Sales of previously owned U.S. homes were up sharply in August, a ray of light for the nation's beaten-down housing market. But economists are skeptical the gains will last. The number of homes sold rose 7.7% from July and were up 18.6% from August 2010, when sales were depressed after the expiration of a popular tax credit for buyers, according to the National Assn. of Realtors. Although analysts had expected an increase in sales last month, many were surprised they rose as much as they did. Economists polled by Bloomberg News had estimated on average a 1.7% gain. Economist Tom Lawler expected [...]
Jones Lang LaSalle Sweeps the Board at Euromoney Real Estate Awards 2011
Jones Lang LaSalle has been honoured with 64 awards at the prestigious annual Euromoney Real Estate Awards (2011), being voted number one Global Real Estate Advisor and Consultant. This is the third time Jones Lang LaSalle has won the overall global award since the award programme was established in 2005; this year the firm also was voted top Global Advisor and Consultant for Valuation and Research. Colin Dyer, President and Chief Executive Officer of Jones Lang LaSalle said: “Recognition in the Euromoney Real Estate Awards 2011 is noteworthy because the winners are voted for [...]
This is a marathon of patience, not a speed race…
Opinion This year is definitely a better year than 2010. No one can say the opposite. But despite the positive signs, the first six months have not seen many transactions completed. The growth is still slow, after two years of “silence”. It looks like the Romanian Real Estate market has become a marathon similar to the grand prix of Monaco, where patience and careful moves overcome speed. Slow, fragile recovery This year is the first when we see the prices reaching some kind of stability. The number of investors who declare any sort of interest are 2-3 times bigger than in the past, [...]
Why I start the social campaign “Real Estate is Good”
I was not born as a Real Estate consultant, I admit it. I used to work in commerce since I was a child and then I started doing journalism. In parallel it was psychology and economy that fascinated me. Right after I entered a chapter of political campaigns in my life. And then Real Estate invaded, some 8 – 9 years ago. Only when I came to Romania did I realize what Real Estate was. Before coming here, I thought that I knew, but “all I knew was that I knew nothing at all”. Years of hard work, hundreds of clients, thousands of experiences helped me learn some things. Since [...]
After all, is Real Estate THAT bad?
Hello to everyone and I wish you to have a wonderful new month. This month is the beginning of a hotter period (in terms of temperatures) but also a more interesting one, from Real Estate point of view. Today I decided to start this month by replying to a reader of mine, quite upset I might comment. “Real Estate market is controlled by slickers, as yourself” On April 11th Mr George wrote to me: “Indeed, sir, there are paradoxes and it is the natural thing that this should happen on a market controlled by slickers, as yourself. People that are not willing [...]
Is it a paradox? Too many unsold apartments, while some developers prepare new residential projects!
On Monday I explained to you why the Romanian residential market looks (to me) like a “department store during end of sales period”. To check this text, please press here. But is there any reply to this issue? Is it possible for the market to continue moving towards an unclear direction? Can we continue having too many unsold apartments in some areas and shortage of good offers in other zones? Several new residential projects in the pipeline. A paradox? Or a solution? Since the beginning of the year I have participated in several discussions about new residential developments, or [...]
A residential market similar to department store during “end of sales period”
One of the most favourite topics of discussion during the last 2,5 years was definitely the situation in the residential market. We have written too many articles explaining why many residential developers ended up with unsold apartments, being located at wrong areas, overpriced and not properly designed and executed. Meanwhile “Prima Casa” entered into our lives and the market adjusted to a new reality. But the “feeling” across the market remains: There is too much unsold product… A “secret” that any buyer knows, but “the analysts” don’t [...]
10 + 1 new Real Estate stories that makes us wonder if they are true…
Hello. As 1st of April is the day of lies, I thought about sharing with you some stories that I heard over the last weeks (by very serious people) and you will decide if they are true or not… “Tens of major international investors are ready to enter in the Romanian market during the following months”. “There are at least 4 – 5 banks that literally sit on tons of cash and they will start injecting it in the market over the following years”. “There will be a new real estate law, which will organize the whole market, from scratch”. “The transaction [...]
Q: How did 2012 start for the residential market in Iasi?
Dan Mihoci: The real estate market is headed towards normalcy, without “sentimental” pretentions of the seller or unfounded requests from buyers with an evident need for consultancy, for both buyers and sellers. Despite the bad weather and the economic and political instability, the real estate market is an interesting chapter for everyone.
Q: In 2011, the year started with a high level of interest but few transactions. How did the market evolve ... 
