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Real Estate Briefing 09.Nov 2012

Student housing sector now worth $200 bln globally
Rentals in globalised cities worldwide are expected to register single-digit growth
Two-tier global housing market could lead to bubble: Goldman
Housing policy still key for Obama's next term
Housing recovery and the election
American home prices rise in 81 pct of cities as markets recover
Waiting for housing to drive the US economy
3 Reasons to keep going to open houses after you purchase
Canada: Housing starts fall in October with drops in all regions, CMHC says
Canada's housing market cools, trade gap narrows
UK commercial property market total returns improved last month
Swiss housing market heat could raise chance of Swiss National Bank action
Experts forecast key trends in the Polish commercial real estate market in 2013
Russia: Property overseas – a worthy investment?
Foreign investors advised to head for secondary cities in Turkey
Lebanese real estate sector in state of anticipation
Dubai's illusory real estate rebound
Demand for commercial property at four-year high in UAE
Asians boost global investment in student housing
Four Asia Pacific cities make it to Global Top 10 for real estate investment
Gujarat realty investors look beyond domestic market
HK: Land sales raise property hopes
Singapore: Taming the market with targeted cooling
Cambodia real estate could benefit from QE3
Australia commercial property confidence plunges to 30-month low
NZ: Spring real estate market roars into life in October
Strong New Zealand housing market poses dilemma for RBNZ

Posted on 09 November 2012 by Laxman |  Email |Print

Globally, the student housing market as a whole is estimated to be worth in excess of $200 billion, with study-abroad student numbers expected to increase from around 165 million today to 263 million by 2025.
Market transaction volumes worldwide for the year ending June 2012 were $4.7 billion, with more assets trading above $50 million, showing healthy investor appetite for this asset class, according to real estate services firm Jones Lang LaSalle’s new global student housing report………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

The office rental markets in Beijing, San Francisco, London, Tokyo, Moscow, Hong Kong and Sydney are tipped to register strong rental growth prospects in 2013, says Jones Lang LaSalle’s latest Global Office Index. Other top-performing markets to watch out for are Jakarta, Mexico City, and Rio de Janeiro while tech-rich markets such as San Francisco and Stockholm are also performing well, said Jeremy Kelly, Director in Jones Lang LaSalle’s Global Research team.
“The BRIC (Brazil, Russia, India and China) and MIST (Mexico, Indonesia, South Korea and Turkey) office hubs registered the fastest rental growth,” said Kelly, adding that 2013 will see a stable outlook for global prime office rental growth with the majority of major markets expected to register single-digit rental growth………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

A two-tier housing market amongst developed economies has sprung up as some countries have rebounded faster from the global financial crisis than others, according to new research by Goldman Sachs, which warns the situation could lead to several bubbles.
In a report titled: “Just don’t look down some house markets are flying again” Goldman argues easy money policies by the world’s major central banks has had a ripple effect on countries which have avoided the worst of the global financial crisis, boosting their house prices………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

Though it wasn’t addressed much during the presidential campaign, the path toward a housing market recovery will remain a top issue among the many economic problems President Barack Obama faces in his second term.
The real estate market crash was a major trigger for the economic recession the president stepped into four years ago, and it will remain a major part of the overall economic recovery. His reelection was the least disruptive path for current national housing policy………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

President Barack Obama and Mitt Romney barely uttered the word “housing” during the recent campaign, and neither displayed much of plan for curing the greatest real estate crisis in decades. “On housing, they both suck,” foreclosure expert Sean O’Toole said the other day in a presentation on realty defaults before the Sacramento Association of Realtors.
Still, is it possible that the nascent housing recovery contributed to Obama’s re-election? Alex Villacorta, director of research and analytics at Truckee-based Clear Capital, says yes. “Recent progress gave voters confidence that gains would continue under an Obama administration,” he says in the company’s November market report………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

Prices for single-family homes rose in 81 percent of the nation’s cities as the property market extends a recovery from the worst crash since the 1930s.
The median sales price increased in the third quarter from a year earlier in 120 of 149 metropolitan areas measured, the National Association of Realtors said in a report Wednesday. In the second quarter, 110 areas had gains………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

The US 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 US 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. Higher sales, prices and building, albeit modest so far, are a welcome boost as other drivers of the economy falter………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

Years ago, after closing on your American Dream with a 30-year fixed loan, you probably didn’t think much about the home’s value until you were ready to sell. Today, there’s so much more information available to home buyers. Markets move quickly, and life happens a lot faster.
And so, many people have become hyper-aware of their real estate investments, frequently watching the rise and fall of market values well after the close. Listing e-mails flow daily, and real estate apps likely sit prominently on many homeowners’ smartphones and tablets. Good real estate agents compile “mini CMAs” (Comparative Market Analysis) for their past clients, too, updating them yearly on the latest comps and values………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

The pace of home building slowed in October to a softer reading than economists expected in a report by the federal mortgage insurer, providing yet more evidence of a cooling housing market.
Canada Mortgage and Housing Corp. said Thursday there were 17,507 actual housing starts last month. That translates into a seasonally-adjusted annual rate of 204,107 starts, down almost nine per cent from an annual rate of 223,995 recorded in September. CMHC said there were drops in both single- and multiple-unit starts in urban areas last month………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

Canadian housing starts fell more sharply than expected in October, according to data on Thursday that confirms a welcome slowing in the country’s once-booming property market after the government repeatedly tightened mortgage rules.
Other data from Statistics Canada showed new home prices continued their modest rise in September while the trade deficit narrowed in that month on an oil-led export recovery………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

UK commercial property total returns improved in October, by a modest 0.4%, following September’s 0.2% return, the latest index from CBRE shows.
All Property capital values also showed some improvement, with the decline slowing to just 0.1% compared to September’s fall of 0.3%, it also shows………………………………………..Full Article: Source

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Posted on 09 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………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

According to the experts at CBRE, 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

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Posted on 09 November 2012 by Laxman |  Email |Print

When buying property overseas, experts say a potential investor should be clear about their purpose – to resell, rent out, or achieve some other goal.
Nina Volkova, the director of the international real estate dealer NV-Company, said that most of her firm’s clients buy overseas property for themselves rather than seeing it as an investment opportunity – its profitability should not be expected to exceed 3-5 percent over the next few years………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

International investors interested in entering the Turkish real estate market would be well advised to look at secondary cities outside the big three – Istanbul, Ankara and Izmir. That was one of the key messages that emerged at the PropertyEU Investment Briefing on Turkey held on Thursday at the London office of Aberdeen Asset Management.
‘Investors have to do their homework when they go to Turkey,’ warned Arda Tasarkan, managing director Cenor Group & CEFIC Turkey. ‘Otherwise they could end up in the wrong place.’……………………………………….Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

The Lebanese real estate market is experiencing a phase of stagnation after a boom that invigorated the sector between 2005 and 2010.
Observers are waiting to hear how recently-proposed government taxes could affect the sector, which is experiencing its lowest growth rate in more than six years. This came after the Lebanese cabinet in September began discussing a draft law geared towards raising fees on construction permits and imposing taxes on real estate profit, in order to fund public sector wage hikes………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

In the past few weeks, several high-profile Dubai construction projects on hold since the global financial meltdown of 2008 have been revived. Among the eye-catchers: a skyscraper with nine swimming pools, a mile-long canal winding its way around office buildings, and a replica of the Taj Mahal a mere four times bigger than the original.
The surrounding buzz doesn’t make up for the still-depressed condition of the broader real estate market in this emirate, one of the seven that comprise the United Arab Emirates. Dubai saw property values fall by as much as 65 percent during its four-year slump………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

The UAE commercial sector is stabilising as demand from occupiers topped neared a four-year high, according to a new report.
The Royal Institution of Chartered Surveyors (Rics), in its third quarter UAE commercial property survey, said: “There was a further gradual recovery in real estate sentiment in the UAE during the third quarter, as occupier and investment indicators improved on the more positive mood seen in the second quarter. Indeed, strong demand for both office and retail space has seen the headline net balance rise to the highest reading since 2008.”……………………………………….Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

Millions of young Asians studying in developed countries have fuelled a $200 billion global market in student housing, an international property group said Thursday.
More than half of the estimated 165 million students currently enrolled overseas come from Asia, with China, India and South Korea the top sources, Jones Lang LaSalle said in a press statement issued in Singapore. The United States, Britain and Australia are the top destinations of overseas students, whose numbers are expected to reach 263 million by 2025………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

Direct investment in commercial real estate in Q3 2012 in Asia Pacific dipped slightly to US$22.4 billion compared to US$23 billion in Q3 2011 and US$26 billion in the second quarter, says Jones Lang LaSalle’s latest Global Capital Markets Research.
According to the firm’s new Global Capital Flows report, year to date volumes in Asia Pacific this year are in line with 2011 numbers; with US$71 billion transacted in the first three quarters of 2011 and US$70 billion this year to date. Four of the most active cities in the first three quarters of 2012 were in Asia Pacific: Tokyo, Hong Kong, Seoul and Singapore………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

The real estate market in Gujarat has been reeling under pressure for some time now, but this is hardly a deterrent for Gujarati investors to explore other destinations.
If experts are to be believed, the US, South Africa and Dubai real estate markets are fast emerging as attractive markets for Gujaratis. The real estate market in the state, particularly Ahmedabad, is investor-driven………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

Property market sentiment has improved as home viewing appointments rebound while the latest two sites to be tendered fetched higher than expected prices. However, the government’s recent cooling measures continue to weigh on the sector.
In Ma On Shan, few homesellers raised their asking prices and some even took their flats off the market, shortly after Cheung Kong Holdings won a tender for a plot in the same neighborhood for HK$2.9 billion - 16 percent higher than earlier estimates………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

The Government’s new measures to further cool the residential property market, announced last month, add to the long list of such curbs it has introduced since September 2009. By my count, there are now at least 20 significant and not-so-significant residential cooling measures in place and it can be a major mental exercise trying to recall the different ones.
But if one takes a more in-depth look, one will find that they follow a well thought-out pattern. Examining the sequence of the past and the recent measures and the conditions surrounding them, one can see that the Government has been very methodical in its approach, cooling only speculative and investment demand for housing while leaving genuine first-time home buyers unaffected………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

Cambodia’s highly dollarized economy could benefit from a rush of foreign capital into Asia unleashed by the U.S. Federal Reserve’s latest economic stimulus, unlike some of its Asian neighbors, as it lifts demand for real estate and garment exports in the developing country, a senior official at the country’s central bank said.
Authorities across Asia have been grappling with the threat of asset-price inflation amid rising capital inflows from developed economies, warning that liquidity flows could surge following the recent announcement of new bond-buying programs from the U.S. Federal Reserve, European Central Bank and Bank of Japan. Singapore’s central bank, for instance, last month imposed tighter rules on new home loans to head off a property-price bubble………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

Australian investors’ confidence in commercial property slumped to the lowest in 30 months as business confidence soured, a National Australia Bank Ltd. survey showed.
The NAB Commercial Property Index dropped to minus 19, the lowest since the bank started the measure in March 2010. Retail properties fared the worst, with values falling 1.6 percent in the quarter, followed by offices, where values dropped 0.6 percent, the bank said……………………………………….Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

Keen buyers across the country are driving strong growth in the volume of residential properties sold in October. Sales are 32.6 per cent up on October 2011 and the national median house price is at a new record of $380,000.
The Chief Executive of the Real Estate Institute of New Zealand (REINZ), Helen O’Sullivan, says the springtime surge in new listings is struggling to keep pace with buyer demand leading to a further drop in the average number of days taken to sell to 32 days………………………………………..Full Article: Source

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Posted on 09 November 2012 by Laxman |  Email |Print

The surprising strength displayed by New Zealand’s housing market presents the country’s central bank with a dilemma as it holds interest rates at historic lows in its attempt to spark life into flagging sectors of the economy.
Real Estate Institute of New Zealand data released earlier Friday showed the average house price in New Zealand rose to a record high 380,000 New Zealand dollar (US$312,000) in October, adding 2.4% on the month and 5.8% on the year………………………………………..Full Article: Source

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