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Real Estate Briefing 03.Dec 2012

Posted on 03 December 2012 by Laxman |  Email |Print

The U.S. home prices have begun to rebound in the past year. And in the most expensive markets, where the average home sells for well over $1 million, recoveries are among the strongest, increasing between 20% and 50% in most cases.
According to Coldwell Banker Real Estate, there are at least ten U.S. cities where the average listing price for a home in the first six months of this year exceeded $1.2 million. The majority of these are located on or near the California Coast. For example, San Jose suburb Los Altos, homes sold in the first half of the year averaged a $1.7 million price tag. Based on data provided by Coldwell Banker, 24/7 Wall St. reviewed the most expensive cities for buying a home………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

It’s one of the fundamental truths of real estate: Home prices and desirability are all about location, location, location. According to recent data from Coldwell Banker, there’s a $1.6 million price difference between similar homes in the nation’s most expensive real estate market, Los Altos, Calif. and the most affordable, Redford, Mich.
The average list price for a four-bedroom, two-bathroom home in Los Altos is $1,706,688, while the average price for a similar home in Redford is listed at $60,490. Nationwide, the average list price for a four-bedroom, two-bathroom home is $292,152………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

Six years since the start of the greatest housing collapse since the Great Depression, one doesn’t have to look very far to see signs of a recovery. Nationally, home prices are rising after more than a 30 percent drop since mid-2006.
Rather than being a drag on the U.S. economy, housing is now seen as a contributor to growth. Despite the national numbers, prices aren’t rising everywhere. The still-shaky economy fuels other concerns, particularly threats of recession due to the looming “fiscal cliff.” “It’s almost a ZIP code-by-ZIP code recovery,” said Stan Humphries, Zillow chief economist………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

While much of China is feeling the pressure of soaring home prices, the relatively cheaper homes in some European countries that grant temporary or permanent residents visas seem to provide a shortcut to relief for many Chinese.
“I’ve been following the European immigration policies for a while because some countries’ requirements have become much easier to meet than before, and I don’t want my child to live under the overwhelming pressure of job hunting or mortgage paying as I used to do,” said Liu Changying, a mother of a junior high school student………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

London property prices have fallen for the first time since December last year, marking a slight narrowing of the north-south divide. Property prices in London fell 0.2% in November, the first time prices in the capital have registered a month-on-month fall since December 2011, according to Hometrack Monthly House Price Survey.
Prices in central London fell even further, registering a 1.2% drop. The fall in the capital is in line with a continued slowing of the housing market which is coming into a seasonal lull. The number of new buyers registering with agents dropped -0.8% and property listing fell -0.6%………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

The UK homebuilding industry is becoming even more sustainable, according to the results of the 2012 NextGeneration benchmark. The Benchmark shows The Berkeley Group as the UK’s most sustainable homebuilder, with Crest Nicholson maintaining last year’s second position and Miller Homes retaining third position.
The Benchmark launch will take place today and Andrew Eagles, Managing Director of Sustainable Homes and manager of the SHIFT benchmark of social housing, will deliver a keynote speech on what homebuilders and social landlords can learn from each other with regard to sustainability………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

Norway’s $660 billion sovereign wealth fund, the world’s largest, plans to invest about $11 billion as it enters the U.S. real estate market. The fund, mandated by the country’s finance ministry to eventually put 5 percent of assets in property, wants one-third of that, or 1.7 percent, to be in the U.S., said Yngve Slyngstad, chief executive officer of Oslo-based Norges Bank Investment Management, which oversees the pool.
The fund held 0.3 percent in real estate, 60.3 percent in stocks and 39.4 percent in bonds as of the end of September, according to its quarterly report………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

With the availability of properties at amazingly discounted prices, many people have expressed their desire of securing a home in Greece. Before you can do so, however, a ‘real estate investment facts’ check list must be considered. Firstly, what is the main reason that attracts you to a property in Greece?
Decide whether you want a sound monetary investment or if you’re looking for a place where you can spend time with your family – a second home, a home for retired life or a home for permanent relocation………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

The Saudi housing market continues to expand on the back of high population growth and increasing availability of financing alternatives. Other key determinants include the increasing kingdom’s GDP, growing Saudi labor force and rising personal income, which all have a direct impact on the housing market. This trend will continue as the Saudi economy is expected to grow by 3.9 percent through 2012, NCB Economist report on the Saudi Housing Sector said Sunday.
Key regulatory initiatives such as the newly passed mortgage law, once implemented, will certainly stimulate the demand for housing in the medium to long-term……………………………………….Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

Let’s make no bones about it. It’s a dodgy business, isn’t it? Real estate agents aren’t exactly loved in this part of the world, and despite being at the heart of the industry, I have to agree with much of the sentiment.
Not long ago, Arabian Business ran a feature headlined ‘Imagine a world without estate agents,’ with this magazine making a case to ditch the lot of us and put us out of business once and for all. While I echo some of the sentiment in that piece, such an idea is purely wishful thinking. Buyers and sellers need an independent third party to act on their behalf — quite often because both sides are extremely busy getting on with their own lives and jobs………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

Far from the madding crowds of Singapore’s glitzy shopping malls, Cynthia Neo runs a bridal boutique tucked away in a nondescript industrial building in an old housing estate, pushed off the high street by pricey retail rents.
The owner of J&C Bridal Collections pays one quarter the rent she once shelled out for a shop in the heart of Chinatown, where a string of restaurants, hotels and retail shops meant a steady stream of shoppers. But rising rents may be creeping into the industrial parks too. Industrial property prices have surged 27 percent this year after a government crackdown on residential investment pushed speculators into factories and warehouses………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

Property developers from Japan, Malaysia and Singapore still eye Vietnam’s real estate market with interest, despite global difficulties and the whirlwind of disinvestment in many FDI projects, as they still believe a recovery is imminent.
With the property market decidedly cold, Becamex Tokyu Co Ltd earlier this month broke ground at the site of the Sora Gardens 1 apartments, the first project of the joint venture’s Tokyu Binh Duong Garden City………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

Melbourne is becoming a drag on the national housing market, with new data showing it’s the only capital city where home prices continue to fall. The sharp 1 per cent decline in dwelling values experienced in Melbourne last month has offset the sometimes strong gains witnessed in other capital cities.
Analysts RP Data-Rismark report dwelling values showed no movement last month across the eight capital cities in November. The lacklustre performance for the national market comes despite sharp cuts in the Reserve Bank’s key interest rate over the past year, including a 25 basis point cut in October………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

Current property purchasing behaviours are, in part, mirroring those that began the housing market recovery back in late 2008, where conditions first improved across the most affordable sectors and then moved to significant improvements in premium markets.
As we look forward to 2013, we can ask whether we will see history repeating itself. Current housing market data confirmed that capital city home values have started to record modest improvements over recent months, however, values generally remain lower compared with the same time last year………………………………………..Full Article: Source

Posted on 03 December 2012 by Laxman |  Email |Print

The New Zealand property market tightened further in November as ongoing high demand from buyers drove inventory levels of property for sale to a five year low, while asking prices registered another record high.
According to data released today in the NZ Property Report, inventory - which is measured by the number of weeks it would theoretically take to sell all unsold housing stock on the market - fell to 28.7 weeks in November (seasonally adjusted); a 29% drop from the same month last year, and well below the long term average of 39 weeks………………………………………..Full Article: Source

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