose 1.8% to C$244,000………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

What estate agents describe as “prime country house” prices fell over the last three months, according to the latest figures from Knight Frank, continuing the downward trend of the last couple of years. But in the same way that the general UK housing market is very fragmented, so is this sector.
So on average, homes worth up to £2 million have dropped just over 4% in the last 12 months, while those worth between £2 million and £3 million have gone down over 7%………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

Most regions in the UK saw annual property price falls in third quarter of 2012 but London has performed the best with values just 2% below peak. The latest quarterly report from lender the Nationwide shows that average house prices fell by 0.5% and prices are down 1.6% compared with the same quarter in 2011.
England outperformed other regions by a significant margin with prices down 0.3% in annual terms. While Northern Ireland continues to see the largest price falls with prices now down 53% compared with peak levels in 2007………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

The property investment market in France rebounded in Q2 2012 recording investments totalling approximately €3.8bn versus €1.8bn in Q1, according to research from Paris-based manager La Francaise Asset Management.
However, the firm said the market is moving at two different speeds, and activity has mainly focused on large transactions by international investors. For the first time since 2007, foreigners accounted for more than 50% of investment flows………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

Bulgaria property prices have risen for the first time in four years, according to new figures. Knight Frank’s latest report shows that after several years of market decline, Bulgarian real estate values have started to recover. Prices fell by 2.6 per cent in June 2012 compared to the previous year, but on a quarterly scale the picture is far more positive.
Prices dipped in the first three months of2012 by 0.3 per cent, but the slip was almost reversed in the second quarter of the year, with values rising by 0.2 per cent; the first increase in the market since 2008………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

Continuing from the trends witnessed toward the end of July 2012, real estate transactions in key MENA markets trended downwards in August 2012, owing to a seasonal slowdown and lower business activity levels due to Ramadan and Eid holidays, Kuwait Financial Center (Markaz) monthly report for September 2012 revealed Tuesday.
Total value transacted in all reported markets combined moved downwards in August compared to the previous month. However, on a Y-o-Y basis, both number of transactions (-40.0 percent) and value transacted (-24.8 percent) declined Y-o-Y in Saudi Arabia, while Qatar & Kuwait witnessed Y-o-Y increases………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

Cluttons announced its third-quarter market report for Dubai’s commercial property investment market in 2012, showing an increased investment activity and a modest level of positivity in the office market that means the outlook is one of cautious optimism.
Recent investment purchases made within the first half of 2012 have involved both GCC purchasers and international entities. Recent Dubai Economic Department figures state that Dh22 billion ($5.9 billion) of foreign investment has been injected into the real estate sector in the first half of 2012 alone, with Indian, Pakistani, Iranian and Russian investors dominating the figures………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

Out of the total amount of real estate investments put in by Asian investors last year, nearly a third or US$70 billion were from the ultra-wealthy. According to a report from Singapore-based consultancy firm Wealth-X, 250 billion out of US$1.9 trillion of the ultra-wealthy Asians’ net worth were from real estate.
“There are so many ultra-high net worth individuals globally, 187,000 in total, 43,000 in Asia alone,” said Mykolas Rambus, the CEO of Wealth-X………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

Private equity investments in the Indian real estate sector have seen a drop of 15 per cent in the first three quarters of calendar year 2012, compared to a year ago.
This year has so far seen investments of close to Rs 3,500 crore across residential and commercial property segments compared to Rs 4,110 crore in the same period last year, said property advisory firm Cushman & Wakefield………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

In October, a month usually known for a boom in housing sales, the prospects of the real estate market in China are dim as consumers adopt a wait-and-see attitude. At a sales section of a residential property named Vanke Lan in Fengtai district of Beijing, a woman surnamed Chen inquired the prices and shook her head when asked about her purchase intention.
“House price are still higher than I expected,” she said. “Given the fact that the interest rates of bank loans are not that attractive, I will not buy an apartment right away.”……………………………………….Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

Remember Chinese property? How there was a boom in apartment building that amounted to some 10 per cent of GDP, and now there are gazillions of investment apartments sitting empty, and local governments got really hooked on the revenues from land sales, and it all fueled the development of weird and dodgy securitisations which offered a tempting alternative to letting one’s savings lose value in a deposit account?
Then in 2010 the government began introducing measures to dampen speculation in the bigger cities, and the whole thing began to slow down, leaving many local governments and developers somewhat worried………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

September and October are as important to China’s property developers as Christmas is for retailers in the West. Potential homebuyers are more likely to buy during these months, commonly known in China as “Golden September and Silver October”.
The sales campaign is fierce: Newspapers are full of ads for new property projects; brochures are frequently being handed out to passengers on the subway; and the story of how developers raced to launch newly built projects earlier this month have become the common fare of radio programs. Meanwhile, public data show that the sales battle has intensified………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

Amid the now regular commentary on fragile international financial conditions, and some genuine concerns about slow credit growth and the state of the domestic employment market, two things stood out in the the Reserve Bank (RBA) governor’s post-meeting statement yesterday.
The first, and most widely discussed by the financial press and commentators, is Glenn Stevens’ fresh assessment of the mining boom, or end thereof. “The peak in resource investment is likely to occur next year, and may be at a lower level than earlier expected,” he cautioned………………………………………..Full Article: Source

Posted on 04 October 2012 by Laxman |  Email |Print

Low interest rates could fuel a housing bubble in Australia, as consumers and investors look to take advantage of lower mortgage rates, according to Moody’s Investor Service.
Several commentators have suggested we are already in a housing bubble in Australia, with The Economist suggesting house prices were already 36% above their fair value, in its August update. Credit rating agency, Moody’s has warned the Reserve Bank of Australia (RBA) and banking regulators that a housing bubble could leave Australia more vulnerable to a crash………………………………………..Full Article: Source

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