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Real Estate Briefing 28.Mar 2013

Posted on 28 March 2013 by Laxman |  Email |Print

Robust economic recovery continues to keep luxury property markets going, turning them into quite an immune investment. Housing markets around the world including London, New York, Paris, San Francisco, Los Angeles and Hong Kong have got off to a strong start this year, reports indicate.
Christie’s International Real Estate, a high-end property affiliate network under Christie’s auction house, has launched a new index that compares world real estate markets by different metrics - including sales price, prices per square foot and percentage of foreign buyers, among others. London topped the index with a record sales price of more than US$121 million (HK$943.8 million) for a home last year………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

Americans signed fewer contracts to buy previously owned homes in February, indicating a pause in momentum for an industry that is helping power the economy.
An index of pending home sales fell 0.4 percent to 104.8, the second-highest level since April 2010, after a revised 3.8 percent increase the prior month, the National Association of Realtors reported today in Washington. Contract signings, unadjusted for seasonal variations, increased 5 percent from February 2012………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

Following the past several months of a constant increase, today the Case-Shiller report documented what many industry professionals and consumers were too skeptical to say. The housing market is stronger than ever, certainly since the bottom fell out of the market in 2006 and created the worse housing crisis many Americans have experienced in their lifetime.
Properties no longer sit idle on the market. Today’s numbers reflected housing sale improvements of 7.800%, month over month. This is huge!……………………………………….Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

The nation’s housing market is continuing its resurrection, with data released Tuesday showing that prices are up, the number of distressed properties is down and new home sales remain far above last year’s pace. Home prices rose in January at the fastest annual rate since just before the housing bubble burst in 2006, according to the S&P/Case-Shiller Home Price Indices.
The 20-city home price index, a key gauge of U.S. home prices, climbed 8.1 percent in the 12-month period that ended in January. The healthiest gains were in parts of the country hardest hit by the housing downturn. Prices in Phoenix were up 23.2 percent. San Francisco home prices were up 17.5 percent. Prices increased 15.3 percent in Las Vegas and 10.8 percent in Miami………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

For years, it seemed like the housing market would never turn around. However, recent data indicates that the U.S. is finally in the midst of a housing recovery. But have investors missed out?
Pointing to a recovery: New home purchases recently spiked to numbers we’ve not witnessed since 2008. Builders are constructing new homes at a pace not seen since five years ago, and building permits, considered a leading indicator of construction, are nearing a five-year high………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

The housing market has rebounded in a big way, with home prices increasing the most since the housing bubble burst in 2006. Prices aren’t the only indicator pointed toward recovery.
Housing barometers including sales, permits and housing starts have surged well beyond their recession troughs and back into healthy territory - and bullish analysts say there’s plenty more room for growth after years of decreased activity………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

Remember that mob psychology dominates all asset purchases. It doesn’t matter if you are buying stocks bonds, precious metals or real estate. Last year Apple could do no wrong. If you didn’t own it, well, you were missing the most amazing stock. How could you not own it? The drumbeat was constant creating a bubble.
Then, abruptly, the music stopped as the hedge funds who were supporting Apple into their fiscal year end on October 31st, began to bail out. Right now the debate is over how low might Apple fall, how well can Tim Cook run the company and will they ever have another good idea. The asset class matters little. It’s all about human nature and not wanting to miss out on easy money………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

It’s tough to make a pan-Canadian call on where real estate will land in 2013. The Prairie provinces seemed poised to avoid the downturn but sales are starting to fall in many markets with a price dip happening already or predicted to be on the horizon.
All this is happening with five-year fixed closed mortgage rates below three per cent, even at some of the big banks. The 10-year mortgage, still not popular with Canadians, is down to 3.64 per cent. It’s not a stretch to think the rate on both of those terms will climb two percentage points. And what of the prime lending rate? It’s still three per cent but tied to the Bank of Canada, which has been threatening to raise rates for months………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

The sale of two office buildings in central São Paulo may sound like a rather insignificant event in the scale of things. However, Standard Life’s decision to sell the two properties, marking an exit of the British insurer’s real estate fund from Brazil, could be a bad omen for the country’s property market.
Standard Life Investments Select Property Fund said on Wednesday it had sold its two remaining assets – Madison Building in Vila Olímpia and Bela Paulista Building on Avenida Paulista – for a combined total of R$181m ($90m) to a domestic fund manager………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

Unloved and tarnished – Europe’s crisis-hit market for assets backed by commercial mortgages is now only a fraction of its 2006 peak.
Only a handful of new borrowers have issued commercial mortgage-backed securities since the US subprime crisis and the picture in Europe painted by some bankers is of a product in terminal decline – penalised by regulators and hated by politicians………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

George Osborne exceeded industry expectations in last week’s Budget by pumping more than £15bn into a housing market stimulus. But economists fear the measures could do more harm than good.
Last week’s “housing giveaway” Budget by chancellor George Osborne has already been described as “economically insane” and “a huge gamble” by some economists. But the measures the chancellor was able to unveil - both a £3.5bn deal to provide equity loans for newly built homes, and a £12bn extension of mortgage guarantees - left housebuilders unable to believe their luck. Most of the listed players’ share prices were more than 5% up on the day - gains that they have so far kept………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

The government of south China’s Guangdong province on Monday announced rules to cool the property market after the central government rolled out a regulatory plan and asked provincial governments to create specific measures. The rules, however, have been criticized for being too vague and unable to function properly.
Guangdong’s provincial government said in a notice that housing prices will be curbed, government-subsidized housing will be built more quickly and housing data will be pooled in order to boost market supervision………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

The combined net profits of 36 listed real estate companies to release complete financial reports was 29.9 billion yuan ($4.81 billion) in 2012, up 22% year on year.
Early last year, analysts and developers were conservative in their predictions for the year as housing curbs enacted by the government in January 2010 made it difficult to sell homes. Developers were also having a hard time buying plots of land due to inadequate cash flow………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

Real estate has lost its allure as an investment option in Wenzhou, Zhejiang province, since property prices tumbled due to purchasing curbs imposed by the central government. The average price of residential apartments in Wenzhou has dived by about 24 percent since 2012, according to the latest figures from the city’s prices bureau.
In addition, the average price of land has dipped to a five-year low, while the value of some villas has fallen by 50 percent since 2010. Business people from the city, one of China’s wealthiest, are well-known for their speculative activities in various sectors, especially the property market………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

Nearly half (45%) all real estate investment into the Asia Pacific region is flowing into Australian commercial property markets. This is double the next biggest markets of Japan (19% of investment) and China (18), according to Jones Lang LaSalle, with investors attracted to Australia by its transparent markets, efficient regulatory regimes supported by solid economic fundamentals and relatively high yields.
Offshore buyers of Australian commercial property are now around four times greater than those selling their investments, a trend that commenced in 2007 and which has grown more pronounced in the last three years………………………………………..Full Article: Source

Posted on 28 March 2013 by Laxman |  Email |Print

Nearly half (45%) all real estate investment into the Asia Pacific region is flowing into Australian commercial property markets. This is double the next biggest markets of Japan (19% of investment) and China (18%), according to Jones Lang LaSalle, with investors attracted to Australia by its transparent markets, efficient regulatory regimes supported by solid economic fundamentals and relatively high yields.
Offshore buyers of Australian commercial property are now around four times greater than those selling their investments, a trend that commenced in 2007 and which has grown more pronounced in the last three years………………………………………..Full Article: Source

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