Poland: over Q1, national property prices have declined by 0.2%, compared to the preceding quarter. In Q4 & Q3 2009 the pace of depreciation was higher. Experts note that price stabilization is due to improving conditions in mortgage lending.
Related article: Experts have called the minimum cost of housingRomania: local authorities plan to increase property taxes for owners of two or more residential properties. In case if property is not rented-out, owner of an “extra” housing unit would pay 15% larger taxes for it. Tax for the second “extra” housing unit will be increased by 50%, by 75% for the third, and by a hundred percent for any other “extra” residential properties. For homeowners, who rent-out their units, tax on first and second “extra” properties will be increased by 30% and 100%, respectively, and would work out
200% for the third and subsequent units.
Greece: in Q1, Greek apartment prices have declined by 2.4%, compared to the preceding quarter. In annual terms, the decline amounted to 2.6%. During January-March, 22.1 thousand housing transactions were registered in the state. This is 8.1% less than over the preceding three-month period, but 38.5% more than in January-March 2009.
Croatia: in May, the average value of residential property in the country has decreased by 0.4%, compared to the preceding month. In comparison with May 2009, the figure has declined by 5%.
Latvia: the average apartment prices in Latvian capital have increased by roughly 1%, May-to-April. Since September 2009, when the two-year-long price decline has finally seized, and was replaced by growth, typical apartments have already appreciated by
Estonia: in Q1 the number of transactions with local apartments has decreased by 14%, compared to the preceding quarter. However, in comparison with Q1 2009, the number of transactions has climbed up by 19%.
Australia: in April, residential property has appreciated by 0.2%, compared to the preceding month. The growth was more pronounced in previous months. According to the experts, rapid price increases are not expected in short term.
Canada: June 1, the country’s central bank has increased its benchmark interest rate up to 0.5%. Analysts of Toronto-Dominion Bank expect average Canadian housing
prices to decrease by 2.8% over 2010, partly due to an increase of the benchmark rate.
U.K.: according to the Halifax mortgage bank, over May, national housing prices have declined by 0.4%, compared to April. Previously, other authoritative sources have reported of a slowdown in growth of this indicator, upon the results of the preceding month. Bank economists claim that this indicates a slowing of market activity and correlates with their assessments that, in general, over 2010 the cost of British housing will remain intact in yearly calculations.