USA: the volume of new housing construction has started to grow
Israel: property prices increase for the ninth consecutive month. USA: the volume of new housing construction has started to grow. A new tax on property is implemented in Egypt.
In October, the cost of residential property on Canadian primary market has climbed up by 0.3%, compared to the preceding month. The indicator has increased most significantly in Quebec, and Vancouver. In annual terms, however, the figure has declined by 2.1%.
In October the average cost of Israeli residential property has increased by 2.2%, in comparison to September. This is the ninth consecutive monthly increase of local home prices.
Property prices on the primary market of Romanian capital - Bucharest - have declined by 7.3% over the period from January to October. According to the official index of housing prices, this indicator, which, had stood at the level of € 1 778 per sq. m. at the beginning of the year, has declined to €1,648 per a sq. m by October.
During January-September the average sales price for Greek apartments has decreased by 3.8%, compared to the same period last year. Properties built five years ago have depreciated by 4.7%, while prices for new apartments have plunged by 2.4%.
Over the first half of 2009, buying activity on Italian property market has plunged by
13.6%, compared to the same period last year. The volume of new mortgage lending has decreased by 13.1%, year-on-year, over the same period.
The number of properties built in Croatia during the first nine months of 2009 has plummeted by 35.4%, compared to the same period last year. 8.5 thousand flats were under construction in Croatia during the specified period.
The quantity of building permits issued in Finland over October has soared by 46%, compared to the same period last year. More specifically: in October, Finnish authorities have approved the construction of 2,206 residential properties. The sharpest increase (99%) has been observed in the segment of apartment buildings.
The number of new housing starts in the U.S. has increased by 8.9%, October-to- November, up to an annual level of 574 thousand properties. Over the same period, the quantity of granted building permits has climbed up by 6%, up to an annual level of 584 thousand units
Effective January, 1 2010 owners of Egyptian property worth 500 thousand Egyptian pounds ($91.3 thousand) and up would be obliged to pay an annual tax. The tax would amount to 30 pounds ($5.5) for properties worth 500 thousand Egyptian pounds, while working out 660 pounds ($120.5) per year for 1-million-pound properties.
According to the forecast of the British consulting agency DTZ, global commercial property sales would increase twofold in 2010, compared to this year, and are expected to reach the aggregative value of $315 billion. According to the agency's experts, about a half of all investments would be allocated in Europe, 27% in Asia, and roughly 23% in North and South America.
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