Prices for resale properties in France rose in July by 0.4% over June. This ascent is mainly attributable to apartment rising prices (1.3%) while house value is still fading (-0.4%).
The average price of new homes in Shanghai rose to a record high of $2,927 per square meter during the first two weeks of August. Booming sales at two luxury developments over the period helped to establish the new record. Investors pick high-end properties as a hedge against inflation.
In the second quarter of 2009 house prices in Australia rose 3.3 per cent on the previous quarter. It`s the strongest quarterly growth recorded in house and unit prices since December 2007.
In July the cost of housing in the Netherlands lowered by 4.4% year-on-year. House sales, meanwhile, fell by 25%. But in comparison to June of 2009 the latter rose by 33%.
Apartment prices in Lithuania in June have decreased by 0.9% in five major cities of the country, to the lowest point in history of the Lithuanian housing market.
Sales of previously owned US homes in July jumped 7.2 per cent to an annual rate of 5.24 million units, the highest since August 2007. July marked the fourth straight monthly advance. This is attributable to the record number of foreclosed properties on the market.
Singapore`s private property market hits a new record with 2, 767 units sold in July. On a year-on-year comparison, it was an improvement of 206.8 percent.
Cyprus saw a 75% drop in the number of properties bought by non-Cypriots during the seven months to July in comparison to the same period last year. In the first quarter of 2009 the cost of housing on the island lowered by 1.7% - first time over the last five years.
The number of new homes being built in England rose by 63% in the second quarter of the year. Housing completions are 24% higher than Q1.
Residential construction in Sweden collapsed by 45 percent during the first half of 2009, to 6,650 units. The figure is the lowest since the crisis years of 1993-1994. The abrupt halt in construction starts paves the way for a residential housing shortage and higher house prices in the future.
The mountain pine beetle may eat into real estate prices in forestry-reliant Alberta communities of Canada. The pine-beetle infestation, which has already laid waste to large swaths of the pine forests in south central B.C., could well cause a forestry boom in resource towns as companies scramble to cut the dead trees. Such a boom could also artificially inflate property price. By 2013, pine beetles will have destroyed 80% of the marketable pine in B.C., and the boom turns to bust...