Real Estate

Hammerson to buy Leadenhall Court

Hammerson to buy Leadenhall Court

Hammerson, the property company has paid £65m for a building in London's financial district.

Further the firm has bought the Leadenhall Court building in the City, which was considered as a part of the tycoon's White Tower mortgage-backed securities vehicle, along with the eight other properties enlisted with a valuation of £1.8bn in 2006.

The White Tower building made a default at £1.1bn of securitized debt in 2009 after the dwindling of the portfolio value tumbled to £929m during the commercial property crisis.

Mortgage rates are near all-time low

Mortgage rates are near all-time low

Freddie Mac reported that 30 year fixed rate mortgages dropped to an all time low for the year which was in close proximity to their overall all time low. The demand for home loans is still under the weather, even after the U. S. government finished its programs which were expected to give more credit to those who want to buy homes and helping the economy.

Rajarhat pieces picked up by DLF

Rajarhat pieces picked up by DLF

A fresh sanction has been obtained by DLF which pulled out last year its idea of developing an IT SEZ in Rajarhat on a 25.8 acre plot. This sanction has been obtained from union commerce department's board of approvals in order to revive the lost venture.

The real estate major had pulled out of this construction due to the down turn of the global economy.

D K Mittal, the additional secretary of the ministry of commerce said on Tuesday that a re-notification has been allowed by the approval board of SEZ in Kolkata.

Mumbai To Have The Largest Residential Tower In The World

A fortnight after bidding the highest of over Rs 4000 crore, for a six acre plot in Wadala, Lodha group of Mumbai announced on Tuesday of its plans to comstruct a residential tower making it the world's tallest tower in the center of Mumbai. This tower they mentioned would have 117 storeys acquiring 17-acres on the land which held the Shreeniwas cotton mills.

Housing market slowing down again in UK

Housing market slowing down again in UK

As per to the latest report from Halifax Bank, the housing market of UK is again slowing down. The latest survey report has suggested that the price of houses has fallen down by 0.4% in the month of May.

Before that it has faced a massive drop of 0.1% in the month of April. It had taken the average price of UK houses down to almost 167,570 Euros. This survey was conducted by the Nationwide Building Society. It has informed that the cost of the house has been picking up recently with a slow rate.

UK’s Housing Market Falls in May

UK’s Housing Market Falls in May

UK economists have raised concerns over the growing steadiness in the market’s recovery during May.

The Halifax House Price Index depicted a 0.4% dip in May, following a 0.1% fall in April. However, the data is countering the results on a similar benchmark index, which suggests that house prices are on the rise.

Martin Ellis, housing economist at Halifax, said the recent dip in the rate of recovery has been supported by bank’s forecast which expects the prices to remain unchanged throughout the year.

Housing Market Recovery Fragile

Housing Market Recovery Fragile

Even though house prices continued to increase last month, the slowdown witnessed in the market pointed to the uneven pace of the recovery. Property prices increased by 0.5% in May compared to 1.1% in the month of April. The prices had increased by 1% in the month of March.

The yearly rate of growth stood at 9.8% compared to 10.5% in April, when it was the first time in almost 3 years that a double-digit increase in the index was registered.

Pending house sales rise in April

Pending house sales rise in April

Sales of the pending houses for the month of April increased in the US. This has happened unexpectedly and the consumers buying contracts for getting tax-credits has been cited as the major reason for the trend.

As per the data given by the National Association of Realtors' Index, the pending house sales went up by 6 per cent to end at 11.09 for April.

Moody's CEO unhappy with his company

Raymond McDaniel

Raymond McDaniel said that is 'disappointed' with the kind of ratings that his company has given to the residential mortgage securities and the collateralized debt obligations.

In a written testimony given by him to the US Financial Crisis Inquiry Commission, Raymond said that the financial crisis that rocked the whole world was caused by the collapse of the housing market. This, he said, was unimaginable.

Marathon NextGen FY 10 net profit rises by 251%

Marathon NextGen FY 10 net profit rises by 251%

Marathon NextGen Realty Limited has declared its year-end financial results for the fiscal year 2009-10 and it has posted an outstanding growth in net profit figure.

The company has informed that it has registered a net profit of Rs 146.69-crore for the year that ended in 31st March, 2010.

The consolidated net profit was reported to be Rs 41.76-crore for the financial year 2008-09. This net profit figure has grown up by 251 % in this year as compared to the last fiscal. This has been informed by the Marathon NextGen Realty Limited in a press release.