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Real Estate Briefing 06.Nov 2012

Posted on 06 November 2012 by Laxman |  Email |Print

The pace of homebuilding in Canada will continue to moderate in the last quarter of 2012 and into 2013, while existing home sales should hold steady and prices climb at or just below the inflation rate, Canada Mortgage and Housing Corp says.
The federal housing agency’s forecast on Monday for a weaker, but still healthy, housing sector echoed a string of data that has shown Canada’s recently red-hot real estate market cooling, but without signs of a crash landing………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Long convinced the country’s housing boom would never end in a crash, Canadians have watched this autumn as a sharp slowdown in real estate spreads across the country, leaving would-be home buyers hopeful and sellers scared.
“The power is in the hands of the buyer – that’s what I’m feeling,” said Andria Petrillo, 32, as she and her husband toured a quiet open house in the heart of Toronto, where crowds and chaos once reigned over weekend home showings………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Since the year 2000, approximately, Canada’s real estate market has been one of the best performing asset classes on the planet. The average price across the country has risen from approximately $150,000 in 2000 to over $350,000 today, a compounded return in excess of 7%.
To put that in perspective, the compounded return on housing between 1980 and 2000 was a mere 4.7%, and that includes years of considerably higher inflation………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

The U.S. housing market is on the mend, but the so-called “missing piston” of the world’s biggest economy doesn’t have enough power to get the broader recovery firing on all cylinders any time soon.
Construction and related activity will help rather than hinder U.S. economic growth this year for the first time since 2005. That was before the housing bust helped push the United States into recession, triggering the global financial crisis………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Realtors ought to like this: Americans are feeling better about the housing market. That’s according to a national survey by FindLaw.com, a legal-information website that’s part of Thomson Reuters.
Fewer Americans say they’re sitting on the sidelines rather than considering buying a house, according to a news release from Thomson Reuters on the survey. Two years ago, 63 percent of Americans said they were less likely to buy a house because of the economy. Today, 30 percent feel that way………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

When will sellers return? That’s a burning question in residential real estate circles these days as inventory has fallen and the market has grown increasingly competitive.
Having more people put their homes up for sale could help relieve some pressure, but most current homeowners appear to believe that time is on their side, recent surveys show………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Rapid house price appreciation during the housing boom significantly influenced homebuyer selection of adjustable-rate mortgages over fixed-rate mortgages. In markets with high house price appreciation, house price gains directly influenced mortgage choice.
But in markets with less appreciation, price gains did not influence borrower choices between adjustable or fixed-rate mortgages. In addition, the influence of fundamental drivers of mortgage choice, such as mortgage interest rate margins, tended to be muted in markets with high price appreciation………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Investors have expressed increased interest in European real estate debt funds, according to INREV’s recent Debt Fund Survey, with a majority citing the risk/return characteristics of real estate debt funds as one of the main attractions.
The survey suggests that a lack of certainty around the lending capability of banks and a growing funding gap have created opportunities for other players to enter the commercial real estate lending market, fuelling investor interest in debt funds as a viable, addition to their existing real estate investment portfolios………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

A majority of the major office markets worldwide are expected to register single-digit rental growth, according to Jones Lang LaSalle’s third quarter 2012 Global Office Index, released on Monday.
The index, which measures the rental performance of prime office space across 90 major markets in the Americas, Asia Pacific and Europe, reveals a stable outlook for global prime office rental growth in 2013. The markets with the strongest rental growth prospects include: Beijing, San Francisco, London, Tokyo, Moscow, Hong Kong and Sydney………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Lack of government support for all housing types holds back private sector development, Lords select committee hears. Government housing policies are too focused on helping first-time buyers at the expense of the wider housing market, a House of Lords select committee has heard.
Gary Day, executive director for land and planning at McCarthy & Stone, a developer specialising in retirement properties, warned the high profile committee that government incentives do not help to tackle the country’s wider housing issues or encourage the development of other types of urgently needed housing………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Despite the fragile state of the economy and the sluggish nature of the UK housing market, the residential property market in London continues to look highly attractive from an investment perspective.
Property prices and rental values have soared in recent years and despite tentative signs that the market may slow in the short term, prices look set to soar in the longer term. The capital’s population growth is the fastest in the country and there are simply nowhere near enough new homes being developed to cater for rising demand from homebuyers and renters………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

The Swiss housing market shows growing signs of overheating, a survey suggests, increasing the chances that the central bank will make good on a threat to impose a capital buffer for banks.
The UBS real estate bubble index has entered its risk zone for the first time since Switzerland suffered a housing market collapse two decades ago. It rose by 0.2 points to 1.02 points in the third quarter, UBS said on Monday………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Swiss property prices are rising too fast in many regions at a time when consumer prices are dropping and personal income remains stagnant, fuelling concern of a real-estate bubble, warns a report issued on Monday.
The UBS Swiss Real Estate Bubble Index shows that at the end of September real estate prices – fuelled by population growth and higher demand – entered the zone where they are at risk of a bubble for the first time since the 1990s………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Investors in commercial property should look to Sweden, Germany and Finland for the most attractive risk-adjusted returns over the next five years, according to an analysis by Aviva Investors. Finland has become the least risky market in Europe for real estate investors from a macro-economic perspective, the investment manager said.
In contrast, investors in Southern European real estate markets and particularly in Spain face high risks and low return expectations relative to other European countries………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Investing in the emerging Russian market is certainly a challenge for any business: Not only are the systems overcomplicated, but the rules of the game change at short notice, such is the attraction that the idea of changing the market quickly and efficiently holds for the Russian authorities.
This is why regulation itself is favored over market practice, which is trying to chart its own narrow course through the fluid legal environment………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

The real estate sector has emerged from a learning curve and is an important indicator of Bahrain’s economic recovery. Unrest and the downturn of the sector have not severely impaired the market as developers continue to see takers for commercial and residential project.
“Real estate investment is considered to be the main driver behind economic growth,” said Saar Central managing director Nader Al Qassab. “We’re on the verge of moderate growth, according to credit ratings agency Fitch………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

In a puzzling scenario, some Asia Pacific countries are seeing prices rising in their home markets despite a global economic slowdown, according to the latest edition of Knight Frank’s Asia Pacific Residential Review compiled by Nicholas Holt. His findings were posted in an online press release.
Hong Kong is seeing its strongest quarterly growth since third quarter 2009. Quarter on quarter price growth jumped from 1.8% to 8.4% in Q2 in the Hong Kong residential market as sentiment improved and pent-up demand drove up transaction volumes, according to the report………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

In a cramped space on the fifth floor of an old industrial building in Hong Kong, Huang Shaochang and his wife live in some of the priciest real estate per square foot in the world - a 35 sq ft room with a bunk bed and small TV.
Sky-high property prices forced them into these squalid conditions and prompted the Hong Kong government last month to impose measures to rein in residential home prices, which jumped 20 percent in the first nine months of this year even as the economy contracted 0.1 percent in the second quarter………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Experienced and financially powerful, foreign investors have also suffered from the real estate crisis in Vietnam. A lot of foreign invested real estate projects were registered with huge capital, but they have been left “immovable” since the day of licensing.
Ha Long Star in Quang Ninh province, Da Phuoc urban area and Jade Center in Da Nang City or Byooyoung international residential quarter in Hanoi, has the registered capital of between 170 million and 500 million dollars………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Australian home prices rose for a second straight quarter, the first back-to-back increase since 2010, led by gains in the capitals of states at the center of the nation’s mining boom.
An index measuring the weighted average of house prices in eight major cities advanced 0.3 percent in the third quarter from the previous three months, when it rose a revised 0.6 percent, the Australian Bureau of Statistics said in Sydney today. The median estimate of 15 economists surveyed by Bloomberg News was a 1 percent rise………………………………………..Full Article: Source

Posted on 06 November 2012 by Laxman |  Email |Print

Equity funds focused on property sector rebound in 2012, but managers raise concern over lack of visibility. Despite data showing a strong performance bounce in the first half of 2012 compared to the past two years, global property equity fund managers remain ‘uncertain’ over future prospects due to a faltering US recovery and questions over future growth in China.
Global property equity funds saw a sharp rebound in the first half of 2012, up 12.6 per cent in the first six months of the year compared to a 7.8 per cent decline in 2011 and a fall of 10.5 per cent in 2010, S&P Capital IQ fund research has revealed………………………………………..Full Article: Source

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