US housing slump, credit squeeze and high volatility in stock markets are driving real estate prices down worldwide.
In eastern Europe and the Baltic states, housing markets are fast cooling as western Europeans stop investing in properties in Warsaw, Tallinn, Estonia, etc. Prices in Spain had fallen by 8.8% in a yr.
Over at Britain, one of Europe's most robust housing markets, mortgage approvals had dropped by 31% last 2mths, compared to last yr. And in March, average prices had fallen 2.5%, the biggest fall since 1992.
In India, New Delhi and northern India had also seen prices fallen by 20% over a yr.
* AsiaOne-Housing *
Tuesday, April 15, 2008
Home Prices Drop Worldwide
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