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RICS global real estate weekly 27 February 2009 [electronic resource]

By: Language: English Series: RICS Global Real Estate Weekly ; 27 February 2009Publication details: London RICS 2009Subject(s): LOC classification:
  • 333.33 $2 18
Online resources: Summary: The South Korean property market is showing decline in all sectors, with lettings demand for business space falling and rents also expected to fall. In Germany, residential building activity has fallen, with residential permit issuance declining by 17% in November alone, to the lowest level on record. In the US residential property sector the outlook is still bleak, with existing home sales falling 5.3% in January, sending prices to a six year low. In the UK housing market, buyer interest has increased, however the lack of availability of mortgage finance and fear of unemployment may dampen interest.

The South Korean property market is showing decline in all sectors, with lettings demand for business space falling and rents also expected to fall. In Germany, residential building activity has fallen, with residential permit issuance declining by 17% in November alone, to the lowest level on record. In the US residential property sector the outlook is still bleak, with existing home sales falling 5.3% in January, sending prices to a six year low. In the UK housing market, buyer interest has increased, however the lack of availability of mortgage finance and fear of unemployment may dampen interest.