In the near future, the Cyprus property market is expected to continue on its dynamic path, however, it will not be a bed of roses, and strategic planning will be crucial to navigate changes and challenges ahead. In the next couple of years, we should expect to experience moderate growth as high interest rates stabilise … Read more
British house prices rose in May after falling in the previous two months as the property market withstood high borrowing costs, according to figures from mortgage lender Nationwide.Prices increased by 0.4 per cent from April, the data showed. Economists polled by Reuters had mostly expected a 0.1 per cent monthly rise. Compared with May last … Read more
Stress in the euro zone market for home loans is considered manageable by the European Central Bank, despite higher interest rates and lax checks by some banks. The ECB reviewed the mortgage books of 37 euro zone banks and found deficiencies in how mortgages are originated. Specifically, the ECB found that some banks were not adequately weighing up risks before granting a mortgage, leading to concerns about borrowers being able to meet higher interest rates. Banks were also found to be taking more risks just before or when rates started rising. The ECB has asked banks to address these deficiencies, but overall, the banking sector’s response suggests a commitment to mitigating risks and maintaining stability in the residential real estate landscape.
Fact: The increase in overall property demand came from domestic buyers, while a decrease was observed in the number of sale deeds submitted by foreign buyers.
Two Chinese provincial capitals, Hangzhou and Xian, have lifted all home purchase restrictions to attract buyers and support their struggling real estate markets. The last property boom in many Chinese cities ended around 2020-2021 due to the pandemic and strict borrowing requirements imposed by regulators. Authorities have been implementing measures to bolster the sector, but many policies have had limited impact. Hangzhou saw a 1.0% increase in new home prices in March, the slowest pace in nearly six years, while new home sales slumped 75% year-on-year in April. The move by Hangzhou and Xian to remove purchase restrictions was described as symbolic and unlikely to significantly boost demand. Analysts believe that prices need to fall further before the property market can see a sustainable rebound in demand.
British house prices increased by 0.1% in April compared to the previous month and were 1.1% higher than a year earlier.
British house prices fell unexpectedly for a second month in April, with a 0.4% decrease compared to the previous month. In annual terms, house price growth cooled to 0.6% from 1.6%.
Lloyds Banking Group’s pretax profit decreased by 28% in the first quarter due to rising costs, peaking interest rates, and competition in the mortgage market.
British house prices fell by 0.2 per cent on an annual basis in February, the smallest decrease in eight months, according to the Office for National Statistics.
The federal government is increasing capital gains taxes on wealthy individuals and companies to finance new spending on housing and other government priorities.