Mapping Real Home Price Changes In Bubble Markets
Since mid-2022, housing prices in the world’s real estate bubble cities have sunk approximately 15% in real terms as central banks embarked on rate hikes
Many European cities are experiencing the steepest declines amid stagnating population growth and weaker economic activity. On the flip side, bubble markets like Dubai, Miami, and Tokyo have seen sustained price increases driven by population growth and demand in the luxury sector.
This graphic, via Visual Capitalist’s Dorothy Neufeld, shows the annual change in real home prices across housing bubble cities, based on data from UBS’ Global Real Estate Bubble Index 2024.
Prices Diverge as Interest Rates Take a Toll
While high interest rates have cooled home prices in certain real estate bubble cities, others have shown remarkable resistance, leading to a diverse landscape across the 25 markets analyzed
*Paris data as of Q1 2023-Q1 2024.
Dubai led the way with the fastest annual increase in real home prices, driven by an influx of residents attracted by its favorable tax policies, financial stability, and modern infrastructure.
Similarly, Warsaw saw double-digit growth in home prices, bolstered by government housing subsidies. In 2023, the government offered first-time homebuyers under 45 a 10-year 2% fixed-mortgage rate, with the government covering the difference between the 2% rate and the market rate.
In contrast, Hong Kong experienced a 13% annual decline, as weak population growth and sluggish demand pushed prices back to 2012 levels, in inflation-adjusted terms. Even against these headwinds, Hong Kong remains the most unaffordable city in the world, a position it has held for the last 14 years.
Meanwhile, Paris saw double-digit price drops, driven by lower transaction volumes, tighter bank lending, and high interest rates. Overall, European cities comprised six of the eight steepest price declines over the last year. Yet, prices across these cities may have bottomed out, especially if the European Central Bank continues to cut interest rates looking ahead.
To learn more about this topic from an affordability perspective, check out this graphic on the most unaffordable cities in the world in 2024.
Tyler Durden Sun, 10/27/2024 – 08:45
Source: https://freedombunker.com/2024/10/27/mapping-real-home-price-changes-in-bubble-markets/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Online: | |
| Visits: | 1,655,219,739 |
| Stories: | 8,289,299 |
Whistler Blowers, Insiders
