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Real Estate Briefing 10.Oct 2012

Posted on 10 October 2012 by Laxman |  Email |Print

Investors are putting more money into real estate debt funds after banks reduced the size of their loan books to meet tougher regulatory requirements, DTZ Group Plc said.
The amount of money earmarked for real-estate debt funds rose 54 percent to $29 billion in the first half, according to a report published today by the London-based real estate adviser. The company estimates that funds are seeking to raise an additional $17 billion to be deployed globally or in Europe by acquiring bank loan portfolios or through lending………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Strong performance in major global property investment markets continues despite 8% total volume decline compared to same period in 2011 according to preliminary numbers from Jones Lang LaSalle.
Global investor purchasing activity remained steady in Q3 2012, with US $96 billion (approx. €74 billion) transacted over the quarter, according to Jones Lang LaSalle capital markets research from 60 countries………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

There is some good news on the housing front with two reports indicating the long-stagnant U.S. real estate market is climbing to its feet and growing more stable. The first indicator comes from CoreLogic, which says the nation’s current “shadow inventory” of homes is in decline, a healthy sign more houses are moving off the “for sale” market.
According to CoreLogic, shadow inventory fell 10% from July 2011 to July 2012, from 2.6 million to 2.3 million units. That’s about the same level in March 2009, when the U.S. housing market was sinking fast………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

The news is finally good: Consumer sentiment in housing is at the highest level since the recovery began. Realtors say not only are buyers coming back, but much-needed sellers are too. Inventories of distressed properties are shrinking, and mortgage rates are hitting record lows nearly every week.
The housing crisis is over, right? “While we have seen many dramatic headlines touting the housing recovery over the last 3.5 years, these headlines and the analysts who author them have been over- predicting changes in the housing market (versus what actually occurred).” said Laurie Goodman of Amherst Securities in a new report………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

There have been a number of positive developments in the housing market over the last several months, and that trend continued into September, as many areas continued to improve.
The housing market has strengthened considerably since the end of last year, and as a result, there is now an additional $860 billion in home equity nationwide, according to the latest Housing Scorecard released monthly by the Obama administration. As a consequence, sales of existing homes in the month of August reached the highest level seen in more than two years………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Americans’ optimism about the housing market’s recovery and homeownership continued to climb in September, bolstered by mortgage-rate declines throughout the summer, according to a monthly survey by Fannie Mae.
Consumer confidence about the economy also rose substantially last month, reversing a recent trend of waning confidence during much of the year………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

The nation’s shadow inventory fell to 2.3 million units in July, down 10.2 percent from last July, according to a monthly report, using a new methodology (see below), from real estate data firm CoreLogic.
Homes with seriously delinquent loans attached to them made up 1 million of July’s shadow inventory. The balance included 900,000 homes in some stage of foreclosure and 345,000 bank-owned properties. The 2.3 million total units represent a six-month supply, the report noted………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

House flipping’s status as an aspirational American pastime took hits during the recession but, like disco or SUVs, it has never gone extinct. It is returning — with a vengeance. Cable TV shows glorify expert flippers and infomercials flog seminars for novice investors eager to dive into this risky market.
As many housing markets stage a recovery, there is a deep inventory of foreclosed or bank-owned properties that investors can tap at below-market prices………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Canada’s housing market continued to show signs of cooling last month, but still no evidence of a correction that would seriously impact the economy.
The Canada Mortgage and Housing Corp. reported Tuesday housing starts for September totalled 19,750. That’s 220,200 units annualized, a slight decrease from the upwardly revised 225,300 units the previous month. The agency said the seasonally adjusted annual rate of urban starts decreased by 3.0 per cent in September to 203,731 units………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

European banks are expected to increase the volume of commercial real-estate assets they bring to market as they prepare for new European Union capital requirements.
Banks are under pressure to reduce their property portfolios further under increased regulation. The so-called Basel III rules, which take effect next year, require banks to hold more capital against loans secured on commercial property………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Housing market activity was “relatively flat” last month as demand from would-be buyers remained stable in most parts of the UK, a newly published report has said. Housing market in UK has been “relatively flat” in the last month as market stabilises.
But decline in number of houses coming into market in Autumn. Chartered surveyors said property prices in September fell at a pace consistent with previous months, with the number of homes coming on to the market also experiencing a decline………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Houses and apartments being sold at auction are selling for an average of 60% less than their value at the peak of the property market. Research by Central Bank economists on residential property auctions finds just over 400 houses and apartments have been sold at auctions over the past year.
The properties sold for a combined €52.6m. The average selling price of €173,000 was 60% lower than asking prices at the peak of the housing market………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Crunch time time lies ahead for Germany’s CMBS market, with a wave of maturities due next year, according to Tuuli Krane, an associate director of Fitch Ratings in Germany.
Speaking at Expo Real during a panel session entitled ‘Talking real estate: finance’, she said that Europe’s second-biggest CMBS market is facing some serious challenges. According to Krane, just 42.7% of Germany’s EUR 30 bn CMBS market is performing, with many loans due to mature in 2013………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

The property market in Berlin is showing no signs of slowing down, even with economic pressures being exerted from the eurozone, according to real estate services advisor CBRE.
According to the company, investors are being attracted by the steady rental returns of 5% a year and the relatively low cost of buying a property in Berlin. Despite apartment prices having risen by 17% in the last year, the cost of an apartment in the city remains one-third less than European capitals such as Paris - and one-quarter of London’s soaring values………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

The Netherlands has the 5th largest economy in the eurozone. Home prices are in the midst of a huge plunge notes reader Andrea who is from Italy but now lives in France. Andrea supplied links to articles in the Wall Street Journal and Bloomberg. She writes …
I just found out that Netherlands are currently experiencing a housing bust after a huge bubble: strange how this has got so little media and blog coverage. Netherlands is the fifth economy in Eurozone. As usual, the bubble was blown by inane fiscal policies along with cheap money………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

The commercial real estate market in the Czech Republic fell by 76 percent year-on-year to EUR452m in the first three quarters of this year, consulting company Cushman & Wakefield (C&W) said.
In the entire Central Europe, investments in commercial real estate decreased by 59 percent. The number of transactions has decreased and the period necessary for their completion has become longer, but the interest of investors remains strong, particularly in Poland and the Czech Republic………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Only retail and industrial are showing a glimmer of hope in South Africa’s struggling property market. The office sector is hurting the most. That is the most recent analysis published in the South African Biannual Property Indicator, a research tool of the South African Property Owners Association and the Investment Property Databank (SAPOA/IPD).
Stan Garrun, managing director of IPD SA, reports retail property in the first half of this year returned the top capital growth rates at 1.7%, along with solid 3.7% rental growth and strengthening occupancy rates. Vacancies in the sector improved from 6.0% to 5.7% over the first half of the year………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

What’s not to be envied about the life of the Indian businessman Robert Vadra, a self-made man if ever there was one? Now 43, Vadra emerged from relative insignificance to a position of tremendous wealth, power and influence, especially in the Indian capital, New Delhi, where his name can move mountains.
Of course, it helps that Vadra is married to Priyanka Gandhi, the daughter of former Prime Minister Rajiv Gandhi and granddaughter of former Prime Minister Indira Gandhi. And his mother-in-law is Sonia Gandhi, the president of the Congress Party, the most powerful woman in the land………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

The hike in lease rates, announced in the new leasehold policy, will affect the monthly rents that tenants who occupy old buildings pay. The policy will also further drag down the real estate market, builders said.
“We will have to pass on the burden to tenants,” said BR Bhattad, executive president, Property Owners Association. “Any increase will have to be borne by tenants as we are just recovery agents.”……………………………………….Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Singapore’s central bank has tightened rules on residential property lending amid fears that the city-state’s real estate market could be heading into a dangerous bubble. The Monetary Authority of Singapore (MAS) said in a statement it was imposing a maximum tenure of 35 years for new housing loans with effect from Saturday.
“MAS’ move is part of the government’s broader aim of avoiding a price bubble and fostering long-term stability in the property market,” the central bank said……………………………………….Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Industrial property prices rose in the third quarter as investors looked to avoid earlier cooling measures in the residential market but the pace of increase has slowed, according to a report from consultancy DTZ.
Resale prices for upper-storey industrial space increased 3.5 per cent in the third quarter compared with the previous three months. That’s a slowdown: Prices had risen 4.9 per cent in the second quarter over the first. Values have surged 8.5 per cent in the first nine months of the year, however………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Despite liquidity remaining abundant, commercial real estate in Taipei may see selling prices peak next year on the impact of the continuous global economic slowdown and the cooling of the leasing market, a Jones Lang LaSalle’s director said yesterday.
The remark came after Jones Lang LaSalle — a financial and professional services firm specializing in real estate — released its latest survey for the Taipei Grade A office market. The vacancy rates and rents for Grade A offices in Taipei generally remained flat in the third quarter from the second quarter, the report said………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Seasonally adjusted building approvals for residential property in Australia increased during August, but the new home sector is yet to show signs of a sustained recovery.
This is according to the Housing Industry Association (HIA), which noted that while the headline seasonally adjusted figure for the month rose 6.4 per cent, this was offset by a 22.5 per cent increase in approvals for Australian real estate in the other dwellings category………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Chinese investors are making their presence felt in all aspects of New Zealand real estate - in development, investment, trades, services, infrastructure, funding and the residential market.
PwC partner and China sector spokesman Colum Rice said that as the global economic centre of gravity moved East, China was changing the world, creating new opportunities for New Zealand businesses to tap into the world’s fastest growing market………………………………………..Full Article: Source

Posted on 10 October 2012 by Laxman |  Email |Print

Global house prices are still falling in many countries four years after the downturn and the peak of the property bubble, according to a survey by the International Monetary Fund (IMF).
The outlook still looks gloomy for many of the world’s strongest economies with Europe particularly suffering from the rapid decrease in global house prices, says the IMF, but some markets have started to pick up again – with the USA and Brazil seeing some of the biggest price hikes………………………………………..Full Article: Source

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