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Real Estate Briefing 24.Apr 2013

Posted on 24 April 2013 by Laxman |  Email |Print

Sales of new U.S. homes advanced in March as near record-low mortgage rates helped the industry complete the strongest quarter since 2008, putting the economy on firmer footing.
Purchases of single-family properties climbed 1.5 percent last month to a 417,000 annual pace, Commerce Department figures showed today in Washington. The median estimate of 76 economists surveyed by Bloomberg called for March sales to rise to 416,000………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

Housing’s long-awaited recovery has him recalling his younger days. About “18 months ago, the industry was nothing much to look at: dilapidated foreclosures were flooding the market, home equity had suffered the worst retrenchment in a generation, and housing starts and sentiment were far below historic troughs levels. But after stabilizing in 2012, both new and existing home prices are now accelerating much more rapidly than in the 1990s cycle.”
Mr. Kim tells Developments that his dad gave him the vehicle and the engine cracked after it was driven too hard………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

U.S. house prices rose 7.1 percent in the year through February, the biggest gain since 2006, indicating a solidifying recovery as buyers compete for properties amid tight inventory.
Prices climbed 0.7 percent on a seasonally adjusted basis from January, the Federal Housing Finance Agency said in a report today from Washington. That matched the average estimate of 16 economists, according to data compiled by Bloomberg………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

U.S. house prices rose 7.1 percent in the year through February, said the Federal Housing Finance Agency (FHFA) on Tuesday, indicating an increasingly confirmed recovery as many other housing indicators also suggest that the rebound in homebuilding activity is on firm footing.
The overall U.S. economic activity, however, signal some moderation in the first quarter of this year, partly due to the impact of government spending cuts under the sequester………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

The housing market continued to trudge towards a recovery in March, with rising construction starts and falling foreclosure and delinquency rates bringing market conditions closer to those of a balanced one, according to Trulia’s Housing Barometer.
The barometer summarizes three key housing market indicators — construction starts, existing home sales, and the delinquency-plus-foreclosure rate — looking at how current conditions compare to those recorded at the depths of the housing crisis and those recorded before the housing bubble………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

This was driven by growth in shopping center investment, which rose by 85% year-on-year to almost €4.0bn, demonstrating the on-going demand for this type of product.
The UK was the most liquid market, accounting for close to 40% of European retail investment activity. While this was due in part to a number of good quality centers coming onto the market, appetite for best secondary also improved as a combination of the continued lack of prime stock and competitive pricing began to push investors up the risk curve………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

The European Parliament has agreed a common set of rules on mortgage lending aimed at avoiding the housing bubble that helped create the current financial crisis.
The new rules governing the €6.5 trillion mortgage market will tighten controls across the sector and make it easier for lenders to decide whether a borrower will be able to repay their debts or not………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

Retail real estate investment in Europe totaled €5.1 billion during the first quarter, a 60 percent increase from a year earlier, with the U.K. accounting for almost 40 percent of all activity, according to new data from Jones Lang LaSalle.
The activity was dominated by shopping center investment, a trend seen in other major global markets. In Europe, shopping center investment increased 85 percent from last year to almost €4.0 billion, JLL reports………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

The student accommodation property investment sector in the UK is predicted to see 9.2% annual returns over the next 12 months due to continued demand.This reflects an increase of 0.4% on London returns to 9.1%, due to rising rents in an acutely structurally undersupplied market, says the latest report from property firm Knight Frank.
Average rents are forecast to rise 3% in London and 2.75% in the regions from September 2013, according to its latest forecast for the student accommodation sector………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

After many years of talk, there is finally some action in the build-to-let market. Prudential’s recent modest return to the housing sector after a 30-year hiatus is hugely symbolic; it welcomes a former mainstay back in the door and illustrates they have the confidence to invest once more in housing.
There was a time when almost everyone rented their home. From the end of the first world war until the proliferation of home ownership in the 1980s, most people rented either from the government or from a large institution such as Prudential………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

Total investment volumes in the German commercial property market have risen 21% year-on-year, according to first quarter figures releasedby property advisor Savills.
The German market saw total investment hit €6.65 bn during the first three months of 2013 - representing the highest first quarter levels for five years. The strong first quarter showing was fuelled by a number of significant portfolio deals, including the purchase of an IVG open-ended special fund for some €500 mln and Dundee’s purchase of a portfolio of eleven office properties for € 420 mln from SEB………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

Facing a bank eviction, Pepi Cáceres began to pack up her family’s belongings to move when they were spared at the last minute by a decree by the leftist leadership of Andalusia, Spain’s largest autonomous region.
Defying the conservative central government in Madrid, Andalusia this month implemented measures that will temporarily stop evictions and penalize banks and real-estate firms for holding hundreds of thousands of vacant properties. It favors people hurt by Spain’s recession over of the interests of the country’s lenders, including many that have received government bailouts………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

Signalling a return of investor confidence, Dubai property prices and rents recorded their sixteenth consecutive monthly increase in March, Deutsche Bank said in a press release on April 22. The global investment bank cited figures from its latest research report showing that apartment prices were up by 1.5 percent, while the cost for villas in the emirate increased by 1.6 percent from February to March. Rental values showed similar trends, with apartments up one percent and rental rates for villas rising 0.7 percent month on month.
According to the report, price gains were recorded across most areas of the emirate, with Jumeirah Island leading the way with a nine percent increase. Palm Jumeirah villas were featured at the bottom of the table with a negative six percent change in prices………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

Shanghaiist is pleased to present this exclusive excerpt from Landed China: Key Local Knowledge You Need When Buying Property, by Christopher Dillon. Christopher is an award-winning author who has previously written about buying property in Hong Kong and Japan.
As this book went to press, many people were debating whether China was in the middle of a real estate bubble. The answer to that question is complex and a lot is riding on it………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

Real-estate agents in Hong Kong are diversifying their business portfolios in a bid to survive and thrive in a slowing property market.
International consultant Savills, which until now has focused on broking big-ticket property transactions in Hong Kong as well as introducing overseas properties to Hong Kong buyers, is expanding its sales force to enter the mass housing market in the city………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

The ratio of South Korea’s household debt against disposable income rose to the highest level in nine years in 2012 as debt grew at a faster pace than income amid the economic slowdown, central bank data showed Wednesday.
The ratio of households’ debt against their disposable income came in at 136 percent in 2012, slightly up from 134 percent in the previous year, according to data by the Bank of Korea (BOK)………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

Asian investors are showing rising interest in Australia’s property market, with Korean investors in particular looking to shift their assets away from that region’s political tensions, according to The Australian Financial Review.
The newspaper cited one international fund manager who said calls from Korean institutions have soared, but added that “they need a lot of hand holding” and “once they turn, they turn quickly”………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

Australia’s housing market appears to be in the midst of a recovery, with prices rising at their strongest level for more than two years in many capital cities.
The new figures come as a senior Reserve Bank of Australia official cautioned on Tuesday that market conditions were shifting to a ”new normal” where price growth would be slower than the country had witnessed over the past 30 years………………………………………..Full Article: Source

Posted on 24 April 2013 by Laxman |  Email |Print

The property market is a slow moving beast and when you are able to pick up on the trends and get on board, it allows you to make better investment decisions.
BIS Shrapnel’s emerging trends in residential market demand report released this week picked up on one of the most powerful trends driving the property market………………………………………..Full Article: Source

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