Hong Kong Home Prices Rise for First Time in 11 Months After Curbs Scrapped
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.
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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.
Singapore home prices grew at a slower pace last quarter and rents fell, as the city-state’s property boom began to lose steam.
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.
Apr 19, 2022
Bloomberg News
,Pittsburgh has been named the most affordable city for housing, as accommodation costs around the globe surge.
Hong Kong, long the world’s most expensive city for housing, ranked bottom of the 92 housing markets assessed in the Demographia International Housing study. New York ranked 73rd while London came in at 79th.
The U.S. was the most affordable country in the study, which also examined markets in Australia, Canada, Hong Kong, Ireland, New Zealand, Singapore and the U.K. In most major economies, home prices boomed during the pandemic, with buyers pouring their lockdown savings into real estate.
“There has been an unprecedented deterioration in housing affordability during the pandemic,” author Wendell Cox wrote in the report, which compared incomes to home prices in the third quarter of 2021. “The number of severely unaffordable markets rose 60 per cent in 2021 compared to 2019.”
Most affordable:
Oklahoma City and Rochester, New York, ranked second and third on the affordability list, the authors said. Sydney and Vancouver ranked among the least affordable.
In a sign of the growing tensions in many markets, Canada is banning most foreigners from buying homes for two years and providing billions of dollars to spur construction activity in an attempt to cool off a surging real-estate market.
Least affordable: