Global property markets: Boom and gloom

Posted: May 16, 2013 in economy
Tags: , ,

UK Only Article: 
standard article

Issue: 

Japan’s master plan

Fly Title: 

Global property markets

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Our latest round-up of house prices reveals some sharp contrasts

STOCKMARKETS around the world have been stimulated by ultra-loose monetary policy. The response of property markets—the biggest asset class of all—has varied. Whereas the housing boom before the financial crisis was remarkable for its global reach, the recovery after the bust is patchy. Among the 18 countries shown in the table, prices have risen over the past year in 12. The biggest increase has been in Hong Kong, where house prices are up by 24.5%. The biggest faller is Spain, where prices are down by 7.7%.
Property markets are generally strong in the developing world. Prices have forged ahead by 11.1% in South Africa. They have also been buoyant in two big emerging economies included in our compilation for the first time: Brazil (up by 12.8%) and India (10.7%). China’s house prices have increased modestly, by 3.3%.

Housing markets are notoriously prone to boom and bust. To judge whether prices …

via Economic Crisis http://www.economist.com/news/finance-and-economics/21578043-our-latest-round-up-house-prices-reveals-some-sharp-contrasts-boom-and-gloom?fsrc=rss

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