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Real Estate Briefing 15.Jan 2013

Posted on 15 January 2013 by Laxman |  Email |Print

A measure of U.S. home prices rose in 2012 by the most in six years, buoyed by stronger demand, a lower inventory of unsold homes and fewer sales of bank-owned properties.
Real estate data provider CoreLogic says its home price index, which is based on repeat sales of the same properties, climbed 7.5 percent last year. That’s the biggest annual increase since 2006. CoreLogic forecasts that home prices will rise 6 percent nationally this year………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

“One of the more positive developments arising from the uncertainty of the past few years has been the lack of willingness and/or funding to build property. Looming shortages globally are driving property company share prices higher, while the property sector continues to benefit from sustained low interest rates and inflation.
“With central banks around the world flooding the market with capital and Asian markets already awash with liquidity, the property markets are well supported despite the sluggish economic backdrop. Moreover, high-quality property companies have access to debt capital at historically cheap levels. This environment is supportive of material gains from the property sector in 2013.”……………………………………….Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

While the sluggish U.S. economy crept upward in 2012, the housing market improved at a much faster rate than anyone expected. Total home sales increased 6.3 percent in 2012, the largest increase since 2006. Overall, 4.2 million homes sold – inching closer to the average of 5.5 million a year the country experienced before the crash.
At the beginning of 2012, many experts thought the opposite would happen — with so many foreclosures on the books and properties still underwater, many anticipated home prices would fall or remain stagnant………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

Managing Director & Chairman of the S&P Index Committee, David Blitzer gives his thoughts on the US Real Estate and Property Market for 2013. In this video, David discusses how housing might add to economic growth in 2013 and what could potentially stall a recovery, factors contributing to explosive growth in certain MSA’s, and whether or not we might see more first time homebuyers enter the market in 2013.……………………………………….Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

One thing Argentines will be looking to put far behind them as the New Year begins is last year’s real estate sector performance. According to a recent report, real estate activity in 2012 fell approximately 40%, making it one of the sector’s worst performing years in the country in a decade. For transactions related to properties already on the market, activity plummeted nearly 80%.
One reason for the slowdown is that economic growth in Argentina has stalled. After expanding at a reported rate of nearly 9% in 2011, economic growth for 2012 is expected to amount to less than half of that………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

According to Cushman & Wakefield investment activity in the core Central European markets of Poland, Czech, Slovakia, Hungary and Romania increased significantly in Q4 2012 to €1,826 million, almost matching 2007 levels, and ahead of the €536 million invested in Q3 2012.
Overall, €3.71 billion was invested in the core CE markets in 2012, accounting for just 59% of the previous year’s record €6.29 billion, but some 25% ahead of 2010………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

An index of U.K. house prices rose to the highest in 2 1/2 years last month as measures to boost credit lifted optimism at real-estate agents about the outlook, the Royal Institution of Chartered Surveyors said.
The price gauge advanced to zero from minus 9 in November, London-based RICS said in an e-mailed report today, citing a monthly poll of property surveyors. Its the first time since June 2010 that the measure hasn’t been below zero. A gauge of sales expectations for the next three months also rose………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

The Royal Institution of Chartered Surveyors (RICS) has said ‘we are over the very worst’ of the house price slump and is predicting house prices to rise in 2013.
RICS reported that last month 24% more surveyors across the country predicted property transactions to rise than fall over the next three months. This confident outlook is matched by a belief that some parts of the country may be over the worst of the property slump……………………………………….Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

Spanish house prices could drop by a further 50% and may not recover for the next 15 years, according to experts. The Costa del Sol is among the worst affected areas in the country, with the total fall in values predicted to be as much as 75% in some areas.
There are 800,000 used homes on the Spanish property market, with another 300,000 having been foreclosed by the banks and a further 150,000 in foreclosure proceedings………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

In 2012 the growth of real estate market was slower than in the previous year. Prices in housing market were hinting to steady and plain future rather than the increase.
According to the Registers Centre, the growth of real estate market was mainly fuelled by active trade in land. It always makes around half of the real estate transactions. Last year it reached new heights, nearly 56% of all real estate sales were sales of land………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

Growing housing stock caused by Moscow’s territorial expansion resulted in the city seeing an increase in the number of deals involving existing residential properties last year, analysts said Monday.
The number of sold and purchased properties increased by 6 percent in 2012 year-on-year to 96,600 items, according to the Federal Service for State Registration, Cadaster and Cartography. This growth rate is likely to continue this year unless there’s a negative effect from the volatility on external markets facing the debt crisis, analysts said………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

The Egyptian real estate market is thriving despite the country’s overall economic situation, officials and experts told Al-Shorfa. They attributed this vitality in part to the growing need for housing as the population expands, adding that some developers also are hurrying to finish projects before the new tax law takes effect.
Construction activity has risen by 60% at the end of 2012 in comparison with the same period in 2011, said Maged Omran of the Ministry of Housing’s technical inspection division………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

According to global real estate consulting firm Jones Lang LaSalle (JLL), India’s property markets closed 2012 with a few notes of positivity as the inflation was below the Reserve Bank of India’s (RBI’s) projected levels and the Index of Industrial Production (IIP) growth increased in the last two months of the year, giving new hopes for 2013. Overall, 2012 remained inactive, affecting all the major sectors in real estate.
Office space absorption remained lower compared with 2011. Meanwhile, retail faced challenges of quality supply, affecting the overall absorption. The residential demand improved; however, developers continued to struggle with unsold inventories, yet expect moderation in inflation and strengthening policies………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

Expatriates in the United Arab Emirates will have to make down payments of at least half the value of properties they buy if new central bank rules on mortgages go into force. This may dampen demand from foreign buyers and stifle the country’s tentative real estate recovery.
There is currently no limit on how much of a property’s value an expatriate in the U.A.E. can borrow when taking out a mortgage, a factor bankers say has helped boost demand for real estate through good times and bad………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

China may not expand experimental property taxes to more cities in the near future because of inadequate planning and law making, local media reported on Monday.
The government is conducting “active research” on a plan to expand the property tax trials currently in place in Shanghai and Chongqing to other Chinese cities, but it has proved difficult to hammer out a scheme for doing so, the Economic Information Daily quoted a tax official as saying………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

Shanghai’s housing bubble took a deep and hefty breath last week as sales prices rose 17.3 percent in one of China’s richest cities.
New home sales hit 264,200 square meters in a week with average prices stable to declining, coming in at 20,677 yuan ($3,282) per square meter, Shanghai Deovolente Realty Co said. (That’s still cheaper than comparable American cities. A 1,200 square foot apartment in Shanghai will run you under $400,000. Try finding that in New York or Boston.)……………………………………….Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

Singapore has moved to curb its red-hot property market, hitting the share prices of its major property firms. Shares of CapitaLand fell almost 6%, Keppel Land fell 7.5% and City Developments fell 7.3% in early trading.
Authorities have introduced higher taxes on industrial as well as residential property. Prices have continued to rise despite a weak economy and previous government efforts to bring them down………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

Apartment ownership is on the rise as the Great Australian Dream of a house in the suburbs fades for buyers priced out of the market. Apartments and townhouses accounted for 35 percent of new housing construction in the three months ended in Sept. 30, compared with 29 percent five years earlier and 21 percent 20 years ago, according to the federal statistics bureau.
About 13.7 percent of Australians lived in their own apartments and townhouses according to the 2011 census, compared with 12.4 percent in 2006………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

First-home buyers are rapidly retreating from the property market in spite of the Reserve Bank’s rate-cutting campaign, new figures show. The proportion of home loans that are issued to first-time buyers has fallen to its lowest level in more than eight years.
It comes as separate figures show the average credit card balance fell by a record 2.3 per cent over the year to November as consumers continue to wean themselves off debt………………………………………..Full Article: Source

Posted on 15 January 2013 by Laxman |  Email |Print

The national median house price reached a new record of $389,000 in December, up almost 10% on December 2011. Ongoing strong demand drove robust sales volume growth in the residential property market during 2012 with the number of sales up 21 per cent on 2011 and at the highest level since 2007.
The Chief Executive of the Real Estate Institute of New Zealand (REINZ), Helen O’Sullivan, says that despite the strong growth in sales volume, the number of sales compared to the total number of dwellings in New Zealand remains well below the long run average and substantially below the peak volume of 2003 when more than 120,000 residential properties were sold.74,000 houses sold during 2012, a 21% increase on 2011 and the highest annual total since 2007 (Press Release)

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