Thursday, 4 September 2008

Worldwide Property News and Markets

This is a list of links to interesting real estate news from around the world. As the saying goes, "One man's meat...." which means falling prices in certain areas combined with volatile foreign exchange rates are helping to change the face of the world's property markets.

Property prices in Moscow are falling, which is a big turnaround, and perhaps reflects the fact that like most other cities, overbuilding will eventually catch up with demand, surpass it and cause prices to fall.

A new waterfront development in Sydney, Australia offers a potential good investment. Like many other areas of the world, prices have been falling here, and perhaps now is a good time to buy before the tide turns.

Manhattan luxury real estate also sees a drop in prices this month, with large drops in both prices and the amount of sales made. Our feeling is this market has not quite reached rock bottom yet, but for buyers spending Euros, this is a good time.

Other markets are also feeling the pinch, not just the property markets. Even the designer handbag market is seeing problems with luxury buyers waiting to see what the future brings rather than rushing out and buying the latest bag as soon as it is launched.

Office furniture, oddly enough is another market being hit. With job losses in most industries, and more job cuts planned across the USA, used office furniture just got a whole lot cheaper.

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