USA: a sharp growth is registered in sales of finished housing
Riga and Tallinn: property markets have probably bottomed out. Canada: the number of transactions with secondary housing is expected to break records in 2010. USA: a sharp growth is registered in sales of finished housing.
ESTONIA: the average cost of transactions with apartments in Tallinn has climbed up by
4.5%, January-to-December. According to the analytics from the Pindi Kinnisvara company, the growth of the median transaction prices has been driven by an increase in demand for more expensive properties. In its own turn, such trend demonstrates that the market of the capital has bottomed out, and buyers wait for a price increase.
LATVIA: in January, apartment rentals in the capital city of Riga have remained unchanged in comparison to December. According to the experts of the Latio realtor agency, rental prices are unlikely to increase. This may speak for the bottoming-out of the market.
FINLAND: in Q4 2009, rental rates for Finnish residential properties have climbed up by
1.6%, compared to the preceding quarter. Over the same period, prices for primary and secondary housing have increased by 2% and 2.8%, respectively.
SPAIN: in December, the number of transactions with Spanish secondary housing has climbed up by 4.3%, compared with the same period in 2008. In general, the yearly decline in residential property sales, registered in December, has amounted to 0.3%, which may indicate certain stabilization of the market.
USA: over Q4, the volume of finished housing sales in the country has soared by 13.9%, compared to Q3, while increasing by 27.2%, in comparison to Q4 2008, the National Association of Realtors reports. According to the Association's chief economist, Lawrence Yun, such rapid growth in sales volumes is due to tax incentives for buyers and record low interest rates on mortgages.
CANADA: according to Canadian Real Estate Association (CREA), 2010 would become a record-breaking year, in terms of secondary housing sales in the country. Compared to
2009, the figure may increase by 13.3%. Mainly, according to the experts, the growth in sales will be driven by low interest rates on mortgages. Meanwhile, new housing in the country continues to appreciate. In December, the cost of new residential property has climbed up by 0.4%, compared with November. This figure has been growing steadily since July.
BELGIUM: the results of 2009 were summed up on the housing market of Brussels. Over the past year, residential property prices have decreased by 4.5%. Cottages and retail properties have demonstrated the most significant depreciation. An slight increase in prices, which has amounted to 0.3%, has been registered in segment of two-bedroom apartments.
CHINA: in January the cost of primary and secondary housing in the country has increased by 9.5%, year-on-year. This has become the sharpest annual increase of this index since May 2008. Experts of the China Index Academy claim that, generally, the offer of new housing throughout the country does not meet the demand, thus developers do not see any reason to lower the prices.
AUSTRALIA: A law, aimed on reduction of harmful emissions into the atmosphere is being drafted in the country. All Australian properties would be assessed in terms of their energy-efficiency. The expert opinions will be attached to property sales or lease contracts. Beginning 2010, the initiative would affect commercial property, while coming into power for residential properties in May 2011.
The growth of prices and sales volumes is being registered in certain nations and regions, while the city-state of Singapore grows all by itself. Local developers and officials are suspected of connivance of smugglers, who "traffic" entire beaches from the neighboring countries. Over the past 40 years, the area of the city-state has been steadily increasing and the demand for sand, which is necessary for the implementation of various construction projects, is consistently high. However, the recent ban on sand exports, imposed in Indonesia, Cambodia and Vietnam, has led to a sharp reduction in deliveries thus opening a channel for illegal export of sand from Indonesia, Malaysia and several small island states.
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