Global Real Estate & Funds News from Propertyshowrooms.com

Cheapest Australian markets highlighted

Mon, 23 Apr 2012 00:00:00 GMT

People seeking property in Australia at a low price may wish to check out the town of Cunnamulla in Queensland, where the average home is worth just AUD$59,500 (£38,300).

The location topped a list of places in the country where it is possible to buy homes for under AU$100,000, based on RP Data's figures, reports News.com.

Others include Roseberry in Tasmania at AU$70,500, Bourke in New South Wales (AU$75,500), Pinaroo in South Australia (AU$80,000) and Minyip in Victoria (AU$82,500).

The news provider quoted advice from Australian Property Monitors economist Andrew Wilson regarding the best bargain investments, who said: "The key is to follow economic activity that will stimulate property demand and take a long-term outlook on capital growth."

Earlier this month, the McKell Institute said a number of steps can be taken to make housing more affordable in general across Australia.

This included planning reforms to help increase building and swapping stamp duty for a new land tax to avoid plots being bought but not built on.

Spanish property prices "are readjusting"

Wed, 11 Apr 2012 00:00:00 GMT

Many vendors are reconsidering the amount they are asking for their properties in Spain, which has resulted in greater interest from Scandinavian buyers.

This is the assertion of Marc Pritchard, sales and marketing director of Taylor Wimpey de Espana, who noted there has been a shift towards more realistic valuations in the country's real estate sector.

"Prices across Spain are readjusting with sellers and agents pricing more reasonably," he stated.

Commenting on a report published by Kyero, which revealed buyers from Sweden, Holland, Belgium, Norway and Denmark are showing a particular interest in Spanish homes, Mr Pritchard said his firm has seen a rise in demand from this demographic, especially on the Costa Blanca.

Research conducted by Caxton FX and published in the Independent on Sunday last month revealed that Spain is still popular among British buyers as well. According to the study, the south European nation was the second most popular location for overseas buyers, with only France attracting more attention.

French property 'supporting real estate funds'

Thu, 22 Mar 2012 00:00:00 GMT

A new report looking at the performance of pan-European property funds has revealed assets in France are among those supporting returns from these investment vehicles.

The IPD study pointed out the stability of the German and French real estate markets, which together account for nearly half of the assets held by the funds surveyed, "supported the continuing recovery in returns".

According to the organisation, these investment vehicles have greater exposure to France, with 29 per cent of the funds' collective holdings in the nation, compared to 19 per cent in Germany.

In 2011, French real estate delivered returns of seven per cent, 1.4 per cent less than the earnings generated by properties in Germany.

A survey published by CB Richard Ellis earlier this month found that France - and in particular Paris - will continue to be on the radar of real estate investors in 2012.

The firm noted Paris is the third most-attractive city in Europe for property purchasers, with nine per cent of respondents describing the French capital as the best place to buy this year.

Interest in Algarve properties rises

Mon, 5 Mar 2012 00:00:00 GMT

There has been an increase in the number of people considering buying a property in Portugal's Algarve region.

According to Infinito Real, viewing figures for the final two months of 2011 tripled compared to the same period in 2010.

However, the firm's managing director Stephen Anderson explained many potential purchasers have unrealistic expectations about what they can get for their money or the level of finance they will be able to secure.

"We have found that many clients coming over on viewings have very little finance to put down and arrive under the premise they will be able to secure a high loan-to-value mortgage," he noted.

Mr Anderson pointed out such financing options are available to those who can prove they have a high income, but recommended having a deposit of at least 30 per cent in order to secure a favourable mortgage rate.

Last month, a report published by the Royal Institution of Chartered Surveyors revealed there is likely to be an increase in the number of distressed properties coming on to the market in Portugal during the first quarter of this year. As a result, supply of this asset class is expected to far outweigh demand.

Supply of distressed Spanish property rises

Wed, 30 Nov 2011 00:00:00 GMT

There has been more distressed property coming on to the market in Spain over the past few months, it has been revealed.

According to the Global Distressed Property Monitor published by the Royal Institution of Chartered Surveyors (Rics) for the third quarter of 2011, Spain experienced one of the greatest increases in the number of such assets available.

However, real estate experts in the nation believe that the rate at which this stock is put up for sale will slow by the end of this year.

Meanwhile, demand for distressed property in Spain fell among specialist funds that have been targeting this asset class during the three months from July to September, compared to the previous quarter, the survey found.

Simon Rubinsohn, Rics chief economist, commented: "The deteriorating picture is most pronounced in the southern European countries, which remain at the centre of the euro crisis."

Research published by Savills earlier this month suggested that investment activity in Spain's commercial property sector is being reined in by uncertainty in the global economy, with investors taking a "conservative" approach to the nation's real estate market.

Sale of Santander properties 'unlikely to affect wider market values'

Thu, 3 Nov 2011 00:00:00 GMT

The value of Spanish properties is unlikely to be affected by Banco Santander's attempts to offload a sizable portion of its real estate assets.

In an article on PropertyInSpain.net, sales manager for the firm Ben Walker commented that any deal between Santander and overseas investors will have "zero effect on property prices in Spain".

He noted that many people currently considering purchasing a home in the country are doing so for lifestyle reasons, rather than as a pure investment.

"Today there are more lifestyle buyers than investors, but there are still huge numbers of properties on the market that keep the prices at a record low level," Mr Walker explained.

Last month, Dow Jones Newswires cited a report by Spanish publication Expansion, which revealed that Santander was in negotiations with two private equity funds about the sale of some of its real estate portfolio.

However, a source with knowledge of the deal claimed that the highest bid offered at that point was €1.3 billion (£1.1 billion) - far short of the €3 billion the bank hopes to achieve by selling off these assets.

Wall Street Fraud Watchdog calls for revamp of home buyer policy

Fri, 9 Sep 2011 00:00:00 GMT

The Wall Street Fraud Watchdog has urged the US congress to look again at the home buyer tax credits scheme and expand it significantly to boost the country's real estate sector.

According to the organisation, extending the incentive - which is currently only available to first-time buyers - to cover all purchasers, including investors, would have "an immediate positive impact on the ailing US economy".

In addition, the group noted that such a move could also help improve stability within US residential real estate markets.

But the watchdog stressed that should the scheme be extended, it must only be offered to those who can actually afford to make the payments towards owning a property.

The comments come as Clear Capital director of research and analytics Dr Alex Villacorta predicted that the housing market in the US could take a further dip after positive activity over the summer.

He noted that price rises are "clearly starting to level off" and highlighted that consumer confidence does not bode well for the performance of the sector during the autumn and winter months.

Australian central bank hails housing outlook as rates rise

Wed, 2 Dec 2009 00:00:00 GMT

The Reserve Bank of Australia has increased its base rate again, stating that the country is seeing a solid recovery in both its economy and property sector.

Speaking after the move to increase the cash rate by 0.25 per cent to 3.75 per cent, governor of the bank Glenn Stevens said that this decision was taken because the economy is normalising, needs less stimulus and faces higher inflation than previously expected.

Commenting on housing, he suggested the credit crunch is easing, remarking: "Credit for housing is expanding at a solid pace and dwelling prices have risen significantly this year."

Although the increase in the rate may make mortgages in Australia more expensive, house prices in the country have been rising, a situation that could continue strongly over the next couple of years as the wider economy continues to bounce back.

Earlier this week, figures from the RP Data Rismark Survey showed that the average home in the country saw its price jump by 1.4 per cent in October, meaning the rise in home values in Australia passed ten per cent over the course of the year so far, with two months of 2009 still to come.

200 million euro for first home buyers and European

Mon, 16 Feb 2009 00:00:00 GMT

The Cyprus government has announced yesterday its new housing plan for low income families. The plan will make 200 million euro available for loans through the Housing Finance Corporation.

The housing plan applies to couples acquiring their first permanent residence in Cyprus or European citizens who live permanently in Cyprus the last five years and have a yearly income of up to 40,000 euro. The plan covers houses up to 200 sqm all over Cyprus.

The loan can be used for either building a house in an existing plot or buying an existing house or apartment. The maximum loan amount can be up to 200,000 euro. The interest rate on the loan will be set to zero for the first two years and after that it will equal the current interest rate of the Housing Finance Corporation.

Hedge funds offers to price in gold

Thu, 29 Jan 2009 00:00:00 GMT

A hedge fund has begun offering investors the chance to have their investment denominated in gold, as worries grow over governments debasing their currencies by printing money...

Sarasin's $100m GCC equity fund to open tomorrow

Tue, 27 Jan 2009 00:00:00 GMT

Sarasin-Alpen & Partners Limited, an asset management company, yesterday said it would launch its Sarasin GCC Equity Opportunities Fund tomorrow. The fund aims to achieve long term capital growth by investing in the equity markets of Saudi Arabia, Kuwait, UAE, Qatar, Oman and Bahrain...

Daman fund posts 4.26% returns

Mon, 19 Jan 2009 00:00:00 GMT

Daman Investments yesterday said its Daman Speculator Fund posted positive total returns of 4.26 per cent in 2008 and declared its second dividend since inception. The Dubai-based investment management company announced the December performance of three of its funds: Daman Speculator Fund, Daman...

Avaron established new investment fund

Mon, 12 Jan 2009 00:00:00 GMT

The fund governor Avaron established new flexible investment fund Avaron’s Private Portfolio that may invest into different asset classes, aripaev.ee reports...

Student Housing Fund to Target $150M in Distressed Assets

Sat, 10 Jan 2009 00:00:00 GMT

While the student housing sector is described by real estate experts as recession resistant, more than a few investors have fallen prey to the ills of the economy and credit market, and that's where the Place/BV Student Housing Fund L.L.C. has decided to carve out an opportunity...

Property fund investors should hold tight

Sun, 4 Jan 2009 00:00:00 GMT

Judging from past experience, when frozen investors were still be able to generate decent returns, early redemptions would be unwise...

Real Estate Fund Investors Pulling Out

Sun, 4 Jan 2009 00:00:00 GMT

I came across an interesting article recently on the Financial Times website. It is interesting for a a number of reasons which I will discuss...

Laxey opposes India fund plan

Wed, 31 Dec 2008 00:00:00 GMT

The second biggest shareholder in Hirco, the Indian property fund, is urging a vote against plans for a reverse takeover announced a week before Christmas...

Asset company in £40bn fund deal

Wed, 31 Dec 2008 00:00:00 GMT

Investment company Aberdeen Asset Management is to take on £40bn of Credit Suisse's fund management business...

Bidders eye Lehman UK mortgage book

Mon, 22 Dec 2008 00:00:00 GMT

A clutch of vulture funds and private-equity bidders are circling a £900m portfolio of British sub-prime mortgages being auctioned by the administrators of Lehman Brothers...

Tough 2009 looms for open ended UK property funds

Sat, 20 Dec 2008 00:00:00 GMT

More redemptions, fund closures and forced sales could beckon in 2009 for UK open-ended property fund managers, a year after an investor exodus sparked suspensions, which they had hoped were temporary. Britain's property market cooled rapidly just before Christmas 2007, triggering a deluge of...

Accel Partners Closes Two Funds

Fri, 12 Dec 2008 00:00:00 GMT

Despite all of the bad news, there is at least one bright spot amongst it all with Palo Alto, Calif.,-based Accel Partners closing on two new funds totaling more than $1 billion, according to VentureBeat.com. Best known for backing Facebook, the growth fund is significant because it’s an expansion of Accel’s core practice by broadening its scope with the fund investing in information technology, internet, digital media, mobile, networking, software, and services startups, according to the report...

€10m grant scheme for tourism projects by enterprises

Fri, 12 Dec 2008 00:00:00 GMT

A €10 million grant scheme was officially launched by Mario de Marco, parliamentary secretary for Tourism, in support of sustainable tourism projects by enterprises. This will be co-financed through the European Regional Development Fund which forms part of the EU’s Structural Funds 2007-2013 which Malta is benefiting from. The first call for projects will be issued...

E-sea International building industrial zone

Sun, 7 Dec 2008 00:00:00 GMT

E-sea International is building an Industrial Zone in Zhuzhou, Hunan province. The project fund comes from E-sea International and ETLT. Meanwhile, Bank of Zhuzhou has made a proposal to finance this project. Start date should be early next year and E-sea International’s medical equipment producing and Research & Development department will move as soon as possible...

European equity fund launched

Tue, 2 Dec 2008 00:00:00 GMT

Franklin Templeton Investments has announced the launch of FTIF Franklin Euroland Core Fund to invest in equity securities of European Union countries. The fund's managers aim to achieve long-term capital appreciation and endeavour to obtain these objectives with less volatility and downside...

Estonian development fund lost nearly EEK 200 mln

Fri, 28 Nov 2008 00:00:00 GMT

Estonian Development Fund lost nearly EEK 200 mln from the beginning of the year, since no one did anything with the assets, aripaev.ee mediates dv.ee...

One hedge fund out of four is doomed

Fri, 28 Nov 2008 00:00:00 GMT

Even hedge funds suffer in times of financial crisis and shaking stock markets, Swedish daily Dagens Industri writes...

Gaw Capital to raise $1.5 billion for Chinese real estate

Wed, 26 Nov 2008 00:00:00 GMT

Gaw Capital plans to raise a $1.5 billion fund to invest in Chinese real estate. It is planning to develop middle class and mass market residential property in secondary cities such as Chongqing, Dalian and Xuzhou. Goodwin Gaw, chairman and co-founder, is also interested in investing in the Sichuan province Chengdu, where the Chinese government is pumping rescue...

KIA withdraws $3.7bn funds

Tue, 25 Nov 2008 00:00:00 GMT

The Kuwait Investment Authority (KIA), which manages the Gulf state's assets, has withdrawn about 1 billion dinars ($3.66 billion) from abroad as it invests more at home. Daily Al Qabas said KIA was moving part of its funds back home as it is setting up a government portfolio to invest in the...

Global funds 'way forward'

Tue, 25 Nov 2008 00:00:00 GMT

Developer Omniyat Properties has plans to restructure its payment plans to boost buying and selling activities and says that all of its Dh21 billion of projects are either are under construction or awaiting launch...

Association of Banks welcomes cut in OPR

Tue, 25 Nov 2008 00:00:00 GMT

The Association of Banks in Malaysia said on Tuesday Bank Negara’s decision to cut its Overnight Policy Rate by 25 basis point to 3.25% from 3.50% was positive as it would lead to lower cost of funds for banks...

Asian property funds sitting on $10bn unspent capital

Sun, 23 Nov 2008 00:00:00 GMT

Hoarders guard cash as they wait for a sharper downturn in the region's real estate market...

Franklin launches Mena fund

Wed, 19 Nov 2008 00:00:00 GMT

Franklin Templeton Investments Corporation yesterday launched the Franklin Mena (Middle East and North Africa) Fund for Canadian investors. The fund will invest in companies across the Mena, as well as companies positioned to benefit from growth in these economies. Algebra Capital Limited...

Two Britain-based hedge funds debut on DIFX

Wed, 12 Nov 2008 00:00:00 GMT

Two UK-based hedge funds have become the first to list on the Dubai International Finance Exchange (DIFX). The duo's debut marks the latest move by the DIFX to attract more retail investors. The two funds, BH Global and BH Macro, are also listed on the London and Bermuda stock exchanges...

Fund star returns as SilverStreet partner

Mon, 10 Nov 2008 00:00:00 GMT

Alan Miller, one of the City's highest profile fund managers during his days at Jupiter and New Star, has returned to the investment world after a two-year absence...

Swedbank to liquidate two funds

Mon, 10 Nov 2008 00:00:00 GMT

AS Hansa Investment Funds will liquidate Hansa GAM Diversity Fund and Hansa GAM Multi-Arbitrage Fund, aripaev.ee reports...

KAMCO Announces Private Equity Fund Dividends

Wed, 5 Nov 2008 00:00:00 GMT

KIPCO Asset Management Company (KAMCO), the Fund Manager of Kuwait Private Equity Opportunities Fund, announced today that the Fund distributed cash dividends worth KD 817,575 to its unit holders in October 2008...

Nakheel says it's approached by sovereign funds

Tue, 21 Oct 2008 00:00:00 GMT

Top property developer Nakheel said it had been approached by Gulf sovereign wealth funds (SWF) keen to invest in the region amid the global financial crisis, its chief financial officer said. "What I do see is a lot of Gulf SWFs are beginning to come and see Nakheel and I'm surprised why...

'Incident' Costs Top Bank £470m

Fri, 17 Oct 2008 00:00:00 GMT

French bank Caisse d'Epargne has announced that it lost £470m in a "trading incident" last week...

Bulgarian Fund Plans Renewable Energy Investments

Tue, 23 Sep 2008 00:00:00 GMT

Clever Synergies Investment Fund has new plans for wind, mini-hydro and biomass energy projects...

'Sovereign Wealth Funds a Safety Net After Mines Run Out'

Fri, 12 Sep 2008 00:00:00 GMT

One of the ideas that received considerable response at the 10th National Business Conference (NBC) was that of the establishment of a Sovereign Wealth Fund (SWF) put forward by Tshipidi Moremong, Vice President of South Africa's Renaissance Africa...

Wealth funds seek reciprocal investors

Wed, 10 Sep 2008 00:00:00 GMT

Sovereign wealth funds (SWFs) in the Middle East are increasingly looking for reciprocal investments from companies they do business with, as they try to develop their local economies, lawyers who work with these funds said. The practice has picked up steam recently in Gulf Arab states, as local...

Chinese auditors to scrutinize use of post-quake reconstruction fund

Wed, 10 Sep 2008 00:00:00 GMT

China's National Audit Office (NAO) said on Wednesday it would shift work focus from quake-relief donations to auditing the use of reconstruction fund and supplies...

Business wants IMF back

Tue, 9 Sep 2008 00:00:00 GMT

Spokesmen for leading business organizations want the International Monetary Fund back to monitor the Dominican economy and government handing of its finances. "We cannot go at it alone," said Pedro Perez, spokesman for the National Organization of Shopping Malls (ONEC).

"It is sad to see the government hiring bonanza, with an incredible number of deputy ministers," said Perez. "I do not know how we are going to fund the government payroll. We are talking about 20 deputy ministers in Agriculture, 12 in Youth, an increase from 7 to 12 in Education. Many of these without a desk and probably without any tasks," he complained.

Ignacio Mendez of the Federation of Industrial Associations (FAI) urged the government to sign a new agreement due to the balance of payment deficit and government overspending problems that affect the country and what he deemed as a loss of confidence in the government by economic sectors. "We need a guardian to manage the public finances with efficiency," said the business sector spokesman. He said that after achieving a fiscal surplus of RD$4 billion in 2006 and RD$5 billion in 2007 (years in which the IMF Stand-by arrangement was in effect), the government submitted the 2008 budget with a RD$10 billion deficit, which has since climbed to RD$34 billion. In the first half of 2008, the government increased spending by 34.6%.

"Confidence was what led to the miraculous recovery in 2004. It is sad to see how the government's initiatives have led to a loss of credibility and how politicians do all they can to undermine confidence," he said, as reported in Hoy.

Lighthouse Golf Resort to open May 2009

Mon, 8 Sep 2008 00:00:00 GMT

Lighthouse Golf Resort, the 70 million euro complex being built near Balchik on Bulgarias northeastern Black Sea coast, will officially open in May 2009. Some 50 million euro of the funds earmarked for the project have already been invested, executive director Georgi Chouklev said at the ceremony inaugurating the golf course. Ian Woosnam, the Welsh golf pro who designed the course, is expected to attend the official...

SWFs eyeing distressed home sales in the West

Sun, 7 Sep 2008 00:00:00 GMT

Sovereign wealth funds (SWFs) are now increasingly buying into real estate assets sold by distressed sellers and on deals that are out of reach for debt-reliant buyers. SWFs may have bought a number of landmark buildings in the West in the past, but the latest sellers to these funds are...

Sovereign funds buy $25.5bn stakes

Fri, 5 Sep 2008 00:00:00 GMT

Sovereign funds have invested $25.5 billion (Dh93.66bn) so far this year to buy stakes in global companies such as Citigroup and Merrill Lynch, up 66 per cent from a year earlier, Thomson Reuters data showed yesterday. Sovereign funds such as Singapore's Temasek Holdings and the Abu Dhabi...

Swedish pension funds risk billions in American mortgage crisis

Thu, 4 Sep 2008 00:00:00 GMT

Swedish public pension funds have invested more than SEK 10 billion in American mortgage companies Fannie Mae and Freddie Mac...

Puravankara to raise $300 mn to fund projects

Wed, 3 Sep 2008 00:00:00 GMT

Bangalore-based realty developer Puravankara Projects is planning to raise nearly $300 million (Rs 1,320 crore) to fund its new projects and buy land in the current financial year. The company will be raising $150 million through bank debts to fund new projects and the remaining from private equity investors for buying land, said Ravi Ramu, director...

Slovenian mutual funds lost more than a fifth of value

Tue, 2 Sep 2008 00:00:00 GMT

In the first half of the year assets of mutual funds shrank a good EUR 656 million or 22 pct...

Record Realty posts $253m loss

Mon, 1 Sep 2008 00:00:00 GMT

Property fund Record Realty has posted a net loss of $253 million after a slide in the value of its property assets...