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Real Estate Briefing 07.Feb 2013

Posted on 07 February 2013 by Laxman |  Email |Print

Asian markets continue to outperform Europe with positive investor sentiment, says RICS Global Commercial Property Survey Q4 2012, published last week. The latest results of the survey highlight the broadly positive occupier and investment momentum across Asia, the UAE, North America and Russia along with a declining flow of distressed properties coming onto the market in these areas. In addition, the survey paints an optimistic picture for the next quarter, with majority of Asian markets reporting rising transaction and capital value expectations and expecting investment demand to grow further stronger.
The China market continues to perform well on both the occupier and investment sides. Strong domestic consumption remains a key support for the former although the new supply coming onto the market suggests the positive momentum in rents may moderate over the coming months. Meanwhile, the investment market continues to be underpinned by a firm trend in new enquiries to purchase property. (Press Release)

Posted on 07 February 2013 by Laxman |  Email |Print

January kind to real estate: One month does not a trend make, but sales numbers coming in from across Canada show a January housing market with some spunk still. “The January home sales results are rolling in across Canada’s major cities, and year-over-year growth looks much improved from December’s 17.9-per-cent year-over-year dive in the major markets,” said economist Robert Kavcic of BMO Nesbitt Burns.
National numbers won’t be reported by the Canadian Real Estate Association until mid-February, but local boards have started to post their January results………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

January often sees a lull in the sales of houses and condos, with buyers less willing to traipse from viewing to viewing in the chilly weather. However, the latest monthly stats from the Toronto Real Estate Board—and new reports of bidding wars—suggest the new year has brought renewed vigour to the city’s lagging housing market. We unpack the latest intel below.
In January, 4,375 GTA homes changed hands through MLS, a slight (1.3 per cent) decrease compared to January 2012. Realtors see that number as encouraging, since the GTA has seen double-digit decreases for the last few months………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

Sentiment in Calgary’s industrial real estate market is expected to be “cautious” over the first quarters of this year but tenant demand for space will remain “somewhat stable,” says a report by Cushman & Wakefield.
“As 2013 progresses, the global economy should begin to pick up, resulting in an increased demand for natural resources, setting Calgary and the rest of Alberta up for another surge in economic activity,” said the report………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

Everyone knows that the U.S. housing market is on its way up. But housing is a local story; the U.S. market is made up of many smaller markets with their own idiosyncrasies.
There is, however, one quality that clearly distinguishes two types of U.S. housing markets: the foreclosure process. Specifically, the type of foreclosure process (judicial or non-judicial) has determined how quickly a market has been able to clear out inventory………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

It’s impossible to ignore the increasingly loud cheers: The housing recovery is in full swing! Just on Monday, CoreLogic reported that home prices increased more than 8 percent year-over-year in December — the largest gain in six years, when the boom was at its height.
Home sales recently have been the strongest we’ve seen in a long time (though they are expected to temper in January due to a normal winter slowdown). All of that sounds great, but here’s the problem: It seems to be mostly smoke and mirrors………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

When housing began to simmer back in 2002, prices were rising around seven percent a year, then eight percent in 2004 and a stunning 12 percent in 2005. At the time, words like “bubble,” and “unsustainable,” were uttered with every monthly reading. No one had seen home prices soar like that since the mid 1970’s.
Historically, prices nationally rise about three to four percent a year. The market was clearly too hot, and by 2007 it had reversed dramatically, with prices falling nationally for the first time in history………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

Real estate is a tough business. It requires you to be completely client-focused, to think on your feet, and to maintain a large portfolio of properties you may need to show at a moment’s notice. It also requires persistence, business-savvy, and lots of, well, chutzpah.
These 21 young real estate agents are the newest hotshots in real estate. They’re selling multi-million dollar homes, giving back to their communities, and reshaping the nature of the business with their innovative approaches to social media and technology. From Miami to New York to Los Angeles to Houston, these agents have the housing market covered………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

After quite a bit of bingeing — and more than a little purging — the private equity real estate market appears to be finding a bit of equilibrium, even after poor performance and regulatory changes have thinned the ranks of dealmakers in the sector.
Private equity real estate funds raised an aggregate $54.9 billion last year, and a further 451 funds are currently on the road chasing $148 billion Accor ding to data provider Preqin………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

When Jason Joseph launched his Atlanta-based investment firm in 2009, the plan was to buy distressed property loans from U.S. banks. But these days, he is more likely to be making the rounds in London, Munich or Amsterdam.
His firm, Hibernian Pacific Holdings, last month signed an agreement to buy an office park in Germany for €80 million ($108 million). That was Mr. Joseph’s first European deal. He aims to buy property or loans valued at as much as €600 million this year, about three times what he anticipates buying from U.S. banks………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

Investment in European logistics and industrial assets rose to €2.9 billion in the final quarter of 2012, reflecting a 41% increase on the previous quarter according to Jones Lang LaSalle research. Surging investment activity lifted the year’s total to €8.6 billion. This still reflects a 13% decline on 2011 but the overall slowdown remained below a previously expected 20%+ drop, thus exceeding expectations for the full-year 2012.
“The strong final quarter reflected the increasing investor appetite we witnessed throughout 2012 in the sector. The overall slowdown in transaction activity during 2012 was driven largely by an uneven spread in liquidity across the region, with falls across much of Southern Europe but strong growth in sought after core markets such as France, Germany and Poland.” comments Tom Waite, Associate Director European Capital Markets in Jones Lang LaSalle………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

UK commercial property fund investors have lost an average of 11.4 per cent over the past five years, analysis by Castle Trust has shown. Sean Oldfield, chief executive of the housing investment and shared equity mortgage provider, claimed analysis of returns from 42 funds in the IMA Property Sector showed the best return from the 14 funds focused on the UK over five years was a meagre 1 per cent, while the worst performance was a loss of 26.6 per cent.
Mr Oldfield claimed advisers were instead turning to UK residential property, after a survey of advisers found 34 per cent expect increased interest in 2013 as the sector recovers………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

UK house prices registered their first annual rise since October 2010, rising by 1.3% in January compared with a year earlier, a lender has said. But the Halifax, now part of Lloyds Banking Group, also said that property values were 0.2% down on December.
The “signs of improvement” in the market, which started in late 2012, continued into the new year, the lender said. But it added that the outlook for prices was unclear………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

The UK’s super rich have switched their gaze to the US residential and commercial property market, according to family wealth adviser Stonehage Investment Partners. John Veale, chief investment officer at Stonehage, said wealthy investors were “piling in” to the sector, in a move similar to the recent investment boom witnessed in the London property market.
He added that US residential property now accounts for between 8-10 per cent of a typical client’s portfolio, compared to a historical average closer to zero………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

Existing home prices in Spain were little changed in January, the first month without a decline in three years, according to Fotocasa.es and IESE Business School.
The average asking price was 1,890 euros ($2,550) a square meter compared with 1,891 euros in December, Fotocasa, a Spanish real estate website, said in a survey published today. The annual decline was 9.9 percent. Homes in Madrid, Spain’s capital and financial center, rose in January 0.3 percent to 2,965 euros a square meter, 57 percent more than the national mean………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

According to the latest issue of SEB Housing Price Indicator, 39% of all Latvians expect housing prices to go up in 2013, reports news2biz LATVIA. A much smaller amount, just 13%, believes that the prices will fall, and a further 30% believe that they will not change (the rest had no opinion on the issue.)
The indicator reached its highest mark in November 2014, when 41% of all Latvians expected that the housing prices will go up………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

The proposed mortgage cap in the UAE has been postponed while discussions of the plans take place. The limit on lending to foreigners at a maximum of 50 per cent of a property’s value, along with a cap on loans at 70 per cent for citizens, was announced at the end of last year, following 12 months of strong growth.
The plan was criticised by experts, who feared it might cause the market’s strong recovery to slow down, while officials aimed to avoid another bubble as investors return to the economic safe haven of Dubai property………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

Home sales in India could rebound in 2013, helped by quicker project approvals and lower cost of finance, according to analysts. “Residential markets have entered CY13 on an encouraging note, with robust offtake seen in new launches across markets over the last three months,” global financial services group JP Morgan said in its January report. “We expect volumes in residential markets to improve over the next 12 months on pick-up in pace of new launches coupled with price discounting and mortgage rate cuts.”
According to CRISIL Research, absorption of new residential units across six key cities - Mumbai, the National Capital Region, Pune, Bangalore, Chennai and Hyderabad - is expected to increase at a compound annual growth rate (CAGR) of 7% to 251 million sq ft in the next two years……………………………………….Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

China’s government has stepped up efforts to ensure housing for low-income residents as its regulated property market has warmed in recent months, new data has revealed. The central government allocated 233.26 billion yuan ($37.1 billion) for subsidized housing projects in 2012, up 36.2 percent year on year, according to an online statement by the Ministry of Finance on Wednesday.
Meanwhile, the country completed the construction of 6.01 million affordable units and renovated dilapidated buildings for 5.6 million households in rural areas, the statement said………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

Stricter controls could be imposed on China’s property market after house prices in some cities went up faster than expected, Shanghai Securities Journal reported Wednesday.
The report cited an anonymous source close to the Beijing Municipal Commission of Housing and Urban-Rural Development as saying that major cities such as Beijing are “basically sure” to announce new measures in the near term, including restraining demand and creating higher purchase barriers. These new measures will probably be announced before early March, when the country opens the year’s major political meetings, the report said………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

Hang Lung Properties chairman Ronnie Chan Chi-chung yesterday warned the property market could be oversupplied as the government considers multiple measures to boost housing amid global uncertainties. Chan, who is a strong supporter of Chief Executive Leung Chun-ying, said fears are rising that a similar situation to 1997 will arise again.
At the start of that year, the then-chief executive Tung Chee-hwa put forward a target to build 85,000 units annually. But in the second half of 1997, the property market crashed due to fears of oversupply and the Asian financial crisis………………………………………..Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

Property transactions in Taiwan are expected to warm up and recover after the number of housing transactions fell to its lowest annual level in 2012 since 2003, according to local brokers.
“Although it experienced a low last year, we expect a steadily warming housing market amid the improving economy,” said Liu Yi-jong, an executive at Taiwan Realty Co. According to government data, just 329,741 properties in Taiwan changed hands last year, down 8.84 percent from a year earlier, marking the lowes……………………………………….Full Article: Source

Posted on 07 February 2013 by Laxman |  Email |Print

AMP Capital’s chief economist, Shane Oliver, says residential property is still a solid choice for investors, but places it second to the share market in predicted medium-term (five-year) returns.
Oliver says that, for the past five years, bonds and cash have been ‘the place to be’ and that while yields on bank deposits have been single digit, they’ve still been higher than returns from both shares and residential property. Now, Oliver says, things have changed, signalling good news for those working in the property market………………………………………..Full Article: Source

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