House Prices around the Globe continue to CRUMBLE

ad44downey

House Prices around the Globe continue to CRUMBLE

http://news.bbc.co.uk/1/hi/business/8079169.stm

Global house prices drop further


Apartment prices in Riga have fallen 50% to 747 euros per square metre

House prices around the world dropped further in the first quarter of 2009 as the global recession worsened, with Latvia seeing the largest falls.
Out of 32 countries studied, 27 saw price falls over the year to the end of March 2009, property researchers the Global Property Guide said.
Apartment prices in the Latvian capital Riga fell 50% over the year.
The guide uses price changes after inflation to try to give a realistic picture of the property market.
Latvia is deep in recession - its economy contracted by 18% in the first quarter of 2009 compared with the same period a year earlier.








YEARLY HOUSE PRICE CHANGES
Latvia (Riga) -50.42%
UAE (Dubai) -35.3%
Singapore -22.7%
Iceland -20.5%
US (Case-Schiller) -19.1%
UK (Land Registry) -18.5%

Yearly change Q1 2009 compared to Q1 2008, adjusted for inflation


Source: Global Property Guide

The second biggest fall was seen in Dubai, where prices were down 35% over the year.
It indicates the extent to which Dubai's recent property boom has come to an end in the face of the worldwide recession.
Prices had shot up by 59.7% the previous year.

System

My Latvian BTL empire is crumbling.

Really2

Joeskeppi wrote: »

My Latvian BTL empire is crumbling.

At least you can celebrate on eurovision night.

So with the above news I presume we are saying house prices were over priced all over the world and not just the UK?

Yakubu22

Really2 wrote: »

At least you can celebrate on eurovision night.

So with the above news I presume we are saying house prices were over priced all over the world and not just the UK?

If you believe some of the posters on other threads today, Brown has saved us. The deepest recession for 70 years has been overcome in less than a year and we are now coming out the other side. Get your deposit together ASAP, the boat is leaving. :rotfl:

Spiv_2

Green Shoots this afternoon....

U.S. Home Resales Surge the Most Since 2001

"The number of Americans signing contracts to buy previously owned homes climbed 6.7 percent in April, the fourth increase in five months and almost 14 times as much as forecast, as lower prices attracted buyers"

http://www.bloomberg.com/apps/news?pid=20601087&sid=aUox8hHm9OqY&refer=home

pickles110564

ad44downey wrote: »

House Prices around the Globe continue to CRUMBLE

http://news.bbc.co.uk/1/hi/business/8079169.stm

Global house prices drop further


Apartment prices in Riga have fallen 50% to 747 euros per square metre

House prices around the world dropped further in the first quarter of 2009 as the global recession worsened, with Latvia seeing the largest falls.
Out of 32 countries studied, 27 saw price falls over the year to the end of March 2009, property researchers the Global Property Guide said.
Apartment prices in the Latvian capital Riga fell 50% over the year.
The guide uses price changes after inflation to try to give a realistic picture of the property market.
Latvia is deep in recession - its economy contracted by 18% in the first quarter of 2009 compared with the same period a year earlier.








YEARLY HOUSE PRICE CHANGES
Latvia (Riga) -50.42%
UAE (Dubai) -35.3%
Singapore -22.7%
Iceland -20.5%
US (Case-Schiller) -19.1%
UK (Land Registry) -18.5%

Yearly change Q1 2009 compared to Q1 2008, adjusted for inflation


Source: Global Property Guide

The second biggest fall was seen in Dubai, where prices were down 35% over the year.
It indicates the extent to which Dubai's recent property boom has come to an end in the face of the worldwide recession.
Prices had shot up by 59.7% the previous year.

Who cares what is happening else where in the world? We should start worrying about our own country for once and vote in UKIP and get the hell out of europe.

ad44downey

ad44downey wrote: »

YEARLY HOUSE PRICE CHANGES
Latvia (Riga) -50.42%
UAE (Dubai) -35.3%
Singapore -22.7%
Iceland -20.5%
US (Case-Schiller) -19.1%
UK (Land Registry) -18.5%



.

Can't you read pickles999?

Frozenace

UK, especially London rents are still really high.

I bought my flat when the pound was at an all time low against all the other currencies and saved 12k in the process (parents helped me out with my deposit), on top of countless incentives...

mewbie_2

pickles110564 wrote: »

Who cares what is happening else where in the world?

You'd think someone involved in import / export might want to know what's going on.