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Real Estate Briefing 24.Jan 2013

Posted on 24 January 2013 by Laxman |  Email |Print

U.S. home prices climbed 5.6 percent in the 12 months through November as buyers competed for a dwindling inventory of properties, according to the Federal Housing Finance Agency.
Prices rose 0.6 percent from October on a seasonally adjusted basis, the FHFA said today in a report from Washington. The average estimate of 15 economists in a Bloomberg survey was for a 0.7 percent advance. The index is 15 percent below its April 2007 peak and about the same as the August 2004 level………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

Construction starts leaped to a 54-month high in December. Starts were at a 954,000 annualized rate, up 12% month-over-month and up 37% year-over-year. That’s the highest level since June 2008. Looking at all of 2012, starts were up 28% compared with 2011, led by construction in Texas and the Carolinas and by a rebound in multi-unit building construction. Construction starts are now 47% of the way back to normal.
Existing home sales slipped slightly in December. Sales dropped 1% to 4.94 million — still the second-highest level since November 2009. That puts sales 68% back to normal. Year-over-year, sales were up 13%………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

Luxury real estate is making a comeback throughout the country, and some of the hottest markets have a lot more in common than solely an expensive price tag — from thriving and diverse economies to historical significance, a multitude of colleges and hot spots, and great weather (at least for part of the year).
Here’s a glimpse at some of top places to find the finest amenities homes have to offer………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

Crime rates inched slightly higher in 2011. Here are the cities that reported the highest rates of murder, rape, robbery, assault, burglary and car theft, according to CQ Press’ annual analysis of FBI data.
Detroit: Motor City claimed the top spot for highest overall crime rate among cities with 250,000 or more residents, according to CQ Press’ annual analysis of FBI data for 2011. With 342 murders in 2011, Detroit trailed only New Orleans in terms of homicide rate. And the city reported the highest rate of assaults out of any other major city………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

Last year was certainly stellar for the real estate market. Homebuilders like KB Home, PulteGroup, Lennar and Hovnanian Enterprises saw their share prices more than double.
And it looks like the good times will continue. Consider that during the first nine months of 2012, housing permits spiked by 32%, and the median single-family home price rose about 6%. During this time, the growth in sales of new homes increased 23%, versus 8% for existing homes………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

The Teranet-National Bank index of Canadian housing prices continues to show effects from cooler demand for residential properties in most big markets. The December price index was up 3.1 per cent in 2012 — the lowest increase in three years.
On a month-to-month basis, the index was down 0.4 per cent from November — marking one of the weakest Decembers on record going back 13 years………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

Canada’s housing market has been showing signs of cooling lately, but according to the Economist it is still the most overheated in the world.
Overvaluation in Canada comes in at a whopping 78%, by the Economist‘s price-to-rents ratio, the weekly newspaper said in its survey on the global housing market. At the other end of the scale is Japan with an undervaluation of 37%. The Economist writes:……………………………………….Full Article: Source

Posted on 24 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 their €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 24 January 2013 by Laxman |  Email |Print

UK house sales increased last year to the highest levels seen since 2007, according to figures published by HM Revenue & Customs. Lenders hailed the figures as evidence that the “shutters are coming up” for mortgage borrowers.
There were 932,000 completed transactions last year, marking a 5pc increase on 2011, according to HMRC. Meanwhile, the Council of Mortgage Lenders (CML) outlined evidence of why it believes the mortgage market is improving………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

House sales across Yorkshire and the Humber look set to continue to increase after chartered surveyors’ expectations for the coming three months rose significantly. That’s according to the latest RICS housing market survey which found that 22% more surveyors in the region predicted last month that transactions were to rise rather than fall over the next quarter.
Prices also held steady during December, the research found. Surveyors continued to report a fall in prices, however the overall trend across the region showed moderate improvement………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

A senior economist has questioned the credibility of the Central Statistics Office’s house price statistics, and said the decline in house values is much higher than the CSO estimates. Conall MacCoille, chief economist with Davy, said the launch of the national property price register “has added to the evidence that the CSO index is increasingly unrepresentative of true market conditions”.
The latest CSO house price index shows that, after an increase of 1.1% in November, residential prices fell 0.5% in December………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

Germany’s real estate sector is still considered as a safe haven of investments for 2013, but property market analysts are wary of the current mortgage borrowing rules that should be addressed by monetary authorities.
Germany’s central bank is urged to consider some property cooling measures to address an imminent property bubble triggered by price trends and a structural weakness in the German mortgage market………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

French property continues to be attractive to overseas investors but it could be entering a slump. Figures from the FNAIM, the organisation that represents estate agents, revealed that sales fell in 2012 across most regions.
Across the board, real estate transactions dropped by 25 per cent, with Normandy and Brittany experiencing the most notable declines. These areas are traditionally popular with British buyers, suggesting the country is becoming less active in the market………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

According to Jones Lang LaSalle’s analysis, total investment volumes on the Polish commercial real estate market in 2012 amounted to approximately €2.75 billion. This was on a par with the results from 2011 (approximately €2.75 billion as well), which was a very good year for the investment market, and is a considerable improvement on 2010 volumes (€1.98 billion). 76% of total transaction volumes in the CEE region fell to Poland.
Investors (especially from Germany, USA and Great Britain) focused their attention particularly on prestigious office and retail projects. Warsaw remained especially popular as the city accounted for 55% of total transacted volumes………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

PIK Group, one of Russia’s largest homebuilders, said on Wednesday the residential housing mass market remains strong as it reported a 31 percent rise in new sales contracts during the fourth quarter.
Mortgage-backed sales were stable during 2012 despite interest rate increases for individual mortgages, PIK said, while average selling prices rose 10 percent in Moscow………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

Property values in the country have increased by 3.36 times since 2000 as the average value for a property has gone from Sh7.1 million in December 2000 to Sh24.1 million in December 2012, according to the latest annual housing report by HassConsult.
Head of Research and Marketing at HassConsult Sakina Hassanali said that the last three months have seen the property market come back to life, after the very low levels of activity from the end of 2011 following the sharp interest rate rises rolled out by the government………………………………………..Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

Amid confusion and speculation over upcoming changes in the rules governing mortgages [in the UAE], nationals and expats are rushing to buy homes in the strongest property market since 2006.
According to a Dubai Municipality official, who declined to be named, “We witnessed a hike in sales as of the beginning of this year. As of January 21, 2013, we have witnessed transactions amounting to Dh490 million compared to mere Dh200 million for the same day last year, a rise of 160 per cent.”……………………………………….Full Article: Source

Posted on 24 January 2013 by Laxman |  Email |Print

China’s home prices extended their slow rise in December, the fifth month in the last six to show an increase despite the government efforts to temper prices. Average home prices in 70 major cities across China rose 0.4 per cent in December from the previous month, after a 0.3 per cent rise in November, according to Reuters’ calculations based on data released by the National Bureau of Statistics.
Real estate investment - which accounted for 13.8 per cent of China’s GDP in 2012 — rose 16.2 per cent last year from a year earlier, slowing from an annual increase of 16.7 per cent in January-November………………………………………..Full Article: Source

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