Independent - Credit Crunch Sees Global Property Prices Tumbling - House
Credit crunch sees global property prices tumbling - Independent
Credit crunch sees global property prices tumbling Independent, UK - The once booming Baltic states of Latvia and Estonia – where many Britons have bought holiday homes – suffered the most, crashing 20 and 10 per cent ... |
A year ago, 35 per cent of the markets covered by the Global House Price Index saw house price inflation in double figures. Click here to explore further Print Article Email Article Also in this section Want the best home loan? In Japan, prices fell by 0.7 per cent, while the US, where the Treasury has pumped in billions of dollars to revive the economy, experienced zero house price growth. In western Europe, Irish homeowners experienced the sharpest downturn, losing 8.8 per cent of the value of their homes, while in Germany prices fell by 5.2 per cent. Knight Frank's figures for the first three months show that prices plunged by 8.4 per cent in Ireland and by 3.9 per cent in the UK. Scientists keen to get us eating bugs House & Home 22°LondonHi 22°C / Lo 15°CSearchQuery:GoHeadlinesSATURDAY MAGAZINEThe regulars, the specials, the galleries |see Saturday Magazine | ');//-->Click here... Some burgeoning economies have bucked the trend, though, mostly in Asia; Singapore was up 29.9 per cent, Hong Kong 28 per cent and China 11 per cent. The figures indicate the deep impact felt by the slowdown triggered last year by the defaults of sub-prime home loans by Americans, but they miss its severest effect because the trend has intensified in the first half of 2008. Then you're on your own, kid House price falls hit gloomy record Can you afford it?: Globe House, Pembrokeshire Are you an eco-angel or a carbon criminal?
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