Singapore Home Price Growth Slows, Rents Decline as Market Cools
Singapore home prices grew at a slower pace last quarter and rents fell, as the city-state’s property boom began to lose steam.
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Singapore home prices grew at a slower pace last quarter and rents fell, as the city-state’s property boom began to lose steam.
Hong Kong home prices rose for the first time in almost a year in March as the city’s removal of property curbs revived sales.
Greater China’s property market crisis and the challenges it poses for lenders will be on full display on Monday, when embattled developer China Vanke Co. and the region’s biggest banks report earnings.
China’s overseas investment is heading for an eight-year high as its dominant firms build more factories abroad, a shift that could soften criticism of Beijing’s export drive.
The Related Cos. founder is following the money flowing south by bringing his influence to everything from real estate to schools and health care.
Sep 1, 2022
The Canadian Press
The Calgary Real Estate Board says August's benchmark price for a home in the city rose by 11 per cent since last year, while the number of sales was almost unchanged in the same period.
The Albertan board says last month's benchmark price across all housing types totalled $531,800 with detached homes averaging $633,000, semi-detached properties coming in at $569,300 and apartments reaching $277,700.
August's sales amounted to 2,136, a 0.5 per cent fall from the same time the year before.
Detached home sales saw the greatest fall, dropping 18 per cent since last year, though semi-detached properties only decreased by three per cent.
Apartment sales rose by 58 per cent.
The board says August sales activity was comparable to last year but well above long-term trends for the month.
It has also detected a shift toward more cost-effective housing as the year-over-year pullback in detached sales was nearly matched by gains for multi-family homes.
"While higher lending rates have slowed activity in the detached market, we are still seeing homebuyers shift to more affordable options which is keeping sales activity relatively strong," said Ann-Marie Lurie, the board's chief economist, in a release.
"This makes Calgary different than some of the larger cities in the country which have recorded significant pullbacks in sales."