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Real Estate Briefing 13.Mar 2013

Posted on 13 March 2013 by Laxman |  Email |Print

Investors increased the amount of equity they plan to commit to U.S. real estate by 19 percent to $55 billion in the second half of last year, more than any other region, according to London-based broker DTZ.
Money excluding debt intended for the Asia Pacific region rose by 15 percent to $40 billion and planned equity investment in Europe grew by 6 percent to $62 billion in the six months through December, DTZ, a unit of Sydney-based UGL Ltd. (UGL), said……………………………………….Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

There are fewer homes on the market in the United States at a time when the market is entering its busy Spring selling season, the latest data shows.The overall number of homes listed for sale nationwide on Zillow was down 16.6% year on year in late February.
Nationwide, the greatest year on year decreases in inventory were among more expensive homes, with the availability of top tier properties falling 20.5%. That was followed by middle tier homes down 17.2% and bottom tier homes down 9.1%………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

If you are looking to buy a home but are worried about the budget, here is your answer- buy distressed property. In the wake of a global economic recovery, the real estate market of the U.S. is on a steady rebound. Home prices are soaring more than ever in every region.
According to data released by a real estate research firm, RealtyTrac, it was observed that around 43 percent of the home sales in 2012 was contributed by foreclosure sales. The increase was furthermore fuelled by a discount on short sales and foreclosures………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

While mortgage brokers are pressing the federal government to bring back 30-year mortgages and give first-time buyers a bigger tax break, Globe and Mail readers are not convinced that easing mortgage rules is the answer to the problem.
When the Globe and Mail asked readers in an online poll whether Ottawa should make it easier for first-time buyers to enter the real estate market, only 40 per cent of the nearly 2,500 respondents said yes, first-time buyers deserve a break………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

The Chilean tourism industry has great potential, given Chile’s stunning beauty, strong economy and political and economic stability. But it is still a young business. In addition to standard hotels and package tours, the eco-tourism and adventure tourism is growing rapidly, offering tourists an experience that highlights Chile’s natural wonders.
More and more eco-tourism companies are moving into the sector, striving to create individualized outdoor travel experiences, protect the environment and take people to more remote destinations than is often possible through standard lodging and tour arrangements………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

European commercial property pricing has reached its most attractive level for investment in almost 10 years, according to research by property advisers DTZ. The company’s latest Fair Value Index released today looks at the current pricing in European property markets and grades them with a score out of 100.
The most recent figures show that the overall index score for Europe rose to 78 in the fourth quarter of last year, from 62 in the third quarter – Europe’s highest score since September 2003………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

The industrial property sector currently offers the best value in Europe, followed by retail and offices, according to DTZ’s latest Fair Value report. The DTZ Fair Value Index for the fourth quarter of 2012 stood at 86, up from 69 in Q3, followed by retail at 82 (71) and offices at 70 (51).
Overall, European commercial property is at its best value in 10 years, with the index score rising to 78 in Q4 2012 from 62 in Q3. The rise in the index was driven by more positive sentiment on the eurozone, which pushed bond yields and required returns down. This has resulted in property looking better value in comparison to bonds………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

Pan-European property funds posted a negative return of 2% over the final quarter of 2012 as the eurozone crisis continued to take its toll, IPD said. The negative quarterly performance was the third in a row as returns continued to be dragged down by value declines in the direct real estate market as a result of the eurozone crisis.
The IPD index is based on the full universe of pan-European open-ended funds that are appraised quarterly according to IFRS standards………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

Cooling measures in Hong Kong, the mainland and Singapore are persuading buyers to invest in overseas properties, especially Britain. Developers of overseas projects are benefiting from the measures being taken by governments in Hong Kong, Singapore and the mainland to curb demand in their property markets.
Some firms plan to speed up launches across the world at lower prices in order to capture the anticipated growth in demand as investors respond to the restrictions by turning to offshore markets. Units are being sold for as low as £43,000 (HK$497,000)………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

The London property market received a huge boost today as one of the capital’s biggest landlords, British Land, raised £1 billion to spend on acquisitions and new developments. The country’s second largest property company tapped its shareholders for £500 million through a share placing and sold Ropemaker Place in the City for £472 million.
“It’s very good news for London,” said Chris Grigg, chief executive of British Land. “We’ve got a lot of interest in the share placing and confirmation from shareholders that this is exactly the type of thing they want to see British Land doing.”……………………………………….Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

Latest research from DTZ shows Sweden has regained its position as the most liquid European commercial property market, with turnover at about 9% of its invested stock. DTZ measures liquidity by dividing a country’s invested stock by investment volumes in any given year.
According to that measure Norway (7.6%), the UK (6.4%), Poland (5.7%) and Germany (5.2%) where the next most liquid markets respectively in 2012, according to DTZ’s figures………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

The Netherlands is looking at creating a national mortgage bank, in an effort to spare its battered banking sector and give a boost to a sluggish housing market. Dutch banks are wrestling with the legacy of a housing bubble that has left them with around €650 billion ($848 billion) of mortgage debt on their books. A peculiar feature of the Netherlands’ financial system is causing another headache.
The Dutch are heavy savers, but they have parked much of their money with pension funds that have invested around 85% of their €900 billion in assets outside the Netherlands………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

Poland’s real estate market continues to expand, Cushman & Wakefield said in a recent report. In 2012, the commercial investment market saw transactions worth a total of €2.8 billion, the best result since 2007. Transaction volume rose by 180 percent in annual terms.
In the office segment, there was a record lease volume and supply rose more than twice, reaching 509,000 square meters at the end of 2012. Supply in the warehousing segment grew by 25 percent in 2012 and most of the space was leased before it was completed………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

Saudi Real Estate Co. (SRECO) may sell Islamic bonds or take out bank loans this year to finance a 5 billion-riyal ($1.3 billion) housing development north of Riyadh, its chief executive officer said.
“We are trying to ensure we can sell Islamic bonds, borrow from banks or get financing from real estate funds if we have to,” Fahad Al Said said in a March 10 telephone interview. “Off-plan sales make a lot of sense for residential development at the moment.”……………………………………….Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

Luxury homes have caught the market’s fancy with nearly $2 billion (over Rs 10,000 crore) worth of such houses launched across the country last year, this at a time when there’s a general slowdown in the housing segment. According to estimates, close to 5,000 homes priced above Rs 3 crore (above Rs 5 crore in Mumbai) were launched across major metros during the year as absorption beat supply in these markets.
“Luxury real estate usually does well during recession or sluggish environment as we are seeing even now. In a highly uncertain environment , the super-rich clientele prefers to put their money into these hard assets than any intangible service or instruments ,” says Sanjay Dutt, executive managing director — South Asia, Cushman & Wakefield………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

Real estate market in Bangalore is expected to grow at 4-6 per cent annually till FY15 amid demand from new migrants as well as investors and continued expansion plans of many large IT, engineering and manufacturing companies based in the city, says a report. “The city’s residential demand is mainly led by growth and performance of the IT/ITeS sector,” rating agency ICRA said in a report.
Bangalore is currently contributing to 33 per cent of India’s IT exports and home to over 8 lakh IT/ITeS professionals, which accounts for about 55 per cent of the total demand of the organised real estate market, it said………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

China’s home price inflation may be steeper than official data suggest, with a near quadrupling of home sales in the capital last week after the government unveiled tax plans to curb speculation, a sign that investors have giant gains to lock in.
Pre-owned home sales in Beijing soared 280 percent year-on-year in the week of March 2-8, according to local government data, and were up 141 percent on the previous week………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

China’s real estate bubble is very real. It is driven by both private speculators and government development; and it is both a coastal and inland phenomenon.
Private speculators have treated real estate in China like a Pai Gow table in Macao. Buyers go to pawn shops for capital. Interest rates are usurious. Speculators own multiple properties. It all only works if prices keep going up — sound familiar?……………………………………….Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

Beijing’s strictest-in-the-nation property curbs are forcing up rents for about 7.7 million residents originally from outside of the city who are blocked from buying a home. The Chinese capital requires new arrivals to wait five years before purchasing a house, while cities including Shanghai permit ownership after one year of residency.
Beijing introduced restrictions on non-locals in 2011, followed by about 40 other cities, part of a three-year, largely unsuccessful campaign by the central government to contain the growth of property prices………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

Search for “Philippine property bubble” on Google and you’ll find plenty of news reports, in which real estate developers and banks assert that a property bubble is far from happening in the Philippines. The phenomenon is believed to be going on in other booming property markets, like China. But experts say that we are still safe from it.
A real estate bubble is characterized by rapid increases in valuations of real property until they reach extremely high levels, which are unsustainable, and then, decline. Bubbles can go on for years, with prices rising above reasonable and normal levels per annum, before eventually bursting and crashing. A common precursor to a looming property bubble is the excessive purchases of property for investment purposes (buy and sell), which contributes to the skyrocketing prices………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

The National Assembly’s Economic Committee in Vietnam recently revealed that it would not offer any further assistance to the country’s property market. “It is wrong for enterprises to think that the government will rescue them. With such high rates of bad debts, we can’t rescue the real estate sector even if we wanted to,” said Nguyen Van Giau, committee chairman.
Further government action might encourage reckless business. The real estate sector made up 19.25 percent of all banking bad debts as of September 2012, according to statistics published by the State Bank of Vietnam. This generated difficulties for Vietnam’s construction sectors according to a report released last week by the Committee………………………………………..Full Article: Source

Posted on 13 March 2013 by Laxman |  Email |Print

New Zealand house prices rose in February, edging back toward the record high set in December and highlighting the heating property market that’s likely to be concerning the central bank. The national median house price rose 7.6 percent in February to $382,000, still below the record $389,000 set in December, according to the Real Estate Institute. The median price for Canterbury/Westland rose 3.2 percent to a record $355,000.
The Reserve Bank is seeking feedback on proposals to introduce macro-prudential tools such as limits on loan-to-value ratios that would allow it to target pockets of heat without stifling the whole economy. Economists say governor Graeme Wheeler may give more detail of his thoughts and single out the housing market in his monetary policy statement on Thursday. (Press Release)

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