News Archive: property markets

24, 2011 November:

Swiss luxury property market climbs fast

Switzerland is emerging as one of the world’s strongest luxury residential markets with high growth potential says a new report out from global agency Knight Frank this week.

Small rise in property sales in Dubai

Property sales in Dubai are 70% less than they were at the peak of the market in the middle of 2008 but a small rise in transactions is being hailed as a good sign.

New Vatican commission cracks down on church architecture

The new commission will be established shortly, as part of the Congregation for Divine Worship. It will also be in charge of music and singing in the liturgy

October Florida home sales up 13 per cent over 2010

Florida existing home sales in October shot up 13 percent from a year ago as the median price fell, according to figures released Monday by Florida Realtors.

23, 2011 November:

Investment Watch: Thailand tops October as investors turn to apartments

Forget Spain, France and the other usual suspects of overseas property, this time it was Thailand's turn to take the top spot in TheMoveChannel.com's monthly Investment Watch, as a condo in Pattaya attracted the most enquiries on the property portal in October. What triggered such a torrent of attention?

UK renters face highest costs in Western Europe

The UK is the most expensive country in Western Europe for flatsharers, according to flatshare website Easyroommate.co.uk.

Turkish property prices climb

The value of residential real estate assets in Turkey has risen, new research shows.

New Israeli exhibiton pulls 2,000 visitors in 2 days

Israel’s first overseas property show TLV EXPO attracted more than 2,000 visitors last week with, the organisers told OPP, “most interest being registered in distressed properties in the US, Greece, Spain and the neighbouring island of Cyprus. The show was a great success.”

Savills cuts its presence in Europe

Property agent Savills is beating a retreat from troubled European markets, although London's "safe haven" status is still boosting business.

22, 2011 November:

Spain’s election: A landslide of change?

The Spanish General Election, which saw the People's Party win in a landslide vote, is hoped to herald an avalanche of change in the property market. Spain's newly-elected party is being urged by the real estate industry to prioritise further tax cuts and incentives, as thousands of discounted homes remain unsold.

Kabul's unlikely housing bubble seems ready to burst

The war in his homeland was a boom time for Sayed Aman Abed.

Edmonton listed as fourth most attractive real estate market in Canada

Volatile stock markets and minuscule returns from fixed income have investors looking at global real estate. But rather than single-family residential property, the hot ticket these days is multiple family dwellings.

Urgent change needed if Egypt's developers are to survive

AlembicHC Securities is urging Egypt’s hard-pressed property developers to change their business models urgently if they want to benefits from the country’s government housing initiatives as the economy starts to rebuild after the revolution.

Agency commission rates hit historic high in Hong Kong

Commission rates and sales incentives have hit an “historic high” for overseas property deals in Hong Kong as developers struggle to cope with a slump in demand, tighter lending rules and an over-supply of new units.

Existing home sales perked up in October

Home sales perked up in October, according to new data from the National Association of Realtors.

21, 2011 November:

Government's £400m housing market boost

David Cameron and Nick Clegg will pledge to break the "current cycle in which lenders won't lend, builders can't build and buyers can't buy" when they unveil the government's new strategy.

Floods bring a golden opportunity for Thai developers

Thai developers suddenly have a “golden opportunity” to buy up land in flooded areas at bargain prices according to Patima Jeerapaet, managing director of Colliers International Thailand.

CREA increases its property sales forecast due to robust sales

The Canadian Real Estate Association (CREA) has revised its forecast for residential property sales activity due to a stronger than expected market.

18, 2011 November:

Downturn in real estate market allows students to trade dorms for luxury homes

The New York Times has an interesting article examining how the downturn in the real estate market in Merced, California has led to hundreds of college students renting luxury homes in overbuilt areas.

Spanish property prices will continue to fall, says Bankinter

According to Bankinter’s latest report on the housing market in Spain, housing prices will fall an additional 6% up to the end of 2013, making an adjustment of 30% in real terms from their peak, and only begin to rise again in early 2014, when the economy is capable of generating employment and demand recovers.

Melbourne hits 5 months housing supply high

Australian residential property data specialist Monique Wakelin there is now “the equivalent of 5 months of supply on the Melbourne housing market.”

US foreclosure rate improves by 31pc

The American foreclosure rate has improved by nearly a third year-on-year.

Surprising rise in number of second homes

The number of second homes in England rose slightly last year despite the gloomy economic situation, according to government figures.

Immobel enables Mexican listings for US agents

The Immobel Global Real Estate platform announced this week that it will enable all of the property listings of the members of the Mexico National Association of Real Estate Professionals, AMPI (Asociación Mexicana de Profesionales Inmobiliarios), to be shown by US overseas property agents on their own websites in English.

New software to stop house sales falling through

A British company has developed a new online service designed to help reduce the number of housing transactions that fail during the pre-contract process.

17, 2011 November:

Prices at One Hyde Park could hit £10,000 per square foot by 2016

According to a report in Arabianbusiness.com, prices at One Hyde Park in Knightsbridge London could hit £10,000 a square foot by 2016. The development of 86 prime residential apartments already sells for £7,500 a square foot, an incredible increase of £3,000 since the development was launched in 2006.

Cape Verde property market defies the odds

Despite ongoing world economic woes, pockets of good news are emerging out of Africa

360,000 trapped in first homes

The 360,000 first-time buyers who bought a property in 2007 are likely to be trapped in their first homes reveals new research from HSBC.

Video: How will the November rate cut affect the property market in the lead up to Christmas?

Australia's central bank cut the interest rate in November for the first time in 31 months. As the industry speculates about another quarter-percentage decrease in the near future, Australian broker John Symond shares his thoughts on how the November rate cut will affect the property market in the run-up to Christmas.

16, 2011 November:

Sydney spring surge as home buyers dive in

Home buying in Sydney is increasing, with auction clearance rates rising and a surge in first-home buyer activity. Last weekend, 572 properties were listed for auction, the same number as the previous weekend and almost the same as the 588 listed for auction at the same weekend last year.

Economic growth forecast for Malta property market

The latest medium term economic forecast published by the European Commission paints an optimistic picture for the island of Malta's economy and a healthy climate for a property market that remains buoyant.

End of summer bounce for Scottish house prices

House prices in Scotland increased in September in an end of summer bounce, according to the LSL/Acadametrics House Price Index. The latest data shows a rise of 0.8 per cent, marking the third monthly price increase in a row.

Italians are the latest overseas property buyers to see London as a safe haven

Italy may be facing an economic crisis but wealthy Italians are looking to the UK to invest in property and regard the London market as a safe haven, it is claimed.

Number of German apartment deals already outstrips 2010

Nine major residential property transactions, representing more than 800 units, took place in Germany in the first half of 2011.

Feeding frenzy coming as banks dump distressed hotel loans

Europe’s banks are going to be forced into selling more distressed property loans in the coming year as borrowers default, a major Bloomberg real estate summit in New York was told this week.

Video: Rise in investors buying homes for rentals

Foreclosures are up again, home prices down again. But there’s actually some good news in the US housing market: Stan Humphries, Zillow Chief Economist, talks about the rise in investors buying homes for rentals.

15, 2011 November:

China chucks BMWs at buyers

A Chinese developer is offering a BMW with every apartment purchased. The free car is the latest in a long line of measures in the country's turbulent market, as the government cuts prices to cool China's property bubble. Now, developers are trying to stimulate sales without cutting prices further. Other incentives have included holiday cruises and Lous Vuitton handbags.

Short supply supports house prices – November 2011 HAP Index

The mix-adjusted average asking price for homes on the market in England and Wales remains unchanged since October, according to the Home Asking Price Index from Home.co.uk.

Real estate boom to continue in ’12

The real estate boom that the country has been experiencing these past few years is expected to continue through 2012, according to real estate advisory firm CB Richard Ellis Philippines.

Property sales rise in all states in the US

Sales of residential property in the United States have risen in every state in the third quarter of 2011 compared with the previous year, the latest data from the National Association of Realtors.

14, 2011 November:

Investors flock to flourishing Florida

Overseas investors are flocking to Florida, as property sales increased by 51 per cent in the third quarter of 2011. The latest figures from the Miami Association of Realtors mark Florida's 13th quarterly rise in a row. As the number of foreclosures falls and investment increases, Florida's property market is flourishing.

UK seeking £50 billion infrastructure boost - report

Ministers are drawing up plans for a 50-billion-pound housing and road-building programme harnessing private sector money, a newspaper reported on Sunday.

South African housing market faces a bleak outlook

South Africa is facing a bleak outlook for house prices according to new research by Wilhelm Hertzog, an equity analyst at fund manager RE:CM.

Brazilian property market 'grew in Q3'

During the third quarter of 2011, the real estate market in Brazil continued to grow, with the Sao Paulo office sector putting in a particularly strong performance.

CML scales back repossession forecasts

Fewer than expected repossessions were made in the latest quarter of 2011, according to new figures released by the Council of Mortgage Lenders (CML).

Market slow-down as French double capital gains timeline?

The buoyant French holiday home market could face “a slow-down” in the New Year if “vendors take their stock off the market” as the government doubles the scope of its capital gains tax (CGT) regime from February 2012 onwards say local specialists.

Savills predict static housing market until 2016

UK house prices will grow very little over the next five years, according to a residential property forecast by Savills.

Video: Global property outlook 2012

Patrick Summer, Head of Property Equities, Henderson Global Investors shares his outlook for global property markets in 2012.

11, 2011 November:

Florida real estate market 'expected to improve' in 2012

The property market in south Florida is expected to see international sales rise in 2012, supporting its already buoyant real estate sector.

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