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Real Estate Briefing 22.Jan 2013

Posted on 22 January 2013 by Laxman |  Email |Print

Major real estate investors are buying fewer homes in some hot markets while expanding in others as they race against rising prices to turn more distressed homes into rentals. Phoenix, which has led the nation with rapid home-price gains, is among the first markets to see investors’ interest cool.
The percentage of Phoenix homes bought by investors fell to 28% in November after cresting at almost 36% in August and is now on a “clear downward” trend says Mike Orr, real estate expert at the W.P. Carey School of Business at Arizona State University……………………………………….Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

It was extremely difficult times for homeowners following the subprime mortgage implosion that helped to drag down the global economy in 2008. I recall how easy it was to get a mortgage without even having to provide an income or work history to the lenders. When an entry-level worker at McDonalds Corporation can get a mortgage with no questions asked, you have to wonder how long it might be before a housing bubble surfaces.
Luckily, after several years of the housing market being dragged through the mud, the current situation has vastly improved to the point where housing stocks are hot………………………………………..Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

A recent survey shows that confidence in a stronger real estate market in 2013 is growing among US real estate professionals and homebuyers. Real estate agents in particular expect a more upbeat real estate market in 2013 while a high 71% of those surveyed predicted that home prices will go up or remain at the same level in 2013. The study also revealed that New Yorkers and Californians appreciate the recovery slightly differently.
Home sale prices and sales volume are expected to rise: Almost 1,500 homebuyers and real estate professionals nationwide were surveyed in December 2012 on a number of aspects concerning the real estate market in 2013: sale prices, volumes and inventories evolution, and also the factors that will drive the market.(Press Release)

Posted on 22 January 2013 by Laxman |  Email |Print

Vancouver has again ranked second in an international listing of the world’s most unaffordable markets, but the city’s affordability has improved while Toronto’s worsened.
The ranking comes from Demographia, a U.S.-based urban policy consulting firm that opposes government policies containing urban sprawl (such as smart growth and densification plans), and argues that they lead to higher house prices by decreasing the supply of land. It released its ninth annual international housing affordability survey on Monday, which compares markets in Canada, Australia, Hong Kong, Ireland, New Zealand, the U.K. and the U.S. based on data up to September, 2012………………………………………..Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

German cities dominate the investment prospects for Europe’s commercial real estate sector as investors continue to favour safe haven locations according to a new report.
The Emerging Trends in Real Estate Europe 2013, a real estate forecast published jointly by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC) ranks 27 cities across Europe, based on respondents’ expectations for market performance in 2013………………………………………..Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

Jones Lang LaSalle reports that retail real estate investment was strong in Q4 2012 lifting full year investment to €19.4 billion; the top end of our €18-20 billion forecast.
Direct investment in retail real estate for Q4 2012 is €7.6 billion compared with € 8.5 billion in Q4 2011, down 11%. Full year volumes are estimated at €19.4 billion, in comparison with €31.3 billion in 2011, approaching the five year average of €23.7 billion………………………………………..Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

Sellers entering the property market this month raised their average asking prices by 0.2 per cent (£440), according to new statistics from Rightmove. New seller prices are also up by 2.4 per cent (£5,369) year-on-year.
“:Sensible pricing will help buyer affordability,” said Miles Shipside, director and housing market analyst at Rightmove, “one of the factors needed to help warm up the market and encourage a recovery from the credit-crunch freeze in transaction volumes………………………………………..Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

House prices will reach and surpass their pre-crisis peak next year. The claim is published in a report today by economic forecaster CEBR which says a typical house price will top £223,000 in 2014.
The quarterly Housing Prospects report also predicts that the average home price – based on figures published by the Office of National Statistics - will climb to £219,000 this year, 0.8 per cent higher than in 2012………………………………………..Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

10) North East: South Tyneside:North East England includes up-and-coming cities such as Newcastle, as well as the popular university city of Durham. But it’s South Tyneside, home to towns such as South Shields (pictured), that’s expected to see the biggest rise in house prices.
9) Yorkshire and the Humber: York : Historic York is expected to see the most growth in house prices in Yorkshire and the Humber……………………………………….Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

Investors will continue to head for German safe-haven cities in 2013, according to the annual Emerging Trends in Real Estate report. Munich, Berlin and Hamburg all feature in the top 5 cities for existing property investments as investors search for dependable locations that can withstand economic turbulence.
The report, a real estate forecast published jointly by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC), ranks Munich top of the league table followed closely by Berlin in second place and Hamburg in fifth position………………………………………..Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

French investment market hits €16.8 billion in 2012, reflecting 4.5% annual increase according to Savills, €16.8 billion of investment transactions were completed in France during 2012, marking a year-on-year growth of 4.5% and coming in above the 10-year average of €14.2 billion.
The international real estate advisor attributes this unexpected rise primarily to the return of transactions above €100 million, partly due to an increase in the number of portfolio sales, from 14% to 36% year-on-year. The firm’s data records 46 deals over €100 million in 2012, against 40 in 2011………………………………………..Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

When the property market struggles, the marketing spin has a tendency to rise exponentially. Take this recent example about the sale of a “big format unit”:
“Cushman & Wakefield, the world’s largest privately-held commercial real estate services firm, has secured 200 sq m premium retail space for Skiny, the well-known, originally Austrian underwear retailer, at Market Central Ferihegy on behalf of the owner AIG/Lincoln.”……………………………………….Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

Average rental rates for residential property in Dubai increased 17 percent last year while villa rentals rose 14 percent following a rebound in the emirate’s real estate sector, according to a new report.
The rise in property prices has helped spur a number of developers to launch off-plan properties but speculative buyers could be a concern, real estate consultants CB Richard Ellis (CBRE) said in its quarterly review of the Dubai property market………………………………………..Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

The City of Pearls has emerged as the most affordable realty market among Indian metros thanks to a slew of affordable housing projects that mushroomed in the city in the aftermath of the 2008 global meltdown and the T-turmoil, according to a study done by global realty consultancy firm Knight Frank.
What’s more, enablers like the new GO 245 (relaxation of mandatory EWS/LIG housing norms) and upcoming projects like Hyderabad metro rail will continue to speed up the demand for realty projects in the city………………………………………..Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

Abu Dhabi’s property market “remains 18-24 months behind Dubai and is not expected to to experience an upturn in 2013″, according to Jones Lang LaSalle’s MENA region CEO Alan Robertson.
According to the firm’s latest report on the market, the property sector in Abu Dhabi remains “heavily reliant on the Government investing revenue surpluses” in infrastructure and economic development projects in order to stimulate private sector jobs growth and demand for property………………………………………..Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

Australia still has the most unaffordable housing markets in the world despite two years’ of stagnant or falling house prices, according to the latest Demographia International Housing Affordability Survey.
Ahead of New Zealand, United Kingdom, Ireland and Canada, Australia has the largest number of housing markets, including both Melbourne and Sydney, that are classified as ‘‘severely or seriously unaffordable,’’ the ninth annual survey of its kind reveals………………………………………..Full Article: Source

Posted on 22 January 2013 by Laxman |  Email |Print

Australia still has among the most unaffordable housing markets in the world, according to the 9th Demographia International Housing Affordability Survey. It ranked third to Hong Kong and Canada.
The last time Australia’s housing markets were classified affordable was back in the 1980s with no affordable locations found this time among the 39 chosen Australian locations. Even regional locations were dubbed as unaffordable including Port Macquarie, Coffs Harbour, the Sunshine Coast, Shepparton and Mildura, according to the US-based property forum………………………………………..Full Article: Source

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