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Real Estate Briefing 05.Dec 2012

Posted on 05 December 2012 by Laxman |  Email |Print

It’s official: Canada’s central bank has formally recognized that the country’s housing market is starting to cool. Unfortunately, that doesn’t bring a lot of clarity to the key issue that’s keeping a lot of Canadians awake at night, namely how deep the correction will be.
Canada’s housing market has seen robust growth for several years both before and after the global financial crisis, with a fairly brief wobble in that period. That growth pushed prices to record highs, worrying both the central bank and the federal government………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

Canada’s finance minister is taking credit for the recent cooling in the hot housing market, saying a slowdown now is better than a crash later. Jim Flaherty was reacting to the sudden loss of momentum in the Canadian economy and the role housing, with the sector contracting 3.5 per cent annualized in the third quarter, is playing.
The government moved for the fourth time in as many years to tighten mortgage availability in July, resulting in a sharp reduction in housing activity, resales and even lower prices in some markets………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

A still-challenging economy from mid-2011 to mid-2012 doesn’t appear to have hurt the corporate real estate market in most of Canada’s major cities, says a new report.
Office vacancy rates in that period fell significantly in Montreal, Toronto, Calgary, Edmonton, Winnipeg and Vancouver, according to Newmark Knight Frank Devencore’s national office market report for 2012………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

A revival in the U.S. housing market is amplifying the impact of the Federal Reserve’s efforts to spur the world’s largest economy.
Home values boosted by record-low mortgage rates are helping improve the finances of both households and banks. That’s easing the flow of credit, providing a further boost to the housing market and the economy, say economists at Bank of America Corp. and Deutsche Bank AG………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

The prices of homes sold in the U.S. increased 6.3 percent on a year-over-year basis in October, according to a new report from Irvine, Calif.-based CoreLogic. That is the biggest year-over-year monthly increase in U.S. home sale prices since June of 2006 and the eighth consecutive month of year-over-year monthly increases for the U.S. housing market, according to CoreLogic.
“The housing recovery that started earlier in 2012 continues to gain momentum,” said Mark Fleming, chief economist for CoreLogic. “The recovery is geographically broad-based with almost all markets experiencing some appreciation.”……………………………………….Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

San Francisco is expected to reign as the nation’s top real estate market for investment, development and homebuilding in 2013, according a recently released annual report from the Urban Land Institute.
The report, “Emerging Trends in Real Estate,” placed San Francisco above other markets such as New York (second), San Jose (third) and Austin, Texas, (fourth) for having the best real estate prospects in the year to come………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

Corporate bonds, private placements and small retail bonds are taking the place of many conventional banking loans in Europe these days. The Financial Times estimates European property groups have raised about €15.4 billion ($19.98 billion US) for the first nine months of this year, compared with €8.3 billion ($10.76 billion US) in 2011.
If the trend continues, non-banking funding totals will hit almost €20 billion ($25.9 billion US) by the year end, a record annual total, Bloomberg reports. One euro equals $1.30 U.S………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

Figures for November show the lowest monthly seasonal drop in new ‘for sale’ and ‘sold’ properties for at least five years. Data from the Agency Express Property Activity Index reflects a “surprising resilience” in the property market as UK residential properties achieving sold status decreased by 1.2% while new ‘for sale’ listings fell 7.3 p% between October and November.
These figures represent the lowest seasonal drop since the index was started in 2007………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

Government welfare policies are segregating the rich and poor, but one housing association has other ideas. On the north side of Union Square there is a terrace of tall, early-Victorian townhouses.
Elegantly proportioned, their weathered, sandy-coloured brickwork offset with white stucco, they epitomise the classic north London bourgeois family dwelling. The neighbourhood is chic and central, and coveted, it is said, by City bankers and lawyers. In London’s booming property market, a three-bed home here goes on sale for £1.4m………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

Warsaw is attracting by far the most attention from investors looking for office buildings in Central and Eastern Europe, with many of the other major locations in the region suffering from the lack of the right products.
“CEE seems to have shrunk to one city, Warsaw,” said a participant in last week’s New Europe GRI 2012 real estate event in Warsaw, whose name and company affiliation we cannot cite due to the Chatham House Rule formula of the meeting………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

In conditions of expensive borrowing and a lack of their own funds developers have to postpone the realization of new house projects for an indefinite term, and a shortage of ready business and prime class houses is emerging on the market, the business development director at Knight Frank Kyiv, Yaroslava Chapko, has said.
According to a survey of the country real estate market of Kyiv for the third quarter of 2012 drawn up by Knight Frank Kyiv, as of September 2012, houses in 73 housing estates were available for purchase, and the share of economy class houses is over 65% of total supply, while the share of the prime segment is only 5%………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

Saudi Arabia is expected to pump nearly SR1.3 trillion (Dh1.28 trillion) into projects to build new houses for its people to meet a steady growth in the population in the next eight years, the Gulf Kingdom’s largest bank said on Monday.
From around 28 million at the end of 2011, the country’s population is projected to reach nearly 37 million in 2020, National Commercial Bank (NCB) said………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

Dubai is the preferred market for real estate investors in the Mena region, with sentiment towards the emirate improving significantly over the past 12 months, according to a new survey by Jones Lang LaSalle.
The seventh Jones Lang LaSalle Real Estate Investor Sentiment Survey (REISS), which queried more than 150 institutional investors from across the Mena region, found that real estate remains a popular asset class among Middle East investors, with more potential buyers than sellers in most markets………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

Global investors got burned badly in Indian real-estate a few years ago. Now, a handful are trying anew—but with a different strategy. In the largest commercial real-estate deal in India this year, private-equity firm Blackstone Group made an equity investment of $170 million in a portfolio of three office complexes.
That followed a $200 million investment a year earlier into a joint venture that operates an office park. In March, Morgan Stanley’s real-estate investment fund invested $90 million in a joint venture developing a Mumbai apartment complex, the firm’s first investment in Indian real estate in four years………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

Price appreciation in the housing segment has slowed significantly during 2012 in the top seven cities of the country with average capital value rising by only 1-3 percent, a recent survey has shown. Yet many brokerages are still bullish on India’s residential market.
Dun & Bradstreet estimates the contribution of housing construction to GDP to grow at a CAGR of 6.9% over financial year 2012-2015 to reach Rs 318,660 crore despite India’s top realty firms facing inventories pressure and huge debts which are creating a liquidity pressure on their balance sheets………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

In October, new house prices rose in 35 out of the 70 Chinese cities tracked by the national bureau of statistics, up from 31 in September. Prices fell in 17 cities, and remained unchanged in 18 cities, including Shanghai.
It is a sharp turnround from the bleak predictions for a downturn or even a housing sector crash that have dominated the news until recently. Just two months ago, the World Bank warned that a “property market correction” was one of the biggest risks facing China………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

China Vanke Co Ltd, the country’s largest real estate developer by turnover, more than doubled sales in November from a year earlier to 17.13 billion yuan ($2.75 billion). For the first 11 months, sales rose 9.9 percent to 127.2 billion yuan, it said in a statement to the Shenzhen stock exchange on Tuesday.
Vanke’s strong showing comes on the back of 12 new projects. It said earlier this year that it planned to roll out more new housing projects in the second half of the year especially in the fourth quarter………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

The outlook for real estate investment and development in Hong Kong is generally favorable in the next year, although this sentiment is tempered by the high costs for both commercial and residential properties, according to a joint report released by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC) Monday.
The report, titled Emerging Trends in Real Estate Asia Pacific 2013 provides an overview of Asia Pacific real estate investment and development trends, real estate finance and capital markets, and trends by property sector and metropolitan area………………………………………..Full Article: Source

Posted on 05 December 2012 by Laxman |  Email |Print

Luxury residential property prices in Singapore and China are showing signs of stabilising after declining over the past six months, according to the latest index.
Meanwhile, luxury residential prices in Hong Kong rose a further 1.7% in the third quarter of the year with year to date price growth totalling 5.7%, the residential index from Jones Lang LaSalle also shows………………………………………..Full Article: Source

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