July 28, 2014
The property will be an interesting asset in which to invest, once the price is set, and profitability has fallen bank deposits and government bonds. But only for investors who have a high net worth, more than five years ahead, and after a rigorous selection of the property. That is pointed to by Bankinter option.
The bank portion of the real estate market slowly begins a cycle change and moves towards a recovery that will be gradual. It provides an improvement in the economic environment over the next 18 months and detects moderation in price declines.
In his view, the upward trend in offices and shopping centers could be moved in the coming quarters as the residential market. “The numbers of home sales during the first months of the year confirm that we are in a turnaround has come not defined by a rapid increase in the demand, but by a slower recovery than in previous cycles,” according Bankinter.
There are two reasons why rule out housing demand figures range 2005-2007: declining population and lack of credit. According to the INE group of those between 25 and 49 years will be reduced by four million people between 2014 and 2023, to which the return to their countries of migrants will be added. As for the mortgage lending continues to fall and not be reactivated given the degree of bank indebtedness, late payment that is not reduced and that the measures announced by the ECB discarded credit for homebuyers.
“However, these obstacles will not prevent sales to rebound gradually to 330,000 in 2014 and 365,000 in 2015 Of this total, sales of new homes should be placed in a figure close to 65,000 in 2014 and 90,000 / 100,000 2015, “the report Bankinter.
The improvement is anticipated that the Spanish economy accumulates three consecutive quarters in expansion and GDP will grow by 1.3% this year and 2.1% in 2015 also expect a reduction in the unemployment rate to 22 % in late 2015 on the side of demand, home purchases by foreigners and non-residents account for 16%, driven largely by the remarkable economic growth of Germany and the UK and the advantages of climate and security Spanish. Asians are particularly interested to get into Europe via Spain leveraging residence visas for real estate investments of more than 500,000 euros.
Bankinter’s report cites CBRE whereby purchases of non-residential assets reached in the first half of the 3.226 million euros, representing an increase of 122% over 2013 financial institution that holds the interest in the tertiary will end up moving to residential short term.
2015 expected price spikes in some of the best locations and predicts an increase of up to 4% in 2015 Note that there are several studies that have identified market price increases in some districts of the big cities that have consumed the stock.
Bankinter seeks growth in the average price of housing within nine to twelve months. This is one of the data so that it is inclined to prefer investing in residential real estate assets in good locations and capital costs, in view of the current spike in rental yield and future price spike and thinking about who has a good assets to support him.
Instead, appreciate still uncertainties regarding assets Socimi being created, except for Merlin Properties, despite the appeal that may involve operating traded, they are to be distributed as dividends 80% who do not reinvest and are exempt corporate tax.
Grows 110% real estate investment
Socimi have facilitated growth in non-residential investment in Spain, 110% in annual terms during the first half of 2014; 2,300 million euros, according to BNP Paribas Real Estate.
Almost 40% of the investment has gone to the hotel followed business assets (29%) and offices (27%). 65% of the capital comes from China, Latin America or the Persian Gulf. And the total, 810 million euros have the national seal, which is a percentage increase of 150% in the amount deposited by Spanish investors. The losing weight is on the institutional investor, with only 18% share merado and descending.
Chapter vendors, financial institutions directly or through their estate is the most active.
Francisco Manchon, investment director at BNP Paribas Real Estate in Spain, 2015 expected an increase in sales and profitability, as well as investors diversify into secondary markets and real value added.
July 14, 2014
Yields dividend yield Fibras outperform these vehicles in the U.S. due to higher interest rates and strong growth in Mexico that still have only three years after it was created.
Fideicomisos de Inversión en Bienes (fibras) in Mexico have distributed profits are more attractive than those of these instruments in the United States, called Real Estate Investment Trusts (REITs, for its acronym in English).
While in the first quarter of 2014, REITs dividends distributed with an annualized return of 4.1 percent, the lowest in the last four quarters, in Mexico this indicator was 6 percent.
The dividend yield (dividend yield) is calculated based on the distribution of market certificate made Fibers and price listed. Being hybrid capital and debt instruments between, investors do not only look at the price of the securities in the market, but also in the dividend yield.
Since leaving the Bolsa Mexicana de Valores (BMV), in March 2011, Fibra Uno has a yield of 132 percent to pass your Certificados Bursátiles Fiduciarios Inmobiliarios (CBFIs) for a price of 19.50 pesos to 45.27 (yesterday’s close ) and its annual dividend yield of 2013 was 12 percent.
A person who invested 950,000 million pesos Fiber One, since it hit the market, has had a gain 3 million 46 thousand 570 pesos, that is, 156 percent. This includes the accumulated price of CBFIs and dividends paid to increase.
The highest yields of fiber are associated with the start-up phase by traversing the instruments in Mexico, just three years of being created, as well as aggressive expansion that has driven its financial results with up to triple digit growth in its operating profit, analysts said.
“The fibras are at a stage where they present significant growth rates in new properties and also yields (dividend) relatively attractive relative to interest rates, to vary between 4 and 8 percent,” said Augusto Arellano, director of Investment Banking Evercore Mexico.
Fibers with lower dividend yields are those that have in their portfolios a lot of properties in development that do not generate revenue by not being bound, which punishes the quarterly payment to investors, said Arellano.
The index brings together the eight fibers that are listed on the market today accumulated yield of 6 percent in the last 12 months.
In three years, Fibra Uno has taken its initial portfolio of 17 properties with a leasable area of 475 thousand square meters, 416 buildings with an area of 5.2 million square meters, resulting in triple digit annual growth in net income and operating performance up to 69 percent of its securities (including dividends paid) in 2012.
Other factors that make it more profitable dividends Fibras are interest rates and inflation.
Luis Gutierrez, Prologis president for Latin America, said the country risk is higher in Mexico than in other countries, like the U.S., where interest rates long term hovering below 3 percent in Mexico and levels exceed 7 percent.
Arellano said the spread between yields and interest rates in REITs is much lower than that of the fibras, making them more attractive to international investors.
“They are instruments that provide ‘yield’ and in an environment in which the investor is looking for a general performance with relatively low risk, the fibers have become very attractive and attract much foreign investment,” said the director of Evercore.
This was observed in the recent follow-on Fibras One in the BMV, where 60 percent of the paper was in the hands of foreign investors, said Roberto Solano, an analyst at Monex. Despite higher dividend yields of the fibers, the performance of its securities in the market has been punished in recent months.
Holiday in Buenos Aires rose 25 percent last year, below inflation in Argentina’s capital during the same period, from 39.5%, according to official data, but landlords and settings locatorios agree to not affecting the supply of housing.
According to the Law of Rentals, values must be kept fixed for 24 months or 36 months for housing trade contract, but “there is a relevance to what the law says with an inflationary situation, so the market found a formula that is agreed for global lump sum, ie, secured by a fixed total amount of 24 months total, but while adjustments are agreed from the seventh month, and instead of a year, which was what was being done, it is updated every six months, “explained José InfobaeTV Rozados, director of Real Estate Report, in dialogue with Luis Novaresio.
Thus inflation is seeking to cover for the contract deal for both parties: the tenant who can pay, and the landlord so you can have an income.
“In a lease, the logic is that to keep it, you must agree to both sides, one for live and the other to supplement their income or other needs. Common sense is basic to the lease for that people can get a room, “said the expert.
“Today’s rental market is generally balanced. One can say that in the neighborhoods where they built increased supply and demand, but lack good deal in the southern suburbs. When you leave a good property quickly rented. That makes prices tend to be equated with what can be in Chacabuco Parque Palermo and another in the northern corridor, “said Rozados.
The director indicated that Real Estate Report “for market garages warns a structural problem, because there is a mismatch between the amount of parking available and the number of cars, so they imposed increase the supply of parking spaces is namely the question goes through planning, to address a sensitive issue for the City. “
July 2, 2014
The International Business Centre and Exhibition Bogota Corferias-and-Real Estate Association of Bogotá are ready to offer the public the largest real estate showcase of Colombia and one of the largest in the continent, the eighth version of the Great Real Estate Exhibition. This event seeks to establish itself as the ideal solution for real estate business platform, through the presentation of new and safe investment opportunities, an excellent range of projects of new and used construction, and related services sector.
Attendees will enjoy five days of a space in which you will find options to acquire or lease new and used housing, investing in real estate, financial services and meet regional real estate, and to establish business contacts.
In October this year will be the eighth edition of the event which aims to increase its average of exhibitors and visitors. So this time around 3,900 square meters of exhibition grounds were arranged to cover as nearly 130 national and international exhibitors presenting their commercial offers to 21,000 attendees are expected to visit the fair to learn everything related to the current industry.
The beautiful architecture, the authenticity of their designs and leafy streets always go together to determine how to be beautiful and attractive neighborhood. According to a Travel and Leisure list these are the most beautiful neighborhoods throughout the country, where the classic, urban and modern mix to the delight of those who go to these places. Which of these neighborhoods you want to live?
Brooklyn Heights, New York City Next to Brooklyn Bridge is the historic and quiet neighborhood of Brooklyn Heights, known for offering some of the most spectacular views of Manhattan. This neighborhood is embellished by its reddish condominiums and stately homes dating back to before the Civil War, as well as its leafy streets.
Pacific Heights, Pacific Heights San Francisco Victorian houses stands as the largest number of these architectures in the city. The Pacific Heights neighborhood retains the same appearance before the earthquake and fire of 1906. Walking through its streets you can see the Golden Gate and Alcatraz. Pacific Heights is situated on a hill that rises abruptly from the Marina District and Cow Hollow neighborhood in the north of San Francisco, at a height of 370 feet above sea level.
Garden District, New Orleans For all who enjoy the “good life” is a good place in the south of the nation. Garden District is located in New Orleans, where even the trams transport it for $ 1.25, and as the name says is a neighborhood whose homes have large gardens. A slight elevation of the surface has protected the mansions of hurricanes for almost 200 years.
The Paseo, Oklahoma This is a thriving area artists who was rescued from gang wars and prostitution in mid-century. The ride became what it is today when dozens of artists decided to move to the area taking advantage of low property prices. About 20 galleries, two schools for creative students and annual arts festival inspired Forbes to name it in their list of “America’s neighborhoods more processed”.
South of Broad, Charleston is a historic district that extends over a sheet with an abundance of vegetation. On a tour of this district can be seen with multilevel brick buildings, streets are adorned with trees on both sides whose branches extend from side to side, palms and many flowering gardens. Many homes are older than 300 years retaining the influence of the West Indies.
Hancock Park, Los Angeles, Beverly Hills is one of the most renowned venues in Los Angeles in the world. But there is a neighborhood that is beginning to interest tourists. Hancock Park is a sector with 1,200 homes as Travel and Leisure invites exploration. The famous Hollywood sign is visible from many streets. The Queen Anne residence of colonial Renaissance style was moved to this place in June 1924 and today is the architectural seal area.
Oak Park, Western Chicago West of Chicago are 23 homes that are works of Frank Lloyd Wright, who combined modesty and elegance in their designs. Lloyd Wright spent 20 years of his 70-year career at Oak Park. Also distinguished for its beautiful scenery, Oak Park, is the birthplace of writer Ernest Hemingway.
Charles Village, North-Central structures are painted in bright colors that distinguish them from other areas in the country. Also combine the style of the nineteenth century with the common style of Baltimore which includes many gardens and wide avenues. In short it is a very colorful neighborhood with many trees which you could easily be happy.
Back Bay, Boston Representative of rooms and Victorian houses built in stone with windows, streets with luxury shops and artistic (like those found on Newbury Street), and large hotels. The design of the city was given by Arthur Gilman and is located on the peninsula of Shawmut.
Montrose, Houston is a residential neighborhood located in Neartown Houston. Founded in 1911, the neighborhood is a demographically diverse area with renovated mansions, bungalows with spacious terraces and cottages along boulevards with abundant trees. Montrose is one of the most pedestrian-friendly neighborhoods in Houston.
June 23, 2014
The Canadian retiree Sheldon Kovensky tempted these days attracts many foreign buyers to sunny Florida: Falling prices of luxury oceanfront condos to buy at a good price, taking advantage of a weak U.S. dollar.
Kovensky has been touring southern Florida, from Miami Beach to Palm Beach, looking for an apartment of three rooms on the beach.
Armed with a Canadian dollar in the past two years has risen 25 percent against the U.S. dollar, expect to find a good bargain.
“We hope to find an apartment worth nearly one million dollars (U.S.) which can be purchased for 20 percent less,” he said in a telephone conversation from his home in Unionville, Ontario, as he prepared to clear snow that left a storm .
“The Canadian dollar is stable and the Florida market has fallen from 20 to 30 percent, so that you can make a good bargain with our money,” he added.
Realtors, buyers and analysts say the strong Canadian dollar, the euro and other currencies, with the fall of the housing market, make America a tempting place for foreigners looking to buy property.
In fact, they argue that the combination of the weak dollar and the attraction of Miami as a cosmopolitan and multilingual city may be helping sustain faltering and excessive condo market, where prices are expected to plummet, but so far have shown only a slight decline compared to other cities in Florida.
In a study by the National Association of Realtors last year, Florida was the top destination for foreign buyers, accounting for 26 percent of all transactions, up from California with 16, Texas with 10 and Arizona with 6%.
More than 7% of all Florida homes were sold to foreigners, the study found, and 65% of estate agents said they had finalized one agreement with a foreign buyer.
The online real estate auction site in December FastHomeAuction.com recorded a record number of foreign visitors, citing the weak dollar as a key factor.
OVERSEAS BUYERS PARTY
Jan de Vetten, Dutch wholesaler of toys has assembled a side business helping friends and business partners to buy homes in Florida, said that in some cases have been able to negotiate the purchase of houses for half the price.
“I traded Typically 25 to 30 percent less than asking price and the euro is now nearly a dollar and a half, so that will probably make another 10-15 percent in value,” he said.
Purchases by foreigners also noted strong activity in Arizona, New York and elsewhere.
In New York, the median sales price in Manhattan climbed to a record $ 1,439,909 in the fourth quarter of last year, thanks to foreign buyers boosted demand.
In Phoenix, Canadians are buying what for them would be a second home, most exclusive homes on golf courses as a refuge from the harsh winter, according to the officials said. Many come from Calgary, the Canadian city of rapid growth thanks to oil.
“There’s definitely Canadian money in the city,” said Julie Goodman a Remax agent who said he sold six houses and was waiting four other families to visit several properties. “They pay cash and know that cash talks.”
After the U.S. housing market reached its peak in 2005 and reached the crisis of subprime mortgages, sales and prices began tumbling across Florida. The worst was felt in west coast cities like Punta Gorda, where condo sales fell 50%, and in Fort Myers, where the average price of an apartment fell 21% in 2007.
While sales fall Miami -39% for single-family resale homes and 41% for condominiums-, median prices remained resilient before finally weaken in December 2007.
For the year, the median condo price in Miami rose 6%. But analysts expect a fall in the coming months, once thousands of new condo units entering the market.
SOUTH BEACH WITH POOL
The weakness of the U.S. dollar, according to agents, attracts buyers from Europe, Scandinavia and Canada to Miami, in addition to the traditional flow of money volatile economies of South American countries, particularly Venezuela.
A strong pound has made the UK seek properties outside its traditional territory of Orlando, said Vani Ungapen, Research Director of the Foundation for Florida Realtors.
“Most of them buy homes at the highest level,” said the agent. “Looking for a big house with a pool and that can not be bought in London.”
Agents say that the famous South Beach district of Miami Beach attracts Italian, French and German; Russians go to Sunny Isles Beach to the north; Venezuelans who may fear the policies of socialist President Hugo Chavez bought in Doral, west.
The real estate agent Benichay Brigitte said French middle-class entrepreneurs are eager to join the 30,000 members of the French community in Miami and open businesses in the city.
“They’re paying cash because of the strength of the euro,” he said. “80% of those who know they want to pay in cash. Business is very strong.”
The Beacon Council, the business development agency of Miami, said that more and more foreign businesses established in the city.
The number of multinational projects in which the council has virtually doubled in five years work, and these companies bring employees who are interested in buying property.
“The economic market here is very broad. Already we stop relying on one industry, such as tourism, or a region such as Latin America,” said President Frank Nero
Despite the explosive price increases in recent years, Nero said prices may seem low for someone from Paris or Madrid.
CONSUMIAMI During 2014, several real estate specialists claimed that the projection of the Miami market will continue to rise.
The Real State in the state of Florida is one of the sectors that generate dividends. This was stated Lynda Fernandez VP. Public Relations Miami Realtors. “The furniture market in Miami has recovered faster than thought., After the crisis of 2008.”
At that time the lower house sales fell by over 75 percent. “Although today the reality is totally different and is that sales quickly recovered by foreign investment. Indeed, on average a home today is located in approximately 60 days.
The city of Miami is ranked No. 2 ranking property sales in the United States and holds the 3rd place as the most populous Dowtown.
Meanwhile, Miguel Correa, Consultant and Director of Miami District, began claiming that intervention: “According to surveys, 75 percent of the buildings in Brickell are sellers, which shows that the market in Miami, is growing rapidly and producing millions of dollars. ”
Correa said the Downtown Miami currently has 200 thousand inhabitants and in many cases foreign investors rent their properties, and is based on the habitability of housing census has been carried out which yielded this figure.
Finally, the experts agreed that Venezuela and Brazil are the countries providing the largest number of foreign investors to South Florida.
June 19, 2014
By region, the largest decline was recorded in new homes in the west, with a reduction of 15.2%, and in the south, with a decline of 7.3%.
Construction of new U.S. homes fell 6.5% in May to stand at an annual rate of one million units, according to the Commerce Department reported today.
Permits for new construction, an indicator of longer-term trend suggests that the evolution of the housing market, fell 6.4% to settle at an annual rate of 991,000 units, the slowest pace in four months.
These data are slightly lower than expected by analysts and show the slow recovery of the U.S. housing market after the profound crisis of 2008.
The beginnings of new homes fell in both the townhouses and apartment buildings segment.
By region, the largest decline was recorded in new homes in the west, with a reduction of 15.2%, and in the south, with a decline of 7.3%.
On the contrary, slight improvements in the Northeast and Midwest United States were recorded.
June 14, 2014
No espectacularidades, the construction market states, according to statistics from the U.S. government.
The Commerce Department reported that early work and building permits in April reached the highest rate for six years.
The early work rose 26.4% year to a rate of 1,070,000 units per year; exceeding the consensus forecast of economists of 980,000 units.
The construction and sale of new residential buildings in the city center of Miami ( “downtown ” ) continues to rise, driven by strong demand from international buyers , especially in Latin America.
Proof of activity in the housing sector that lives next urban center is building 25 new condo buildings , today told Efe industry sources.
According to the Directorate of Construction Center Miami (DDA , for its acronym in English ) of the 23,000 condos built in the “downtown ” during the “boom” of the building less than five hundred is still for sale , so it drives substantially the building and development of new real estate projects.
The real estate agent Alicia Cervera Lamadrid, managing partner of Cervera Real Estate , believes the demand for residential property in Miami has reached its ” peak ” .
According to the real estate company Keyes, the average price of condominiums increased by 41 % since 2010 and the inventory was reduced by 53%.
” The Miami real estate market is hot again . ‘s , Particularly in Latin America , along with declining inventory of condos for sale , strong demand from international buyers has prompted the launch of several new projects,” he explained Efe Cervera.
The company Cervera Miami condos sold for a total value of 1,000 million dollars in 2012 .
For the entrepreneur, the fact of having achieved so much success in unit sales of “high quality ” is a ” testament to the strength of the Miami real estate market .”
Clear sign of the revitalization of this market is the presence of numerous property developers interested in building , such as the Asian Swire Properties , which is raising the Brickell CityCentre shopping center, 56,000 square feet , will house luxury shops.
Also, this week went on sale condominiums of four new luxury residential towers to be built in the city center.
Analysts had predicted that it would take between 10 and 15 years to sell the large inventory of properties that had accumulated when the housing bubble burst in 2008, which precipitated the sharp fall in sales.
However, the high demand by European and especially Latin American buyers , with Brazil and Argentina Venezuelsa to the head, has revitalized the Miami real estate market.