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Real Estate Briefing 17.Apr 2013

Posted on 17 April 2013 by Laxman |  Email |Print

U.S. builders broke ground in March on homes at a seasonally adjusted rate of 1.04 million, the fastest since June 2008. The gain was driven by a surge in apartment construction and showed continued strength in the housing market at the start of the spring buying season.
The Commerce Department says that builders increased their construction pace by 7 percent in March from February. Apartment construction jumped 31.1 percent to a seasonally adjusted rate of 392,000 — the fastest pace since January 2006. Single-family home construction, which represents nearly two-thirds of the market, fell 4.8 percent to a seasonally adjusted 619,000. That was down from February’s pace of 650,000, which was the fastest pace since May 2008……………………………………Full Article: Source

Posted on 17 April 2013 by Laxman |  Email |Print

The housing crash of 2007-2008 that spilled into the great financial crisis is not news to any investor. Many are familiar with the devastating effects that collapse of the over-leveraged housing market had on the lives of individuals around the country.
However, despite all of the negativity in the nationwide housing market, one city has been booming in particular. With average capitalization rates form buildings near 20 year lows and new development around the city, this location has been a developers dream city. But this dream may become a nightmare very quickly… Which city is this that is booming so rapidly, that is attracting hot money from big developers all around the country? No, it is not New York or San Francisco, and it’s not some glitzy suburb of silicon valley……………………………………Full Article: Source

Posted on 17 April 2013 by Laxman |  Email |Print

The housing market looks primed for a spring bounce as first-time buyers return in force and increasingly confident sellers start hiking prices. The average UK asking price has just hit £244,706, up £15,717 since the start of the year, according to new figures from Rightmove, with the biggest rises outside London.
First-time buyers are streaming back into the market, with an extra 3 per cent in February alone, the best start to a year since 2008 according to the Council of Mortgage Lenders. Numbers are up 17 per cent on 12 months ago……………………………………Full Article: Source

Posted on 17 April 2013 by Laxman |  Email |Print

Grosvenor Group Ltd., the real estate company owned by the Duke of Westminster’s family trusts, said it’s looking to buy rental properties for middle-income tenants as London’s five-year luxury-home boom may be ending.
Grosvenor will target rental-home purchases because the value of luxury properties may climb at a slower rate, Chief Executive Officer Mark Preston said in a telephone interview today. The London-based company may partner with pension funds in the investments, he said……………………………………Full Article: Source

Posted on 17 April 2013 by Laxman |  Email |Print

The property market boom in Switzerland, driven in part by historically low interest rates, leaves the economy highly vulnerable and needs to be carefully monitored, Swiss National Bank Vice Chairman Jean-Pierre Danthine said Tuesday.
“Swiss real-estate prices have been increasing since 2000, and at an accelerated speed since 2008, reaching levels about 40% to 60% higher than 12 years ago,” Mr. Danthine said in a speech to be given Tuesday. The vice chairman’s speech was largely concerned with the risks of rapid credit growth in Switzerland, rather than the SNB’s current monetary policy……………………………………Full Article: Source

Posted on 17 April 2013 by Laxman |  Email |Print

There were no large fluctuations of prices for property in January-March 2013 in Ukraine, and the average housing price on the secondary market in Kyiv at the end of the first quarter of 2013 came to $1,800 per square meter. This information was presented by representatives of the Association of Realtors of Ukraine (ASNU) at a press conference at Interfax-Ukraine on Tuesday.
“The prices on the secondary market have not changed for around a year if we take the prices in Ukraine… [and] prices are stable today on the primary market too,” Head of the Information Technologies, Services, Analytics and MLS Committee at the Association of Ukrainian Realtors Eduard Brazas said……………………………………Full Article: Source

Posted on 17 April 2013 by Laxman |  Email |Print

Sale prices of prime Abu Dhabi residential properties rose by 8 percent in the first quarter of 2013, according to a report from Jones Lang LaSalle (JLL).
The real estate services firm’s latest Abu Dhabi Market Overview Report found that average asking prices within investment areas increased to AED12,000 per sq m for villas and AED9,900 sqm for apartments……………………………………Full Article: Source

Posted on 17 April 2013 by Laxman |  Email |Print

A market report finds that an estimated 40,000 new homes will be available for buyers in Dubai over the next two years. Published by consultants Jones Lang LaSalle, the report shows that a number of new properties will be developed between 2013 and 2015, which would account for 11 percent of the 357,000 units envisaged by developers.
Those figures suggest that the emirate’s real estate market has made a strong comeback as developers start to revive projects that were abandoned in the aftermath of global financial crisis. After reaching its peak in 2008, property prices fell by as much as 50 percent as investors quickly retreated from the scene……………………………………Full Article: Source

Posted on 17 April 2013 by Laxman |  Email |Print

The Delhi-National Capital Region (NCR) residential market seems to be going slow on new launches, with the segment witnessing a 31 per cent dip compared with the second half of fiscal 2012-13.
A report by property portal Knight Frank India says developers are struggling with liquidity crunch due to project delays, while consumer confidence is marred due to higher interest rates, inflation and the current economic outlook……………………………………Full Article: Source

Posted on 17 April 2013 by Laxman |  Email |Print

All real estate markets are local, says the industry axiom, one that China’s central government is painfully aware of as its efforts to rein in home prices are undermined by uncooperative municipal authorities.
Former Premier Wen Jiabao, in his final endeavour to make housing affordable, set an April 1 deadline for higher down payments and interest rates for second-home loans in cities with “excessively fast” price gains and ordered stricter enforcement of taxes on sales. Thirty-five provincial-level cities responded with measures insufficient to curb prices that climbed 150% from 2003 to 2012……………………………………Full Article: Source

Posted on 17 April 2013 by Laxman |  Email |Print

Developers will suspend sales of unsold flats at more than 30 new residential projects next week to comply with a new law requiring them to specify the size of flats in all their marketing material as well as provide additional information on the developments.
Under the new law governing sales of new homes due to take effect on April 29, developers are required to provide comprehensive information on their projects, including the “saleable floor area”, a detailed location plan of the development, and the name of every street that is situated within 250 metres of the boundary of the project……………………………………Full Article: Source

Posted on 17 April 2013 by Laxman |  Email |Print

Investing in Tokyo apartments beat putting money into office buildings, malls and the domestic stock and bond markets over the past five years as a housing shortage cushioned rental incomes from years of deflation.
Apartment real estate investment trusts produced the best returns, adjusted for price swings, of Japanese REITs in the five years through March, the BLOOMBERG RISKLESS RETURN RANKING shows. Daiwahouse Residential Investment Corp. (8984) led all REITs with a 5.5 percent risk-adjusted return, followed by Advance Residence Investment (3269) with a 5.4 percent gain……………………………………Full Article: Source

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