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Residential News Edition | WORLD PROPERTY JOURNAL

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Urban Rent Slowdown From COVID Signals Consumers New Interest in Suburbs

Urban Rent Slowdown From COVID Signals Consumers New Interest in Suburbs

Based on new research by Zillow, residential rent growth in the U.S. hit the brakes this spring due to the Coronavirus outbreak. In addition, rent prices in urban areas have slowed more than those in suburban areas, signaling that renters' preferred location in a COVID-19 world is now tilting toward the suburbs. Read More »


Mortgage Loans in Forbearance Decreases to 7.67 Percent in U.S.

Mortgage Loans in Forbearance Decreases to 7.67 Percent in U.S.

The total number of loans now in forbearance decreased by 7 basis points from 7.74% of servicers' portfolio volume in the prior week to 7.67% as of July 26, 2020. Read More »

U.S. Condo Prices Dip in June, Sales Down 31 Percent Annually from Coronavirus

U.S. Condo Prices Dip in June, Sales Down 31 Percent Annually from Coronavirus

Redfin is reporting this week that condo sale prices in the U.S. dropped 1.4% year over year to a median of $252,000 in June 2020. Read More »

New Hong Kong Real Estate Projects Postponed by Third COVID-19 Wave

New Hong Kong Real Estate Projects Postponed by Third COVID-19 Wave

Residential sales are anticipated to fall sharply in the short run, as new projects slated for sales will likely be postponed when the third wave of COVID-19 continues to hit the city. Read More »


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Luxury Property Spotlight

Harbor Place at Safety Harbor, The Jewel of Tampa Bay

Harbor Place at Safety Harbor, The Jewel of Tampa Bay

The town of Safety Harbor is a secret little hideaway known as the Jewel of Tampa Bay. Safety Harbor is neighbored by the major city of Clearwater, Florida. Read More »


Regional Residential Real Estate News

Last Updated August 5, 2020 9:00 AM ET

North America

Based on new research by Zillow, residential rent growth in the U.S. hit the brakes this spring due to the Coronavirus outbreak. In addition, rent prices in urban areas have slowed more than those in suburban areas, signaling that renters' preferred location in a COVID-19 world is now tilting toward the suburbs.

According to the Miami Association of Realtors, Palm Beach County median prices increased year-over-year in June 2020 as home sales continued trending upward despite the global COVID-19 situation.

Based on CoreLogic's latest Home Price Index for June, U.S. home prices increased by 4.9% in June 2020, compared with June 2019. Month over month, home prices increased 1%, compared with May of this year, the fastest monthly gain for the month of June since 2013.

The total number of loans now in forbearance decreased by 7 basis points from 7.74% of servicers' portfolio volume in the prior week to 7.67% as of July 26, 2020.

Redfin is reporting this week that condo sale prices in the U.S. dropped 1.4% year over year to a median of $252,000 in June 2020.

Record low 165,530 U.S. foreclosure filing recorded in first half of 2020, as 13 million evictions loom later this year. Down 44 percent from the same time period a year ago.

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 July 22, 2020 9:00 AM ET

Europe

While early signs of the impact of the Covid-19 pandemic on rental prices were already noticeable in the first quarter of 2020, the effects of the travel ban, which was valid from mid-March, are now fully visible.

A number of global cities are seeing sales volumes continue to recover with April looking to be the low point for residential activity.

Country houses valued at £5m-plus saw the strongest price growth of any property type in the UK in the three months to June, due to interest in country living and the greater ability of buyers in higher-price brackets to transact.

The new monthly report gives key figures on the health of both sale and rental markets, with figures showing a 0.2% rise in rents nationwide in the year to June 2020.

Home purchase offers are being accepted at record rates in UK property markets as traction returns and downwards pressure on prices eases.

According to a new Daft.ie Housing Market Report released today, residential sale prices rose by an average of 3.7% in May 2020, having fallen by 5.5% in April 2020.

Last Updated July 31, 2020 7:40 AM ET

Asia Pacific

Residential sales are anticipated to fall sharply in the short run, as new projects slated for sales will likely be postponed when the third wave of COVID-19 continues to hit the city.

Hong Kong's luxury residential market gained momentum in May as quantitative easing started to take effect after a relatively quiet period since Christmas/New Year

The average annual price appreciation for all 150 cities tracked by the latest Global Residential Cities Index was 4.3 percent

Overall private home prices in Singapore fell by 1.0 per cent quarter-on-quarter (q-o-q) in Q1 2020, according to their URA All Residential Property Price Index.

According to JLL's latest Residential Market Monitor Report, Hong Kong's luxury residential properties face a double whammy from the weakening leasing and buying demand.

The price fall in mass residential is milder than that of office and retail during the market downturn.

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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