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Residential News Edition | WORLD PROPERTY JOURNAL

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Coronavirus Lockdown Severely Felt by California's Housing Market

Coronavirus Lockdown Severely Felt by California's Housing Market

Based on recent data from the California Association of Realtors, California home sales dropped sharply in April 2020 from both the previous month and year as the housing market began to feel the full impact of the coronavirus outbreak and the state's stay-at-home order. Read More »


Mortgage Refi's Comprise Over Half of All U.S. Home Loans Made in Q1

Mortgage Refi's Comprise Over Half of All U.S. Home Loans Made in Q1

1.07 million refinance mortgages secured by residential property (1 to 4 units) were originated in the first quarter of 2020 in the United States. That figure was down 16% from Q4 2019. Read More »

Realtors Report U.S. Home Sales Implode in April, Down 17.8 Percent from Coronavirus

Realtors Report U.S. Home Sales Implode in April, Down 17.8 Percent from Coronavirus

Existing-home sales dropped in April 2020, continuing what is now a two-month skid in sales brought on by the coronavirus pandemic. Read More »

Severely Impacted by COVID-19, New York City Residential Sales Slide in Q1

Severely Impacted by COVID-19, New York City Residential Sales Slide in Q1

The average sales price of a home (condominium, cooperative, and one-to-three family home) in New York City in Q1 2020 was $1.01 million, which remains flat year-over-year. Read More »


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Luxury Property Spotlight

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

In the heart of breathtaking Paradise Island adjacent to Nassau, Bahamas, a very rare residential opportunity will soon be available. Opportunities like this are extremely limited on this 685 acre island paradise. Read More »


Regional Residential Real Estate News

Last Updated May 27, 2020 9:00 AM ET

North America

Based on recent data from the California Association of Realtors, California home sales dropped sharply in April 2020 from both the previous month and year as the housing market began to feel the full impact of the coronavirus outbreak and the state's stay-at-home order.

Home rental prices slowed more than they had in at least five years when the coronavirus pandemic hit. But the for-sale market continues to heat up after a slower early April.

Property broker Redfin is reporting this week that the number of newly built homes on the market fell just 10.5% year over year in April, the smallest decline in 2020 to date.

1.07 million refinance mortgages secured by residential property (1 to 4 units) were originated in the first quarter of 2020 in the United States. That figure was down 16% from Q4 2019.

Existing-home sales dropped in April 2020, continuing what is now a two-month skid in sales brought on by the coronavirus pandemic.

The average sales price of a home (condominium, cooperative, and one-to-three family home) in New York City in Q1 2020 was $1.01 million, which remains flat year-over-year.

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 May 11, 2020 9:00 AM ET

Europe

The total potential spend for all residential buyers registered with Knight Frank in London was £52 billion.

As most of the world's economies are reeling from the impact of the corona crisis, the effects on the European rental markets are starting to show - with previously accelerating rental prices coming to a stop.

Covid-19 and the knock-on impact of the government lockdown, will result in 56,000 fewer homes being delivered this year, representing a 35 percent drop.

Demand for London rental property has picked up in April 2020, as prospective tenants begin to plan for life after the lockdown.

Knight Frank is now forecasting the UK's housing market to decline 38 percent from 2019's home sales, to an estimated 734,000 transactions for the full year (2020).

Ireland property portal Daft.ie's newly released Property Sales Report says the number of homes listed for sale in Ireland has fallen dramatically, in the wake of the Covid-19 pandemic and the restrictions of everyday life.

Last Updated April 8, 2020 9:00 AM ET

Asia Pacific

Hong Kong's unemployment rate has increased progressively to a nine-year high amid the COVID-19 pandemic and social tension. The rising unemployment rate in the city is putting pressure on local housing prices.

Singapore-based real estate consultant Edmund Tie is reporting this week that in 2018, the price gap between new and resale private homes stood at a considerable 35%.

Only 40 apartment flats from two new mass residential projects have been launched in the primary market one month after the Chinese New Year (January 25, 2020), compared to the past three years' average of around 530 flats.

To understand the full impact of the Coronavirus epidemic on Chinese cross-border real estate buying in overseas markets, it helps to first understand the situation for these buyers at home, and the original source market of the virus, China.

A muted domestic economy, ongoing trade wars and other geopolitical tensions were all contributors to declining home sales in Singapore in 2019.

According to JLL in its Macau Year-end Property Review 2019, impacted by the cautious investment sentiment caused by the global economic uncertainty, all property sectors in Macau experienced a significant fall in transaction volume last year.

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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