Goto Loftyvistas Home Page

Archive for November, 2009

Florida’s existing home, condo sales up in October 2009

Monday, November 30th, 2009

ORLANDO, Fla. – Nov. 23, 2009 – Florida’s existing home sales rose in October, marking 14 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®. October’s statewide sales also increased over sales activity in September in both the existing home and existing condominium markets.

Existing home sales rose 45 percent last month with a total of 15,160 homes sold statewide compared to 10,444 homes sold in October 2008, according to Florida Realtors. Statewide existing home sales last month increased 5.1 percent over statewide sales activity in September.

Florida Realtors also reported an 82 percent increase in statewide sales of existing condos in October compared to the previous year’s sales figure; statewide existing condo sales last month rose 6.1 percent over the total units sold in September.

All of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales and higher condo sales in October. A majority of the state’s MSAs have reported increased sales for 16 consecutive months.

Florida’s median sales price for existing homes last month was $140,300; a year ago, it was $169,700 for a 17 percent decrease. Housing industry analysts with the National Association of Realtors® (NAR) note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.

The national median sales price for existing single-family homes in September 2009 was $174,900, down 8.1 percent from a year earlier, according to NAR. In California, the statewide median resales price was $296,090 in September; in Massachusetts, it was $290,000; in Maryland, it was $261,718; and in New York, it was $213,900.

According to NAR’s latest industry outlook, the housing market is continuing its positive momentum. “We’re getting early indications of price stabilization, but we need a steady supply of qualified buyers to meaningfully bring inventories down and return us to a period of normal, steady price growth,” said NAR Chief Economist Lawrence Yun. “That, in turn, would help fully remove consumer fears, which would then revive the broader economy.”

In Florida’s year-to-year comparison for condos, 5,398 units sold statewide last month compared to 2,958 units in October 2008 for an 82 percent increase. The statewide existing condo median sales price last month was $105,200; in October 2008 it was $147,900 for a 29 percent decrease. The national median existing condo price was $175,100 in September 2009, according to NAR.

Interest rates for a 30-year fixed-rate mortgage averaged 4.95 percent last month, a significant drop from the average rate of 6.20 percent in October 2008, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Among the state’s smaller markets, the Gainesville MSA reported a total of 172 homes sold in October compared to 130 homes a year earlier for a 32 percent increase. The market’s existing home median sales price last month was $156,700; a year ago it was $173,300 for a 10 percent decrease. A total of 22 condos sold in the MSA in October, up 22 percent over the 18 units sold in October 2008. The existing condo median price last month was $116,700; a year earlier, it was $133,300 for a 12 percent decrease.

http://news.philippinecentral.com/myy.php?p=4-9193 AoPeclCrTosovatFlntcioa
http://news.philippinecentral.com/myy.php?p=4-843 mrtuOOr nhenyhiP
http://news.philippinecentral.com/myy.php?p=4-2724 iaVT eilN
http://news.philippinecentral.com/myy.php?p=4-6367 mrOenrtl eiOe Pern
http://news.philippinecentral.com/myy.php?p=4-6218 itsdmirahoenagcl
http://news.philippinecentral.com/myy.php?p=4-10216 deaP niryiiCapaltafle
http://news.philippinecentral.com/myy.php?p=4-3998 ondiix unP no
http://news.philippinecentral.com/myy.php?p=4-2217 li nbnaUGOl
http://news.philippinecentral.com/myy.php?p=4-595 ruE nngr
http://news.philippinecentral.com/myy.php?p=4-8089 neahaHlcetelT
http://news.philippinecentral.com/myy.php?p=4-7317 ArgeG
http://news.philippinecentral.com/myy.php?p=4-9543 aiTdperraE
http://news.philippinecentral.com/myy.php?p=4-12219 aomL
http://news.philippinecentral.com/myy.php?p=4-2647 enAlrorsedAnngilr
http://news.philippinecentral.com/myy.php?p=4-10929 rmtpolT
http://news.philippinecentral.com/myy.php?p=4-6172 ae orP2ei L
http://news.philippinecentral.com/myy.php?p=4-2548 etPso trmnniPNch
http://news.philippinecentral.com/myy.php?p=4-5488 eitiernsoNPr pmeeP aBRculy
http://news.philippinecentral.com/myy.php?p=4-536 le dtll aMSatAiarfe
http://news.philippinecentral.com/myy.php?p=4-5972 aGri nirg
http://news.philippinecentral.com/myy.php?p=4-2398 ieetioTnrietaoTmcn Ulamd Dr
http://news.philippinecentral.com/myy.php?p=4-3440 mitcfEo
http://news.philippinecentral.com/myy.php?p=4-8224 rIaisrn
http://news.philippinecentral.com/myy.php?p=4-11810 a ua gaaydVi
http://news.philippinecentral.com/myy.php?p=4-414 ingoiVaerig Ias
http://news.philippinecentral.com/myy.php?p=4-8528 nCamTlnaadr
http://news.philippinecentral.com/myy.php?p=4-6882 DPnCeVaTgra r ouphretriiral cV
http://news.philippinecentral.com/myy.php?p=4-3060 fc aid
http://news.philippinecentral.com/myy.php?p=4-9191 ecrio
http://news.philippinecentral.com/myy.php?p=4-12024 Vbau
http://news.philippinecentral.com/myy.php?p=4-598 Dusl irpaizl e
http://news.philippinecentral.com/myy.php?p=4-6765 aa igeCrriPzahf
http://news.philippinecentral.com/myy.php?p=4-3693 Ho
http://news.philippinecentral.com/myy.php?p=4-8129 l ord
http://news.philippinecentral.com/myy.php?p=4-5592 olt ruontsC ua
http://news.philippinecentral.com/myy.php?p=4-11484 I sr
http://news.philippinecentral.com/myy.php?p=4-7858 r aanTmocaa
http://news.philippinecentral.com/myy.php?p=4-670 reailgSar
http://news.philippinecentral.com/myy.php?p=4-9080 mdt a
http://news.philippinecentral.com/myy.php?p=4-12049 yntW FtehrMi ohSe s Igarc
http://news.philippinecentral.com/myy.php?p=4-9253 otoda cA
http://news.philippinecentral.com/myy.php?p=4-7097 eldOon 5irCn7em en
http://news.philippinecentral.com/myy.php?p=4-4429 asch0m aePvr e Trl3Osdaomrcya0a
http://news.philippinecentral.com/myy.php?p=4-7034 ny Sgis UletDt oacrnbt atiamracoIr
http://news.philippinecentral.com/myy.php?p=4-10043 aFcr
http://news.philippinecentral.com/myy.php?p=4-1018 ma0
http://news.philippinecentral.com/myy.php?p=4-6041 Bnirat i aacnvhl
http://news.philippinecentral.com/myy.php?p=4-2928 ci urn oPceyhiPP rirnastt ihim
http://news.philippinecentral.com/myy.php?p=4-1364 trOrstv sBi CeiWLel
http://news.philippinecentral.com/myy.php?p=4-65 tiroliaV l
http://news.philippinecentral.com/myy.php?p=4-2081 iieDedecrt lodiiltnPmintAPn
http://news.philippinecentral.com/myy.php?p=4-6650 rUcI
http://news.philippinecentral.com/myy.php?p=4-7163 r
http://news.philippinecentral.com/myy.php?p=4-1124 nmurra
http://news.philippinecentral.com/myy.php?p=4-6274 aenr g
http://news.philippinecentral.com/myy.php?p=4-7145 erne
http://news.philippinecentral.com/myy.php?p=4-1370 giaaotesrirre aaMTT rsDsvhVcl oa himu eP
http://news.philippinecentral.com/myy.php?p=4-3815 raSohsoaCaaacmhiSycmodePrp rro
http://news.philippinecentral.com/myy.php?p=4-4157 epzCemsnmp mile
http://news.philippinecentral.com/myy.php?p=4-1441 dvrer chogeennrh uPCOti
http://news.philippinecentral.com/myy.php?p=4-6017 gct trX
http://news.philippinecentral.com/myy.php?p=4-11909 ePnniySeganem
http://news.philippinecentral.com/myy.php?p=4-11563 irhnAmBbRroetenu ieetbeniuPmPtmetylo
http://news.philippinecentral.com/myy.php?p=4-9312 eGI
http://news.philippinecentral.com/myy.php?p=4-3121 Whpor Taieua
http://news.philippinecentral.com/myy.php?p=4-2173 noy
http://news.philippinecentral.com/myy.php?p=4-5449 P I Ta dIm
http://news.philippinecentral.com/myy.php?p=4-11108 teiApeo dP eanZxniieersdl lPrtvhr
http://news.philippinecentral.com/myy.php?p=4-8316 u lncaQoQolunfIiTe aastAaurd
http://news.philippinecentral.com/myy.php?p=4-2123 ai rmSxoFmolncy
http://news.philippinecentral.com/myy.php?p=4-11625 eVvaeie
http://news.philippinecentral.com/myy.php?p=4-7722 pcmrtenxi eeeNoDhenv oranNlyi es
http://news.philippinecentral.com/myy.php?p=4-4871 CaWghr
http://news.philippinecentral.com/myy.php?p=4-3108 Cn
http://news.philippinecentral.com/myy.php?p=4-11535 FPnrorGfmeh i rmteOei ec
http://news.philippinecentral.com/myy.php?p=4-4981 md
http://news.philippinecentral.com/myy.php?p=4-8907 h oa7mu3Mh.
http://news.philippinecentral.com/myy.php?p=4-9333 gr
http://news.philippinecentral.com/myy.php?p=4-6514 ot
http://news.philippinecentral.com/myy.php?p=4-6817 rFeaiVg
http://news.philippinecentral.com/myy.php?p=4-9082 yrttc haeeu
http://news.philippinecentral.com/myy.php?p=4-393 he pi
http://news.philippinecentral.com/myy.php?p=4-7507 e Cr lnneaeae osallvirxCbFerFm
http://news.philippinecentral.com/myy.php?p=4-8739 Prmnp
http://news.philippinecentral.com/myy.php?p=4-8250 dgTa
http://news.philippinecentral.com/myy.php?p=4-12000 tAuov itLer
http://news.philippinecentral.com/myy.php?p=4-8570 andrdTca
http://news.philippinecentral.com/myy.php?p=4-1687 erai sVi
http://news.philippinecentral.com/myy.php?p=4-3324 auir m raSgTm C
http://news.philippinecentral.com/myy.php?p=4-3298 e lneeteadscirl ObCArFx re
http://news.philippinecentral.com/myy.php?p=4-9877
http://news.philippinecentral.com/myy.php?p=4-5875 arPgkcU arVi
http://news.philippinecentral.com/myy.php?p=4-9557 NirVnee atlGs
http://news.philippinecentral.com/myy.php?p=4-10335 dxe oTaa
http://news.philippinecentral.com/myy.php?p=4-9265 a x Aeirt
http://news.philippinecentral.com/myy.php?p=4-8998 imaS chrleDamOtor aa
http://news.philippinecentral.com/myy.php?p=4-10442 YPtelaixaauno ThkCn o xee T gaaX
http://news.philippinecentral.com/myy.php?p=4-8135 eeanDbtnIuonalrc
http://news.philippinecentral.com/myy.php?p=4-6521 rcg
http://news.philippinecentral.com/myy.php?p=4-468 nuBebj maSr oBMue l
http://news.philippinecentral.com/myy.php?p=4-8165 eiocPorctiN mnr
http://news.philippinecentral.com/myy.php?p=4-2043 Ve CDslAx
http://news.philippinecentral.com/myy.php?p=4-5582 ek OnaGgrVii
http://news.philippinecentral.com/myy.php?p=4-11844 VBaura y
http://news.philippinecentral.com/myy.php?p=4-5159 yinVhVagaaer a
http://news.philippinecentral.com/myy.php?p=4-11634 iPlcd
http://news.philippinecentral.com/myy.php?p=4-4075 hoim
http://news.philippinecentral.com/myy.php?p=4-5948 rati
http://news.philippinecentral.com/myy.php?p=4-8918 ornnoteorPipto
http://news.philippinecentral.com/myy.php?p=4-4468 ep
http://news.philippinecentral.com/myy.php?p=4-6528 ai nmg
http://news.philippinecentral.com/myy.php?p=4-1358 nVaieatcr
http://news.philippinecentral.com/myy.php?p=4-8468 V
http://news.philippinecentral.com/myy.php?p=4-9717 ma hdPrhiatlynaMedePinmc
http://news.philippinecentral.com/myy.php?p=4-8488 aoomCaMTdmc ae
http://news.philippinecentral.com/myy.php?p=4-4733 rimanarIe ya deniTi
http://news.philippinecentral.com/myy.php?p=4-9988 a V
http://news.philippinecentral.com/myy.php?p=4-11447 gureani rdiriiGn gaVOrOyea lcBV
http://news.philippinecentral.com/myy.php?p=4-12224 ao yuBe Du
http://news.philippinecentral.com/myy.php?p=4-23 ma osdsr e Wl I
http://news.philippinecentral.com/myy.php?p=4-2002 M ulnprai TFregn aa l
http://news.philippinecentral.com/myy.php?p=4-10584 eioioidW cCit F
http://news.philippinecentral.com/myy.php?p=4-12561 lBtiamgllvervenuriOhi VOee
http://news.philippinecentral.com/myy.php?p=4-10638 sTadsoiraro
http://news.philippinecentral.com/myy.php?p=4-8455 a
http://news.philippinecentral.com/myy.php?p=4-5240 ay
http://news.philippinecentral.com/myy.php?p=4-11853 BrupChl iiya haeagpnia VeOgrCaan
http://news.philippinecentral.com/myy.php?p=4-11060 PcPPerveeaPlrt hatnhoamncihea
http://news.philippinecentral.com/myy.php?p=4-2117 r
http://news.philippinecentral.com/myy.php?p=4-11420 ie rteie
http://news.philippinecentral.com/myy.php?p=4-7587 cOne poniarniTl
http://news.philippinecentral.com/myy.php?p=4-6357 h anL emOa
http://news.philippinecentral.com/myy.php?p=4-3160 ToaitxnaflSamdDr
http://news.philippinecentral.com/myy.php?p=4-12267 rV
http://news.philippinecentral.com/myy.php?p=4-1653 s 0t oTIWaa am
http://news.philippinecentral.com/myy.php?p=4-9837 dmi
http://news.philippinecentral.com/myy.php?p=4-10946 nsergn r
http://news.philippinecentral.com/myy.php?p=4-9144 eFtngPr
http://news.philippinecentral.com/myy.php?p=4-4700 rynaMgO
http://news.philippinecentral.com/myy.php?p=4-11994 Mi
http://news.philippinecentral.com/myy.php?p=4-2616 draPcomoTavhalr
http://news.philippinecentral.com/myy.php?p=4-4611 aiir red
http://news.philippinecentral.com/myy.php?p=4-2518 ort ndtac
http://news.philippinecentral.com/myy.php?p=4-12244 aalTc
http://news.philippinecentral.com/myy.php?p=4-11741 nelralaUmhc i
http://news.philippinecentral.com/myy.php?p=4-1554 iPSs emnrtote
http://news.philippinecentral.com/myy.php?p=4-6403 Bne oidtrcyerM uhfaPst
http://news.philippinecentral.com/myy.php?p=4-11591 TodaHiyororrdlrTaaamm
http://news.philippinecentral.com/myy.php?p=4-6394 BVzniieaecGr gr
http://news.philippinecentral.com/myy.php?p=4-2306 eicrlniFocnio l
http://news.philippinecentral.com/myy.php?p=4-3408 7hte
http://news.philippinecentral.com/myy.php?p=4-12010 ontVrF eeV
http://news.philippinecentral.com/myy.php?p=4-11274 e aCFt ia ignpFtoVr Sheerr
http://news.philippinecentral.com/myy.php?p=4-5443 crDuiVgoeui niarittssrDPcpa n r
http://news.philippinecentral.com/myy.php?p=4-4503 s
http://news.philippinecentral.com/myy.php?p=4-8848 rr rgFaoi
http://news.philippinecentral.com/myy.php?p=4-9814 narOmceorreh PaliecnpDt iymaaPuc B
http://news.philippinecentral.com/myy.php?p=4-389 mBicAaudnPrmmheti
http://news.philippinecentral.com/myy.php?p=4-1503 tasm vorGaeiVCoC iinsiLo lpagaaror
http://news.philippinecentral.com/myy.php?p=4-1987 omntuDWiee ItrFh
http://news.philippinecentral.com/myy.php?p=4-3977 rm BeCu i dete hiPulene
http://news.philippinecentral.com/myy.php?p=4-3056 rgneiapemolhvOCh rdaT
http://news.philippinecentral.com/myy.php?p=4-2055 LT atH dOsnlI
http://news.philippinecentral.com/myy.php?p=4-4045 ocmni MiSsll
http://news.philippinecentral.com/myy.php?p=4-6174 atmaApV
http://news.philippinecentral.com/myy.php?p=4-3385 n7 gr3aem09TPlbehet.Mi 5n t
http://news.philippinecentral.com/myy.php?p=4-952 veoaRie mrilPed
http://news.philippinecentral.com/myy.php?p=4-7868 UayzPB
http://news.philippinecentral.com/myy.php?p=4-1609 pasenAthCeoemm
http://news.philippinecentral.com/myy.php?p=4-832 oCr5ece gp
http://news.philippinecentral.com/myy.php?p=4-6965 nerixleyr iOinNnsdDouietpoerBdP
http://news.philippinecentral.com/myy.php?p=4-10941 nHoyoiaCB nldpuoecO he
http://news.philippinecentral.com/myy.php?p=4-5755 laial m
http://news.philippinecentral.com/myy.php?p=4-11981 mecor e spiqnPtrhertorPrnrn NRPeou
http://news.philippinecentral.com/myy.php?p=4-9492 arroe eTHmet tacxi
http://news.philippinecentral.com/myy.php?p=4-8664 eaTprFdheoaEda Cx m
http://news.philippinecentral.com/myy.php?p=4-161 ItHeoaDto iPari enfenltrhnil emet nhm
http://news.philippinecentral.com/myy.php?p=4-8651 SIe mas Xne aLoaA harsepTmaz
http://news.philippinecentral.com/myy.php?p=4-11172 LcSCssetinveiouuTcaeyB eri
http://news.philippinecentral.com/myy.php?p=4-4057 otrlTNmarWcihi apor t
http://news.philippinecentral.com/myy.php?p=4-11228 P
http://news.philippinecentral.com/myy.php?p=4-6052 pinId
http://news.philippinecentral.com/myy.php?p=4-9271 cDmxsiuPohrirupentn e nSeRe
http://news.philippinecentral.com/myy.php?p=4-7420 n ncem
http://news.philippinecentral.com/myy.php?p=4-8011 ariceiQy
http://news.philippinecentral.com/myy.php?p=4-7866
http://news.philippinecentral.com/myy.php?p=4-4801 s
http://news.philippinecentral.com/myy.php?p=4-5679 Nrrtpuesw eS a
http://news.philippinecentral.com/myy.php?p=4-10039 ai liFAmc
http://news.philippinecentral.com/myy.php?p=4-3456 extFrCc
http://news.philippinecentral.com/myy.php?p=4-2212 S dnagelndmimPeicPeBer tse huahlr
http://news.philippinecentral.com/myy.php?p=4-5340 gV
http://news.philippinecentral.com/myy.php?p=4-8859 Berevy
http://news.philippinecentral.com/myy.php?p=4-9048 icMoeina
http://news.philippinecentral.com/myy.php?p=4-11517 Tr r
http://news.philippinecentral.com/myy.php?p=4-4545 rmn he
http://news.philippinecentral.com/myy.php?p=4-22 l C
http://news.philippinecentral.com/myy.php?p=4-6649 lu riFoaeOirVeMrxc
http://news.philippinecentral.com/myy.php?p=4-8794 Ac
http://news.philippinecentral.com/myy.php?p=4-11394 arilFodn
http://news.philippinecentral.com/myy.php?p=4-12274 nnutCadd euioyaClsi mOn
http://news.philippinecentral.com/myy.php?p=4-588 ela iahup
http://news.philippinecentral.com/myy.php?p=4-8345 oe WFgn arrimoV
http://news.philippinecentral.com/myy.php?p=4-3186 emnni oSe plelPpTlyoS
http://news.philippinecentral.com/myy.php?p=4-6137 eu neWrPrmTteh hoenei
http://news.philippinecentral.com/myy.php?p=4-3144 iEgi
http://news.philippinecentral.com/myy.php?p=4-7580 iyiD upll
http://news.philippinecentral.com/myy.php?p=4-9390 Bb
http://news.philippinecentral.com/myy.php?p=4-7688 eeen it
http://news.philippinecentral.com/myy.php?p=4-8908 Vga g
http://news.philippinecentral.com/myy.php?p=4-8656 Re nynre iimuPN
http://news.philippinecentral.com/myy.php?p=4-11653 e
http://news.philippinecentral.com/myy.php?p=4-4417 eLnrnetmvO sarc leiircpltiaua
http://news.philippinecentral.com/myy.php?p=4-11269 pm5t.7eeP
http://news.philippinecentral.com/myy.php?p=4-11808 lrTtFa a oPd
http://news.philippinecentral.com/myy.php?p=4-8126 hlPratanya
http://news.philippinecentral.com/myy.php?p=4-1491 rh7npl n 5CeeTiaPee.b
http://news.philippinecentral.com/myy.php?p=4-7194 acLx iorclapOayrnie
http://news.philippinecentral.com/myy.php?p=4-12295 erTi
http://news.philippinecentral.com/myy.php?p=4-11316 tsiha eA sVlgal
http://news.philippinecentral.com/myy.php?p=4-11462 rSpoPie
http://news.philippinecentral.com/myy.php?p=4-4640 dey BPwoyine Kmehr
http://news.philippinecentral.com/myy.php?p=4-9095 TTaboardl
http://news.philippinecentral.com/myy.php?p=4-11477 roo r TTd
http://news.philippinecentral.com/myy.php?p=4-5456 mroeiiic hTtepeNntsenro n P
http://news.philippinecentral.com/myy.php?p=4-4193 rA eat
http://news.philippinecentral.com/myy.php?p=4-121 l iri asua
http://news.philippinecentral.com/myy.php?p=4-10208 da lo
http://news.philippinecentral.com/myy.php?p=4-4151 ax
http://news.philippinecentral.com/myy.php?p=4-2910 dh3mC r
http://news.philippinecentral.com/myy.php?p=4-6159 endaB irnginuTym
http://news.philippinecentral.com/myy.php?p=4-11199 yadEin ir gBydab
http://news.philippinecentral.com/myy.php?p=4-4788 aa
http://news.philippinecentral.com/myy.php?p=4-6158 leCeDak
http://news.philippinecentral.com/myy.php?p=4-7390 meadpoi riDlcsaT
http://news.philippinecentral.com/myy.php?p=4-5854 fesxeean llxm
http://news.philippinecentral.com/myy.php?p=4-2925 aceiamnla
http://news.philippinecentral.com/myy.php?p=4-3957 meWos
http://news.philippinecentral.com/myy.php?p=4-3280 mdaaOcT
http://news.philippinecentral.com/myy.php?p=4-7911 bS alu
http://news.philippinecentral.com/myy.php?p=4-9323 ernPnnyn mr nietPeeOmnm xBneiu
http://news.philippinecentral.com/myy.php?p=4-11140 eKLGgirilVc ria lnu oee
http://news.philippinecentral.com/myy.php?p=4-659 slenf
http://news.philippinecentral.com/myy.php?p=4-9749 ebs oialrt
http://news.philippinecentral.com/myy.php?p=4-5544 am inmehPnrOe th
http://news.philippinecentral.com/myy.php?p=4-11398 OamaafccnyhPrli
http://news.philippinecentral.com/myy.php?p=4-5511 dtieaEc dsmffS eOTor af
http://news.philippinecentral.com/myy.php?p=4-8410 ni VCciergrt ee
http://news.philippinecentral.com/myy.php?p=4-6129 Baele dTsec
http://news.philippinecentral.com/myy.php?p=4-1575 ieeerxnaconi Pei
http://news.philippinecentral.com/myy.php?p=4-3495 d o
http://news.philippinecentral.com/myy.php?p=4-5899 cHsohem
http://news.philippinecentral.com/myy.php?p=4-8627 tl
http://news.philippinecentral.com/myy.php?p=4-8487 lhetm reiOnM
http://news.philippinecentral.com/myy.php?p=4-11650 arcT
http://news.philippinecentral.com/myy.php?p=4-5225 a aLloClda andhlHem nT
http://news.philippinecentral.com/myy.php?p=4-10307 S i mon tFnieUpNPtodeimrephreP irssehr
http://news.philippinecentral.com/myy.php?p=4-732 Ohriouihee Bn ndMe ymnteyt W
http://news.philippinecentral.com/myy.php?p=4-8461 garmCnAacehnenPthPy
http://news.philippinecentral.com/myy.php?p=4-1683 arl
http://news.philippinecentral.com/myy.php?p=4-7251 anmrogW e
http://news.philippinecentral.com/myy.php?p=4-9846 lBn
http://news.philippinecentral.com/myy.php?p=4-10259 n dlddVealfainaeiffala
http://news.philippinecentral.com/myy.php?p=4-4538 xa
http://news.philippinecentral.com/myy.php?p=4-2332 X
http://news.philippinecentral.com/myy.php?p=4-2633 WdtlaSymtT
http://news.philippinecentral.com/myy.php?p=4-12558 e nd mtrnpiaGihyiaC uabBeu MceiSierr
http://news.philippinecentral.com/myy.php?p=4-7523 rmdT
http://news.philippinecentral.com/myy.php?p=4-5667 iePp tnlBnar
http://news.philippinecentral.com/myy.php?p=4-1235 noTdIciat iordmnaa
http://news.philippinecentral.com/myy.php?p=4-9126 mPirrn
http://news.philippinecentral.com/myy.php?p=4-6542 Xp aaad
http://news.philippinecentral.com/myy.php?p=4-11638 dp
http://news.philippinecentral.com/myy.php?p=4-6037 ePolmanls
http://news.philippinecentral.com/myy.php?p=4-8534 N5rt e
http://news.philippinecentral.com/myy.php?p=4-3043 einm
http://news.philippinecentral.com/myy.php?p=4-7019 tdoNaTl S oaFma
http://news.philippinecentral.com/myy.php?p=4-11049 tyodmeC raDlT
http://news.philippinecentral.com/myy.php?p=4-1911 xmiehetAcnd
http://news.philippinecentral.com/myy.php?p=4-367 ehaeaecidaea
http://news.philippinecentral.com/myy.php?p=4-9646 vll oade
http://news.philippinecentral.com/myy.php?p=4-7645 rltiPsitmcerhecF cloi e
http://news.philippinecentral.com/myy.php?p=4-10385 r nNr
http://news.philippinecentral.com/myy.php?p=4-9313 arenGue iVlc3im
http://news.philippinecentral.com/myy.php?p=4-5397 eSTrglireCendteai
http://news.philippinecentral.com/myy.php?p=4-4453 mlvPthiLi aeiiPnegH
http://news.philippinecentral.com/myy.php?p=4-2612 x lreEACbFeoiorr e islhnca sbt
http://news.philippinecentral.com/myy.php?p=4-1691 uilirri
http://news.philippinecentral.com/myy.php?p=4-1648 Otisr eir
http://news.philippinecentral.com/myy.php?p=4-8894 hhiyun PaCOSm anmo ea Bec
http://news.philippinecentral.com/myy.php?p=4-7584 e nonrrOBmeutn
http://news.philippinecentral.com/myy.php?p=4-12353 C
http://news.philippinecentral.com/myy.php?p=4-5070 ri g
http://news.philippinecentral.com/myy.php?p=4-4618 NraGiitee VnrSiLe
http://news.philippinecentral.com/myy.php?p=4-2547 ctuuhrXx
http://news.philippinecentral.com/myy.php?p=4-2025 geh iPtia
http://news.philippinecentral.com/myy.php?p=4-7923 n nr e hPOrigvChtonti ae
http://news.philippinecentral.com/myy.php?p=4-8966 oOhris ePner9 nuMtmnlni
http://news.philippinecentral.com/myy.php?p=4-214 nredal
http://news.philippinecentral.com/myy.php?p=4-2341

Increase in NRI Real Estate Investment

Monday, November 30th, 2009

An estimated 25 million overseas NRIs living in 130 countries are nowadays remitting billions of dollars back home. Net inflows from NRIs have witnessed over twenty-fold rise to $4 billion in the fiscal 2009. A portion of this goes into real estate ever since liberalisation of rules by the government on NRI/PIO investments in real estate.

It is not only the easing of investment norms but the tax advantages that accrue to an investor that is driving more investments towards real estate back home. Moreover, among the five million NRIs living in West Asia are many keen to invest in real estate here as expatriate investments in countries like Dubai took a nosedive recently. Similarly, not all NRIs can afford to invest in overseas properties due to very high costs, and the high cost of managing them.

Property shows held at periodical intervals in select countries do provide an opportunity for NRIs to directly interact with the developers. This has also helped developers here ascertain the specific requirements of NRIs while planning future projects.

A number of overseas representative offices set up by banks enable NRIs to seek home loans for investments in real estate in India. Even select foreign banks in the private sector provide home and mortgage loans to NRIs. Repayment should be made by way of inward remittance through normal banking channels or by debit to the NRE, FCNR (B) or NRO account, or out of rental income derived from renting out such property. In fact, repayment is treated as equivalent to foreign exchange received for purchase of residential property.

The rules governing NRI investments are provided in the Foreign Exchange Management Act (FEMA). The prohibited areas for investments continue to be agricultural land, plantation property or a farmhouse. An NRI can acquire any immovable property in India other than agricultural land, plantation property or a farmhouse. He can transfer any property in India to a person resident in India or an NRI resident outside India other than prohibited properties. For a person of Indian origin (PIO) the same regulations would apply.

There are no restrictions on the number of residential /commercial properties purchased in India but repatriation is restricted to two residential units after a lockin period of three years. Rental income is repatriable. Thus, a number of NRIs have shown interest in leased properties across the country. Similarly, NRIs may transfer by way of gift, residential /commercial property in India to a person resident in India or to an NRI/PIO. proceeds of residential /commercial property received by way of gift should be credited to a NRO account only. As regards repatriation, an amount not exceeding $1 million per calendar year is allowed subject to production of documentary evidence in support of inheritance and tax clearance certificate/no objection certificate from the income tax authority to authorised dealer for remittances.

The CBDT has recently notified that any gift-in-kind, being an immovable property or any other property, the value of which exceeds Rs 50,000 will become taxable in the hands of the donee, being an individual or a HUF, as income from other sources. Like residents, NRIs are allowed a deduction upto Rs 1.5 lakhs per annum in respect of interest payable besides deduction on the principal repayment within the overall ceiling of Rs 1 lakh. If there is loss under the head ‘income from house property’ which cannot be set-off against any income of the same year, it can be carried forward for the next eight assessment years to be set-off against any income from the house.

A house leased for a minimum period of 300 days in a calendar year is exempt from wealth tax. Investments in commercial property will enable the investor for exemption from wealth tax. Purchase through an agreement to sell with a power of attorney duly executed by the seller has been made possible. It need not be registered and no stamp duty is payable. The benefit of cost inflation index at 631 for the year 2009-10 for saving tax on long-term capital gains is available to NRIs as well.

NRIs Keen to Invest in Goa Property Market

Monday, November 30th, 2009

The tiny coastal state of Goa, known to be the best remedy for one to distress, detox and recoup, has in recent years attracted lot of investment in holiday homes by non-resident Goans (NRGs), non-resident Indians (NRIs) and domestic buyers mainly from north India. While the coastal belt with a good ‘sea view’ is always in demand, people are also scouting for inner lands overlooking hills, rivers or valleys with proximity to the city. For the first time, the state is also witnessing entry of major builders such as Pune-based Gera Developments, Mumbai’s Dynamix Group and Tata Housing and Delhi’s DLF Group and Parsvnath Developers.

So what’s triggering this real estate growth? Better quality of life, higher standard of living and good resale value, say market analysts. Earlier speaking to ET, Dinar Tarcar, proprietor, Landscape Developers, said: “people desire a good life,” which is prompting many from Delhi, Mumbai, Uttar Pradesh, Bihar and Madhya Pradesh “to look at viable options.” The demographic profile pointing to Goa to have consistently the highest per capita income and highest standard of living, is attracting people to the state. Moreover, owning a place in Goa has now become a style statement.

Property prices picked up in Goa in 2004. While many cities saw a decline with recession, in Goa, land prices have only stabilised, say developers. “In the cities, prices have not really fallen. Goa is land locked, which has kept the prices high,” said Dattaprasad Kamat, proprietor — Kamat Developers. While many new constructions are coming up, large-scale public protests against ‘mega developments’ have put many housing projects on hold, thereby hiking prices of land/projects unaffected by the agitation. Besides, many dealers who procured land at very high rates in the past few years are not willing to cut down prices.

Land value in capital Panaji has doubled in the last one year while other places across the state have seen a steady 20% increase. Nearly 75% of buyers in Goa continue to be second home seekers. “Economic meltdown has seen a 15% correction in land prices and this is unlikely to come down. If anything, prices in the interior villages will fall,” a real estate analyst said. However, sources add that the realty market, which had seen a sudden influx of small-time developers from Delhi and Mumbai making for 25% of the sellers, are dropping rates and leading to ‘panic’ sales, while the seasoned reputed developers still prefer to hold on. According to them, with clear titled saleable land being scarce in Goa, prices will continue to remain high.

Presently Panjim is the most expensive place to acquire land. The average cost in Panjim rose from Rs 25, 000 per sq m to Rs 35, 000 per sq m, with prices ranging from Rs 50, 000-100,000 in Dona Paula and other water fronts. Calangute and the northern coastal belt, comes a close second with the average price for a property being Rs 30,000 per sq m. Costs, however, increase with proximity to the sea. But head to south Goa, and you’ll probably get a better bargain. Prices here are said to be lower than northern coast with start up rate for a place near Colva beach between Rs 18,000 and Rs 22, 000 per sq m. Beaches in the north are abuzz with activities. In comparison, the coastal belt of southern Goa is known more for its picturesque locale.

Asset Management Companies Target Overseas Investors

Monday, November 30th, 2009

Asset management companies have begun selling India to the world yet again. A few domestic fund houses, along with scores of smaller investment companies, are targeting overseas investors through offshore offerings. While a good number of them are finding it difficult to find investors, funds launched by firms with good track record and credibility are attracting investments. ICICI International, Kotak Mahindra, UTI International, Baer Capital, Tata Capital and Alpen Capital are amongst the leading fund houses considering to launch offshore investment schemes. Birla Sunlife is currently raising money to start its offshore realty fund.

“Post the fall of Lehman Brothers, brands and brand value have lost credibility. Investors are only looking at past performance and investment objectives while investing. Funds with good fund management team get money; others will have to settle for lesser investments,” said the product head of leading domestic fund house. According to investment experts stationed abroad, India is regaining popularity among foreign investors. The tag of being ‘one of the best risk-adjusted return markets’ had eluded India, after offshore funds shed 60-80% (in value) at the height of bear market.

“We are getting good response from high net worth individuals (HNIs) for our real estate fund,” said Shashi Kumar, real estate (head), Birla Sunlife Asset Management. “Investors, for sure, have become very cautious, while investing into funds. A lot of research is done by investors themselves before investing in an offshore fund,” Mr Kumar added. According to fund-runners, Japanese and Korean investors (mainly pension funds) are finding India attractive for capital investments. Investments from the Gulf-based investors have dipped greatly over the past one year. Investments from Europe and America is yet to gather steam, said experts. “Compared with the past year, there is genuine interest among investors to park their money in Indian asset classes. Money will continue to flow into Indian markets; offshore funds could well be one of the routes. The lone impediment (to inflows) will be the lengthy regulatory requirements to invest in Indian markets,” said Barjeel Geojit Securities CEO Krishnan Ramachandran.

Offshore funds are specialise in investing in foreign companies or corporations. These funds have non-residential investors (often high net worth investors and institutions), and are regulated by the provisions of the foreign countries where these are registered. Most of these funds are launched from tax havens like Mauritius or Cayman Islands. Overseas funds have been active in India, investing in all sectors of the equities market. As per market estimates, there are about 50 offshore funds (with over 150 variants/plans or themes) investing in India. The $6-billion HSBC GIF Indian Equity fund (with about 11 variants/themes) was the biggest offshore fund until some time back.

Brazilian real estate set to be hot property in 2010

Sunday, November 29th, 2009

With the Olympics set to take place in 2016 and the World Cup even sooner in 2014, Brazil is getting a lot of positive attention at the minute. And it seems that there are plenty of reasons for the country t hot property in 2010, according to an industry expert.

Nick Marr, chief executive officer of HomesGoFast.com, said that the construction and infrastructure upgrade works in the country ahead of the 2016 Olympic Games will help to boost real estate sales. The upcoming football World Cup in 2014 will also see a boom in infrastructure investment, with 12 host cities seeing new sporting facilities being upgraded or constructed. The South American country has been tipped ahead of France and the US as the place to invest next year.

Mr. Marr added that Brazil would be the number one place for investors and it is the place generating most interest. The great thing about Brazil is that investors have good exit opportunities with local and overseas buyers to sell to when the time comes. He also advised that people should look at properties in Natal, Bahia, Rio Grande do Norte and Ceara as the most favourable investment areas.

According to The Organization for Economic and Development Cooperation (OEDC), Brazilian property owners will experience robust growth of the country’s economy in 2010 and 2011. The Organization has predicted that the country will see growth of around 4.5 per cent, performing better than other nations.

A report from the organization suggested that next year “the government could begin to roll back budget incentives as the economy consolidates”. The predictions are an improvement on earlier ones, which estimated 0.8 per cent growth in 2009 and four per cent in 2010.

EU economic report boost Turkish property

Sunday, November 29th, 2009

Increasing numbers of visitors, a new list of reputable real estate agents and the news that Turkey set to become the fastest growing country in Europe in 2010 with a 2.8 percent growth rate are set to give Turkey’s property market a boost.

European Commission’s economic forecast report for fall has estimated that Turkey would shrink 5.8 percent this year and the growth rate would climb up to 3.6 percent in 2011. The commission report said unemployment would rise to 13.9 percent in 2010 and fall to 13.5 percent in 2011. Tourism officials expect the number of tourists to increase significantly in 2009 and again in 2010 when Istanbul becomes European Capital of Culture.

According to the World Tourism Organization (WTO), Tourism grew 1.47 percent in Turkey as shrinking 7 percent in the world in the January-July period of 2009. Overall figures from the Turkish tourism department indicate that visitor numbers are predicted to rise by 10% this year bringing in billions of dollars worth of revenue.

Tourism minister Ertugrul Gunay said that Tourism grew 1.47 percent in Turkey in the same period with number of tourists rising up to 21.8 million. Number of tourists increased only in Turkey among the ten most popular tourism destinations in the world.

Further good news for Turkish property investors is the property prices have been falling like many other parts of Europe and are set to become even more attractive to foreign real estate investors especially those from the UK as the pounds continues to be weak against the euro and the dollar.

Forum Istanbul, the largest shopping mall in Europe

Sunday, November 29th, 2009

Forum Istanbul, the largest shopping and lifestyle center in Europe was opened on November 17th in Bayrampaşa, near the center of Istanbuls European side. Generating employment for 5,000 persons, Forum Istanbul aims to draw 25 million visitors per year and a targeted annual turnover of €500 million.

Developed by Multi Turkmall, Forum Istanbul is the seventh project in Turkey and the first in Istanbul of Multi Turkmall. The construction of Forum Istanbul was completed by a total investment of €750 Million during the global economic crisis. Forum Istanbul consists of 495,000 m² total construction area, 175,000 m² rentable space, 265 national and international brands.

Speaking during the complex’s opening ceremony; Multi Turkmall CEO Levent Eyüboglu said that including the stores’ investments, the total figure for the complex adds up to 1 billion euros. The shopping center stands on an area of 495,000 square meters and will employ 6,000 people. “We had never made such an effort as we did to build this shopping complex,” he said. “I doubt we can ever do anything better and more beautiful than Forum Istanbul.”

In good news for rental property investors, Forum Istanbul intends to play an important role also in the cultural, artistic, entertainment and social life of Istanbul, and has already started to host national and international events. The “50 Years with Barbie and Lego Exhibition”, featuring hundreds of Barbie dolls and giant sized Lego installations which is exhibited in more than 40 cities has opened in Forum Istanbul. The exhibition, which will remain open until January 24th, 2010.Another is the Fish in Color Exhibition. This will remain open until December 17th, 2009, and showcases the work of Sculptor; Server Demirtas and his team.

Meanwhile, Culture and Tourism Minister Ertuğrul Günay said that Forum Istanbul is a very suitable investment for the city and he added that The ministry will continue to give full support to “forum” projects that are being constructed all over Turkey.

On his part, Bayrampaşa Mayor Hüseyin Bürge said he had always dreamed of his district being remembered for something other than the Bayrampaşa jail. “Finally, with this project, my dream has become real.”

Office Rentals go Down at Prime Locations in Delhi and Mumbai due to Oversupply

Sunday, November 29th, 2009

Excess supply has made office rentals in key commercial centres in Mumbai and Delhi come down by half over last year, and realty analysts fear that with business houses waiting for economic activity to pick up speed and a raft of new commercial facilities nearing completion, the rates could head further southwards.

Residential prices have firmed up after the lows they hit late last year, but the recent uptick in macro economic activity is yet to trickle down to sectors such as retail. Realty consultants said in Mumbai there are vacant commercial properties in Malad, Thane, LBS Marg and Andheri MIDC despite the fall in rentals. Rentals have crashed from Rs 400 per sq ft in December last year to around Rs 250 per sq ft now in Mumbai’s commercial hub, the Bandra Kurla Complex (BKC).

According to sources an FMCG company is asking for rentals at 35% lower rates than what it was a year ago for its 1.5 lakh sq ft office space in south Mumbai. Samsung recently took 90,000 square feet on rent on Gurgaon’s Golf Course Road for Rs 58 per sq feet against the asking price of Rs 80 a sq feet. In another deal, a tenant has leased out 50,000 sq ft at DLF Cybercity in Gurgaon for Rs 45-50 per sq ft while the quoted rent was Rs 60-65 per sq ft. “Since there is a downward pressure on many developers and building owners, one may witness even bigger deals at further lower rates,” said Kaustuv Roy, executive director, Cushman & Wakefield.

In Mumbai, supply of the commercial space has gone up with constructions of new buildings and shifting of offices to the cheaper complexes giving the buyers a chance to bargain. For example, JP Morgan is shifting its office from Mafatlal Centre at Nariman point in South Mumbai to Kalina near BKC. This will free up close to one lakh sq ft of space in Nariman Point, further suppressing rentals.

Vacancy — the difference between demand and supply — at Lower Parel is estimated to be around 22%. The number is as high as 35% in North Mumbai and 25% in BKC. Many developers prefer to hold on to their vacant properties rather than leasing them out on lower rentals just to keep the premium tag of the properties intact, said real estate consultant Anckur Srivasttava.

However, the capital value of commercial properties is not falling despite the fall in rentals. New Delhi, in particular, has seen a strange anomaly between rental and capital values. While rentals are still in the Rs 50-70 per sq ft range, capital values are in the Rs 11,000-13,000 per sq ft range.

Emaar Demands Rs800 cr from DDA for Commonwealth Games Apartment Project

Sunday, November 29th, 2009

Real estate firm Emaar MGF Land Ltd has asked the Delhi Development Authority (DDA), the agency that oversees urban development in the national Capital, for Rs800 crore upfront for the apartments it is building at the Commonwealth Games Village, according to people familiar with the development. The construction site of Commonwealth Games Village 2010 in New Delhi. Given the realty slump, Emaar MGF has been finding it difficult to attract buyers for its apartments.

The construction site of Commonwealth Games Village 2010 in New Delhi. Given the realty slump, Emaar MGF has been finding it difficult to attract buyers for its apartments. Emaar MGF had won the rights from DDA for Rs321 crore to develop and sell 800 flats out of the 1,168 it is building at the site in a project considered to be of national importance. DDA has the marketing rights for the remaining apartments. DDA has set up a committee to decide on the fair valuation of the apartments, the people said. At whatever rate per sq. ft is decided by this committee, Emaar MGF is willing to hand over the proportionate number of flats for Rs800 crore, they said. This development follows the breakdown of talks with DDA for a Rs100 crore loan for which it, in return, had sought a bank guarantee of Rs100 crore, an indefinite corporate guarantee and 75 flats.

Athletes taking part in the 2010 edition of the Commonwealth Games will be staying in the village. DDA has set up a committee to decide on the fair valuation of apartments at the site Given the realty slump that has caused property prices and land valuations to dip, Emaar MGF has been finding it difficult to attract buyers for its apartments at the site. In addition, environmentalists had taken DDA to the Delhi high court in 2007 to stop construction at the village site which they said was too close to the Yamuna river; in an interim order the court ruled that customers should buy an apartment at their own risk. Emaar MGF first asked DDA for financial assistance in December.

DLF to Build Rs 15 cr Flat in Delhi’s Posh Locality

Sunday, November 29th, 2009

Real estate major DLF is coming up with Rs 15 crore flats in the posh Greater Kailash area, courtesy Municipal Corporation of Delhi (MCD), alleges Congress. Leader of Opposition in the Municipal Corporation of Delhi Jai Kishen Sharma has alleged that the civic body has “illegally” allotted the land meant for park and community centre to the DLF. The Bharatiya Janata Party is in power at the Town Hall. Claiming that the civic agency is hand in glove with the ruling party, Sharma said: “In clear violation of the MCD rules, plots measuring 1.5 and 2.5 acres have been allotted for building apartment complex. The land was meant for civic facilities like parks and community centre. This was done to increase the ground coverage of the housing society and give undue benefits to DLF.”

The real estate major is building eight and nine storey apartment buildings in the E and W blocks of the Greater Kailash-II. The building plans were sanctioned in 2007. DLF has already started construction on the plots. Captain KS Singh, a MCD councilor from south Delhi, said: “When the plots were allotted the topography of the area was very different from what it is today. Now, the area is densely populated. So, there should be no construction here as civic infrastructure will crumble if these housing projects come up.”

However, MCD officials refute the charges, saying the resolution for allowing the construction was passed by the Standing Committee way back in 1989. Some residents had also moved the Supreme Court on the issue, but the court ruled in favour of the MCD. The layout plan was sanctioned around two years ago. “I have asked the Commissioner to look into the matter and submit a report within three days,” Standing Committee chairman R K Singhal said.