Housing affordability and its impact on middle-income households worldwide is emerging as a major concern throughout the developed world. According to the London-based consultancy Knight Frank, housing prices in the world's largest cities rose by 3 percent on average during the last year. The strongest growth was observed in Turkey where average housing prices increased by 18 percent in the last year. In contrast, across the Black Sea in the Ukraine, property prices declined by 12 percent last year. The US house price index published by the Federal Reserve Bank of St. Louis shows a similar increase in property prices, disrupted only by the global recession in 2008-09. Aside from property prices, household incomes and lending rates in a country also affect the affordability of housing. As a result, a variety of indicators investigating the affordability of property have emerged:Global House Price Index, published by Knight Frank, allows investors and developers to monitor and compare the performance of mainstream residential markets worldwide.House Price Index, published by Eurostat, measures inflation in the residential property market for multiple types of residential property. Today's dashboard features the Property Price Index, collected by Numbeo, a user-generated compilation of data about cities and countries worldwide.
(18 January 2022) In the third quarter of 2021, house prices in the eurozone rose at the fastest rate since Eurostat started recording this data in 2005.Low interest rates, supply constraints, and the boost in demand for new houses to accommodate work from home policies pushed the house price growth to the highest level since 2005, 8.4% year-over-year, in Q3 2021.House prices rose above 16% year-over-year in Q3 2021 in Lithuania, Estonia, and the Netherlands. The lowest price increases were recorded in Cyprus, Italy, and Spain — below 5% year-over-year.
The real estate world has taken its share of the burden of the COVID-19 pandemic, as people empty out of offices, hotels, and malls and work from their homes. Economic activity in construction and real-estate contracted sharply this year under the weight of the pandemic, with the largest decline yet recorded in April, according to the US Federal Reserve. LinkUp jobs data suggests the situation in the real estate industry will remain tough in June.In the three months between February and April, new private housing building permits in the United States declined 30 percent compared to January. Existing home sales also decreased 25 percent in March-April 2020.Many real estate companies have cut jobs, especially since the second half of March. In May, half of those companies featured below had laid off 30 to 90 percent of their employees. Active jobs listed have dropped by 25 percent since last fall.
Sales of new homes in the U.S. fell short of expectation as it dropped 6.9% MoM and 4.1% YoY in Jan 2019. New homes sold at a seasonally adjusted annual rate of 607,000 units down from 652,000 units in Dec 2018. The sales in the south part of the country which accounts bulk of the transaction, tumbled 15.1%, northeast and midwest experienced drop 11.4% and 28.6% respectively, whereas the west reported a gain of 27.8%. The median sales price of new home also fell 3.76% YoY, indicating the sluggish real estate market. Most analysts believe that the housing market in the US is likely to remain so through the first half of 2019 as the inventory will take around 6.6 months to clear. However, recent decline in mortgage rate and strong job market are expected to support the housing demand in coming months.
Global Transparency level is measured as follow: Tier 1: Highly Transparent - Total Composite Score: 1.00–1.96 Tier 2: Transparent - Total Composite Score: 1.97–2.65 Tier 3: Semi-Transparent - Total Composite Score: 2.66–3.50 Tier 4: Low Transparency - Total Composite Score: 3.51–4.16 Tier 5: Opaque - Total Composite Score: 4.17–5.00
The GRETI 2018 survey reveals a global real estate market that is becoming gradually more transparent; and, encouragingly, 85% of countries surveyed have registered an improvement since 2016. However, progress is still too slow in an environment where investors and businesses, as well as society at large, are demanding far higher standards and where an emergent prop tech industry is fuelling expectations of a significant improvement in transparency. Highly Transparent: The world’s leading investment destinations, pushing the boundaries of transparency. The United Kingdom leads the way. Sweden moves into the top group, while the Netherlands is one of the top improvers. Transparent: European and, increasingly, Asian markets which have strong regulation and good governance. Market fundamentals data and performance measurement are areas for improvement. Singapore, Hong Kong and Japan sit on the verge of ‘Highly Transparent’, while South Korea enters group of ‘Transparent’ markets. Semi Transparent: Dominated by large emerging markets, including the BRIC economies. These markets have made steady advancements in recent years, but need to address issues of corporate governance and regulatory enforcement if they are to progress. Dubai, Thailand and India are among the top improvers – while the major emerging markets (the ‘Big 8’) sit on the edge of the ‘Transparent’ tier as improvements plateau. Low Transparent: Emerging destinations in Africa, the Middle East and Latin America, where market tracking and real estate regulation are still nascent. Colombia, Costa Rica and Myanmar are among the global top improvers, with Myanmar the most improved market in GRETI 2018. Opaque: Emerging markets, often hampered by geopolitical and economic challenges. With limited regulatory frameworks, these markets are vulnerable to regression. A number of markets show regression, as Venezuela takes its position as the least transparent market. Reference: JLL: LaSalle Investment Management "Global Real Estate Transparency Index 2018"
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Delhi Cannaught Place appears to be the Most Wanted Place to reside in India. Find your own city data @ http://knoema.com/ICWRI2012 Source: National Housing Bank Info