Real state situation in Argentina, United States, Japan and in Barcelona
- Posted by Marc on April 9th, 2009 filed in real state
- 1 Comment »
Office space in selected San Francisco skyscrapers (click to enlarge)
In Argentina after the big crisis of 2001-2002, property prices have recovered. According to the interesting Argentinian blogger Sebastian Estevez, and his Blog bullspreadblog.blogspot.com, in the area of “corredor norte” in Buenos Aires, real state prices could have doubled in the last 7 years, you can see the chart on his blog. Sebastian explains how prices are falling now but not officially published.
I also find a very interesting post on this blog on an currency agreement between China and Argentina Governments.
Also, you could find in the site reporteinmobiliario.com, a series of argentinian real state videos conferences.
In Japan a few days ago there was a significant new in the sector. Lone Star stepped up its presence in Japan on Tuesday by agreeing to invest Y115.5bn ($1.2bn) in the country’s first real estate investment fund to file for protection.
The US fund, which specialises in distressed asset investments, was chosen to be the rehabilitation sponsor of New City Residence Investment Corporation, which filed for court protection last October with debts of Y112.3bn.
The acquisition price came at a capitalisation rate – the purchase price divided by the income from the underlying assets – of 7.3 per cent, Mr Torii said.
Given that the implied capitalisation rate of other residential Reits at current share prices was 8.5 per cent, Lone Star was offering “a fairly high price”, he added
The price of land in Japan, since 1990 had fallen by 80%. So we can find very attractive prices, even in downtown Tokyo.
In Barcelona, activity in Barcelona office market has fallen 44.60% in the first quarter of this year over the same period of 2008 and in total have been absorbed 32,492 square feet, and rents have been at maximum 23.5 euros per square meter, 16.1% less.
According to the latest report of the office market in Barcelona Cushman & Wakefield in the first quarter of the year in Barcelona have made a total of 77 operations, compared to 139 in the same quarter last year.
The vacancy rate in the Barcelona office market increased by 12.27% at end of first quarter, compared to the figures of the close of 2008, and stood at 9.15%, equivalent to 492,222 square feet available .
Most of the square meters are available as 70% in the periphery and in new business areas.
The director of Cushman & Wakefield in Barcelona, Oriol Barrachina said the downward trend will continue.
In United States, at the end of February, 40 wealthy Chinese embarked on a housing tour of the US. The trip, run by Soufun Holdings, one of China’s largest real estate companies, kicked off in Boston and continued on to San Francisco, Los Angeles and New York.
For a fee of US$3,600 apiece, tour group members perused homes in the US$500,000 to US$1 million range.
The trip was so popular that Soufun had to turn away 400 applicants.
“Every day people are calling about it,” said Zhao Xinyu, public relations manager at Soufun’s Beijing office. Based on customer demand, Soufun may expand such trips to include Australia, the UK and Japan.
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May 14th, 2009 at 7:51 pm
Tribaldos Real Estate Corp.
http://www.tribaldos.com.pa
Panama, the new Miami for Latin American and European
Panama has become in recent years into the new Miami not only for
Latin Americans but also for many foreigners in 5
years, either for work, business or retirement, have decided to invest and
installed in the country to hold presidential elections on Sunday.
However, all facilities that Panama has made the investment and
Residents have also brought new collateral problems such as crime
organized drug trafficking.
According to data migration between 2004 and March 31, 2009 were legalized
in Panama about 45,000 foreigners, of whom 45% are Colombians
(11,400), 12% U.S. (5,403), 9% Chinese (4,174), Venezuela 7%
(3,065) and 5% Dominicans (2068).
The most striking has been the Venezuelans, who in the past
4 years have tripled their presence in Panama, to create communities
whole of that nationality.
According to authorities, the economic, air facilities, the
dollar, safety, climate, and the expansion of the Canal
have provided many people in Colombia, Venezuela and United States
have decided to come to Panama to invest to stay.
“This is a new Miami for Latin Americans, but I’m sure
for Europeans, too, for the facilities offered and that in Panama
other foreign countries can not, “he told AFP Tayra Barsallo,
Deputy Director of Immigration.
The official explained that “many retired Americans or Canadians
Panama Europe have also chosen to install.
Residence permits have become a source of income for
Panamanian government, which in the first quarter raised over
$ 4 million for this purpose, double in the same period
last year.
Many of these new residents are employed by over 100 agencies
international, including several UN agencies located
banks of the Canal in the City of Knowledge, or more than 20 executives
multinationals such as Caterpillar, HP or Sanofi Aventis, which have decided
manage their operations to the continent from Panama.
The facilities offered by the government of Martín Torrijos for these
agencies and businesses to occupy the former U.S. base have
immigration contributed to this luxury, as well as tens of thousands of
homes being built in the country, mostly in the capital,
where competing skyscrapers in height and boldness.
Panama has taken place during the first six years of the list of
best places for retirees who produces the renowned journal
U.S. “International Living.
For more information: http://www.tribaldos.com.pa
We like Panama for a number of reasons, including: the tropical weather, the low cost of living, the reliability and efficiency you don’t find in other Latin American countries, the favorable offshore banking laws, the stable economy (with the U.S. dollar as the currency), the government investment incentives that slash tax rates and fees for entrepreneurs…and give retirees discounts on everything from doctor visits to utility bills, he diverse geography (from mountain ranges to tropical islands…from a booming metropolis to vast jungles), and the fact that it is still a relatively undiscovered paradise.
For more informations
http://www.tribaldos.com.pa