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Residential News Edition | WORLD PROPERTY JOURNAL

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Paris Named Top Global Prime Residential Market for 2020, Berlin and Miami Close Behind

Paris Named Top Global Prime Residential Market for 2020, Berlin and Miami Close Behind

According to a new report by global real estate consultant Knight Frank, with capital growth in most prime residential markets around the world shrinking in 2019, the global economic landscape looks markedly different from that a year ago. Read More »


Developer Bids for Hong Kong's Kai Tak Site Drop 67 Percent Amid Political Unrest

Developer Bids for Hong Kong's Kai Tak Site Drop 67 Percent Amid Political Unrest

The average number of bidders for residential sites in Kai Tak decreased by 67% to just 5.5 in 2019 from two years ago. Read More »

Mortgage Applications in U.S. Dip in Late November

Mortgage Applications in U.S. Dip in Late November

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending November 29, 2019, mortgage applications decreased 9.2 percent from one week earlier. This week's results include an adjustment for the Thanksgiving holiday. Read More »

Prime Waterfront Properties Enjoy 63 Percent Price Premium in Australia

Prime Waterfront Properties Enjoy 63 Percent Price Premium in Australia

According to Knight Frank's latest Australian Prime Waterfront Index, prime absolute waterfront properties in Australia are worth up to 63% more than their inland counterparts on average. Read More »


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Luxury Property Spotlight

Grand Tetons Wonderland - (Driggs, Idaho)

Grand Tetons Wonderland - (Driggs, Idaho)

Huntsman Springs is golf and club community developed by Jon Huntsman, Sr. A place of serenity and beauty in the hitherto undeveloped Teton Valley of Western Idaho. Read More »


Regional Residential Real Estate News

Last Updated December 5, 2019 8:06 AM ET

North America

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending November 29, 2019, mortgage applications decreased 9.2 percent from one week earlier. This week's results include an adjustment for the Thanksgiving holiday.

The majority of single-family and multifamily housing production in the nation is occurring in counties with the greatest concentration of millennials.

According to CoreLogic's latest Home Price Index for October 2019, U.S. home prices rose both year over year and month over month. Home prices increased nationally by 3.5% from October 2018. On a month-over-month basis, prices increased by 0.5% in October 2019.

According to new research by Zillow, Baby Boomers in the U.S. are set to leave their homes at record levels in the coming years, freeing inventory in what has been an increasingly tight market since the economic recovery began.

The National Association of Realtors is reporting this week that pending home sales in the U.S. retreated in October 2019, taking a slight step back after two prior months of increases.

According to ATTOM Data Solutions newly released its annual analysis of the best days of the year to buy a U.S. home, the 3 best days to buy a home at a discount are all in the month of December.

Last Updated June 13, 2019 9:03 AM ET

Latin America

Slovenia is home to the world's fastest rising house prices with average values accelerating 18.2% year-on-year. Falling unemployment, low interest rates and until recently, limited supply, are behind the strong price growth.

Panama, the winner of the 2019 Global Retirement Index, has been a constant in the Index, but this year marks the 10th time it's reached the #1 spot--climbing from third place to scoop the top prize.

According to InternationalLiving.com's 2018 Global Retirement Index, Costa Rica takes the top spot for the first time in the index's history.

According to InternationalLiving.com's recently released 2017 Global Retirement Index, the top retirement destination in the world this year now goes to Mexico.

According to InternationalLiving.com's 2017 Global Retirement Index, Mexico gets top marks as the best place to retire based on cost of living, retiree benefits, climate, healthcare, and more.

According to InternationalLiving.com, there has been a 160% surge in online searches for terms like "move overseas" and "expats overseas" post Trump election victory this week.

Last Updated December 6, 2019 8:30 AM ET

Europe

According to a new report by global real estate consultant Knight Frank, with capital growth in most prime residential markets around the world shrinking in 2019, the global economic landscape looks markedly different from that a year ago.

According to the latest quarterly Rental Report by Daft.ie, residential rents rose by an average of 5.2% nationwide in the year to September 2019. This marks the lowest rate of rental inflation across the country since the second quarter of 2013.

International property consultant Knight Frank is reporting this week that political uncertainty in the UK continues to dominate sentiment in prime London residential markets in final months of 2019.

According to international property consultant Knight Frank, demand for the acquisition of prime London property continues to be negatively influenced by political events in 2019.

According to Daft.ie, Ireland housing prices in the third quarter of 2019 were just 0.1% higher than a year previously, effectively marking the end of six years of rising housing prices.

UK house prices remained flat in August 2019 to leave nationwide annual growth at 0.6%. Savills now expects average house price growth to be flat in 2019, down from the prediction of 1.5% growth predicted last November 2018.

Last Updated December 5, 2019 8:30 AM ET

Asia Pacific

The average number of bidders for residential sites in Kai Tak decreased by 67% to just 5.5 in 2019 from two years ago.

According to Knight Frank's latest Australian Prime Waterfront Index, prime absolute waterfront properties in Australia are worth up to 63% more than their inland counterparts on average.

Singapore's non-landed private residential sales continued to grow for the second consecutive quarter, with new sales in Q3 2019 reaching 3,198 units, up 49.2 per cent from Q2 2019.

According to Knight Frank's latest research, across the major Australian cities, development sites suitable for high-density continue to be the overall preferred option for developers.

Property developers are speeding up the launch of new residential projects and lower asking prices to maintain sell-through rates ahead of the implementation of the much heralded vacancy tax.

Hong Kong's current political crisis and economic uncertainty could make almost anyone despair for the future of the property market in this Special Administrative Region of China.

Last Updated October 22, 2019 9:02 AM ET

Middle East and Africa Pacific

Chinese property investment in the UAE has slowed in the third quarter of 2019. The growth rate tapered off in the third quarter and was down 15% compared to Q3 2018, but enquiry levels remain healthy.

According to the Property Monitor's latest Dubai House Price Index, the average annual house price in Dubai decreased by 12% in March 2019, with some communities registering even higher price declines.

According to the latest Dubai House Price Index, the average annual home price in Dubai decreased by 10.6% in February 2019, with some communities registering even higher price declines.

The Abu Dhabi property market heavily favored renters and buyers in Q1 of 2018, with market data showing price decreases in all areas. both apartments and villas across the sales and rental sectors became increasingly affordable in Q1.

Residential rents across Dubai registered no change during the first quarter of 2018, helping improve the annual rate of change to -3.1%, from -7.7% at the end of last year.

According to property portal Bayut, Al Reem Island is the most in-demand area among Abu Dhabi tenants this year with studios, 1-beds and 2-beds commanding AED 60k, 82k and 120k, respectively, (14% decline from 2016).

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