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Real Estate Briefing 10.Dec 2012

Posted on 10 December 2012 by Laxman |  Email |Print

It’s now conventional wisdom that the housing market — once the anchor that sank the American economy — is the ballast that’s keeping it afloat, however tenuously. The Case-Schiller index of home prices, released last week, showed a sixth straight month of year-over-year increases.
Rising home prices buttress consumer demand as home prices are the single biggest source of the average consumer’s wealth. In addition, a recent report on housing starts showed that more new buildings are being constructed than at any point since July of 2008, and a revitalized construction industry could do much to bring down unemployment and spur economic activity………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

The office and industrial real estate sectors continue to improve for Southern California landlords, a report said, but high office vacancy will remain common for the foreseeable future as businesses put more workers into less space.
The regional economy has strengthened the past year and enabled some businesses to hire more workers, according to USC’s annual Casden office and industrial property forecast. That has resulted in higher occupancy and rising rent for industrial buildings, while office landlords are seeing rising occupancy and smaller declines in the amount of rent they can charge………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

1. “The homes you’re looking at have already sold.” Once upon a time, house hunting meant perusing local newspapers and being led through properties by a real-estate agent. Nowadays, most home buyers head straight to their computers: A record 90% searched online this year, up from 65% a decade ago, according to the National Association of Realtors. Trouble is, homes listed for sale online aren’t always actually available.
More than a third of home listings that are labeled as “active” on third-party listing sites Trulia and Zillow are no longer for sale, according to a 2012 study by consulting firm WAV Group that was sponsored by online brokerage Redfin (which also lists properties for sale)………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

Brazil has recorded the highest annual increase in prices, up 15.2% year on year, but the pace of growth is slowing in residential real estate markets across the globe.
The latest global house price index from Knight Frank shows that overall house prices in mainstream residential markets increased by just 0.1% in the three months to the end of September and by 1% in the last 12 months………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

The outlook for the UK economy and house prices remains more unclear than usual, according to the latest Halifax UK Housing Market Outlook for 2013. Subdued economic growth, sustained high unemployment and pressures on household finances will constrain housing demand.
But the relatively low level of mortgage payments in relation to income to provide support for house prices. House prices are likely to be strongest in London and the South East. Prices are likely to rise, albeit very slowly, beyond 2013 as the economy strengthens………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

Soaring property prices and a mortgage famine are having a radical social impact on the way renters live their life. It is a situation replicated across the country where a major transformation is taking place in the housing market and renting is becoming the new norm.
The number of households renting in the private sector has more than doubled since the mid-90s, from 8% to 17%, according to Shelter. Traditionally the private rental market was mainly the preserve of students and young professionals but in recent years they have been joined by ever increasing numbers of young families and people in their 30s, 40s and 50s. Of households renting privately, one-third are families and nearly half are over 35, with one in three aged over 45………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

Spain’s pledge to generate profit from its bad bank will be undermined by two more years of property-price declines and the cost of maintaining the repossessed homes it will own, according to real estate and finance professor Jose Luis Suarez.
The bank, known as Sareb, was created to purge toxic assets from the books of troubled Spanish lenders. Most of it will be linked to residential property and development land in Spain that will continue a price decline that started when the country’s housing bubble burst in 2007, said Suarez of the IESE business school in Madrid………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

The real estate market in Saudi capital Riyadh is currently being driven by a number of master-developed projects mainly in retail market which will increase the volume of stock in the marketplace significantly, said a report.
Saudi Arabia’s economy remains robust as a result of sustained high oil revenues and continued government spending on infrastructure, healthcare and education projects in a bid to diversify the economy away from the petrochemical sector, said……………………………………….Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

The average apartment price in Dubai rose by 13 percent this year and is expected to grow at the same rate next year as speculative buyers prop up demand, a study released on Sunday showed. Prices rose despite expectations of around 36,000 new units forecast to enter the market in the next two years, a study by property consultancy CBRE showed.
“Because the best quality products (properties) are seeing this demand, they are raising the rest of the market,” said Matthew Green, head of research & consultancy UAE at CBRE Middle East………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

Dubai’s property market is showing signs of significant improvement as residential rents and apartment prices jumped by double-digits in 2012 compared to last year, according to a latest report by an international property consultancy firm.
The higher growth in rentals is attributed to the sustained period of population growth, positive economic performance, increased occupier demand, and limited availability of quality units in the most desirable locations………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

Contrary to a boom expected in the real estate market, the festive season failed to revive property registrations in the city. Non-affordability continues to drive away home buyers, feel industry experts. According to the data from Director General of Registrations, property sales registrations in October fell 8.5 per cent from September.
Although festivals of Diwali, Eid and Navratri, typically considered auspicious for home buyers, fell in October, house registrations dropped to 4,115 from 4,500 in September. August figures remained stagnant over September as buyers delayed purchase decisions in the hope of new offers and project launches around the festive season………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

China’s real estate investment rose 16.7 percent in the first 11 months of 2012 from the same period a year earlier, up from an annual increase of 15.4 percent in the first 10 months, the National Bureau of Statistics said on Sunday.
Revenues from property sales in the country rose 9.1 percent in the January-November period from a year earlier, compared with an annual increase of 5.6 percent in the first 10 months………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

Hong Kong home sales are mired in a slow and painful contraction and estate agents predict a recovery is not on the cards until after the Lunar New Year. “The market is painfully slow,” said Patrick Chow Moon-kit, head of research for Ricacorp Properties. “The situation will last for a while.”
Chow predicted an improvement might only be seen after the Lunar New Year in February, but perhaps even later. “In light of a decline in demand from Hong Kong and mainland investors, it is hard to say when the market will stage a recovery.”……………………………………….Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

The year looks like it is ending with a flourish for the property market, with turnover up and condominium resale prices already at a historic high. The only weak spot is rentals, which have weakened in the wake of increased supply and job cuts among global firms.
Condo resale prices rose overall to $1,222 per square foot (psf) on average for October and November, according to the Singapore Real Estate Exchange (SRX) on Friday. This is 5.4 per cent up on the $1,159 psf average recorded during the third quarter this year………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

“Wait” was selected by Taiwan Realty Co., one of the largest real estate brokerage companies in Taiwan, to be the word that best represents the status of the housing market in the country this year, a company executive said Friday.
The word was selected by the company’s branch offices countrywide through a survey on their clients between Nov. 19 and Dec. 3, said Jack Chou, manager of Taiwan Realty. “Wait” was the most popular of 10 words used to describe the housing market this year, followed by “unexceptional” and “deadlocked,” Chou said……………………………………….Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

Once a laggard in the region, Manila is rising to be one of Asia-Pacific’s most appealing property markets amid escalating concerns over high property prices in China’s core markets.
Based on a research published by Urban Land Institute (ULI) and PwC “Emerging Trends in Real Estate 2013,” Manila ranked 12th out of 22 regional markets ranked in terms of investment prospects and ninth in terms of development prospects, marking a rapid rise from near the bottom of the rankings in previous years’ polls………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

While the recovery in the American market continues to go from strength to strength (for now at least) other markets which have until now proven resilient to the crisis, are now beginning to suffer.
Australia has been very strong during the crisis. It has been a constant shock to many owing to the fact that the UN ranked it one of the most overvalued markets in the world before the crisis, but for all the times commentators cried overheating, Australia continued to grow strongly as demand refused to wane………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

Home-loan approvals rose less than economists forecast in October even after central bank interest-rate reductions aimed at stimulating the economy and boosting the housing market.
The Australian Bureau of Statistics (ABS) said the number of loans granted to build or buy houses and apartments advanced 0.1 per cent from September, when they rose a revised 1.1 per cent. Economists had predicted approvals to increase 3 per cent………………………………………..Full Article: Source

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Posted on 10 December 2012 by Laxman |  Email |Print

Homebuilders and other housing industry stocks have been strong performers in 2012 as low interest rates offset higher underwriting standards for home loans. The SPDR S&P Homebuilders ETF rose more than 54% since the beginning of this year, while the iShares Dow Jones U.S. Home Construction ETF is up more than 74% over the same period.
While equities may offer exposure to homebuilding companies, commodities represent another great way to play the boom in the homebuilding industry. Timber, copper, cement and other commodities are widely used in the construction and therefore could benefit from the higher demand due to new home construction in the United States………………………………………..Full Article: Source

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