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Moscow's Housing Prices Remain Extremely Unbalanced Relative to Consumer Incomes

Moscow's Housing Prices Remain Extremely Unbalanced Relative to Consumer Incomes

Posted by Michael Gerrity 03/19/10 2:16 PM EST

(MOSCOW, RUSSIA) -- Despite the global financial crisis and a sharp drop of the Russian GDP, Moscow is still in the top five of the world's most expensive cities in terms of average prices for luxury properties, according to a recent report carried out by the analysts of the Russian consulting agency Chesterton. Read More

US Markets

Residential Real Estate News

  • San-Lorenzo-Condo-Tower-Miami-Florida.jpg

    Miami Condo Tower Goes to Auction, Starting Bids at $63 Per Foot, 71% Below Replacement Cost

    Posted by Michael Gerrity 03/17/10 10:37 AM EST

    (MIAMI, FL) -- After two years without a sale, a Miami condo developer is taking 62 units in a new tower to auction at an average starting price of $63 per square foot, which is about 71 percent below replacement cost, Read More

  • Mortgage Applications Dip 1.9% This Week

    Posted by Michael Gerrity 03/17/10 9:49 AM EST

    (WASHINGTON, DC) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 12, 2010.  The Market Composite Index, a measure of mortgage loan application volume, decreased 1.9 percent on a seasonally adjusted... Read More

  • One in Two Florida Homes with a Mortgage Now Underwater

    Posted by Michael Gerrity 03/17/10 9:25 AM EST

    (ORLANDO, FL) -- According to a recent report by Santa Ana, California based First American Corelogic, Florida now has the third-highest percentage of homes with negative equity as of February 2010.Negative equity is often referred to as "under water" or... Read More

  • Trump-Soho-New-York-City.jpg

    New York City's Trump Soho Now Set for April Opening

    Posted by Kevin Brass 03/16/10 1:52 PM EST

    (NEW YORK, NY) -- Trump Soho, the controversial New York condo-hotel, is definitely, absolutely, we-really-mean-it-this-time set to open in April. A few months ago management indicated the oft-delayed tower would open in February, but that didn't happen. Read More

  • David A. Crowe, NAHB.JPG

    NAHB Says Single-Family Starts Holding Firm in February

    Posted by Michael Gerrity 03/16/10 1:43 PM EST

    David Crowe (WASHINGTON, DC) -- The pace of single-family home production remained virtually unchanged in February, with a 0.6 percent decline to a seasonally adjusted annual rate of 499,000 units, according to figures released today by the U.S. Commerce Department.... Read More

Vacation & Leisure Real Estate News

Commercial Real Estate News

International Markets

Residential Real Estate News

  • In Dubai, When is a Project 'Dead'?

    Posted by Kevin Brass 03/18/10 8:00 AM EST

    (DUBAI, UAE) -- After years of promising reforms in the property business, the Dubai government is wrestling with how and when to declare a development dead. For buyers and developers, it's more than an academic discussion. Investors can't move to get their money back until a project is officially cancelled, something developers are rarely in a rush to do. Read More

  • EB-5 Visa Program Sparking Foreign Real Estate Investor Activity

    Posted by Kevin Brass 03/16/10 8:00 AM EST

    (AUSTIN, TX) -- After languishing in obscurity for 20 years, the EB-5 visa program is suddenly a hot commodity in the U.S. real estate business. "There's massive interest compared to a few years ago," said Stephen Parnell of WhichEB5, a consultancy that started as a relocation service and now focuses almost exclusively on EB-5 visas. Read More

  • Nicaragua-Coastline.jpg

    Do Golf Courses Really Sell Second Homes?

    Posted by Kevin Brass 03/15/10 12:01 PM EST

    (Managua, Nicaragua) - Talking to Nicaragua developer Kevin Fleming the other day, the subject turned to golf--specifically the value of golf in a modern second home resort. Plans for Fleming's 923-acre Seaside Mariana Spa and Golf Resort include a Jack Nicklaus Signature course, Read More

  • Trump-Ocean-Club-Panama.jpg

    New Sales Data on Trump Ocean Club Panama

    Posted by Kevin Brass 03/10/10 11:13 AM EST

    (PANAMA CITY, PANAMA) -- Despite concerns of widespread defaults, only 11 buyers have walked away from their purchases in the Trump Ocean Club in Panama, the project's longtime sales director says. Read More

  • Russian Oligarch Loses Record $53 Million Deposit on French Riviera Estate

    Posted by Kevin Brass 03/10/10 10:58 AM EST

    (VILLEFRANCHE-SUR-MER, FRANCE) -- A French court this week refused to return a Russian oligarch's $53 million deposit on a French Riviera estate, which is believed to be the world's most expensive property. Read More

Vacation & Leisure Real Estate News

  • Qi-Ji-Shanghai-hotelier.jpg

    China Lodging Group Plans $127 Million IPO

    Posted by Alex Finkelstein 03/17/10 1:24 PM EST

    (SHANGHAI, CHINA) -- China Lodging Group Ltd (NASDAQ (GM): HTHT) plans an initial public offering of 9 million American Depositary Shares valued at US .0001 per share, with an estimated value of $127 million, Read More

  • Omar-Al-Jaroudi-3-16-10.jpg

    Shuaa Capital in Booming Saudi Arabia Plans $133 Million Hotel in Jeddah

    Posted by Alex Finkelstein 03/17/10 10:03 AM EST

    (DUBAI, UAE) -- Sitting on a $500 million development chest, Shuaa Capital's (SHUA.DU) Saudi Arabian unit is beginning its acquisition march, even as most of the world continues to struggle with a deflated economy. Read More

  • Saudi Prince Plans $843 Million Buyout of Dubai Hotel Investment Firm

    Posted by Alex Finkelstein 03/17/10 8:00 AM EST

    (DUBAI, UAE) -- Big-money deals continue to float in Saudi Arabia. Kingdom Holding Company (KHC), chaired by Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, announced today Kingdom 5-KR-211, Ltd. plans to acquire all of the 44% total outstanding shares ... Read More

  • Britain's Whitbread Buys Out Dubai Partner

    Posted by Alex Finkelstein 03/16/10 2:00 PM EST

    (LONDON, ENGLAND) -- Whitbread, Britain's biggest hotel and coffee shop operator, has bought out its Indian joint venture partner Emaar MGF of Dubai. Specific terms of the deal were not immediately disclosed, according to City.Aim, a London online publication."Whitbread confirms... Read More

  • Kapalua-Resort-Map.jpg

    Maui Land & Pineapple Company Still Seeing Red

    Posted by Alex Finkelstein 03/11/10 9:00 AM EST

    Kapalua Resort, Maui (KAHULUI, HAWAII) -- There aren't too many golden sunsets around Maui Land & Pineapple Co. (NYSE:MLP) these days.The land, resort and agriculture company reported a $30.4 million net loss for fourth quarter 2009 ($3.76 per share) -... Read More

Commercial Real Estate News

  • GLOBAL REALTY CAPITAL MARKET ROUNDUP

    Posted by Alex Finkelstein 03/12/10 8:00 AM EST

    (NEW YORK, NY) -- Cushman & Wakefield research predicts global commercial real estate deals will rebound by 30% this year. Deals are expected to reach a total $478 billion. The U.S. is forecast to post the biggest percentage rise in sales, with China in No. 2 position. "With many U.S. investors sitting on a lot of cash after the recapitalizations, equity raises and inward investment flows of last year, ... Read More

  • Government Infrastructure Projects Driving Development in Arab GCC Countries

    Posted by Alma Kadragic 03/11/10 11:39 AM EST

    (ABU DHABI, UAE) -- Governments across the Gulf Cooperation Council (GCC) countries are keeping construction alive say the organizers of CityBuild, a new trade show for the region's building and construction industry. It takes place from April 18-21 at the Abu Dhabi National Exhibition Centre ... Read More

  • Dubai-Festival-City-Marina.jpg

    Mourjan Marinas IGY Signs Deals in Bahrain and Dubai

    Posted by Alma Kadragic 03/11/10 10:47 AM EST

    (DUBAI, UAE) -- Taking its success in Dubai and elsewhere to Bahrain, Mourjan Marinas IGY signed a Memorandum of Understanding with Global Real Estate Development Co. (GREDCO) to develop two marinas in the Kingdom of Bahrain. Read More

  • Emaar-Industries--Investments-celebrates-opening-of-new-plant-by-Dynergy-Technologies-2.jpg

    Emaar Industries and Investments Opens State of the Art Manufacturing Plant

    Posted by Alma Kadragic 03/11/10 10:03 AM EST

    (DUBAI, UAE) -- Emaar Industries & Investments (EII) has opened a state-of-the-art manufacturing plant for low voltage and medium voltage switchboards for its subsidiary Dynergy Technologies in TechnoPark, Dubai. Read More

  • Warsaw-Poland.jpg

    Polish Commercial Real Estate Market on Brink of Recovery in 2010

    Posted by Michael Gerrity 03/10/10 2:35 PM EST

    (WARSAW, POLAND) -- The value of transactions closed in the Polish commercial real estate market this year may exceed 2 billion euros, according to new estimates by Cushman & Wakefield, Read More

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U.S. Mortgage Rates Current Rate Last Week
30 yr. Fixed 5.04% 5.00%
15 yr. Fixed 4.35% 4.35%
5/1 ARM 3.92% 3.94%

Source: Bankrate.com

U.S. Housing Stats Month of (January 10) Previous (December 09)
Existing Home Sales (Annualized Rate) 5.05m 5.45m
Existing Home Prices (Median) $164,700 $173,500
Existing Home Inventory (all U.S.) 3.27m 3.29m
Existing Home Supply (Months) 7.8 7.2
New Home Sales (Annualized Rate) 309,000 342,000
New Home Prices (Median) $203,500 $221,000
New Home Inventory (all U.S.) 234,000 231,000
New Home Supply (Months) 9.1 8.1
Building Permits (Single Family) 507,000 508,000
Housing Starts (Single Family) 484,000 456,000
Housing Completions (Single Family) 427,000 503,000
Pending Home Sales Index (PHSI) 90.4 97.8

Source: NAR & U.S. Commerce Department

U.S. Foreclosure Stats Month of (January 10) Previous (December 09)
Residential Filings 315,716 349,519
Year Over Year % Change 31% 15%

Source: RealtyTrac

U.S. Hotels & Resorts
(By Segment | Jan '10)
Occupany Rates Avg. Daily Rates (USD)
Luxury   57.2%
$237.22     
Upper Upscale   56.1%
$134.90     
Upscale   53.1%
$102.21     
Midscale with Food & Beverage   37.4%
$75.99     
Midscale without Food & Beverage   44.4%
$80.10     
Economy   40.0%
$45.08     
Independents   42.5%
$91.51     
TOTAL U.S.   45.1%
$93.93     

Source: Smith Travel Research / STR Global

International Hotels  (By Region | Jan '10) Occupany Rates Avg. Daily Rates (USD)
Americas   45.5%
$96.68     
Asia/Pacific   61.0%
$130.75     
Europe   48.2%
$126.67     
Middle East/Africa   54.8%
$170.20     

Source: Smith Travel Research / STR Global

U.S. Office Market Current Qtr.
(Q3 - 09)
Prior Qtr.
(Q2 - 09)
Inventory
(sf in 1000s)
3,562,444
3,546,051
Completions
(sf in 1000s)
16,393
14,602
Absorption
(sf in 1000s)
-5,243
-16,239
Vacancy Rate
16.1%
15.5%
Net Asking Rent
($ per sf)
19.02
19.09

Source: CBRE Econometric Advisors

U.S. Industrial Market Current Qtr.
(Q3 - 09)
Prior Qtr.
(Q2 - 09)
Inventory
(sf in 1000s)
13,007,089
12,992,248
Completions
(sf in 1000s)
14,841
16,803
Absorption
(sf in 1000s)
-53,647
-79,440
Vacancy Rate
13.5%
13.0%
Net Asking Rent
($ per sf)
5.84
5.94

Source: CBRE Econometric Advisors

U.S. Retail Market Current Qtr.
(Q3 - 09)
Prior Qtr.
(Q2 - 09)
Inventory
(sf in 1000s)
1,656,133
1,652,630
Completions
(sf in 1000s)
3,503
3,433
Absorption
(sf in 1000s)
-1,253
-4,954
Vacancy Rate
12.2%
11.9%
Net Asking Rent
($ per sf)
21.92
21.92

Source: CBRE Econometric Advisors

U.S. Multifamily Market Current Qtr.
(Q3 - 09)
Prior Qtr.
(Q2 - 09)
Rentable Inventory
(units)
14,375,789
14,335,757
Rentable Completions
(units)
40,032
55,638
Absorption
(units)
58,362
37,535
Vacancy Rate
7.3%
7.4%
Same-Store Rent
Index ($/unit)
$1,156.21
$1,171.56

Source: CBRE Econometric Advisors

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