HSBC shower reviving hopes of a resumption of the property market, in a study published Monday, November 23. The bank places particular emphasis on the creditworthiness of households, expected to decline again in 2010 and slow home sales.
"The demand for more housing hasten the polar bears in 2010, would halt the rising prices in new and limit the catch-up in prices in the former. It is still early to talk of recovery," says the study. "The creditworthiness of households is expected to decline again after rising nearly 7% on average in 2009, thus limiting the sales of new homes as transactions in the former in 2010," says Mathilde Lemoine, Director of Economic Studies HSBC France. "The rise in prices in the new one will affect the solvency of households when their incomes will stagnate in connection with the rise of unemployment" is expected to rise "up to 11.4% end 2010 against 10.4% in the fourth quarter 2009, "says she. And "the only increase in unemployment would lead to lower average house prices by 2% in 2010. Prices should go up "after the peak of unemployment has been reached.
Resumed in Paris for the Fnaim
Room Paris-Ile de France of the National Federation of Real Estate (Fnaim) wants it, optimistic about the future of the housing market in 2010. According to a study released Thursday, the price of existing housing and the number of transactions expected to increase slightly in 2010 compared to 2009. "The price stability after the first six months of the year, should record a slight increase during the second half of 2010," said its chairman Marcel Ricard.
The average price of existing homes in France grew 0.6% in October after remaining unchanged the previous month, according to the Federation. Prices of apartments rose by 0.4% on average and those houses by 0.9%, bringing their decline over the three months to -0.3% and -1.2% respectively. In the last 12 months, the price of apartments fell by 6.4% and those houses by 7.7%, an overall decrease of 7.1%.
mercredi 25 novembre 2009
Decline in real estate in France : -4,4%
Since September, prices in the former rallied 3% on average, according to figures from the branch network Laforet Immobilier (780 outlets in France).
However, this is not sufficient to curb the phenomenon of falling prices seen during 2009. Laforet expects an average decline of around 4.4% on the whole France and a 20% fall in sales compared to 2008 with only 480 000 transactions.
In detail, these are large areas that are most affected by the crisis with prices dropping by 9.9%. They are followed by the studios (-6.9%) and by two and four parts (-6.8%). These are the three pieces that come off best with a decline of 5.2%.
According to real estate network, the year 2010 will probably not see a strong improvement of the situation in terms of volume sales (the figure of 520 000 will probably not be exceeded) and prices will remain stable. It was not until 2011 or 2012, for the economy to find an acceptable growth rate and therefore the housing market also return to normal.
However, this is not sufficient to curb the phenomenon of falling prices seen during 2009. Laforet expects an average decline of around 4.4% on the whole France and a 20% fall in sales compared to 2008 with only 480 000 transactions.
In detail, these are large areas that are most affected by the crisis with prices dropping by 9.9%. They are followed by the studios (-6.9%) and by two and four parts (-6.8%). These are the three pieces that come off best with a decline of 5.2%.
According to real estate network, the year 2010 will probably not see a strong improvement of the situation in terms of volume sales (the figure of 520 000 will probably not be exceeded) and prices will remain stable. It was not until 2011 or 2012, for the economy to find an acceptable growth rate and therefore the housing market also return to normal.
lundi 23 novembre 2009
The older building boosted by a tax credit
Sales of existing homes in the United States in October reached their fastest pace for over two and a half years, buyers were eager to receive a tax credit when threatened, show figures released Monday.
Sales jumped 10.1% to $ 6.10 million on an annualized basis, the highest figure recorded since February 2007, against 5.54 million (revised) in September, announced the National Association of Realtors (NAR) , the main federation of estate agents in the country.
All 29 economists and analysts polled by Reuters on average had forecast a figure of 5.70 million resales in annualized after the 5.57 million originally announced for September. Compared to October 2008, sales are up 23.5%.
Wall Street extended its advance after the publication of these figures, while the bond market was evolving without much change.
The Dow Jones. DJI gained 1.4% to 16.45 GMT.
"Many buyers rushed to arrive before the deadline for the tax credit for first-time buyers, which would expire at the end of this month, and sales would remain strong in November for the same reasons," commented Lawrence Yun, chief economist for the NAR.
This tax credit of $ 8,000, which was originally scheduled to expire November 30, was extended a few weeks until the next year and was completed by a credit of $ 6,500 for homeowners who purchase a new home.
The first-time buyers accounted for one third of sales in October.
HOPE FOR THE CONSUMER
The median sales price of existing homes fell by 7.1% compared to October 2008, the decline was the smallest recorded for over a year to 173,100 dollars.
"Home resales have hit their low point. The property prices are not far away. There were declines in property prices down," said Lawrence Yun.
The U.S. housing market is gradually recovering from three years of crisis. Residential construction has contributed positively to growth in the third quarter for the first time since 2005.
Sales jumped 10.1% to $ 6.10 million on an annualized basis, the highest figure recorded since February 2007, against 5.54 million (revised) in September, announced the National Association of Realtors (NAR) , the main federation of estate agents in the country.
All 29 economists and analysts polled by Reuters on average had forecast a figure of 5.70 million resales in annualized after the 5.57 million originally announced for September. Compared to October 2008, sales are up 23.5%.
Wall Street extended its advance after the publication of these figures, while the bond market was evolving without much change.
The Dow Jones. DJI gained 1.4% to 16.45 GMT.
"Many buyers rushed to arrive before the deadline for the tax credit for first-time buyers, which would expire at the end of this month, and sales would remain strong in November for the same reasons," commented Lawrence Yun, chief economist for the NAR.
This tax credit of $ 8,000, which was originally scheduled to expire November 30, was extended a few weeks until the next year and was completed by a credit of $ 6,500 for homeowners who purchase a new home.
The first-time buyers accounted for one third of sales in October.
HOPE FOR THE CONSUMER
The median sales price of existing homes fell by 7.1% compared to October 2008, the decline was the smallest recorded for over a year to 173,100 dollars.
"Home resales have hit their low point. The property prices are not far away. There were declines in property prices down," said Lawrence Yun.
The U.S. housing market is gradually recovering from three years of crisis. Residential construction has contributed positively to growth in the third quarter for the first time since 2005.
The housing market is for sellers
The market Homeowners being sold are located in a market that is favorable, says the Canada Mortgage and Housing Corporation.
According to CMHC, the real estate market has a ratio of six which is where the seller / buyer, this means that it is the sellers have the advantage.
The ratio is the same for the Greater Montreal and the South Shore and must be maintained for 2010, while it is slightly more favorable to vendors in the area of Laval.
According to CMHC, the market for real estate sales will stabilize next year before increasing again.
In addition, CMHC expects an average price of $ 279 000 for a house in Greater Montreal include South Shore in 2010, up approximately 4% of price.
According to CMHC, the real estate market has a ratio of six which is where the seller / buyer, this means that it is the sellers have the advantage.
The ratio is the same for the Greater Montreal and the South Shore and must be maintained for 2010, while it is slightly more favorable to vendors in the area of Laval.
According to CMHC, the market for real estate sales will stabilize next year before increasing again.
In addition, CMHC expects an average price of $ 279 000 for a house in Greater Montreal include South Shore in 2010, up approximately 4% of price.
dimanche 22 novembre 2009
Israel : The price of apartments rose by 3.6% on average.
The apartment prices rose 3.6% on average in the third quarter in Israel according to a statement from the Ministry of Housing, this Tuesday. The survey shows that the price of a 4 room apartment rose 10% in the area of Tel Aviv, Beersheva 6%, 4% in Petah Tikva and Modi'in, and 1% in Jerusalem. The information provided by the department contradicts somewhat the figures provided by contractors last week, which showed increases of much higher prices in Jerusalem and more moderate increases in Petah Tikva and Modi'in.
The Israeli Ministry of Housing is simultaneously sold 5859 homes in 20 cities, to try to fight against the constant increase in house prices. 1117 homes and will be placed on the market in Jerusalem, 842 in Beersheba, 336, Rehovot, Rishon Lezion to 349, and 188 in Tel Aviv.
The Israeli Ministry of Housing is simultaneously sold 5859 homes in 20 cities, to try to fight against the constant increase in house prices. 1117 homes and will be placed on the market in Jerusalem, 842 in Beersheba, 336, Rehovot, Rishon Lezion to 349, and 188 in Tel Aviv.
Real old : slight price rise in October
The year 2009 is expected to record a total average decrease in prices compared to 2008, nearly 5%, according to the National Federation of the housing (Photo Paul Delort / Le Figaro)
They rose 0.6% compared to September but the year 2009, prices will show a mean of 5% over 2008, according to the National Federation of the estate.
The price of older housing rose 0.6% in October compared to September, marking a slight recovery on the rise, according to a study released Wednesday by the National Federation of Real Estate (Fnaim). The increase is slightly higher for homes (+0.9%) and apartments (0.4%). However, "the year 2009 is expected to record a total average decrease in prices compared to 2008, about 5%," says the Fnaim, which evaluated so far down between 7% and 8% after speaking of a fall of 10% earlier this year. The price decline for 2009, lower than expected due to a "movement to stabilize prices in the short term," said the federation would be the second in a row after that of 2008 (-3.1% compared to 2007).
This decrease is combined with the collapse in the number of transactions on existing homes - 500,000 in 2009, a drop of 30% over the previous year - which could be extended if prices kept falling. The downturn in the market was reached after a decade of price increases continuously. Prices had increased by 14% in 2003, 15.5% in 2004, 10.9% in 2005, 7.2% in 2006 and 3.6% in 2007.
On a year (last twelve months compared to twelve months) at the end of October 2009, prices show a decline of 7.1%, against -7.8% at the end of the third quarter. But for the three months studied from August to October 2009 compared to the previous three months, the price decline is only 0.8% (-0.3% for apartments and -1.2% for houses ).
They rose 0.6% compared to September but the year 2009, prices will show a mean of 5% over 2008, according to the National Federation of the estate.
The price of older housing rose 0.6% in October compared to September, marking a slight recovery on the rise, according to a study released Wednesday by the National Federation of Real Estate (Fnaim). The increase is slightly higher for homes (+0.9%) and apartments (0.4%). However, "the year 2009 is expected to record a total average decrease in prices compared to 2008, about 5%," says the Fnaim, which evaluated so far down between 7% and 8% after speaking of a fall of 10% earlier this year. The price decline for 2009, lower than expected due to a "movement to stabilize prices in the short term," said the federation would be the second in a row after that of 2008 (-3.1% compared to 2007).
This decrease is combined with the collapse in the number of transactions on existing homes - 500,000 in 2009, a drop of 30% over the previous year - which could be extended if prices kept falling. The downturn in the market was reached after a decade of price increases continuously. Prices had increased by 14% in 2003, 15.5% in 2004, 10.9% in 2005, 7.2% in 2006 and 3.6% in 2007.
On a year (last twelve months compared to twelve months) at the end of October 2009, prices show a decline of 7.1%, against -7.8% at the end of the third quarter. But for the three months studied from August to October 2009 compared to the previous three months, the price decline is only 0.8% (-0.3% for apartments and -1.2% for houses ).
United Kingdom: Nationwide predicts a resumption of the decline in house prices
The recovery of the UK property market is not right away. Nationwide banking group said Friday that "the rise of unemployment throughout the year 2010 inevitably exert pressure on housing prices." And if prices are actually left forward recently, "because of the weakness of supply" of available homes, says Nationwide.
vendredi 20 novembre 2009
Mortgage rate fixed or variable rate, what to choose?
A mortgage rate fixed reassure you but you have questions on the variable rate credit? Whether you are on the verge of buying real estate or even already engaged in the sales agreement, be aware that the mortgage variable rate capped can provide interesting alternatives. Explanations.
It is well known, the mortgage rate offers fixed terms of repayment without surprises. But he provided the least expensive so far? You should know in fact that given the current housing market, characterized by exceptionally low rates, mortgages are variable rate of interest.
The analysis of real estate brokers, whose role is to find the best rates for your mortgages, are formal. Recent studies dating back to November 2009 show that given the current environment a mortgage contracted at variable rates and consistently win!
Indeed, consider the example of a variable rate of 2.95% 1.10 capped: it may well exceed the maximum rate of 4.05%. Compared with a conventional fixed rate offered to 3.8% excluding insurance, we find that the positive differential current is 0.85%. That is to say, a difference of 6 to 7% of the monthly payment. Conversely, the maximum risk would pay his credit at a rate of 4.05% or 0.25% above the fixed rate (3.8%, representing a differential of about 2% of the monthly.
Concerning security, we must know that if the floating rate loan has long been the subject of abuse of all kinds, the Chatel Act now requires banks to exercise the utmost transparency. Thus, practices are deemed unfair now prohibited to protect buyers. What reassure more cautious!
Finally, one can already imagine that the situation will remain stable for a while. Imagine indeed: how to keep a balanced budget without European refinance the heavy debt of various countries in terms of low interest rates? How to boost the growth of households without debt relief? It seems obvious that the real rate does not rebounding fast enough to dismantle this argument ...
It is well known, the mortgage rate offers fixed terms of repayment without surprises. But he provided the least expensive so far? You should know in fact that given the current housing market, characterized by exceptionally low rates, mortgages are variable rate of interest.
The analysis of real estate brokers, whose role is to find the best rates for your mortgages, are formal. Recent studies dating back to November 2009 show that given the current environment a mortgage contracted at variable rates and consistently win!
Indeed, consider the example of a variable rate of 2.95% 1.10 capped: it may well exceed the maximum rate of 4.05%. Compared with a conventional fixed rate offered to 3.8% excluding insurance, we find that the positive differential current is 0.85%. That is to say, a difference of 6 to 7% of the monthly payment. Conversely, the maximum risk would pay his credit at a rate of 4.05% or 0.25% above the fixed rate (3.8%, representing a differential of about 2% of the monthly.
Concerning security, we must know that if the floating rate loan has long been the subject of abuse of all kinds, the Chatel Act now requires banks to exercise the utmost transparency. Thus, practices are deemed unfair now prohibited to protect buyers. What reassure more cautious!
Finally, one can already imagine that the situation will remain stable for a while. Imagine indeed: how to keep a balanced budget without European refinance the heavy debt of various countries in terms of low interest rates? How to boost the growth of households without debt relief? It seems obvious that the real rate does not rebounding fast enough to dismantle this argument ...
The property prices in Britain could leave the drop in 2010
Despite a marked improvement in recent months, the market for UK property is not out of the rut. Starting next year, house prices could indeed go back down, according to 14 industry experts surveyed by Bloomberg.
"For the market to normal, prices are still falling from 20 to 25%," said economist even the most pessimistic of the study. Most analysts also stressed that the sector recovery is not tenable in view of the continued increase in unemployment and the reluctance of banks to lend.
Penalized by these difficult conditions, the housing market even Britain could take several years to recover.
"For the market to normal, prices are still falling from 20 to 25%," said economist even the most pessimistic of the study. Most analysts also stressed that the sector recovery is not tenable in view of the continued increase in unemployment and the reluctance of banks to lend.
Penalized by these difficult conditions, the housing market even Britain could take several years to recover.
jeudi 19 novembre 2009
FNAIM expects a recovery in the housing market in 2010 in Paris
La chambre Paris-Ile-de France de la Fédération nationale de l'immobilier (Fnaim) se veut optimiste pour l'avenir du marché de l'immobilier en 2010. Selon une étude publiée jeudi 19 novembre, les prix des logements anciens et le nombre de transactions devraient progresser légèrement en 2010 par rapport à 2009.
"Les prix, après une stabilité pendant les six premiers mois de l'année, devraient enregistrer une très légère augmentation pendant le deuxième semestre de 2010", a déclaré son président Marcel Ricard, lors de la présentation de cette étude. Il prédit notamment une baisse des pris à
Paris intra-muros de 8 à 9% en 2009 par rapport à 2008. Le nombre des transactions à Paris intra-muros a pour sa part chuté de 25% à 30% entre novembre 2008 et octobre 2009 par rapport aux douze mois précédents, selon les agents immobiliers parisiens.
"Nous assistons depuis quinze jours à une très légère reprise pour les studios, 2 ou 3 pièces qui nous laisse espérer une petite progression de 10% des transactions en 2010 par rapport à 2009", a conclu Marcel Ricard.
"Les prix, après une stabilité pendant les six premiers mois de l'année, devraient enregistrer une très légère augmentation pendant le deuxième semestre de 2010", a déclaré son président Marcel Ricard, lors de la présentation de cette étude. Il prédit notamment une baisse des pris à
Paris intra-muros de 8 à 9% en 2009 par rapport à 2008. Le nombre des transactions à Paris intra-muros a pour sa part chuté de 25% à 30% entre novembre 2008 et octobre 2009 par rapport aux douze mois précédents, selon les agents immobiliers parisiens.
"Nous assistons depuis quinze jours à une très légère reprise pour les studios, 2 ou 3 pièces qui nous laisse espérer une petite progression de 10% des transactions en 2010 par rapport à 2009", a conclu Marcel Ricard.
The real estate brokers accounted for 25% of the credit market
The mortgage brokers are gaining ground ... According to a study by consulting firm Bain & Company, intermediaries, whose business is trading in mortgages from banks, arrogate to themselves today, 20 to 25% of the credit market . A hand that could grow in coming years.
While these operators are not spared by the crisis. Hit hard by falling real estate market, Meilleurtaux.com, which recorded losses of 13 million euros last year, has been forced to reduce its workforce by 180 people in one year (320 today) . Its direct competitor loans, which returned to profitability this year, also had to part with 40 employees (200 today). And despite the recent resumption of trading, Cafpi number one industry, anticipates a decline in sales of -10% in 2009.
However, the business tends to gradually establish itself in the landscape of 'credit ads. Generally, dealers benefit from a distrust of individuals vis-à-vis banks. They also respond better to the new buyers: increasingly consumerist, seeking entry into sulking competition and thereby the "candy store" ...
The model is also often win. Through their sales force, these intermediaries, negotiate, on average, lower rates of 0.1 to 0.3 points for those that can get alone with his banker.
In expanding, the industry should focus in the years to come. Alongside the four leaders that are Cafpi, Meilleurtaux Empruntis and ACE, the market is fragmented: there are over a thousand local brokers. For a critical size and continue to achieve good rates, they will either regroup or to redeem. Similarly, to reduce their reliance on real estate market, operators plan to diversify their activities. Empruntis testing a new offering credit to businesses. Meilleurtaux think to expand its insurance business, the redevelopment of credit, asset management ... It remains to be determined correctly the proliferation of services ... or lose relevance.
While these operators are not spared by the crisis. Hit hard by falling real estate market, Meilleurtaux.com, which recorded losses of 13 million euros last year, has been forced to reduce its workforce by 180 people in one year (320 today) . Its direct competitor loans, which returned to profitability this year, also had to part with 40 employees (200 today). And despite the recent resumption of trading, Cafpi number one industry, anticipates a decline in sales of -10% in 2009.
However, the business tends to gradually establish itself in the landscape of 'credit ads. Generally, dealers benefit from a distrust of individuals vis-à-vis banks. They also respond better to the new buyers: increasingly consumerist, seeking entry into sulking competition and thereby the "candy store" ...
The model is also often win. Through their sales force, these intermediaries, negotiate, on average, lower rates of 0.1 to 0.3 points for those that can get alone with his banker.
In expanding, the industry should focus in the years to come. Alongside the four leaders that are Cafpi, Meilleurtaux Empruntis and ACE, the market is fragmented: there are over a thousand local brokers. For a critical size and continue to achieve good rates, they will either regroup or to redeem. Similarly, to reduce their reliance on real estate market, operators plan to diversify their activities. Empruntis testing a new offering credit to businesses. Meilleurtaux think to expand its insurance business, the redevelopment of credit, asset management ... It remains to be determined correctly the proliferation of services ... or lose relevance.
mercredi 18 novembre 2009
USA : The morale of homebuilders is stable
U.S. manufacturers have the moral hesitation. * The index NAHB / Wells Fargo confidence building professionals and real estate promotion in the United States, released Tuesday night, remained stable in November - to 17. The indicator, which had returned to 4 points in the space of three months, had yielded 1 point in October.
"When we conducted the last survey, earlier this month, the home builders had in mind the impending expiry of the tax credit of $ 8 000 granted to first-time buyers," says Joe Robson, chairman of the NAHB. Now that Congress has voted to renew the measure until the end of the first half of 2010 and has expanded its scope to the secondary-attainment, "we hope he will continue to drive sales," says leader.
The index NAHB / Wells Fargo has three components: a first sub-index on current conditions of sale, stable over one month to 17 and a second measuring traffic of prospective buyers, also unchanged, at 14 (after revision estimation of October), a third and final reflecting expectations for six months for manufacturers, up 2 points to +28.
"When we conducted the last survey, earlier this month, the home builders had in mind the impending expiry of the tax credit of $ 8 000 granted to first-time buyers," says Joe Robson, chairman of the NAHB. Now that Congress has voted to renew the measure until the end of the first half of 2010 and has expanded its scope to the secondary-attainment, "we hope he will continue to drive sales," says leader.
The index NAHB / Wells Fargo has three components: a first sub-index on current conditions of sale, stable over one month to 17 and a second measuring traffic of prospective buyers, also unchanged, at 14 (after revision estimation of October), a third and final reflecting expectations for six months for manufacturers, up 2 points to +28.
Housing starts fall heavily housing in the United States
The construction sector is not out of the crisis. The starts of homes plummeted 10.6% in October in the United States, a severe disappointment to economists who had forecast a rise of 1.7%. A 590,000 annual rate, they fall to their lowest level since April.
The financial community expected to increase, however, thanks to state subsidies. The government has decided to extend until April 2010 its aid program for first-time buyers, which is a tax credit of $ 8,000. He had previously ended in late November.
In addition, building permits, whose variation is generally less volatile, fell 4%. They are at their lowest since May
The financial community expected to increase, however, thanks to state subsidies. The government has decided to extend until April 2010 its aid program for first-time buyers, which is a tax credit of $ 8,000. He had previously ended in late November.
In addition, building permits, whose variation is generally less volatile, fell 4%. They are at their lowest since May
lundi 16 novembre 2009
Rising property prices and stocks in November
The British housing market shows signs of relaxation according to the study published by the RICS, an international organization of real estate professionals. Thus, house prices in London continue to rise as the note 95% of professional members of the organization, this threshold is the highest since December 1996. The number of professionals reporting a rise in house prices rose 14%, reaching the highest level since December 2006, and that "despite an increase in the number of new mandates received by the officers."
The study also shows that sellers are beginning to return to the market: "10% more Chartered Surveyors (members professional editor's note) are part of the increase in new orders in October compared to September. This concerns all regions for the first time since the "credit crunch" with the North, South West London and leading the movement. The number of transactions also continues to grow and professionals reported an average of nearly 19 sales per agent over the last three months. However, the ratio of sales to stocks continue to progress past 10 consecutive months, while progression of improvement in the interest of buyers has slowed for the 4th consecutive month.
The study also shows that sellers are beginning to return to the market: "10% more Chartered Surveyors (members professional editor's note) are part of the increase in new orders in October compared to September. This concerns all regions for the first time since the "credit crunch" with the North, South West London and leading the movement. The number of transactions also continues to grow and professionals reported an average of nearly 19 sales per agent over the last three months. However, the ratio of sales to stocks continue to progress past 10 consecutive months, while progression of improvement in the interest of buyers has slowed for the 4th consecutive month.
United States: significant increase in retail sales in October (+1.4% m / m)
The nominal retail sales rebounded 1.4% m / m in October. In contrast, figures for September were revised negatively (-2.3% m / m).
Vehicle sales rebounded 7.4% m / m. Excluding the more volatile categories - gasoline, vehicles, building materials - retail sales "underlying" rose for the third consecutive month by 0.5% m / m.
The context is unfavorable to the consumer, as recently illustrated the decline in indicators of consumer confidence. However, the third consecutive increase in retail sales "underlying" in October sends a reassuring message to this subject.
Significant increase in retail sales in October
The nominal retail sales rebounded 1.4% m / m in October. They have been particularly boosted by higher purchases of vehicles. In contrast, figures for September were revised negatively (-2.3% m / m instead of -1.5% m / m initially announced).
The October report shows that:
Vehicle sales rebounded 7.4% m / m, after falling twice as fast as the previous month (because of the withdrawal mechanism scrapping bonus).
Reflecting prices roughly stable, purchases of gasoline were unchanged from September.
Purchases of building materials fell for the fifth consecutive month (-2.4% m / m), despite the improvement in the housing market.
Excluding the more volatile categories - gasoline, vehicles, building materials - retail sales "underlying" rose for the third month
row, by 0.5% m / m. In particular, health products, clothing and shopping in stores general have continued to support increased sales.
The context is unfavorable to the consumer, as recently illustrated the decline in indicators of consumer confidence from the Conference Board (from 54.5 in August to 47.7 in October) and the University of Michigan (73, 5 in September to 66.0 in November). Job losses remain high, wage growth slows and the effects of the financial crisis are still being felt (constraints on credit, etc.).
However, the third consecutive increase in retail sales "underlying" in October sends a reassuring message about the consumer.
Vehicle sales rebounded 7.4% m / m. Excluding the more volatile categories - gasoline, vehicles, building materials - retail sales "underlying" rose for the third consecutive month by 0.5% m / m.
The context is unfavorable to the consumer, as recently illustrated the decline in indicators of consumer confidence. However, the third consecutive increase in retail sales "underlying" in October sends a reassuring message to this subject.
Significant increase in retail sales in October
The nominal retail sales rebounded 1.4% m / m in October. They have been particularly boosted by higher purchases of vehicles. In contrast, figures for September were revised negatively (-2.3% m / m instead of -1.5% m / m initially announced).
The October report shows that:
Vehicle sales rebounded 7.4% m / m, after falling twice as fast as the previous month (because of the withdrawal mechanism scrapping bonus).
Reflecting prices roughly stable, purchases of gasoline were unchanged from September.
Purchases of building materials fell for the fifth consecutive month (-2.4% m / m), despite the improvement in the housing market.
Excluding the more volatile categories - gasoline, vehicles, building materials - retail sales "underlying" rose for the third month
row, by 0.5% m / m. In particular, health products, clothing and shopping in stores general have continued to support increased sales.
The context is unfavorable to the consumer, as recently illustrated the decline in indicators of consumer confidence from the Conference Board (from 54.5 in August to 47.7 in October) and the University of Michigan (73, 5 in September to 66.0 in November). Job losses remain high, wage growth slows and the effects of the financial crisis are still being felt (constraints on credit, etc.).
However, the third consecutive increase in retail sales "underlying" in October sends a reassuring message about the consumer.
dimanche 15 novembre 2009
Ile-de-France : The office property continues to decline
The Paris region office market continues its decline, which began in 2007. According to research firm Knight Frank released Friday, "the companies have consumed 1.2 million square meters of offices in the Ile-de-France since the beginning of the year, against 1.9 million during the first nine months of 2008 and over 2 million in the same period of 2007. Despite this decline, "the year 2009 is still at levels higher than those observed in 2002 [1.1 million] or 2003 [1.2 million]," relativize Knight Frank.
Professionals Real British optimistic
The housing prices in the United Kingdom continue to grow. The latest survey from the Royal Institution of Chartered Surveyors (RICS) shows that members of the organization, all real estate professionals are increasingly likely to see "an increase rather than decrease" prices homes. The balance of opinion was 34 points for the period August to October, up 13 points over the previous three months and the highest since the fourth quarter 2006.
Building : businesses are beginning to suffer
Reduced order books, government procurement restrictions, battle on price ... The concern over the future remains bright in the profession.
Visibility reduced persistent to building contractors. The order book stood at "3.36 months for firms with fewer than ten employees, 4.48 for more than ten employees," said the Departmental Federation of Building (FFB). Consider a quasi-stable compared to the previous indicators of August. The members put forward two explanations. In a survey of domestic economic development, they point to a disturbing phenomenon: "A fierce competition, with artificially low prices.
For the departmental chair "the fault lies with the companies, is a management mistake, a time bomb! "Joel Coue carried away, admitting that" the pie is shrinking. " This also urges owners, public and private, not to aggravate this phenomenon.
Deuzio, companies are realizing that "many estimates made do not turn into order. "No thinning either with key clients in public, council or CAN, the volume of calls for tender has been halved and only the donors remain an encouraging trend. The national budget of € 40 million, from 2010, should boost the sites rehabilitation and renovation.
The training is very
In this context, the outlook remains highly uncertain. If small businesses show a drop in morale, confidence level remains stable for large. "Many have responded by moving their personnel and training for new jobs related to renewable energies. Reviews projects looming in 2010 for social landlords, 2012 for local tertiary Joel Coue details. A potential also exists with the Eco-zero interest loan, but linked to the confidence index individuals. "In this regard bankers in the front line on this issue have pointed to its" complexity ". The impact of device recovery of VAT by the community should also bear fruit next year.
The market for real estate transactions, meanwhile, shows a significant decline - 18% by notaries, compared to last year, however the banks observed a resumption of credit to housing, particularly for first - buyers. The profession does not disarm and training (750 trainees in late 2009) not only softens: "We are showing our determination to maintain our expertise."
Visibility reduced persistent to building contractors. The order book stood at "3.36 months for firms with fewer than ten employees, 4.48 for more than ten employees," said the Departmental Federation of Building (FFB). Consider a quasi-stable compared to the previous indicators of August. The members put forward two explanations. In a survey of domestic economic development, they point to a disturbing phenomenon: "A fierce competition, with artificially low prices.
For the departmental chair "the fault lies with the companies, is a management mistake, a time bomb! "Joel Coue carried away, admitting that" the pie is shrinking. " This also urges owners, public and private, not to aggravate this phenomenon.
Deuzio, companies are realizing that "many estimates made do not turn into order. "No thinning either with key clients in public, council or CAN, the volume of calls for tender has been halved and only the donors remain an encouraging trend. The national budget of € 40 million, from 2010, should boost the sites rehabilitation and renovation.
The training is very
In this context, the outlook remains highly uncertain. If small businesses show a drop in morale, confidence level remains stable for large. "Many have responded by moving their personnel and training for new jobs related to renewable energies. Reviews projects looming in 2010 for social landlords, 2012 for local tertiary Joel Coue details. A potential also exists with the Eco-zero interest loan, but linked to the confidence index individuals. "In this regard bankers in the front line on this issue have pointed to its" complexity ". The impact of device recovery of VAT by the community should also bear fruit next year.
The market for real estate transactions, meanwhile, shows a significant decline - 18% by notaries, compared to last year, however the banks observed a resumption of credit to housing, particularly for first - buyers. The profession does not disarm and training (750 trainees in late 2009) not only softens: "We are showing our determination to maintain our expertise."
samedi 14 novembre 2009
Overheating in Geneva : the price of the land explodes
Real estate is overheated in Geneva. Property prices by floors and villas fly. In areas with no building constructed, rising nearly 100% in four years! Not to mention the rental units, which were not included in the study of the Cantonal Office of Statistics (OCSTAT), published last week. These awards illustrate the crisis of supply in a sclerotic market, characterized by the scarcity of land and inadequate buildings.
Thus, any villa, say Veyrier or Oak Bougeries, sells for 1.4 million francs in 2008 when it was trading for just one million four years earlier. If the house has a bit of cachet, such as old, he will pay an average of over one million. An increase of 50% in the same interval. The apartments in the condominium following the trend.
As for the undeveloped land, inflation is more impressive. In villas area, price per square foot has jumped from 710 francs from 2005 to 1368 francs last year (see graphic below-cons). "The price of construction remaining fairly stable, it is logical that the price of land flies cope with demand so strong", according to Professor Martin Hoesli, University of Geneva. However, the economist pursues a share of this increase may be due to a difference in quality between the objects in question: the 2005 study included more villas located in Vernier that during the last survey, where many goods sold from of wealthier municipalities. But this qualitative factor plays a minor role compared to the imbalance between supply and demand.
Even if the building sites were not abundant in the short term, all prospective studies rely on a cheaper houses due to the crisis. Credit Suisse explained this fact by a sharp overvaluation of assets on the economic growth of recent years.
Nothing comparable in the early 90s, but over the last twelve years, rising house prices was 67.5% higher than revenues. Such a mismatch necessarily requires a correction. Also, the slowdown should reduce the average quality items at prices closer to their real value. This phenomenon is not yet supported by statistics.
Another sign of excess ambient observed in the 2008 accounts of the township. While the number of sales has been declining during the past five years, revenue from tax on property gains have tripled. Referring to this figure, State Councilor David Hiler had then reported overheating.
It is also the term used by Christopher Aumeunier, secretary general of the Geneva Chamber estate. But he rejects any idea of speculation: "This term has a temporal concept, provisional. But the problem is structural in Geneva. Moreover, there is a decrease in transactions, which may not be the case during periods of speculation. "
Thus, any villa, say Veyrier or Oak Bougeries, sells for 1.4 million francs in 2008 when it was trading for just one million four years earlier. If the house has a bit of cachet, such as old, he will pay an average of over one million. An increase of 50% in the same interval. The apartments in the condominium following the trend.
As for the undeveloped land, inflation is more impressive. In villas area, price per square foot has jumped from 710 francs from 2005 to 1368 francs last year (see graphic below-cons). "The price of construction remaining fairly stable, it is logical that the price of land flies cope with demand so strong", according to Professor Martin Hoesli, University of Geneva. However, the economist pursues a share of this increase may be due to a difference in quality between the objects in question: the 2005 study included more villas located in Vernier that during the last survey, where many goods sold from of wealthier municipalities. But this qualitative factor plays a minor role compared to the imbalance between supply and demand.
Even if the building sites were not abundant in the short term, all prospective studies rely on a cheaper houses due to the crisis. Credit Suisse explained this fact by a sharp overvaluation of assets on the economic growth of recent years.
Nothing comparable in the early 90s, but over the last twelve years, rising house prices was 67.5% higher than revenues. Such a mismatch necessarily requires a correction. Also, the slowdown should reduce the average quality items at prices closer to their real value. This phenomenon is not yet supported by statistics.
Another sign of excess ambient observed in the 2008 accounts of the township. While the number of sales has been declining during the past five years, revenue from tax on property gains have tripled. Referring to this figure, State Councilor David Hiler had then reported overheating.
It is also the term used by Christopher Aumeunier, secretary general of the Geneva Chamber estate. But he rejects any idea of speculation: "This term has a temporal concept, provisional. But the problem is structural in Geneva. Moreover, there is a decrease in transactions, which may not be the case during periods of speculation. "
The lower rate credit stabilizes according meilleurtaux.com
As expected of professionals, the European Central Bank (ECB) has maintained for the sixth consecutive time, its main rate at its lowest historical level. Its refinancing rate thus remained at record low of 1%. "Combined with a willingness of banks to make even minor cuts rates to attract new customers, this situation should continue to provide great opportunities for individuals," says mortgage broker Meilleurtaux.com. The objective of the ECB is to promote the revival of the credit market including the distribution of mortgages.
The ECB policy influences the pricing policy of banks, a majority of them have lowered their lending rates in October, below the 4% mark in 20 years: "The rate of appropriations decreased by 0.10% on average in October and some banks continued movement in November, but to a lesser extent (- 0.05 points). In a context of stability of the ECB rate and rate of financial markets, where even slight reductions in lending rates by the end of the year, they are only related to the willingness of banks win new customers, after several months of decline in transactions, "says Sandrine ALLONIA, head of economic studies and spokesman Meilleurtaux.com.
The ECB policy influences the pricing policy of banks, a majority of them have lowered their lending rates in October, below the 4% mark in 20 years: "The rate of appropriations decreased by 0.10% on average in October and some banks continued movement in November, but to a lesser extent (- 0.05 points). In a context of stability of the ECB rate and rate of financial markets, where even slight reductions in lending rates by the end of the year, they are only related to the willingness of banks win new customers, after several months of decline in transactions, "says Sandrine ALLONIA, head of economic studies and spokesman Meilleurtaux.com.
vendredi 13 novembre 2009
Real Estate : Enjoy the descent
This season, recreational homes in the mountains will be more affordable. Without foreign customers, prices lost altitude.
Magnificent scenery, ski areas across Europe that we want, resorts renowned ... the Alps are a paradise for skiers and snowboarders. A few weeks before the big rush in December, why not consider to purchase a pied-à-terre? Especially as the financial and economic crisis that has drawbacks. A close look, it even creates investment opportunities. The credit rate is again historically low prices and frankly on the downside. If notaries in France showed a decline of around 5% in Savoie and Haute-Savoie at the end of last season, the decline appears much more pronounced in some stations. An opportunity for gliding enthusiasts. Especially attractive crown a tax certain types of purchases. The question is where to buy and at what price. Focus on the peaks.
Decline on all fronts in the Three Valleys
Here, activity has slowed considerably. Even in the most exclusive resorts. "Courchevel has not escaped the fall of transactions, launches Setiey Lawrence, head of Vallat Immobilier. Statements of intention to alienate (DIA) dropped 60% in recent months. This figure speaks for itself. "The headlong rush of money is definitely over. "Before, we had a range of prices that ranged from 14,000 to 40,000 or 50000euros m2, but it's over," says real estate agent. It is true that the British, which represented almost two thirds of transactions, have largely deserted the market. Today, the values start at around 10 000 for the more traditional goods and leveled off around 30 000 m2 for the most prestigious, including cabins. To attract buyers nervous, anxious sellers have had to revise their claims to fall 15 to 30% depending on the case. Except on properties with a beautiful area and a stunning location, which continue to exchange high prices. One of them, 86 m2, facing due south and up the slopes, has recently negotiated 1.5 million euros, or nearly 17 500 euros per m2. In Meribel, the values drop another notch: between 5 000 and 20 000. The luxury apartments Belvedere take the top end. "Transactions are carried out at 90% with French customers, moreover, less silver, which explains the price level lower," says Lawrence Setiey yet.
Also in the Three Valleys, La Tania, more family meets the same clientele as Courchevel 1550 or 1650. A market report for buyers who can not afford Courchevel. "The y values were significantly increased in recent years, but with the crisis and fall of transactions, prices are feeling the pinch." Relying still between 5 000 and 9 000 m2 for an apartment, and 10 000 12 000 for a cottage of 150 to 200 m2. The shock wave also hits the Val Thorens and Les Menuires. A glimmer of hope still: "During the winter, the market Menuires remained very calm, then woke up in the spring," says Nicolas Mainaz, Agency Alps. The price decline is less pronounced than elsewhere. The heart of the bid is between 3 000 and 4 000 euros, but can climb to 6 000 and 7 000 for the upper class well placed.
Change of scenery in Saint-Martin de Belleville. Nothing in common, in fact, with urban stations such as Les Menuires or Val Thorens. Here, only the charm of small residences and cottages gathered around their church. And an atmosphere of lively village resort in summer and winter. Only drawback, the lack of snow some winters. Price later values have dropped 5 to 10% and settle between 5 000 and 7 000.
The Tarentaise also adjusts its prices
In Val d'Isere (Espace Killy), "activity is idling," says Jerome Degouey, Val d'Isere Agency, buyers are a wait, but it still performs transactions. Vendors are camping on their positions on the pretext that they are in Val d'Isere, while buyers try to negotiate. Hence the blocking of the market. Depending on the industry, prices fluctuate in a very wide range: between 4 500 and 20 000 m2. "In Val d'Isere, supply is very diverse," says Jerome Degouey, we have studios at 60000 euros as apartments for 7 or 8 million euros! "Unlike Courchevel chalets are legion and not pay a high price: 1.5 million euros for the smallest and most poorly placed, 5, 10 or 15 million euros for the most outstanding. Restricted land, the station produced few new programs. Especially since the new local development plan (PLU) reinforced areas unconstructable.
Tignes is better off, even dreaming of creating tourism infrastructure upscale, likely to compete Val d'Isere. Why a 4 star hotel (Nevada) and a residence of tourism, all signed MGM Manufacturer, have been built recently. Other projects are in the pipeline which should soon see the day. Including another tourist residence MGM (4 stars) currently on sale at the entrance to Tignes-le-Lac. A program all the more interesting it is eligible for the new device Scellier Leaseback (furnished by owner). The investor benefits not only for the refund of VAT associated with this type of program, but also a tax reduction of 25% (purchase in 2009 or 2010). It can also reserve a few weeks of living for its own use. A two-piece it sells from 192 000 euros and a three-bedroom apartments from 375 000 euros. "Our achievements are well adapted to the device owner Scellier furnished in respect of property less than EUR 300000, Yanick says Davière, CEO of the group. Our new programs will adapt to the overall investment and propose three-room apartments with areas of 52/53 m2. "Nestled in the Paradiski, La Plagne and Les Arcs also blame a sharp drop in transactions with reflux of the foreign clients. "But if sales are struggling to materialize, buyers will begin to learn and visit," says Peter Maurouard of Fosters Property Alpestates. The price decline is also severe: up to 30%, bringing the values between 3 000 and 5 000 m2.
The Mont-Blanc mourn the Foreign
Megeve has'm smart and worldly, she is no exception in terms of real estate activity. "The buyers are making offers that sellers disdain, but when pressed," says Laurent Allard, agency Allard & Associates. For now, "prices have dropped 15% on average since last year," says this professional. The bid is currently between 8 500 and 10 000 m2. The former property located at Mont d'Arbois, however, can negotiate 12 000 m2 and more. Including cottages. A Combloux, two-parts, which constitute the heart of the application, are traded between 4 000 and 7 000 m2 according to their standing and status. A Samoëns, "between the starting price and that of the transaction, the trend is downward frankly, the values being reduced between 3500 and 4000 Euros when they were mounted up to 6000 euros," said another real estate agent . A cottage set price EUR 460 000 has finally been sold to 415 000. There are also some new construction condominium or traditional residential tourism (including MGM). One two three-bedroom residence of tourism it acquires from 225 000 euros with tax benefits that go with it.
Side of Chamonix, the loss of British customers is severely felt and prices readjust. Counting now between 5 000 and 5 500 euros for conventional properties. "The share of foreigners was 15% instead of 50% usually identified with the mountain, said Yanick Davière, Chamonix suffers particularly." In some agencies, 60 to 70% of transactions were made with this customer. An element which Avoriaz suffers much less. "We never had a high percentage of foreign customers," said Gerard Bremond, CEO of Pierre & Vacances, the French are 95% of our sales. "Indeed, the market remains active, particularly since the extension Station attracts followers of Avoriaz. The Pierre & Vacances develops into effect three tourist homes (3 and 4 stars), MGM under its brands, Pierre & Vacances and Maeva (475 apartments in total). A project that fits on two areas: the Crozats and Falaise. Everything will be supplemented by an extensive pool area and playful 2 000 m2, like those developed by Center Parcs. Price later, between 267 000 euros for two rooms and 875 000 for a five-piece (MGM) between 190 and 500 euros for two rooms and 333 000 euros for a three-bedroom apartments. "The marketing of the three programs had already begun, but it is undeniable that the device Scellier-Bouvard, introduced last April, has a decisive impact on the purchasing decision," says Gerard Bremond. The developer also plans to build more homes under this scheme. "For forty years, our strategy is to make choices based on location and tourist potential. The mountain's first season and winter skiing. Why we prefer the stations above 1800 m altitude. "Not far from Avoriaz, Les Gets are also some new programs to expand, thanks to the willingness of newly elected officials. In nine, the offer is around 6 000 to 6 500 euros per m2. "They went up to 7000-8000 euros in previous years," says Chantal Mudry, ACM Estate. In the former, starting between 4 000 and 4 500 euros per m2 on average and up to 6 000 for certain property, as this three-bedroom apartments of 55 m2 sold 345 000.
Isere and Hautes-Alpes also adapt
"Earlier this year, buyers were on the defensive, but the activity starts again and our agencies are working well, says Romain Troivallets, of Alpe Agency. The owners are less greedy. "A small area, which appears in the window of 120 000 to 130 000 euros last year, is now offered at 100 000. It is true that small areas are no longer listing, buyers preferring more friendly apartments. In most neighborhoods, prices are around EUR 6 000 m2 in the former and 7 500 to 8 000 euros per m2 in the nine. Elsewhere, counting rather between 4 000 and 5 000 m2. Just under the Deux-Alpes, where "prices have slightly decreased with the withdrawal of the English," says Marie-Hélène Duclot, agency Lamy. At Chamrousse, the favorite station of Grenoble, demand has also dropped much, except for small areas. A studio of 20 m2 it commonly sells at least 50 000. Farther south, the entrance to the splendid park of Cases, "Serre-Che" is de-sole lack of foreign customers, but "the product well placed to actual market price share still early," shows that share Andre Martin, the owner of a dozen agencies Urbania. A 37 m2 at the foot of the slopes, posted EUR 230 000, was finally negotiated 215 000.
In the new, MGM continues marketing its tourism residence. A three-bedroom apartments of 49 m2 it sells 282 000 euros and can take advantage of the law Demessine dedicated to the revitalization of rural areas (ZRR), which is in Serre-Chevalier. Besides the recovery of VAT, the purchaser receives a tax reduction of 25% of the purchase amount within the limit of 25 000 for a couple and 12 500 euros for a single. Those interested in this device can also explore the side of Montgenevre, Les Orres, Isola, Orcières-Merlette, Risoul and Vars. In these last two stations, the price displayed decreased from 20 to 25%. From 2 400 to 3 200 euros/m2.
Magnificent scenery, ski areas across Europe that we want, resorts renowned ... the Alps are a paradise for skiers and snowboarders. A few weeks before the big rush in December, why not consider to purchase a pied-à-terre? Especially as the financial and economic crisis that has drawbacks. A close look, it even creates investment opportunities. The credit rate is again historically low prices and frankly on the downside. If notaries in France showed a decline of around 5% in Savoie and Haute-Savoie at the end of last season, the decline appears much more pronounced in some stations. An opportunity for gliding enthusiasts. Especially attractive crown a tax certain types of purchases. The question is where to buy and at what price. Focus on the peaks.
Decline on all fronts in the Three Valleys
Here, activity has slowed considerably. Even in the most exclusive resorts. "Courchevel has not escaped the fall of transactions, launches Setiey Lawrence, head of Vallat Immobilier. Statements of intention to alienate (DIA) dropped 60% in recent months. This figure speaks for itself. "The headlong rush of money is definitely over. "Before, we had a range of prices that ranged from 14,000 to 40,000 or 50000euros m2, but it's over," says real estate agent. It is true that the British, which represented almost two thirds of transactions, have largely deserted the market. Today, the values start at around 10 000 for the more traditional goods and leveled off around 30 000 m2 for the most prestigious, including cabins. To attract buyers nervous, anxious sellers have had to revise their claims to fall 15 to 30% depending on the case. Except on properties with a beautiful area and a stunning location, which continue to exchange high prices. One of them, 86 m2, facing due south and up the slopes, has recently negotiated 1.5 million euros, or nearly 17 500 euros per m2. In Meribel, the values drop another notch: between 5 000 and 20 000. The luxury apartments Belvedere take the top end. "Transactions are carried out at 90% with French customers, moreover, less silver, which explains the price level lower," says Lawrence Setiey yet.
Also in the Three Valleys, La Tania, more family meets the same clientele as Courchevel 1550 or 1650. A market report for buyers who can not afford Courchevel. "The y values were significantly increased in recent years, but with the crisis and fall of transactions, prices are feeling the pinch." Relying still between 5 000 and 9 000 m2 for an apartment, and 10 000 12 000 for a cottage of 150 to 200 m2. The shock wave also hits the Val Thorens and Les Menuires. A glimmer of hope still: "During the winter, the market Menuires remained very calm, then woke up in the spring," says Nicolas Mainaz, Agency Alps. The price decline is less pronounced than elsewhere. The heart of the bid is between 3 000 and 4 000 euros, but can climb to 6 000 and 7 000 for the upper class well placed.
Change of scenery in Saint-Martin de Belleville. Nothing in common, in fact, with urban stations such as Les Menuires or Val Thorens. Here, only the charm of small residences and cottages gathered around their church. And an atmosphere of lively village resort in summer and winter. Only drawback, the lack of snow some winters. Price later values have dropped 5 to 10% and settle between 5 000 and 7 000.
The Tarentaise also adjusts its prices
In Val d'Isere (Espace Killy), "activity is idling," says Jerome Degouey, Val d'Isere Agency, buyers are a wait, but it still performs transactions. Vendors are camping on their positions on the pretext that they are in Val d'Isere, while buyers try to negotiate. Hence the blocking of the market. Depending on the industry, prices fluctuate in a very wide range: between 4 500 and 20 000 m2. "In Val d'Isere, supply is very diverse," says Jerome Degouey, we have studios at 60000 euros as apartments for 7 or 8 million euros! "Unlike Courchevel chalets are legion and not pay a high price: 1.5 million euros for the smallest and most poorly placed, 5, 10 or 15 million euros for the most outstanding. Restricted land, the station produced few new programs. Especially since the new local development plan (PLU) reinforced areas unconstructable.
Tignes is better off, even dreaming of creating tourism infrastructure upscale, likely to compete Val d'Isere. Why a 4 star hotel (Nevada) and a residence of tourism, all signed MGM Manufacturer, have been built recently. Other projects are in the pipeline which should soon see the day. Including another tourist residence MGM (4 stars) currently on sale at the entrance to Tignes-le-Lac. A program all the more interesting it is eligible for the new device Scellier Leaseback (furnished by owner). The investor benefits not only for the refund of VAT associated with this type of program, but also a tax reduction of 25% (purchase in 2009 or 2010). It can also reserve a few weeks of living for its own use. A two-piece it sells from 192 000 euros and a three-bedroom apartments from 375 000 euros. "Our achievements are well adapted to the device owner Scellier furnished in respect of property less than EUR 300000, Yanick says Davière, CEO of the group. Our new programs will adapt to the overall investment and propose three-room apartments with areas of 52/53 m2. "Nestled in the Paradiski, La Plagne and Les Arcs also blame a sharp drop in transactions with reflux of the foreign clients. "But if sales are struggling to materialize, buyers will begin to learn and visit," says Peter Maurouard of Fosters Property Alpestates. The price decline is also severe: up to 30%, bringing the values between 3 000 and 5 000 m2.
The Mont-Blanc mourn the Foreign
Megeve has'm smart and worldly, she is no exception in terms of real estate activity. "The buyers are making offers that sellers disdain, but when pressed," says Laurent Allard, agency Allard & Associates. For now, "prices have dropped 15% on average since last year," says this professional. The bid is currently between 8 500 and 10 000 m2. The former property located at Mont d'Arbois, however, can negotiate 12 000 m2 and more. Including cottages. A Combloux, two-parts, which constitute the heart of the application, are traded between 4 000 and 7 000 m2 according to their standing and status. A Samoëns, "between the starting price and that of the transaction, the trend is downward frankly, the values being reduced between 3500 and 4000 Euros when they were mounted up to 6000 euros," said another real estate agent . A cottage set price EUR 460 000 has finally been sold to 415 000. There are also some new construction condominium or traditional residential tourism (including MGM). One two three-bedroom residence of tourism it acquires from 225 000 euros with tax benefits that go with it.
Side of Chamonix, the loss of British customers is severely felt and prices readjust. Counting now between 5 000 and 5 500 euros for conventional properties. "The share of foreigners was 15% instead of 50% usually identified with the mountain, said Yanick Davière, Chamonix suffers particularly." In some agencies, 60 to 70% of transactions were made with this customer. An element which Avoriaz suffers much less. "We never had a high percentage of foreign customers," said Gerard Bremond, CEO of Pierre & Vacances, the French are 95% of our sales. "Indeed, the market remains active, particularly since the extension Station attracts followers of Avoriaz. The Pierre & Vacances develops into effect three tourist homes (3 and 4 stars), MGM under its brands, Pierre & Vacances and Maeva (475 apartments in total). A project that fits on two areas: the Crozats and Falaise. Everything will be supplemented by an extensive pool area and playful 2 000 m2, like those developed by Center Parcs. Price later, between 267 000 euros for two rooms and 875 000 for a five-piece (MGM) between 190 and 500 euros for two rooms and 333 000 euros for a three-bedroom apartments. "The marketing of the three programs had already begun, but it is undeniable that the device Scellier-Bouvard, introduced last April, has a decisive impact on the purchasing decision," says Gerard Bremond. The developer also plans to build more homes under this scheme. "For forty years, our strategy is to make choices based on location and tourist potential. The mountain's first season and winter skiing. Why we prefer the stations above 1800 m altitude. "Not far from Avoriaz, Les Gets are also some new programs to expand, thanks to the willingness of newly elected officials. In nine, the offer is around 6 000 to 6 500 euros per m2. "They went up to 7000-8000 euros in previous years," says Chantal Mudry, ACM Estate. In the former, starting between 4 000 and 4 500 euros per m2 on average and up to 6 000 for certain property, as this three-bedroom apartments of 55 m2 sold 345 000.
Isere and Hautes-Alpes also adapt
"Earlier this year, buyers were on the defensive, but the activity starts again and our agencies are working well, says Romain Troivallets, of Alpe Agency. The owners are less greedy. "A small area, which appears in the window of 120 000 to 130 000 euros last year, is now offered at 100 000. It is true that small areas are no longer listing, buyers preferring more friendly apartments. In most neighborhoods, prices are around EUR 6 000 m2 in the former and 7 500 to 8 000 euros per m2 in the nine. Elsewhere, counting rather between 4 000 and 5 000 m2. Just under the Deux-Alpes, where "prices have slightly decreased with the withdrawal of the English," says Marie-Hélène Duclot, agency Lamy. At Chamrousse, the favorite station of Grenoble, demand has also dropped much, except for small areas. A studio of 20 m2 it commonly sells at least 50 000. Farther south, the entrance to the splendid park of Cases, "Serre-Che" is de-sole lack of foreign customers, but "the product well placed to actual market price share still early," shows that share Andre Martin, the owner of a dozen agencies Urbania. A 37 m2 at the foot of the slopes, posted EUR 230 000, was finally negotiated 215 000.
In the new, MGM continues marketing its tourism residence. A three-bedroom apartments of 49 m2 it sells 282 000 euros and can take advantage of the law Demessine dedicated to the revitalization of rural areas (ZRR), which is in Serre-Chevalier. Besides the recovery of VAT, the purchaser receives a tax reduction of 25% of the purchase amount within the limit of 25 000 for a couple and 12 500 euros for a single. Those interested in this device can also explore the side of Montgenevre, Les Orres, Isola, Orcières-Merlette, Risoul and Vars. In these last two stations, the price displayed decreased from 20 to 25%. From 2 400 to 3 200 euros/m2.
More than 300,000 foreclosures in the U.S. in October
The procedures for entering real estate in the United States have involved 332,292 cases in the month of October, is 19 percent higher than last year in the same period, reported Thursday the American press.
The housing market has been hit hard by unemployment at around 10.2 pc, ever since 1983, exposing about 385 households in default of payment of the mortgage and therefore the seizure of property.
"The problem persists even with seizures result in lower prices on the real estate market," warned Stephen Miller, Chairman of the Department of Economics at the University of Nevada at Las Vegas, quoted by Bloomberg.com, noting that it is now know the extent of inventories before the banks are preparing to put on the market.
No fewer than seven million of real estate could be seized by the agencies and loans placed on the market auctions, reads a report prepared by the firm Amherst Securities.
The housing market has been hit hard by unemployment at around 10.2 pc, ever since 1983, exposing about 385 households in default of payment of the mortgage and therefore the seizure of property.
"The problem persists even with seizures result in lower prices on the real estate market," warned Stephen Miller, Chairman of the Department of Economics at the University of Nevada at Las Vegas, quoted by Bloomberg.com, noting that it is now know the extent of inventories before the banks are preparing to put on the market.
No fewer than seven million of real estate could be seized by the agencies and loans placed on the market auctions, reads a report prepared by the firm Amherst Securities.
jeudi 12 novembre 2009
Paris : rising property prices
The average price of residential property in Paris rose 2.6% in two months, to $ 6306 euros/m2 31 October against 6143 euros/m2 September 1, according to the latest barometer of the real estate broker MeilleursAgents.com published today.
This increase is explained rather by "changing the psychology of actors as a fundamental change in the housing market," says the broker.
In Octombrie, the property prices in Paris have fluctuated between 5093 euros/m2 (+1.4% over 3 months) in the 19th district and 10,010 euros/m2 (-0.6%) in the 6th arrondissement.
The high demand for studios and 2 rooms face a relatively low supply on the market that prices of small areas are growing strongly (+6% in 6 months) than those of supermarkets (1%). A good sign, the share of supermarkets, 3 rooms or more, rose over two months to 45% of total sales against 35% in 2008.
Even if the contract of purchase and resale seems "to unjam", the total volume of transactions is two months behind by 10% over the same period of 2008 and 25% compared to 2007. "We can speak volumes still relatively low, indicating that the recovery is still solid," said the broker.
The results of this barometer is based on the promise of sale signed by the 250 real estate partners MeilleursAgents.com
This increase is explained rather by "changing the psychology of actors as a fundamental change in the housing market," says the broker.
In Octombrie, the property prices in Paris have fluctuated between 5093 euros/m2 (+1.4% over 3 months) in the 19th district and 10,010 euros/m2 (-0.6%) in the 6th arrondissement.
The high demand for studios and 2 rooms face a relatively low supply on the market that prices of small areas are growing strongly (+6% in 6 months) than those of supermarkets (1%). A good sign, the share of supermarkets, 3 rooms or more, rose over two months to 45% of total sales against 35% in 2008.
Even if the contract of purchase and resale seems "to unjam", the total volume of transactions is two months behind by 10% over the same period of 2008 and 25% compared to 2007. "We can speak volumes still relatively low, indicating that the recovery is still solid," said the broker.
The results of this barometer is based on the promise of sale signed by the 250 real estate partners MeilleursAgents.com
USA : the difficulties of commercial property, threat to recovery
The difficulties of commercial real estate appears more threatening to take over the U.S. economy.
In its latest economic report, the central bank of the United States (Fed) notes that this area is the worse off the country.
Commercial real estate includes the rental and sale of local professional use: offices, shops, industrial buildings, shopping malls etc.. The risks it poses to growth are related to rising defaults on mortgages made by banks to companies.
If the sector's difficulties appeared to daylight well after those of housing, the Fed figures show that the default rates on such loans has increased steadily since the bubble burst in real estate loans risk of summer 2007.
According to the Mortgage Bankers Association of America (MBA), late payments of borrowers in this sector increased sharply to a record second quarter
The banks are less exposed to commercial property as housing, but this sector has contributed to the economic recovery started in the third quarter, after losing about a point of growth in the United States in 2007 and 2008.
In contrast, commercial real estate has weighed on growth of about one percentage point annual rate since the beginning of the year after "having had a broadly neutral in 2008," and "indications" that the sector "will continue to weigh on the recovery, "said Janet Yellen Tuesday, a leader of the Fed.
The outlook is "worrying," she said, noting that the difficulties stemmed "largely from the effects of recession and tighter credit, more than the building boom and lax lending" that led to the housing bubble led to the current crisis.
Dennis Lockhart, a colleague of the central bank fears that the sector's problems will result in an "impaired ability of small banks to support small businesses, vital to the United States insofar as they are the engine of job creation.
In fact, he said Tuesday, the smaller banks (with assets less than $ 10 billion) owns more than half of the debt related to commercial real estate in the form of individual loans.
A rising default rate on these loans could create a vicious circle where the bankruptcies of small businesses and small banks will nourish each other. Indeed, small banks provide Lockhart says half of the commercial and industrial loans to small businesses.
In late October, Capmark Financial, a group of commercial real estate financing the bulk of the United States, filed for bankruptcy.
Its bankruptcy is emblematic of the difficulties of the sector, while the market for mortgage-securitization business, which allows lenders to refinance is still very poorly, even by the admission of Ms. Yellen, despite the efforts of the Fed out of the doldrums.
Concerned by the exposure of smaller banks in the U.S. commercial real estate, the IMF noted in late September that the deterioration of the sector itself was now "full speed".
In its latest economic report, the central bank of the United States (Fed) notes that this area is the worse off the country.
Commercial real estate includes the rental and sale of local professional use: offices, shops, industrial buildings, shopping malls etc.. The risks it poses to growth are related to rising defaults on mortgages made by banks to companies.
If the sector's difficulties appeared to daylight well after those of housing, the Fed figures show that the default rates on such loans has increased steadily since the bubble burst in real estate loans risk of summer 2007.
According to the Mortgage Bankers Association of America (MBA), late payments of borrowers in this sector increased sharply to a record second quarter
The banks are less exposed to commercial property as housing, but this sector has contributed to the economic recovery started in the third quarter, after losing about a point of growth in the United States in 2007 and 2008.
In contrast, commercial real estate has weighed on growth of about one percentage point annual rate since the beginning of the year after "having had a broadly neutral in 2008," and "indications" that the sector "will continue to weigh on the recovery, "said Janet Yellen Tuesday, a leader of the Fed.
The outlook is "worrying," she said, noting that the difficulties stemmed "largely from the effects of recession and tighter credit, more than the building boom and lax lending" that led to the housing bubble led to the current crisis.
Dennis Lockhart, a colleague of the central bank fears that the sector's problems will result in an "impaired ability of small banks to support small businesses, vital to the United States insofar as they are the engine of job creation.
In fact, he said Tuesday, the smaller banks (with assets less than $ 10 billion) owns more than half of the debt related to commercial real estate in the form of individual loans.
A rising default rate on these loans could create a vicious circle where the bankruptcies of small businesses and small banks will nourish each other. Indeed, small banks provide Lockhart says half of the commercial and industrial loans to small businesses.
In late October, Capmark Financial, a group of commercial real estate financing the bulk of the United States, filed for bankruptcy.
Its bankruptcy is emblematic of the difficulties of the sector, while the market for mortgage-securitization business, which allows lenders to refinance is still very poorly, even by the admission of Ms. Yellen, despite the efforts of the Fed out of the doldrums.
Concerned by the exposure of smaller banks in the U.S. commercial real estate, the IMF noted in late September that the deterioration of the sector itself was now "full speed".
SeLoger Barometer : lower prices boost the property market
The SeLoger.com barometer of housing prices nationally ends in October, posting a decline of 0.4%. This fall, one of the highest recorded this year by the barometer, however, implying a market recovery, according to Roland Triparde, CEO of SeLoger.com. "In many large cities, vendors seem to have taken the measure of the turnaround in the housing market and lower their demands," said the broker. Dropouts price above 3% were covered in Auxerre, Toulouse, Laval, Nevers, Nantes and Grenoble. On the front rent, rents remain stable in most major cities of France, including Paris, where rents rose almost no more.
mercredi 11 novembre 2009
Montreal : The lounge of the hotel property to be held from November 13 to 15
A good opportunity to discover the investment needed in French Canada. The fifth edition of the Real Estate Exhibition and condominium hotel will be in effect from November 13 to 15 at the Palace of Congress in Quebec city.
Wealth of information and contacts spread over nearly 200 exhibition booths, the fair will be an opportunity to meet suppliers of management, the best consultants in Quebec legal, brokers, insurers, service and maintenance renovation or decorators.
Wealth of information and contacts spread over nearly 200 exhibition booths, the fair will be an opportunity to meet suppliers of management, the best consultants in Quebec legal, brokers, insurers, service and maintenance renovation or decorators.
European capitals unequally affected by the downturn in real estate
While in many capitals, the property prices fall ... some still resist the crisis. A survey conducted Era Real Estate from 19 countries reported significant disparities across Europe.
Victim withdrawal of foreign investors, including Russian, Monaco has seen its price tumbled 9% during the first six months of the year, according to Era Immobilier
Leaded by an increase of double-digit unemployment and an oversupply of homes, real estate Spain also continues to crumble. Over the same period, falling property prices rose 10% across the country with declines of nearly 7% in major cities like Madrid or Barcelona.
The Anglo-Saxons are not yet out of the storm: in the first half, London (- 3%) and Dublin (-7%) showed strong declines.
Conversely, some cities are showing resistance. Brussels is the case, which according Era still enjoys a strong local demand. Also include Geneva in Switzerland and Istanbul in Turkey: "Two countries where recent legal developments facilitate home ownership by foreign investors," said Francois Gagnon, president of the European Real Estate Network Era.
According to the real estate network, Paris is still a stronghold ... But if prices remain generally in the capital, this good performance also conceals large disparities between districts.
The most expensive capitals in Europe (*):
Monaco: € 30,000
London: between 10,000 and 12,000 euros
Geneva: 7500 at 8,000 euros per
Milan, Paris: 6000 to 6500 euros
The cheapest cities:
Istanbul: 800 to 900 euros
Budapest: 1200 EUR
Sofia: 2500 EUR
(*) Average price / square meter. Source Era Real Estate
Victim withdrawal of foreign investors, including Russian, Monaco has seen its price tumbled 9% during the first six months of the year, according to Era Immobilier
Leaded by an increase of double-digit unemployment and an oversupply of homes, real estate Spain also continues to crumble. Over the same period, falling property prices rose 10% across the country with declines of nearly 7% in major cities like Madrid or Barcelona.
The Anglo-Saxons are not yet out of the storm: in the first half, London (- 3%) and Dublin (-7%) showed strong declines.
Conversely, some cities are showing resistance. Brussels is the case, which according Era still enjoys a strong local demand. Also include Geneva in Switzerland and Istanbul in Turkey: "Two countries where recent legal developments facilitate home ownership by foreign investors," said Francois Gagnon, president of the European Real Estate Network Era.
According to the real estate network, Paris is still a stronghold ... But if prices remain generally in the capital, this good performance also conceals large disparities between districts.
The most expensive capitals in Europe (*):
Monaco: € 30,000
London: between 10,000 and 12,000 euros
Geneva: 7500 at 8,000 euros per
Milan, Paris: 6000 to 6500 euros
The cheapest cities:
Istanbul: 800 to 900 euros
Budapest: 1200 EUR
Sofia: 2500 EUR
(*) Average price / square meter. Source Era Real Estate
Real Estate : transaction delays continue to grow
Evolution contrast to the real estate market. If house prices registered a slight decline (- 0.26%) in October, those apartments are divided up (+ 1.03%), according to the latest barometer of De Particulier à Particulier.
The apartment market has primarily been driven by investors wishing to buy to rent, observes PAP.
Proof that despite the thrill of recovery is not yet on the agenda: negotiating the rate, which measures the difference between the initial price of an advertisement and the actual price of the transaction continues to increase on the whole market. Between September and October, it rose 6.19% to 6.33% for flats and 7.43% to 7.79% for houses. Especially, the time of transactions continue to grow: we must now average 13 weeks to sell an apartment, and 16 weeks to sell a house. An additional week until September.
The apartment market has primarily been driven by investors wishing to buy to rent, observes PAP.
Proof that despite the thrill of recovery is not yet on the agenda: negotiating the rate, which measures the difference between the initial price of an advertisement and the actual price of the transaction continues to increase on the whole market. Between September and October, it rose 6.19% to 6.33% for flats and 7.43% to 7.79% for houses. Especially, the time of transactions continue to grow: we must now average 13 weeks to sell an apartment, and 16 weeks to sell a house. An additional week until September.
mardi 10 novembre 2009
Monaco and London the most expensive cities
Monaco keeps the first place among the most expensive cities in Europe, despite falling property prices by 9% over the first six months of 2009, according to a survey conducted by the network of estate agents in 19 countries Era cited by Capital.fr.
According to its figures, the average price per square foot in the capital of the Rock reached 30,000 euros, almost three times more expensive than London, which occupies the second place ranking with average prices between 10,000 and 12,000 euros/m2. The third step of the podium Geneva found that displays average prices between 7500 and 8000 euros/m2.
According to figures of ERA, the French capital sharing fourth place with Milan, the average price per square foot ranging between 6,000 and 6,500 euros, with strong disparities between districts.
On the contrary, European cities are the least expensive Sofia (2500 euros/m2) euros/m2 and Budapest 1200), according to the survey.
According to its figures, the average price per square foot in the capital of the Rock reached 30,000 euros, almost three times more expensive than London, which occupies the second place ranking with average prices between 10,000 and 12,000 euros/m2. The third step of the podium Geneva found that displays average prices between 7500 and 8000 euros/m2.
According to figures of ERA, the French capital sharing fourth place with Milan, the average price per square foot ranging between 6,000 and 6,500 euros, with strong disparities between districts.
On the contrary, European cities are the least expensive Sofia (2500 euros/m2) euros/m2 and Budapest 1200), according to the survey.
Suspicion about the overheated real estate in several Chinese cities
The current state of the continuous rise in sales prices of homes in several major Chinese cities including Beijing, Shanghai, Guangzhou and Shenzhen concerned and worried everyone. The weekly "Liaowang (Observation) issued to that subject an article indicating that one of the main reasons why house prices in these cities continue to beat all records of the past despite the economy China is still in the recovery of the slope is the great movie recently on the market of selling luxury homes and luxurious, while the sellers of these upscale homes have all without exception played the 'map investment ', that is to say that the so-called' nature of scarcity and failure ', who plays for the investment value, is the main reason for the sale of housing prices high.
Whether in Beijing, Guangzhou, Hangzhou and other cities whose housing markets are in turmoil this year after several rounds of price increases, housing prices are currently at a very high level and is close to d 'reach the historic summit. Guo Shiping, Director of the Institute of International Finance at the University of Shenzhen, and other specialists in the field have indicated that there are great suspicions against housing prices in these cities because they them as detached from the main aspect of our economy. Firstly, the Chinese economy is currently still in the recovery phase and it does not yet know a warming track. GDP growth reached 7.1% during the first half of this year, while the price of housing is far greater than GDP growth, which has a tendency to overheat. One can cite the example of Shenzhen, compared with house prices in January, prices rose by 64.3% in August, while at present, Shenzhen is still finding difficulties in its exports and manufacturing industries, which proves that he has not gotten rid of the crisis and its overall economic situation can not withstand so overheated property market.
Then, in those cities where house prices have broken all records, the volume of the successful sale of homes experiencing a decline in general and a sizeable reduction. The data clearly show that in August the total number and total area of new homes sold amounted respectively to 4114 units and 386,000 square meters, a decrease of almost 20% and 25% from the previous month and is continuing the downward trend that began last May on the real estate market in the city.
As the market situation is currently supported by investment, environment specialists interviewed without exception expressed their worry and concern. Guo Shiping think monetary policy is likely to change and that if this policy will be tightened, it is possible that housing held by many investors will be sold in large quantities on the market, and this time, people who bought homes at the current high prices would then face the loss of their property and at the same time, banks accumulate large risks.
Experts have said that 'high land prices' first lead of the rising 'stock price' and then it will be that land prices will increase even more.
As for Yougene Qian, Director of land transactions in the city of Nanchang, he said that housing prices in many cities have seen an increase this year "by leaps and bounds" and that the increase will be difficult to impetuous monitor and maintain, which shows that the Chinese real estate market has not yet reached maturity and did not accede to the circular stage sound. The frequent occurrence of 'land kings' is no good, because some are higher compared to prices of homes located nearby. Besides their ability to create this rising house prices, the large amount of unused funds are sleeping in the property sector and this is a great loss for the macroeconomy.
According to him, there are rules and provisions hidden and latent whatsoever in the land market or whether the real estate market. Public companies have no fear of high land prices, because their goods are in their capital accounts and provided they had any land they could then apply for funding to carry out a project, while the losses have incurred would be offset elsewhere. As for listed companies, it is necessary and important for them to have good success in order to keep prices of their shares, and conversely, developers will be forced to spend more to acquire more land . Thus, real estate companies listed will come in a vicious circle characterized by 'high land prices - high prices of shares - land prices even higher. " "Public companies currently have no problem of funds, publicly traded companies can use money from punters. Large systematic risks caused by land prices and high prices will ultimately be borne by financial institutions and stock markets and anyway, it will always be ordinary people who foot the bill and who will suffer. "
Lin Zengjie, director of studies at PhD Candidate, Department of Land Management of the Renmin University of China, said that in the current situation where house prices have beaten once again records the past, this marks the growth of the housing bubble. Given the macroeconomic situation, including the 'three horses' causing the Chinese economy in recent months, exports continued to register negative growth, while the CPI (index of consumer prices) continues its decline and income residents has not increased much. For now, the main problem is that the storm created by speculative investment in the property market is still strong, but it certainly will not last long.
Experts have said the current price of new records created by the housing prices going against the tide certainly exert a considerable pressure on improving the welfare of the population and that this could once again reach the sensitive nerve that is the gap between rich and poor. And especially the phenomena of recent times, such as agitation in the sale of luxury homes and lavish advertisements on wealth and fortune, selling tens of thousands of yuan, the rich layers of society who spend one time tens of millions who are likely to generate dissatisfaction and discontent of the masses of the weaker sectors of society and the evolution of the situation deserves to be taken into account in particular.
Whether in Beijing, Guangzhou, Hangzhou and other cities whose housing markets are in turmoil this year after several rounds of price increases, housing prices are currently at a very high level and is close to d 'reach the historic summit. Guo Shiping, Director of the Institute of International Finance at the University of Shenzhen, and other specialists in the field have indicated that there are great suspicions against housing prices in these cities because they them as detached from the main aspect of our economy. Firstly, the Chinese economy is currently still in the recovery phase and it does not yet know a warming track. GDP growth reached 7.1% during the first half of this year, while the price of housing is far greater than GDP growth, which has a tendency to overheat. One can cite the example of Shenzhen, compared with house prices in January, prices rose by 64.3% in August, while at present, Shenzhen is still finding difficulties in its exports and manufacturing industries, which proves that he has not gotten rid of the crisis and its overall economic situation can not withstand so overheated property market.
Then, in those cities where house prices have broken all records, the volume of the successful sale of homes experiencing a decline in general and a sizeable reduction. The data clearly show that in August the total number and total area of new homes sold amounted respectively to 4114 units and 386,000 square meters, a decrease of almost 20% and 25% from the previous month and is continuing the downward trend that began last May on the real estate market in the city.
As the market situation is currently supported by investment, environment specialists interviewed without exception expressed their worry and concern. Guo Shiping think monetary policy is likely to change and that if this policy will be tightened, it is possible that housing held by many investors will be sold in large quantities on the market, and this time, people who bought homes at the current high prices would then face the loss of their property and at the same time, banks accumulate large risks.
Experts have said that 'high land prices' first lead of the rising 'stock price' and then it will be that land prices will increase even more.
As for Yougene Qian, Director of land transactions in the city of Nanchang, he said that housing prices in many cities have seen an increase this year "by leaps and bounds" and that the increase will be difficult to impetuous monitor and maintain, which shows that the Chinese real estate market has not yet reached maturity and did not accede to the circular stage sound. The frequent occurrence of 'land kings' is no good, because some are higher compared to prices of homes located nearby. Besides their ability to create this rising house prices, the large amount of unused funds are sleeping in the property sector and this is a great loss for the macroeconomy.
According to him, there are rules and provisions hidden and latent whatsoever in the land market or whether the real estate market. Public companies have no fear of high land prices, because their goods are in their capital accounts and provided they had any land they could then apply for funding to carry out a project, while the losses have incurred would be offset elsewhere. As for listed companies, it is necessary and important for them to have good success in order to keep prices of their shares, and conversely, developers will be forced to spend more to acquire more land . Thus, real estate companies listed will come in a vicious circle characterized by 'high land prices - high prices of shares - land prices even higher. " "Public companies currently have no problem of funds, publicly traded companies can use money from punters. Large systematic risks caused by land prices and high prices will ultimately be borne by financial institutions and stock markets and anyway, it will always be ordinary people who foot the bill and who will suffer. "
Lin Zengjie, director of studies at PhD Candidate, Department of Land Management of the Renmin University of China, said that in the current situation where house prices have beaten once again records the past, this marks the growth of the housing bubble. Given the macroeconomic situation, including the 'three horses' causing the Chinese economy in recent months, exports continued to register negative growth, while the CPI (index of consumer prices) continues its decline and income residents has not increased much. For now, the main problem is that the storm created by speculative investment in the property market is still strong, but it certainly will not last long.
Experts have said the current price of new records created by the housing prices going against the tide certainly exert a considerable pressure on improving the welfare of the population and that this could once again reach the sensitive nerve that is the gap between rich and poor. And especially the phenomena of recent times, such as agitation in the sale of luxury homes and lavish advertisements on wealth and fortune, selling tens of thousands of yuan, the rich layers of society who spend one time tens of millions who are likely to generate dissatisfaction and discontent of the masses of the weaker sectors of society and the evolution of the situation deserves to be taken into account in particular.
Chinese billionaires get richer
Byzantium is for the 400 wealthiest Chinese whose wealth swelled to $ 141 billion this year, according to Forbes magazine. They now weigh 314 billion dollars, against 173 a year ago! The number of Chinese billionaires in dollars has risen from 24 last year to 79, knowing that the classification has been revised upwards and it counts more than the fortunes of at least 300 million dollars against 200 million a year earlier. Soaring Awards Hong Kong and Shanghai, which rose by 56% and 69% respectively, there is also something unique in this enrichment.
While other billionaires have seen their fortunes melt and seriously decrease their number, the richest Chinese are proud of this sudden rebound in their stock after the financial crisis of 2008. Although still a minority compared to their American peers, the Chinese billionaires get richer faster, said a senior Forbes, Russell Flannery. Also, the magazine is very optimistic about the future and potential of the Chinese stock market, announcing that "the best is yet to come. More than ever, new opportunities open to Chinese entrepreneurs determined to seize them and with them, others will build fortunes. "
Who are these Chinese billionaires?
Number one was long dubbed the "King of the battery" for his aptly named company Build Your Dream (BYD), had initially specialized in batteries for mobile phones. Fourteen years after having built his company, Wang Chuanfu (photo-cons, Forbes) has become the richest man in China with a fortune of 5.8 billion dollars. And behold, that takes 6 years to build automobiles including electric cars. His goal: to become number one automobile in China in 2015 ... and the world in 2025.
Then comes Liu Yongxing (photo-cons, Forbes), tops the list last year, he is the CEO of private farm group East Hope and shareholder in China Minsheng Bank, Minsheng Insurance and Brighty Dairy.
Zong Qinghou, CEO of Wahaha Food Group, ranks third.
A woman comes in 5th position, Yang Huiyan, who holds shares of Country Gardens, a real estate conglomerate founded by his father, Yang Guoqiang, mason training and become one of the richest property developers in China.
These self-made man "Chinese who built their fortunes in the years 1990-2000 we suggest that there is a" Chinese dream "next to the" American dream ".
While other billionaires have seen their fortunes melt and seriously decrease their number, the richest Chinese are proud of this sudden rebound in their stock after the financial crisis of 2008. Although still a minority compared to their American peers, the Chinese billionaires get richer faster, said a senior Forbes, Russell Flannery. Also, the magazine is very optimistic about the future and potential of the Chinese stock market, announcing that "the best is yet to come. More than ever, new opportunities open to Chinese entrepreneurs determined to seize them and with them, others will build fortunes. "
Who are these Chinese billionaires?
Number one was long dubbed the "King of the battery" for his aptly named company Build Your Dream (BYD), had initially specialized in batteries for mobile phones. Fourteen years after having built his company, Wang Chuanfu (photo-cons, Forbes) has become the richest man in China with a fortune of 5.8 billion dollars. And behold, that takes 6 years to build automobiles including electric cars. His goal: to become number one automobile in China in 2015 ... and the world in 2025.
Then comes Liu Yongxing (photo-cons, Forbes), tops the list last year, he is the CEO of private farm group East Hope and shareholder in China Minsheng Bank, Minsheng Insurance and Brighty Dairy.
Zong Qinghou, CEO of Wahaha Food Group, ranks third.
A woman comes in 5th position, Yang Huiyan, who holds shares of Country Gardens, a real estate conglomerate founded by his father, Yang Guoqiang, mason training and become one of the richest property developers in China.
These self-made man "Chinese who built their fortunes in the years 1990-2000 we suggest that there is a" Chinese dream "next to the" American dream ".
lundi 9 novembre 2009
Real estate : buyers get up to 7.79% discount
In recent years, buyers had lost the usual bargain prices. According to the index published by Person to Person (PAP), they are caught ... Rate negotiation, which represents the ratio between the price of the transaction and the one shown on the listing, has more than tripled in just four years. For homes, it in effect amounted to 2.22% from 1 November 2005 - and even 2.09% on 1 December - against 7.79% now. A very steady trend since the rate negotiation has never stopped growing since 1 July 2008.
The PAP index is the same tendency toward the apartments, but at a slightly lower level. They have now reached 6.33% of the purchase price, against 1.88% four years ago.
Buyers have understood: Time is the key factor of a successful negotiation. Not surprisingly, in these conditions, the average transaction time also increases. Since 2005, it rose from 5 to 13 weeks for flats and 7 to 16 weeks for homes. Of the two categories of goods, the period has increased from one week between 1 October and 1 November.
"These indicators are also signs that the market remains illiquid," says one in PAP, which notes, however, a ... increase in apartment prices. It reached 1.03% in October compared to the previous month and 1.24% for three months. Since the beginning of the year, there is a quasi-stable (-0.24%) on this category of goods. No reversal, however, the side of houses: - 0.26% on month - 5.92% over one year.
Of course, these price statistics should not be taken for granted. Indeed, the PAP index is based only on the first eight French cities and tens of thousands of transactions. Nevertheless, several lessons can be drawn from these figures. First, all cities do not follow the same trend. In Paris, for example, the average price per square foot is down on three months (-0.14%) to 6927 euros, while it increases over the same period in Lyon (2,827 euros per square meter) or Nice ( 3677 euros).
But the reason for the upturn in October due in large part to falling real estate loans during the month of September. Many households were able to find a mortgage, thus releasing some situations where buyers and sellers were camping on their positions. "The improvement in credit conditions have also led investors to return rental market, which has supported the price of apartments but not the houses' analysis does one among PAP.
The studies contradicting regularly publishing the figures of notaries and network Laforet late November is eagerly awaited.
The PAP index is the same tendency toward the apartments, but at a slightly lower level. They have now reached 6.33% of the purchase price, against 1.88% four years ago.
Buyers have understood: Time is the key factor of a successful negotiation. Not surprisingly, in these conditions, the average transaction time also increases. Since 2005, it rose from 5 to 13 weeks for flats and 7 to 16 weeks for homes. Of the two categories of goods, the period has increased from one week between 1 October and 1 November.
"These indicators are also signs that the market remains illiquid," says one in PAP, which notes, however, a ... increase in apartment prices. It reached 1.03% in October compared to the previous month and 1.24% for three months. Since the beginning of the year, there is a quasi-stable (-0.24%) on this category of goods. No reversal, however, the side of houses: - 0.26% on month - 5.92% over one year.
Of course, these price statistics should not be taken for granted. Indeed, the PAP index is based only on the first eight French cities and tens of thousands of transactions. Nevertheless, several lessons can be drawn from these figures. First, all cities do not follow the same trend. In Paris, for example, the average price per square foot is down on three months (-0.14%) to 6927 euros, while it increases over the same period in Lyon (2,827 euros per square meter) or Nice ( 3677 euros).
But the reason for the upturn in October due in large part to falling real estate loans during the month of September. Many households were able to find a mortgage, thus releasing some situations where buyers and sellers were camping on their positions. "The improvement in credit conditions have also led investors to return rental market, which has supported the price of apartments but not the houses' analysis does one among PAP.
The studies contradicting regularly publishing the figures of notaries and network Laforet late November is eagerly awaited.
China wants to rein in developers
China, if one believes the "China Daily", close to the government seems determined to fight against the forced demolition of homes for real estate projects. To call for new measures, the China Daily in an editorial cites two recent cases: the death sentence of a real estate developer Wanzhou, accused of murdering a man who opposed the destruction of the house his parents, and was sentenced to three years imprisonment suspended for an owner who had killed one person, sent by a developer to break and enter his house. For the paper, these two cases are the result of a very long conflict between promoters and families whose homes are in construction zones. But the newspaper suggests, the aim is to find "a platform for developers and residents to negotiate as equals." The Chinese daily abnormal judge that proponents make huge profits, while residents do not pay that compensation, insufficient to buy a new home. Moreover, it is necessary to take measures to prevent property developers to resort to illegal means to destroy the houses. "Requiring developers to comply with rules, is also in the interest of good real estate development" in China, says the China Daily.
U.S. : rising vacancy estate
According to the U.S. Census Bureau, the vacancy rate of properties in the United States have increased slightly, rising to the third quarter to 18.8 million unoccupied homes, against 18.4 million in the third quarter of 2008.
The vacancy rate includes foreclosures, properties for sale and vacant properties.
Most vacant property had been reached in the first quarter of 2009 with 18.95 million vacancies.
The vacancy rate includes foreclosures, properties for sale and vacant properties.
Most vacant property had been reached in the first quarter of 2009 with 18.95 million vacancies.
dimanche 8 novembre 2009
U.S. : stabilization of the housing market?
According to a study published by Bloomberg News, the latest indicators look a real let U.S. housing market recovering.
On the construction market economists predict for the month of September 2009 an annual rate of 610 000 units of construction, the highest figure since November 2008. Building permits are also increasing at an annual rate of 590 000 units.
Moreover, facing the fear of relapse, the Central Bank of the United States intends to maintain its low interest rates.
A rise in the real estate index and Wells Fargo would be expected, he should spend 19 to 20 according to economists.
On the construction market economists predict for the month of September 2009 an annual rate of 610 000 units of construction, the highest figure since November 2008. Building permits are also increasing at an annual rate of 590 000 units.
Moreover, facing the fear of relapse, the Central Bank of the United States intends to maintain its low interest rates.
A rise in the real estate index and Wells Fargo would be expected, he should spend 19 to 20 according to economists.
U.S. : A real estate magnate bought the house Madoff
Steven Roth, a real estate magnate U.S. have bought the house of Bernard Madoff on Long Island for $ 9.4 million (6.3 million), nearly 6% more than its asking price according to an article in The Wall Street Journal. This house with 4 rooms located on the beach in an area frequented by the rich and famous, had been put on sale in September.
Bernard Madoff (71), president and founder of a leading investment firms on Wall Street, was sentenced in June 2009 to 150 years in prison for financial fraud giant estimated at over 50 billion dollars.
The buyer, Steven Roth, CEO of Vorneo is one of the largest owners of commercial buildings in the United States.
Bernard Madoff (71), president and founder of a leading investment firms on Wall Street, was sentenced in June 2009 to 150 years in prison for financial fraud giant estimated at over 50 billion dollars.
The buyer, Steven Roth, CEO of Vorneo is one of the largest owners of commercial buildings in the United States.
samedi 7 novembre 2009
U.S. Real Estate : Fannie Mae widening its loss
The establishment of U.S. mortgage refinancing Fannie Mae Announces New net loss of 18, 9 billion in the third quarter against $ 15.2 billion in the second quarter of 2009. Therefore, Fannie Mae has asked the Treasury public assistance by 15 billion dollars. The losses of the company reached 56.8 billion dollars over the first nine months of the year.
According to Wall Street Journal, Fannie Mae has launched a program offering owners who can not repay their loans to become tenants in order to avoid being deported. Thus, borrowers could transfer their property to the lender as part of a title cons lease. Subsequently, they could rent housing at market prices.
According to Wall Street Journal, Fannie Mae has launched a program offering owners who can not repay their loans to become tenants in order to avoid being deported. Thus, borrowers could transfer their property to the lender as part of a title cons lease. Subsequently, they could rent housing at market prices.
vendredi 6 novembre 2009
U.S. Real Estate: tax credit extended for 6 months
The U.S. Senate has voted unanimously the bill on the extension of tax breaks for purchasers of property.
According to the text adopted, the device tax credit of $ 8,000 for new buyers is extended for six months, until April 30, 2010.
At the same time, homeowners over 5 years wishing to relocate will receive a tax credit of 6,500 euro.
According to the text adopted, the device tax credit of $ 8,000 for new buyers is extended for six months, until April 30, 2010.
At the same time, homeowners over 5 years wishing to relocate will receive a tax credit of 6,500 euro.
Switzerland: the most expensive real estate in the world
Switzerland is the most expensive country in the world in regard to housing, according to a survey taken in 2009 ERA Real Estate by laTribune.fr. The average house price stood at 348,000 euros at national level, while the rate of ownership of 37.5% is one of the lowest in Europe.
Ireland has the second ranking with an average price of homes for 259,098 euros, followed by France, in third place, with homes worth an average of 255,780 euros at the national level.
Despite higher house prices, Ireland has a rate of owners of 72% against 58% in France.
Ireland has the second ranking with an average price of homes for 259,098 euros, followed by France, in third place, with homes worth an average of 255,780 euros at the national level.
Despite higher house prices, Ireland has a rate of owners of 72% against 58% in France.
Pap.fr : contrasting trends in property prices
House prices evolve differently depending on the type of housing. According to latest figures provided by Pap.fr apartments recorded an increase of 1.03% while homes continue to see their prices fall by 0.26%. Since the beginning of the year, the drop was -0.41% for apartments and -4.61% for houses.
In quarterly and annual basis, the apartments show respectively +1.24% and -2.34%. The houses themselves, reflecting a decrease of 0.20% and 5.92%.
Regarding negotiating rates (difference between the price in the ad and that of the transaction), Pap.fr note up to 6.33% for apartments (against 6.19% in September) and 7.79% for houses (7.43% September), reflecting a "persistent lack of fluidity in the housing market."
As the time of transaction, they are also up to 13 weeks for flats and 16 houses (one week from September).
In quarterly and annual basis, the apartments show respectively +1.24% and -2.34%. The houses themselves, reflecting a decrease of 0.20% and 5.92%.
Regarding negotiating rates (difference between the price in the ad and that of the transaction), Pap.fr note up to 6.33% for apartments (against 6.19% in September) and 7.79% for houses (7.43% September), reflecting a "persistent lack of fluidity in the housing market."
As the time of transaction, they are also up to 13 weeks for flats and 16 houses (one week from September).
Real Estate : China housing labelised Disney explode
The Chinese real estate market experienced since last February a real boom, encouraged by various government measures to support economic development and investment. In the Shanghai region, the estate has seen a combine weight of at least unusual: Disney.
The Chinese developers already displayed a wide smile (China Vanke, the leader in construction, has seen sales take off more than 95% in October), the hilarity could soon win, including those established in Shanghai and its environs. On 4 November, the Chinese government has in effect endorsed the implementation of a Disneyland in the region. For business owners, the announcement had the effect of a bomb whose effects have not been waiting. In the hours that followed the decision to allow the Disney theme park to settle the land and property for sale near saw applications flow and inflate their prices dramatically. The owner of land would have sold well at a price 4 times higher than it originally sought.
In 2007, the city of Chuansha (nearby Shanghai to host the park), an individual could afford a new property for 2000 to 3000 yuan per square meter (between 197 and 295 euros). Rumors of a possible settlement of Disney have changed the outlook of real estate in the region to establish the price per square foot between 9000 and 11,000 yuan in February 2009 (between 885 and 1082 euros). The Disney dream come true now, those prices now are around the 17,000 yuan (1,672 euros).
"If Disney moved here, the old district Chuansha will be rebuilt. It's good for everybody and it will boost the industry "welcomes owner. Although the winners of the moment, the developers show some caution, however, explains a local real estate agent: "the question is not whether to sell or not. Since the news was confirmed, no one knows to what extent the presence of Disneyland will affect housing prices. So the developers prefer to wait and see what happens. " In this context, some developers have even seen fit to temporarily halt their sales.
The Chinese developers already displayed a wide smile (China Vanke, the leader in construction, has seen sales take off more than 95% in October), the hilarity could soon win, including those established in Shanghai and its environs. On 4 November, the Chinese government has in effect endorsed the implementation of a Disneyland in the region. For business owners, the announcement had the effect of a bomb whose effects have not been waiting. In the hours that followed the decision to allow the Disney theme park to settle the land and property for sale near saw applications flow and inflate their prices dramatically. The owner of land would have sold well at a price 4 times higher than it originally sought.
In 2007, the city of Chuansha (nearby Shanghai to host the park), an individual could afford a new property for 2000 to 3000 yuan per square meter (between 197 and 295 euros). Rumors of a possible settlement of Disney have changed the outlook of real estate in the region to establish the price per square foot between 9000 and 11,000 yuan in February 2009 (between 885 and 1082 euros). The Disney dream come true now, those prices now are around the 17,000 yuan (1,672 euros).
"If Disney moved here, the old district Chuansha will be rebuilt. It's good for everybody and it will boost the industry "welcomes owner. Although the winners of the moment, the developers show some caution, however, explains a local real estate agent: "the question is not whether to sell or not. Since the news was confirmed, no one knows to what extent the presence of Disneyland will affect housing prices. So the developers prefer to wait and see what happens. " In this context, some developers have even seen fit to temporarily halt their sales.
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