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Real Estate Briefing 10.Apr 2013

Posted on 10 April 2013 by Laxman |  Email |Print

Investors’ on-and-off relationship with global real estate appears to be on again. With long-distressed real estate assets now on sale in Europe and big opportunities also being seen in Asia, the sector has caught the attention of individual investors and financial advisers, said Adam Taback, president of alternative strategies at Wells Fargo Private Bank.
It’s not for the faint of heart, however. Global real-estate stock funds suffered a gut-wrenching 46.6% loss on average in the crisis of 2008, then recovered to gain nearly 37% and 17.2% in 2009 and 2010, respectively, according to Morningstar Inc………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

Commercial real estate continues to rank high on the list of acquisitions for investors around the world as preliminary global real estate investment volumes in the first quarter of 2013 reached R838 billion (US$94 billion).
That’s according to Jones Lang LaSalle capital markets research from 60 countries. The real estate investment volumes in Q1 2013 represented an 8 percent increase over the same quarter in 2012. Improving confidence in the global economic recovery and a continued demand for direct real estate exposure continue to push volumes higher with Germany, Japan, and the United States all finishing the quarter strong………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

Bank of Nova Scotia Chief Executive Rick Waugh said on Tuesday that mortgage delinquencies have risen at Canada’s third-biggest bank, but that he does not foresee a U.S.-style housing crash. “We still anticipate what I would call in terms of housing, a soft landing, and all the metrics which we watch daily confirm that,” Waugh said.
His comments, part of an answer to a shareholder question about risks for the bank from the domestic housing market, came as data showed Canadian housing starts edged higher in March, offering some reassurance that the housing market is cooling rather than crashing………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

For years, thick clouds hovered over the nation’s housing market, casting a pall of gloom over homeowners and sellers. But recently, the sun has broken through with mortgage rates being at an all-time low and prices appreciating again.
That is good news. But don’t get too excited, cautions J. Andrew Hansz, director of the Gazarian Real Estate Center at California State University in Fresno. Hansz says it will be “a very long time” before prices return to 2005 levels, and warns that the market is likely to see many ups and downs in the future………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

Real estate has finally started to bounce back across the country — even roar back in some places. Low mortgage rates and pent-up demand have coaxed buyers back into the market, and homeowners who list their houses are seeing more traffic. That quaint relic of the bubble, the bidding war, has even started to re-emerge in some cities.
Consider the mounting evidence that the long national real estate nightmare is over: During the past year, home prices increased in 92 of the country’s 100 largest metropolitan areas, according to data provider CoreLogic, with prices rising as high as 23 percent in Phoenix and 17 percent in San Francisco. Sales volume rose in 69 of the top 100 markets, and 35 of those showed double-digit gains………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

Chinese people have developed a new craze: real estate investment. The sale of “one-dollar villas” in the United States as a result of the subprime crisis a couple of years ago prompted some Chinese investors to go bargain hunting across the Pacific. Now Detroit, which is on the verge of bankruptcy, has lured Chinese “realty hunters” with its “low property prices”.
But the enthusiastic comments and conjectures that online discussions have generated over the development are devoid of a real understanding of the situation. Even if the annual property tax charged by the US government is ignored, the socio-economic factors involved in such ventures make investing in real estate in Detroit a “no deal”………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

Growing appetite for listed property exposure since the onset of the global financial crisis has led to a surge in real estate securities funds. This is because a property allocation gained through the listed sector plus the attractive income returns appeal to a broader range of investors, according to the European Public Real Estate Association (EPRA).
Assets under management of real estate securities funds grew 68% to $250 bn (€192 bn) from 2007 to 2012, according to research by consultancy company Consilia Capital and Property Funds Research for EPRA.The findings show that the number of real estate securities funds increased 39% to 677 over the same period………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

Central and Eastern Europe, including Russia, has seen the highest first-quarter real estate investment volumes in five years, CBRE reported. The total investment volume for the region reached €2.6 bn for the first three months of 2013. This is three times the level achieved during Q1 2012 and the highest first-quarter result since 2008, CBRE said.
The most active markets were Russia (€1.8 bn) and Poland (€400 mln), although the smaller economies within the CEE region have also seen an increase………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

The Euro zone is currently undergoing a critical phase as several issues emerge with time. The persistent debt crisis in the continent, along with the war between currencies, and the recent signs in the economy, has signified the beginning of another recessional phase in many European countries, particularly those located around the Mediterranean Sea.
With unemployment and other factors threatening to further damage the economies in Europe, the real estate market is expected to suffer in 2013. However, real estate experts in many European markets believe that the sector may in fact perform well in the months to come………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

Activity in the UK housing market has hit a three-year high, surveyors report, supporting hopes of a revival that would help the economic recovery. Chartered surveyors handled an average of 17.4 home sales over the last three months, according to the latest monthly survey by industry body RICS. That was the highest number reported since March 2010 and meant sales rates have been rising for three consecutive months.
Surveyors also said demand improved, as a net balance of 11pc reported rises in enquiries from new buyers, compared with those who reported a fall. This marked the strongest reading since October, after a subdued start to the year. Researchers speculated this could be due to the improving affordability of mortgages………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

Sales of houses and flats hit a three-year high as the property market begins to recover from the credit crisis, according to the Royal Institution of Chartered Surveyors.
RICS members reported selling an average of 17.4 homes during the previous three months, the highest number since March 2010. Last week Halifax, Britain’s biggest mortgage lender, said house prices increased by 1.2pc in the first three months of this year; their fourth quarterly advance………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

The attractiveness of Central London commercial property as a safe haven for international investors was evidenced again in the first quarter of 2013, with a total of £2.75 billion (approx. € 3.22 billion) deals transacted, according to Cushman & Wakefield.
Of this total value of transactions, 71% was accounted for by acquisitions from overseas investors. The total was down significantly on previous quarter reflecting the lack of available stock which has restrained investment volumes particularly in the West End………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

A consortium of mostly German institutional investors led by property manager Patrizia Immobilien is paying €2.45 billion ($3.19 billion) for GBW, a listed portfolio of more than 32,000 apartments in Munich and around Bavaria. Patrizia says the equity investment should initially yield 4% to 4.5%, which is toward the low end for residential property in Germany. But even at these levels, the deal looks good given the strength of Munich’s property market.
Condominium prices in Munich rose 17% last year, according to Jones Lang LaSalle. And the boom likely has further to run. Munich is already the most densely populated of Germany’s major cities, while economic growth is attracting some 30,000 people to the city each year………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

There may be trouble ahead for French property, with reports suggesting key indicators fell throughout 2012. The Global Property Guide reported that the country is struggling to bring down its sky-high unemployment rate and budget deficit.
This is harming the health of the real estate market and the National Institute for Statistical and Economic Studies has noted a 1.63 per cent fall in house prices in Metropolitan France compared to 2011 levels - the third consecutive year of annual declines. According to the news portal, when adjusted for inflation values dropped by 3.12 per cent, with a 1.27 per cent quarter-on-quarter rise in Q4………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

In March the Baku real estate market observed a price decline by 0.8%. At that, the prices grew by 0.8% against early 2013 and by 3.27% versus the 2012 same term. MBA Group consulting company’s general director Nusret Ibrahimov says that in March prices on the primary housing market of Baku decreased by 0.87% from $992 up to $914 per sq m and by 4.82% against last year’s same term.
“Prices on the secondary housing market grew by 0.44% from $1,575 up to $1,582 per sq m. Prices increased by 4.91% against early 2013 and by 10.48% versus last March. Growth of prices was registered in March on the land market of Baku where they increased by 3.36% from $18,409 up to $19,026 per are,” Ibrahimov said………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

The year-on-year growth in the average value of homes in some categories of the middle segment of South Africa’s residential property market appeared to have reached “an upper turning point”, Absa Home Loans property analyst Jacques du Toit said .
As expected for some time, base effects and slowing monthly price growth since mid-2012 had caused year-on-year price growth to start moderating, he said. Absa’s latest house price index revealed that middle-segment house prices last month grew year on year by 11.8 percent after rising by a revised 10.9 percent in February………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

The Chinese government is doing what it can to continually poke holes in the country’s housing bubble. It appears they have been successful this time around in Beijing. When it comes to existing housing sales in the city, the market has been put on ice.
At least for the time being. Pre-owned home transactions in the city declined by as much as 70% in the first week of April following the government’s newest weapon in its anti-bubble artillery, a 20% tax on used home transactions………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

China’s major property developers are grabbing bigger market shares, and higher revenues from the market reshuffle brought about by tightening policies, according to the latest real estate industry statistics. In the first quarter, the nation’s top 10 property developers by sales revenue had a 14.88 percent market share, up from 14.28 percent a year ago, according to a report released on Tuesday by China Real Estate Information Corporation.
Expanding market shares have resulted from the rising sales revenue of these heavyweight developers. Each of the top 10 generated more than 11 billion yuan ($1.77 billion) in the first quarter, with China Vanke Co Ltd taking the lead………………………………………..Full Article: Source

Posted on 10 April 2013 by Laxman |  Email |Print

Australian home prices will see a modest improvement as consumers remain conservative about their level of indebtedness, Westpac Banking Corp. (WBC) and National Australia Bank Ltd. (NAB) forecast.
“We’re not looking for another huge surge in prices or activity that we saw in, say 2009, or that we saw in 2001,” Bill Evans, chief economist at Westpac, said at the Bloomberg Australia Economic Summit in Sydney today. “The housing market will improve but it won’t improve to the point that people are becoming over-leveraged or we’d start to see real issues in our loan book.”……………………………………….Full Article: Source

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