(Financial World) Report: Under the epidemic, over 80% of housing prices in 22 cities around the world rise, Montreal "leads the rise"
China News Service, Beijing, August 5 (Reporter Pang Wuji) A report released by the Asian real estate technology company Juwai IQI Group on the 5th showed that in the context of the global epidemic, economic downturn, geopolitical tensions and travel restrictions, it has been nearly a year In addition, housing prices in 22 major cities around the world have risen by more than 80%.
This report compares housing prices in the first quarter of 2020 in 22 cities around the world with prices in the first quarter of 2021 (with updated data in some regions).
The results showed that among the 22 major global cities, the price of houses in Montreal, Canada, soared 39% during the epidemic, ranking first among the 22 cities.
Housing prices in Los Angeles and Auckland, New Zealand followed closely behind, rising 35% and 32% respectively.
House prices in Toronto, Canada have also increased by more than 30%.
In addition, house prices in Manchester in the United Kingdom, Vancouver in Canada, Shenzhen in China and Sydney in Australia also rose by more than 10%, among which Manchester house prices rose by 19.4%.
The report pointed out that in the past year or so, of 22 cities, only four cities including London, Bangkok, Phuket and Tokyo have seen their house prices fall.
Tokyo saw the biggest decline in house prices, with new apartment prices falling by 7.4% in more than a year.
According to the latest WHO data, as of now, the new crown epidemic has caused more than 4.24 million deaths worldwide.
According to ILO monitoring, in 2020 alone, 8.8% of the world’s working time was lost, which is equivalent to 255 million full-time jobs.
In a catastrophic epidemic, real estate prices in many parts of the world have risen to new highs.
The report pointed out that this seemingly contradictory situation occurred mainly because central banks, policymakers, and other institutions provided about $17 trillion in government assistance after the outbreak, and there will be more in the future. Policy Support.
The monetary and fiscal stimulus measures introduced by various governments have reduced the economic damage of the epidemic, but they have also brought about the expansion of the real estate market.
Georg Chmiel, co-founder and executive chairman of the board of directors of Juwai IQI Group, said that by the first quarter of 2022, the second year after the epidemic, housing prices in these markets are expected to continue to grow.
More fiscal and monetary stimulus, high economic growth rates (especially in developed countries), and rising entrepreneurial willingness after the epidemic will put further upward pressure on housing prices in most markets covered by the report.
However, the report also pointed out that in many of the world's most popular domestic markets, housing supply shortages have been alleviating, and bidding for housing has begun to decrease. In Australia, Canada, and the United States, according to agents, buyers are increasingly resisting continued price increases. (Finish)