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Real Estate Briefing 04.Jan 2013

Posted on 04 January 2013 by Laxman |  Email |Print

In stark contrast to this time last year, the housing market is chugging into 2013 with a head of steam. Home-listing prices were up 5.1% nationally in December on a year-over-year basis, according to data released Thursday by real-estate listings and data company Trulia.
Out of the 100 major metro markets covered by the report, 82 of them saw year-over-year gains. At the end of 2011, asking prices had fallen 4.3%, and only 12 markets had posted positive price changes. “Prices are going into 2013 with strong tailwinds,” said Jed Kolko, chief economist for Trulia. He cites a general strengthening of the job market, which in turn means more families able to cover a sizeable down payment………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

Underlying challenges still arise from the U.S. housing market believed to be scampering towards growth since the last quarter of 2012. The bullish sentiment continues with the recent results of the S&P/Case-Shiller index of property values rising 4.3% from October 2011.
This is the highest recorded gain in the S&P/Case-Shiller index since 2010 and indicative of property values across 20 states………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

There was so much excitement over Wednesday’s huge rally that it’s understandable that people missed the market’s renewed bet on housing. Homebuilding shares were higher. So were Home Depot, Lowe’s, Whirlpool and Stanley Black & Decker. The gains might have surprised investors figuring anything housing related might be ready for a fall.
The Philadelphia Housing Sector Index climbed 5.82 to 177.11 on Wednesday. The index, which tracks homebuilders, building materials companies and the like, soared 66.4% in 2012 and is up 218% from its bottom in March 2009……………………………………….Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

American house prices could rise up to 5% in 2013, says a top industry association economist. The comments from Lawrence Yun, chief economist with the National Association of Realtors, came as November 2012’s showed a 9.8% year-on-year rise.
The figures from the forward-looking Pending Home Sales Index rose 1.7% to 106.4 in November from 104.6 in October. The data reflect contracts signings but not closings. For each of last 19 months the year-on-year figures have risen and the index has reached the highest level since April 2010, were boosted by changes in household formations, says Mr Yun………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

Asking home prices increased the most in Phoenix, which rose 26.0 percent Y-o-Y in December 2012; however, Las Vegas and Seattle experienced the year’s most dramatic price turnarounds. Both had price gains of more than 10 percent in 2012 after declines of more than 10 percent in 2011.
Overall, 2012 marked a huge turnaround year for most local housing markets. In fact, prices rose in 82 of the 100 largest metros at the end of December, compared with just 12 out of 100 in 2011………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

More than most sectors, commercial real estate could do with a fresh start this New Year. The figures for December are not out yet, but property values fell 3.9 per cent in the first 11 months of 2012, according to the closely-watched IPD benchmark.
But even if the wind does not change - and consensus forecasts suggest it won’t - there’s a way to invest in property that spares you the pain of valuation write-downs: lend against it………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

House prices dropped by 1pc in 2012, reversing a 1pc increase the year before, and are likely to remain flat or edge lower still during 2013, Nationwide said.The building society said that the average property was valued at £162,262 at the end of 2012, following a 0.1pc month-on-month drop in December.
Nationwide predicted that activity in the housing market is set to remain subdued this year amid the difficult economy, with prices at similar levels or drifting “modestly lower” over 2013………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

Property prices are resilient and mortgage credit is on the up – but there are reasons to be cautious. All things considered, house prices proved remarkably resilient during 2012. The Nationwide building society has reported that prices fell by 1% during the year, but given that the UK suffered its first double-dip recession since the 1970s, the fall could have been a lot bigger.
A number of factors explain why the cost of property stagnated. Rising employment, low mortgage rates and the leniency of lenders towards those in arrears meant there were few forced sellers………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

In Vienna, demand for real estate remains high. On average, the property price was up by 11.7% to € 3.981 per square meter. The average rent was up by 9.8% to € 14.45 per square meter. This was published by the real estate supplier FindMyHome.at.
This year, the situation is expected to remain unchanged. “The high demand for property as safe haven and the relatively low property prices in Vienna will influence the price development in 2013” Bernd Gabel-Hlawa and Benedikt Gabriel at FindMyHome.at explain………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

RR de Acuna & Asociados expects home prices in Madrid, Barcelona and other major Spanish cities to fall a further 30pc in a relentless slide until 2018, but it may be even worse in sunbelt regions where thousands of Irish people either live or own homes.
Fresh losses could reach 50pc and drag on for 10 to 15 years in those places where construction ran wild during the bubble, bringing the total decline from peak to trough towards 75pc………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

Residential property prices and rents in Portugal are continuing to fall due to very weak demand, according to the latest housing market survey from the Royal Institution of Chartered Surveyors and Confidencial Immobiliario.
The index, which covers Lisbon, Porto and the Algarve, highlights the broad based weakness of the property sales markets alongside what appears to be the first signs of a slowdown in the lettings sector………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

Expats dreaming of owning their own home in the UAE woke to depressing news this week as it was reported that the UAE’s Central Bank has directed banks to cap mortgages for expats at 50 per cent on a first property or 40 per cent on a second.
To date, it’s been possible to get mortgages of up to 80 per cent – or even 100 per cent on a TDIC property in Abu Dhabi – and it’s thought the new ruling will apply even to pre-approved mortgages that have not yet gone through………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

For those looking to tap into India’s real estate market, the emerging cities across the nation certainly are making ripples through the industry. From the traditional approach to Delhi and Mumbai, other cities and metropolises are merging as places where one could get sizeable returns on investments, mainly owing to the increased supply of new working talent, and a consequent supply of real estate space.
Bangalore, Hyderabad, Chennai, Pune, and Gurgaon have taken lead positions in attracting new talent, fuelling business growth in the cities, which in turn have pushed up the demand and prices for new real estate………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

A pick-up is unlikely in the short term after residential transactions plunge 53 per cent in December and total value slumps 59 per cent. Home sales fell last month to their lowest level since late 2008, at the start of the global financial crisis, indicating government measures have succeeded in curbing demand.
The number of residential transactions plunged 53.3 per cent to 3,286 from November, while the total consideration tumbled 59.1 per cent to HK$17.2 billon, data released by the Land Registry yesterday showed………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

In 2010, China rolled out policies restricting home purchases in a bid to dampen prices in the country’s real estate market. But with 2013 now upon us, many have voiced concern about the continuation of these policies into a new year.
Generally speaking, there are two ways the government can drive down home prices: bring down construction expenses for property developers or deflate demand in the market………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

Sluggish economic growth and six rounds of property cooling measures over the past three years, yet Singapore home prices remained on the boil in 2012. That can only mean one thing, say analysts: fresh curbs to cool the housing market in the months ahead.
Private home prices in Asia’s financial hub, ranked as one of the world’s most expensive cities to live in, climbed 2.8 percent last year, according to flash estimates by the city’s Urban Redevelopment Authority (URA), after a 1.8 percent rise in the final quarter of 2012 – the fastest pace since the second quarter of 2011………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

After Hong Kong’s alleged housing sector growth, prices of residential properties in Singapore have risen tremendously in the past few months. According to the fourth quarter reports, prices of residential estates went up by 1.8 percent in the final quarter.
The rise in the percentage was a record-breaking hike of 1.8 percent to 211.9 points. Even in the third quarter, the prices experienced a slight 0.6 hike, reported Xinhuanet………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

CapitaLand Ltd.will review its Australian investments and leave some businesses in India, London and the Middle East as part of a corporate overhaul.
Southeast Asia’s largest property developer by market value no longer considers Australia a core market, its chief executive officer said Thursday. The strategic review of Australand Property Group comes as some Australian rivals are eyeing the unit’s assets………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

Real estate developers in Vietnam are able to breathe easier after relevant ministries agreed to pump money into the country’s frozen real estate market, VietNam Net reported.
The State Bank of Vietnam has promised to slash the interest rates to make it easier for real estate developers and house buyers to access bank loans, the website reported………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

The commercial property market is likely to remain sluggish in the coming months as tightened investment thresholds continue to sideline life insurance companies which accounted for more than 60 percent of deals last year, analysts said yesterday.
Commercial property transactions totaled NT$106.9 billion (US$3.68 billion) last year, down 16 percent from NT$129.3 billion in 2011, as major players pulled out after the Financial Supervisory Commission (FSC) in November raised the minimum rental yield on real-estate investments by life insurers from 2.125 percent to 2.875 percent, according to Colliers International Taiwan Ltd……………………………………….Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

The number of property transfers in Taipei City in 2012 significantly decreased after the government introduced several property price curbing measures including a property price registration mechanism and a luxury tax, according to data released by the Taipei City government on Wednesday.
The data showed that merely 38,571 properties in the capital city exchanged hands during the year, marking the lowest level since 2003 when there was a SARS outbreak in Taiwan………………………………………..Full Article: Source

Posted on 04 January 2013 by Laxman |  Email |Print

The new year starts with even fewer properties for sale, and a somewhat surprising easing in asking prices, according to the December NZ Property Report from realestate.co.nz.
Auckland, Waikato and Otago were most affected by low inventory levels, with stocks of unsold homes falling to a new record lows of 13.9 weeks of inventory in Auckland, 31.5 weeks in Waikato, and 20.4 weeks in Otago, each well below their long term inventory levels. Inventory levels across the country remain low and the market remains a firms sellers market across 16 of NZ’s 19 regions in the survey………………………………………..Full Article: Source

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