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Real Estate Briefing 18.Apr 2013

Posted on 18 April 2013 by Laxman |  Email |Print

Real estate funds announced $6.5 bn (€4.7 bn) of capital commitments globally during March, according to online fund community Indirex. Globally, 54 announcements were reported in March, with 37 of these involving new equity commitments.
North America attracted over half of the cash with Europe taking 16% and Asia 12%. In Europe, 11 announcements were made with four pertaining to capital commitments. The largest was the $500 mln first closing of La Banque Postale Asset Managements’ Infrastructure Debt fund…………………………………..Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

Perhaps nothing is as emblematic of the Canadian housing boom of the past decade as the hundreds of high-rise condo towers currently under construction across the country. Indeed, the story of Canada’s decade-long explosion in housing is to a large degree the story of a construction boom in the condo sector.
But that boom now appears to be coming apart at the seams leaving many wondering what’s in store for the condo markets in Canada’s largest cities…………………………………..Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

Nationwide home prices are up 8% over the last year, according to the Case-Shiller housing index. This isn’t surprising. The supply of existing homes for sale is at a seven-year low. Construction of new homes is still well below the rate of household formation. Prices will almost always rise in that situation. It’s simple supply and demand.
And it’s pulled millions of homeowners out from being underwater on their mortgage and brought new hope to the housing industry, boosting shares of D.R. Horton and NVR as the outlook for construction rises. ………………………………….Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

With the U.S. housing market recovering, some investors are looking across the Atlantic for opportunities in the U.K. housing market, as well. U.S. investors contributed more than 50% of the £200 million ($307 million) raised last month in an initial public offering by Countrywide PLC, the U.K.’s largest residential brokerage, according to people who worked on the deal.
Oaktree Capital Management LLC is now a majority shareholder of Countrywide, which relisted on the London Stock Exchange after a six-year stint as a private company…………………………………..Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

The UK housing market has been at the sharp end of the recession. Prices have fallen by 18% from the August 2007 peak and the number of transactions is running at half the levels seen before the financial crisis. Housebuilding has collapsed. In 2011/12 the number of new homes built fell to the lowest level since 1923.
Yet despite the decline in prices UK housing still looks relatively pricey on a long-term basis. The price of an average house in the UK, at £172,000, is now 4.5 times annual earnings…………………………………..Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

German property funds tracked by UK performance analysis group IPD outperformed global and Europe-focused property investment vehicles in the year to March 2013, returning 2.3 percent as against -1.0 percent for global and -0.3 percent for European property funds, IPD said in its monthly assessment of the sector. The report also showed that inflows surpassed outflows from liquidating property funds, indicating a return of investor confidence in Germany’s real estate market.
According to the IPD German Monthly Open Ended Funds Index OFIX, over the past year only German-allocated funds outperformed inflation, 1.4 percent in the 12 months to March, while European and global sub-indexes returned losses in both real and nominal terms…………………………………..Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

Strong investor demand for German residential property lifted both the volume and number of traded units in the first three months of 2013. Figures published by Savills indicate 68,600 housing units traded in Q1 this year, generating a total volume of just under €3.8 bn and representing 5% growth year-on-year.
The number of units sold rose 3% compared with the first quarter of 2012, marking a five-year-high, according to Savills…………………………………..Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

According to Savills latest Netherlands property market report, retail investment in Q1 2013 reached approximately €160 million, representing an increase of 30% on the same period last year, at €122 million. Key transactions included the sale of five shopping centers for a total of €70 million and the purchase of five supermarkets for €20 million.
Clive Pritchard, director of investment at Savills Netherlands, comments: “Retail investment performed very well in the Netherlands property market so far this year and we predict that it is set to continue as investor interest remains strong. Total volumes in the sector could reach €1 billion by the end of the year, beating last year’s total of €885 million.”………………………………….Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

Dutch retail property investment reached €160 mln in Q1 2013, representing an increase of 30% on the €122 mln recorded in the same period last year.
According to Savills’ latest Netherlands property market report, key transactions included the sale of five shopping centres for a total of €70 mln and the purchase of five supermarkets for €20 mln…………………………………..Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

On Tuesday, the centre-left government of Victor Ponta adopted the property restitution bill designed to help families whose land or dwellings were confiscated by the previous communist regimes.
Ponta had said recently, the property restitution bill “we have drafted aims finally to find a solution to long-delayed problem of property restitution in Romania.” According to Associated Press, more than 200,000 such claims exist, and the law passed complies with a demand by the Council of Europe to repair such historical wrongs. The people who lost their fortunes will be entitled either to reclaim them or to get government compensation…………………………………..Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

Custodian of the Two Holy Mosques King Abdullah has issued orders to grant citizens plots of land that have already been developed to build houses, and loans to construct houses on that land. The directive follows an earlier order of the King allocating SR250 billion to build 500,000 housing units for citizens without a home throughout the Kingdom.
Minister of Housing Dr. Showaish Al-Dhuwaihi said that the King’s new order shows his keenness to make available adequate housing facilities for citizens. King Abdullah ordered the Ministry of Municipal and Rural Affairs to immediately hand over all government land designed for housing purposes to the Ministry of Housing…………………………………..Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

Residential and commercial rents in Abu Dhabi are expected to drop further as homes and offices are built four years after the credit crisis roiled the United Arab Emirates’ real estate market, according to CBRE Group Inc. (CBG)
“The impact of sustained growth in overall housing stock is reflected in the continued decline of lease rates and reduced tenant loyalty amidst abundant and more affordable options,” Matthew Green, the Los Angeles-based broker’s head of U.A.E. research, wrote in a report………………………………….Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

Blackstone Group is upping the ante in Asia, looking to raise the largest real-estate fund ever devoted to the region at a time when economic growth there shows signs of slowing. The private-equity giant, which has become one of the world’s biggest real-estate investors, plans to raise up to a $4 billion real-estate fund exclusively focused on China and other Asian markets, according to people with knowledge of the matter.
The target amount for the fund, which will be Blackstone’s first devoted to Asia, is twice what the firm initially indicated it intended to raise. It also would be the largest Asia property fund raised, according to data tracker Preqin…………………………………..Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

China can face a similar or even bigger financial crisis than the United States if the local Government debt remains out of control for long, says a Senior Chinese auditor Zhang Kew Hoc, who is also the vice chairman of China’s accounting association, report CNBC.
Zhang Ke said that his accounting firm Shine Wing, due to mounting concerns, is not signing off on bond sales by local governments. Zhang said that they audited local government bond issues, which was full of risks. “Most don’t have strong debt servicing abilities. Things could become very serious” he said………………………………….Full Article: Source

Posted on 18 April 2013 by Laxman |  Email |Print

Australian businesses may be doing it tough, but at least real estate agents are feeling pretty good. A survey of property industry sentiment shows confidence has risen to its highest level in 18 months. That goes against the wider trend in business sentiment, which remains stuck at below-average levels.
And there’s good reason for real estate agents feeling positive: house prices are increasing and investors and owner-occupiers are starting to borrow more. Property Council of Australia chief operating officer Ken Morrison says there is a feeling would-be buyers are returning to the market after a tough couple of years…………………………………..Full Article: Source

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