The Hong Kong property market is expected to take a dive next year with property prices and sales predicted to decline. Knight Frank, a property consultancy agency, has released its forecasts for the Hong Kong market in 2014 and expects to see transactions fall to 45,000-50,000 for the year. This year saw sales reach between 52,000 and 55,000, but it is likely that the continuation of current cooling...
House prices in the US have seen a year-on-year rise for the 20th consecutive month, new data has shown. According to propertywire.com, research from CoreLogic has revealed house price value is continuing to increase but at a slowing rate as the Christmas holidays approach. Mark Fleming, chief economist for CoreLogic, said that a slowdown isn't necessarily a bad thing. "Based on our pending HPI (House...
Property professionals in Cyprus have reacted with cautious optimism after new figures reveal the island's property slump could be on the verge of reversing, news.cyprus-property-buyers.com reports. Whilst the number of new contracts deposited at the Cypriot Land Registry still posted a decline during the most part of 2013, it was a decidedly less sharp drop than in recent years. Figures published by the...
The Australian property market has experienced significant growth in recent months but all this could be coming to an end, according to the latest figures released by RP Data-Rismark. The data released revealed that house prices in Sydney grew just 0.1 per cent over November, after previously growing at least one per cent each month in the past six months, with the exception of August. Another key city in...
A new study has proved that Britons who plan on snapping up property in a foreign destination would prefer to remain in Europe. A poll from the Overseas Guide Company (OGC), which provides advice for people considering the purchase of an overseas home, suggests that people would still want to be close to Britain despite emigrating somewhere else. According to readings cited by deccanchronicle.com,...
An improvement in tourism prospects for the Bahamas is also set to have a positive effect on its housing industry, twtrp.jp reports. The Bahamas have long been a favourite tourist spot for travellers from across the world. Now, with holiday bookings to the islands buoyant, it could also soon become a property hotspot. Whilst the archipelago (which is made up of around 700 islands) has no official property...
Around a fifth of Brits have taken the plunge and bought an overseas property, localuknews.co.uk reports. New research conducted for the Telegraph Weekly World Edition found that around 20 per cent of Brits now own a foreign property, be it for permanent residence or as a holiday home. Not only that, this figure could be set to rise further still over the coming years, as a consistently strong pound...
Florida's real estate market is continuing to do well, as prices for condos and homes in Miami have shot up this year, new figures show. According to propertywire.com, figures from the Miami Association of Realtors have shown that the median sale price for a Miami condo has increased from $145,000 to $170,000, a rise of 17.2 per cent in the space of a year. Single family homes are doing even better,...
The number of approved new builds in Australia fell slightly in October but experts remain optimistic. According to propertywire.com, data from the Australian Bureau of Statistics (ABS) revealed that residential building approvals fell by 1.8 per cent last month. Despite this, approvals are at their second highest level since March 2010, Harley Dale, chief economist at the Housing Industry Association...
Hong Kong has reported the largest increase in property prices, according to the latest global house price index from the International Monetary Fund (IMF). According to the IMF report, asking prices in Hong Kong rose by 14.6 per cent in the second quarter of this year, when compared with the same quarter in 2012. According to propertywire.com, global house prices increased overall, but some real estate...