“Global housing markets take a turn for the worse”, says the Global Property Guide. Its latest survey of international house prices shows they are falling in a growing number of countries, including Britain and New Zealand which were recording increases this time last year.
The Eastern hemisphere continues to do better than the West. Hong Kong tops the table (up 19 per cent), followed by Singapore (up 8 per cent). Both rates of growth are slower than one year ago.
There are some surprises. Thailand's property market, which had been blighted by price falls for several years, has turned positive, with prices rising 4.6 per cent, year-on-year. Now, it is previously boom boom China's turn to be come the laggard of Asia, recording a 3.5 per cent fall in property values.
Meanwhile, in Europe, the bounce-back in the Baltic states has slowed, while prices continue to fall in Ireland, Spain and Portugal. Norway is the region's strongest market, recording a 6 per cent increase. France and Germany are treading water.
Interestingly, Austria continues to defy international trends. House prices in its capital, Vienna, have increased 6.5 per cent, which means this is the seventh consecutive year of increases.
Prices have turned negative in Australia and New Zealand, and they are falling in the United States. Price rises have slowed in Canada.
http://globalpropertynews.blogspot.com
All The World's a Home
No comments:
Post a Comment