Mon, Sep 22, 2014
A A A
Welcome hendrik.absolut
RSS
Real Estate Briefing 18.Dec 2012

Posted on 18 December 2012 by Laxman |  Email |Print

Home prices finally hit a bottom in 2012, well ahead of many predictions that called for continued price drops this year. Prices were up 6% from one year ago in October, according to CoreLogic, putting them on track for their best year since 2005. Housing starts, which hit a bottom three years ago, ramped up to their highest level in four years.
Sales of new homes are running around 20% of last year’s levels, while existing home sales are up around 10%. Continued declines in homes listed for sale—particularly foreclosures—explain much of the improving price picture……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

Trulia‘s Chief Economist names Houston and San Francisco as the nation’s healthiest housing markets heading into 2013. Why? These two markets have solid fundamentals, without the extreme price swings of Las Vegas, Phoenix, or Detroit.
Along with our take on what’s in and what’s out for housing in 2013, I’ve got my eye on 10 “healthy” housing markets with solid fundamentals. The healthy markets that made the list have strong job growth (Bureau of Labor Statistics), which bodes well for housing demand; low vacancy rates (U.S. Postal Service)–low enough to encourage new construction, but not so low that inventory and sales are restrained; and low foreclosure inventory (RealtyTrac), since foreclosures tend to hold back recovery……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

To compile this list, we teamed up with Local Market Monitor and dug down into data for more than 300 U.S. metro areas (metropolitan statistical areas and metropolitan divisions, as defined by the Office of Management and Budget). LMM assessed Federal Housing Finance Agency price data from October 2011 through September 2012 and then calculated 12-month price projections through September of 2013.
For the projections, LMM took into account local economic indicators like job growth, unemployment rates and population growth to help determine the rate of buyer interest versus inventory level – a supply-demand relationship that contributes to price movement……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

For much of the last year, the housing market has generally been on a slow but steady path toward improvement, and that trend continued in November. A number of federal initiatives to make consumers struggling in the housing market more financially capable seem to be working, according to the latest housing scorecard from the U.S. Department of Housing and Urban Development.
For instance, in the month of November alone, federal initiatives such as the Home Affordable Modification Program helped 13,400 Americans obtain trial modifications for the terms of their home loans, which is down from the 15,200 who received them in the previous month. Another 16,000 received permanent modifications, though, and that was up from 13,800 the month before……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

The political ping-pong in Washington has once again impeded any resolution leading to certainty regarding fiscal policy, and therefore continues to limit the potential of the labor market recovery. As a result, household formation rates remain below potential and continue to act as a drag on the nascent housing recovery and consumer spending. However, despite the leadership deficit and its economic consequences, there is no denying it — a long-term expansion in housing is taking hold.
First and foremost, even at current, below-trend household formation rates, the inventory of vacant housing units will be reduced to pre-crisis levels over the next three years even if housing starts continue to grow at double-digit rates…………………………………….Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

Economists still see a soft landing for Canadian real estate as the market continues to cool. Sales plunged 11.9 per cent in November from a year earlier, slipping 1.7 per cent from October. Those numbers, released today by the Canadian Real Estate Association, prompted the group to cut its sales forecast for this year and next.
While prices are still relatively firm compared to sales, CREA said the national average slipped 0.8 per cent in November from a year earlier. The MLS home price index, which factors in changes in the types of homes sold, rose 3.5 per cent, though that’s the weakest increase since May of 2011……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

The Blackstone Group has raised a dedicated $4 billion European real estate fund; David Abrams, head of European real estate investment for Apollo Global Management, says his firm has made 30 investments this year in the U.K., Germany, Ireland, and Spain; the Carlyle Group is buying mainly in Northern Europe, which includes Sweden, Norway, Germany, France, and especially the U.K. — isn’t Europe supposed to be shaky ground in which to invest? What gives?
Well, there are deals to be had. European banks, bloated with real estate, have been looking to dump their holdings — the International Monetary Fund estimates that 58 European banks will sell at least $2 trillion in assets over the next two years……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

For the most part, UK house prices remained stable in 2012 with any small falls negated by small rises. In 2013, the experts are predicting more of the same. “House prices generally will be subject to wider economic concerns and consumer sentiment,” says Jane Harrison, a director at London & Country mortgage brokers. “Falling inflation and some growth in the economy - even if weak - should help that, so we’d expect prices to be flat or see modest growth in 2013, but with significant regional variation.”
Adrian Anderson, director of property finance specialist Anderson Harris, also expects the North/South divide to become more apparent. “It looks set to deepen,” he says. “London and the South East seem to be completely detached from the rest of the country.”…………………………………….Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

More than one in four wannabe first time buyers say that it will take them 10 years or more to raise the necessary deposit to buy a property, according to the Building Societies Association.
But 26% of potential buyers surveyed at the end of 2012 believe that they can raise a deposit in three years or less. This is in stark comparison to the 69% who said they did this before the start of the credit crunch in 2008, says the BSA……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

An improved and more balanced housing market will emerge in 2013 with less of a London skew, despite sellers slashing their asking prices this month in the biggest fall seen for more than a decade, property search website Rightmove said.
Increased competition among mortgage lenders and a continued shortage of homes to choose from will help to push asking prices up by 2% across England and Wales next year, Rightmove said……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

British homeowners will have to wait a long time before they recoup losses from the last few years on their properties as a weak economy and high unemployment keeps demand in check, a Reuters poll showed. London house prices, however, will continue to outperform as the capital keeps drawing strong demand from overseas investors.
The poll of 28 market watchers, taken in the past week, predicted that UK house prices would rise 0.6 percent in 2013, having dropped by the same amount this year. A 2.0 percent rise was forecast for 2014, medians showed……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

Azerbaijan bought a central London office block for 177 million pounds ($286 million), its debut property deal in Europe that underlines the safe investment appeal of the continent’s top real estate.
The country’s $33 billion state oil fund bought the 188,600 square foot building in the upmarket St James’s district from RREEF Real Estate, the property arm of Deutsche Bank, the German bank said on Monday. The building, which is let to banking group HSBC until 2023, gives an investment yield of about 5.4 percent……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

Real estate prices in Tel Aviv increased 71% between 2000 and 2011 after adjusting for inflation, while rises elsewhere were much lower - and there were even some decreases. According to a report by the IDC Herzliya’s Gazit Globe Real Estate Institute, a main reason was a lack of new homes planned for the Tel Aviv region relative to the population.
The report’s findings will be presented tomorrow at an IDC conference called “How to burst the real estate bubble.” The report was put together by Prof. Zvi Eckstein, dean of the IDC School of Economics; Dr. Efrat Tolkowsky, head of the Gazit Globe institute; and research assistant Nitzan Tzur……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

Dubai’s property market will grow at a steadier and more stable pace over the next year, providing solid investment opportunities for the savvy investor, says leading executives in the industry.
Independent reports have put the growth in prices of real estate in Dubai through 2012 at anywhere from 7-19 percent, depending on location and the quality of the project. Ziad Al Chaar, DAMAC Properties Managing Director, says that growth is sustainable in the near future, if you know where to look: “2012 has delivered on our predictions at the start of the year - prices in the Dubai market steadily grew with each quarter outperforming the last. In 2013 buyers will definitely be able to benefit from this capital growth, but will need to be very savvy about where they invest and in which projects in each area.” (Press Release)

Posted on 18 December 2012 by Laxman |  Email |Print

The real estate market of the country is expected to pick up in 2013. According to a report released by property consultant, Knight Frank India, the realty market will improve due to the change in policy and regulatory environment, which is likely to create a positive impact on the sector.
The coming year 2013 may change the face for real estate sector if Parliament passes regulation and land acquisition bill, which is expected to enhance the market sentiment. Also, the demand for commercial real estate segment will increase with the approval of foreign investments in multi brand retail in India, said Knight Frank……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

China’s home prices may rise 3 to 5 percent next year, given a stable real estate policy, JP Morgan said. “As the housing market gradually stabilizes and the government continues the existing property tightening measures, we expect that national house prices will increase modestly by 3-5 percent in 2013,” said Zhu Haibin, an economist with JP Morgan. “A strong rebound or sharp decline in house prices is unlikely in the near term.”
Property tax, which was introduced in Shanghai and Chongqing, is likely to be expanded to other cities in the second half of 2013, but the impact on the housing market will be limited, the research note said……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

As one of the mostly densely-populated cities in the world, Hong Kong apartments are famously small and wildly expensive – an influx of buyers from mainland China has seen house prices skyrocket.
News late last month that an individual car parking space has sold for HK$1.3 million (€130,000) raised barely an eyebrow in a territory increasingly resigned to hair-raising stories from the world of real estate. This treasured parking spot was located in the New Territories area, Hong Kong’s hinterland, not even downtown……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

Singapore’s clampdown on home loans is showing some signs of success, as sales of new private homes fell to their lowest level so far this year in November. Regulators in the city-state tightened rules on new home loans in October in a bid to stabilize prices that have been on the march since the global financial crisis, despite repeated government interventions.
Sales of new private residential units fell to 1,087 units in November, down 44% from October, according to data from the Urban Redevelopment Authority. October’s tally was 26% lower than the previous month’s……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

Prices within the secondary property market are likely to stagnate or rise only marginally next year in Malaysia, the Malaysian Institute of Estate Agents (MIEA) announced. “Prices may stagnate but it won’t drop in 2013,” MIEA president Nixon Paul said.
Nixon added many sellers had the holding power and would only sell if potential buyers could meet their price and that sellers don’t have any urgency to sell at the moment……………………………………..Full Article: Source

Posted on 18 December 2012 by Laxman |  Email |Print

Prospects for Melbourne property in 2013 are grim. I expect Melbourne to be the weakest of the capital markets market next year. But fortunately there’s more to Victoria than Melbourne.
Melbourne has two problems: oversupply and a state government that’s lost the plot. Melbourne already has too many apartments in its inner-city market, but developers are intent on building more, and the state government seems hell-bent on helping them……………………………………..Full Article: Source

See more articles in the archive

banner
September 2014
M T W T F S S
« May    
1234567
891011121314
15161718192021
22232425262728
2930