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Real Estate Briefing 21.Nov 2012

Posted on 21 November 2012 by Laxman |  Email |Print

With the seismic shifts taking place in economies, power structures and societies around the world, a very different economic landscape is developing in which the rise of the emerging economies looks set to be a permanent feature. But what does this mean for the world’s global cities? Traditionally the likes of London and New York have reigned supreme, but will they be able to maintain their dominance in the face of growing competition?
Research by Knight Frank suggests that, for now at least, their position looks safe. Let’s take a look at some of the hottest property markets in the world, according to a recent report by Knight Frank………………………………………..Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

When you want to gauge the health of a housing market, your instinct may be to check housing prices, sales volume or possibly even foreclosure rates. But a less-watched indicator called vacancy rates speaks volumes about a housing market’s long-term condition.
A home that sits idle does not merely diminish the value of other homes on the market, it also discourages investment in an entire neighborhood. High home vacancy rates can be toxic to real estate prices……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

New-home construction unexpectedly climbed to a four-year high in October, more evidence of a revival in the industry that’s helping propel the U.S. economy. Housing starts rose 3.6 percent to a 894,000 annual rate, the fastest since July 2008 and exceeding all estimates in a Bloomberg survey, Commerce Department figures showed in Washington.
The median forecast of 82 economists called for an 840,000 pace. Permits for the construction of single-family homes also advanced to the highest in four years……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

The housing recovery has achieved liftoff, but it won’t reach escape velocity until tight-fisted banks loosen tough lending standards put in place after the worst housing crisis since the Great Depression.
The latest signs of strength came from Tuesday’s numbers on housing starts for October, which hit the highest rate in more than four years. Construction began at a seasonally adjusted annual rate of 894,000 units — at 3.6 percent gain — to hit the highest level since July 2008 when the housing bust was in full swing……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

There are two forces that are giving the real estate market a false appearance of recovery today. They are the bulk investors and Ben Bernanke. Just imagine where the real estate market would be if either party were absent. Comparing the current condition to the subprime bubble, there are two similarities. The Federal Reserve is instrumental in starting the bubble while Wall Street provides the endless supply of air.
Under Bernanke, the Fed launched three rounds of ‘QE’ plus ‘Operation Twist’ in between. One of the objectives is to drive mortgage rates lower. In theory, that should stimulate housing……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

How much can you get for $1 million in today’s real estate market? The answer, of course, varies depending on where you’re looking to buy.
In the wake of the U.S. housing crisis, consumer confidence and home values fell sharply, while prices in some cities are less than half of what they were in 2007. In many local markets, however, such as in New York; San Francisco; Anchorage, Alaska; and Omaha, Neb., people on the front lines are optimistic about a recovery in sales volumes, prices and buyer confidence……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

The growth of Colombia’s real estate sector is having a strong impact on secondary housing markets. Following the rising price of new housing, used home (existing home sales) prices in Colombia have continued to increase and have now reached an historical high. According to a report by Portafolio, since the end of 2004 used housing prices have jumped 74%.
Housing demand in Colombia will likely remain strong given the current pace of the country’s economic growth and the general availability of financing. The Colombian economy is forecast to grow approximately 4.5% in 2012 and should grow more than at a healthy rate of 4% in 2013, particularly if the Central Bank does not raise the reference interest rate. ………………………………………Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

Europe’s main high streets have seen the number of investment deals increase from less than 5% of total retail property investment in 2007 to 37% in the first three quarters of 2012, Savills has said.
Savills’ latest retail real estate report traced the rise in the top eight Continental European markets. The rise in investment activity has caused yields for high street investments to harden to 4.27%, which is the lowest they have been since 2007……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

The FSA has warned borrowers in financial difficulties who are looking to sell their home quickly to beware committing fraud. The regulator says it has evidence that some below market value or distressed property sales involve fraud, where the buyer - a company or an individual - asks the seller to state the property has been sold for full market value, rather than the agreed price.
The FSA says this is usually done so the buyer can borrow the full amount they have agreed to pay for the property, which would not happen in the current market as lenders require at least a 5 per cent deposit……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

Prices in Prime London Central (PLC) have risen in value 3.7% in Q3 2012, bringing total price growth over the preceding 12 months to 15.3%.
However, the number of transactions have fallen by 9% in Q3 to just 5226 over the year. In Greater London, sales in the £2m - £5m sector have decreased by a staggering 53% as the effects of the new tax legislation begin to bite……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

Cushman & Wakefield has published today “Retail Space Across Russia” – a report exploring retail real estate of the largest cities of Russia. “The economic situation is stable and the retail sector is one of the key drivers of the Russian economy” according to Cushman & Wakefield’s report launched at MAPIC.
The second edition of “Retail Space Across Russia”, following the first report published in 2010, explores the retail real estate market in 30 Russian cities, with information including retail trade turnover, shopping center supply, pipeline and presence of key international and Russian retail chains……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

Russian real estate investment volumes came to $1.3 bn (EUR 1 bn) in the third quarter of 2012, according to new research by property adviser CBRE.
The result is 11% down year-on-year, but just 3% compared to Q2 2012. Cumulative amount of investments has reached $2.85 bn since the beginning of the year……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

Villa prices in prime parts of Dubai rose by 19.9 per cent over the first nine months of 2012 - the second-highest rate globally - compared to just 10 per cent in prime areas of central London, according to Knight Frank.
The difference was attributed to the recovery in Dubai’s property market and tax changes in the UK having made the UAE more attractive for investors. Dubai came 17th place in Knight Frank’s 2011 rankings, having recorded a 0.3 per cent fall in prices. The recovery in the local property market this year saw it shoot up the table to second place with 19.9 per cent price rises……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

Asian real estate investment trusts (reits) should be an essential component in a retail investor’s portfolio, says a report by the Asia Pacific Real Estate Association (APREA).
The region’s reits provide investors with a liquid and high-quality real estate investment opportunity to access the dynamics of the Asian real estate markets in listed real estate investment products, the report noted……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

The real estate sector will continue to remain an attractive investment destination with the possibility of prices in residential areas appreciating by 91 to 145 per cent in select cities over the next five years, a survey said.
In a first of its kind report prepared by Knight Frank, a real estate advisory firm, high possible return on investments ranging between 18.6 percent and 29 percent per annum over the next five years will emerge as a key driver for investors’ interest in the sector……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

Five large real estate enterprises in China invested 11.05 billion yuan ($1.75 billion) to bid for land from Nov 13 to 15, reports say. But with the final price fetched for some land being 44 percent higher than the bid price it would appear that a new round of price hikes is just around the corner.
The phenomenon is caused by different factors. The Chinese economy is expected to enter a new phase, with property developers feeling the authorities will loosen controls. Some local governments are also eager to increase their revenues from land transfers, to relieve their debt burden……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

Increased property sales, stabilising home prices, and aggressive land purchases by major developers all point to a positive outlook for the mainland real estate market, say property analysts.
But beneath the surface, they warn, lurks a hidden worry - sizeable inventories - which could emerge to derail improving sentiment next year. According to a report from Nomura Equity Research released on Monday, month-to-date aggregate property sales were up 108 per cent year on year in 10 major mainland cities tracked, including Beijing, Shanghai, Guangzhou and Shenzhen……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

Only Monaco and London luxury flats more expensive, but city’s prices could moderate as stamp duty deters some mainland buyers. Hong Kong has jumped two places to become the third most expensive city in the world for luxury apartments after a sharp rise in prices this year.
The latest survey by Global Property Guide, a US online property research website, put the average price of luxury apartments in Hong Kong at US$1,893 (HK$14,674) per square foot in November……………………………………….Full Article: Source

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Posted on 21 November 2012 by Laxman |  Email |Print

The robust Philippine real estate is showing no signs of slowing down with vacancy rate falling, pre-leasing for office spaces been committed already for the next two years and supply is getting tighter all indicating that a bubble burst is far from happening in this sector, said global real estate services firm CBRE.
The robust Philippine real estate shows no signs of slowing down with vacancy rate falling at its lowest record and pre-leasing for office spaces been committed already for the next two years as supply is falling strong indications that a bubble burst is far from happening in this sector, said global real estate services firm CBRE……………………………………….Full Article: Source

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