The real estate market shows signs of recovery, but it is still early to talk about a hard reset of the sector. Faced with the prospect of a rise in prices, many analysts and experts point out that the amounts will stabilize in the current year (as the Institute of Economic Studies, linked to the body said CEOE) and that in the coming years even could produce 'sudden' increases if the improved economic conditions lead to a recovery in the labor market. For many homebuyers arises, then, a question inevitably: is this the time to buy a home? Is there a risk that they do not re-register such low prices?
This is not the opinion of the consultant RR Acuña & Associates, which holds that housing prices still have ample setback: in his "Statistical Yearbook of the Spanish property market 2014" I expect prices to continue to decline in a range of between 5% and 7% annually over the next three years. Overall, the drop in prices will rise to 21%, which is in addition to lowering properties that have experienced since the bursting of the housing bubble. According to statistics of the Ministry of Development, the housing prices have fallen by 30.56% from the highs of 2008.
The most significant reason is, according to the president of the consulting firm, Fernando Rodríguez y Rodríguez de Acuña, the remaining unsold. Acuña is probably the expert believes that this 'stock' has a higher weight: consider that there are still 1.7 million unsold homes, although their distribution throughout the Spanish territory is uneven.
Acuña & Associates believes that in areas with higher population density and demand for second homes, such as Madrid, Alicante and Malaga the "stock" will be removed in the next two or three years. The influence of foreign demand for housing and the gradual improvement of the conditions for granting of credit will be sufficient to sustain the recovery in the sector, according to this society. How the rise of trades in recent months then explain? "Sell that sells cheaper," explained the head of Acuña, quoted by Ep.
Instead, Yes there was a slight "change in trend" which has allowed it to begin to correct some of the Spanish property market imbalances (such as mortgages), but all signs point to "very slow" reduction "stock" and thus, a recovery in slow motion in the long term.
The study expected in 2016, to rebound until operations 332,000 operations. Meanwhile, awards and payments in the fall to 59,000. Meanwhile, the remainder of unsold homes will be reduced by 155,000, to the 1,572,000 homes.
Thursday, June 26, 2014
Monday, June 23, 2014
Miami developers promise to investors for rental income of 5% per annum
The uncertainty in the Argentine real estate market forces many local investors assess alternatives outside borders. And in that menu, Miami has become one of the favorite dishes.
Developers operating in this market know that situation and that is why more and more are coming into the country to offer their products.
For instance, US-based Related Group, owned by Argentine businessman Jorge Perez just introduced in the country, through the chairman of the Division of Condominiums, Carlos Rosso, a series of ventures that will open in mid-2016. "Are each Argentine increasingly looking to invest in the Miami real estate market, "confirms Rosso.
One of the proposals is Brickell Heights; is a two-tower condominium with over 690 residential units, located at 850 South Miami Avenue. "More and more investors buying departments to hire them, not to go live. These investments allow a 5% annual return, plus appreciation of good, "explained the representative of the firm. The square meter in one of these homes costs $ s4.000.
In the local market rent is similar but in pesos.
The second proposal is Hyde Beach. "We invented a way to sell a little different, where people can buy an apartment, but with the option to rent per day when not in use. In this case, there is a hotel company which will manage the rental pool, told the businessman. Thus, a person can acquire an apartment and to use it as long as you want and the rest of the days rent. With this income the owner can cover costs and also getting a return on your investment. The prices for these units, fully equipped, ranging from USD $ 5000 and the $ s6.000/m2.
The purchaser of a property has to know that the above price includes rental service per day with the company to find its position and fully furnished condos.
The third project in dance is Paradise Bay. Located just five minutes from the new Brickell CitiCentre complex will consist of two towers with 345 residences from 1 to 4 bedrooms, "all with a panoramic view with a value of $ 4,200 per m2" said Rosso. Among the international figures that his department already assured Paradise Bay is sportsman Argentine Manu Ginobili, Arantxa Sánchez Vicario and international DJ, David Guetta.
Miami is still a very expensive city to rent compared to the rest of the United States. The values in round vacation in $ 1,600, which means a third of what it costs in Chicago or New York half.
The real estate developer, since its founding in 1979, has completed 80,000 departments. Besides construction in Miami, the company raises modern buildings in Brazil, Mexico, Uruguay, Colombia and Panama.
Fall in property prices
The average price of a home in the City of Buenos Aires increased 54.6% in dollars and 8% in dollars between late January and March 2013, while the sale of new or used property continues to be depressed, according to the Association of Notaries City of Buenos Aires.
The amount of deeds of sale of properties in Capital fell 53.7% in January compared to last December and 0.8% compared to January 2013. 2,027 events were recorded.
Developers operating in this market know that situation and that is why more and more are coming into the country to offer their products.
For instance, US-based Related Group, owned by Argentine businessman Jorge Perez just introduced in the country, through the chairman of the Division of Condominiums, Carlos Rosso, a series of ventures that will open in mid-2016. "Are each Argentine increasingly looking to invest in the Miami real estate market, "confirms Rosso.
One of the proposals is Brickell Heights; is a two-tower condominium with over 690 residential units, located at 850 South Miami Avenue. "More and more investors buying departments to hire them, not to go live. These investments allow a 5% annual return, plus appreciation of good, "explained the representative of the firm. The square meter in one of these homes costs $ s4.000.
In the local market rent is similar but in pesos.
The second proposal is Hyde Beach. "We invented a way to sell a little different, where people can buy an apartment, but with the option to rent per day when not in use. In this case, there is a hotel company which will manage the rental pool, told the businessman. Thus, a person can acquire an apartment and to use it as long as you want and the rest of the days rent. With this income the owner can cover costs and also getting a return on your investment. The prices for these units, fully equipped, ranging from USD $ 5000 and the $ s6.000/m2.
The purchaser of a property has to know that the above price includes rental service per day with the company to find its position and fully furnished condos.
The third project in dance is Paradise Bay. Located just five minutes from the new Brickell CitiCentre complex will consist of two towers with 345 residences from 1 to 4 bedrooms, "all with a panoramic view with a value of $ 4,200 per m2" said Rosso. Among the international figures that his department already assured Paradise Bay is sportsman Argentine Manu Ginobili, Arantxa Sánchez Vicario and international DJ, David Guetta.
Miami is still a very expensive city to rent compared to the rest of the United States. The values in round vacation in $ 1,600, which means a third of what it costs in Chicago or New York half.
The real estate developer, since its founding in 1979, has completed 80,000 departments. Besides construction in Miami, the company raises modern buildings in Brazil, Mexico, Uruguay, Colombia and Panama.
Fall in property prices
The average price of a home in the City of Buenos Aires increased 54.6% in dollars and 8% in dollars between late January and March 2013, while the sale of new or used property continues to be depressed, according to the Association of Notaries City of Buenos Aires.
The amount of deeds of sale of properties in Capital fell 53.7% in January compared to last December and 0.8% compared to January 2013. 2,027 events were recorded.
Friday, June 20, 2014
Renting an apartment in Miami represents 50% of an average household income
As Secretary of Housing and Urban Development United States, Shaun Donovan says "is the worst crisis ever in the rental market." From January to March, the payment of rent went assume 23% to 47% of revenue, a study center analysis 'Zillow', specializing in real estate. The national average is 30%.
This is particularly worrying for new immigrants or employees of companies that have been installed in South Florida, particularly those whose companies do not subsidize them accommodation.
The worst is that there is no solution in sight and the margin will continue to rise, experts agree, because the increase in rents is due to stagnation of property values. Spaces are bought as an investment and its owners, also arms with the crisis, want to recover the money invested and that affects the tenant.
There is another factor to be a critical stage in south Florida. The number of houses and apartments for rent has decreased dramatically, the construction industry is almost paralyzed and with each passing day there are fewer places to live in rented Miami, a metropolitan area that admitted an average of 300 families per week, trying installed in a state where, despite everything, the cost of living is one of the cheapest in the country.
An alternative, though precarious, is installed outside of Miami, even in an adjacent county, but even in these cases is not cheap but will save on a holiday since commuting costs soar because Florida has no transport infrastructure developed public and the private car is the common way to go to work, resulting in fuel and maintenance costs.
"The rent increase was much that I had no choice but to go live with a friend.'ve Been living only rented for 11 years, and I can no more," he told the newspaper The Miami Herald, Arthur Breton, manager a department store.
According to official data, most of the apartments for rent that have flooded the market in the last year belong to foreigners who have purchased as an investment property, own not even live in the U.S. and deliver the property management to a specialized company.
On the other hand, buying a property to live in it does not seem to be a viable alternative for many. If a decade ago banks were generous in lending and fixed monthly benefit at acceptable levels, since the real estate bubble burst, financial institutions are forcing customers to pay tickets 20% or 30% of the value of property. And no matter what your business can fit into potential incentives to support the purchase of homes approved by the administration of Barack Obama.
"It's a tough situation. Let's see how the next two to three years for young people will be very difficult to achieve independence from parents and retirees will start having to leave their homes or apartments because pensions are not enough" WORLD anticipates, real estate analyst, Samuel McCaine.
This is particularly worrying for new immigrants or employees of companies that have been installed in South Florida, particularly those whose companies do not subsidize them accommodation.
The worst is that there is no solution in sight and the margin will continue to rise, experts agree, because the increase in rents is due to stagnation of property values. Spaces are bought as an investment and its owners, also arms with the crisis, want to recover the money invested and that affects the tenant.
There is another factor to be a critical stage in south Florida. The number of houses and apartments for rent has decreased dramatically, the construction industry is almost paralyzed and with each passing day there are fewer places to live in rented Miami, a metropolitan area that admitted an average of 300 families per week, trying installed in a state where, despite everything, the cost of living is one of the cheapest in the country.
An alternative, though precarious, is installed outside of Miami, even in an adjacent county, but even in these cases is not cheap but will save on a holiday since commuting costs soar because Florida has no transport infrastructure developed public and the private car is the common way to go to work, resulting in fuel and maintenance costs.
"The rent increase was much that I had no choice but to go live with a friend.'ve Been living only rented for 11 years, and I can no more," he told the newspaper The Miami Herald, Arthur Breton, manager a department store.
According to official data, most of the apartments for rent that have flooded the market in the last year belong to foreigners who have purchased as an investment property, own not even live in the U.S. and deliver the property management to a specialized company.
On the other hand, buying a property to live in it does not seem to be a viable alternative for many. If a decade ago banks were generous in lending and fixed monthly benefit at acceptable levels, since the real estate bubble burst, financial institutions are forcing customers to pay tickets 20% or 30% of the value of property. And no matter what your business can fit into potential incentives to support the purchase of homes approved by the administration of Barack Obama.
"It's a tough situation. Let's see how the next two to three years for young people will be very difficult to achieve independence from parents and retirees will start having to leave their homes or apartments because pensions are not enough" WORLD anticipates, real estate analyst, Samuel McCaine.
Monday, June 16, 2014
Cai confidence builders houses U.S.
Confidence among home builders in the U.S. unexpectedly fell in May to its lowest level in a year, said Thursday the National Association of Home Builders (NAHB, for its acronym in English).
The Housing Market Index NAHB / Wells Fargo gave to 45 in May from a downward revision of 46 April, the group said in a statement.
Economists polled by Reuters predicted that the indicator would pick 49 in May.
The Housing Market Index NAHB / Wells Fargo gave to 45 in May from a downward revision of 46 April, the group said in a statement.
Economists polled by Reuters predicted that the indicator would pick 49 in May.
Friday, June 13, 2014
The long road to recovery in the U.S.
It's June 2014, and that means it's been five years since the Great Recession officially ended in the United States. If you do not feel in the mood to celebrate this milestone, you're not alone.
Most Americans still rate the economic situation as "bad" and for good reason: The job recovery is the slowest in history, wages have barely risen, house prices are still below their peak and More Americans than ever are using food stamps.
The ordinary people do not feel the recovery because, frankly, has not reached to them.
So how long will the healing process? Economists surveyed by CNNMoney expect a full recovery is still two or three years away.
"The labor market is the scar of the economy that has persisted since the Great Recession, the financial and real estate crisis. May be disappearing, but it is still clearly visible and will remain so in the coming years, "notes Sean Snaith, an economics professor at the University of Central Florida.
This is what America has come: Technically, the Great Recession ended in June 2009 This was determined by the National Bureau of Economic Research, an independent group responsible for officially set the beginning and end of economic cycles from economists. 1920s.
Why choose that date? In essence, then, 2009 was when the bleeding stopped and began the slow process of healing. After that point, the economy began to rebound. Auto sales began to rise, and the slowdown in the manufacturing sector ended. The housing prices bottomed out and eventually began to climb again, and the stock market came back to life.
Today, five years later, the economy and the stock market in the United States are at historic highs. States such as North Dakota and Texas are benefiting from energy-related boom. Jobs in the health sector continue to grow, and are also regaining professional positions in offices. There are also more low-wage jobs in restaurants and bars.
But the recovery is far from advancing at a rapid pace. Was rather a long, slow march, and this is the key component is missing: The labor market in general.
Why is the country has not fully recovered? Overall, the U.S. economy lost 8.7 million jobs in the recession, half of whom were from blue collar industries like construction and manufacturing. As the housing market collapsed, the states of the Sun Belt region as Nevada, Florida and Arizona suffered the loss of jobs sharper, and today, the labor markets in these states are below their pre-recession peak.
The recovery itself is occurring, but is too slow for many Americans. The economy has not recovered all the jobs lost during the crisis, let alone created new enough to keep pace with a growing population. As of April, about 3.5 million people had been unemployed for six months or more. (That's more than the population of Chicago.)
One of the clearest signs of recovery is the booming stock market, but only half of Americans own shares, either directly or through a retirement account, and for many, the amount is small. Actually, they are the richest households who have benefited from the bull market of five years.
Households earning $ 394.000 or more in 2012 (the richest 1%) accounted for nearly 95% of the income gains in the first three years of recovery, according to economists at the forefront of research on inequality income, Thomas Piketty and Emmanuel Saez. Meanwhile, the income of the remaining 99% remained virtually stagnant.
The housing prices have not recovered yet: For the middle class, the majority of its assets is tied to the value of your home, and the prices of residential real estate have not returned to its peak.
"No wonder that many people feel that the economy is not in good shape," warns James Smith, chief economist at Parsec Financial. "Their incomes are lower than in 2007 or the value of your home is much lower then."
Every American - including children - is worse ($ 4.700 less per year) than it would be if the economy had not entered recession, calculated Lawrence Yun, chief economist of the National Association of Realtors. Of course some are better and others worse, but that's the average loss.
"The gap is still large," Yun holds. "After a recession, as a rule to offset the decline, the economy must grow at 4% to 5% per year." Instead, the economy has grown at a rate of about 2% annually.
Prospects for 2014 are optimistic, many economists predict that the U.S. economy will grow more than 3% this year. That said, even at that rate, a full recovery will take several years.
Most Americans still rate the economic situation as "bad" and for good reason: The job recovery is the slowest in history, wages have barely risen, house prices are still below their peak and More Americans than ever are using food stamps.
The ordinary people do not feel the recovery because, frankly, has not reached to them.
So how long will the healing process? Economists surveyed by CNNMoney expect a full recovery is still two or three years away.
"The labor market is the scar of the economy that has persisted since the Great Recession, the financial and real estate crisis. May be disappearing, but it is still clearly visible and will remain so in the coming years, "notes Sean Snaith, an economics professor at the University of Central Florida.
This is what America has come: Technically, the Great Recession ended in June 2009 This was determined by the National Bureau of Economic Research, an independent group responsible for officially set the beginning and end of economic cycles from economists. 1920s.
Why choose that date? In essence, then, 2009 was when the bleeding stopped and began the slow process of healing. After that point, the economy began to rebound. Auto sales began to rise, and the slowdown in the manufacturing sector ended. The housing prices bottomed out and eventually began to climb again, and the stock market came back to life.
Today, five years later, the economy and the stock market in the United States are at historic highs. States such as North Dakota and Texas are benefiting from energy-related boom. Jobs in the health sector continue to grow, and are also regaining professional positions in offices. There are also more low-wage jobs in restaurants and bars.
But the recovery is far from advancing at a rapid pace. Was rather a long, slow march, and this is the key component is missing: The labor market in general.
Why is the country has not fully recovered? Overall, the U.S. economy lost 8.7 million jobs in the recession, half of whom were from blue collar industries like construction and manufacturing. As the housing market collapsed, the states of the Sun Belt region as Nevada, Florida and Arizona suffered the loss of jobs sharper, and today, the labor markets in these states are below their pre-recession peak.
The recovery itself is occurring, but is too slow for many Americans. The economy has not recovered all the jobs lost during the crisis, let alone created new enough to keep pace with a growing population. As of April, about 3.5 million people had been unemployed for six months or more. (That's more than the population of Chicago.)
One of the clearest signs of recovery is the booming stock market, but only half of Americans own shares, either directly or through a retirement account, and for many, the amount is small. Actually, they are the richest households who have benefited from the bull market of five years.
Households earning $ 394.000 or more in 2012 (the richest 1%) accounted for nearly 95% of the income gains in the first three years of recovery, according to economists at the forefront of research on inequality income, Thomas Piketty and Emmanuel Saez. Meanwhile, the income of the remaining 99% remained virtually stagnant.
The housing prices have not recovered yet: For the middle class, the majority of its assets is tied to the value of your home, and the prices of residential real estate have not returned to its peak.
"No wonder that many people feel that the economy is not in good shape," warns James Smith, chief economist at Parsec Financial. "Their incomes are lower than in 2007 or the value of your home is much lower then."
Every American - including children - is worse ($ 4.700 less per year) than it would be if the economy had not entered recession, calculated Lawrence Yun, chief economist of the National Association of Realtors. Of course some are better and others worse, but that's the average loss.
"The gap is still large," Yun holds. "After a recession, as a rule to offset the decline, the economy must grow at 4% to 5% per year." Instead, the economy has grown at a rate of about 2% annually.
Prospects for 2014 are optimistic, many economists predict that the U.S. economy will grow more than 3% this year. That said, even at that rate, a full recovery will take several years.
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