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Real Estate Briefing 11.Oct 2012

Posted on 11 October 2012 by Laxman |  Email |Print

According to most accounts, all signs are pointing to a real recovery taking hold in the nation’s housing market—shadow inventory is falling; housing starts are surging, and home prices are on track to post their first annual gain since 2006. Perhaps most important of all, the labor market outlook is improving.
But while most of the coverage of the housing market lately has been positive, it might also be exaggerated, according to a new report. “While we have seen many dramatic headlines touting the housing recovery over the past 3.5 years, these headlines and the analysts who author them have been overpredicting changes in the housing market,” Laurie Goodman of financial services firm Amherst Securities, wrote………………………………………..Full Article: Source

Posted on 11 October 2012 by Laxman |  Email |Print

The housing market showed broad improvement as the economy continued to expand modestly in late August and September, the Federal Reserve said Wednesday. The Fed’s “beige book” report reinforced a host of recent data suggesting the housing market’s recovery is picking up steam. The report, which is based on anecdotes from business contacts and economists, said existing-home sales strengthened in all 12 Fed districts, while selling prices rose or held steady.
In general, the Fed noted that economic activity “generally expanded modestly” since its last report, with consumer spending inching up or staying level………………………………………..Full Article: Source

Posted on 11 October 2012 by Laxman |  Email |Print

New York and Washington continue to rank as the top real estate investment markets in the U.S., although investment in Washington has slowed, according to Cushman & Wakefield Inc.
The firm’s new report says New York attracted $34.7 billion in real estate investment in the 12-month period ending in the second quarter of 2012, up 18.9 percent from the same period a year earlier. London, Tokyo, Paris and Los Angeles hold on to the remaining top five markets globally………………………………………..Full Article: Source

Posted on 11 October 2012 by Laxman |  Email |Print

Blackstone Group LP closed on its most recent global real estate fund, Blackstone Real Estate Partners VII, raising $13.3 billion, the largest opportunistic real estate fund ever, the company said Wednesday.
The private equity firm raised the funding over the past 13 months from more than 250 investors globally. U.S. public pension plans, were the largest category of investors, Blackstone said………………………………………..Full Article: Source

Posted on 11 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 11 October 2012 by Laxman |  Email |Print

As the UK commercial property market becomes increasingly polarised and wealth continues to pile into central London locations, is value now emerging in the secondary market?
Marcus Langlands Pearse, manager of the Henderson UK Property unit trust, says that with few competing buyers and plenty of forced sales, prices are at previously unheard of levels in the secondary market, although he warns the quality of the property has to be examined very carefully………………………………………..Full Article: Source

Posted on 11 October 2012 by Laxman |  Email |Print

Gross yields on buy to let property in the last three months has risen on all property types apart from semi-commercial, according to the latest figures from Mortgages for Business who say the driving factors behind the increase were a combination of falling property prices and high tenant demand.
Yields on what is called “vanilla buy to let” - buying houses and flats - increased from 6.1 per cent to 6.7 per cent over the past three months, with the average loan to value ratio also going up from 64 per cent to 68 cent.s………………………………………..Full Article: Source

Posted on 11 October 2012 by Laxman |  Email |Print

It’s more than a week since the Residential Property Price Register entered our lives and what else have we learned? That they’re slow to update it, for one thing: properties are listed only up to September 28th.
That said, 111 new homes have come on stream since it launched; that covers the period between September 24th and 29th. The most expensive sale recorded was 9 Seamount Abbey in Malahide, Dublin, a new four-bed that sold for €765,066. A quick track back through the register shows that similar houses in this estate of new homes sold for €700,000 in April and for €685,000 in September of last year………………………………………..Full Article: Source

Posted on 11 October 2012 by Laxman |  Email |Print

Saudi Arabia needs SR 1.4 trillion in the next 10 years to catch up with housing development demands said Abullah Dahlan, member of the organizing committee of Jeddah Economic Forum (JEF) 2013. Dahlan said studies confirmed that 60 percent of Saudis don’t own their houses and the number is on the rise, if decision makers don’t find effective solutions.
Dahlan, along with Saleh Kamel, Chairman of Jeddah Chamber for Commerce and Industry (JCCI) held a press conference to reveal the JEF 2013 themes and topics. Most pertinent amongst the topics to be discussed during this year’s forum are the issues of housing and population growth………………………………………..Full Article: Source

Posted on 11 October 2012 by Laxman |  Email |Print

Land sales in China’s 10 major cities more than doubled in the third quarter compared with the previous one, with the price premium picking up, fueling expectations of a speedier rebound in the country’s real estate sector.
Statistics from real estate service provider Homelink showed that local governments in the 10 cities, including Beijing, Shanghai and Guangzhou, received 135.2 billion yuan ($20.8 billion) from selling land parcels in the third quarter, up 123.8 percent on the second quarter. Floor space sold during the same period jumped 70.1 percent………………………………………..Full Article: Source

Posted on 11 October 2012 by Laxman |  Email |Print

Hong Kong’s real estate market has been rising in the last few years, as the flow of capital and personnel grew after the 2008 global financial crisis. Property prices have been going up for almost four years with most of the categories gaining 30 percent to 50 percent on average and some locations as much as 70 percent.
Meanwhile rents have been soaring as well, not just for residential units but business spaces, too. The simultaneous rise of housing prices and rents has been so dramatic it is now a bona fide social problem………………………………………..Full Article: Source

Posted on 11 October 2012 by Laxman |  Email |Print

Australians have the world’s highest median worth and the Asia-Pacific topped Europe as the largest wealth-holding region, according to Credit Suisse Group AG. (CSGN)
Australians have a median wealth per adult of $193,653, the Credit Suisse global wealth report showed, the highest of 216 countries surveyed. With plentiful land, sparse population, natural resources and high home prices, Australia’s proportion of individuals with wealth above $100,000 is the most of any country and eight times the world average, the report said………………………………………..Full Article: Source

Posted on 11 October 2012 by Laxman |  Email |Print

Australia’s top rental growth locations have been revealed and data shows there are 21 areas where prices soared by more than 40 per cent in the last year.In an exclusive report in this month’s Australian Property Investor, the country’s 70 fastest-growing rent hotspots are profiled.
“Property investors are increasingly turning their focus to cash flow and this list is an insight into areas where rent prices are going absolutely gangbusters,” API deputy editor Shannon Molloy says. “Over the past few years, property markets have experienced a combination of reduced investor activity, flat levels of new dwelling construction and fewer first homebuyers. As a result, demand for rental properties has increased significantly and supply hasn’t come close to keeping up………………………………………..Full Article: Source

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