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The cost of rental housing increases in Germany and Israel


17.09.2009

Rental prices for German residential property continue to grow. However, in comparison with 2008 the growth rate has slowed. The most expensive lettings are located in Munich. Here, rental price for a typical 65-square-meter-large apartment exceeds median rents throughout the country by 71%.
Home rentals have increased in all major cities of Israel, except for Jerusalem, August- to-July. For example: in Tel Aviv the figure has amounted to $1,189 in a segment of three- bedroom apartments, and to $1,007 in a segment of two-bedroom apartments.
Residential property prices in the UK have increased by 0.8%, August-to-July, up to £161 thousand (€184 thousand). This corresponds to the price level of December 2008.
In August 2009, the value of Spanish residential property has decreased by 8.9%, compared to the same period last year. The rate of decline has been slowing consistently since April (then the figure reached 13.5%).
The average transaction price for housing in Estonian capital, Tallinn, has soared by 17%, August-to-July, while increasing by 5% nationwide. The figure has amounted to 13,363 kroner (€854) per a sq. m. in Estonian capital, and to 9,622 kroner (€615) per a sq. m. throughout the country.
The cost of Croatian housing has declined by 0.9% in August 2009, in comparison to the preceding month. In annual terms, the decline has amounted to 4.7%. Currently, median apartment prices work out €1,896 per a sq. m. in Zagreb, and €2,008 per a sq. m. on the Adriatic coast.
In August, the volume of investment in Chinese property has soared by 34.6%, year- on-year. Over the same period, property prices in 70 major cities have increased by 2%. The recovery of Chinese property market was mostly driven by an increase in mortgage lending. This, in turn, was made possible through governmental subsidies, which have totaled $585 billion.
In Q1 2009, home prices on Malta have decreased by 2.83%, compared to the same period of 2008. During the same period, sales have plummeted by 15.11%, collapsing to its six-year-low.
In Q2, the volume of investment in French commercial property has soared by 90%, compared to the preceding quarter, up to the level of €1.43 billion. However, in yearly comparisons, the volume of investment has plummeted by 71% during the first half of
2009.

P.S.
Over the last five years, residential property prices in one of Colombia's largest cities have increased by 300%, while soaring by 600% in several districts. The name of the game is Cartagena - Columbia's fifth largest city. A "boom" of construction and investment activity is reasoned by the city's popularity among tourists, as well as by its relative affordability in comparison to other destinations in the Caribbean. Housing prices in the city vary between $2.3 thousand and $5 thousand per a sq. m.
www.business-realty.com.ua


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