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Real Estate Briefing 07.Mar 2013

Posted on 07 March 2013 by Laxman |  Email |Print

Report by Aviva Investors notes improving global conditions for real estate, highlighting Asia Pacific as offering the highest potential returns. Asia Pacific’s commercial real estate sector is poised to offer the ‘highest potential returns’ among global property markets over the next five years, according to Aviva Investors.
A recent report published by the asset manager forecasts an average annual return of between 9% and 11% from 2013 to 2017 for the sector in the Asia Pacific ex-Japan region. In particular higher-yielding sectors such as industrials in China and Australia are likely to drive performance in the region………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

The number of High Net Worth Individuals - people with more than $30 million in investable assets – is forecast to rise by 95,000 over the next decade, according to wealth intelligence firm, Wealth-X. The result is that each year there are more people who want, and more importantly, can afford, luxury properties.
While demand is ever-rising, the stock of desirable locations remains virtually static, meaning capital inflows concentrate on a few hotspots, pushing prices upwards. We’ve put together a list of 2012’s most expensive property markets, based on research by luxury estate agent Knight Frank, ranking areas by both average property prices for the year, and price per square foot in the fourth quarter………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

Many analysts agree that home prices have bottomed out. According to the latest data from Fiserv Case-Shiller, National home prices are expected to rise 3.3 percent in the next five years. Of course, there will be many cities that see home prices lag behind the rest of the country.
We drew on the Fiserv Case-Shiller data to identify the 15 worst housing markets in the U.S. The bottom 15 cities are ranked by the projected annualized change in home prices between Q3 2012 and Q3 2017………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

Despite a national, downward trend in foreclosure rates, too many struggling Americans continue to lose their homes, placing families and the economy at risk. Recovery has been uneven, with some states, such as Oregon, faring better than others.
This is due to a variety of reasons, including locally enhanced legal responsibilities imposed upon lenders, higher-than-average home sales and decreasing unemployment rates. Other states such as New York, New Jersey and Florida continue to see people struggling greatly and often failing to hold onto hearth and home………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

American International Group Inc. (AIG), the insurer that was rescued by the U.S. government in 2008 after soured bets on mortgage securities, is building a unit to buy individual home loans amid a rebound in the housing market.
AIG plans to buy loans backed by its United Guaranty Corp. unit, the largest seller of traditional private mortgage insurance last year, according to Donna DeMaio, 54, the unit’s chief executive officer. The debt will be held as long-term investments by AIG insurance companies………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

Real estate investment trusts made an impressive mark in 2012 and as a result of continuous positive fundamentals as well as low interest rates, REITs are expected to generate double-digit returns this year, according to a research report by RREEF Real Estate, a member of Deutsche Bank Group.
As a result, strengthening income growth as well as expanding dividend payout ratios will provide investors with steady growth over the next three years, the report stated. “This positive momentum in the public markets bodes well for private markets, which typically lag REITs by three to four quarters,” RREEF Real Estate noted………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

Dramatically growing numbers of mobile, wealthy individuals around the world promise to push up demand for luxury real estate, making high-end properties in Canada’s biggest cities increasingly valuable.
In 10 years, there will be 50 per cent more people on the planet with more than $30-million (U.S.) in net assets – or about 286,000 – according to a new report from British-based real estate consultancy Knight Frank. Emerging markets in Asia and Latin America will see the most dramatic growth, with China’s wealthy population expected to more than double by 2022………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

Projections for Canada’s housing market are all over the map. But where Bank of Montreal’s concerned, residential real estate probably isn’t going to bounce back any time soon. The market has been cooling markedly since Canada introduced new mortgage restrictions in July, and some observers believe it will soon find a new floor before picking up again. Even those who don’t see a pickup on the horizon, however, aren’t forecasting a U.S.-style meltdown.
As The Globe and Mail’s Kevin Carmichael reports, the Bank of Canada suggested today that the battle against a housing bubble has now been won, and consumers are tackling their record debts………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

The UK housing market is continuing to show signs of improvement, according to the latest survey from the Halifax. House prices rose by 0.5% in February, it said, with property values now 1.9% higher than a year ago. The average property now costs £163,600.
Halifax also said housing sales had continued on a “modest upward trend”. While the Halifax predicts prices will rise over 2013, it says weak economic growth and pressure on household incomes will affect demand for housing………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

Figures from the Agency Express Property Activity Index showed the UK real estate market is already exiting the winter lull. January showed encouraging signs of growth, and this has been backed up by figures for February.
The number of properties sold in February increased substantially compared to January, and although this is only to be expected, records show the property market has gradually been picking up since 2010. Data from 2010 to 2011 showed an 8% increase on the properties sold, while figures from 2011 to 2012 are even better, showing an increase of 16.5%………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

According to the latest IPD/Briant Champion Long UK Supermarket Investment Report, 2012 saw more than £1.2 billion (approx. €1.39 billion) of supermarket assets changing hands last year, as investors sought to lock into long-term, index-linked income. Last year, UK institutions accounted for 90% of all supermarket investment purchases.
The lacklustre performance of the bond market is driving an increasing number of UK institutional investors, particularly annuity funds, to buy supermarket property investments that can offer the returns and security of income that institutions require………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

Around 6,000 new government homes will be ready within the next six months, said a top official, adding they will be handed over to people who have been on a waiting list for 19 years.
Almost half (45 per cent) of Bahrain’s 54,000 requests for government homes date back to 1993, Housing Ministry assistant under-secretary for housing policies and services Khalid Al Amer was quoted as saying in the Gulf Daily News………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

Jeddah Municipality is taking steps to implement a plan to level nearby mountains in order to create more housing plots for the city’s burgeoning population. According to an official, the plots will become a part of the government’s land grants.
The municipality also has plans to extend the city’s mass transit project to areas that will be developed in the future, the source added. “The leveling project, which falls within the strategic plan for development of the coastal governorate, will cover areas currently outside the urban confines of the governorate,” he said………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

The State Council, China’s cabinet, issued a notice on March 1 announcing that the governmental body will broaden efforts to support property market regulation. The notice is aimed to further implement macro policies on China’s property market controls.
Beginning July 2003, the State Council has passed macroeconomic policies to curb property speculation on nine separate occasions. However, these regulations fell short of realizing their goal to reign in the property market. The reason, in my opinion, is that they did not address the fundamental problems of social fairness and justice………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

New measures to cool China’s housing market have triggered fresh volatility and stock declines across Asia. But we think the latest government moves won’t derail the long-term drivers of Chinese real estate growth.
How quickly things change in China. After house prices grew at nearly 1 per cent a month in 2011, investors worried that the market was overheating. Then, last year, fears that the government would clamp down on the market prompted a slump in real estate stocks, which later bounced back when the market didn’t collapse. Now, as new fears of a bubble prompted more mortgage restrictions, stocks across Asia dropped and Chinese property developers tumbled sharply again………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

It may not have been the perfect appellation, but a house of cards is what it is shaping up to be as Singapore’s property market scurries to get a sense of balance. The trade dependent nation and Asia’s financial powerhouse has been something of a tease since the onset of the financial crisis in 2008, and its remarkable ability to lure foreign capital to its shores is made all the more achievable by Western economies’ eagerness to allow for cheap credit.
While capital inflows were largely welcomed, they have also created something wholly unexpected and unseen in the nation’s history. Most of the “hot money” (the new economic parlance used when funds move out to seek higher returns) began finding its way into the nation’s booming property market. ……………………………………….Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

There will be a rise in funds going into direct property markets globally, said officials from CBRE Group, one of the world’s largest real estate services firms. This stems from increased allocation by sovereign wealth funds (SWFs), deregulations in regional countries’ insurance industry, and the demand for yield diversification away from the home market.
“In certain markets, we are going to see compression of yield due to the sheer weight of the capital moving into the markets,” Greg Penn, CBRE’s managing director, Capital Markets, Asia, said at a press conference to share the group’s insights on cross-border fund activity for 2013………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

Big institutional investors have been actively buying up properties across the region. Property investments by pension, insurance and sovereign wealth funds have doubled over the last two years. And some of these investments have spilled over into the Singapore property market.
Property sales for investment purposes hit S$31.45 billion in Singapore last year. These include purchases of government land, strata-titled commercial properties and acquiring units in Singapore’s Real Estate Investment Trusts or Reits, according to a report by property consultants CBRE………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

Jakarta and Bali, both in Indonesia, ranked high on real estate firm Knight Frank’s new index of price growth in the world’s luxury real estate markets.
The capital city of Jakarta, where prices increased 38 percent year-over-year, topped the list this year. And Bali ranked second, tying with Dubai with a 20 percent increase in luxury real estate prices between 2011 and 2012………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

The CBD office sector is set for prosperous times next year, according to real estate agents, as sentiments shift and tenants look to make the most of current market conditions. Colliers International’s CBD Office Research & Forecast Report for Australia and New Zealand predicts that next year will be one of renewed growth in the office market, offsetting the current weaker conditions.
Managing director of office leasing Simon Hunt said positive signs were prompting organisations to shift their focus beyond expected low economic growth this year. “Tenants are not yet in growth mode, but 2013 will be the year they get ready for a more prosperous 2014,” he said………………………………………..Full Article: Source

Posted on 07 March 2013 by Laxman |  Email |Print

Property developer Australand has denied claims it ranks among Australia’s leading residential landbankers – a claim made after a study of housing lots around Australia undertaken by activist website, Prosper.
The property developer had less than 8.5 years of supply compared with 19.2 years estimated by Prosper, Australand advised Property Observer who sought a response from all seven leading developers. The overall claim of land banking went un-rebutted by the six other publicly listed developers………………………………………..Full Article: Source

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