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Real Estate Briefing 13.Nov 2012

Posted on 13 November 2012 by Laxman |  Email |Print

Foreclosed properties are selling at less of a discount to traditional home resales, helping to explain a surprisingly strong turnaround in home prices in a growing number of housing markets this year.
Nationally, the “foreclosure discount” stood at around 7.7% in September, according to an analysis from Zillow. That number estimates the difference between the discount a buyer might receive on a bank-owned property versus a traditional home purchase. One year ago, that discount stood at 9%, and three years ago it peaked at nearly 24%………………………………………..Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

Real estate in the US is gaining in popularity, with one in five investors choosing property over the pond. The research from The Move Channel revealed that the US is now the most sought after destination in the world, taking the top spot for the first time since December 2011.
Investor interest in the country even outstripped its European rival Spain by 1.01 per cent, accounting for a record 20.91 per cent of all enquiries. This is the largest monopoly enjoyed by a country since The Move Channel began its Top of the Props survey………………………………………..Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

US President Barack Obama must lead phase two of the country’s residential real estate recovery by collaborating with the industry to reduce regulatory uncertainty, it is claimed.
Heading into the election, home price gains were steadfast in the face of uncertainty with the latest figures from date and real estate valuation company Clear Capital showing that prices increased in October on a national, regional, and metro level………………………………………..Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

Calgary has been ranked as the top real estate investment market in the country followed by Edmonton by the Real Estate Investment Network Ltd. In its Top Alberta Investment Towns report, REIN said that Alberta’s economy has come out on top after a few years of economic turbulence.
The report identifies towns and regions poised to outperform other regions of the province over the next three to five years. And none is better than Calgary………………………………………..Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

While the creditworthiness of rated European real estate companies should remain stable for the remainder of this year and into 2013, like-for-like rental growth opportunities are weak and depend on contractual rent indexation, says a report published by Standard & Poor’s Ratings Services titled “European Real Estate Is Still On A Firm Footing, Despite The Weakening Outlook For Letting Activity In 2013.”
Furthermore, over-renting could become a bigger issue than in the past if contractual indexation pushes rents well ahead of market dynamics. “Credit quality among our rated portfolio of real estate companies should remain stable into 2013,” said Standard & Poor’s credit analyst Anna Overton………………………………………..Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

British house prices fell at their slowest pace in more than two years last month as demand from prospective buyers grew, suggesting property prices may be bottoming out, a survey showed on Tuesday.
The Royal Institution of Chartered Surveyors’ (RICS) seasonally adjusted house price balance rose to -7 in October from an upwardly revised -14 the month before. It was the highest reading since December 2009 and easily beat economists’ consensus forecast of -15………………………………………..Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

People want to live in Spain. The economy could be falling apart, but mild weather, laid-back style, and respect for elders make people want to turn the world’s fourth most-visited country into their home or second home. While the housing and job markets are certainly not thriving like they were five or six years ago, if you’ve got an income that can travel with you, many people — especially from China, as well as Northern Europe — are choosing here.
SmartPlanet talked to Graham Hunt, real estate agent and owner of one of the very first Spanish property websites Valency-Property.com, which he started about 13 years ago………………………………………..Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

The Turkish market has undergone a major transformation in the past decade, according to Herman Kok, international research director at Multi Corporation. ‘Turkey used to be a hyper-inflationary economy and highly volatile. But it has left that phase behind it in the past 10 years. Since 2002, the government has created a stable platform for the economy,’ he said.
Kok made the comments at the PropertyEU Turkey Investment Briefing hosted last week in London by Aberdeen Asset Management where a panel of experts discussed prospects for foreign investment in the property sector………………………………………..Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

Average rental rates in Abu Dhabi fell by 6 percent in 3Q2012 compared to the second quarter, according to CB Richard Ellis’s latest update on the UAE capital’s property market.
The real estate consultancy’s report said that the emirate’s ballooning housing inventory was creating greater affordability for residents but meant that rents were fixed on a downward track, albeit still generally higher than neighbouring Dubai………………………………………..Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

Diwali may be the most auspicious time to invest in property, but Delhiites are playing it safe this year. Economic slowdown coupled with the rise in property prices has affected realty investments big time. Experts and property dealers say that the sales have come down by almost 25% as compared to last year. The majority among those who are still investing in property are buying ‘budget houses’ that cost in the range of Rs 40 lakh to Rs 1 crore.
“There is no big excitement for Diwali this year. The Delhi market, in particular, is very slow. The reasons could be because the property prices went up and the market rates are also higher now. There is also a general sentiment of economic slowdown among people. But things are still moving for projects that have competitive prices……………………………………….Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

Amid a recovery in Beijing’s real estate market, commercial property sales in the city gained over 30 percent annually to 13.1 million square meters in the first 10 months of the year, latest figures showed.
Home sales in Beijing soared by over 45 percent annually to 10.1 million square meters from January to October, according to data released by the Beijing Municipal Bureau of Statistics……………………………………….Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

Sinyi Realty Inc said it expected the housing market to start rebounding from this quarter, as the global economy gradually recovers and the public becomes more familiar with the government’s real-estate transaction price registration policy.
However, the nation’s only listed real-estate broker said the uptrend would be modest, as economic fundamentals remain fragile. “The housing market should have bottomed out in the third quarter,” Stanley Su , a manager at the broker’s market research department, told a quarterly conference with investors and analysts in Taipei………………………………………..Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

Several heavyweight international real estate investors have turned to Japan as the market continues to exhibit economic recovery and some compelling real estate fundamentals in the aftermath of last year’s devastating earthquake.
The key to success for foreign investors depends on good local partnerships, a panel of experts on the market will tell PropertyEU’s Japan Investment Briefing in London on 13 November………………………………………..Full Article: Source

Posted on 13 November 2012 by Laxman |  Email |Print

The Reserve Bank of Australia has poured cold water on new home buyers expecting big increases in property prices. A senior Reserve Bank official said in a speech in Sydney today that although growth in new dwellings had trended downward alongside an uptick in population growth, a large increase in prices was unlikely.
More broadly, the subdued housing market will take time to gain traction, Jonathan Kearns, head of economic analysis at the RBA said. “Overall, it looks likely that dwelling investment will pick up at a relatively moderate rate in the medium term,” he said………………………………………..Full Article: Source

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