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Real Estate Briefing 23.Nov 2012

Posted on 23 November 2012 by Laxman |  Email |Print

Falling home prices and an uptick in household income made Canadian home ownership slightly more affordable in the third quarter, but the longer-term trend is largely unchanged, according to a report by RBC Economics released on Thursday.
RBC, Canada’s largest bank and a huge mortgage lender, measured affordability as the percentage of monthly pre-tax income for a household needed to cover the typical costs of owning a home, including mortgage payments, utilities and property taxes………………………………………..Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

The Canadian housing market may be correcting but not collapsing. In his Nov. 22 market report, Gluskin Sheff economist David Rosenberg draws attention to a Globe and Mail story, Drop in home prices spreads to Toronto,” specifically taking issue with the commentators calling for home prices to tumble by 25% or more.
It’s tough to see the housing market going into a tailspin, Rosenberg says, when the inventory backlog in the single-detached housing market is balanced and not excessive………………………………………..Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

The good news for the American residential real estate market is continuing with two leading indices showing that sales and prices are still on an upward trend. National home values continued their year long climb in October, rising 1.1% from September to $155,400, according to the latest Zillow Home Value Index.
The monthly increase was the largest since August 2005, when home values rose 1.2% month on month, and is the 12th consecutive monthly increase. Annually, home values were up 4.7% from October 2011, the largest gain since September 2006………………………………………..Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

One of the most often talked about parts of the economy is the real estate market sector. Because real estate is such a large and important part of the economy, naturally, many eyes are focused on whether or not this market sector can and will rebound from its deep decline.
While we have certainly seen a strong bounce off the bottom, there are still many concerns for the future of both the real estate market sector and housing stocks, specifically. Investors in housing stocks are definitely ahead of the curve, as many housing stocks have increased substantially. With gains in excess of 100%, the question on many people’s minds is: will the real estate market sector continue its upward trajectory, or are housing stocks teetering on the edge of a massive decline?……………………………………….Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

The US is undergoing a housing market recovery, after nearly four years of falling prices. Reporting on Federal Housing Finance Agency figures, the Global Property Guide revealed that house prices are once again rising, with the index increasing 4.75 per cent during the year to August.
This is the largest annual growth recorded since September 2006, showing that real estate in the US is once again a stable property investment. Demand is also returning to the market, with residential sales increasing and construction activity gaining momentum………………………………………..Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

The American property market is continuing its meteoric rise from the ashes of depression to the clouds of happy dancing recovery as it sees one of the fastest and most definite turnarounds we have seen from the current crash.
Many had said that as American property market led the world into the crash that it would be the first to get back to business as normal, and while business as normal is a long way off yet, at the current pace it will indeed be the first to get back to normal runnings – in the western world anyway………………………………………..Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

James Mackenzie, head of Strutt & Parker’s Country Department, said: “There is a general murmur in the market place that there may never be a better time to move to the country in terms of value for money, and I believe next year we will see even more families flocking to the countryside, especially in commuter belt areas”.
A second prediction is for a continued decline of interest in refurbishment projects coupled with increasing concern about homes’ eco-friendly elements. “Environmentally friendly, modern homes that require no work are replacing the Old Rectory as the new ‘dream home’ as people’s priorities change,” said Mackenzie………………………………………..Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

Property buyers are more cautious when it comes to investing in Italian real estate due to the challenging financial outlook in the country. However, the wealthier individuals from across the world still believe that it is among the best hotspots for second homes.
Unlike some of the other European countries such as Spain, Italy has not experienced a real estate market bubble before the outbreak of the economic crisis in 2007. Although official reports suggest a 10.5 per cent drop since the peak prices in Q2 of 2008, real estate analysts say that prices have actually decreased by 30 per cent over the past five years………………………………………..Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

The IPD Nordic Quarterly Property Fund Index suggests returns from the assert class hit 1.9% through the period, up from 1.7% in the previous quarter.
Over a 12 month period, the index has returned 8.2%, IPD said, although some of this return is because of the ongoing depreciation of the euro versus local currencies………………………………………..Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

Even though Tanzanians have now taken a special liking to owning property, high prices and bank interest rates hinder them from achieving this goal, leaving the majority out.
“Currently, if one wants to own a good house in Tanzania, he should have at least Sh300 million,” said Mr Eddie Mkwaya, a property manager with JR Real Estates Agency in an interview with BusinessWeek recently………………………………………..Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

Saudi Arabia is studying draft regulations that could see the creation of a real estate refinancing company similar to US firm Fannie Mae, according to proposals published by the central bank this week.
The regulations are part of long-awaited government efforts to develop a housing mortgage sector in the conservative kingdom where the restrictions of Sharia law have made it difficult to secure lending against property………………………………………..Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

Mumbai has witnessed the highest growth in retail rentals globally with city’s Colaba Causeway recording 75 per cent jump in rental value over the last year, according to the report by property consultant Cushman & Wakefield.
Kolkata’s Park Street and Chennai’s Khader Niwaz Khan Road were at 5th and 10th positions, respectively, in the list of ‘Top 10 — Global Highest Retail Rental Growth Markets 2012’, C&W said in its report ‘Main Streets Across the World’……………………………………….Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

It has been a pulsating year for Singapore’s private housing sector, with homebuyers’ aspirations remaining firm even as prices and volumes defy conventional market cycles to hit record highs, but there are signs that the market is now heading towards equilibrium.
In today’s market, speculation no longer drives the property buyer following the implementation of sellers’ stamp duty in January last year for sales that take place within four years of the home purchase. The purchase decision largely comes from a desire to seek out investment opportunities and fulfil ownership aspirations………………………………………..Full Article: Source

Posted on 23 November 2012 by Laxman |  Email |Print

New rules allowing foreigners to own real estate could cause prices to rocket in the booming Indonesian capital of Jakarta. A change in property laws for foreigners in the Indonesian capital of Jakarta could see prices rocket.
Strong demand for rental property from expats has seen costs shoot up almost 15 per cent this year as expats head to Indonesia, which is enjoying a period of strong economic growth………………………………………..Full Article: Source

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