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Real Estate Briefing 26.Apr 2013

Posted on 26 April 2013 by Laxman |  Email |Print

With gold prices currently on the descent, many investors are asking themselves if residential real estate prices will follow. Gold and real estate are the two primary investment routes for retail investors in India, so this is definitely a valid question to ask.
The performance of residential real estate as an asset class is doubtlessly dependent on the macro-economic factors that also dictate the performance of other asset classes, including gold. Nevertheless, the correlation between gold and real estate prices is not as distinct as one may at first assume. Price movements in the real estate sector are the result of supply and demand. This is true for gold as well, but the demand drivers for real estate are not the same as for precious metals………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

Investing in China’s real estate market will not be as profitable as buying property in the US, mainly due to China’s property curbs and the US housing market recovery, a top Chinese government think tank said in a report released Wednesday.
Property prices in China will be relatively stable in 2013 and there is limited room for further rises, given the country’s regulation of the property market, the Chinese Academy of Social Sciences said in the report………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

The 15-year fixed rate fell to 2.61% this week from 2.64%, The previous record low of 2.63% was set the week of Nov. 21, 2012.An adjustable-rate mortgage, the 5/1 ARM, also bottomed out at 2.58%. The most popular mortgage, the 30-year fixed-rate, came in at 3.4%, 0.09 percentage point above its record low.
“The housing market is getting a boost, with mortgage rates hovering at or near record lows,” said Frank Nothaft, Freddie’s chief economist………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

There’s an additional reason the Wall Street property grab will injure struggling homeowners: Single family homes make a truly lousy absentee investment. Many of us who have become accidental landlords — after moving or the death of a parent — have learned that management easily becomes a nightmare. The very nicest people can turn into “tenants from hell” — such as drug addicts.
Then there’s the rent. “My check bounced? Are you sure? I promise I’ll get you another check as soon as my paycheck comes in.” Worse, there’s maintenance. “I know it’s three AM, but my toilet is plugged up and overflowing.” “Have you tried using the plunger?”……………………………………….Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

In the last quarter some 10% more surveyors across the country reported rising workloads and one of the main drivers behind this was the boost in private housing construction.
While still historically low, the boost in house building would suggest that some of the government initiatives are quietly beginning to breathe life back into parts of the nation’s property sector, says RICS………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

Overseas investors looking to buy into the UK commercial property market are entering an extremely popular market and without proper knowledge and guidance they can find their investments have not been best placed.
Considered a safe haven, the London property market in particular has seen massive levels of investment in 2012 - around £16bn. Compare that to less than £4bn going into the New York property market in the same time frame and it provides a clear indication of just how attractive a location London is for overseas investors………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

In the year to March, residential property prices at a national level, fell by 3%. This compares with an annual rate of decline of 2.6% in February and a decline of 16.3% recorded in the twelve months to March 2012, according to the CSO today. Residential property prices fell by 0.5% in the month of March. This compares with a decrease of 1.5% recorded in February. Prices were unchanged in the month of March of last year.
In Dublin residential property prices fell by 0.8% in March but were 1.4% higher than a year ago. Dublin house prices fell by 0.3% in the month but were 1.5% higher compared to a year earlier………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

Banco Santander SA (SAN)’s decision to “retract” as much as 1 billion euros ($1.3 billion) of provisions to cover property price declines may show Spain’s real estate market is close to its lowest point, Chief Executive Officer Alfredo Saenz said.
Santander, Spain’s biggest bank, set aside the funds for for this year to cover the risk that price declines would accelerate. The bank is “retracting” the provision because it now doesn’t expect it will be needed, he said……………………………………….Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

In March 2013 the government revealed plans to build 174,000 new houses and three separate cities by 2020, two near the Iraqi border in the north, and one on the Saudi border in the south. Although no official price tag has been given for the project, estimates put the cost at around $5bn.
Under Kuwaiti law, the country’s 1.2m nationals are entitled to apply for government housing after marriage, receiving loans that are paid off in small instalments over 30 years. However, despite the state’s $400bn oil surplus, applications for housing now outstrip supply by more than 100,000 and will grow by an estimated 8000 applications each year, local media has reported………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

Delhi and the adjoining National Capital Region (NCR) has seen a 20 per cent rise in property prices over the past year, the highest among all metropolitan regions in the country, according to a report.
The highest growth was seen in Sector 112 of Gurgaon, where capital values rose 72 per cent in the first quarter of 2013 over the same quarter in 2012, said the report by 99acres.com, which has taken into account seven major cities across India………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

When it comes to commercial real estate investment flows China still takes a back seat in Asia to Japan and Australia, whose markets have better transparency, more experienced investors and deeper inventory. Yet China is also poised to surpass both in the next few years as its economy becomes more service-driven and the investable supply rises, especially in Beijing and the country’s other big top-tier markets, Shanghai and Guangzhou.
So says Anthony Couse, a managing director in Shanghai for global real estate consultancy Jones Lang LaSalle of Chicago. His enthusiasm is apparently shared by the Blackstone Group, reported in April to be planning to raise up to $4 billion for a real estate fund focused on China and Asia………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

Chinese banks lent ¥710.3 billion to the property development in Q1 2013, ¥466.7 billion more than a year earlier, according to a report released by the central bank. Property loans represented 27% of total lending in Q1 2013. Outstanding loans taken out by the real estate sector, including those issued by foreign banks, amounted to ¥12.98 trillion as of the end of March 2013, up 16.4% from a year earlier, the People’s Bank of China said.
Total outstanding loans rose 14.9% from a year earlier to ¥65.76 trillion as of the end of March 2013 after ¥2.76 trillion, ¥294.8 billion more from a year earlier, were lent during Q1 2013. Outstanding loans for small and midsized businesses rose to ¥11.78 trillion as of the end of March 2013, up 13.5% from a year earlier………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

China’s outstanding real estate loans in the first quarter rose 16.4 per cent from the same period a year ago, even while overall industrial lending slowed, providing new evidence that the property market in Asia’s largest economy is still heating up.
Banks in China had 12.98 trillion yuan (S$2.6 trillion) in loans to the property sector by the end of March, according to data posted yesterday on the People’s Bank of China (PBOC) website. The rise in outstanding loans in local currency compares with a year-on-year increase of 12.8 per cent at the end of the fourth quarter last year………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

Confidence in the housing market among homeowners has soared to its highest level in three years, a property search website has reported.Almost three-quarters of homeowners (74%) expect house prices in their area to rise by September, with the predicted increase averaging 4.5%, in further evidence that the market is starting to “turn a corner”, Zoopla said.
Both the proportion of people forecasting house price increase and the typical size of the anticipated increase are the highest figures recorded in around three years by the quarterly study, which began in 2009………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

The real estate market in Fiji has picked up momentum considering the tough environment since the global financial crisis in 2007-2008.Naisoso Island Fiji managing director Bob Lowres said they continued to receive interest from local and overseas property investors for their land and apartments priced from $600,000.
“We all need to work together to put our best foot forward to the rest of the world. Fiji is an amazing place to live in and making sure people understand that there is far more to living here than just white sandy beaches and clear blue water is really important. It’s safe, it’s friendly, it’s excellent value and it’s only a few hours away from Australia and New Zealand,” he said………………………………………..Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

The return of Japan Prime Minister Shinzo Abe and his monetary policy known as “Abenomics” is jump starting the country’s sluggish property sector, many analysts believe.After years of austerity, Mr. Abe is pouring money into the economy and the Bank of Japan is buying financial assets, including Japanese real estate trusts (J-REITs), the Financial Times reports.
“The policies being implemented at the moment are generally seen as positive for real estate,” Andy Hurfurt, head of investment consulting at CBRE in Tokyo, told the paper. “To a degree the BoJ is telling people that they are going to underwrite the J-REIT market.”……………………………………….Full Article: Source

Posted on 26 April 2013 by Laxman |  Email |Print

The S&P/ASX 200 has made significant gains this year on the back of heavy investments made in blue-chip stocks. Recent turbulence in the mining industry and overseas markets has left many investors wondering whether the share market has run its race, and whether now may be the time to take their profits and seek gains elsewhere.
The solution that those investors are looking for may have been answered by RP Data, which released results suggesting that the value of Australian properties are set to soar. According to the results, a total of 263 suburbs in Australia have recorded an average annual growth rate of above 7.2% over the past five years – 68 of which are located in Melbourne………………………………………..Full Article: Source

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