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Residential News Edition | WORLD PROPERTY JOURNAL

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Las Vegas Enjoys Record Home Prices Despite Coronavirus Outbreak

Las Vegas Enjoys Record Home Prices Despite Coronavirus Outbreak

Las Vegas Realtors are reporting this week that local Southern Nevada area home prices broke their all-time record in June 2020, despite the coronavirus pandemic and economic downturn, though fewer homes are selling compared to the same time last year. Read More »


San Francisco, Detroit Top List of U.S. Cities Black Homebuyers More Likely Denied a Mortgage

San Francisco, Detroit Top List of U.S. Cities Black Homebuyers More Likely Denied a Mortgage

15.9% of Black Americans who apply for mortgages are rejected nationwide, compared with just 7% of white Americans. Read More »

U.S. Mortgage Rates Hit Historic 50-Year Low in Early July

U.S. Mortgage Rates Hit Historic 50-Year Low in Early July

According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.07 percent, the lowest rate in the survey's history dating back to 1971. Read More »

Hong Kong's Luxury Property Prices Propped Up by Quantitative Easing

Hong Kong's Luxury Property Prices Propped Up by Quantitative Easing

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 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 July 7, 2020 9:00 AM ET

North America

Las Vegas Realtors are reporting this week that local Southern Nevada area home prices broke their all-time record in June 2020, despite the coronavirus pandemic and economic downturn, though fewer homes are selling compared to the same time last year.

15.9% of Black Americans who apply for mortgages are rejected nationwide, compared with just 7% of white Americans.

According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.07 percent, the lowest rate in the survey's history dating back to 1971.

U.S. employers added a much-larger-than-expected 4.8 million workers to payrolls last month. The U.S. unemployment rate also fell to 11.1 percent.

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 26, U.S. mortgage applications decreased 1.8 percent from one week earlier.

According to the National Association of Realtors, U.S. pending home sales mounted a record comeback in May 2020, seeing encouraging contract activity after two previous months of declines brought on by the coronavirus pandemic.

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 June 16, 2020 9:00 AM ET

Europe

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.

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.

Last Updated July 6, 2020 8:03 AM ET

Asia Pacific

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.

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.

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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