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Real Estate Briefing 09.Oct 2012

Posted on 09 October 2012 by Laxman |  Email |Print

The housing market will improve moderately in 2013, but nobody will mistake this for a boom. The gains in activity and prices will be a welcome relief, but will leave many homeowners still underwater.
The usual way of discussing housing problems is misleading. Foreclosures, short sales, shadow inventory, upside-down mortgages are all symptoms. The fundamental problem that we have is an excess supply of housing units………………………………………..Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

Across most of the country, home prices remain affordable and rents continue to rise. And while today’s investors are helping the housing recovery, they’re not completely responsible. Data from the National Association of Realtors (NAR) suggests that traditional repeat buyers are driving today’s market.
According to a recent joint survey by BiggerPockets.com and Memphis Invest, 39 percent of investors plan to buy more properties over the next 12 months than they did over the last year. Twenty-six percent of investors plan to purchase the same number of properties………………………………………..Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

The property market remains closed to foreigners and even Cubans are only permitted to own one home, to prevent speculation. But the freedom to sell has brought all sorts of people out onto the streets.
“These changes had to happen,” says architect Juan-Carlos, who’s browsing the tree-ads. He’s planning to pool resources with a friend, buy a bigger flat and start renting rooms to tourists to supplement his small state salary………………………………………..Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

Argentina’s economy and real estate market managed to survive and even thrive during the worst of the global financial crisis, but unconventional economic controls and subsequent economic slowdown is eviscerating the market.
The Buenos Aires Notary College reports that real estate transactions dropped 46% in the capital city in July 2012. When the currency peg was abandoned the value of the peso sank and now soaring inflation has frozen the property market and the wider economy at large. Rental yields are still performing, but construction has slowed to a halt and investors are scared of entering the market………………………………………..Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

The European direct real estate investment market is holding up in line with expectations, according to the latest transaction data collected from Jones Lang LaSalle Capital Markets in 32 countries across Europe, Middle East and Africa.
Richard Bloxam, Head of European Capital Markets at Jones Lang LaSalle said: ‘In Europe, as in other regions, the largest, most liquid markets continue to perform well. This is a reflection of the dominance of equity buyers who are currently looking for safe havens, and has to some extent offset a lack of transaction activity elsewhere in Europe.”‘……………………………………….Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

A U.K. house-price index rose to its highest in six months in September as measures to boost credit prompted real-estate agents to become less pessimistic about the outlook, the Royal Institution of Chartered Surveyors said.
The gauge rose to minus 15 from minus 18 in August, London- based RICS said in an e-mailed report today, citing a monthly poll of property surveyors. A result below zero means more saw values drop than increase last month. A measure of price expectations also climbed to its highest since March………………………………………..Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

The Royal Institute of Chartered Surveyors says house price falls are slowing, and new mortgage initiatives will help first-time buyers on to the ladder. Hard-hit homeowners may finally see some respite from falling house prices, as the Royal Institute of Chartered Surveyors (Rics) predicts a strengthening of the property market at the end of the year.
The latest housing market survey is predicting a pick-up in property transactions and a slowdown in price falls, both of which will lead to a stronger housing market at the end of 2012………………………………………..Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

Global property and consultancy agency reported that Middle East investors made up more than 15 percent of London’s super-prime real estate market from years 2010 to 2012, Global Arab Network reports according to Knight Frank.
However, the study showed that UK, comprising 33 percent and Russia, comprising 18.7 percent were more active participants in the £10m-plus property sector than the Arabs………………………………………..Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

Home foreclosures in Spain, which disproportionately affected lower-income immigrants after the real estate bubble burst, are spreading to formerly well-to-do families and businessmen as they run out of ways to pay mortgages in a deepening recession.
Spanish business people, upper middle class families and their loan guarantors, typically parents of first-time buyers, now account for 60 percent of foreclosures in Madrid, according to AFES, an association that advises homeowners facing repossession………………………………………..Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

Based on the latest European office market figures from Cushman& Wakefield, the world’s largest privately held real estate services firm, the mood is continually affected by the uncertainty surrounding European economies especially Hungary.
The Budapest Office Market is coming off a record year in 2011 when take-up reached nearly 400,000 m² ranking Budapest 10th in Europe ahead of cities like Prague, Milan and Amsterdam. In 2012 Q2 the Budapest Office Market transacted nearly 100,000 m², which is more than in Q2 2010 and 2011 respectively………………………………………..Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

A 0.6 per cent increase is expected in commitments from institutional investors in Italy to real estate as figures rise from 6.9 per cent to 7.5 per cent. The latest research conducted by the EU Association for INREV (Investors in Non-Listed Real Estate Vehicles) suggests that half of the new investments will be allotted indirectly with around 10.7 billion Euros of these investments being forwarded to real estate funds that are not listed.
The research says that total property investments in Italy amount to almost 38.5 billion Euros or 6.9 per cent of the total real estate that can be invested in the Italian real estate universe. Investors find real estate investment as an easy way of attaining crucial diversification benefits as low volatility is offered compared to the other classes of assets, especially in times of financial crisis……………………………………….Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

The office and industrial property market in Bahrain has shown signs of picking up in the third quarter of this year, according to real estate specialists Cluttons. “There has been a significant increase in the office sector in the past three months,” said Cluttons Bahrain head Harry Goodson-Wickes.
‘Businesses that have been postponing decisions about a move to new premises now seem to be encouraged to make the move and face the expense of new fit-outs and the drift remains a move from the congested Diplomatic Area to Seef.”……………………………………….Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

Home prices in major Chinese cities rose modestly in September from August, according to a private poll, indicating that Beijing has made some progress in keeping housing costs under control despite recent signs of market strength.
The increase, marking the fourth consecutive month-to-month rise in a survey of conditions in 100 major Chinese cities, illustrates the challenges China faces as it continues to try to tame the market. Beijing remains concerned about resurgent housing inflation that could threaten both economic and social stability………………………………………..Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

House prices in 100 major cities across China climbed further in September, the fourth consecutive rise this year, statistics from China Index Academy showed on Monday. The average price of new homes in the 100 cities increased 0.17 percent month-on-month to 8,753 yuan ($1,346) per square meter, according to the Beijing-based research institute.
However, the rate of growth is shrinking, compared with the 0.24 percent rise in August, said the academy. Among the 100 cities, 60 saw prices increase on a monthly basis, 38 experienced a decline in prices, and the remaining two remained flat………………………………………..Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

The spring selling season is traditionally when we see the greatest number of properties come on to the market. And for those owners who want to sell quickly and for the best possible price, the adage that “you have to spend money to make money” definitely applies.
Marketing is an additional expenditure in which owners are sometimes reluctant to invest. In fact, most sellers want to commit as little as possible to the marketing cost of their property. It’s completely understandable - why would we spend anything if we don’t have to?……………………………………….Full Article: Source

Posted on 09 October 2012 by Laxman |  Email |Print

New Zealand property values extended their gains last month, and have recovered the losses seen after the global financial crisis and the bursting of the country’s housing bubble, according to government valuer Quotable Value.
However, values are still 12 per cent below the peak after accounting for inflation. National property values rose 1.8 per cent in the three months ended September 30 and are up 5.3 per cent on an annual basis, edging above the 2007 peak in late 2007………………………………………..Full Article: Source

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