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Real Estate Briefing 14.Dec 2012

Posted on 14 December 2012 by Laxman |  Email |Print

Even as U.S. economic growth stutters, the housing market is showing real signs of a rebound: home prices are up, pending sales and constructing activity is rising, and the number of existing homes for sale continues to drop. The big question, amid slow job growth and stagnant personal income: Will it last?
If the housing upswing does continue, it will likely because of the trend’s unique characteristics, with investors, more than consumers, sustaining momentum. The indicators of a housing recovery are both plentiful and nationwide. According to the most recent Fiserv Case-Shiller data, the real estate market during the spring and summer this year was the strongest since the peak of the housing bubble in 2006………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

Home seizures in the U.S. rose 5.4 percent last month, the first annual gain in two years, as lenders seek to manage the flow of distressed properties without disrupting the housing recovery, according to RealtyTrac.
Banks repossessed 59,134 homes, up from 56,124 from November 2011, the Irvine, California-based data firm said today in a report. The increase was the first since October 2010, when foreclosures slowed after allegations that lenders were using faulty practices to take property from delinquent homeowners. Seizures climbed 11 percent from the previous month………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

A new survey has found that the Usa is the most attractive region in the world for property investment in 2013. The poll by Colliers International found that America is the most desirable location to buy real estate, followed by Asia and Western Europe, particularly Paris, London and Germany.
The Global Investment Sentiment Survey quizzed over 500 property professionals around the world. It asked property experts for their outlook on property nationally and internationally for the next 12 months and found the Usa to be the preferred location to buy………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

Optimism is rising along with home prices as 31 percent of renters plan to buy a home in the next two years, according to Trulia’s new American Dream survey.
That a nine-point increase from 22 percent in January 2011. More than 1 in 4 consumers (27 percent) feel more positive about homeownership than they did six months ago, compared with 19 percent who report feeling more negative………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

According to Coldwell Banker, Americans aspire to own a four-bedroom, two-bath home with roughly 2,200 square feet of space. What you’ll pay, however, varies dramatically: from an average of $60,000 in Redford, Mich., to $1.7 million in Los Altos, Calif.
Los Altos, Calif.: Los Altos means “The Heights” in Spanish, an apt name for one of the priciest housing markets in the country. In this Silicon Valley enclave, a typical four-bedroom costs more than $1.7 million, according to Coldwell Banker’s annual Home Listing Report………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

A year ago, the buzz in Miami about the incipient real estate market in Cuba was almost deafening. My phone rang and rang, and I had to recharge its battery every three hours or so. But once again, we have to concede that Cuba moves at a pace that neither Americans, nor even Cuban-Americans seem to be able to grasp.
Sure, there are some who have gone ahead and ‘invested’ — through straw friends or relatives living in Cuba — in Cuban real estate, bent on benefiting from being among the “first movers.” But all indications are that such ‘investments’ have only had a negligible impact in Cuba, if any (which is not to say they might not still have a significant, and likely negative, impact on the pockets of those intrepid ‘investors’ who dared to make their moves while skirting present Cuban laws)………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

Real estate investors will continue to encounter low interest rates, muted inflation and sluggish growth in most of the world’s major real estate markets for at least the next couple of years according to the 2013 LaSalle annual Investment Strategy report.
A multi-speed economy has seen low interest rates, low inflation and low growth in the developed world (Eurozone, UK, US and Japan) as opposed to higher inflation, high growth/urbanisation and rising interest rates in the developing world (Central and Eastern Europe, Latin America and Asia Pacific (ex-Japan))………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

U.K. house-price growth will accelerate next year, helped by an improving mortgage market and as homebuilding fails to keep up with demand, the Royal Institution of Chartered Surveyors said.
Values will increase 2 percent after a 1 percent rise this year, the London-based group said in a report today. Still, the housing recovery will be “modest” because of the difficult economic environment, it said. A separate report from Acadametrics showed home prices rose 0.2 percent in November, a second straight increase………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

UK commercial property development activity increased for the third month in a row during November, with refurbishment activity rising to its highest level in 28 months, according to a new report.
Estate agent Savills’ monthly UK Commercial Development Activity Report, which analyses the activity and intentions of more than 200 commercial property developers, finds that developer’s confidence about the future remained positive in November, with respondents citing better market conditions and expectations of an easing in credit conditions as reasons for optimism………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

After more than two decades in the sector, Marcus Phayre-Mudge knows a thing or two about investing in property. But instead of bricks and mortar, his TR Property Trust invests in property equities, making it more liquid than the average commercial property fund.
“Property equities – as opposed to physical property – let us focus on particular target sub-markets as well as particular corporate structures which we believe will outperform their peers,” he said………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

Starwood’s upcoming admission to the London Stock Exchange aims to help those investors looking to property investment for both a regular income and returns.
The investment objective of the new Starwood European Real Estate Finance company is to find and fund “compelling real estate opportunities” across Europe and to harvest returns from it, according to Jeffrey Dishner, president of Starwood Capital Europe………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

Buying a home in Berlin is widely viewed as one of the safest investments a German, or any European, can make. That is why some real-estate experts are worried the market could get overheated.
Home prices in Germany’s largest cities are booming. Building permits and home ownership rates are climbing fast. And the percentage of foreigners snapping up second homes in Germany is on the rise………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

Spain is one of those countries who suffered most from the global financial crisis. It is one of those southern eurozone economies that are on the verge of a major recession. At this point, Spain is the country with the highest rate of unemployment in Europe – almost 25%. As a result, thousands of people start losing their homes as they cannot pay off their mortgage loans anymore.
The Spanish government is trying to restore the economic growth by all means. They are even ready to grant residence permits to those foreigners who will purchase residential property in Spain to the amount of €250 000 or more………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

Annual inflation in the country was 2.6 percent, Qatar’s national office for statistics said yesterday citing consumer price index (CPI) figures for November 2012. A disturbing trend the figures show is that rents have risen for the first time in the past few years.
The CPI for rents, fuel and energy, clubbed under one head, showed an increase of 1.9 percent in a year (November 2011 to November 2012). The jump was largely witnessed in a month, from October to November 2012………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

A report from last week noting that private equity giant Blackstone (BX) was moving towards offering a pan-Asian property fund underscored the data that I’ve been collecting from around the region that suggests that bottoms are forming in certain markets.
The stunning turnaround on the Hang Seng from the June low - which has it up 22.5% in less than 6 months -is strongly stating the power of global, coordinated quantitative easing. And since Hong Kong pegs their Dollar to the U.S. Dollar- similarly to Singapore - via manipulating interest rates, this is part of the reason why both the Hong Kong and Singapore REIT markets have done so well in the past 18 months………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

The Indian real estate sector, once considered a safe high-return option and now battling a slowdown amid stagnating sales, is facing funding problems with overseas investors.
Private equity companies focussed on real estate are finding it tough to raise funds through foreign high net-worth individuals (HNIs) and institutions alike as India-focussed real estate funds falter on returns………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

The Cabinet approved the Land Acquisition Bill, leaving real estate developers and consultants a little apprehensive on the move. They say this would lead to a hike in property prices in the country.
“It is not a good development for the industry. This will definitely increase land cost and housing prices,” Confederation of Real Estate Developers’ Associations of India (CREDAI) National President Lalit Kumar Jain told PTI. If the Bill gets the Parliament’s nod, developers will also hesitate to go for big projects, he added………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

China should enforce new property controls next year to curb speculation and prevent an expected modest recovery in house prices from turning into a steep rebound, a top state think-tank said on Thursday.
The Chinese Academy of Social Sciences called on the government to expand property taxes to more cities and stop developers from getting too much financing by barring them from selling homes before they are built………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

Shanghai sold a downtown commercial plot of land at the highest price this year as a recovery in sales boosted developers’ expectations for a market rebound even as the government maintained property curbs.
The 107,500-square-meter (1.2 million-square-foot) site near Shanghai South Railway station was sold yesterday for 5.4 billion yuan ($864 million), according to the local land reserve center. A group of four companies, led by China Vanke Co., the country’s biggest developer, and Shanghai Greenland Group Co., which is building China’s second-tallest tower, bought the site, said property broker Century 21 China Real Estate………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

Industry experts predict a stellar year for Singapore’s rental market, with a rise in both volume transactions and value in 2012. According to a Q4 brief from Savills, the value of all leasing transactions throughout the first 10 months of 2012 has already surpassed the yearly totals of 2000 through to 2010.
The yearly transaction value of 2011 set a record at S$218 million (US$178,513,799), however 2012 looks set to pass that with the 10 month total of 2012 standing at S$208 million (US$170,324,715)………………………………………..Full Article: Source

Posted on 14 December 2012 by Laxman |  Email |Print

Despite the two-year old property slump, buyers continue to struggle to find homes for less than $500,000 in the inner suburbs of many of Australia’s largest cities. That price threshold, which is more than nine times average yearly earnings, puts housing in the inner parts of Sydney, Melbourne, Darwin and Canberra all but out of reach, new research shows.
The country’s continuing problem with affordability comes despite capital city house values falling 0.4 per cent this year on the back of a 4 per cent decline in 2011, according to RP Data………………………………………..Full Article: Source

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