After the business of real estate lending has recently broken into, and now the trend is upward again. In an exclusive survey by the Handelsblatt newspaper, several banks have announced plans to expand its lending to real estate. This could facilitate the financing for investors and developers. The mood in the housing market clears up gradually. Source: dpaLupe The mood in the housing market clears up gradually. Source: Reuters FRANKFURT. The supply of credit in the housing market begins to relax. Several banks indicated at a Handelsblatt survey to try to finance the second half more commercial real estate. In addition, several houses were saying that the competition among the banks has been revived again. "Overall, the climate has brightened further," said the chief executive of the Association of German Pfandbrief Banks (VDP), Jens Tolckmitt, the Handelsblatt. There were signs of an easing in the second quarter. "According to our figures, it has in the commercial lending business in the second quarter once again been a revival," said Tolckmitt. His association represents virtually all major real estate financier in Germany. Between April and June, the lending VDP members had increased compared to the first quarter by 16.7 percent. It is true that the lending business, with 20 billion euros in the first six months was still effectively halved, but the trend back upwards. And there are signs that this will continue. Several banks have announced in the survey to try to increase its lending in the second half, including the Commerzbank subsidiary Eurohypo, the DG Hyp and the German mortgage bank. This sparked gradually also competition between the various institutions. "Especially in the last three months it has intensified significantly," said a spokesman for the German mortgage bank. The WestImmo says that again and more banks are active nationally and internationally. "One reason for the improved funding situation also seems to be," said a spokeswoman. In fact, it is again easier for banks to refinance loans on real estate capital markets. Since the European Central Bank announced in May a purchase program for mortgage bonds, risk premiums fell by 85 percent.
Tuesday, October 6, 2009
Exhibition around the theme of real estate
On Saturday and Sunday 10 and 11 October is when the car Weller Pagenstecherstraße in Osnabrueck, the "16 immobilien messe osnabrück "instead. Presented are the latest developments in the areas of buying, building, rent, energy conservation, modernization, and of course Embellish Finance. As a contrast offered by the organizers in the program fun and games for the whole family. Details are available from reputable banks, financial advisors, real estate and real estate agents, builders, as well as specialized trades. As in the past two years, are required on the grounds of "Osnabrück region" Cities and towns in the region present their best building sites (commercial and private) as well as extensive consultations on infrastructure and the respective merits of the site. But the city of Osnabrück will itself be the first time as an exhibitor. Visitors at the fair also have the chance to 25,000 euros in cash - for example, as seed money for the home. The Ikea furniture store raffled off in addition, per a merchandise voucher worth 1,000, 500 and 250 euros. Already a classic in the tradition of the fair is the private property market, "I seek, I offer" may be charged for the exclusively private individuals receive offers and requests. The event will be surrounded by the extensive family program that includes both actions at the car dealer as well as outdoors, of course the game for the kids to the cozy bistro for the Great Exhibition. Event Partner for the "16 osnabrück real estate fair "is the media company New OZ. Admission is free as usual.
EQS / Original-Research: GWB real estate AG (von GSC Research GmbH): Purchase
GWB Immobilien AG - von GSC Research GmbH shares grading GSC Research GmbH GWB Immobilien AG Company: GWB Immobilien AG ISIN: DE000A0JKHG0 occasion of the Study: Half year figures 2009 Recommendation: Buy seit: 02.10.2009 Target price: 3.50 euros price target a timeframe of 12 months Last rating change: 06.07.2009 to Buy from Hold Analyst: Klaus Kränzle (CEFA) Further stabilization of the shop at six levels, the half-year figures were moving in line with our expectations. Here, the rental income cash flow had a stabilizing effect on the GWB. Moreover, it seems that the sale of jam dissolve slowly as the sale contract authenticated evidence for an object. Against this background, we reaffirm our conservative estimates, and here make any changes. Due to transfers of property between the balance sheet reserves and financial assets are in our view, the outcome indicators for an assessment of GWB share important than sales or total output. Given the unpredictable economic environment of GWB Immobilien AG, the highly cyclical business and of its far-reaching implications of any transfers in the balance, our projections are of course subject to great uncertainty. This uncertainty, however, we have incorporated in the form very carefully chosen parameters in our estimates unchanged. Still, real estate stocks on the stock exchange are valued very reserved. GWB offers immobilienaffinen investor, however, in our view an interesting combination of consumer and real estate story. We therefore recommend that the speculative investors, the stock portfolio addition to unchanged from a capital market for technical reasons slightly higher target price of 3.50 euros. The purchase recommendation, we keep them in this context.
LBI Real Estate sales
74 homes changed hands jg Bad Laasphe. Around eight months of the Siegen newspaper reported the fact that the bathroom LAASPHE Bauplanungs and Investment Ltd "LBI" their bankruptcy application was made. Yesterday, the insolvency administrator Carsten Koch informed upon request of the SZ, that he designed for residential properties in the 74-LBI had found a buyer. Since June is for the management of another company. These were "professionals", have been complaining of the tenants still not with him. A bigger problem are now the remaining LBI-building land, the man of the law firm Weilburger Dithmar, Westhelle, Assenmacher, Zwingmann and partners. But even for this there had been discussions in the past week with the Sparkasse Wittgenstein.
Real Estate Exhibition: Region attracts companies
Kreis Viersen. Happy faces, there has been on the Lower stand, which also is represented in the district of Viersen, at the Expo Real in Munich. For the eighth time in the district of Viersen, presented at the largest trade fair for commercial real estate to a professional audience from all over the world. District Administrator Peter Ottmann put together before with Rolf Adolphs, managing director of marketing promotion company for the district of Viersen (WFG), the advantages of the region. "The district of Viersen is for the future with a healthy mix of modern service industries, international industrial and trading activities to high-tech products, find themselves in space use, well prepared." In talks at the Expo Real Ottmann demanded the closure of the gap A 74 on the Dutch and the A61 to Venlo on the German side. The new industrial park in Nettetal Villas could not be marketed without the motorway connections. There should be no further delays. Specific projects in the district and the cities of Viersen Willich, Mayor Günter Thönnessen Nettetal and Viersen (Viersen) and Thomas Küppers presented, Head of the Economic Development Corporation of the City of Viersen, Mayor Joseph Heyes (Willich) and Dietmar Sagel, economic development corporation of the city Nettetal. Thönnessen pointed to the benefits of the commercial Mackenstein-North, whose commercial space can be variably tailored. Willich for the city of Joseph Heyes Münchheide IV and put steel against Becker. Münchheide could not develop because of the last neighborhood to Duesseldorf airport to a remote location for large and medium enterprises. The former steel plant in Willich Becker is now a business park with high architectural standards
The duel of the coal-Kaiser
If today at 18.30 clock with the HSV and Ciudad Real, two of the world's best handball teams in rattling the Color Line Arena each other, two men will be especially tight: Hamburg President Andreas Rudolph and his Spanish opposite Domingo de Mera. More about The royal battle: HSV against the best in the world The royal battle Against HSV Best in the world The two have very different careers. Hardly know each other. Have only one conversation with the help of an interpreter (de Mera talks) is not English. One has the mega-wealthy bosses, but in common: the passion for handball. Both pumped many millions into their private teams. The duel of the coal-Emperor. Rudolph made his fortune in the medical field. In 1992, he developed a business idea in the home health management. de Mera's construction business, has changed with real estate transactions for high earners. Constructed in Ciudad Real (170 km south of Madrid) even an airport. The real estate crisis in Spain, but walked past de Mera no trace. He is said to have lost around 200 million euros. Its stars have to live this season with wage losses. And yet Ciudad (is won in the last 3 years, twice the Champions League) Next THE top team in Europe ... ... trying to force the Rudolph with the HSV to their knees. "We have nothing to hide," he says. "All the recent duels were at eye level. This is an incredibly difficult game. A site-determination. "
Property: London becomes available
London suffers more from the housing crisis as Paris. Following the realignment of the pound sterling to the euro and falling house prices, property Londoners have again become attractive to French customers. Apartment London typiqueOutre handle the crisis in housing is severe. In London, the residential market has reached its highest during the summer of 2007. Then from September 2007 to September 2009, prices have dropped between 25% and 35%, depending on the neighborhood. This slip values has even begun in July 2007, more than a year before Paris. The fall in the number of transactions was staggering: 80% decline between September 2007 and September 2008 and 50% decline between September 2008 and September 2009. "Still unaffordable there is little time for French customers, the London market has again become very attractive due to a combination of declining property prices and the fall of the pound sterling against the euro, defends Thibault Saint Vincent, president of Barnes. The euro has strengthened the financial firepower of the Europeans in England.
In the most popular neighborhoods, the cap of 10,000 euros per square meter is widely taken to afford a comfortable apartment. Expect to pay about 12,000 euros per square meter in Chelsea and 15,000 euros per square meter in Knightsbridge. While in France, the purchaser is both owner of a property and its land, the system differs in London. And because the land belongs to the most royal family. Result: the purchaser only owns the walls. On the ground, most properties are "lease hold", that is to say, sold under a long lease with durations generally between 50 and 99 years.
Making a rental investment
Les Américains considèrent la Grande Bretagne comme une porte d'entrée en Europe pour des raisons linguistiques évidentes. For their part, Europeans tend to regard London as the New York of Europe "because of its melting pot of cultures. "Buy an apartment in London to investment is a sure", say local estate agents. Despite the financial crisis, the French customer is present along the Thames, both residents of London or French investors. Anxious to diversify their assets geographically and seize market opportunities, they have crossed the "Chanel" since about a year. They are even more tempted to do when they have adult children who study or work in London. A purchase there allows them to accommodate their descendants, even to give the property to rent later. By buying at the bottom of the London market with a weak euro, they limit the risk to this investment long term. "As rents have declined less than the selling price, the profitability of property investment quality has improved, in London for two years, says Thibault de Saint Vincent. Investors can acquire a quality property in central London 30% less than two years ago and the rent 20% below prices two years ago. The result before tax on rental property exudes a return of 5% and 6, two to three points more than in Paris.
In the most popular neighborhoods, the cap of 10,000 euros per square meter is widely taken to afford a comfortable apartment. Expect to pay about 12,000 euros per square meter in Chelsea and 15,000 euros per square meter in Knightsbridge. While in France, the purchaser is both owner of a property and its land, the system differs in London. And because the land belongs to the most royal family. Result: the purchaser only owns the walls. On the ground, most properties are "lease hold", that is to say, sold under a long lease with durations generally between 50 and 99 years.
Making a rental investment
Les Américains considèrent la Grande Bretagne comme une porte d'entrée en Europe pour des raisons linguistiques évidentes. For their part, Europeans tend to regard London as the New York of Europe "because of its melting pot of cultures. "Buy an apartment in London to investment is a sure", say local estate agents. Despite the financial crisis, the French customer is present along the Thames, both residents of London or French investors. Anxious to diversify their assets geographically and seize market opportunities, they have crossed the "Chanel" since about a year. They are even more tempted to do when they have adult children who study or work in London. A purchase there allows them to accommodate their descendants, even to give the property to rent later. By buying at the bottom of the London market with a weak euro, they limit the risk to this investment long term. "As rents have declined less than the selling price, the profitability of property investment quality has improved, in London for two years, says Thibault de Saint Vincent. Investors can acquire a quality property in central London 30% less than two years ago and the rent 20% below prices two years ago. The result before tax on rental property exudes a return of 5% and 6, two to three points more than in Paris.
Life estate - What are the precautions?
This form of real estate sales report puts a person more often than old (the annuitant) who wants to sell his property while retaining the usufruct until the end of his life and another person, the buyer (débirentier) who agrees to pay an annuity. The main advantage for the seller is to receive income while occupying his house. And for the buyer's interest is to acquire a much less expensive (since it is held), provided that the annuitant does not live 122 years like Jeanne Calment. For this is the main characteristic of real life: the buyer has full ownership of the property from the deed signed by the notary and the rent they pay stops upon the death of the seller (on a life annuity) or spouse (rent two heads). The price paid will therefore largely depend on the life of the seller. A bet can win or lose .... There are two kinds of Life: the free and the occupied. We will not speak first, because it is fairly rare, but only the latter.
Real estate: the fall in activity slows
The activity of real estate professionals has been a "further deterioration" in relation to their situation one year earlier, according to a study by the National Union for real estate professionals (SNPI) on Monday. Their sales drop 12% during these three months a year. However, this decline is however much more limited than for the previous three months (-24%). In annual trend, the decline remains strong (-28%). This decline is largely due to the decrease in the number of transactions (-10%) during the months in question, "what constitutes a significant improvement compared to the 40% drop recorded six months earlier," welcomes the SNPI. Renting (2%) and administration of property (4%) recorded by cons growth of their turnover.
Sunday, October 4, 2009
The Exchange welcomes the real estate transaction Accor
Accor announced on Tuesday a major real estate transaction with the sale of the walls of 158 hotels in its portfolio F1 representing 12,300 rooms, for a total of 272 million euros. According to his statement, Accor "continue to manage the 158 hotels under the brand hotelF1 and keep the control on price and product innovation, essential to ensure the lasting success of this brand. Former Formule 1 hotels offer room prices very low, around 33 euros. This assignment walls "was accompanied by the concurrent signing of a commercial lease for a term of 12 years, renewable six times at the initiative of Accor, a variable rent without guaranteed minimum equal to 20% of turnover ' cases on average. On the basis of 2008 revenue, the variable rent would have been 21.3 million euros, "the statement said. The transaction will enable the group, which is currently considering a demerger of its two core businesses of hotels and services, reduce its adjusted net debt of almost 187 million euros in 2009 with 130 million euros cash. It should also have a positive impact on profit before tax of around 5 million euros. At the Paris Bourse, the stock has gained 3.26% to 39.18 euros on Tuesday.
Strasbourg: the lounge area of real estate
All industry professionals are meeting up Sunday to Wacken The lounge area of the estate began Friday and ends Sunday. It is for anyone with a real estate project and gathers at the Parc des expositions du Wacken all professionals in the sector: builders, estate agents, developers, banks, advisers, notaries.
The trends in the mortgage area as Cafpi
On the occasion of the last real estate exhibition in Paris Porte de Champerret credit broker Cafpi surveyed its regional offices to determine the trends of mortgage market locally. 5 ideas have been screened: "production credits tumble," "Real estate is a coherent market," Banks stopped lending, "There are more customers borrowers" and " Confidence will not return before long. " In the North, poor economic conditions force individuals to delay their building projects when they can. "They prefer to work, renovating the house or adding a room rather than change," said Carine Derieux, head of the North. Culturally, this region stands out on several items. The appropriations are always more expensive on average by 0.2 points. In addition, "it is a trait of personality in the North than being rooted in a tendency to tough bargaining, totally disconnected from any commercial logic," said Carine Derieux. Northerners also envisage that very rarely during the construction of an initial acquisition and "most of them did come in second or third time, when children are born." The first-time buyers represent one third of the clients of the broker: "Decisions are often taking family, parents tend to discourage young borrowers to engage in the adventure."
The western region is it, "carried by the primary assumption, in the words of Dominique Durand-Perdriel, Leiter. "In the quadrangle Nantes / Saint-Nazaire / Vannes / Rennes, first-time buyers account for 95% of clients wishing to acquire or build a house," said the official. Moreover, the important part files in 2009 under the Scellier device is significant, amounting to 10% of mortgage applications processed. Price later, "the western region has not experienced a decline in property prices as significant elsewhere. We are just beginning to feel it. " To find "a high level of production would require a further fall in property prices of around 10%, with an economic recovery that jams up the spiral of layoffs."
In Normandy, "first-time buyers accounted for 50% of customers with a loan CAFPI main income of around 121 000 euros," explains the head of the region Sylvain Lefevre. For volumes, "the rate cut has generated a momentum regarding the sale of flats located in old city center. He added that the housing crisis has brought back to the basics of real estate, "a principal residence built here 20 or 30 years with materials of low energy performance and located 20 km from an urban center can no longer have the same value that a property located in urban areas with good energy performance level. As for banks, broker notes that they "have returned to the agenda the prudential rules for credit risk. But they have not changed the fundamentals that are bank debt ratio, continuity of employment and the buyers' left to live, what keeps a household to meet current expenses after payment of all outstanding loans. However, the rate cut helped "improve the level of debt, and help households achieve their real estate projects.
In the South East region is mostly the old houses in that document. 90% of mortgage applications relate to the main residence and "66% of borrowers are first time buyers," says Gilles Rolet in charge of the region. Some areas suffer as Lorraine is relatively affected by the crisis. Conversely, Nancy, protected by its large population of staff, is less affected than elsewhere. However, Cafpi having recently moved into this region, lack of historical data as collected. The broker noted however that "aid to the attainment have risen sharply. Market prices, a decline - 20%, and lower rates represent a significant gain power purchase real estate. 120 to 150 euros of purchasing power on a monthly payment can regain access customers who had lost the ability to borrow. " In eastern North area including Alsace and Moselle, three cities recorded a significant activity: Strasbourg, Metz and Thionville. "The average loan is Cafpi 141 000", explains Christian Coin. In detail, the average loan amount to 132 000 in Metz, 143 000 in Strasbourg and 154 000 in Thionville. On the variation of the contract, the manager observes that despite a declining market, "a new clientele in search not only the lowest but also advice and security" consults. 57% of them have an annual income of less than 38 K €. In the income bracket above 50 K €, "surprisingly, the percentage of borrowers is higher in Thionville than anywhere else." Distrust of banks is strong: "90% of borrowers are willing to switch banks as a corollary of homeownership."
Many first-time buyers to the Central East region consisting of 60% among its clientele, with an average loan of around 150 000. This young population under 35 years, buys mostly in the former. "Lyon provides the bulk of our production, far ahead of Grenoble and Saint-Etienne," explains Jean Gignoux, head of the region. He admits, moreover, that the banks, although they remain very lenders on individual clients, "are now more demanding on the profitability of a credit transaction. Lyon remains stable thanks to a base of medium and very upscale. "The more we move away from the Lyon area, the market becomes more tense. Cities such as Villefranche, Vienna and Bourgoin experiencing strong price decline and their real estate activity. Saint Etienne is an unusual and difficult market, with low prices and customer revenue less important than in other departments in the region. Grenoble remains strong, with high prices and good incomes. In the region PACA West, there is "neither more nor less than before refusal" of funds by banks said Thierry Bailly, head region. "We are not brokers rate as others, we are dealers by name and do the financing package, which allows us to differentiate" into explaining the unchanged number of denied credit. Thierry Bailly also noted that "the average intakes are increasing, which indicates a crisis. In Avignon, for example, 75% of transactions involve primary residences, mostly single-family homes, with an average loan of 152 000 and an average debt of 23 years.
To the east of the region PACA, the "production volumes are down compared to those of 2008, however incommensurate with the fall in volumes of national funding," said Eric Brame, head of the sector. He added: "Provence Alpes Côte d'Azur, demand remains relatively strong despite prices that have fallen." On the issue of obtaining the mortgage, the region has found that they no longer depend on "only the purchase price of capital, and debt ratio, banks also arbitrate according to the residual and left to live, the debt ratio is so much better managed and controlled mainly. A household with an income equal to two minimum wage can not exceed 25% debt, while a childless couple with 4 000 of monthly income can go into debt up to 3 5%, with a remainder to live comfortably. The building project type? An old house with work for an average price of 300 000.
"We become the broker of our family of customers! "Says Laurent Desma, Cafpi responsible for the South West Region. A "showdown" is underway in the region between sellers and buyers, some want to force prices down and others expect a recovery and maintain their offerings. Another notable phenomenon, the population of inner-city areas for the benefit of potential land. "Buyers do not hesitate to move away from inner cities to settle in areas where land is still a large potential. Near Bordeaux and the Basque coast, there is still land available if we agree to s'excentrer. This is the case around Saint Jean de Luz, where many formerly agricultural villages became suburbs nearby. The triangle BAB, Biarritz Anglet Bayonne, is a micro urban market that still retains its strong development potential. The south of the Landes, Hossegor, Capbreton, Tyrosse, is looking for his second home and vacation rental investment. Furthermore, agencies Cafpi did not notice any change in the attitude of banks that continue to give credit as before. "However, we see an evolution on the bridge loans, with the granting of additional time or the introduction of a drop in weight, grade Laurent Desm.
The western region is it, "carried by the primary assumption, in the words of Dominique Durand-Perdriel, Leiter. "In the quadrangle Nantes / Saint-Nazaire / Vannes / Rennes, first-time buyers account for 95% of clients wishing to acquire or build a house," said the official. Moreover, the important part files in 2009 under the Scellier device is significant, amounting to 10% of mortgage applications processed. Price later, "the western region has not experienced a decline in property prices as significant elsewhere. We are just beginning to feel it. " To find "a high level of production would require a further fall in property prices of around 10%, with an economic recovery that jams up the spiral of layoffs."
In Normandy, "first-time buyers accounted for 50% of customers with a loan CAFPI main income of around 121 000 euros," explains the head of the region Sylvain Lefevre. For volumes, "the rate cut has generated a momentum regarding the sale of flats located in old city center. He added that the housing crisis has brought back to the basics of real estate, "a principal residence built here 20 or 30 years with materials of low energy performance and located 20 km from an urban center can no longer have the same value that a property located in urban areas with good energy performance level. As for banks, broker notes that they "have returned to the agenda the prudential rules for credit risk. But they have not changed the fundamentals that are bank debt ratio, continuity of employment and the buyers' left to live, what keeps a household to meet current expenses after payment of all outstanding loans. However, the rate cut helped "improve the level of debt, and help households achieve their real estate projects.
In the South East region is mostly the old houses in that document. 90% of mortgage applications relate to the main residence and "66% of borrowers are first time buyers," says Gilles Rolet in charge of the region. Some areas suffer as Lorraine is relatively affected by the crisis. Conversely, Nancy, protected by its large population of staff, is less affected than elsewhere. However, Cafpi having recently moved into this region, lack of historical data as collected. The broker noted however that "aid to the attainment have risen sharply. Market prices, a decline - 20%, and lower rates represent a significant gain power purchase real estate. 120 to 150 euros of purchasing power on a monthly payment can regain access customers who had lost the ability to borrow. " In eastern North area including Alsace and Moselle, three cities recorded a significant activity: Strasbourg, Metz and Thionville. "The average loan is Cafpi 141 000", explains Christian Coin. In detail, the average loan amount to 132 000 in Metz, 143 000 in Strasbourg and 154 000 in Thionville. On the variation of the contract, the manager observes that despite a declining market, "a new clientele in search not only the lowest but also advice and security" consults. 57% of them have an annual income of less than 38 K €. In the income bracket above 50 K €, "surprisingly, the percentage of borrowers is higher in Thionville than anywhere else." Distrust of banks is strong: "90% of borrowers are willing to switch banks as a corollary of homeownership."
Many first-time buyers to the Central East region consisting of 60% among its clientele, with an average loan of around 150 000. This young population under 35 years, buys mostly in the former. "Lyon provides the bulk of our production, far ahead of Grenoble and Saint-Etienne," explains Jean Gignoux, head of the region. He admits, moreover, that the banks, although they remain very lenders on individual clients, "are now more demanding on the profitability of a credit transaction. Lyon remains stable thanks to a base of medium and very upscale. "The more we move away from the Lyon area, the market becomes more tense. Cities such as Villefranche, Vienna and Bourgoin experiencing strong price decline and their real estate activity. Saint Etienne is an unusual and difficult market, with low prices and customer revenue less important than in other departments in the region. Grenoble remains strong, with high prices and good incomes. In the region PACA West, there is "neither more nor less than before refusal" of funds by banks said Thierry Bailly, head region. "We are not brokers rate as others, we are dealers by name and do the financing package, which allows us to differentiate" into explaining the unchanged number of denied credit. Thierry Bailly also noted that "the average intakes are increasing, which indicates a crisis. In Avignon, for example, 75% of transactions involve primary residences, mostly single-family homes, with an average loan of 152 000 and an average debt of 23 years.
To the east of the region PACA, the "production volumes are down compared to those of 2008, however incommensurate with the fall in volumes of national funding," said Eric Brame, head of the sector. He added: "Provence Alpes Côte d'Azur, demand remains relatively strong despite prices that have fallen." On the issue of obtaining the mortgage, the region has found that they no longer depend on "only the purchase price of capital, and debt ratio, banks also arbitrate according to the residual and left to live, the debt ratio is so much better managed and controlled mainly. A household with an income equal to two minimum wage can not exceed 25% debt, while a childless couple with 4 000 of monthly income can go into debt up to 3 5%, with a remainder to live comfortably. The building project type? An old house with work for an average price of 300 000.
"We become the broker of our family of customers! "Says Laurent Desma, Cafpi responsible for the South West Region. A "showdown" is underway in the region between sellers and buyers, some want to force prices down and others expect a recovery and maintain their offerings. Another notable phenomenon, the population of inner-city areas for the benefit of potential land. "Buyers do not hesitate to move away from inner cities to settle in areas where land is still a large potential. Near Bordeaux and the Basque coast, there is still land available if we agree to s'excentrer. This is the case around Saint Jean de Luz, where many formerly agricultural villages became suburbs nearby. The triangle BAB, Biarritz Anglet Bayonne, is a micro urban market that still retains its strong development potential. The south of the Landes, Hossegor, Capbreton, Tyrosse, is looking for his second home and vacation rental investment. Furthermore, agencies Cafpi did not notice any change in the attitude of banks that continue to give credit as before. "However, we see an evolution on the bridge loans, with the granting of additional time or the introduction of a drop in weight, grade Laurent Desm.
New developments of strategic real estate 3 375 000 $ and closed a private placement in the form of convertible debentures of $ 1 400 000
Management company and real estate developments, announced today Closing a funding of 1 400 000 $ in the form of convertible debentures, reaching 65% of rentals in the building complex Lebourgneuf development and its intention to complete, subject to the following conditions complained: i) l acquisition of a commercial building at a cost of $ 2 537 500 and ii) the acquisition of land ownership commercial worth $ 837 000.
Debentures
The management of the Company is pleased to announce the completion of financing in the form of debentures announced last September 23. The convertible debentures with a term of 24 months offer an interest rate of 9% per annum to the holder, payable quarterly. The capital of such convertible debentures were offered at a price of $ 0.50 per share if converted in the 1st year of issue, or at a price of $ 0.55 per share if converted in the second year. Of the $ 1 400 000 $ $ 250 $ 000 remains to be cashed by the Company following the confirmation of it from a subscriber information related to its building in developing complex Lebourgneuf.
Purpose of rental achieved
Complex Lebourgneuf, developing the building is already leased over 65% as of September 30, 2009. This building of 235 000 square feet has welcomed its first tenants at the end of June 2009 and income from leases signed now sufficient to cover the debt service related to that property. "Demand in the City of Quebec for quality commercial premises and is supported Cagim demonstrates clearly be a leader in the Capital Region of the province," said Mr. Guy Boutin, CEO and Project Manager.
Commercial building
Management announced it has agreed on key conditions in order to acquire a commercial building located in the City of Saint-Augustin-de-Desmaures, Quebec, for a total of 2 537 500 $. This building houses a single tenant to AAA for a term covering the next 15 years. The purchase price represents a capitalization rate of 10%.
The proposed acquisition price will be payable in cash, the capital outlay of $ 100 000 and obtain mortgage financing of approximately 1 700 000 $, the balance will be payable in shares of the Company by the Issue of 1 400 000 shares at a price of $ 0.50 each, for a consideration of $ 700 000. This acquisition transaction involving a related party of the Company is subject to certain conditions including due diligence and successfully complete, obtaining an independent report conclusive evaluation, approval of the TSX and TSX any other regulatory authority requirements and finally, the finalization of a definitive purchase agreement. The management of the Company intends to complete this transaction during the 4th quarter.
Commercial Plot
The management of the Company also announced today to be in advanced talks to acquire a commercial land located in the Lebourgneuf Quebec City. The amount of the acquisition, subject to tax adjustments, is set at $ 837 000 and will be payable in cash. This transaction is part of strategic expansion plan of the Company and is subject to certain conditions including due diligence complete. This land is adjacent to the Complexe Lebourgneuf that the company has condominiums, and whose construction is almost complete. The President of the Company, Mr. Stéphane Beshro this transaction qualifies as "Complex Lebourgneuf is a tour de force and will become a success, including its high occupancy rate at this stage of the project. The acquisition of commercial land under by the tender offer is part of a second commercial project, relatively speaking, will be similar to the complex project. " The management of the Company feels confident that the expertise of the management team of the Company will contribute once more to the implementation of this future project. Cagim is listed on the TSX Venture Exchange and operates business management, development and acquisition. The Company operates its business through its subsidiaries ADG Immobilier inc. Complex and Lebourgneuf inc.
The TSX Venture Exchange and its service provider rules (within the meaning assigned to that term in the policies of the TSX Venture Exchange) assumes no responsibility for the adequacy or accuracy of this release.
Debentures
The management of the Company is pleased to announce the completion of financing in the form of debentures announced last September 23. The convertible debentures with a term of 24 months offer an interest rate of 9% per annum to the holder, payable quarterly. The capital of such convertible debentures were offered at a price of $ 0.50 per share if converted in the 1st year of issue, or at a price of $ 0.55 per share if converted in the second year. Of the $ 1 400 000 $ $ 250 $ 000 remains to be cashed by the Company following the confirmation of it from a subscriber information related to its building in developing complex Lebourgneuf.
Purpose of rental achieved
Complex Lebourgneuf, developing the building is already leased over 65% as of September 30, 2009. This building of 235 000 square feet has welcomed its first tenants at the end of June 2009 and income from leases signed now sufficient to cover the debt service related to that property. "Demand in the City of Quebec for quality commercial premises and is supported Cagim demonstrates clearly be a leader in the Capital Region of the province," said Mr. Guy Boutin, CEO and Project Manager.
Commercial building
Management announced it has agreed on key conditions in order to acquire a commercial building located in the City of Saint-Augustin-de-Desmaures, Quebec, for a total of 2 537 500 $. This building houses a single tenant to AAA for a term covering the next 15 years. The purchase price represents a capitalization rate of 10%.
The proposed acquisition price will be payable in cash, the capital outlay of $ 100 000 and obtain mortgage financing of approximately 1 700 000 $, the balance will be payable in shares of the Company by the Issue of 1 400 000 shares at a price of $ 0.50 each, for a consideration of $ 700 000. This acquisition transaction involving a related party of the Company is subject to certain conditions including due diligence and successfully complete, obtaining an independent report conclusive evaluation, approval of the TSX and TSX any other regulatory authority requirements and finally, the finalization of a definitive purchase agreement. The management of the Company intends to complete this transaction during the 4th quarter.
Commercial Plot
The management of the Company also announced today to be in advanced talks to acquire a commercial land located in the Lebourgneuf Quebec City. The amount of the acquisition, subject to tax adjustments, is set at $ 837 000 and will be payable in cash. This transaction is part of strategic expansion plan of the Company and is subject to certain conditions including due diligence complete. This land is adjacent to the Complexe Lebourgneuf that the company has condominiums, and whose construction is almost complete. The President of the Company, Mr. Stéphane Beshro this transaction qualifies as "Complex Lebourgneuf is a tour de force and will become a success, including its high occupancy rate at this stage of the project. The acquisition of commercial land under by the tender offer is part of a second commercial project, relatively speaking, will be similar to the complex project. " The management of the Company feels confident that the expertise of the management team of the Company will contribute once more to the implementation of this future project. Cagim is listed on the TSX Venture Exchange and operates business management, development and acquisition. The Company operates its business through its subsidiaries ADG Immobilier inc. Complex and Lebourgneuf inc.
The TSX Venture Exchange and its service provider rules (within the meaning assigned to that term in the policies of the TSX Venture Exchange) assumes no responsibility for the adequacy or accuracy of this release.
Real Estate: declining prices of the former continues
According to the monthly barometer of the JDD, the square meter continues to decline in September in most big cities at a rate of 4% per year. The price recovery is not yet valid.
House prices fell back in May VETERANS IN FRANCE "The rise in house prices remains a chimera. According to the monthly barometer made by the JDD (Journal du Dimanche), and seloger.com laVieImmo.com, price per square foot in the former continued to decline in September to an annualized rate of 4% per year. This price is well below 3,000 euros per square meter in cities like Lyon, Lille and Toulouse. Marseille should also join the list this month. In Paris, the square meter is about 7300 euros but the decline was of similar magnitude.
According to the analysis of daily sales would suffer a sense of expectancy. Buyers expect a further decline while the sellers refuse to lower their bids. Side location, the trend is the same, especially in smaller cities and suburbs. According to the barometer, rents fell by 2% in cities such as Cherbourg or Rochelle. In Marseilles and Toulouse, these declines are also gradually. For now, other cities are not affected.
House prices fell back in May VETERANS IN FRANCE "The rise in house prices remains a chimera. According to the monthly barometer made by the JDD (Journal du Dimanche), and seloger.com laVieImmo.com, price per square foot in the former continued to decline in September to an annualized rate of 4% per year. This price is well below 3,000 euros per square meter in cities like Lyon, Lille and Toulouse. Marseille should also join the list this month. In Paris, the square meter is about 7300 euros but the decline was of similar magnitude.
According to the analysis of daily sales would suffer a sense of expectancy. Buyers expect a further decline while the sellers refuse to lower their bids. Side location, the trend is the same, especially in smaller cities and suburbs. According to the barometer, rents fell by 2% in cities such as Cherbourg or Rochelle. In Marseilles and Toulouse, these declines are also gradually. For now, other cities are not affected.
The real estate empire of Rupert Grint
Rupert Grint, actor Ron Weasley, was just 21 years. And it is perhaps not the main star of Harry Potter - he leaves that role to Daniel Radcliffe (we presented a splendid apartment a few weeks ago, in this text) - but it is truly the king undisputed real estate! For if Daniel Radcliffe has domains worth 11 million dollars and Emma Watson, properties valued at more than six million dollars, the housing of Rupert Grint reached 14.6 million!
On September 9, Rupert Grint has bought this very British mansion in Hertfordshire to the tune of 8.60 million. The interior is, it seems a marvel. Situated on a plot of 8.9 hectares, the palace of the eighteenth century has five reception rooms, six bedrooms (beware, this is real suites) and two pools, one indoor and one outdoor. In addition, you'll notice a small cottage near the main house, which used to house the employees of this area and welcome guests of the actor.
Why is this investment? Is that for several years, Rupert Grint lived with his parents, his brother and three sisters in another luxurious property of Hertfordshire. The mansion was purchased by actor - and his own name - in October 2006 for 5.33 million dollars. Parents of Rupert Grint were also acquired, following the success of the first Harry Potter, a dwelling in the region, they are still owned and in which, after having built an outdoor pool and a tennis court, they are doing some work. Too bad we can not see inside!
[House star] The real estate empire of Rupert Grint
On September 9, Rupert Grint has bought this very British mansion in Hertfordshire to the tune of 8.60 million. The interior is, it seems a marvel. Situated on a plot of 8.9 hectares, the palace of the eighteenth century has five reception rooms, six bedrooms (beware, this is real suites) and two pools, one indoor and one outdoor. In addition, you'll notice a small cottage near the main house, which used to house the employees of this area and welcome guests of the actor.
Why is this investment? Is that for several years, Rupert Grint lived with his parents, his brother and three sisters in another luxurious property of Hertfordshire. The mansion was purchased by actor - and his own name - in October 2006 for 5.33 million dollars. Parents of Rupert Grint were also acquired, following the success of the first Harry Potter, a dwelling in the region, they are still owned and in which, after having built an outdoor pool and a tennis court, they are doing some work. Too bad we can not see inside!
[House star] The real estate empire of Rupert Grint
Friday, October 2, 2009
Real Estate Funds - Pirelli RE sells 5% of SGR
The company led by Julius Malfatto broke at Intesa Sanpaolo 5% of the management company. Operation that is worth 10 million euros. Transactions for the company Pirelli RE operates in the real estate market has assigned to Intesa Sanpaolo 5% of the management company active in the market for real estate funds. Under the agreement, the bank led by Corrado Passera will go up to 10% by 2009, after obtaining permits. Pirelli said that the deal worth 10 million is aimed at the growth of assets managed by SGR and development of fund management activities in line with the strategy announced in the industrial plan 2009-2011. Pirelli RE SGR also intends to strengthen its market presence with the launch of new real estate fund dedicated to institutional investors, but also to seize opportunities that might arise from the outside with new partnerships with other operators in order to create efficiencies resulting from assets under management and the strengthening of distribution channels and by the rationalization of operating costs.
The information contained in bluerating.com are based on sources believed to be reliable, but we can not guarantee the complete accuracy or reliability. The opinions expressed in the contributions of journalism may be changed without notice and are meant for informational purposes only and does not constitute solicitation for public investment. Anyone who makes a different use than that for which it was thought that he takes full responsibility.
The information contained in bluerating.com are based on sources believed to be reliable, but we can not guarantee the complete accuracy or reliability. The opinions expressed in the contributions of journalism may be changed without notice and are meant for informational purposes only and does not constitute solicitation for public investment. Anyone who makes a different use than that for which it was thought that he takes full responsibility.
Real Estate Funds, the industry feels the crisis but continues to grow
During the first six months of the year the Italian real estate fund industry has proved its ability to consolidation. The data from Assogestioni Ipd and still show an increase in assets under management, a growth of assets supported by a larger number of products and flows collecting benefits for 548 million euros.
The assets grew by 1.4% and during the reporting period increased from 20.2 billion, reported last semester, less than 20.5 billion euros. In one year, growth was 1.9%.
The number of funds surveyed reaches a height of 143 units. From January to June have added nine new products to qualified investors. Five of these are hedge funds, six are made through the contribution and three in the ordinary way. According to the survey presented today of the 143 operating funds, 119 are reserved for institutional investors and have a wealth of 14.6 billion euros. The retail funds are 24 and have assets of over 5.8 billion euros. The activities, grew by 6.4% year on year and 2.1% in six months, totaled 35.4 billion euros. At the end of the semester, 81% of the funds has made use of the lever. Compared to last half the rate of use of financing operations has remained unchanged for the reserved funds that are in debt for 77% of their ability. For retail funds, the debt levels and a slight growth of 60% of the intake (at the end of 2008 was 58%). Regarding the composition of assets, the primary investment for both types of funds is still in real estate. Funds for investing there for 88, 2% compared with 84, 9% of retail funds.
Regarding the Asset Allocation by purpose of use is noted that investment in the property sector occur mainly in the office sector: 58.8% for retail funds and 49.6% for those reserved. The second destination of choice to use both categories, the commercial: 22.7% of the total investments of retail funds and 16.2% for those reserved. Third place for investment by retail funds the logistics industry loses appeal and gives way to the tourist / recreational, with commitments for 5.6%. Funds reserved for the third place is the intended use more named (represented mainly by barracks, telephone exchanges and land) which invest 11.5% of jobs.
From the geographical point of view of Asset Allocation, North West and the Center are the areas where there are major investments in real estate. The values for the reserved funds are totaled 45.6% and 45.1% for retail products. Exposures in the South and the Islands continue to decrease gradually for reserved funds, which will invest 9.4% of resources. Foreign investments continue to shrink in the course of the semester in question down to 2% share of jobs overall.
The assets grew by 1.4% and during the reporting period increased from 20.2 billion, reported last semester, less than 20.5 billion euros. In one year, growth was 1.9%.
The number of funds surveyed reaches a height of 143 units. From January to June have added nine new products to qualified investors. Five of these are hedge funds, six are made through the contribution and three in the ordinary way. According to the survey presented today of the 143 operating funds, 119 are reserved for institutional investors and have a wealth of 14.6 billion euros. The retail funds are 24 and have assets of over 5.8 billion euros. The activities, grew by 6.4% year on year and 2.1% in six months, totaled 35.4 billion euros. At the end of the semester, 81% of the funds has made use of the lever. Compared to last half the rate of use of financing operations has remained unchanged for the reserved funds that are in debt for 77% of their ability. For retail funds, the debt levels and a slight growth of 60% of the intake (at the end of 2008 was 58%). Regarding the composition of assets, the primary investment for both types of funds is still in real estate. Funds for investing there for 88, 2% compared with 84, 9% of retail funds.
Regarding the Asset Allocation by purpose of use is noted that investment in the property sector occur mainly in the office sector: 58.8% for retail funds and 49.6% for those reserved. The second destination of choice to use both categories, the commercial: 22.7% of the total investments of retail funds and 16.2% for those reserved. Third place for investment by retail funds the logistics industry loses appeal and gives way to the tourist / recreational, with commitments for 5.6%. Funds reserved for the third place is the intended use more named (represented mainly by barracks, telephone exchanges and land) which invest 11.5% of jobs.
From the geographical point of view of Asset Allocation, North West and the Center are the areas where there are major investments in real estate. The values for the reserved funds are totaled 45.6% and 45.1% for retail products. Exposures in the South and the Islands continue to decrease gradually for reserved funds, which will invest 9.4% of resources. Foreign investments continue to shrink in the course of the semester in question down to 2% share of jobs overall.
UniCredit sells shares Omicron Plus, brings a new property fund
UniCredit Real Estate SCpA ( "URE") has concluded an agreement for the sale of 3,200 shares held in Omicron Plus Real Estate Fund ( "Fund Omicron Plus"), operated by Italian Real Estate Funds SGR SpA (Fimit "), a company linked to GIC Real Estate (" GIC RE "), the real estate division of the Government of Singapore Investment Corporation, for a total consideration of approximately 78 million euros.On 30 December 2008, had concluded the URE Omicron Plus Fund contribution to a portfolio of 72 properties instrumental for a total value of around 800 million Euro, against which were issued subsequently placed shares with qualified investors and partially owned by the same URE.
The sale of shares to GIC RE URE allows complete transfer of all the shares in the fund after the contribution Omicron Plus in December 2008 with a positive impact of about 3.5 basis points on the Core Tier 1 ratio for the Group and a gain of about 163 million euros in 2009 (including approximately 131 million euros in the third quarter of 2009) net of tax effects and transaction costs, in addition to 282 million euros already made in 2008.
Also today, consistent with the objectives of rationalization of real estate assets of the Group, URE made the contribution of an additional portfolio, consisting of 179 properties with a total value of equipment to receive about 530 million euros in the same Fund Omicron Plus, against which they were issued new shares which are expected to be placed with qualified investors identified by Fimit by May 2010.
The properties covered by the second intake will be fully leased by the Group leases lasting 18 years, renewable for 6 years, with features that allow the group the necessary flexibility in managing its commercial network. Financial Advisor transaction is UniCredit Corporate & Investment Banking UniCredit Group and to Leonardo & Co. Fimit. BNP Paribas Corporate Finance acted as placement agent for the transaction. Advisor Legal Law Firm of the operation are Gianni Origoni Grippo & Partners to UniCredit Group, Studio Legale Grimaldi e Associati for Fimit, Studio Legale Chiomenti GIC, while the lenders were assisted by Legance Law Firm Associate.
The sale of shares to GIC RE URE allows complete transfer of all the shares in the fund after the contribution Omicron Plus in December 2008 with a positive impact of about 3.5 basis points on the Core Tier 1 ratio for the Group and a gain of about 163 million euros in 2009 (including approximately 131 million euros in the third quarter of 2009) net of tax effects and transaction costs, in addition to 282 million euros already made in 2008.
Also today, consistent with the objectives of rationalization of real estate assets of the Group, URE made the contribution of an additional portfolio, consisting of 179 properties with a total value of equipment to receive about 530 million euros in the same Fund Omicron Plus, against which they were issued new shares which are expected to be placed with qualified investors identified by Fimit by May 2010.
The properties covered by the second intake will be fully leased by the Group leases lasting 18 years, renewable for 6 years, with features that allow the group the necessary flexibility in managing its commercial network. Financial Advisor transaction is UniCredit Corporate & Investment Banking UniCredit Group and to Leonardo & Co. Fimit. BNP Paribas Corporate Finance acted as placement agent for the transaction. Advisor Legal Law Firm of the operation are Gianni Origoni Grippo & Partners to UniCredit Group, Studio Legale Grimaldi e Associati for Fimit, Studio Legale Chiomenti GIC, while the lenders were assisted by Legance Law Firm Associate.
MARKET TALK: Lombard Odier, poor growth properties
The real estate stocks showed an increase of 90% from 9 March, driven by the UK market (+118%), Asia (+108%) and USA (+104%), outperforming global markets 35% (compared with the MSCI World). This was announced by a firm of Lombard Odier. At the same time, the value of direct capital market continues to be in decline, analysts reported a drop of 36% from its peak in August 2009 in the United Kingdom and 29% from the peak in June 2008 in the U.S.. The rise and 'was in part driven by the normalization of the returns on risky assets, including securities of companies' listed property, when and' was clear that the worst had passed. The rise of the sector has benefited from the recovery in stock prices, in particular the financial statements. So 'as in the financial sector, real estate stocks most' at risk have expanded outperformed defensive, reflecting the transition from investor aversion to risk tolerance. Evaluations on real estate stocks are positive, with the global market share with a premium compared to the fundamental, particularly in the UK (+6% compared to an average 12%) and on a larger scale, in the U.S. (+20% compared to 0% long term). According to some, prices are discounting the expected increase in real value of assets. Disagree analysts at Lombard Odier in the short term, in fact, the value of their capital and 'falling in the U.S. where a correction on the prices of real estate and' started with a delay and now is intensifying. The stabilization of capital value, is affecting all of continental Europe though with considerable differences between countries. However, the rental market remains under pressure because of rising unemployment. The decline in rents is proceeding at a pace and results inevitably in a downward pressure on prices. Probably, say the analysts, the United Kingdom and 'near a turning point, the rental market is slowly improving, so' as the credit market, however, access to capital and refinancings continue to be difficult to achieve, the signals that suggest that the recovery process will 'slow. The study of Lombard Odier, that real estate stocks are not particularly attractive at current levels, the sector appears to have no more chance 'of growth. Analysts therefore recommend caution especially on financial statements. Instead the direct property market attracts, especially the UK, given the leading position in the sky.
Housing sector still in decline in 2nd quarter
In Italy there are still negative signs from the housing market. In the second quarter of this year, in fact, as communicated by the land, the total trading volume was 361,844 transactions (NTN), a decrease of 12.3% compared to Q2 2008. The Quarterly, produced by the Center of the housing market, confirming, therefore, the negative trend already reported from the 2nd half of 2006, after a long period of growth more or less continuous.
In detail, the residential sector with 163,894 marks Trading value (- 12.9%) which reflects the performance of all other sectors, the tertiary sector with 4347 transactions, records the lowest decrease (- 5.4%); the commercial sector with 10,209 NTN is equal to - 14.5%, the manufacturing sector with 3170 NTN is the one with the highest decrease (- 20.3%). The market for the residential sector undergoes a major decrease in the Center (-14.4%), which is more limited in the North (-12.7%) and South (-12.3%).
The note further confirms, as already highlighted in previous Quarterly, that the housing market downturn is more marked in non-capital municipalities (-14.6%), while the contraction in the capitals is slightly lower (-8.9 %). Even for the main 8 cities and related provinces confirms this trend, with a sharp fall in trading especially in smaller municipalities (-13.9% on average) is considerably smaller in major cities (-5.7%).
As for residential property prices in the 1st half of 2009 was a slight decline in the national average, per unit of area. The average price drops to € 1578 / m², marking a 0.5% compared to the 2nd half of 2008.
The price trend reflects the sharp reduction of trading. It shows, however, the stability of house prices to low values. Indeed, even if for the first time, saw a change in national average negative. In the 1st half of 2009, the rate of change is only -0.3% for the index of consumer prices was also negative, and therefore house prices suffered a decline in real terms lower than those expressed in terms nominal.
In detail, the residential sector with 163,894 marks Trading value (- 12.9%) which reflects the performance of all other sectors, the tertiary sector with 4347 transactions, records the lowest decrease (- 5.4%); the commercial sector with 10,209 NTN is equal to - 14.5%, the manufacturing sector with 3170 NTN is the one with the highest decrease (- 20.3%). The market for the residential sector undergoes a major decrease in the Center (-14.4%), which is more limited in the North (-12.7%) and South (-12.3%).
The note further confirms, as already highlighted in previous Quarterly, that the housing market downturn is more marked in non-capital municipalities (-14.6%), while the contraction in the capitals is slightly lower (-8.9 %). Even for the main 8 cities and related provinces confirms this trend, with a sharp fall in trading especially in smaller municipalities (-13.9% on average) is considerably smaller in major cities (-5.7%).
As for residential property prices in the 1st half of 2009 was a slight decline in the national average, per unit of area. The average price drops to € 1578 / m², marking a 0.5% compared to the 2nd half of 2008.
The price trend reflects the sharp reduction of trading. It shows, however, the stability of house prices to low values. Indeed, even if for the first time, saw a change in national average negative. In the 1st half of 2009, the rate of change is only -0.3% for the index of consumer prices was also negative, and therefore house prices suffered a decline in real terms lower than those expressed in terms nominal.
Thursday, October 1, 2009
Ecology upside down real estate in the Finance Act 2010
Emerging from a cabinet expected, Luc Chatel, Spokesperson of the Government yesterday unveiled to the press the outlines of the draft budget law 2010. If the state budget for the coming year gives pride to the ecology, when is it real estate? Marked by the prospect of a record deficit, the draft 2010 budget presented yesterday at noon nevertheless resolutely turned towards an environmental approach, carbon taxes and green check in front. Promotion of ecology that seems destined to grow in many sectors, particularly real estate.
Overview of changes which should be submitted property:
* Deductibility of interest on a mortgage: the prospective homeowners appear to be the first affected by the wave ecological commitment. Benefiting from 2007 and the establishment of the TEPA (Work, employment and purchasing power) of an interest deductibility of mortgage on their income taxes, future owners will benefit from this tax in 2010 revised downward. For now, they can still claim to deduct from their taxes 40% interest on their mortgage the first year and 20% following 4 years. Some ecological commitment had already left his mark on this measure with the 1st January 2009, its restriction on new housing regulations respecting the thermal current (RT 2005). Since that date, the purchaser of a housing low consumption could in turn receive a tax deduction of 40% of its loan interest for 7 years. Starting next year, the tax deduction of mortgage will be restricted again: it will even become more of a deduction of 40% the first year and 20% following 4 years rather than 30% followed 15%. In 2011, the tax benefit will be further reduced to be increased to 25% and 10%. Finally, a new property (house or apartment) purchased or constructed in 2012 will not only benefit from a tax deduction of 15% of loan interest the first year and 5% following the 4.
Regarding the environmental component, the so-called low-energy buildings continue to allow a tax deduction of 40% over 7 years. As of 2013 however, year in which the standard on the low-energy buildings (BBC) should be made mandatory for all new dwellings, the property only positive energy can still benefit from any interest deductibility of loan.
* The tax exemption Scellier: After a very successful start, the latest device of tax exemption law Scellier will also be gradually subjected to ecological orientation that has emerged as the priority of the Government. So far, the purchaser of a new home put it on the rental market could benefit through the device Scellier, a tax rebate of 25% of the purchase price (for property purchased in 2009 and 2010) or 20% if it was acquired in 2011 and 2012. A tax benefit that investors obviously took into account in estimating his property. According to the draft 2010 budget law, the law of tax exemption in its original form would gradually but inevitably be exclusively reserved for new housing consumption low. Making a rental investment in 2010 on a property BBC does not allow more to benefit from a tax deduction of 25%, the latter being reduced to 20%. Acquired for housing in 2011, the tax benefit will be only 15% (down from 20% currently).
* The interest-free loan: The interest-free loan was originally to expire at the end of 2009. In its draft 2010 budget law, the Government extends the mortgage without interest until December 31, 2012. Finally some good news for individuals wishing to become homeowners, especially since the recent doubling of PTZ (up to 65,100 euros) should be maintained until 30 June. From that date until December 31, 2010, loans contracted to zero will not be subject to a doubling but rather to an increase of 50% ceiling on the amount of the loan to 48,750 euros (32,500 cons no markup) .
* Equipping an air conditioning: lesser extent but it should be noted, however, an owner wishing to equip its housing of an air conditioning system should, from 1 January 2010, be exempt from VAT.
Overview of changes which should be submitted property:
* Deductibility of interest on a mortgage: the prospective homeowners appear to be the first affected by the wave ecological commitment. Benefiting from 2007 and the establishment of the TEPA (Work, employment and purchasing power) of an interest deductibility of mortgage on their income taxes, future owners will benefit from this tax in 2010 revised downward. For now, they can still claim to deduct from their taxes 40% interest on their mortgage the first year and 20% following 4 years. Some ecological commitment had already left his mark on this measure with the 1st January 2009, its restriction on new housing regulations respecting the thermal current (RT 2005). Since that date, the purchaser of a housing low consumption could in turn receive a tax deduction of 40% of its loan interest for 7 years. Starting next year, the tax deduction of mortgage will be restricted again: it will even become more of a deduction of 40% the first year and 20% following 4 years rather than 30% followed 15%. In 2011, the tax benefit will be further reduced to be increased to 25% and 10%. Finally, a new property (house or apartment) purchased or constructed in 2012 will not only benefit from a tax deduction of 15% of loan interest the first year and 5% following the 4.
Regarding the environmental component, the so-called low-energy buildings continue to allow a tax deduction of 40% over 7 years. As of 2013 however, year in which the standard on the low-energy buildings (BBC) should be made mandatory for all new dwellings, the property only positive energy can still benefit from any interest deductibility of loan.
* The tax exemption Scellier: After a very successful start, the latest device of tax exemption law Scellier will also be gradually subjected to ecological orientation that has emerged as the priority of the Government. So far, the purchaser of a new home put it on the rental market could benefit through the device Scellier, a tax rebate of 25% of the purchase price (for property purchased in 2009 and 2010) or 20% if it was acquired in 2011 and 2012. A tax benefit that investors obviously took into account in estimating his property. According to the draft 2010 budget law, the law of tax exemption in its original form would gradually but inevitably be exclusively reserved for new housing consumption low. Making a rental investment in 2010 on a property BBC does not allow more to benefit from a tax deduction of 25%, the latter being reduced to 20%. Acquired for housing in 2011, the tax benefit will be only 15% (down from 20% currently).
* The interest-free loan: The interest-free loan was originally to expire at the end of 2009. In its draft 2010 budget law, the Government extends the mortgage without interest until December 31, 2012. Finally some good news for individuals wishing to become homeowners, especially since the recent doubling of PTZ (up to 65,100 euros) should be maintained until 30 June. From that date until December 31, 2010, loans contracted to zero will not be subject to a doubling but rather to an increase of 50% ceiling on the amount of the loan to 48,750 euros (32,500 cons no markup) .
* Equipping an air conditioning: lesser extent but it should be noted, however, an owner wishing to equip its housing of an air conditioning system should, from 1 January 2010, be exempt from VAT.
The real estate shines again
In London and Paris, returning transactions with vendors again become reasonable.
Paralyzed a year ago by the collapse of Lehman Brothers, the international market for luxury real estate begins to take color. "Transactions of quality goods resumed after six months off net", says Fabienne Lenfant, director of the London bureau of the real estate firm Barnes.
In the UK, potential buyers, mostly foreigners, were encouraged by prices that have fallen 30% since their peak in summer 2007, but also by the collapse of the pound sterling, which is equal to that around 1.10 euro (1.50 cons mid-2007). In this climate, the exceptional properties are beginning to reappear on the London market. As St Savior's House, a church converted into a luxury home (800 sqm, six bedrooms, with pool and sauna in the basement), close to Harrods, in the heart of a very posh Knightsbridge.
In Paris also the thaw is well underway, provides Thibault de Saint Vincent, president of Barnes: "The confidence is back from January. There is more panic, sellers have become more reasonable, with prices declining by 10% a year in Paris intra muros, and 30% in the beautiful heart of western Paris. " On the Riviera - a market that had become a caricature - buyers and sellers are also back down to earth.
Paralyzed a year ago by the collapse of Lehman Brothers, the international market for luxury real estate begins to take color. "Transactions of quality goods resumed after six months off net", says Fabienne Lenfant, director of the London bureau of the real estate firm Barnes.
In the UK, potential buyers, mostly foreigners, were encouraged by prices that have fallen 30% since their peak in summer 2007, but also by the collapse of the pound sterling, which is equal to that around 1.10 euro (1.50 cons mid-2007). In this climate, the exceptional properties are beginning to reappear on the London market. As St Savior's House, a church converted into a luxury home (800 sqm, six bedrooms, with pool and sauna in the basement), close to Harrods, in the heart of a very posh Knightsbridge.
In Paris also the thaw is well underway, provides Thibault de Saint Vincent, president of Barnes: "The confidence is back from January. There is more panic, sellers have become more reasonable, with prices declining by 10% a year in Paris intra muros, and 30% in the beautiful heart of western Paris. " On the Riviera - a market that had become a caricature - buyers and sellers are also back down to earth.
The rate mortgages fell by 1.3 points in one year
"Today, the rate situation is extremely favorable for buyers," summed up Geoffrey Bragadir, founder of the broker Empruntis.com presenting its annual survey. It's almost an understatement as the rate fixed mortgage in 20 years are in free fall: - 1.30 points a year, sometimes more. They stand at 4.10% on average today against 5.40% in October 2008, reducing them to levels in November 2006. In comparison, for a loan of 150,000 euros over 20 years, this decline could save 25,000 euros on the total cost of credit.
The pace was even faster, according to other industry professionals, whose analysis was published recently. According Meilleurtaux, 95% of partner banks have reduced their rates in September, from 0.16% on average. ACE estate goes even further and bet on a further decline by the end of the year, provided that ECB rates remain unchanged. This fall is a real ate oxygen for borrowers who have the opportunity to reduce the duration of their credit. In the second quarter of 2008, it reached nearly 22 years, today it appears to 20 years. Loans for a period exceeding 25 years are the exception. "It must be said that bankers do not want to commit to a horizon too long, even if they have gradually reintroduced credits to 25 or 30 years' analysis Cyril Blesson, economist at Seeds Company, a consulting firm in financial investments .
With fixed rates as low, variable rates are not very attractive, according to simulations conducted by Empruntis.com. For a loan of 200,000 euros, the gain on the total cost of credit by taking the variable can amount to 8446 euros for a loan over 15 years (13,905 in 20 years), but only if the ECB rate to remain 1%. A scenario implausible. If, on the contrary, they increase by 1 point for 10 years before returning to current levels (which is already optimistic), the loss from the fixed rate will be 2.000 euro. Individuals rush they provided in their agency to borrow? Certainly, according to the Bank of France, bankers perceive an improvement in credit demand from the start. Meilleurtaux.com abounds in the same direction: "Applications have increased 30% over the first 15 days of September compared to the previous year. But the downturn was such that in 2008-2009 demand remains weak. According Empruntis.com, the amount of new loans fall to 90 billion euros in 2009 against a peak of 156.7 billion in 2007.
The pace was even faster, according to other industry professionals, whose analysis was published recently. According Meilleurtaux, 95% of partner banks have reduced their rates in September, from 0.16% on average. ACE estate goes even further and bet on a further decline by the end of the year, provided that ECB rates remain unchanged. This fall is a real ate oxygen for borrowers who have the opportunity to reduce the duration of their credit. In the second quarter of 2008, it reached nearly 22 years, today it appears to 20 years. Loans for a period exceeding 25 years are the exception. "It must be said that bankers do not want to commit to a horizon too long, even if they have gradually reintroduced credits to 25 or 30 years' analysis Cyril Blesson, economist at Seeds Company, a consulting firm in financial investments .
With fixed rates as low, variable rates are not very attractive, according to simulations conducted by Empruntis.com. For a loan of 200,000 euros, the gain on the total cost of credit by taking the variable can amount to 8446 euros for a loan over 15 years (13,905 in 20 years), but only if the ECB rate to remain 1%. A scenario implausible. If, on the contrary, they increase by 1 point for 10 years before returning to current levels (which is already optimistic), the loss from the fixed rate will be 2.000 euro. Individuals rush they provided in their agency to borrow? Certainly, according to the Bank of France, bankers perceive an improvement in credit demand from the start. Meilleurtaux.com abounds in the same direction: "Applications have increased 30% over the first 15 days of September compared to the previous year. But the downturn was such that in 2008-2009 demand remains weak. According Empruntis.com, the amount of new loans fall to 90 billion euros in 2009 against a peak of 156.7 billion in 2007.
U.S.: Consumer confidence obscures the real estate
Against all odds, the index of U.S. consumer confidence fell in September, while analysts expected an increase. Regarding real estate, however, the fall in house prices has slowed further in July.
Scrutinized, watched and waited, the indicator reflecting the confidence of U.S. consumers are expected to firm up each month by the observers. No wonder indeed, when we know that household consumption is the main engine of the U.S. economy. But statistics for the month of September, released Tuesday, was booked surprises. Consumer confidence has declined by 1.4 points from August to $ 53.1, according to the Conference Board. A blow to the analysts, who waited an average of 57. Americans finding it difficult to find a job are 47% against 44.3% the previous month, shows the survey of 5,000 households, and those who think that finding a job is easy is only 3.4%, at most lowest since February 1983. The proportion of respondents considering the economic conditions "poor" has also increased by 1.7 points to 46.3%. This book weighs disappointing on trade on Wall Street, the indices are now trending downward.
House prices are retreating under
Operators find comfort while on the falling price of houses in the United States. Indeed, before the opening of markets, the publication of the Case-Shiller index showed that prices in this sector rose for the third straight month in July in the United States. The index thus displays a yoy decline of 13.3% in July, after -15.4% in June, while economists were expecting -14.3%. Sign of significant improvement of the situation, housing prices have increased on average by 1.6% in July compared to June The S & P / Case-Shiller is in the red since January 2007.
Scrutinized, watched and waited, the indicator reflecting the confidence of U.S. consumers are expected to firm up each month by the observers. No wonder indeed, when we know that household consumption is the main engine of the U.S. economy. But statistics for the month of September, released Tuesday, was booked surprises. Consumer confidence has declined by 1.4 points from August to $ 53.1, according to the Conference Board. A blow to the analysts, who waited an average of 57. Americans finding it difficult to find a job are 47% against 44.3% the previous month, shows the survey of 5,000 households, and those who think that finding a job is easy is only 3.4%, at most lowest since February 1983. The proportion of respondents considering the economic conditions "poor" has also increased by 1.7 points to 46.3%. This book weighs disappointing on trade on Wall Street, the indices are now trending downward.
House prices are retreating under
Operators find comfort while on the falling price of houses in the United States. Indeed, before the opening of markets, the publication of the Case-Shiller index showed that prices in this sector rose for the third straight month in July in the United States. The index thus displays a yoy decline of 13.3% in July, after -15.4% in June, while economists were expecting -14.3%. Sign of significant improvement of the situation, housing prices have increased on average by 1.6% in July compared to June The S & P / Case-Shiller is in the red since January 2007.
Real Estate: the phony crisis
It is a strange crisis in the housing sector. Figures published yesterday's Chamber of Notaries of Ile-de-France have shown, the old market is stationary. Transactions are scarce and prices down, even in Paris intra-muros, which is new. Conversely, in recent months, nine experienced a true fever. One statistic sums up the situation: the first eight months of the year, bookings are up 50% compared to 2008. Finally, the hollow of the wave has not been very long for the developers. It lasted only six months between September and March. Since they have taken good habits. And for the future, they begin to compete to buy land, causing a rise in land prices.
The reason for this decoupling is simple. It is even a word: taxes. While the new one has benefited from the end of 2008 a tax boost factor, the device Scellier the former, he has received no aid. So, either lower rates or increased appetite of banks for mortgage lending have been sufficient to reverse the trend. The resumption of the new home market is fragile indeed. It does not include property over 300,000 euros and, in turn, starts remain limited. Nevertheless. Once again, real estate shows that is strongly influenced by taxation. Professionals know this, claiming a tax scheme for the former to break the deadlock.
The reason for this decoupling is simple. It is even a word: taxes. While the new one has benefited from the end of 2008 a tax boost factor, the device Scellier the former, he has received no aid. So, either lower rates or increased appetite of banks for mortgage lending have been sufficient to reverse the trend. The resumption of the new home market is fragile indeed. It does not include property over 300,000 euros and, in turn, starts remain limited. Nevertheless. Once again, real estate shows that is strongly influenced by taxation. Professionals know this, claiming a tax scheme for the former to break the deadlock.
Wednesday, September 30, 2009
Wall Street supported by signs of improvement in real estate
The NYSE was up early Tuesday shortly after the opening, supported by signs of improvement in real estate, pending an indicator on the morale of U.S. households: the Dow Jones gained 0.20% and the Nasdaq 0.21%.
Vers 13H40 GMT, the Dow Jones Industrial Average took 19.12 points to 9808.48 points and the Nasdaq, dominated by technology, 4.43 points, 2. 135.17 points.
The Standard & Poor's 500 rose 0.31% from him (3.32 points) to 1066.30 points.
On Monday, Wall Street has ended sharply higher, under the positive influence of several announcements of acquisitions but in a limited volume of trade. The Dow had gained 1.28%, 1.90% Nasdaq and the S & P 500 1.78%.
The excitement was less clear on Tuesday at the opening. Signs of improvement in the housing market still allowed indices to maintain.
Falling housing prices in the United States slowed again in July to 13.3% a year, its lowest rate since February 2008, according to the S & P / Case-Shiller index measuring prices in the twenty largest U.S. cities.
The bond market declined. The yield on the 10-year Treasury went back to 3.326% against 3.302% Monday, and that's good for 30 years at 4.072% against 4.045% yesterday.
Vers 13H40 GMT, the Dow Jones Industrial Average took 19.12 points to 9808.48 points and the Nasdaq, dominated by technology, 4.43 points, 2. 135.17 points.
The Standard & Poor's 500 rose 0.31% from him (3.32 points) to 1066.30 points.
On Monday, Wall Street has ended sharply higher, under the positive influence of several announcements of acquisitions but in a limited volume of trade. The Dow had gained 1.28%, 1.90% Nasdaq and the S & P 500 1.78%.
The excitement was less clear on Tuesday at the opening. Signs of improvement in the housing market still allowed indices to maintain.
Falling housing prices in the United States slowed again in July to 13.3% a year, its lowest rate since February 2008, according to the S & P / Case-Shiller index measuring prices in the twenty largest U.S. cities.
The bond market declined. The yield on the 10-year Treasury went back to 3.326% against 3.302% Monday, and that's good for 30 years at 4.072% against 4.045% yesterday.
New plan to support housing in the United States
A total of 35 billion dollars (24 billion euros) to support the real estate sector in the United States, is what was argued on Tuesday the Wall Street Journal and Washington Post. A sum which would help primarily those agencies that are controlled by local communities and who provide or guarantee loans to the poorest households.
This support plan follows the much more solid, which was launched last February by the Obama administration, a total of 275 billion dollars (220 billion euros) to help seven to nine million households directly affected or threatened by the credit crisis. Figures of August sales of existing homes in the United States soon to confirm a market recovery. According to data published by the National Association of real estate (NAR), they fell 2.7% on month in August. On an annualized basis, they stand at 5.10 million units against 5.24 million in July and 5.35 million expected by consensus.
This support plan follows the much more solid, which was launched last February by the Obama administration, a total of 275 billion dollars (220 billion euros) to help seven to nine million households directly affected or threatened by the credit crisis. Figures of August sales of existing homes in the United States soon to confirm a market recovery. According to data published by the National Association of real estate (NAR), they fell 2.7% on month in August. On an annualized basis, they stand at 5.10 million units against 5.24 million in July and 5.35 million expected by consensus.
BUDGET The real estate old undermined by the Finance Act 2010
On the eve of presenting the draft budget law for 2010, Fnaim expressed concern for the future of the former rental investment real estate and former general.
CORRECTION OF THE REAL ESTATE MARKET IS EXPECTED TO MODERATE IN 2010
"Investment and rental old former real estate in general seem to bear the brunt of budget constraints," said the National Federation of real estate, Fnaim in a statement published on the eve of presenting the draft budget law 2010.
The specialist real estate, including concerns about the future "CLA" or local assessment of activity and the social tax levies on capital gains property previously exempt. Concerning the CLA, the Fnaim says he is "a tax too. The proposed reform of business tax plans to impose new contribution to all activities of building leases provided that the gross receipts that removes the taxpayer are greater than 15,000 euros.
And the social tax levies on capital gains would be exempt real estate is another obstacle to investment property and proprietary interest in the sector, the statement said the Fnaim.
CORRECTION OF THE REAL ESTATE MARKET IS EXPECTED TO MODERATE IN 2010
"Investment and rental old former real estate in general seem to bear the brunt of budget constraints," said the National Federation of real estate, Fnaim in a statement published on the eve of presenting the draft budget law 2010.
The specialist real estate, including concerns about the future "CLA" or local assessment of activity and the social tax levies on capital gains property previously exempt. Concerning the CLA, the Fnaim says he is "a tax too. The proposed reform of business tax plans to impose new contribution to all activities of building leases provided that the gross receipts that removes the taxpayer are greater than 15,000 euros.
And the social tax levies on capital gains would be exempt real estate is another obstacle to investment property and proprietary interest in the sector, the statement said the Fnaim.
Real Estate: CSG could be applied to gains on sales
In an interview Tuesday with the Echos, Gilles Carrez, rapporteur UMP budget to the National Assembly, announced his intention to file an amendment to that effect in the draft budget law 2010. THE LOW RATE OF REAL ESTATE LENDING SLOWS, ACCORDING? OBSERVATORY CREDIT HOUSING-CSA
Pay the generalized social contribution on real estate gains? It wants to impose what Gilles Carrez, general rapporteur of the budget to the National Assembly, expressed Tuesday in the Voices column. The UMP MP wants to impose the payment of the CSG on gains realized upon the sale of real estate other than principal residence.
To defend his point of view, Gilles Carrez said he would table an amendment to the draft budget law for 2010 that "the CSG be paid in euros for the first real estate gains when it is not the principal residence (...) They are now partially exempt after six years of detention of the property and completely after 15 years, "says he. "We have a common position on this matter with the Committee on Social Affairs," he said.
Pay the generalized social contribution on real estate gains? It wants to impose what Gilles Carrez, general rapporteur of the budget to the National Assembly, expressed Tuesday in the Voices column. The UMP MP wants to impose the payment of the CSG on gains realized upon the sale of real estate other than principal residence.
To defend his point of view, Gilles Carrez said he would table an amendment to the draft budget law for 2010 that "the CSG be paid in euros for the first real estate gains when it is not the principal residence (...) They are now partially exempt after six years of detention of the property and completely after 15 years, "says he. "We have a common position on this matter with the Committee on Social Affairs," he said.
A real estate agent, removed for 10 years
You buy a house to discover later that it was used greenhouse for growing marijuana. Worse yet, your real estate agent was aware and not say anything. It happened in Montérégie In February 2004, police raided a residence in Boucherville. The basement, discovered 1,400 marijuana plants. A man, Michel Bergevin, was arrested. His wife, Christelle Tran, a real estate agent sell the house a few weeks later hiding buyers that the property was used for growing cannabis. The interior walls were covered with mold. A serious act which earned him a recent cancellation of 10 years, one of the harshest penalties ever issued by its disciplinary committee.
Tuesday, September 29, 2009
Partners Group has placed its global fund "Real Estate Fund"
Partners Group has set a new property fund successfully. Real Estate Fund "has received EUR 275 million in capital. The fund began trading and investment had reached the closing level of investment by 40%, Partners Group said Wednesday in a statement. The fund will be based on a diversified portfolio in accordance with the Strategy Partners Group. Among investors, the fund account of pension funds and public companies, insurance, family offices and foundations.
"The prestigious Parisian real estate will never know the crisis"
It was not a gamble, because I know this area very well. I created and led for 10 years a company upholstery, which printed especially for a subsidiary of Hermes, to meet client demands in Riyadh, Jeddah or Dubai. I was therefore a very good knowledge of high-end and Middle Eastern clients. And I know, after more than 30 years of business, two things that sell very well. This is the very high end and low end. It is also the reason that prompted me to offer your services "tailor-made original with a personalized concierge service. The rich client is willing to pay for the service ... provided that it exists!
Meynet Philippe Petit Jean: The problem is that France comes to luxury but does not. The prestige, regarding real estate, means something different, unique, which is stored separately from other types of property. It's still an area that corresponds to the ideal image that the affluent clientele of foreign capital.
Meynet Philippe Petit-Jean: Very good! The only real difficulty faced by owners today is the lack of liquidity of banks. This happened recently on two sales, one of $ 9 million, another 15 million euros. One of them has been delayed for 7 months and half due to the inability of the bank released the funds needed. The money had been lost in stock market and he had to wait. But beyond that, the estate of prestige to the chance of being preserved in Paris. Even if a discrepancy exists between some owners who dream of the value of their property and foreign customers is very aware of the real market values. But now we are seeing a rebalancing of prices, even if the real estate of prestige will always overvalued, by its nature.
Meynet Philippe Petit Jean: The prestigious Parisian real estate will not suffer a crisis. Paris will always dream about as much, whether the Italians, Middle Easterners and Americans. Besides the Russians back on the market and the Chinese come gradually. The Champs-Elysées are a magnet for these clients. We talk about the City of Light in the world! The historic districts, including the "Golden Triangle" (Part of the 8th district bounded by the avenues Montaigne, George V and Champs Elysees editor's note) will never have a problem. It also notes that more and more rich foreigners no longer want to go to the hotel. A very high official Saudi told me recently that it saw no reason to spend 1.5 million euros per year in the hotel that it was possible to buy at this price an exceptional apartment in a few years .. .
Meynet Philippe Petit-Jean: We're just there to run for the referral. You should know that foreigners seeking to systematically redevelop the property that they come to acquire. They indeed want to redecorate the apartment according to the customs, traditions of their country of origin. Why we are working with collaborators from all countries.
Meynet Philippe Petit Jean: The problem is that France comes to luxury but does not. The prestige, regarding real estate, means something different, unique, which is stored separately from other types of property. It's still an area that corresponds to the ideal image that the affluent clientele of foreign capital.
Meynet Philippe Petit-Jean: Very good! The only real difficulty faced by owners today is the lack of liquidity of banks. This happened recently on two sales, one of $ 9 million, another 15 million euros. One of them has been delayed for 7 months and half due to the inability of the bank released the funds needed. The money had been lost in stock market and he had to wait. But beyond that, the estate of prestige to the chance of being preserved in Paris. Even if a discrepancy exists between some owners who dream of the value of their property and foreign customers is very aware of the real market values. But now we are seeing a rebalancing of prices, even if the real estate of prestige will always overvalued, by its nature.
Meynet Philippe Petit Jean: The prestigious Parisian real estate will not suffer a crisis. Paris will always dream about as much, whether the Italians, Middle Easterners and Americans. Besides the Russians back on the market and the Chinese come gradually. The Champs-Elysées are a magnet for these clients. We talk about the City of Light in the world! The historic districts, including the "Golden Triangle" (Part of the 8th district bounded by the avenues Montaigne, George V and Champs Elysees editor's note) will never have a problem. It also notes that more and more rich foreigners no longer want to go to the hotel. A very high official Saudi told me recently that it saw no reason to spend 1.5 million euros per year in the hotel that it was possible to buy at this price an exceptional apartment in a few years .. .
Meynet Philippe Petit-Jean: We're just there to run for the referral. You should know that foreigners seeking to systematically redevelop the property that they come to acquire. They indeed want to redecorate the apartment according to the customs, traditions of their country of origin. Why we are working with collaborators from all countries.
HFR launches six indices raw materials, energy and real estate:
Hedge Fund Research has launched six new indices that cover its range to 71 products. These HFRX Commodity: Agricultural Index, HFRX Commodity: Energy Index, HFRX Commodity: Metals Index, HFRX Alternative Energy Index, HFRX Energy Infrastructure Index and HFRX Real Estate Index, which as the name suggests covers materials ( agriculture, energy, metals), energy "alternative" infrastructure and real estate. These indices are calculated using a methodology consistent with the UCITS III Directive.
UFG REM Launches REIT Scellier
UFG Real Estate Managers, a subsidiary property management group UFG launches Multihabitation 5, his first company Real Estate Investment Trust (REIT) Scellier.
"The strategy of our new REIT is a selection of heritage operations, principally located in area A, near Paris region, on dynamic sectors of the economy but also on the rental plan, these areas have provided excellent results Rental on the previous Housing REIT, REM UFG said in a statement.
Several projects are thus already validated in the Hauts-de-Seine - two in Suresnes, a Asnieres, one in Antony and another Chatenay-Malabry. In the development of new districts, the town of Wissous the heart of the Essonne is a possible target for future projects. In the provinces, new quarters are also preferred, as in Bruges, north of Bordeaux, through the development of district Tasta.
"All these projects represents a volume close to 30 million euros, and the match between market values and negotiated supply rental confirmed by our previous investments on these targets led to an average gross return of between 4 60% and 4.70%, "said UFG REM.
"The strategy of our new REIT is a selection of heritage operations, principally located in area A, near Paris region, on dynamic sectors of the economy but also on the rental plan, these areas have provided excellent results Rental on the previous Housing REIT, REM UFG said in a statement.
Several projects are thus already validated in the Hauts-de-Seine - two in Suresnes, a Asnieres, one in Antony and another Chatenay-Malabry. In the development of new districts, the town of Wissous the heart of the Essonne is a possible target for future projects. In the provinces, new quarters are also preferred, as in Bruges, north of Bordeaux, through the development of district Tasta.
"All these projects represents a volume close to 30 million euros, and the match between market values and negotiated supply rental confirmed by our previous investments on these targets led to an average gross return of between 4 60% and 4.70%, "said UFG REM.
Germany, Hypo Real Estate was in need of new capital
The group of mortgage German Hypo Real Estate . which has been nationalized with the crisis, hidden potential losses of several billion euros, could lead to be recapitalized again, Sunday.
The newspaper, citing an unpublished study by the Bundesbank, the potential loss of HRE on loans and securities amounted to 16.3 billion euros.
Should they be externalized in the income statement, HRE would need 26 billion euros of additional capital to ensure it is properly capitalized, "wrote the newspaper on the faith of the report.
HRE, now almost entirely owned by the state, has already received three billion of fresh capital and is expected to receive seven by the end of the year.
A spokesman for HRE described the figures as Tagesspiegel "unrealistic" because they fall under the situation where the bank immediately sells all its assets and the losses related. However, not foreseen, they say. In late 2008, the difference between the market value of the assets of HRE and the price they were enrolled in the group accounts was 31.5 billion euros.
The newspaper, citing an unpublished study by the Bundesbank, the potential loss of HRE on loans and securities amounted to 16.3 billion euros.
Should they be externalized in the income statement, HRE would need 26 billion euros of additional capital to ensure it is properly capitalized, "wrote the newspaper on the faith of the report.
HRE, now almost entirely owned by the state, has already received three billion of fresh capital and is expected to receive seven by the end of the year.
A spokesman for HRE described the figures as Tagesspiegel "unrealistic" because they fall under the situation where the bank immediately sells all its assets and the losses related. However, not foreseen, they say. In late 2008, the difference between the market value of the assets of HRE and the price they were enrolled in the group accounts was 31.5 billion euros.
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