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USA: residential property prices and the volume of new home sales are on the rise

USA: residential property prices and the volume of new home sales are on the rise. London: elite property prices grow. Finland: secondary housing prices continue to increase.

According to Standard & Poor's/Case-Shiller Index of property prices in 20 largest cities of United States, the cost of local homes has increased by 0.5%, May to April. The best results have been demonstrated by Cleveland, Dallas and Boston. The volume of new home sales has soared by 11%, June to May. This is the sharpest increase since December
2000. US residential property sales are increasing for the third consecutive month.
UK home sellers have become stingier on discounts. According to the data provided by a British consulting company Hometrack, in July 91.5% homes were sold at asking prices, while barely 88.3% have been sold at asking prices in January. One of the reasons behind that: British property prices have been considerably stable during the last three months.
Knight Frank claims that elite properties of London have appreciated in June 2009. The cost of premium class properties has increased by 1.7%, compared to May 2009. The results of Q2 2009 show that the prices of elite residential properties located in London's downtown have climbed by 3.7%, compared to the preceding quarter.
In Q2, Finnish secondary home prices have gained 3.9%, compared to Q1 2009. The median price for a square meter of secondary housing currently works out €1931. In the segment of new homes, prices have decreased by 1.0% in Q2, compared to the preceding quarter, down to €2738 per a square meter.
Croatian residential property has depreciated by 1.1%, July to June. At the moment, average apartment prices work out €1918 per a sq. m. in Zagreb, and €2169 per a sq. m. on the Adriatic coast.
According to the Danske Bank analysts, Danish homes prices are expected to decline by
12% in 2009, compared to the preceding year. The present decrease is going to be the sharpest within the last 50 years.
In June, 1978 new flats have been put into commission in Israel, this is 11% more that in May. For comparison: last June, the sales volume has amounted to 1375 flats.
9831 property transactions have been concluded in Estonia during Q2 2009, this is 8.5% more than during the preceding quarter. However, in yearly terms, the decrease amounts to 30%.
Over the first half of 2009, 19% less permits for construction have been granted in Hungary, compared to the same period of the preceding year. Totally 17,003 permits have been issued by Hungarian authorities over the specified period.
The number of home building permits issued in Romania during the first half of 2009 has plunged by 18.8% compared to the same period last year. The largest decline has been registered in Romanian capital - Bucharest.
Authorities of Marbella, a Spanish city located in Malaga province have developed a new general outlay, which may legalize 16.5 thousand properties. These properties, which were erected with violation of Spanish laws, have been formerly threatened by demolition.
London's mayor, Boris Johnson, has announced the plans of city administration to increase the taxes on £50-thousand-plus commercial property located in districts where a new Crossrail railway is bound to appear. The taxes are expected to climb by 2%. Entrepreneurs, particularly retailers have been dissatisfied by such decision.
UK property market demonstrates positive dynamics; however the corruption crisis in Great Britain is getting more and more convolved with residential property domain. A member of British House of Lords, Lord Taylor of Warwick, is in the center of the present scandal. He has received more than £70,000 of taxpayers' money to cover the expenses on renting rooms and flats while staying overtime in London. Lord Taylor has claimed that he lived with his sick mother in the Midlands region until 2007. This has allowed him to receive the compensation of the specified expenses. However a journalistic investigation conducted by The Times has revealed that his mother's house has been sold in 2001, immediately after her death.
Alexey Lahov

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