International property consultant Knight Frank reported this week that prime central London property prices continued their annual decline for the third consecutive month in January 2021 at 4.3%, indicating a holding pattern while international travel restrictions remain in place.
Global property consultant CBRE is reporting that worldwide commercial real estate investment increased by 84% quarter-over-quarter in Q4 to $290 billion but was down by 20% from Q4 2019.
According to global hotel consultancy HVS, insolvencies and job losses in the UK's hotel sector caused by the pandemic are likely to increase through 2021 as businesses face a very tough year ahead.
The UK's Country House market finished the year as it began after the market reopened in May 2020, with high-value properties proving to be the strongest performer during the fourth quarter.
The annual rate of home price growth (worldwide) increased between Q2 and Q3 2020, from 4.1% to 4.7%, and 18 international cities saw prices rise by more than 10% year-on year, up from 16 in Q2 2020.
Posted on September 14, 2020
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