Decline in real estate prices in the Asia-Pacific region

Decline in real estate prices in the Asia-Pacific region

Experts conducted an audit of 56 real estate markets around the world, real estate prices in 7 markets fell. Against the background of the overall picture, real estate prices in most markets around the world have increased, but in seven countries of the Asia-Pacific region, price growth has decreased.

  • New Zealand prices fell by 3.0%.
  • Malaysia by 2.0%.
  • Australia by 0.7%.
  • China by 0.5%.
  • South Korea by 0.4%.
  • Hong Kong by 0.4%.
  • Morocco by 0.3%.

World prices for residential real estate increased by 1.6% in the first six months of this year, but this indicator slowed down compared to the first six months of last year, when prices rose by 6.2%. In this you can see the impact of COVID-19. This is the main reason for the decline in housing prices.

Analysts have expressed concern about the Chinese real estate market this year, as a strong drop in housing prices is expected. because home buyers still have a distrust of the epidemiological situation in the country. Real estate sales are falling faster than previously thought.

Will the decline in real estate prices in China affect the Thai market? After all, Chinese citizens are the most important investors in Thai real estate. While experts cannot give a forecast on this score.

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