The president of the Peruvian Chamber of Construction (Capeco), Lelio Balarezo reported that home sales in the country fell 20% in the first half of the year compared to the same period 2013.
He explained that this is due to the rules issued both the Central Bank and the Superintendency of Banking and Insurance (SBS) that tightened credit, so access to one is much harder.
However, expectations are optimistic for the second half in which it is expected that home sales resumes.
He said the growth of the sector for this year would be explained by a digit "red tape and permits" in the country which impacts the cessation of work in the sector.
He said last week Capeco submitted a proposal to the Executive to promote the construction of social housing by the private sector. It is proposed that the government provide an incentive to build at least 50,000 homes and increase subsidies.
Lunes, Hulyo 28, 2014
Miyerkules, Hulyo 23, 2014
He failed the dollarization of the property market
The housing market pesificación joined the increasingly long official announcements which never materialize list. According to a study Zonaprop.com specialized portal, currently only 9% of the properties offered for sale in the city of Buenos Aires are published prices in pesos.
Within that 9% also brand new properties represent the majority, and if taken only notices homes used, publications weights represent less than 3% of the total.
Pesificar the property values was one of the goals he had set the then Central Bank President Mercedes Marco del Pont when he had to publicly explain the reasons which led it to impose the stocks to buy dollars, a few days president Cristina Kirchner got his reelection.
Clearly, the official explanations seemed mostly an excuse for the real purpose of that measure, which was simply to reduce the demand for dollars in a time when the central bank reserves began to decline sharply. However, Marco del Pont itself did not hesitate to present at the time the ban on buying dollars as "a step in the de-dollarization of the housing market."
With the results in view, much of the ground they had gained on dollarization in the last two and half years and was lost.
According to the survey Zonaprop.com before the trap was implemented in pesos offers represented only 1% of the notices of sale were published in Buenos Aires. With the lack of access to dollars, the number of transactions fell, but there was also a proliferation of publications in pesos, as expected by the government.
In December 2012, a record was set, with one in five properties for sale in local currency. However, the spring pesificadora not last long and thereafter a steady decline that seems to have found his apartment began.
"One of the factors that ended up slowing the dollarization of the housing market were Cedines, as when he announced the possibility of having a tool for the seller to be made with dollars many decided to leave out the deals in pesos," Mariano said Nejamkis CEO Zonaprop.com.
The portal, which leads the supply of properties on sale, with over 250,000 assets- notices, expected in the coming months will continue to fall in pesos publications, but never again having 1% stake before the stocks through the decision of the real estate developers and builders of "de-dollarization" projects of new units.
"If there is something positive that had the trap was at least achieved a dollarization of notices of sale of new properties, which has a certain logic if you take into account that most of the inputs is a real estate developer are pesos, "said Nejamkis.
With percentages not so marked, the process in the Federal Capital is similar to that experienced in the Gran Buenos Aires. In late 2011, only 1% of the houses and apartments for sale in the suburbs offered in pesos. A year later, the percentage jumped to 24%, and from that time he began to fall, although a trend towards less pronounced. In fact, currently offers pesos properties remain a respectable 19 percent.
Another market is pesificado rents, although in this case it is not a consequence of stocks created in 2011, and in this business that historically the percentage of dollar deals never exceeded 5 percent.
Within that 9% also brand new properties represent the majority, and if taken only notices homes used, publications weights represent less than 3% of the total.
Pesificar the property values was one of the goals he had set the then Central Bank President Mercedes Marco del Pont when he had to publicly explain the reasons which led it to impose the stocks to buy dollars, a few days president Cristina Kirchner got his reelection.
Clearly, the official explanations seemed mostly an excuse for the real purpose of that measure, which was simply to reduce the demand for dollars in a time when the central bank reserves began to decline sharply. However, Marco del Pont itself did not hesitate to present at the time the ban on buying dollars as "a step in the de-dollarization of the housing market."
With the results in view, much of the ground they had gained on dollarization in the last two and half years and was lost.
According to the survey Zonaprop.com before the trap was implemented in pesos offers represented only 1% of the notices of sale were published in Buenos Aires. With the lack of access to dollars, the number of transactions fell, but there was also a proliferation of publications in pesos, as expected by the government.
In December 2012, a record was set, with one in five properties for sale in local currency. However, the spring pesificadora not last long and thereafter a steady decline that seems to have found his apartment began.
"One of the factors that ended up slowing the dollarization of the housing market were Cedines, as when he announced the possibility of having a tool for the seller to be made with dollars many decided to leave out the deals in pesos," Mariano said Nejamkis CEO Zonaprop.com.
The portal, which leads the supply of properties on sale, with over 250,000 assets- notices, expected in the coming months will continue to fall in pesos publications, but never again having 1% stake before the stocks through the decision of the real estate developers and builders of "de-dollarization" projects of new units.
"If there is something positive that had the trap was at least achieved a dollarization of notices of sale of new properties, which has a certain logic if you take into account that most of the inputs is a real estate developer are pesos, "said Nejamkis.
With percentages not so marked, the process in the Federal Capital is similar to that experienced in the Gran Buenos Aires. In late 2011, only 1% of the houses and apartments for sale in the suburbs offered in pesos. A year later, the percentage jumped to 24%, and from that time he began to fall, although a trend towards less pronounced. In fact, currently offers pesos properties remain a respectable 19 percent.
Another market is pesificado rents, although in this case it is not a consequence of stocks created in 2011, and in this business that historically the percentage of dollar deals never exceeded 5 percent.
Lunes, Hulyo 7, 2014
U.S. housing boom boosts imports from Asia
Thanks to a housing boom in the United States, Asian manufacturers are sending the highest level in seven years for furniture and building materials in containers.
U.S. imports of furniture and building materials from Asia, aimed at retailers such as Wal-Mart Stores Inc. and Target Corp., rose 6.3% in the first four months of this year compared with the same period last year to its highest level since 2007, according to figures from the Japan Maritime Center.
Asian suppliers as Li Fung Ltd., which exports some home accessories, tableware and crafts, are benefiting from a rebound in the U.S. economy as increases in jobs and funding costs at historically low levels build confidence Americans to purchase homes. That demand is helping to boost exports of chairs and beds to decorate houses and materials and plastics used in construction.
'If you are buying a new house needs a new decoration', said by telephone last week Rahul Kapoor, an analyst at Drewry Singapore Financial Services Ltd.
He added that 'the furniture and building materials will come from Asia. That is certainly positive for the demand. "
Total U.S. imports of furniture and plastic materials and construction from Asia rose to 971.678 standard containers, TEU in the first four months of this year, compared to 914.042 a year earlier, according to figures from the Japan Maritime Center .
Li Fung, who is also the provider for clothing and larger retailers like Wal-Mart toys, recorded an increase of 17% in net profit to a record $ 725 million in 2013 due to higher sales.
HOME SALES
The largest customer of the company based in Hong Kong is Wal-Mart, which accounts for 15.4% of sales, according to data compiled by Bloomberg, followed by Target, the second-largest U.S. discount retailer, with 5.8% of revenue.
The increase in imports can be a boost for the two discount stores, which have struggled to increase revenues in the United States.
In the first quarter Wal-Mart, which closed on April 30, sales advanced 0.8% to 114,200 million while revenue at stores of competitors in the same industry in the United States suffered little change.
At Target, revenue increased 2.1% to 17,100 million in the first quarter. Sales at department stores fell for the house to the extent that U.S. comparable store levels plummeted 0.3% in a second consecutive fall.
United States recorded the largest increase in new home sales in 22 years in May as sales advanced 18.6% in the month, the largest increase for a month around the country since January 1992, according to figures from the Commerce Department.
However, charges for the transport of containers from Asia to the United States fell this year to the extent that an increase in new capacity is outpacing the increase in transported drawers.
U.S. imports of furniture and building materials from Asia, aimed at retailers such as Wal-Mart Stores Inc. and Target Corp., rose 6.3% in the first four months of this year compared with the same period last year to its highest level since 2007, according to figures from the Japan Maritime Center.
Asian suppliers as Li Fung Ltd., which exports some home accessories, tableware and crafts, are benefiting from a rebound in the U.S. economy as increases in jobs and funding costs at historically low levels build confidence Americans to purchase homes. That demand is helping to boost exports of chairs and beds to decorate houses and materials and plastics used in construction.
'If you are buying a new house needs a new decoration', said by telephone last week Rahul Kapoor, an analyst at Drewry Singapore Financial Services Ltd.
He added that 'the furniture and building materials will come from Asia. That is certainly positive for the demand. "
Total U.S. imports of furniture and plastic materials and construction from Asia rose to 971.678 standard containers, TEU in the first four months of this year, compared to 914.042 a year earlier, according to figures from the Japan Maritime Center .
Li Fung, who is also the provider for clothing and larger retailers like Wal-Mart toys, recorded an increase of 17% in net profit to a record $ 725 million in 2013 due to higher sales.
HOME SALES
The largest customer of the company based in Hong Kong is Wal-Mart, which accounts for 15.4% of sales, according to data compiled by Bloomberg, followed by Target, the second-largest U.S. discount retailer, with 5.8% of revenue.
The increase in imports can be a boost for the two discount stores, which have struggled to increase revenues in the United States.
In the first quarter Wal-Mart, which closed on April 30, sales advanced 0.8% to 114,200 million while revenue at stores of competitors in the same industry in the United States suffered little change.
At Target, revenue increased 2.1% to 17,100 million in the first quarter. Sales at department stores fell for the house to the extent that U.S. comparable store levels plummeted 0.3% in a second consecutive fall.
United States recorded the largest increase in new home sales in 22 years in May as sales advanced 18.6% in the month, the largest increase for a month around the country since January 1992, according to figures from the Commerce Department.
However, charges for the transport of containers from Asia to the United States fell this year to the extent that an increase in new capacity is outpacing the increase in transported drawers.
Martes, Hulyo 1, 2014
Foreign away from the Chinese real estate market
Foreign investment in China's real estate sector plummeted the past six months as growing competition from local investors and the worsening of the global economy has become more difficult to raise funds.
Jim Yip Kin-shing, one of the managers of investment to China DTZ, said the real estate private equity funds have struggled to global investors invest in new funds for acquisitions in China.
According to the latest research report of the company, foreign investment in the Chinese real estate market, which is dominated by commercial properties, totaling 2.800 billion yuan (U.S. $ 440 million) in the first six months. This represents only 22% of the value of total investment 12.100 billion yuan.
Foreign investment in the sector during the past year amounted to 17.100 billion yuan, representing 43.8% of total 39.000 billion yuan.
"The investment market in general in Shanghai has been weak compared to 2011," said Yip, who now expects the total investment reaches 20,000 million yuan this year. According to the expert, the situation you're seeing in Shanghai could be a reflection of market trends nationwide.
CBRE's research shows that the total foreign purchases in China fell nearly 40% in the first half of this year compared with the second half of 2011, which could be indicative of market sentiment in the country.
"However, foreign investors hold a strong appetite for well-located, high-quality commercial assets," said Greg Penn, executive director of CBRE Investment Properties Asia.
Local financial institutions dominate the acquisitions of properties in China.
Recent notable examples include buying Longyu International Commercial Plaza by the bank Baoshang by 1.950 billion yuan and an office building in the north of Shanghai China Jianyin Investment concretized by 2.310 billion yuan in rivera.
"Local buyers are not focusing on yields when making purchases, which is making it difficult for foreigners to compete in certain businesses," Penn said.
Jim Yip Kin-shing, one of the managers of investment to China DTZ, said the real estate private equity funds have struggled to global investors invest in new funds for acquisitions in China.
According to the latest research report of the company, foreign investment in the Chinese real estate market, which is dominated by commercial properties, totaling 2.800 billion yuan (U.S. $ 440 million) in the first six months. This represents only 22% of the value of total investment 12.100 billion yuan.
Foreign investment in the sector during the past year amounted to 17.100 billion yuan, representing 43.8% of total 39.000 billion yuan.
"The investment market in general in Shanghai has been weak compared to 2011," said Yip, who now expects the total investment reaches 20,000 million yuan this year. According to the expert, the situation you're seeing in Shanghai could be a reflection of market trends nationwide.
CBRE's research shows that the total foreign purchases in China fell nearly 40% in the first half of this year compared with the second half of 2011, which could be indicative of market sentiment in the country.
"However, foreign investors hold a strong appetite for well-located, high-quality commercial assets," said Greg Penn, executive director of CBRE Investment Properties Asia.
Local financial institutions dominate the acquisitions of properties in China.
Recent notable examples include buying Longyu International Commercial Plaza by the bank Baoshang by 1.950 billion yuan and an office building in the north of Shanghai China Jianyin Investment concretized by 2.310 billion yuan in rivera.
"Local buyers are not focusing on yields when making purchases, which is making it difficult for foreigners to compete in certain businesses," Penn said.
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