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Real Estate Briefing 08.Nov 2012

Posted on 08 November 2012 by Laxman |  Email |Print

The housing market is on the slow road to recovery. Home prices in the last three months rose in 120 out of 149 metropolitan markets surveyed by the National Association of Realtors.
Compare that to just 39 rising metros a year ago. The median home price is up 7.6 percent from a year ago, the strongest year-over-year increase since the first quarter of 2006. Much of that is due to the shift in sales away from distressed properties, as lenders modify more loans and in some case write down mortgage principal………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

President Obama’s re-election Tuesday offers him a second shot at fixing the economy and, thereby, the housing market. Or is it fixing the housing market and, thereby, the economy?
The two are inextricably linked, which is why the President cannot afford to put housing issues on the backburner, even amid signs of a recovery in home prices. Housing data in recent months have been encouraging, with the S&P Case Shiller 20-city index showing a 2% rise in August on a year-on-year basis. Housing prices in September rose 5% over a year ago, according to Core Logic , the best showing since July 2006………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

The most glaring absence during the hard-fought campaign between President Barack Obama and Mitt Romney was any offer of substance regarding the housing market. It was, after all, a housing bubble-driven financial crisis that helped propel Obama to victory in 2008 and recent improvements in the housing market that perhaps helped secure his re-election Tuesday night.
So housing policy was always there, even if only in the background. What does the next four years likely hold for the housing market?……………………………………….Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

With the election over, several real estate issues continue to face the national and local economy. It will take the next year to two years to see how things ultimately shake out and much of that depends on how politicians handle them.
Here are some of topics to track: One: The housing recovery and whether it will continue. Recent national and local data indicate that sales are up, prices steady, inventory down and the number of days a house is staying on the market before selling is on the decline. A new poll by FindLaw.com shows that Americans are feeling better about the housing market and the percentage of those who are more likely to buy a house has risen 11 percent from 8 percent………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Prices for single-family homes rose in 81 percent of U.S. cities as the property market extends a recovery from the worst crash since the 1930s, the National Association of Realtors said Wednesday.
Values are climbing after a six-year slump as buyers compete for a shrinking supply of properties listed for sale. U.S. home prices jumped 5 percent in September from a year earlier, the biggest 12-month increase since July 2006, CoreLogic Inc., an Irvine real estate data provider, said this week………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Americans are setting up house at the fastest rate in more than six years, an indication that recession anxiety, which prompted adult children to move in with their parents and single people to postpone marriage, is starting to ease.
The nation added 1.15 million households in the 12 months that ended in September, according to the most recent Census Bureau data. That is a significant rise from the past four years when an average of 650,000 households were formed annually………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Wealthy foreigners from around the globe are taking advantage of America’s housing bust to snap up U.S. properties at cut-rate prices — helping the market rebound in the process.
“We’ve seen [foreign investors] buy $10 million to $20 million worth of houses in a single trip,” says Peter Loewy, CEO of Los Angeles-based Teles Properties. “They think this is a good place to park money, and it’s less expensive than the real estate back home.”……………………………………….Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Barack Obama’s election victory will impact positively on business sentiment in Europe, feeding into occupier markets and, in turn, lifting confidence among property owners and investors, comments Walter Boettcher, director of UK/EMEA Research at Colliers International.
A recent global survey undertaken by Colliers International suggested that few direct property investors in the EMEA region were worried about the impact of the US election on their investment decisions. The same was even true of property investment into the US. Obama? Romney? The general consensus of the survey respondents was that ‘it’s all the same’………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Commercial real estate investment activity in Western Europe dropped by 9% over the first nine months of 2012 compared to same period in 2011 and continues to slow, property adviser BNP Paribas Real Estate (BNPPRE) said.
Central Paris, Central London, Berlin and Munich were exceptions to this declining trend, turning in good performances, BNPPRE said………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

House prices will not recover to their 2007 peak until 2019, the slowest housing market recovery on record, according to a bleak industry forecast for homeowners. Once the impact of inflation is stripped out, average UK house prices are unlikely to hit 2007 levels again in real terms until 2031, Knight Frank said.
The estate agency firm warned that “home owners face a slow erosion of real prices” and said a “further correction” in prices is needed to allow first-time buyers to get on to the property ladder before the market can return to health………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Middle Eastern buyers piled into London’s luxury home market in October as they shielded their wealth from political turmoil back home, including the Syrian civil war.
The trend is not new, but a sharp increase in buying last month suggests wealthy citizens in some Middle Eastern countries believe their security is continuing to deteriorate, even as politics become more stable elsewhere in the region………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

In Dublin, the epicenter of Western Europe’s worst housing-market crash, signs of life are emerging for those with access to cash.
A five-bedroom, Victorian-era home near the center of Dublin was sold last month for 2.05 million euros ($2.6 million), 17 percent more than the reserve price. At the other end of the market, apartments are being snapped up at auction for as little as 50,000 euros in cash. Even prices for homes requiring mortgages across the country rose for a third straight month in September, the Central Statistics Office said………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

According to the experts at CBRE, the leading global property adviser, in 2013 the commercial real estate market will be shaped by an increasingly competitive environment coupled with stalling economic growth.
Among the many trends on the shopping center market, CBRE experts have singled out three which they expect to be actively targeted by investors. These are the unexpected yet dynamic growth of high streets in major Polish cities, the emergence of new specialized shopping center formats and the return of interest in big cities, which are opening up new market and geographic niches………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Abu Dhabi’s top two developers - Aldar Properties and Sorouh Real Estate - said their government-backed talks were at an advanced stage. The two companies also both reported higher quarterly profit, albeit with impairments and asset writedowns as valuations fell, highlighting glum conditions.
Their merger talks were started against the backdrop of continuing oversupply and declining house prices. Prices in Abu Dhabi were expected to fall 5% this year, a Reuters poll found………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Prices of villas in Dubai jumped by 23 per cent in the past one year, while the market has now bottomed out, according to Jones Lang LaSalle (JLL).
In its Global Market Perspective Fourth Quarter 2012 report, the global consultancy said the recovery in prices was most evident in the villa sector where prices rose 23 per cent year-on-year (Q3 2011 vs. Q3 2012), compared to the apartment sector where prices increased by mere four per cent………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

In the recent past, the growth of the real estate sector in both Bangalore and Chennai has been exponential. This is largely due to the fact that they are among the most prominent cities in South India in terms of generating new business.
Of the two, Bangalore has gradually evolved into a more matured real estate market, since the market growth there preceded that of Chennai. Residential property sales in Chennai and Bangalore have been more or less stable of late, with the Chennai market displaying marginally greater buoyancy than Bangalore. The absorption of residential property units in Chennai this year has been almost equal to that seen in 2011. In Bangalore, this year’s absorption has been lower………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Deep-pocketed buyers are making a beeline for disputed properties in Lutyens’ Delhi and South Mumbai, simply because clean titles scarcely come up on the market in these most coveted of India’s residential addresses.
Most homes put up for sale in these areas involve multiple feuding owners, real estate experts say, explaining that the descendants of the original owners often find it difficult to divide these prime properties among themselves………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Tight regulation on mainland force firms to look elsewhere for capital. Mainland developers raised more than 10 billion yuan ($1.6 billion) in the overseas market in October and at least five of them are seeking to use initial public offerings to raise more than $2 billion and be listed on the Hong Kong Stock Exchange by the end of 2012.
The China Securities Regulatory Commission, as part of the government’s effort to cool the overheated property market, has not approved a property developer’s plan for a listing on the Chinese mainland’s A-share market since 2007………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

The Hong Kong government’s toughest efforts yet to curb a growing asset bubble in the city’s property market probably won’t be the last as record-low mortgage rates drive demand for the world’s priciest homes.
Policy-makers last month imposed an extra 15-per-cent tax on all home purchases by companies and non-permanent residents, adding to steps to boost the supply of housing and tighten lending as an influx of buyers from other parts of China underpin soaring prices. Untouched is the major stimulant fuelling prices: borrowing costs tied to the U.S. because of the Hong Kong dollar peg and growth linked to China………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

About 1000 trillion dong sourced from people’s investment, overseas remittance and foreign direct investment has become the dead money due to the real estate unsalability.
After the period with “hot development,” the real estate market is believed to be the “culprit” causing the deadlock to the national economy. The freezing real estate market has made the goods circulation get stuck, thus paralyzing the big resources in the society………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Residential developer Cedar Woods is planning to expand for the first time beyond its traditional West Australian and Victorian markets into Queensland, where it is looking for land acquisitions.
Managing director Paul Sadleir said the Perth-based company wanted to buy developments in the depressed southeast Queensland housing market from developers who had fallen on hard times. “Queensland has probably suffered the most and has the most for sale,” he said………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Having climbed above the previous 2007 market peak in September, national residential property values continued their rise in October, and now sit 1.1% above the peak of five years ago, government valuer Quotable Value (QV) says.
Jonno Ingerson, QV.co.nz research director, says national values are up 1.9% over the past three months and 5.7% over the last year, with the average current value now NZ$420,048. “As a result, values are now 1.1% above the previous market peak of late 2007,” says Ingerson………………………………………..Full Article: Source

Posted on 08 November 2012 by Laxman |  Email |Print

Global real estate funds have been soaring. This year the funds have returned 25.6%, compared to 14.7% for the S&P 500 and 14.6% for real estate funds that focus on U.S. markets, according to Morningstar.
The gains represent a sharp rebound from last year, when the funds lost 10.1%. In 2011, investors fled many foreign real estate stocks because of fears that the crisis in Europe could lead to a global downturn. The losses were particularly severe in China, where the government took steps to cool overheated real estate markets………………………………………..Full Article: Source

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