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Real Estate Briefing 19.Feb 2013

Posted on 19 February 2013 by Laxman |  Email |Print

China Vanke Co., the biggest developer listed on Chinese exchanges, has entered a property venture in San Francisco, its first foray into the U.S. real estate market. The company signed the deal on Feb. 12, Chairman Wang Shi wrote on his microblog on Sina Corp.’s Twitter-like Weibo service, and confirmed by Vanke, without giving any details.
Vanke bought 70 percent of 201 Folsom Street, a mainly high-end residential project owned by Tishman Speyer Properties LP, Jinsong Du, a Hong Kong-based property analyst at Credit Suisse Group AG, wrote in a note to clients Feb. 12, citing information from Vanke…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

The real estate market in Buenos Aires fell 21.16% in value of sales in 2012, according to a report by the city’s Notary Public Association. The number of sales in the housing market, 46,625, was down roughly 27% compared to this time period in 2011.
The biggest decrease occurred in the month of September, when about 46% fewer deeds were purchased than in September 2011. There are signs, however, than an improvement is in sight. Slight increases were registered in the final three months of 2012, in comparison to the previous respective periods…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

European shop landlords will have to accept lower rents in coming years to help besieged retailers cope with the rise of online shopping and weak consumer spending, French insurer AXA’s property arm said on Monday.
Property owners in Spain are under most pressure, AXA Real Estate, Europe’s largest real estate fund manager, said in a report called “Retail will never be the same again”…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

Peter Toogood, investment director for Morningstar OBSR, says that with equity markets recording their best January for two decades and bond bulls becoming rare, commercial property may be an attractive option for yield-started institutional investors.
Improving economic data and sentiment and the downplaying of prior “tail risk” concerns was not lost on the financial markets. World equities surged in January, with the MSCI World Equity Index recording the best January in 19 years. January also provided the index’s largest monthly outside of recovery rallies since 2010…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

The housing market has made a “sprightly” start to 2013, with asking prices reaching their highest levels for February since 2008, a property search website said on Monday. Prices jumped by 2.8pc month-on-month to reach £235,741 on average, with big monthly leaps of around 5pc recorded in the North West of England and Wales, Rightmove said.
Prices are 1.1pc higher than a year ago and are just £2,115 shy of a February record set in 2008, showing the market is making a “slow but steady recovery,” the study said…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

Figures from property website Rightmove.co.uk show the average asking price is now £235,741, up from £229,429 in January. The figure is just £2,115 shy of the post-financial crisis record set in February 2008. Property ‘old hands’ are fuelling the increase in price, with 71% of people who intend to sell in 2013 being over the age of 45. Half of those planning to buy this year will do so for at least the third time.
The two most active age ranges in the market are the 45 to 54 bracket, who make up 25% of those planning to sell this year, and the 55 to 64-year-olds, who make up 30% of the total sellers…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

Farmland prices reached record levels during the second half of 2012, as demand for commercial farmland continued to grow, says the latest RICS Rural Land Market Survey, H2 2012.
The average price per acre for farmland in England and Wales increased to £6,783*(approx. €7900) during the second half of 2012. Prices have now continually risen since the beginning of 2009. Surveyors attribute the strength of farmland prices to increased demand and lack of available land…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

UK commercial property’s performance was “stable” at the start of 2013, according to CBRE. The firm’s latest monthly index was largely unchanged to the end of January 2013. The All UK Property segment recorded a total return of 0.3% in the month, unchanged from December with annual total returns picking up slightly to 2.1%.
Capital values continued to slip, declining 0.2% in January, which was also a repeat of the declines recorded in the final two months of 2012. In January, for the ninth month running, central London offices were the only sector where capital values increased, up by 0.3%…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

An executive board member of the Deutsche Bundesbank said Monday that although there aren’t any signs of a domestic housing bubble in residential real estate yet, regulators and supervisors must watch the market closely.
In a speech to be delivered in Hamburg and provided in advance by the Bundesbank, Andreas Dombret, the board member responsible for financial stability said that despite price rises last year of over 8% for residential real estate in Germany’s seven largest cities, concerns that prices in the market would reach an unsustainable level and then decline are exaggerated…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

German property price gains “lost some vigor” in 2012 as the cost of new homes rose more slowly, according to the country’s central bank. Home values in Germany’s 125 largest cities in 2012 increased by 5 percent, the same pace as a year earlier, the Bundesbank said in a report published today, citing data compiled by research firm BulwienGesa AG. The gains may pose economic risks, even though real estate lending remains moderate, the bank said.
“We must be vigilant,” Board Member Andreas Dombret said in a prepared speech. “International experience shows that the early phases of overheating can exist along with low lending growth.”……………………………………Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

Switzerland’s Federal Council is taking action against an excessive rise in prices in the real estate market and exorbitant mortgage debt. At a recent meeting, the Federal Council decided to accept the application of the Swiss National Bank (SNB) and to partially activate the countercyclical buffer. This means that from September 30, 2013, banks will be obliged to hold additional capital for residential mortgages.
Based on the Capital Adequacy Ordinance (CAO), the SNB can request the Federal Council to oblige the banks to hold additional capital in the form of a countercyclical buffer. The SNB submitted the corresponding application to the Federal Council on February 5, 2013…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

More global real estate investors say Russia a more attractive real estate investment than Europe. According to a 45 page report by Ernst & Young, released last week, 87% of roughly companies surveyed said Russia was an attractive or very attractive investment for properties, while 83% said the same about Europe. Within the margin of era, that makes Russia as good, if not better than Europe when it comes to the global property market.
The most active investors in this space are private wealth management firms gobbling up lower cost Russian properties, with 57% saying they were the most active investors in the country followed by Real Estate Investment Trusts…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

Retail remains the most dominant investment sector in the Turkish real estate market, but change is afoot, according to panellists at PropertyEU’s Investment Briefing on Turkey.
Traditionally, office investment accounts for 40% of most investment markets in Europe. But in Turkey retail and leisure-related assets make up 80-90% of the real estate investment market, according to Jos Tromp, head of CEE research at CBRE…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

Rising inflation and cheaper borrowing costs are leading institutions increasingly to view property as a safe haven, resulting in an expected rise in allocations to the asset class in Asia this year.
“More institutional money is coming to real estate, or is available for real estate, both on the debt and the equity side,” says Paul Guest, Asia-Pacific head of research and strategy at LaSalle Investment Management…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

Analysts say real estate sector seeks key reforms that will ensure smoother land acquisition and remove regulatory uncertainties. India’s real estate sector needs greater transparency and transaction integrity to attract sovereign wealth funds that are paying more attention to property investment, consultants and sector analysts say.
The sector is seeking key reforms that will ensure smoother acquisition of land and remove regulatory uncertainties that are are deterring sovereign funds from venturing into the country, they said…………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

The optimism level of Malaysian property market in 2013 is expected to stay low due to general election uncertainty, a property industry survey said. According to the Real Estate and Housing Developers Association (REHDA) Institute, the optimism level is expected to increase to 32 per cent in the first half of this year, from 28 per cent in the second half of 2012.
However, the trend continues a drop from 48 per cent in the second half of 2011 to 29 per cent in the first half of 2012. “There is some election overhang … This is probably for industrial and commercial (properties),” REHDA president Datuk Seri Michael K.C. Yam said …………………………………….Full Article: Source

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Posted on 19 February 2013 by Laxman |  Email |Print

Academics were divided over the effectiveness of the special sales levy in helping curb property speculation, but agreed that the measure needed to be reviewed two years after its implementation.
The debate came after the Ministry of Finance said on Friday that it would re-evaluate the tax, with houses resold within two years after purchase being subjected to a levy of up to 15 percent starting in June 2011…………………………………….Full Article: Source

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