Infolinks

Google Recherche

Affichage des articles dont le libellé est Estate. Afficher tous les articles
Affichage des articles dont le libellé est Estate. Afficher tous les articles

mercredi 23 juillet 2014

Land grabbing: rich Chinese are tear America real estate

Chinese buying spree for U.S. homes  

Chinese buying has increased by more than 70% to $22 billion - nearly 1/4 dollars of all foreign purchases, according to the National Association of Realtors.

Canadians are indeed no. 1 in terms of total purchased homes, but the Chinese buy much more expensive houses: an average price of $ 591,000.

The Chinese also bring big money to the table: more than three quarters of their purchases buy cash.

California is the largest market for the Chinese, representing one-third of their purchases.

The State of Washington, however, is quickly coming, or 9% of purchases. It is followed by New York, Pennsylvania and Texas.

Related: Top 10 cities for Chinese buyers

Why do they buy? Only 39% of Chinese buyers said that they intend to use their purchases as their principal residence.

Some may buy condos for their children of U.S. colleges dealing with. They hope that, in addition to save on dorm costs, they can benefit from the price appreciation House where students graduate.

Others become owners, buying homes at low prices in economic pockets distressed as Detroit and landlords.

Others still use the homes as vacation properties a couple of weeks a year and rented the rest of the time.

In addition to the tide of Chinese and Canadian buyers of the Mexico, the India and the United Kingdom completed a list of five albums. The India also had a notable jump in money - growth of 48%.

Related: Buy vs. rent - what you'll pay in the 10 largest cities

Related: Promising cities for wealthy real estate investors


First published: 8 juillet 2014: 10: 11 et

Real estate focused on the Millennium on the horizon

Why millennials love apartments  

Really, they don't want to come out, according to a study by Harvard's Joint Center for Housing Studies and by 2025 could form 24 million new households.

Some graduates recent 11 million lived with a parent in 2012, according to Pew. The rate of home ownership for less than 35 years was 36% in the first quarter of 2014, against a maximum of 43% in 2005, according to the census.

Three main factors have been holding back, said the Harvard study: a market of low employment for recent graduates. Student loans. And lending standards tightened.

But while the economy turns around, the barriers began to fall.

"When retrieves the job market and their income recovers, they will make their mark on the housing market," said Christopher Herbert, Director of research at the division of Harvard, in a panel discussion after the release of the Harvard report.

Related: Price of: "I can't provide a home in my town.

Purchase of Millennials should give a boost to the housing market all.

"If someone wants to go from a starter to a bigger home House, need someone to sell Starter House," said Mike Calhoun, President of the Center for Responsible Lending, to the Panel.

The report stresses that certain factors can retain training household. Despite the improvement in the new economic, generation y to only slow economic gains. Unemployment is down, but the growth of salaries has stagnated with persistence. Moreover, Millennials must still face growing student debt burden and lending standards tightened.

'It's too expensive to go to school'  

Instead of a mass exodus from their parents, the authors said Millennials could just leaking out, mirrored what Herbert called "constant, slow recovery." of the economy

The report also points out that borrowers of color, who expected to experience population growth which could help household car and building training, face denials of mortgage loans at rates much higher than white counterparts, which could well endanger a surge of housing.


First published: 26 June 2014: 6:32 PM and

mardi 22 juillet 2014

Real estate prices to stabilize and reverse the course within two years - analysts

Two analysts of the Bank of America Merrill Lynch (BAML) defend what they call their views of great strong conviction for what should happen in the world of housing over the next two years.    Chris Flanagan and strategists Gregory Fitter, ABS and MBS say that their views are mainstream step but that recent data had corroborated their theories.

The two argue that house price increases will continue to moderate the skyrocket trajectory, they were on end 2012 and early 2013 will be peak in mid-2016.  In second place, as unemployment continues to facilitate, the yield curve will continue to flatten (a longer-run rate if lower, while that shorter term rates increase, relative to one another) and the gap between two-year and 10-year Treasury yields should be zero by the time real estate prices peak.  The long end of the curve will be surprising to low yields, encouraged by a soft housing market and low inflation.

The first "great view", that the prices of houses will culminate in two years, it is validated they say with the most recent real estate price income Case Shiller-based model.  Graphs 1 and 2 includes the Case Shiller historical and forecast house price index (HPI) and the strategists of the BoA's fair value estimate.  This model shows that the HPI will increase top-level quarter 2014 of 155.5 to a peak of 167.3 in the third quarter of 2016.  It's an annualized growth of 3 percent to more than 30 months, compared to 11% in 2013 and the rate annualized 9.5% since prices bottomed in the fourth quarter of 2011. Then the price should decrease and not to resume the level of 2016 until 2022 Q2, an annualized rate of growth in prices in more than six years of 0.  With this account, the growth rates annualized domestic price between 2014 Q1 and Q2 2022 is expected to reach 1.0 percent.

The authors estimate that the Case-Shiller HPI already exceeded 9.7 per cent valued in the first quarter of this year from the author of fair value estimate and it was 6.2% undervalued when it touched the bottom in 2011, a swing of 16 per cent in assessment in two years.  Last time, we observe such a rate of acceleration was in 2002, the beginning of the real estate bubble.  Template projects of the author that the prices will be overstated by 12 percent next year end or at the beginning of 2016 and this will eventually lead the decline in the price, probably less than fair value.

The return under fair value reflects what happened before, during and after the crisis housing, but at a lower level of recosting.  During the early 2000s overvaluation of housing boom peaked in Q1 2006 at 58.9 percent before prices decreased by 34%, exceeding fair value at the base.  It will be very different this time, mainly due to the regulatory framework, including Dodd-Frank, which has been implemented in response to the boom and bust.  After peaking this time, they expect the prices stay flat or unchanged for six years, not collapse as it occurred ten years earlier. exactly what the regulatory framework was supposed to do.  "From this perspective,"they say, "0% 2016-2022 house price growth seems to us a fantastic result and exactly what policymakers had hoped during the establishment of the new regulatory framework."

Given this scenario, the authors ask what may be the catalyst to increase interest rates.  If anything, they have lower rates, by the way, seem even more plausible. "It is difficult for us to see what generates any significant and sustained increase in the volatility of interest rates.

The authors cite also the report can CoreLogic published early July as another justification for their theory of the slowdown in the growth of prices.  CoreLogic, with more recent data than that provided by Case-Shiller, watch-year (YOY) price domestic growth may of 8.8%, down 3 percentage points from 11.8 per cent in February, which the authors believe will prove to be the cyclical peak.  Annual growth of 11.5 percent had persisted since early 2013.  The decline of the "tip" of February began in March and accelerated the downward in May.

Similarly, (MOM) data from month to month annualized slow down temporarily after mortgage rates increased in mid-2013 to level 20 percent at the beginning of the year.  While January and February 2014 were exceptionally strong rate of 26.0 and 16 percent respectively growth then began to slow down.  Data from MOM for may showed an increase of 1.7% after 2.4% in April.  Flanagan and installer says April that CoreLogic and may readings suggest that their own model whereby a 3% rate of growth of prices for 2.5 years followed by 1 percent for the next eight years begins to realize.

Their second point of view that massive yield curve flattening began with the new year and will continue until that spreads from 2 to 10 year zero hit in 2016 is reinforced by the latest unemployment report.  Graph 4 shows their vision of the relationship between unemployment and the "spreads" of the two yield curve.  The unemployment rate decreased in a fairly linear manner since the peak in October 2009.  Extrapolating the decline towards the front, they believe that unemployment will rise to 5% by 2015, and 4% by early 2017.  Historically, it was not long after unemployment is less than 5 percent the year of 2 to 10 spreads approach or drop below zero.

Analysts concede concerns of the Fed Chairman Janet Yellen all soft labour market could mean it will be different this time, but they want to their theory. that the decline in unemployment will force the Fed to act and the zero rate will be obtained on the schedule they plan to undertake.

You can see a list of all ministerial reviews by clicking on the 'Reading of the last comments' option under the 'Community' menu.

vendredi 11 juillet 2014

Budget 2014: Path breaking Budget for real estate sector, says Shishir Baijal of Knight Frank India

AppId is over the quota
AppId is over the quota
Modi Vision 2014InteractivesExperts SpeakIndustryMarket View

Budget 2014: 5 changes to improve housing and real estate sector

AppId is over the quota
AppId is over the quota
Jul 4, 2014, 02.26PM IST

By Neeraj Bansal

The real estate sector has been the backbone of the Indian economy and has been a major contributor in the economic growth. The approach followed by real estate players have been instrumental in changing the face of the country, from being under-developed to accelerating its way to a developed country. The sector contributes about 6.3 percent to the nation's GDP (2012-13) is a major source of revenue for Central, state and local governments and provides employment to more than 50 million people (along-with construction sector). It also supports about 300 ancillary industries, such as cement, steel, building material, paint and transport.

Since the opening up of the Indian economy to foreign investors in 2005, the sector has attracted more than US$22 billion through foreign direct investment; it is expected to attract US$180 billion by 2020. However, over the past few years, it has been facing several problems, such as increased land prices — the most precious and scare 'raw material' — funding constraints, slump in sales, numerous approvals and a significant time required to obtain them, and uncertainties on the tax and regulatory fronts.

However, there's no denying that the sector has substantial growth potential, which is evident from a burgeoning middle class, significant high urbanization, shortage of affordable housing, proposed development of new cities and industrial corridors, signs of revival in the global economy and the corresponding positive impact on the Indian economy. The need of the hour is for the government to reform its policies for the sector and tax regulations to provide the much-desired fillip to the sector. Here are some changes that can be brought in the budget to initiate the process:

1. Service tax credit on construction activity is not available against output service tax liability on renting immovable property. Credit of input service tax paid on construction service should be allowed to avoid cascading effect of taxes.

2. Clarification on transferring of development rights: The transferring of 'development rights' entails transferring of rights related to land. Some states levy stamp duty on such transactions. Taxing the transferring of development rights has not been clarified under the current service tax regime. Suitable clarification should be issued to ensure that the transferring of development rights would not attract service tax.

3. Industry Status for Affordable Housing: The Reserve Bank of India characterizes the sector as 'risky', which deters it from accessing funds. Considering that it generates significant employment opportunities and contributes to the GDP, the sector should be given an industry status, which will help it access bank funding at better interest rates and reduced collateral values. A reduction in the base rate and repo rate would enable banks to grant loans to developers and home buyers at reduced rates, which would increase affordability.

4. Revoke the LARR Act 2013; make only landowner's consent mandatory: mandates obtaining consent from 70 per cent of project affected families (PAF) in case of public private partnership (PPP) projects and 80 per cent in case of public projects. PAF is defined to include not only land owners but also those who lose livelihood from the land acquired. Hence, the requirement of obtaining consent of 70/80 percent PAF can be a tedious and long-drawn-out process. These provisions should, therefore, be modified to include only landowners.

Alternatively, the PAF consent limit should be reduced. Also, compensation of up to two times of the market value in urban areas and up to four times of in rural areas seems steep, considering the fact that PAF are also provided separate rehabilitation and resettlement (R&R) benefits.

  5. From the perspective of Real Estate Regulatory Agency (RERA), the requirement of setting aside up to 70 per cent (state-wise threshold) of the sale proceeds in an escrow account appears to be high, considering that the cost of the land is generally between 40 and 60 per cent, depending on the state in which it is located.

Accordingly, it is suggested that the upper limit of 70 percent be reduced or states should be directed to issue guidelines to fix an appropriate cap so that the money in the escrow account is enough to meet the construction cost of a project but does not unnecessarily lock additional liquidity of developers.
The continued growth driven strategies of the real estate players, along with the support of the Central and State governments, will surely pave a positive path to take the Indian economy to the next level.

The author is a Partner at KPMG in India.

mercredi 9 juillet 2014

Land grabbing: rich Chinese are tear America real estate

Chinese buying spree for U.S. homes  

Chinese buying has increased by more than 70% to $22 billion - nearly 1/4 dollars of all foreign purchases, according to the National Association of Realtors.

Canadians are indeed no. 1 in terms of total purchased homes, but the Chinese buy much more expensive houses: an average price of $ 591,000.

The Chinese also bring big money to the table: more than three quarters of their purchases buy cash.

California is the largest market for the Chinese, representing one-third of their purchases.

The State of Washington, however, is quickly coming, or 9% of purchases. It is followed by New York, Pennsylvania and Texas.

Related: Top 10 cities for Chinese buyers

Why do they buy? Only 39% of Chinese buyers said that they intend to use their purchases as their principal residence.

Some may buy condos for their children of U.S. colleges dealing with. They hope that, in addition to save on dorm costs, they can benefit from the price appreciation House where students graduate.

Others become owners, buying homes at low prices in economic pockets distressed as Detroit and landlords.

Others still use the homes as vacation properties a couple of weeks a year and rented the rest of the time.

In addition to the tide of Chinese and Canadian buyers of the Mexico, the India and the United Kingdom completed a list of five albums. The India also had a notable jump in money - growth of 48%.

Related: Buy vs. rent - what you'll pay in the 10 largest cities

Related: Promising cities for wealthy real estate investors


First published: 8 juillet 2014: 10: 11 et

Real estate focused on the Millennium on the horizon

Why millennials love apartments  

Really, they don't want to come out, according to a study by Harvard's Joint Center for Housing Studies and by 2025 could form 24 million new households.

Some graduates recent 11 million lived with a parent in 2012, according to Pew. The rate of home ownership for less than 35 years was 36% in the first quarter of 2014, against a maximum of 43% in 2005, according to the census.

Three main factors have been holding back, said the Harvard study: a market of low employment for recent graduates. Student loans. And lending standards tightened.

But while the economy turns around, the barriers began to fall.

"When retrieves the job market and their income recovers, they will make their mark on the housing market," said Christopher Herbert, Director of research at the division of Harvard, in a panel discussion after the release of the Harvard report.

Related: Price of: "I can't provide a home in my town.

Purchase of Millennials should give a boost to the housing market all.

"If someone wants to go from a starter to a bigger home House, need someone to sell Starter House," said Mike Calhoun, President of the Center for Responsible Lending, to the Panel.

The report stresses that certain factors can retain training household. Despite the improvement in the new economic, generation y to only slow economic gains. Unemployment is down, but the growth of salaries has stagnated with persistence. Moreover, Millennials must still face growing student debt burden and lending standards tightened.

'It's too expensive to go to school'  

Instead of a mass exodus from their parents, the authors said Millennials could just leaking out, mirrored what Herbert called "constant, slow recovery." of the economy

The report also points out that borrowers of color, who expected to experience population growth which could help household car and building training, face denials of mortgage loans at rates much higher than white counterparts, which could well endanger a surge of housing.


First published: 26 June 2014: 6:32 PM and

mardi 8 juillet 2014

NYC Real Estate Has Gotten So Hot That Stockbrokers, Hipsters, And Yuppies Are Invading The Far Reaches Of Brooklyn

AppId is over the quota
AppId is over the quota
bay ridge brooklyn young women hipsters Melia Robinson/Business Insider

Sose Aroyan and Karina Aroyan walk Bay Ridge's restaurant row on Third Avenue.

For years, young professionals and families turned up their noses at Bay Ridge, a working-class area of southwestern Brooklyn, because of how far it is from Manhattan.

But as real estate prices in trendier Brooklyn neighborhoods continue to climb, more and more city slickers are taking a second glance at the "original Gold Coast," as locals call the area. With its phenomenal public schools, copious outdoor spaces, restaurant row, and affordable housing, Bay Ridge has a lot to offer.

The influx of young people has also changed Bay Ridge. Trendy, pricey restaurants have popped up on the main drag, a new crowd stays out later, and rents have significantly increased. Suddenly, Bay Ridge's lifelong residents fear being priced out of their homes.

The last shred of Old Brooklyn — the grimy, comfortable, working-class borough where a cup of coffee cost a buck — is giving way to "Girls"-era, hipster New Brooklyn. Let's see what all the fuss is about.

Pourquoi New York City Real Estate est le nouveau compte de Banque Suisse

one57REUTERS/Mike Segar

Sur les 25 unités vendues à One57, plus de la moitié sont acheteurs anonymes à travers des approbations. Certains d'entre eux ne peuvent jamais voir l'appartement.

Voici un fait étonnant : 30 % de tous les appartements entre 49e et 70e rue et entre la cinquième et Avenues de parc sont vacants au moins 10 mois de l'année, selon une estimation du Bureau du recensement fournie au New York Magazine.

Et depuis 2008, environ 30 % des ventes de condos dans les développements à grande échelle de Manhattan ont été par les acheteurs avec des adresses outre-mer ou par l'intermédiaire de SARL secret.

Ces chiffres sont particulièrement choquants vu New York City, les coûts de l'immobilier résidentiel sont à un logement abordable tout-temps haut demeure un enjeu majeur, et pour les sans-abri à New York City sont le pire sa depuis la grande dépression.

Alors, pourquoi sont-ils tous ces appartements dans midtown et ailleurs — des coûts des millions de dollars — séance vide ?

Dans le numéro de cette semaine du Magazine New York, Andrew Rice explore l'afflux des richesses étrangères dans le marché de l'immobilier New-yorkais et pourquoi c'est un endroit idéal pour planquer l'argent tout en préservant la vie privée.

Ecritures de riz (l'accent nôtre) :

... tandis que New York, immobilier présente des inconvénients importants comme un atout — il est illiquide et coûteux à gérer, il a un argument de vente majeur dans son opacité relative. Avec un peu créatif structuration corporatif, une propriété de New York peut être faite aussi introuvable comme un compte bancaire numéroté. Et cela rend la ville un havre de l'île pour ceux qui veulent se planquer l'argent dans un système financier mondial plus en plus surveillé. "Avec tout ce qui se passe en Suisse en matière de transparence, les gens sont contraints de payer des impôts sur leur capital qu'ils ont utilisé pour tenir là," dit Rodrigo Nino, Président du réseau Prodigy. « L'immobilier est une excellente alternative. »

En bref, les condos de Manhattan sont les nouveaux comptes bancaires suisses. Et il y a beaucoup plus qui va dans leur définition que vers le haut qu'ouvrir un fonds immobilier et achat par le biais de cette entité. Riz explique les couches sombres qui peuvent brouiller un achat important :

Derrière un acte de New York City, il peut y avoir une LLC Delaware, qui peut être géré par une société écran dans les îles Vierges britanniques, qui peut être détenue par une fiducie dans l'île de Man, qui peuvent avoir un compte bancaire au Liechtenstein géré par le banquier privé à Genève. Le véritable propriétaire derrière la structure pourrait s'appeler uniquement au banquier.

Ces couches font aussi des immeubles de placement écrit un excellent moyen pour les gens de blanchir ou de cacher leur argent, savoir si légalement ou illégalement, riz. Après tout, l'immobilier est un investissement de grande valeur qui obscurcit la propriété réelle relativement facilement et permet aux propriétaires des « profits propres » tels que les revenus de location ou de gain en capital.

one57 renderingAvec la permission de la société de développement de Extell

Un rendu de l'Attique de $ 90 millions à One57.

Que ce soit au nom de la protection des renseignements personnels, ou quelque chose de plus sinistre, achat à travers un réseau de sociétés est un mouvement commun parmi le monde riche, riz écrit. Par exemple, 14 des 25 de ventes a clôturé à One57, le gratte-ciel de nouveau, ultra-luxe gratte-ciel s'élevant à 90 histoires au-dessous de Central Park ont été achetés par les entités avec les propriétaires sans nom.

Et ces achats ne sont pas encore illégales : envoi d'argent à des comptes bancaires offshore est monnaie courante pour les über-riches. En Grande-Bretagne, il existe des lois qui exigent les avocats à divulguer toute activité suspecte, mais les Etats-Unis n'a pas ces mêmes règlements. Et bien qu'il y a des histoires occasionnelles des propriétés saisies comme preuve dans les cas où la corruption étrangère, riz fait remarquer que ce sont non seulement difficiles à prouver, mais exceptionnellement rare.

Donc, avec des rendements élevés et de la stabilité apparente dans le marché immobilier de New York — surtout par rapport aux autres marchés de luxe comme Hong Kong, Singapour, ou même Londres — les investisseurs étrangers continueront à affluent vers les côtes américaines. Et à moins que les lois changent, on peut s'attendre à des acheteurs étrangers beaucoup plus anonymes qui peuvent ne jamais ouvrir la porte de leurs penthouses de luxe.

Lire le morceau New York Magazine complet ici.