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Real Estate Briefing 14.Mar 2013

Posted on 14 March 2013 by Laxman |  Email |Print

Global property deals could exceed $1 trillion (669.88 billion pounds) this year for the first time since 2007, helped by growing confidence in North America and Asia and a greater appetite among sovereign wealth funds for real estate, a report said.
Property consultant Cushman & Wakefield said it sees global investment volumes rising 14 percent in 2013, after increasing to $929 billion in 2012. This would be the highest level since the year before the 2008 financial crisis when investors ploughed $1.25 trillion into property deals………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

A U.S. government effort to help struggling homeowners refinance into cheaper loans gained traction last year, helped by rising home prices and changes to the program that made more borrowers eligible for relief, a report released on Wednesday showed.
Nearly 1.1. million refinances were completed under the Home Affordable Refinance Program, or HARP, in 2012, more than double the year-earlier number, the report from the Federal Housing Finance Agency said………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Small- and mid-size homebuilders are aiming to become masters of their local market, reining in plans to expand nationwide that ultimately led many to fail when the housing bubble burst in 2007. The bigger players - companies like No. 3 homebuilder Lennar Corp and the market leader in luxury homes, Toll Brothers Inc - are entering the rental market as a growing number of Americans opt to live in rented accommodation.
“(Lennar and Toll) have the balance sheet to go out and attack opportunities that could provide a higher return than a single-family home,” said JMP Securities analyst Peter Martin………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Lots of real-estate funds that used piles of borrowed money to buy risky properties got crushed during the financial crisis. Now, buyout firm TPG Capital is offering a new twist while mining some of the same territory with its first real-estate fund.
The firm expects to start raising money in the second half of 2013 with a target of at least $1 billion, said people familiar with TPG’s plans. TPG officials acknowledged plans to raise a fund but declined to discuss specifics or timing………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Canada’s real estate bonanza of the past decade has come to an end and the long-term trend as one of the most profitable places to invest is also not encouraging, a new research paper from the TD Bank argues.
The “special report” from one of Canada’s largest banks makes the case that gains in housing prices have been exceptionally strong over the last 10 years, even when accounting for a sharp drop during the 2008-09 recession. But now is the time for a bit of a payback. The report does not predict a collapse in house prices as some analysts have suggested. In fact, it sees prices rebounding after a few years of a correction to as high as eight per cent………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Investors are increasingly warming to the logistics sector as sentiment cools on the retail property sector, according to CBRE’s Investor Intentions report published at MIPIM on Wednesday.
The 2013 survey revealed notable shifts in investor preferences between different sectors of the real estate market. As in 2012, offices were the single most preferred sector for purchases, chosen by 29% of investors………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Germany surpassed Britain as the most attractive European property market in 2013 as fading fears of a euro zone break-up encourage investors to venture back into the bloc, a report showed on Wednesday.
A survey by property consultant CBRE Group (CBG.N) of 362 investors, including some of the world’s largest fund managers, found that 35 percent picked Germany as the most appealing market, compared with 24 percent that chose Britain………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Focus on foreign investor relations will be intense when a large number of Danish real estate professionals visit Cannes to participate in Europe’s leading property fair MIPIM. When the large-scale European real estate event MIPIM takes place in Cannes on 12-15 March, efforts will be improved to attract foreign investors to the Danish property market, says development manager Jacob Saxild from Copenhagen Capacity, coordinator of the Danish share in the Copenhagen-Malmo MIPIM stand.
An increasing number of international investors have already spotted Copenhagen’s opportunities. Many property investors are cautious to invest in the Southern European economies and instead they look towards Northern Europe, particularly to Scandinavia. says Jacob Saxild………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

New research from DTZ shows Sweden regained its position as the most liquid1 European commercial property market in 2012 with turnover at 9% of its invested stock. Norway (8%) and the UK (6%) were ranked second and third most liquid markets in Europe in 2012 respectively.
They were followed by Poland (6%) and Germany (5%). Despite having the second-largest invested stock in Europe, France was only ranked as the 10th most liquid market………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Sweden has outstripped the UK as Europe’s most liquid real estate market as it emerges as a ’safe haven’ for European investors despite being only the eighth largest investment market with €108bn, according to DTZ.
Although the UK – more specifically, central London – remains the most attractive market for cross-border investors, it came in overall with 6% turnover compared with Sweden’s 9.2%………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Polish real estate investment volumes will reach €1 bn in the first half of 2013, property adviser Savills has predicted. According to research published by Savills at MIPIM, an active fourth quarter in 2012 resulted in Poland’s highest annual investment volume since 2006 at €2.7 bn, representing 8% year-on-year growth.
With activity expected across all property sectors, the adviser forecasts €1 bn will be transacted in the Polish commercial property market during the first half of 2013………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Poland is coming off the biggest construction boom in its thousand-year history and it does have a lot of roads to show for the effort – but there is one stark gap: Poland has not managed to produce any significant construction companies.
That was not the case in Spain, which underwent its own road construction boom that kicked off when it joined the EU in 1986. A new report by conultants Ernst & Young takes a closer look at just what went wrong in Poland compared to the Spanish experience………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

A real estate fund of funds set up by Pohjola Property Management Ltd called Real Estate Debt and Secondaries Ky (REDS) has accumulated EUR 100 million at the first closing. The funds will be invested in international real estate funds’ secondary interests, real estate loan funds and other investment instruments that specifically utilise the real estate market situation.
According to Markku Makiaho, Managing Director of Pohjola Property Management Ltd, the fact that REDS was set up is a sign of a gradual change in the market situation. “Finnish institutions are again prepared to invest in foreign real estate through funds and other indirect investment instruments,” says Mr Makiaho………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Bank Austria sees anti-cyclical investment opportunities in the Czech Republic and CEE. The Czech Republic offers a low country risk and transparent real estate market. According to Reinhard Madlencnik, the head of Real Estate at Bank Austria, “Real estate investors and developers are running the risk of missing important anti-cyclical opportunities. At Bank Austria, we are ready to continue offering financing.”
Bank Austria’s real estate segment generated around EUR 1.5 billion in new business in 2012. The goal for 2013 is to maintain this volume, if not improve it. According to Madlencnik, “UniCredit’s outstanding CEE network enables us to apply our expertise in Austria and also use the local know-how of UniCredit Bank Czech Republic to provide our customers with comprehensive service.”…………………………………Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

The total value of private equity investments in real estate rose 7% in 2012 to Rs.6,200 crore, according to the latest Real Estate Investment Market Report from consultant Cushman and Wakefield, amid a slowdown in the sector. In terms of value, most of the investments were in ready income generating and operational office assets, up 34% to Rs.3,230 crore, according to the report.
“Investment in ready income generating/operational office assets have gained strength over the last few years due to lower risk and steady cash flows associated with this type of investment. With an increase in the number of high-value transactions in this sector, the market is moving towards a mature phase,” said Sanjay Dutt, executive managing director (South Asia), Cushman and Wakefield………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Asian markets were lower on Wednesday, with concerns over the Chinese property market pulling down stocks in Hong Kong and Shanghai. Stocks in mainland China remained weak, with the Shanghai Composite down 1% to 2263.97, its fifth consecutive session of losses, as sentiment in the market remained weak after the latest set of Chinese economic data showed a moderation in the recovery of Asia’s largest economy, and amid renewed government efforts to control the property market.
Concerns over the property market were stoked on Wednesday by local media reports saying that Shenzhen has imposed price curbs on developers: China Vanke dropped 2.4% in Shenzhen and Poly Real Estate Group lost 3.8% in Shanghai………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Property prices in Hong Kong are likely to rise for the rest of 2013 following a short term correction of ten percent, according to a recent report by property consultancy firm Colliers. Colliers also predict that potential buyers will bear greater transaction costs in order to enter the market as the expectation of returns is sustained by positive aspects of the macro-environment.
Colliers predict a shift in demand from the sales to leasing market as potential buyers react to the latest property cooling measures. Rental rates are likely to increase as a result of higher demand and boost capital values, which will achieve the opposite effect than was intended by the latest measures, according to Colliers………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

HSBC Holdings Plc increased Hong Kong mortgage rates for the first time in 18 months after the city’s banking regulator tightened risk rules on concern a property bubble may undermine financial stability.
Home loans priced at the best lending rate will rise to a range of 2.85 percent to 3.15 percent, from 2.6 percent to 2.9 percent, starting tomorrow, according to an e-mailed statement from the bank. The increase is the first since September 2011, Yvonne Chuang, a Hong Kong-based spokeswoman for the second- largest mortgage lender in the city, said…………………………………Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Luxury Thai property is increasingly finding itself in high demand, according to Knight Frank’s Prime International Residential Index. The Global Property Guide reported that despite floods in the popular destination of Bangkok, the city saw real estate growth of 9.4 per cent in 2012. Phuket also enjoyed a relatively strong year in the luxury market, up 4.7 per cent to increase the supply availability and return on investment for the city.
Condominiums in Bangkok are proving particularly popular. Knight Frank claims that out of 27,084 units launched in the first half of 2012, 16,810 were purchased. This amounts to a take-up rate of 62.07 per cent, from 50.2 per cent in the second half in 2011. Prices have also risen in line with this surge in demand, with condominium values rising by 3.5 per cent from the end of 2011………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

Home loan approvals have fallen for the fourth consecutive month, but there are signs the housing sector will improve in 2013 as consumer confidence picks up. The number of home loans approved in January fell 1.5 per cent, but their value rose 2.4 per cent, the Australian Bureau of Statistics found.
However the outlook seems to be brighter with the Westpac/Melbourne Institute index of consumer sentiment, also released on Wednesday, hitting a two-year high in March. HSBC Australia chief economist Paul Bloxham said recent interest rate cuts by the central bank were yet to take effect on the housing market………………………………….Full Article: Source

Posted on 14 March 2013 by Laxman |  Email |Print

A national housing recovery may be facing a new hurdle, with first-home buyer mortgage commitments sliding to record lows in some states, according to the latest figures from the Australian Bureau of Statistics. Between December 2012 and January 2013, first-home buyer commitments slipped by 11 per cent, sparking concerns that the Australian housing market will continue to face strong headwinds if the trend is not reversed.
The number of first-home buyers as a percentage of total owner-occupied housing commitments remained steady at 14.9 per cent in January, but this has decreased steadily since September, when it sat at 19.4 per cent………………………………….Full Article: Source

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