Investment Analysis
House prices dropped further around the world during the year to end-Q1 2009, as personal consumption expenditure decreased, consumer confidence remained low, credit remained tight and the unemployment rate worsened.
No surprise - Monte Carlo is No 1 in the Global Property Guide's list of World's Most Expensive Residential Real Estate Markets 2009, more than twice as expensive, at US$45,000 per square metre, as the runner up.
Battling for the number 2 position are prime central Moscow and London.
In 2008, the crash of the world’s housing markets, which began in the US in 2007, precipitated the world’s most severe economic crisis since the Great Depression.
Inflation-adjusted house prices fell in more than 21 countries out of the 29 for which Q3 figures are available. In no country is there cause for strong optimism. The latest quarterly figures bring grim news, even in countries which recently saw price rises.
As financial markets tumble, the world’s housing markets have continued to slide during the year to end-Q2 2008. Inflation-adjusted house prices fell in 21 out of the 33 countries for which there is up-to-date published data. The Baltics, the US, the UK and Ireland have led the global decline.
- House price falls during year to end Q1 2009, the worst ever
- Most expensive real estate markets in 2009
- The world's 2008 housing markets in review and some forecasts for 2009
- World property market slide worsens
- Commentary: No 'too big to fail' please
- The end of the global house price boom
- Gloomy days ahead for Asia's housing markets
- The pros and cons of rent control
- Buying a piece of the Caribbean
- Most expensive cities in 2008
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