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Real Estate Briefing 13.Feb 2013

Posted on 13 February 2013 by Laxman |  Email |Print

Hong Kong is the world’s most expensive global retail market as wealthy Chinese tourists, luxury retailer expansion and a shortage of prime space drive rents to record highs, according to new research from global property advisor CBRE Group, Inc. (CBRE).
CBRE’s quarterly survey, which tracks the top-10 most expensive prime global retail markets, continued to find historically low construction rates of prime retail space, leading to low availability levels and fierce competition. This dynamic is driving record rents across many global retail markets, including those ranking among the most expensive, such as Hong Kong, London, Paris and Sydney………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

Real estate players are increasingly buying hotels to turn them into everything from private schools to retirement homes and apartment buildings.
An abundance of hotels are being put up for sale in Canada for a variety of reasons and a growing proportion of them are being bought by real estate firms, which have typically accounted for a small proportion of the acquisitions, according to a new report on the state of the hotel industry that will be released by real estate services firm CBRE on Tuesday………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

It’s been interesting to watch the view on the Canadian housing market become progressively more negative. Eighteen months ago, the consensus was that the Canadian housing market was well supported by underlying fundamentals. A year ago, we were headed for a soft landing with flat prices.
By late 2012, the consensus view was best summed up by TD economist Craig Alexander, who in November suggested that house prices in Canada would likely retrench on the order of 10 per cent nationally………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

“As housing goes so goes the economy,” is one economist’s assessment of the latest batch of worst-than-expected housing construction data.
Canadian housing starts plummeted nearly 19 per cent in January, suggesting that new construction this quarter “may be losing momentum faster than even we had anticipated,” said David Madani, an economist at Capital Economics………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

With Valentine’s Day one day away, many people are thinking about their crush. But for nearly two-thirds of those surveyed by Realtor.com, their crush is a house. A home crush is defined as a home that is so adored that someone checks it out multiple times online. When digging a little deeper, here is what Realtor.com found out about these “home crushes.”
Of those who admitted to having a home crush, 64% say their home crush is within their price range. Conversely, 36% cannot afford their dream home………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

The tri-state area has the smallest number of apartments available for sale or for rent in years, putting would-be home buyers in a difficult position of deciding whether to continue renting or to buy from a home selection much smaller than they’d like.
“Whether it’s Manhattan, the Hamptons, Miami, Los Angeles, we’re seeing the inventory fall sharply,” said real estate expert Jonathan Miller. People may want a bigger home, “but you don’t have things to buy,” said Miller. “You don’t have the selection.”……………………………………….Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

The UK housing market is showing signs of its first significant revival since the credit crunch nearly six years ago. Mortgage lending picked up last year led by a big rise in first-time buyers, according to the Council of Mortgage Lenders (CML).
The CML said the number of first-time buyers rose by 12% to 216,000, the highest number since 2007. Separately, the Office for National Statistics reported that UK house prices rose by 3.3% last year………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

Rics says that activity levels are “encouraging” and there is “some optimism” that things could continue to improve. The number of housing transactions have now increased for consecutive months, with a net balance of 15 per cent more chartered surveyors stating that the number of newly agreed sales rose in January, according to the latest Royal Institution of Chartered Surveyors data.
In tandem with this, Rics’ report showed prices remained broadly stable during the first month of the year………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

In the last three months of 2012, the quarterly performance of all funds in the IPD/BVI German Quarterly Spezialfonds Index was 0.5%, up from 0.2% in the third quarter. The sub-index for funds mainly invested in Germany stood at 0.8%, substantially higher than for funds focused on European markets, which registered 0.1%.
German institutional property funds produced a total return of 1.8% at the fund level (NAV) in 2012. Funds with an investment focus on Germany substantially outperformed the market, with an annual return of 3.5% as against 0.6% for funds with a European focus. These are findings of the latest quarterly report by IPD, for Q4 2012, and the year 2012 as a whole………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

There are signs of a property bubble in Switzerland, according to recent studies, but other observers say the situation should remain under control. To be on the safe side, the authorities have called on the banks to tread carefully.
A study published by the UBS bank earlier this month said the risk of the market overheating, already present in the third quarter of 2012, increased in the fourth. “The index lies clearly in the risk zone, confirming the increased imbalances in the real estate market,” it says………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

Residential property prices in Romania decreased by “only” 0.8 percent in 2012 y-o-y and are showing signs of stabilization, according to the Residential Property Index put together by Eurobank Property Services’s (EPS) for the Romanian market.
“At the end of another year of coverage the annual EPS residential price index for Romania clearly delivers a message of price stabilization, with a national price reduction of only 0.8 percent for 2012, following reductions of about 5 percent for 2010 and 2011. The quarterly index suggests that national market prices fell by 2.2 percent in the last quarter of 2012, but this may be well attributed to the seasonal fluctuations around a stable trend,” reads the report………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

The Central Bank of Azerbaijan reports that turnover of country’s residential property market for 2012 increased by 24.86% against 2011. According to the CBA, turnover of residential property (the cash flow of notary’s offices) reached AZN 2.828 bn by 1 January 2013 versus AZN 2.265 bn a year earlier.
At the same time transfers to notary’s offices accounts for purchase/sale of residential real estate by individuals totaled AZN 1.599 bn by 1 January 2013 versus AZN 1.2 bn a year earlier (+31.81%), and the withdrawals from these accounts AZN 1.228 bn versus AZN 1.05 bn (+16.84%)………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

According to Statistics Estonia, in 2012, 36,176 purchase-sale transactions of real estate in the total value of 1.7 billion euros were notarised.In 2012, the number of transactions increased by 12% compared to 2011 and the total value of transactions increased by 13%.
Compared to the real estate slump in 2009, the number of transactions increased by 38%, while compared to the boom year 2006, transaction activity is still 40% below the level of that year………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

Demand for high quality commercial and residential property continues to grow across Africa on the back of the continent’s sustained strong economic growth and rising wealth, according to Knight Frank’s newly released Africa Report 2013.
Africa is in the midst of a period of dynamic economic expansion, having averaged GDP growth of more than five per cent per annum over the last decade. This strong growth is expected to continue and is creating wealthier populations, particularly in the largest and most rapidly growing urban centres………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

Arab nationals bought properties worth Dh4.88 billion in Dubai last year, according to statistics shared with this website by the Dubai Land Department. The total Arab money invested in Dubai’s property market was a mere 9 per cent of the overall Dh58.6 billion investments made by Gulf Cooperation Council, Arab and other foreign nationals.
Lebanese were the largest Arab investors, having purchased real estate worth Dh984 million while Jordanians pumped in Dh947 million………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

Government intervention is the main risk faced by Singapore’s property market this year, according to a recent report published by property management firm Jones Lang LaSalle. Record levels of units expected to be completed in coming years are also likely to increase risk in Singapore’s property market, according to the report.
Jones Lang LaSalle expect buyers in Singapore to take advantage of cheap mortgage rates this year by purchasing properties in good locations, as there are no indicators to suggest that interest rates will rise in the coming 12 months………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

In the current real estate environment it’s tempting to feel unlucky and unloved, particularly if you bought a property in recent years and watched its value go nowhere or backwards. Or if you’ve been trying to break into Australia’s housing market, which by many measures is the world’s most expensive.
However, a few reports and statistics are showing just how lucky we are. Here are some examples. Firstly, look at the global financial crisis and its impact on house prices worldwide. US housing slumped 30 per cent, more than 50 per cent in some areas. In Britain it was 20 per cent………………………………………..Full Article: Source

Posted on 13 February 2013 by Laxman |  Email |Print

The Real Estate Institute says a sharp fall in the median house price in January is not the start of a bigger correction in prices. The median price fell back from its all-time high of $389,000 in December 2012 to $370,000 last month.
The 4.9% fall in the median house price between December and January was the largest monthly fall since Real Estate Institute records began in 1992. But chief executive Helen O’Sullivan says once the size and quality of the houses is accounted, the median price fell just 1% during the month………………………………………..Full Article: Source

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