
Google Recruiting Propels Zurich Home Prices Past London, Paris
Tax breaks and low interest rates have made the Swiss financial hub one of Europe’s hottest housing markets.
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Tax breaks and low interest rates have made the Swiss financial hub one of Europe’s hottest housing markets.
China is road testing a new property policy in an experimental city President Xi Jinping is building outside Beijing to try to stabilize a housing market rocked by an ongoing credit crisis.
The Hong Kong Monetary Authority maintained its base rate at 5.75% on Thursday as the US Federal Reserve paused its cycle of hiking rates.
Australian governments have unveiled multi-billion dollar plans in recent days to help address the nation’s deepening housing crisis, but an ongoing supply crunch suggests the cash is unlikely to make much of a dent in the problem.
As interest rates climb, variable-rate mortgage holders are paying thousands of dollars in added interest compared to people with fixed rates.
Feb 15, 2019
Bloomberg News
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Canadian home sales rose for the first time in five months in January, with Montreal leading gains that stretched across about half of markets nationwide.
Sales climbed 3.6 per cent compared to December, the Canadian Real Estate Association said Friday from Ottawa. There were increases in all three of Canada’s biggest cities, with Montreal posting a 7.1 per cent increase and gains of 1.2 per cent in both Toronto and Vancouver.
The report adds to evidence the nation’s housing sector is showing signs of stabilizing, after tighter mortgage rules and rising borrowing costs cooled it down for much of last year and raised worries that real estate markets could be headed for a major correction.
“Homebuyers are still adapting to tightened mortgage regulations brought in last year,” CREA President Barb Sukkau said in the statement.
There were still some signs of weakness in the report. Benchmark prices fell 0.5 per cent on the month and sales are still down from a year ago, falling 4 per cent from January 2018.