Residential property sales in Hong Kong have increased, up 9.4% from August to September but officials are keeping tax policies in place to try to keep price growth under control.
First hand transactions jumped 110%, while secondary sales declined 15%, month on month, according to the latest data from the Land Registry.
Both demand and supply remained robust in the primary market, with around 360 units launched during the mid-autumn festival holiday, says the latest monthly Hong Kong property market report from international real estate firm Knight Frank.
Housing starts in the United States rose in September, driven by the multifamily sector, but completions are not matching that hot pace, especially for lower end homes.
With demand rising but supply in the form of completions slowing, there will be more pressure on home prices to rise, according to the latest analysis report from real estate firm CoreLogic.
Global house prices have increased by a median of 4.7% year on year led by Hong Kong, Turkey, Ireland, Sweden and Australia, a new international report shows.
Overall prices have increased in 21 of the 26 countries tracked by the Economist House Price Index but growth does vary from nation to nation.
The growth is topped by Hong Kong with annual price growth of 20.8%, followed by Turkey with a rise of 18,8%, Ireland up 13.4%, Sweden up 10.3% and Australia up 7.5%.
The answer to this contradiction lies in the rising competition from online shopping and government purchases possibly boosting retail statistics.
Demand for Alpine property is rising, spurred on by a more resilient Eurozone, greater clarity over tax and the second home cap in Switzerland, as well as a weaker euro, the latest index report says.
Val d’Isere and Meribel in France have seen the biggest annual growth in property prices with a rise of 5.8% and 4.5% respectively, according to the 2015 Ski Property Index from international real estate firm Knight Frank.
Residential rental market conditions outside of capital cities in Australia remained weak over the September 2015 quarter with prices falling or remaining flat.
Weekly rents fell the most in regional Western Australia with a decrease of 2.6, they were down 2.1% in the Northern Territory and down 1.7% in Victoria. The remaining capital cities all recorded flat condition over the three months ending September 2015.
Foreign buyers have long gravitated toward the city’s historic core — the arrondissements, or districts, on either side of the Seine. On the Left Bank, that means the Seventh around the Eiffel Tower and the gallery- and boutique-lined streets in the Sixth along the Boulevard St.-Germain, which runs roughly east to west a few blocks in from the Seine.
The city’s highest real estate prices can be found in the Eighth Arrondissement on the Right Bank, home of the “Golden Triangle” of luxury shopping and hotels, followed closely by its neighbor to the west, the vast 16th arrondissement.
Even though more consumers in the United States are using the internet as a tool during their home search and are therefore more connected than ever before, says new research.
It means that home buyers are increasingly utilising the knowledge and expertise of a real estate agent, according to the study published by the National Association of Realtors.
‘Consumers have the ability to do more home buying research online and be more connected during the home search process than ever before, but research proves they are still seeing the value a Realtor® brings to the transaction, from the initial search to well after the closing,’ said NAR president Chris Polychron.
If the former chief economist of BMO is right, one of Justin Trudeau’s first challenges as prime minister will be to grapple with a slowdown in Canada’s housing market.
Sherry Cooper isn’t predicting a housing market crash, but in a note Wednesday she said that “housing has peaked” in Canada, and years of strong price growth (and household debt growth), particularly in Toronto and Vancouver, are coming to an end.
The new home building sector is the star performer of the Australian economy having seen three years in a row of growth, according to the Housing Industry Association (HIA), the voice of Australia’s residential building industry.
The latest data from the Australian Bureau of Statistics show that despite a modest decline in new dwelling commencements in the June 2015 quarter, there was still a record number of 211,976 new homes started in 2014/2015, an increase of 16.9%.
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