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Real Estate Briefing 12.Feb 2013

Posted on 12 February 2013 by Laxman |  Email |Print

The direct investment into commercial real estate globally is on a high and the volumes are likely to reach a whopping $500 billion in 2013 from $443 billion in 2012, due to increased levels of demand for real estate coupled with a strategic reallocation towards this asset class by institutional investors, said a new report.
The volumes in the Europe, Middle East and Africa (EMEA) are likely to remain the same in 2013 as those achieved in 2012, according to the latest research from property expert Jones Lang LaSalle (JLL)………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

Due to investor appetite for yield and safe-haven sectors, global listed property had significantly outperformed most major asset classes during 2012, a research paper reveals. While fund performance has been impressive in an absolute sense, the Lonsec Global Property Securities Fund Sector Review rates the relative performance as somewhat disappointing.
The Lonsec report reveals that global property securities outperformed global equities by 8.6% over the year to November 2012, and by 8.7% annually over a three-year period………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

The last 12 months saw both major global listed property indices return over 25 per cent to November 2012, but most fund managers fell short of the benchmark, according to the Lonsec Global Property Securities Fund Sector Review.
The sector largely rebounded from the lows experienced during the global financial crisis, outperforming global equities by 8.6 per cent over the year and 8.7 per cent over a three-year period, Lonsec stated. Despite this, the relative performance of funds was difficult to determine since a number of funds are benchmarked to different indices, Lonsec senior investment analyst Andrew Coutts said………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

Prices for single-family homes climbed in almost 88 percent of U.S. cities in the fourth quarter as the housing recovery broadened. The median sales price rose from a year earlier in 133 of 152 metropolitan areas measured, the National Association of Realtors said in a report. In the third quarter, 120 areas had gains.
An improving job market and low interest rates are driving up prices by fueling demand for a tightening supply of listings. The national median price for an existing single-family home was $178,900 in the fourth quarter, up 10 percent from the same period last year. That was the biggest gain since 2005, according to the Realtors group………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

We may only be two months into the year, but 2013 is shaping up be a solid year for the real estate market. With record-low interest rates and other investments still on shaky ground, some experts are pointing to real estate as a prime investment opportunity. “Europe is a mess and the stock market is unpredictable,” says Adam Leitman Bailey, founder of New York City-based real estate investment boutique Adam Leitman Bailey.
While some housing markets are recovering at a quicker pace than others, Leitman Bailey says 2013 is on track to be the best year for real estate since 2006, and the uptick is being welcomed with open arms from buyers and sellers………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

An index of U.K. house prices fell in January as heavy snow affecting most of the country depressed interest from potential buyers, according to the Royal Institution of Chartered Surveyors.
A gauge by London-based RICS declined to minus 4 from minus 1 in December, it said in an e-mailed report today, citing a monthly poll of property surveyors. While a measure of new buyer inquiries fell to minus 9 from 10, the outlook for home values improved, it said………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

Investors in UK commercial property funds have lost almost 12 per cent over the last five years, according to housing investment and equity mortgage provider Castle Trust. Castle Trust’s research analysed the returns received from 42 funds in the IMA Property Sector which found that the best return from the 14 funds focused on the UK over five years is +1 per cent while the worst is -26.6 per cent, with the sector averaging losses of 11.4 per cent.
The research also showed that 34 per cent of financial advisers expect increased activity in the UK residential property market during 2013 as the sector begins to recover………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

Norway’s Government Pension Fund, the world’s largest sovereign wealth fund, said Monday it had entered the US real estate market by investing $600 million (448 million euros) in five office properties.
The fund bought a 49.9 percent stake in five office buildings in Washington DC, New York and Boston after forming a joint venture with the seller, TIAA-CREF, a pension fund. The US fund will retain a 50.1 percent holding and will be responsible for managing the properties, it said………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

Italian listed property funds recovered strongly in January, bouncing back to April 2012 levels after a continuous negative trend since March 2011, says realtor BNP Paribas Real Estate.
The BNP Paribas REIM Italian Index measuring property fund performance rose by 15.5% on December, almost fully recovering the loss of last year, BNPRE said in its regular monthly report. As a consequence, the aggregate discount to net asset value on just over 30 such funds narrowed to just over 50% from its widest of around 60% in autumn………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

Officials at the Bank of Israel remain concerned about the potential of a renewed spike in housing prices due to the decline in the number of residential building starts, and the continued pace at which mortgage lending is proceeding.
Some 102,000 homes were sold in Israel last year. This was 18% more than in 2011, but a longer term comparison shows that the increase was less significant, since home sales in 2011 were dampened by that summer’s social protest movement………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

The West Bank’s first Palestinian-designed planned city offers a window into the promises and perils of the current situation in the Middle East. But will it be a novelty, or a game-changer?
The sole outlet to Rawabi sits off a dizzying two-lane highway flanked by round, scraggly hills. In this part of the West Bank, just north of where the Jerusalem suburbs thin into a dry, granite-gray wilderness, the mountains seem to aid in the illusion that Israeli and Palestinian spheres of authority can remain perfectly, even harmoniously separate………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

While we are regularly bombarded by reports from private local and international brokers on the state of real estate in the country, glowing forecasts should be challenged, especially since these are more self-serving and these companies really want to promote the sale of projects even before any ground is broken.
But who will really challenge such market forecasts and provide credible data on demand and supply forces that govern the real estate market? We are seeing smaller real estate companies being formed, many funded by pooled capital from individuals looking for better earnings for funds that have been performing badly in banking instruments………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

Commercial banks have been trying to keep real estate firms alive, because if the firms go bankrupt, banks would suffer. This explains why no commercial bank has requested the court to declare the bankruptcy for any real estate firm so far, even though banks cannot collect debts from the clients, while firms have been on the point of death.
A report by the Ministry of Construction showed that 42,230 houses and apartments in 50 localities have been left unsold (26,444 apartments, 15,876 houses). The inventories are worth VND111,963 billion. The figures do not include the apartment projects which are still under construction, the projects which have been half finished due to the lack of capital………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

2013 is expected to register positive growth in Jakarta’s property market according to a recent report by real estate management firm Jones Lang LaSalle. Jones Lang LaSalle expects a gradual increase in market occupancy in 2013, which should be followed by steady rental growth in the range of 14-15 percent year on year.
Growing demand for luxury urban living and a low interest rate environment should also drive Jakarta’s condominium market, according to research. Sales will be supported by quality projects attached to international high-end hotel brands………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

Taiwan’s political and macroeconomic situation will continue to impact the island’s home market this year, according to a recent survey released by Cathay Real Estate and National Chengchi University.
According to the survey, Taiwan’s real estate industry had a slow first quarter in 2012, followed by an upward surge in the second. Things cooled down a bit in the third quarter and picked up again in the last three months of 2012………………………………………..Full Article: Source

Posted on 12 February 2013 by Laxman |  Email |Print

Robust demand drove sales volume growth in the residential property market during January to the highest level for the month in five years with the number of sales up 21 per cent on January 2012. The national median price rose 4.2% compared to January 2012 to $370,000 but eased from the record $389,000 established in December 2012.
The Chief Executive of the Real Estate Institute of New Zealand (REINZ), Helen O’Sullivan, says that the residential real estate market has begun 2013 well, continuing the trend that developed during 2012. “The residential real estate market has begun 2013 in good shape with a more than 20% increase in sales volume on this time last year. The national median price eased from its December level, although it remained 4.2% above the level reported at the same time last year. Given the highly seasonal nature of the housing market, prices and volumes tend to ease from their year end levels in January, as marketing campaigns for many properties in the upper price bracket don’t begin until the latter half of the month.” (Press Release)

Posted on 12 February 2013 by Laxman |  Email |Print

Real estate investors are not your usual investors and most of the times, could be biased against hedge funds, said Marc Lehmann, General Partner at Riverloft Capital during the latest Opalesque Florida Roundtable. The Roundtable took place in December 2012 at Wells Fargo’s Miami office and was sponsored by Wells Fargo and Eurex.
Lehmann said, “I found it outrageous how some investors are in fact able to cope with a decline of real estate prices of 40% or 50%, but do not want to deal with the volatility of the stock market or with hedge fund investing. There is a certain level of resiliency towards volatility, but when it comes to hedge funds and the stock market, they feel different. Somehow they feel empowered by price quotes on Yahoo Finance or whatever platforms they use to look at price history and make judgment without proper fundamental analyses.”……………………………………….Full Article: Source

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