International Herald Tribune, 24 Nov 2008, Kevin Brass
More than half of the countries in Knight Frank’s Global House Price Index posted a drop in prices in the third quarter, according to the report released Sunday. Overall global prices dropped 0.3 percent in the quarter, the first decline in the history of the index, a popular barometer of the industry.
While it’s no surprise markets are suffering, the extent of the global slowdown reflected by the latest numbers is grim news for sellers. A third of the countries in the index are now reporting price declines from a year ago, with even former fast-risers like Hong Kong, Singapore and Canada posting a drop in the quarter.
Read More
