Apartment prices in Sweden fell 2 percent in the three-month period June through August compared to the same period a year ago, figures from an association of Swedish real estate agents, Svensk Maklarstatistik, showed on Wednesday.
I have been in Dubai this week, presenting the lower-forever thesis I outlined here last Sunday and testing out my market view on a different audience.
I always enjoy trips to the UAE. The ambition of both Dubai and its oil rich neighbour Abu Dhabi never fails to impress, even if the overwhelming impression is of a film set that might be packed up and put back into storage at any moment.
New Zealand, Turkey and Canada have seen the biggest leap in house prices over the past year, according to a new global ranking.
The Chilean economy has slowed in recent years, partly because of a steep drop in the price of copper, a key industry for Chile. After hitting a high in 2013, the gross domestic product has been declining since.
Demand has remained strong for high-end properties, but sales have slumped for mid- and lower-priced homes, agents said. This year the government also imposed stricter lending requirements, capping loans at 80 percent of the value of a home, which has dampened the domestic market, agents said.
Spain's convalescing construction sector was hoping to move on from a national economic crisis which at its height saw abandoned building sites and bankrupt infrastructure projects littering the landscape.
The Bahamas’ luxury real estate market is segmented, with different islands, neighborhoods and developments all fetching very different prices, agents said. In general, however, it is performing well this year, they said.
John Christie, the managing broker of H.G. Christie, a real estate agency that has its main offices in Nassau and on Grand Bahama, said the luxury market was not greatly affected by the global economic downturn. Sales slowed down but home prices did not drop, he said, adding that since 2013, prices have risen 5 percent to 10 percent a year, though not across the board. Homes are also selling faster this year.
Canada's economic output shrank by its largest percentage since the global economic crisis as the country's oil sector continued to struggle.
The Canadian government said gross domestic product (GDP) in the second quarter shrank by 1.6%, its largest loss since 2009.
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