
Global housing market downturn gathering pace
The world’s housing downturn is gathering momentum, according to the latest world-wide survey of house price indices prepared by the Global Property Guide.
The world’s housing downturn is gathering momentum, according to the latest world-wide survey of house price indices prepared by the Global Property Guide.
The ever-increasing housing needs in urban centers have caused home prices to shoot up to extremely unaffordable levels.
Tata Sons will reportedly infuse Rs.500 crore into the group’s real estate arm, Tata Housing Development Company, through a fresh issue of equity shares, the company sources said.
A report by real estate firm Knight Frank says worldwide mainstream house prices marginally avoided falling into negative territory with prices rising on average by 0.1% in the three months to June 2011 and by 1.7% over a 12-month period.
Ever since the National Housing Bank (NHB) started preparing residex – an index for tracking the prices of residential properties in 2007, Chennai has been in the news for steep increase in residential prices.
Hospitality firm Lemon Tree Hotels is foraying into real estate, with plans to invest over Rs.1,400 crore, to launch housing projects in India in partnership with US-based investment firm Warburg Pincus.
Budget housing is fast becoming big business with more and more real estate companies trying to please the masses with pocket-friendly offerings.
Track2Realty: The global house price boom continued during the year to Q1 (first quarter) 2014, gathering pace. Despite strongly rising housing markets in Taiwan and the Philippines, the momentum seems to be passing momentarily from Asia, where interventionist authorities have slowed housing markets in Hong Kong, Singapore and China. Instead, action is shifting to the Pacific, the Gulf, and (less forcefully) to Europe, which are all seeing strong price rises.
Track2Realty Exclusive Yearly Analysis: India has led the list of top-performing housing markets globally with a 284 per cent real rise in prices since 2001, which is equivalent to an average annual rise of 14 per cent, according to the Lloyds TSB International Global Housing Market Review.
The world’s housing markets moved clearly down during the year to the first quarter of 2012, according to the Global Property Guide’s latest house price indices survey. House prices fell in 24 countries, of the 36 countries for which quarterly house price statistics are available, and rose in only 12 countries.