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Real Estate Briefing 15.Nov 2012

Posted on 15 November 2012 by Laxman |  Email |Print

Canada’s housing market is leveling off but economic strength, immigration and low interest rates will prevent a steep correction and keep prices and sales mostly flat in 2012 and 2013, real estate agency RE/MAX said on Wednesday.
In its 2013 outlook, based on a survey of trends in 26 markets, RE/MAX said it expects national sales to fall 1 percent in 2012 and then hold steady in 2013, while prices will be flat in 2012 and edge 1 percent higher in 2013………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

The West Coast city of Vancouver is no longer Canada’s hottest real-estate market. Not by a mile. In its 2013 outlook, RE/MAX forecasts home prices in Vancouver are poised to rise 1% in 2013, to an average C$742,000, after this year’s 6% drop.
That’s about what the international real-estate group sees happening nation-wide next year. But for the real action, RE/MAX is casting its eyes mostly eastward. Here’s its forecast for Canada’s hottest markets next year, by expected home-price appreciation:……………………………………….Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

Toronto’s slowing condo market will stabilize next year, but the risk that prices will fall is greater in the longer term, Canada Mortgage and Housing Corporation says.
Shaun Hildebrand, a senior market analyst for the Greater Toronto Area at CMHC, presented his latest thoughts on the market at a conference Wednesday morning………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

Australian building materials maker James Hardie Industries Ltd said it expected the U.S. housing market would improve next year even as the country faces the risk of tax increases.
“Most of us feel that even if we have some bumps, not shocks, on tax rates and stuff like that, the housing market will still grow. It may not grow at the optimum rate but it will still grow,” James Hardie Chief Executive Louis Gries told reporters on Thursday………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

At a time when most investment professionals are preoccupied with the fiscal peril in Washington, Liz Ann Sonders envisions an economic recovery that will be built, literally, with four walls. Just as it helped trigger the Great Recession, housing also is serving as the lynchpin to growth ahead, said Sonders, chief investment strategist at Charles Schwab.
“People are still underestimating the impact that this is going to have,” she said at the Schwab Impact 2012 conference, where thousands of investment professionals are gathering to chart an uncertain future in financial markets. “What people are underestimating is the ripple effect of confidence.”……………………………………….Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

The Canada Pension Plan Investment Board is extending its involvement in the Brazilian real estate market with a $343-million (U.S.) investment in joint partnerships to acquire two portfolios in the fast-growing South American country.
In the first joint venture, CPPIB said it has signed an agreement with Global Logistic Properties (GLP and the Government of Singapore Investment Corp. (GIC) to acquire a portfolio of five development projects in Brazil. CPPIB will own a 39.6-per-cent interest while GLP and GIC will own 41.3 per cent and 19.1 per cent, respectively………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

Hemisferio Sul Investimentos, which recently agreed to sell industrial and logistics properties in Brazil for three billion Brazilian reais ($1.5 billion), said Wednesday that the days of easy real-estate deals in the country are over.
HSI, as the Brazil-based real estate private-equity firm is known, on Wednesday said it agreed to sell industrial and logistics assets to Global Logistic Properties Ltd. , a warehouse operator partly owned by the Government of Singapore Investment Corp. The sale includes 35 developments spread through 10 Brazilian states and serving a variety of clients, said Maximo Lima, a founding partner of HSI, in an interview………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

At a time when Bank of England Governor Mervyn King could use a weaker pound to boost the economy, investors from Japan to Norway are propping up sterling by purchasing more UK real estate than British citizens and the most stocks and bonds in over three years.
Foreigners are spending more on UK properties worth over 6 million ($9.5 million) than residents are, for the first time in a decade, according to Real Capital Analytics Inc. The most recent data on portfolio investments, which include purchases and sales of equities and debt, showed a 37.6 billion net inflow in the second quarter-the biggest since 2009………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

UK property prices have fallen 0.2% this month according to new house price statistics from Adzuna.co.uk. UK average for sale asking prices have dropped £4,048 in the last 3 months to £294,939 in November, but London, the South East & Wales are bucking the trend with price rises of up to 0.9%. The rental market remains strong with an average monthly rent rise of 0.2%.
The new data, sourced from Adzuna’s ‘Market Insights’ tool which launches today, indicates the fall in house prices is being felt across much of Britain, with the North East & South West of England seeing the sharpest declines with the average property in South West England now being listed at £278,437, 6.8% down on the summer months………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

London is the most attractive European location for international retailers, according to a new cross-border retailer index compiled by global real estate adviser Jones Lang LaSalle.
The index, launched today in a new client report entitled Destination Europe 2013 analyses the expansion and presence of 250 international retailers. London comes out as most attractive city across 57 key retail markets. Paris, Moscow, Milan and Madrid, all mature retail markets, comprise the remainder of the top five most attractive cities………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

Despite a drop during the first quarter of this year, French resale property prices are holding their own – in fact they have enjoyed an increase on the year’s growth. A report out from the French Property Market indicated that house prices in France remain 3.9% higher on average when compared to prices recorded last year.
The year did not bode well with property prices having fallen by 1.1% in the first quarter. Flat re-sale prices dropped by 1.6% with house re-sale prices having dropped by 1.4%. However, over the course of the next few months, things really picked up showing that property in France offers investors a stable environment to place their hard earned cash………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

Switzerland is facing a property bubble arising from the imbalances and sharp increases in prices based on a quarter-on-quarter basis, UBS said in a recent published study.
The UBS property index for the Swiss Real Estate has moved higher toward the risk zone during the third quarter. The Swiss property index has indicated that real estate prices in Davos soared 7.6%; Zug recorded a 5.1% increase; and 3.8% increase was noted in Zurich and Lausanne………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

Retail property rents in Central and Eastern Europe (CEE) are highest in the Russian markets, Colliers International has announced in its Eastern Europe retail market snapshot for Q3 2012.
Euro equivalent rents remain highest in the Russian market with prime high-street rents at EUR 510 ($638) m2/month in Moscow and at EUR 258 ($323) m2/month in St Petersburg. At the other end of the scale, Sofia, Bratislava and Zagreb have the lowest rates at €38 m²/month, EUR 40 m²/month and EUR 45 m²/month respectively. ……………………………………….Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

Turkey’s real estate investment companies are trying to attract as much as $10 billion a year to the country’s property market from investors in Europe, the Gulf and Asia after rules on foreign ownership were eased.
Members of the Association of Real Estate Investment Trusts, also known as Gyoder, made a presentation in London’s Canary Wharf financial district on Nov. 8 to bankers, asset managers, real estate brokers and investors. Similar meetings are planned in Qatar, Singapore and Malaysia, the group said………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

US bank Citigroup is gauging the strength of Dubai’s real estate sector by working out how many expat children are enrolled in schools there. A novel method of gauging the property market in Dubai has been launched that involves counting the number of expat schoolchildren around the city.
US banking giant Citigroup has issued a report which uses school enrolment patterns to estimate growth levels among the expat population. This, in turn, links to economic wellbeing in Dubai, which is a good indicator of the health of the property sector………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

Commercial property and home sales surged in Beijing in the first months of 2012, amid the recovery of the capitol’s real estate market.
Commercial property sales gained 30.4 percent annually to 13.1 million square meters during the period, while home sales had year-on-year growth of 45.4 percent to 10.13 million square meters, according to data released by the Beijing Municipal Bureau of Statistics on Monday………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

Recent measures by the Hong Kong government to cool one of the world’s most expensive real estate markets may have dented transaction volumes, but property prices remain high and will continue to rise, analysts told CNBC on Wednesday.
Real estate firm Swire Properties made headlines on Tuesday after announcing the sale of a 6,683 square foot apartment in the Frank Gehry designed OPUS HONG KONG building for a whopping HK$455 million ($58.7 million). That works out to more than $8,700 per square foot — setting a record in Hong Kong, according to local reports………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

Singapore home sales may fall as much as 27 percent in 2013 after climbing to a record this year as six rounds of housing curbs by the government crimps demand, according to Jones Lang LaSalle.
Private home sales next year may drop to 16,000 units from 22,000 units this year, said David Neubronner, the head of the property brokerage’s Singapore residential business. The island state introduced measures including higher down-payments for second home purchases and new taxes for foreign buyers since the start of 2010, he said………………………………………..Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

Philippine property developers remain bullish thanks to robust economic growth and housing and potential hotel demand.
There is stiff competition in the middle residential market, but demand from the high- and low-end segments remain healthy as does that for office space, according to Ayala Land Inc. President Antonino Aquino. “The fundamentals are strong. There could be some short-term adjustments….in the middle market where everybody is,” he said……………………………………….Full Article: Source

Posted on 15 November 2012 by Laxman |  Email |Print

Green building practices and technologies are fast becoming the norm within the global construction industry, according to a major new survey released this week.
The poll, which was undertaken by construction services firm McGraw-Hill Construction and produced in partnership with engineering giant United Technologies and the World Green Building Council, found 63 per cent of the architects, property owners, and construction firms surveyed have green commercial building projects planned for the next three years, while half have green renovation projects planned………………………………………..Full Article: Source

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