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Real Estate Briefing 25.Apr 2013

Posted on 25 April 2013 by Laxman |  Email |Print

Even as U.S. housing rebounds from its worst downturn since the 1930s, production bottlenecks are pushing up building-materials costs, land prices are rising and skilled labor ready to begin work is hard to find.
Suppliers of glass, drywall and wood products, who reduced output during the slump, are testing the vigor of the rebound by boosting prices before committing to restore capacity. Builders, including Lennar Corp. (LEN), Toll Brothers Inc. (TOL) and KB Home, are asking homebuyers for more money as a result or are delaying sales, posing a temporary hurdle for the industry that has become one of the pillars of the economic expansion………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

The U.S. real estate market is in a “state of free fall” despite the U.S. government and big banks manipulating the market to stabilize it, says Mike Harris, financial editor at Veterans Today.
On Wednesday, the Washington Post said that according to a report from the special inspector general for the Troubled Asset Relief Program, American homeowners who received loan modifications under a federal government program are defaulting on their mortgages at an alarming rate………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

Online real estate marketplace Zillow has brought to home buying and selling what a previous generation of travel websites provided to shoppers wanting to compare the prices of hotels, rental cars and airline flights — transparency. But finding data that is reliable across the board can be difficult, according to Zillow CEO Spencer Rascoff. And the key is not just simply to offer the information, Rascoff said during a recent conversation with Knowledge@Wharton and Wharton real estate professor Susan M. Wachter; it’s about the various sub-models the company’s software incorporates.
Zillow has a database of more than 110 million U.S. homes that includes homes for sale and homes for rent. It also incorporates Zestimate, which helps calculate home values. Zillow is the leading real estate website, Rascoff notes, but only about 12% of Americans have heard of it………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

An ongoing rebound in the new home market is leading to better sales of building materials like roofing as well as new appliances, two CEOs told CNBC.
“We had a great quarter in roofing,” Owens Corning CEO Michael Thaman told CNBC’s “Street Signs” on Wednesday. “We’re seeing insulation, despite the fact that it’s losing money, move back into profitability. And we think composites will begin to turn the corner in the second quarter and improve in the second half.”……………………………………….Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

The modest decline in existing home sales in March in Monday’s update from the National Association of Realtors (NAR) prompted some pundits to wonder if the housing rebound is topping out. Anything’s possible, but the reason why sales slipped in March suggests that the market’s suffering from growing pains rather than facing a cyclical turn for the worse.
The issue to consider is the supply of existing homes for sale. Although the inventory of units for sale turned up slightly last month, for the second time in a row, the rise follows several years of falling supplies. Demand, however, keeps rising………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

There was a faint whiff of possible good news for homeowners in the latest mortgage statistics published on today. Mortgage approvals climbed slightly in March, suggesting government moves to bolster the property market may be beginning to be successful.
Some 31,227 home loans worth £4.8bn were approved in the month, according to the British Bankers’ Association, up from a seven-month low of 30,579 in February.The BBA said the February slump was because of a seasonal winter slowdown, but it was cautious about signalling a recovery………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

Swiss home prices are likely to start drifting down, says Wüest & Partner in its latest report on the Swiss real estate market. The company is an international real estate consultancy firm that regularly produces reports on its home market.
“In the coming months, demand for commercial properties is expected to flatten in response to sluggish economic growth. The residential markets are overall robust, but likely to enter calmer waters in 2013 compared to the previous years,” the company’s “Property Market Switzerland 2013/2, published 23 April, forecasts………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

Investors should look to Germany, Sweden and Finland to minimise risk and ensure stable returns, according to the latest Aviva Macro and Property Risk Ratings analysis.
The Aviva report claims that Germany has moved to become the least risky market in Europe for real estate investors from a macroeconomic perspective. The country has been aided by a fall in measures of financial risk………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

Warsaw’s growing role as a financial and business hub is showing in its central business district, where cranes are a regular feature of the skyline and ambitious building projects are going ahead.
Poland’s capital – the largest and most liquid office market in central Europe – is at the heart of the region’s commercial property market………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

According to CBRE’s latest office market report, the Moscow market was stable in Q1 2013 with the exception of the largest volume of new office space delivered to the market in Q1 2013 since 2011. New delivery in Q1 2013 was 259,544 m².
In Q1 2013 the total Moscow office market take was 221,458 m² which is comparable to the volume of deals closed in Q1 2011 (219,000 m²), but is lower than the figure for Q1 2012 (about 274,000 m²) were leased in Q1 2012………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

That along with the planned US$1 billion GCC aid will also contribute towards the nation’s social and infrastructure development programme and in the coming months the residential lettings market is expected to experience a surge in supply.
Cluttons, the real estate specialist which has been operating in the Middle East since 1976, says that several major residential developments will be brought to market over the next six months, including those being built under the government’s housing programme………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

In 2012, Chinese capital directed at overseas commercial investment totaled $4 billion, a 33 percent increase from the year before, according to new data from Jones Lang LaSalle.
The amount of money flowing out of China to cross-border real estate investment is a sharp contrast to the recent past. Out of the total Chinese capital invested in real estate in 2003, just two percent went overseas, JLL reports. In 2012 it increased to 26 percent, according to JLL………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

More than 2,000 people flocked to the first floor of Sydney`s Town Hall in Australia on April 14. Ethnic Chinese living in Australia and those flying from China and Hong Kong participated in the “2013 Chinese Sydney Property Expo,” which introduced realty products in Australia to Chinese investors who have emerged as “big shots” on the global real estate market. Twenty seven companies installed promotional booths and introduced apartments and high-end houses worth between 700,000 and 8 million Australian dollars each, in a race to sell them.
With the Korean property market in a protracted slump, domestic investors have shunned real estate investment, but foreigners are creating increasingly strong investment fever in the realty market here………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

Non-landed private property owners have earned a total of S$107 million in gross profit from reselling their properties after project completion since the first quarter of 2012.This is according to a research report by property agency OrangeTee.
The report noted that property owners who had invested in the prime residential sector reaped the highest return in dollar terms, with an average profit of S$410,000 per unit.Meanwhile, mass-market property owners in the Outside Central Region (OCR) had the highest average percentage capital gain of 41 per cent………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

Luxury condominiums and even landed property may face a 5%-10% price correction this year in response to a slower occupancy rate last year.This does not, however, mean that property prices would start to tumble as overall mass market housing would be able to sustain slower growth.
According to real estate services provider CH William Talhar & Wong managing director Foo Gee Jen, the occupancy rate among luxury condominiums in Kuala Lumpur registered only 67% last year, which was “not a very healthy sign”………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

Australians selling properties are increasingly turning to auctions as interest rates matching the lowest in 50 years fuel demand for homes in the country’s largest cities.
In Sydney, the most-populous city, almost two-thirds of homes offered at a public sale found buyers in February and March, the highest level since April 2010, according to data from researcher Australian Property Monitors. In Melbourne, the second-biggest city and largest market for auctions, the proportion rose to 68 percent in February, the highest since May 2010, the figures show………………………………………..Full Article: Source

Posted on 25 April 2013 by Laxman |  Email |Print

According to Australian Property Monitors, median house prices in the city increased by 3.6 per cent in the three months to March, and unit prices lifted 2.6 per cent.The city recorded the highest quarterly price increases in the country.
The Australian Property Monitors senior economist Dr Andrew Wilson says the Melbourne market is making up lost ground………………………………………..Full Article: Source

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