Wednesday, 27 May 2009

Global house price index report not good for expat locations

Came across this report from Knight Frank Rutley, the global residential estate agent. The report, Global House Price Index, revealed that global housing markets continue to struggle in the current economic conditions and the outlook for the rest of 2009 is equally gloomy.

Nick Barnes, head of international residential research, Knight Frank, said: "The world’s housing markets remain under intense pressure with little real evidence of any of the hoped for “green shoots”...".

Year on year falls were highest in Dubai and Singapore, but on a quarter on quarter basis, house price falls accelerated to -40% and -16.2% respectively.

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