In the world of real estate, you have probably heard about a couple of sites that cover the subject. Whether it’s New York City’s real estate “new normal,” Hong Kong’s property market, or the UK’s Country houses for sale, you should know about the latest property news. But what about the other one? Is it any good? What are its main features? And what are its competitors’ strengths? In this piece, I will briefly outline a few of these options.
UK property market looks increasingly shaky
There’s no doubt that the UK property market is looking shaky after the referendum result. The
UK has struggled to deliver enough affordable homes and has faced problems managing them. While the impact of Brexit is yet to be determined, some experts say the country’s housing market will remain buoyant when the uncertainty subsides. Digital technology could revolutionise the property news sector. Here are some of the key concerns.
In spite of a rise in wages, the UK property market remains unstable. The current squeeze on spending power and rising affordability fears have contributed to a weak housing market. However, the latest figures show that rents increased by just 1.1% in July, compared to the same month a year ago. The figures have also been affected by the ongoing uncertainty surrounding the Stamp Duty Holiday and government policy. A number of factors can affect house prices.
New York City’s new real estate “normal”
The first three rules of real estate still apply in our time, but there’s something special about New York City. The rise of supertall buildings in Manhattan and their financial models created a new class of asset investment for the global rich. They grew to become the most profitable building types in the history of New York City. However, developers began building too many of these towers, leading to an oversupply of affordable housing.
The lack of luxury inventory pushed prices higher during the first half of the year. But demand for luxury properties continued to rise, even as supply fell. That caused prices to soar in many neighborhoods. During the summer, when many businesses reopened, the demand for luxury rentals increased. However, this spike in demand is not sustainable. It may lead to bidding wars and fewer price cuts.
Hong Kong’s property industry
The Hong Kong property market is flourishing despite the slowdown in the global economy. The prices of homes have risen by nearly four times since 2003, compared to a mere ten per cent in the US. In the past year, the property prices in Hong Kong have been rising so fast that the average household earning twice the average yearly income is still struggling to afford a 60square-metre apartment. In January, 95 per cent of all apartments sold went for more than their original prices, according to Ricacrop Properties, a local property developer.
However, the market is far from over. In March, real estate sales in Hong Kong were down by more than half compared to a year ago, although the market rebounded in April, as new development pushed prices up. Secondhand homes, meanwhile, fell by almost three percent over the last three months. Many homeowners have decided to sell their properties at steep discounts, and the national security law in Beijing is increasing the number of second-hand home sales.
Country houses for sale across the country
If you’re considering moving to the countryside, country houses for sale across the country can offer you a peaceful and serene lifestyle. Located in fertile lands, country houses are typically set on rolling hills. With the help of a global real estate network, it’s easy to find the perfect country property for you. Find the perfect property and sell it quickly – with the help of United Country.
Let United Country’s experienced real estate agents get you the best price and the fastest sale.
In recent weeks, Country Life has featured some of the best country houses for sale in the UK.
One such property is a six-bedroom Regency in the picturesque town of Leamington Spa, New
York. It boasts a private principal house and an estate cottage, as well as plenty of outbuildings. The property is situated in a sought-after, tree-lined street, and is on the market for over PS1.1 million.\