Real estate news

In the course of the year, on the international front, particular interest has aroused the trend of the real estate market in Great Britain in the wake of Brexit. But there was no lack of attention for those markets that sounded the alarm bell raising the fear of a possible real estate bubble. Let's see what happened and it's happening around the world.

Great Britain

According to data from last February, the upward trend in house prices in Britain did not seem to stop. The real estate market in the United Kingdom, in fact, has continued to show a very strong increase in house prices, confirming the trend started at the end of 2013. In March, however, something different happened. According to data published by Nationwide, the average house price in March fell by 0.3% to reach £ 207,308. It has not happened since June 2015 and the figure surprised the City's economists who instead expected a rise in prices, around 0.4%.

The decline continued in April. It is in that month that in London the worst decline in the value of houses has been recorded for eight years. The average of the asking price has fallen by 1.5%, to just over 800 thousand dollars, compared to a year earlier. According to the Real Estate Rightmove Plc real estate survey, it is the biggest drop since May 2009. On a monthly basis, the price of London homes required fell by 2%.

And in May the number of trades fell. The increase in taxes and the Brexit effect are the two factors that led to a sharp drop in the number of homes sold in the British capital. In May, in fact, the sales amounted to 5,500, about half compared to two years ago.

In London, the expectations of selling their homes have decreased due to the decline in demand for houses. Prices in the City increased by 1.6% in August on an annual basis, according to the Rightmove real estate portal, an increase that remains below the peak reached in 2014. The British real estate market last year was affected by changes in taxes, Brexit and economic uncertainty.

Not to be affected seem the most luxurious neighborhoods in London. Although many talk of "bubble" and the prices of the most luxurious districts are already beyond the reach of most people, the sales of apartments in the London boroughs such as Kensington & Chelsea, the most expensive on the planet, have recorded in recent months increases in demand and price.

But foreign investors do not seem afraid of Brexit. Among the doubts and negotiations for the exit of the United Kingdom from the EU, large investment funds take advantage of the opportunities. The Hong Kong real estate fund, CC Land, bought the Leadenhall Building, the tallest building in the City and the fourth skyscraper in London with 224 meters, better known as "the grater".

Germany

Something special is happening in Germany. According to an analysis of the IW economic institute, finding an apartment in the big German cities, where real estate agents have long focused on single and two-room apartments, is increasingly difficult. On the contrary, it is built too much in the province, where the houses remain empty and devalue.

Spain

Very positive results have been recorded in Spain. In May, sales increased by 23% on an annual basis, with 44,782 transactions, the highest level since February 2011. A significant recovery after the decline recorded last April (-8.6%). According to the data of the Instituto, the National Institute of Statistics of the Iberian country, in the first five months of 2017 was sold 11.8% more than a year ago, thanks to the thrust deriving from the market of existing homes ( 14.9%) compared to the slight decline in the new (-0.5%).

Portugal

In Portugal there was talk of "Revive", a program for the recovery and enhancement of the historical and cultural heritage of the country. The objective is threefold: to recover historic buildings in a state of neglect, to promote their exploitation and to encourage their use for tourism purposes.

Portugal, then, stands out for a particular characteristic. Safety, cuisine, culture, beaches, low prices - have increased, but remain much lower than in other European cities - are attracting many famous people.

Switzerland

The real estate market of Switzerland is characterized by the luxury factor. Switzerland is the country with the highest number of rich in the world and one of the most luxurious real estate markets. In the financial center of the city of Geneva, the house can reach 65,500 euros / m2, according to the real estate agency Engel & Völkers. In second place among the most expensive cities, with equal merit, Zurich and Zug, both with a price up to 28,000 euros / m2.

And yet, something unusual happens in Switzerland. Albinen, Municipality in the canton of Valais, offers 60,000 euros for a family of 4 people ready to pack up and move there. The goal is to avoid desertification.

Greece

Greece, on the other hand, paid the economic crisis. The Greek real estate market has suffered a severe collapse since the beginning of the economic crisis. In fact, since 2008 it has lost around 2 thousand billion euros.

United States

Moving overseas, you meet the US real estate market, where February has been recorded a slowdown. In particular, the Nahb index on the performance of the sector in the United States in February fell to 65 points from 67 in January, also being below the market expectations that were for a fixed index of 67.

Particular is the problem encountered by the new generations. In the United States young people between 18 and 34 have difficulty accessing the real estate market. They have just 11% of the building stock. And not for money problems, but for lack of supply, both new and used homes. In fact, the over 55s own 53% of the real estate assets and are not willing to sell.

Canada

The alarm went off in Canada. The Canada Mortgage and Housing Corporation (Cmhc) spoke of "serious clues about the problematic conditions" of the real estate market. The rapid rise in prices in major cities, the sustained construction activity and the excessive evaluation of houses, together with the crisis in the Home Capital Group, one of the leading lenders offering subprime mortgages, are shaking the sector.

Hong Kong

To buy an apartment in Hong Kong, you have to multiply the annual average household income by 18.1 times. According to a study published by the US agency Demographia, according to which the Asian city is the one with the price of the most expensive homes in the world. A title won for the seventh consecutive year and which puts the population in a difficult position. And in the most expensive and exorbitant real estate market on the planet, even those working in finance opt for capsule houses with shared spaces.

Australia

Australian authorities try to control the housing price bubble in large cities through a system that restricts foreign real estate investments in new homes or purchase plans. Since in 2016 these rules came into force, the sale of 61 properties acquired illegally by foreigners in the country has already been arranged, for a value of 107 million Australian dollars, approximately 76.3 million euros.

The "hottest" real estate markets on the planet

The economic evolution of the countries directly influences the situation of the real estate market. While the value of homes has lost momentum across the board, there are markets - such as Hong Kong, Canada and much of Europe - where housing prices continue to rise. The Global Property Guide report highlighted this. Of the 45 real estate markets on the planet analyzed in the first quarter of 2017, in 27 the price of houses has increased. The largest increases were recorded in Hong Kong (17.3%), Iceland (16%), China (13%), Canada (11.8%) and Ireland (9%).