More good news for the US economy as construction spending in September climbed to an almost three-year high to reach an annual rate of $852 billion.

Despite the downturn in public construction this past year has seen an increase in spending on houses, apartments and private non-residential projects. According to the Associated General Contractors of America, this spending outstripped the reduction in public construction. And the firm predicts that this trend will continue despite the disruption caused by Hurricane Sandy.

Total construction spending in September rose by 0.6 percent and 7.8 percent for the year from September 2011, resulting in the highest rate since October 2009. The overall figures are comforting with private residential spending accelerating at 21 percent over the last year and private non-residential construction up 8.8 percent. Public construction contracted by 4.2 percent year-over-year.

Within the private sector new multi-family construction saw the biggest increases in spending followed closely by new single-family construction and then improvements to existing residential structures. This latter group is expected to get a huge boost from the storm reconstructions, which are already underway in New Jersey and New York.

Meanwhile construction employers in the US added 17,000 jobs in October pushing the industry’s unemployment rate down to 11.4 percent. Despite the good news overall construction employment is still down by 2.2 million compared to its peak six years ago at 7.7 million workers.

MIPIM 2013 has all the latest information on construction projects from across the globe, so make sure you head down to the Palais des Festivals, Cannes from 12-15 March, 2013. For rooms in the most centrally located hotels, or luxury rented apartments look to EAS, your trustworthy local travel agent. Not only can we organise all your accommodation needs, but we can arrange transport, nightly entertainment, restaurant reservations and even luxury yacht charters.  Click here for more information.

For the first time since 2010 investor confidence is on the rise in Europe’s three largest economies Germany, France and the UK and 2013 should see an increase in investment according to a survey by Union Investment.

The study, which involved a representative survey of 165 investment decision-makers in Germany, France and the UK, also anticipates that real estate markets in Turkey, Poland and Ireland will emerge stronger in 2013.

Investors still raised caution regarding shrinking credit markets with 70 percent expecting loan rates to rise, while others highlighted higher taxes in France as an added burden.

Some 85 percent of those surveyed said the euro crisis would lead to a stronger focus on core products, such as those with long leases, central locations and high-quality assets.

In addition only 30 percent of investors now expect a Europe-wide recession. This compares with 42 percent when the survey was last conducted. While a mere 3 percent still believe that there is real possibility of the euro-zone collapsing, compared with 12 percent previously.

The news comes on the back of positive results from Europe’s commercial real estate sector. Investment volumes in European commercial real estate hit nearly €44 billion in the fourth quarter of 2012, the highest quarterly level since 2007.

Cross border investment rose by a healthy 19 percent last year and according to property consultants Cushman and Wakefield, it could rise by 6 percent to €141 billion in 2013 despite the still-fragile economic recovery in Europe.

“Cross border investment was the biggest area of growth last year, it outpaced the domestic buyers,” explained David Hutchings, head of European research at Cushman & Wakefield. “In any country in the world you will find people shopping for property in Europe.”

Property investors are still focusing on the larger markets of France, the UK and Germany, which make up 61 percent of the market share. However, the Nordics have seen their slice of the pie increase from 15.3 percent in 2011 to 17.9 percent last year.

For more information on the health of Europe’s real estate market and construction and property news from around the world check out MIPIM 2013 held at the Palais des Festivals in Cannes, March 12-15. For all your accommodation, transportation and entertainment needs look no further than EAS, the local travel agents you can trust. Whether you’re after rooms in some of the most centrally located hotels, your own private apartment or villa, or are looking to charter a luxury yacht for upscale entertaining, we have the answers you are looking for. Click on this link to fill in our request form.

Over the past 10 years the student housing sector has grown to become a global real estate class that is now attracting attention from investors, developers and private operators, according to the latest research from property consultants Jones Lang LaSalle.

The firm’s Global Student Housing Report reveals that the student housing market is now worth more than $200 billion, while the number of students globally is expected to rise from 165 million today to 263 million by 2025, further increasing the need for new housing.

Transactions in the world’s biggest student housing markets, the UK and the US exceeded $3 billion and $2 billion respectively in 2012, over double the numbers seen in 2011.

This new demand has in part been caused by the rapid increase in the number of middle class international students from key Asian countries such as China and India. Over half of all international students now come from Asia, followed by Europe, Africa and South America. This sudden increase in demand has resulted in an undersupply of student housing.

The market for student housing is now outpacing other forms of commercial real estate with typical returns of between 11 -15 percent thanks to enrolments rising at a higher rate than supply. In addition, the sector has proved to be counter-cyclical in nature, with the number of international students growing during the global economic downturn.

The report pinpoints emerging markets in mainland Europe and Australia as key regions for growth. In Australia between 2002-2011 international enrolments into higher education almost doubled with 67 percent coming from Asian countries alone, making this and the wider Asia Pacific region areas of future growth and investment potential.

And the returns in this sector are attracting more than just the traditional developer/operators investors. The most active players of late looking to add these assets to their portfolios have been equity funds, sovereign wealth funds, pension funds and investment managers.

For more information on growing sectors of the property and construction industry head down to MIPIM 2013, March 12-15 at he Palais des Festivals, Cannes. For the best hotel rooms, rented apartments and even private yachts look to EAS for all your accommodation needs. We can also help you with restaurant bookings, nightly entertainment and all your transportation requirements. Click on this link to fill in our request form.

Investors should look to Brazil, Thailand and the USA in 2013, as the three countries will boast the fastest growing property markets according to real estate agent Crystal Investment and Real Estate.

Recession hit markets in Florida, Cleveland. Detroit and Atlanta in the US, and the emerging markets of Brazil and Pattaya, Thailand were singled out in a report by the real estate consultant as the most promising areas globally for rental returns and property price increases.

With regards to the US property market, the firm’s managing director Luke Smith said: “Due to the existing well developed and immense infrastructure in the US, which will help in the recovery of these areas, the distressed markets in these US states offer safe and tangible investments. Here it is a question of when and not if these markets will improve again.

He was equally positive about emerging markets in Brazil and Thailand, both of which have seen vast increases in tourist numbers and investment in recent years.

“Property prices in Brazil are still significantly cheaper than Western Europe and we believe the country will continue to offer great opportunities for investors for the next few years,” Smith said. “In Thailand the government is removing the red tape to enable foreign nationals to own property and invest in the east side for the first time.”

In addition, the Thai government has released plans for $72 billion of infrastructure projects over the next five years. The development work, which will include new roads and railways linking the country’s main hubs, is designed to increase tourism and further investment in the country.

Lee Chettoe, sales manager at Knight Knox International said: “The Thai condo market is booming at the moment. The increase in demand for property, particularly in the Jomtien Beach and Pattaya regions, has led to us taking on an additional six new projects this year alone, all of which have been extremely well received by our investors.”

“Over the past 12 months we have also noticed that investors are broadening their horizons and starting to look more further afield than the traditionally popular regions in Pattaya, towards the more tranquil area of Bang Saray; either looking to retire or for a more peaceful holiday destination,” Chettoe added.

For more information on global property markets in 2013 head down to MIPIM 2013, where the movers and shakers of the property world meet in Cannes. Here at EAS we can promise you the best hotel rooms, the most sought-after rented apartments and even the odd luxury yacht or two. We’ll also take care of your entertainment and transport needs. With our expert knowledge you can be sure your stay will be one you don’t forget. Click on this link to fill in our request form.

In a bid to curb record property price rises Hong Kong’s government has announced it will supply land for the construction of 3,000 new apartments in the coming quarter.

Asia’s financial powerhouse has seen house prices explode in 2012, with record rises of 20 percent over the last 12 months. Earlier this week the government revealed plans to tender six plots of residential land for the creation of 3,000 apartments.

Hong Kong has done much over the past couple of years to curb its red-hot property market, which has outpriced many local residents. Measures have included increasing stamp duty for short-term transactions, taxing international buyers and increasing land supply.

Paul Chan, Hong Kong’s secretary for development stressed the government’s desire to increase the supply of housing saying that it had already sold 18 sites for 5,100 apartments in the first three quarters of the current fiscal year.

The latest move by the Hong Kong government follows stern advice from the International Monetary Fund that Hong Kong could be in the midst of a property bubble and needs to do more to calm the situation. The fund noted that half of the outstanding loans in the city are currently from the property sector, but added that the probability of a price correction large enough to generate major macroeconomic and financial consequences is “fairly low” in the short term.

Two of the six plots, which are to be supplied in the final quarter, are to be reserved for the apartments of local residents. “Given that land resources is a scarce commodity in Hong Kong, the priority is to always give the top priority to Hong Kong citizens,” Chan said.

For more information on the world’s real estate markets make sure you don’t miss out on the chance to mix with the movers and shakers of the global property and construction industries at MIPIM 2013 in Cannes. If you’re after the best hotel rooms, rented apartments and even luxury, private yachts in the heart of the city, look to EAS for all your accommodation needs. We can also help you with restaurant bookings, nightly entertainment and will organise all your transportation requirements. Click on this link to fill in our request form.

Yet more good news for the US housing and construction industries as home building, prices and sales all trended upwards during 2012 according to a market report by the Royal Institution of Chartered Surveyors.

The institution has also predicted a rise of 5 percent in the value of homes in 2013 and believes that both new home and existing home sales will continue to trend upwards in 2013. Over the past year new home sales have risen 17 percent and home building is sitting at its highest level since the middle of 2008.

The report also highlights a 3 percent annual growth in home prices up to October 2012. This is significant as it is the first annual gain post recession. However, it is important to note that the recovery is highly fragmented with some cities seeing rising prices whilst others continue to see declines.

Phoenix, which was one of the cities hardest hit by the recession, has recorded 20 percent gains, while cities that saw less extreme price declines such as New York and Chicago are, as yet struggling to record any significant price growth.

“We are cautiously optimistic about the state of the housing market. Indeed, encouraging signs are emerging such as rising home values, construction activity and sales. Demand is being supported by sustained, albeit modest, job growth and record affordability, and reflects increasing consumer confidence and household spending,” the report says.

There are, however, still headwinds that the housing market in the US must overcome the report adds. Home values are still almost a third lower than their pre-recession peak. The number of households whose mortgage is greater in value than their home now stands at 10.8 million, while home sales, existing and new, remain 30 percent and 70 percent below their pre-recession peaks respectively.

Other downsides include weak credit growth and the fragile labour market, which are the largest obstacles to a sustainable recovery. “Although the housing market has ploughed along in spite of the weak macro environment, this can only be sustained for so long without support from stronger job growth and improved lending conditions,” the report adds.

To see the actual state of the US housing and construction markets as well as other global markets and the latest international construction projects head down to MIPIM 2013, Cannes, 12-15 March. For the city’s best hotels, rented apartments and villas look no further than EAS, the local travel agent you can rely on. We have rooms in the most centrally located hotels, beach apartments with sea views, penthouses and even luxury loft apartments. We also offer yacht charters for those after something a little bit different and can organise all your transportation, dining and entertainment needs. Click on this link to fill in our request form.

In a further attempt to provide more housing and bring down the cost of homes, government officials in Hong Kong have revealed they are exploring the idea of building an artificial island outside Victoria Harbour.

The proposal is one of 10 new measures the government is hoping to implement as a way of increasing land supply in the crowded city by 18 percent over five years. At present the plan would reclaim six square kilometres of land outside the harbour. The government is looking at an area in the waters between Hong Kong and Lantau Islands to see if the idea is feasible.

Other measures hoping to be introduced by the government include plans to build a new satellite town in the New Territories North. In the short to medium-term 3 square kilometres of land will be made available for housing with enough space for 129,000 units. The government has also hinted at lifting building restrictions in the Pok Fu Lam district.

Hong Kong’s chief executive Chun-Ying Y Leung who is the brains behind the plans said: “To respond more flexibly to society’s needs for land the government is determined to develop new land extensively to build up an abundant land reserve that can more than meet the short-term demand. That way, the reserve can be used to meet future demand in a timely manner.”

However not everyone thinks the ambitious plans will be completed in the time frame needed. Property advisor Nicholas Brooke who regularly advises Leung sees a number of hurdles that will need to be overcome. He said: “If you look at the plan that he’s mapped out, with every site that he wants to address, it faces challenges either with infrastructure planning or modifications, so the potential for slippage is quite high. Supply could remain tight even longer than in the short or medium-term.”

House prices in Hong Kong are expected to rise by five percent this year and any correction in prices will not be seen until the supply of housing increases or interest rates go up in the US, as the Hong Kong dollar is pegged to the US dollar. That means that a correction won’t likely take place until 2015.

For more information on construction projects in Hong Kong head down to MIPIM 2013, March 12-15 at the Palais des Festivals, Cannes. Here at EAS we can promise you the best hotel rooms, the most sought-after rented apartments and even the odd luxury yacht or two. With our expert knowledge we’ll make sure your stay will be one you don’t forget. Click on this link to fill in our request form.