The Chinese authorities are to require banks to disclose information before the end of June on the quality of their loan portfolios and to take steps to curb the credit risk to land developers, show Sunday Banking Regulatory Commission . The land prices have more than doubled last year in China and in Beijing, some land has reached record prices in recent months when they were bought by state-owned companies whose core business has nothing to do with real estate. The measures represent the latest step in the campaign launched by the Chinese authorities to curb the surge in bank lending and the housing prices, which may lead to an explosion of bad loans.
dimanche 11 avril 2010
mercredi 7 avril 2010
Real estate: prices flirting again with the highest level
The former real estate prices rise slightly in Q1 2010, according to Century 21. They are growing very strongly in Paris (+7.4%). Lower prices, linked to the crisis is almost erased.
The figures published today by Century 21, must be examined carefully. First because it is the first market participant to decide on price trends in Q1 2010 (FNAIM will do next week, when lawyers will, themselves, also next week, balance, but in 2009 only). Secondly, because it is a serious player: this network of agencies, selling prices are automatically filled by the field agencies, because these are the prices that are the basis for the commission paid to head network. So do not play with the numbers rising with Century 21. Better, inspectors will even twice a year, check in agencies that prices shown are correct. In these circumstances, we can say that the figures published today are the exact reflection of what happened in the Century 21 agencies in the first quarter of 2010. Can we therefore extrapolate these figures to the whole market? A priori, no, 900 Century 21 agencies weigh only 8% of total business done by realtors. It is however, a good indication of what is happening now on the market until the lawyers tell us more, five or six months.
Average prices per square meter of housing former recorded an increase of 6.97% over twelve months and a positive variation of 0.41% from Q4 2009 and Q1 2010, according to the memo on the economy published today by branch network Century 21. Course of regional disparities. The regions where prices had climbed over the second half of 2009 (+5.6% Franche-Comte, Basse-Normandie 7.3%, Haute-Normandie + 6%, Pays-de-la-Loire 4.5 %) are those where prices have declined most in the first quarter. "In these regions, the market was regulated automatically with, initially, an adjustment of volumes, which resulted in a second step, a rebalancing of prices," says one with Century 21, which concludes that "the dynamism of the real estate market is not so old that moderation of rising prices." They now flirting "with their highest levels, offsetting the decline with the crisis." As a result, Century 21 confirms its forecast earlier this year and reaffirms that the total price in the former should increase by 1% to 3% in 2010, if interest rates do not undergo augmentation.
Transactions on the rise and fall time of sale
"The activity is rising again, and this, whether for the home market or for those apartments," according to Century 21. In volume terms, the network is an increase of 7.86% of transactions at the national level over three months (+38.6% year on year). More good news: the average selling time shortened from 103 days in Q1 2009 to 89 days in Q1 2010, a trend that applies to the flats as for houses.
Very high prices in Paris
Looked at more closely, the disparities are apparent, with Paris, which continues to go it alone. The former real estate prices are "substantial increase, to 11.3% yoy and 7.4% between Q1 2010 and Q4 2009" by Century 21. This marked shift has hurt the market, which recorded a decrease in sales volumes of around 3.6% over the last three months (versus 36.5% a year). "The Paris market is also characterized by an LTV well below the national average (67% against 77.3% for the hexagon), and shorter durations of loans to approximately 16.9% over one year settle at 20.19 years, while they are relatively stable nationwide. This suggests that the Paris market is experiencing a return of more pronounced secondo buyers and AB +, which, being a wait, had abandoned the market in 2009, "says one with Century 21.
The trend is much less marked in the Paris suburbs, "with higher average prices per square meter of 5.4% between Q1 2010 and Q1 2009, and 1.07% between Q1 2010 and the last quarter 2009. By the same logic, the more moderate price developments allows the market "to experience strong momentum: + 42.2% in volume over a year.
The figures published today by Century 21, must be examined carefully. First because it is the first market participant to decide on price trends in Q1 2010 (FNAIM will do next week, when lawyers will, themselves, also next week, balance, but in 2009 only). Secondly, because it is a serious player: this network of agencies, selling prices are automatically filled by the field agencies, because these are the prices that are the basis for the commission paid to head network. So do not play with the numbers rising with Century 21. Better, inspectors will even twice a year, check in agencies that prices shown are correct. In these circumstances, we can say that the figures published today are the exact reflection of what happened in the Century 21 agencies in the first quarter of 2010. Can we therefore extrapolate these figures to the whole market? A priori, no, 900 Century 21 agencies weigh only 8% of total business done by realtors. It is however, a good indication of what is happening now on the market until the lawyers tell us more, five or six months.
Average prices per square meter of housing former recorded an increase of 6.97% over twelve months and a positive variation of 0.41% from Q4 2009 and Q1 2010, according to the memo on the economy published today by branch network Century 21. Course of regional disparities. The regions where prices had climbed over the second half of 2009 (+5.6% Franche-Comte, Basse-Normandie 7.3%, Haute-Normandie + 6%, Pays-de-la-Loire 4.5 %) are those where prices have declined most in the first quarter. "In these regions, the market was regulated automatically with, initially, an adjustment of volumes, which resulted in a second step, a rebalancing of prices," says one with Century 21, which concludes that "the dynamism of the real estate market is not so old that moderation of rising prices." They now flirting "with their highest levels, offsetting the decline with the crisis." As a result, Century 21 confirms its forecast earlier this year and reaffirms that the total price in the former should increase by 1% to 3% in 2010, if interest rates do not undergo augmentation.
Transactions on the rise and fall time of sale
"The activity is rising again, and this, whether for the home market or for those apartments," according to Century 21. In volume terms, the network is an increase of 7.86% of transactions at the national level over three months (+38.6% year on year). More good news: the average selling time shortened from 103 days in Q1 2009 to 89 days in Q1 2010, a trend that applies to the flats as for houses.
Very high prices in Paris
Looked at more closely, the disparities are apparent, with Paris, which continues to go it alone. The former real estate prices are "substantial increase, to 11.3% yoy and 7.4% between Q1 2010 and Q4 2009" by Century 21. This marked shift has hurt the market, which recorded a decrease in sales volumes of around 3.6% over the last three months (versus 36.5% a year). "The Paris market is also characterized by an LTV well below the national average (67% against 77.3% for the hexagon), and shorter durations of loans to approximately 16.9% over one year settle at 20.19 years, while they are relatively stable nationwide. This suggests that the Paris market is experiencing a return of more pronounced secondo buyers and AB +, which, being a wait, had abandoned the market in 2009, "says one with Century 21.
The trend is much less marked in the Paris suburbs, "with higher average prices per square meter of 5.4% between Q1 2010 and Q1 2009, and 1.07% between Q1 2010 and the last quarter 2009. By the same logic, the more moderate price developments allows the market "to experience strong momentum: + 42.2% in volume over a year.
mardi 6 avril 2010
New lower rates of housing loans in March 2010
According to figures published by the Centre of Housing credit / CSA, rates on home mortgages are down again in March 2010 for the third consecutive month.
lower mortgage rates in March 2010Malgré a very slight increase in late 2009, the movement is considerably lower since November 2008, since when mortgage rates fell 155 points to receive a more 4-year low in Q1 2010.
According to the latest edition of the Observatory of financing residential markets, the average rate of a mortgage to purchase a residential property in France will increase to 3.60% in March against 3.64% in February . (3.70% in the nine and 3.53% in the former)
The online broker Empruntis evokes a decrease of 0.10% to 0.15% depending on the times and regions and provides the same "few drops in the month of April, about 0.05% / 0.10%"
The average rates appear to:
* 3.65% over 15 years
* 3.80% over 20 years
* 4.05% over 25 years
This rate cut should again offset the slight increase in prices recorded by the former Fnaim in February 2010.
lower mortgage rates in March 2010Malgré a very slight increase in late 2009, the movement is considerably lower since November 2008, since when mortgage rates fell 155 points to receive a more 4-year low in Q1 2010.
According to the latest edition of the Observatory of financing residential markets, the average rate of a mortgage to purchase a residential property in France will increase to 3.60% in March against 3.64% in February . (3.70% in the nine and 3.53% in the former)
The online broker Empruntis evokes a decrease of 0.10% to 0.15% depending on the times and regions and provides the same "few drops in the month of April, about 0.05% / 0.10%"
The average rates appear to:
* 3.65% over 15 years
* 3.80% over 20 years
* 4.05% over 25 years
This rate cut should again offset the slight increase in prices recorded by the former Fnaim in February 2010.
lundi 5 avril 2010
Real estate business: advantage to tenants ...
In 2009, tenants have benefited from accompanying measures implemented by donors to help them overcome difficulties related to the financial crisis.
To keep tenants willing to make the keys, owners may grant rent reductions, deductibles, arrangements, renovations ...
The tenant companies have indeed been many having to reduce their expenditure on buildings because such results at half mast.
To reduce costs companies have reduced their workforce and sought to streamline their implementation.
The owners, meanwhile, adopted preferred long-term strategies to keep their tenants and do not end up with empty buildings.
The rent review is topped arrangements with declines of around 5 to 15%, there were also numerous exemptions granted it to say the months of rent-free for that short-term effect improve the operating results of companies ...
The charges were reduced tenants, maintenance contracts revised downwards ...
All these accompanying measures should be phased in 2010 and the trend may soon again be in favor of owners.
To keep tenants willing to make the keys, owners may grant rent reductions, deductibles, arrangements, renovations ...
The tenant companies have indeed been many having to reduce their expenditure on buildings because such results at half mast.
To reduce costs companies have reduced their workforce and sought to streamline their implementation.
The owners, meanwhile, adopted preferred long-term strategies to keep their tenants and do not end up with empty buildings.
The rent review is topped arrangements with declines of around 5 to 15%, there were also numerous exemptions granted it to say the months of rent-free for that short-term effect improve the operating results of companies ...
The charges were reduced tenants, maintenance contracts revised downwards ...
All these accompanying measures should be phased in 2010 and the trend may soon again be in favor of owners.
samedi 3 avril 2010
Great Britain: real estate prices have risen 0.7% in March, according to Nationwide
The UK house prices have rebounded in March, reversing their decline recorded in February, according to the monthly barometer published Friday by the mutual bank Nationwide.
Property prices rose by 0.7% over the month, against a decline of 0.8% the previous month, while reducing their progress on year to 9% after 9.2% in January.
It's better than expected by economists, which projected an increase of 0.2% on month and 8.2% year on year, according to a note from Credit Agricole CIB.
The average price of housing in the United Kingdom is well recovered in March to 164,519 pounds, or about 182,900 euros, Nationwide said in a statement.
According to Martin Gahbauer, the chief economist of the bank, the figures of the last two months reflects the overall stability of the UK housing market.
According to him, beyond the harsh climate which has reduced the transaction this winter, buyers seem hampered by the political climate, a few weeks before British general election, expected on May 6
"With political and economic uncertainties particularly important before the elections, potential buyers are acting with great caution," and "if this trend continues, we should see a small number of homes changing hands, but at relatively stable prices" .
Property prices rose by 0.7% over the month, against a decline of 0.8% the previous month, while reducing their progress on year to 9% after 9.2% in January.
It's better than expected by economists, which projected an increase of 0.2% on month and 8.2% year on year, according to a note from Credit Agricole CIB.
The average price of housing in the United Kingdom is well recovered in March to 164,519 pounds, or about 182,900 euros, Nationwide said in a statement.
According to Martin Gahbauer, the chief economist of the bank, the figures of the last two months reflects the overall stability of the UK housing market.
According to him, beyond the harsh climate which has reduced the transaction this winter, buyers seem hampered by the political climate, a few weeks before British general election, expected on May 6
"With political and economic uncertainties particularly important before the elections, potential buyers are acting with great caution," and "if this trend continues, we should see a small number of homes changing hands, but at relatively stable prices" .
The housing market is better
Realtors? A good indicator of the economy. Today, the stone as the economy heads out from the water, but both of them are not yet fully recovered and remain afloat in midstream. Tails, the good news, leave transactions. This year, Fnaim, the federation of estate agents, believes that the bar of 600 000 transactions could be completed. But the market remains mixed. The nine was widely supported by the success of Scellier law, which allows investors to benefit from a tax of 25% within an investment of EUR 300 000. The former, he, still suffers. Because the coin has two sides. Front side, the bad news, the former has not solved the fluidity necessary for proper functioning of the housing market. Those professionals call the secundo-time buyers, that is to say, households who sell a property to buy another, are still not massively back on the market. In many places and on many products, it is still often difficult to match the expectations of those sellers with buyers.
After a blip like the housing market has gone through, have a good idea of price of goods is difficult. All the buyers and sellers are determined based on their expectations about future price developments. Roughly speaking, professionals assume a status quo prices. The most optimistic recall on certain goods, the most sought increases of the order of a few percent. Others believe that the balance should tilt towards a price reduction. Mathilde Lemoine, director of economic studies of HSBC France, and expects a decline in prices of the old 4% this year. For its part, the Land Bank expects "a drop in prices of 3% in the former and stability in the new." And pout Mouillart Michel, Professor of Economics at Paris X-Nanterre, "there is no risk of sudden fall of the market.
Another less quantifiable changed with the crisis and must be taken into account. In real estate, as elsewhere, households are determined to buy at the right price, to be smart consumers and investors informed. The beating of the heart are more difficult. Today, we buy more with his head than his heart. The ball is still in the camp of buyers. They have attractive credit terms. It is indeed possible for those who have the best records, to find a fixed rate loan over fifteen years to 3.5%. It will be hard to beat. "Interest rates will necessarily undergo one or more increases in 2010," said the broker CAFP. In a market recovering, prices are difficult to read. We publish in this case the numbers of notaries, those of the Credit Foncier Fnaim and according to our tour of France prices in Ile-de-France and its regions. Searched information, necessary but not sufficient. For now, the price changes between a product with and without defects, good or bad situation, are becoming wider. To help you better understand these variations, we have pushed the investigation further. With concrete examples of prices that are resistant and those who decline (page 114) and a tour of France that you can buy if you're lucky enough to have a budget of EUR 500 000 (page 142). On most goods, prices have declined from their level two years ago. But they have not collapsed. In the Ile-de-France, for example, notaries emphasize that "the decline in prices recorded between autumn 2008 and summer 2009 was about 10%. But the downward trend in prices has "interrupted". "On an annual basis, the decline in prices between late 2008 and late 2009 is more than 5.6%," they add. This year they expect a price stabilization. And sounding the alarm. "The resumption of construction of new housing in the private sector is essential to stabilize the market. The shortage of quality housing appropriate to the needs of Parisians is short-term risk of a return of speculation.
The network Orpi evokes a "real recovery, but fragile." A word that recurs in several experts. Mathilde Lemoine and speaks of a "housing demand remains fragile because of imbalances persist. Yet the French like stone. After the fall of shares in 2008, the erosion rate of return on financial investments, many households have even rediscovered the charms of real estate, which enjoys a level of trust greater than financial markets. If market participants, professionals and individuals, are reasonable, it could therefore grown out of this crisis.
The purchasing power of households holding back price increases
In the nine programs are, at least for this year, many to sprout and marketing is well underway (see page 148), and some programs, proponents talk about buyers sleeping room not to miss the opening the sales office. Others talk of bidding on the price of land currently for sale. We find places for runaway phenomena. Sign of fine weather sets found for Real Estate? Nobody dares to translate it well. Because we have not yet met for the recovery that is taking shape into a market stabilized and restored. "A major risk of the recovery is that sellers reflect recovery by rising prices," says Orpi. For the market to find its stride, the sellers should stop dreaming about trees that rise to heaven, and that construction professionals are able to reflect the changing purchasing power of buyers in their projects. In a recent study based on the relationship between prices and incomes, Patrick Artus (Natixis) estimates that property prices are still too high (10 to 15% in France). Today, many proponents say, if prices rise too far, the application will not be there because the acquisition of a home no longer go into the budgets of many households. This constraint incomes and high unemployment limit the potential for price recovery. Managing the crisis will be difficult for the economy as a whole and real estate. This is the challenge of coming months to policies and professionals. For individuals who have the means to, global rates, market and taxation are conducive to a real estate purchase. If they have a project, they have a vested interest in the reality.
After a blip like the housing market has gone through, have a good idea of price of goods is difficult. All the buyers and sellers are determined based on their expectations about future price developments. Roughly speaking, professionals assume a status quo prices. The most optimistic recall on certain goods, the most sought increases of the order of a few percent. Others believe that the balance should tilt towards a price reduction. Mathilde Lemoine, director of economic studies of HSBC France, and expects a decline in prices of the old 4% this year. For its part, the Land Bank expects "a drop in prices of 3% in the former and stability in the new." And pout Mouillart Michel, Professor of Economics at Paris X-Nanterre, "there is no risk of sudden fall of the market.
Another less quantifiable changed with the crisis and must be taken into account. In real estate, as elsewhere, households are determined to buy at the right price, to be smart consumers and investors informed. The beating of the heart are more difficult. Today, we buy more with his head than his heart. The ball is still in the camp of buyers. They have attractive credit terms. It is indeed possible for those who have the best records, to find a fixed rate loan over fifteen years to 3.5%. It will be hard to beat. "Interest rates will necessarily undergo one or more increases in 2010," said the broker CAFP. In a market recovering, prices are difficult to read. We publish in this case the numbers of notaries, those of the Credit Foncier Fnaim and according to our tour of France prices in Ile-de-France and its regions. Searched information, necessary but not sufficient. For now, the price changes between a product with and without defects, good or bad situation, are becoming wider. To help you better understand these variations, we have pushed the investigation further. With concrete examples of prices that are resistant and those who decline (page 114) and a tour of France that you can buy if you're lucky enough to have a budget of EUR 500 000 (page 142). On most goods, prices have declined from their level two years ago. But they have not collapsed. In the Ile-de-France, for example, notaries emphasize that "the decline in prices recorded between autumn 2008 and summer 2009 was about 10%. But the downward trend in prices has "interrupted". "On an annual basis, the decline in prices between late 2008 and late 2009 is more than 5.6%," they add. This year they expect a price stabilization. And sounding the alarm. "The resumption of construction of new housing in the private sector is essential to stabilize the market. The shortage of quality housing appropriate to the needs of Parisians is short-term risk of a return of speculation.
The network Orpi evokes a "real recovery, but fragile." A word that recurs in several experts. Mathilde Lemoine and speaks of a "housing demand remains fragile because of imbalances persist. Yet the French like stone. After the fall of shares in 2008, the erosion rate of return on financial investments, many households have even rediscovered the charms of real estate, which enjoys a level of trust greater than financial markets. If market participants, professionals and individuals, are reasonable, it could therefore grown out of this crisis.
The purchasing power of households holding back price increases
In the nine programs are, at least for this year, many to sprout and marketing is well underway (see page 148), and some programs, proponents talk about buyers sleeping room not to miss the opening the sales office. Others talk of bidding on the price of land currently for sale. We find places for runaway phenomena. Sign of fine weather sets found for Real Estate? Nobody dares to translate it well. Because we have not yet met for the recovery that is taking shape into a market stabilized and restored. "A major risk of the recovery is that sellers reflect recovery by rising prices," says Orpi. For the market to find its stride, the sellers should stop dreaming about trees that rise to heaven, and that construction professionals are able to reflect the changing purchasing power of buyers in their projects. In a recent study based on the relationship between prices and incomes, Patrick Artus (Natixis) estimates that property prices are still too high (10 to 15% in France). Today, many proponents say, if prices rise too far, the application will not be there because the acquisition of a home no longer go into the budgets of many households. This constraint incomes and high unemployment limit the potential for price recovery. Managing the crisis will be difficult for the economy as a whole and real estate. This is the challenge of coming months to policies and professionals. For individuals who have the means to, global rates, market and taxation are conducive to a real estate purchase. If they have a project, they have a vested interest in the reality.
vendredi 2 avril 2010
Further rate cuts
The drop rate mortgages granted to individuals by continuing Broker Empruntis.com. Declines in the month of March spread between -10% and - 15% depending on the duration of loans.
The strongest downward adjustments have taken place earlier this month, but the latest lists received are very slight decline indicates the note. The average rates actually report lower levels still at 3.65% over 15 years, 3.80% over 20 years and 4.05% over 25 years. "These exceptional levels are the result of a further decline of almost generalized from our banking partners, 92% of them have implemented cuts to their list" is namely Empruntis.
The broker also notes that banks play the game full of credit with a level comparable to the Treasury Offer (OAT) to 3.40% from 1 April. "The situation is excellent because the time record set in October 2005 with an average fixed rate of 3.60% over 20 years is almost attained.
Empruntis specifies that rates the lowest in the market are also down sharply, with lower rates of 0.10% / 0.15% to 0.20% for the longest time. "The best ones have therefore particularly advantageous terms with a rate to 3.35% over 15 years and 3.60% over 20 years," concluded Empruntis.
The strongest downward adjustments have taken place earlier this month, but the latest lists received are very slight decline indicates the note. The average rates actually report lower levels still at 3.65% over 15 years, 3.80% over 20 years and 4.05% over 25 years. "These exceptional levels are the result of a further decline of almost generalized from our banking partners, 92% of them have implemented cuts to their list" is namely Empruntis.
The broker also notes that banks play the game full of credit with a level comparable to the Treasury Offer (OAT) to 3.40% from 1 April. "The situation is excellent because the time record set in October 2005 with an average fixed rate of 3.60% over 20 years is almost attained.
Empruntis specifies that rates the lowest in the market are also down sharply, with lower rates of 0.10% / 0.15% to 0.20% for the longest time. "The best ones have therefore particularly advantageous terms with a rate to 3.35% over 15 years and 3.60% over 20 years," concluded Empruntis.
Inscription à :
Articles (Atom)
Articles
