Rents in major European cities are continuing to level out, even in Barcelona, Berlin and Brussels which have recorded the steepest climb in rental prices year on year, the latest data shows.
Property prices in key cities across the world increased by 3.5% on average in the second quarter of 2019, led by annual growth of 25% in Xi’an in Chine, the latest international index shows.
Munich tops list of cities most in danger of property bubble. Hong Kong and London less risky as prices fall: UBS report.
After continuous, and sometimes steep, increases in residential rents in major European cities over the past few years, prices now seem to have plateaued and are levelling out, the latest research shows.
Rents in European cities for studios, apartments and rooms are continuing to rise but the growth is beginning to slow, with levels down in the first quarter of 2019, the latest index shows.
The affordable housing gap reached some $740 billion globally in 2018 with Amsterdam, Auckland and Hong Kong amongst the least affordable places to buy a home.
Chicago may be freezing cold for parts of the year, but it has one big advantage over global cities such as New York, London and Hong Kong: it’s affordable.
The most expensive farmland in the EU is in the Netherlands, according to official statistics.
Amsterdam’s market is currently “very hot,” Mr. Wijnen said, with double-digit price increases annually since 2013 and “a big shortage of housing.”
As a result of the huge demand, paying the asking price, or even 10 percent above it, is “quite normal,” said Marianne Joanknecht, a broker and appraiser with Netherlands Sotheby’s International Realty, though in years past properties often sold for 10 percent below the list price.
Prices of homes under $1 million are up 20 percent over last year, she said; those of homes above are up 10 percent: “For every apartment under 500,000 euros” — about $570,000 — “there are 20 buyers; we have bidding wars.”
Frankfurt and Brussels are emerging as tempting alternatives to London as European financial hubs in part because they have cheaper accommodation costs than Paris.
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