FACTOID: Where Are Housing Property Prices Still Holding Up?

According to an analysis in Bloomberg Businessweek (July 26 – August 1, 2010), home prices in Asian cities, together with some Scandinavian countries, significantly increased during the first quarter 2010 as compared to the same period in 2009. How did housing prices in Europe and the United States compare?

According to an analysis in Bloomberg Businessweek(July 26 – August 1, 2010), home prices in Asian cities (see chart which follows) together with some Scandinavian countries, significantly increased during the first quarter 2010 as compared to the same period in 2009.

During the comparison period, housing prices continued to decline in Europe and decreased 0.23 percent in the U.S.

Change in First Quarter from Prior Year, Adjusted for Inflation

Hong Kong

+27%

Athens

-5%

Singapore

+2%

Croatia

-5%

Taiwan

+18%

Spain

-6%

Australia (8 cities)

+17%

Slovakia

-9%

Israel (2)

+12%

Iceland (3)

-14%

Finland

+11%

Ireland

-16%

Sweden

+10%

Bulgaria

-19%

China (Shanghai)

+8%

Thailand

-20%

Norway

+8%

Lithuania

-22%

U.K.

+5%

Latvia (Riga)

-32%

Source: Global Property Guide; National Institute for regional and Spatial Analysis; Anglo-Saxon Realty.

Stephen R. Blank joined ULI in December 1998 as Senior Fellow, Finance. His primary responsibilities include: expanding ULI’s real estate capital markets information and education programs; authoring real estate capital market commentary; participating as a principal researcher and adviser for the Emerging Trends in Real Estate series of publications; organizing and participating in real estate capital markets programs at ULI events worldwide; and participating in industry meetings, seminars, and conferences. Prior to joining ULI, Blank served from December 1993 to November 1998 as Managing Director, Real Estate Investment Banking of Oppenheimer & Co., Inc. His responsibilities included: structuring, underwriting, and executing corporate financings including initial public offerings of common and preferred shares, unsecured debentures, and convertible bonds; property acquisitions, dispositions, and financing; and financial advisory services including mergers and acquisitions, corporate restructurings, and recapitalizations.
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