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Real Estate Briefing 10.Jan 2013

Posted on 10 January 2013 by Laxman |  Email |Print

Wall Street is hitching its bullish hopes for 2013 to an unlikely star, believing that a real estate industry that led the economy into the abyss is what ultimately will carry it back out. While hopes that housing is about to turn a corner aren’t entirely new, the extent to which optimistic stock market forecasts are pinned on the mercurial sector is striking.
“We’re seeing much more evidence of a meaningful recovery in housing,” said Joe LaVorgna, chief U.S. economist at Deutsche Bank. “The (household) balance sheet is better, the housing sector is better, we’re seeing better motor vehicle sales. The cyclical side of the economy, which had looked very weak coming out of the last downturn, looks almost like (it could lead the recovery).”……………………………………….Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

There was a sustained housing recovery and the largest year on year gains seen in nearly two and a half years in the US in 2012, according to a new analysis report from Clear Capital. Its Home Data Index is forecasting continued, yet modest, gains for 2013 and predicting changes in those hard hit, resilient markets like Phoenix, Miami, and Las Vegas.
‘Overall the housing recovery still shows evidence of pushing ahead. National yearly price gains of 4.9% are strong,’ said Alex Villacorta, director of research and analytics at Clear Capital. ‘2013 should be interesting for the housing market, where national gains should continue to see upward growth but likely at a more modest rate………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

Real estate in the United States, it turns out, isn’t really guided by “the invisible hand” of the free market. In truth, federal policy puts a finger on the scale in a major way. Even apart from the quasi-governmental Freddie Mac and Fanny Mae, the federal government is the single largest investor in the American real estate market.
And according to a new report from Smart Growth America, each year an assortment of subsidies, tax credits, and deductions exerts $450 billion worth of influence on the location and character of American residences and commercial spaces………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

Blackstone Group LP (BX), the largest U.S. private real estate owner, accelerated purchases of single- family homes as prices jumped faster than it expected.
Blackstone has spent more than $2.5 billion on 16,000 homes to manage as rentals, deploying capital from the $13.3 billion fund it raised last year, said Jonathan Gray, global head of real estate for the world’s largest private equity firm. That’s up from $1 billion of homes owned in October, when Blackstone Chairman Stephen Schwarzman said the company was spending $100 million a week on houses………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

Looking at the public equity REIT market in the U.S. today, you would be hard put to tell that in 2008 — at the height of the global recession and financial crisis — the market had crashed, and some market analysts questioned whether it could survive.
The market gradually recovered over the 2009–10 period, and in 2011, it returned to robust growth. The total returns of public equity REITs increased more than 8 percent in 2011, compared with about a 2 percent gain for the S&P 500. REITs raised a record $37.5 billion of equity last year — the most since the $32.7 billion of 1997……………………………………….Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

The pace of housing construction fell slightly in December in yet another sign that Canada’s once-hot real estate market may be headed for a soft landing with home sales declining while prices remain stable.
The Canada Mortgage and Housing Corp. said on Wednesday the pace of housing starts fell in December, reaching 197,976 starts compared to the upwardly revised 201,376 in November. The decrease was mainly attributed to a decline in rural starts, while urban starts remained stable, the agency said………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

Housing starts declined for the fourth consecutive month in December, but remained well above sustainable levels, leading to further fears the economically important sector could be headed for a hard landing.
Canada Mortgage and Housing Corp. said Wednesday the pace of housing starts slowed by a modest 1.7 per cent last month to 197,976 on an annual basis, the fourth drop in as many months. On an real basis, CMHC said there were 16,352 actual starts in December, with condo construction falling 4.7 per cent and single-unit dwellings rising by 8.6 per cent………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

Foreign investors have always treated Europe like tourists treat places of interest. That is why residential property in Europe is especially popular among foreigners (especially among those well-off people from the ex-USSR). They like buying apartments and villas in resort coastal areas of Spain , France, Italy and other EU countries. Moreover, residential property gives foreigners more rights in the Schengen Area.
Market Leader and Masterforex-V Academy tried to take a look in the near future of the EU housing market. First, let’s overview the market situation in 2012………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

The price of UK property is predicted to remain stable in 2013. The Bank of England recently cut its growth forecast for this year to around 1% and whilst economists rarely agree on the precise forecasted data, the majority broadly agree with the Bank’s statement that the recovery will be ’slow and protracted’.
Given this downbeat economic backdrop, the site’s market forecast considers what needs to happen to ensure that recovery continues in 2013………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

Owners are adopting fresh tactics in order to sell their homes as another challenging year for the property market begins.
The year is new, young and full of hope. If you are trying to sell your house, the time has come to revise your strategy, think imaginatively and polish your marketing skills. How can you beat the market blues and make your home the most desirable in the area?……………………………………….Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

Italian house prices are likely to fall by between 3% and 5% this year on a national basis, Tecnocasa’s research unit said Wednesday, MF-Dow Jones reported from Milan.
The fall should be milder in northern cities such as Turin and Verona, and sharper in southern towns such as Bari, the Italian real estate agency said. Prices in Rome and Milan should be broadly stable………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

Romanian property could find itself in demand this year, with experts forecasting economic growth for the country throughout 2013. According to the Erste Group Bank Equity Strategy Q1 2013 report, the “country’s fundamentals remain[ed] robust” throughout 2012.
“Conclusive progress” was also noted in the consolidation of public finances, which enabled the government to better finance its deficits………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

Popular expat cities Jakarta and Bangkok are predicted to have property price rises of up to 20 per cent. Residential property prices in Asia look set for another solid year of growth with Jakarta and Bangkok tipped to be the star performers.
International property expert Knight Frank has researched major cities across Asia Pacific, a region that continues to benefit from strong economic growth and rapid urbanisation………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

High property prices, relatively higher mortgage rates and overall weak business sentiment resulted in residential launches declining by 30 per cent in 2012 compared to 7 per cent in 2011 in top six markets of Delhi-NCR, Mumbai, Pune, Bangalore, Hyderabad and Chennai.
This was highlighted in the latest research report by real estate consultancy Knight Frank. Residential housing absorption in these cities also fell by 16 per cent during 2012 against 14 per cent in 2011. Among the top 6 cities, NCR led the residential market in terms of absorption as well as launches for the three-year period between 2010 and 2012………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

China’s housing prices in 100 major cities averaged RMB9,715 per square meter in December 2012, up a marginal 0.03 percent from a year earlier, according to the China Index Academy (CIA).
Prior to December’s modest increase, China’s national property market had failed to record positive year-on-year growth for the previous eight consecutive months – largely due to government-led efforts to keep property prices in check………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

Despite a slowing economy, first time homebuyers were the main market-driver of Shanghai’s residential property markets in 2012, says global real estate consulting firm Jones Lang LaSalle.
Government tightening measures continued in 2012 which included Home Purchase Restrictions (HPRs), which remained firmly in place in Shanghai in 4Q12………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

Xinhua reports that real estate prices in China have been demonstrating an increase over the past seven months. Results of a recent survey announced by Deutsche Bank, Goldman Sachs, Citygroup and other financial organizations confirmed that the recovery going on in China’s real estate market was beyond expectations and in the near future the growth would reach about 5%.
The Chinese Ministry of Housing and Urban-Rural Development announced its readiness for further supervision and control of the real estate market. It is also ready to continue to limit the purchase of housing and toughen up the control of the investment and speculative demand in the country………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

China will have 4,000 shopping malls by 2015, a more than 40 percent increase over the present number, according to the latest report by the China Chain Store and Franchise Association.
The country had 2,812 shopping malls with a construction area of 177 million square meters by the end of 2011, said the 2012 Development Report on Cooperation between China Shopping Malls and Chain Brands, conducted by CCFA and Deloitte Touche Tohmatsu Ltd………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

China will have 4,000 shopping malls by 2015, a more than 40 percent increase over the present number, according to the latest report by the China Chain Store and Franchise Association.
The country had 2,812 shopping malls with a construction area of 177 million square meters by the end of 2011, said the 2012 Development Report on Cooperation between China Shopping Malls and Chain Brands, conducted by CCFA and Deloitte Touche Tohmatsu Ltd………………………………………..Full Article: Source

Posted on 10 January 2013 by Laxman |  Email |Print

The Australian housing market is expected to be among the more stable global markets in 2013 but house prices won’t rise, according to forecasts from credit rating agency Fitch.
Fitch’s most favourable house price outlooks are for Germany, Australia and the US, which is “finally expected to turn a corner in 2013″. “Fitch expects stable house prices [in Australia] in 2013, although some areas may still continue to decline,” says the credit rating agency in its latest Residential Mortgage Briefing………………………………………..Full Article: Source

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