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Real Estate Briefing 14.May 2013

Posted on 14 May 2013 by Laxman |  Email |Print

While far from their 2006 peak, home prices in major metropolitan areas have been rising since early 2012. If that persists, it should make it easier for Americans to move and for employers to match job seekers with available jobs, lowering the jobless rate and increasing overall economic productivity and growth.

“Until the real-estate market picked up, people wouldn’t even consider a move without the certainty that they could sell their homes,” said Jerry Funaro, vice president of global marketing for TRC Global Solutions, a domestic and international relocation service based in Milwaukee…………………………………………Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

Housing is usually more stable because the motivations of the buyers are for long-term occupancy rather than exclusively for profit. But by rigging the market toward speculators, the Fed may have queered the pitch.
Sadly, once the money has fuelled a boom, you can’t just take it back. One of the brightest parts of the American economy is the housing market. It is considered the strongest proof of a recovery. Recent numbers appear to create a very optimistic story………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

A handful of companies that rent houses to single families are preparing to launch initial public offerings on the US stock market as their private equity and hedge fund owners take advantage of investor interest in the US housing recovery.
Colony American Homes, backed by investment firm Colony Capital, is expected to be among the largest in what is becoming a new area of the US publicly listed property sector………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

All you have to do is look at a price chart of Lennar Corp to see the proof that the U.S. housing market is on the mend. Since January 2012, shares of the Miami, Fl.-based new homebuilder have more than doubled.
In fact, since the industry nearly collapsed six years ago, new-home construction for builders like Lennar is now clearly on an upswing. According to the March 2013 report from the U.S. Commerce Department, new home construction was on pace for more than one million units for the first time since the gaudy days of June 2008………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

Home prices in the greater Vancouver area are down 3.9 percent from a year ago, according to the Real Estate Board of Greater Vancouver. In West Vancouver, which is sometimes said to be the wealthiest municipality in Canada, home prices have fallen 5.6 percent. Sales are down 20 percent from a year ago.
Vancouver is not alone. All over Canada there is fear that the country is in a housing bubble that is now in the process of popping. In March, Montreal saw sales decline 17 percent year over year, even while inventory continues to climb. In Ottawa, sales have fallen 16 percent………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

European retail real estate investment totalled €5.1 bn in the first quarter of 2013, up nearly 60% on the year-earlier period, according to Jones Lang LaSalle.
The growth was driven by shopping centre investment, which rose 85% year-on-year to almost €4 bn, demonstrating the ongoing demand for this type of product………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

A U.K. house-price gauge rose to the highest in almost three years last month as government measures to support the housing market spurred demand, the Royal Institution of Chartered Surveyors said.
The index rose to 1 from minus 2 in March, the first reading above zero since June 2010, London-based RICS said in an e-mailed report today, citing a monthly poll of property surveyors. A positive number means more respondents saw values increase rather than decline. A measure of inquiries from new buyers rose to 25 from 13, the highest since November 2009………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

Government measures responsible for pickup in demand that has yet to be matched by increase in supply, says Rics. Fresh evidence that Britain’s housing market is recovering from its long post-recession torpor has emerged as estate agents report the first upward trend in house prices in almost three years.
The Royal Institution of Chartered Surveyors (Rics) said the government’s Funding for Lending Scheme (FLS) and the Help to Buy initiative announced in the budget were responsible for a strong pick-up in demand for residential property that was not yet being matched by an increase in the supply of homes to buy………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

UK commercial property performance remained largely unchanged at the All Property level in April, according to the latest CBRE UK Monthly Index. Total return increased from 0.5% in March to 0.6% in April, with the annual return also picking up to 3.1% for the year to April 2013. However, capital values remained flat, and have declined by -2.8% over the course of the last twelve months.
All offices total return increased to 0.5% in April, while capital values remained at the level recorded in March. Overall sector returns were boosted by offices in Central London, returning 0.6% over the month………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

A German asset management boutique and a US property investor, both based in Germany, have launched a joint venture to create a new company targeting institutional and private clients looking to invest in US real estate.
The Feri group, based in Bad Homburg near Frankfurt, and US Treuhand, based in Darmstadt, will form new company UST Immobilien GmbH. US Treuhand manages at present a multi-billion euro portfolio through a third-party firm, Florida-based Estein & Associates USA, that oversees the buying and selling of US properties………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

Spanish politicians trying to cushion the blows of austerity plan to seize foreclosed homes to house the needy, discouraging foreign investment and threatening to violate terms of the European bailout of the country’s banks.
The regional governments of Andalusia, with the most vacant properties in the country, and the tourist destination of the Canary Islands, are planning to expropriate foreclosed properties for as long as three years to house displaced families………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

The Central Bank of Azerbaijan reports that turnover of country’s residential property market for 1st quarter of 2013 increased by 40.1% against the same term of 2012. In 2012 the index grew by 24.86% against 2011.
According to the CBA, turnover of residential property (the cash flow of notary’s offices) reached AZN 882.75 bn by 1 April 2013 versus AZN 629.947 million a year earlier………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

Property prices in Dubai rose 18.3 per cent in the past one year (March 2012 to March 2013), with the emirate maintaining it’s position among the top five best performing real estate markets in the world, according to a new report.
According to Knight Frank’s first quarter 2013 Prime Global Cities Index, the emirate is ranked fourth in the list of 29 global cities. Prices rose 5.4 per cent in the last three months (December 2012 to March 2013), the third highest in among the global cities compared………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

Property brokerage firms in Dubai are on a hiring spree with hundreds of new brokers likely to join company rosters in coming months. The local firms have stepped up hiring following Dubai property transactions rising 63 per cent to Dh44 billion in first quarter 2013 following rising global investor confidence in the emirate’s realty sector.
In the latest Knight Frank report, Dubai took the second position on the list of the most hottest property market in the world, with prices shooting up by 19 per cent in 2012………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

Average luxury property prices in Asia are continuing to increase with only Hong Kong and Singapore seeing values fall, according to the latest residential index from Jones Lang LaSalle.
The firms says that it has been a steady start to the year, and the first quarter of 2013 saw average capital values rise across seven of the nine luxury residential markets monitored by its index. Average capital values across the nine markets monitored were up 2.2% quarter on quarter and 6.1% year on year………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

The Mumbai residential property rates, touted as the most costliest in India, appreciated by a whopping 66% during the last four years, quashing reports of an ‘imminent correction’, according to a report. Other satellite areas such as Thane and Navi Mumbai saw an even steeper rise in property prices compared to Mumbai’s average increase, growing by 70% and 74%, respectively.
“Residential property prices in Mumbai have increased steadily after the correction seen post the Lehman debacle. In the period from the second quarter of 2009 to the same quarter in 2013, residential real estate prices in Mumbai have increased by 66%”, said a report prepared by Jones Lang LaSalle India (JLLM)………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

China’s home sales transaction value fell 13 percent in April from the previous month as the government’s new property curbs started to take effect.
The value of homes sold declined to 494.6 billion yuan ($80 billion) from 569.4 billion yuan in March, according to the difference between National Statistics Bureau data for the first four months of the year and the first quarter. The value of sales from January to April rose 65 percent to 1.69 trillion yuan from a year earlier, the data showed………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

The value of new home purchases in China rose at a slower pace in the first four months with home seekers feeling less panicky in April compared to a hectic March.
Sales of new residential properties, excluding government-subsidized affordable housing, jumped 65.2 percent from a year earlier to 1.69 trillion yuan (US$273 billion) between January and April, the National Bureau of Statistics said. That compared with 69 percent annual growth registered in the first quarter………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

China’s policymakers will likely ease back on controls over the property market by the end of the year as such measures could hurt growth, a former academic adviser to the nation’s central bank said Monday.
“If the new government is too eager in slowing down the housing market that will do no favors for the Chinese economy,” said Li Daokui, former adviser to the People’s Bank of China. “In the long term growth is the solution,” he told a financial forum. He didn’t give any specific predictions of what form the policy retreat might take………………………………………..Full Article: Source

Posted on 14 May 2013 by Laxman |  Email |Print

Australian home-loan approvals rose the most in four years in March as central bank interest-rate cuts lured buyers into the market.
The number of loans granted to build or buy houses and apartments advanced 5.2 percent from February, when they rose a revised 2.1 percent, the statistics bureau said in Sydney today. The median estimate in a Bloomberg News survey of 16 economists was for approvals to rise 4 percent………………………………………..Full Article: Source

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