Real estate prices

Real estate prices DEFAULT

Residential Property Investment Research

Price changes 1 year in different countries.
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Country Overviews
Compare Countries
Rental Yields
Apartments inPrice/sq.m.Rent/mo.Yield/p.a    
Andorra€ 2,915€ 9203.16%
Argentina$ 3,660$ 8962.45%
Aruba$ 1,455$ 1,7747.32%
Australia$ 8,783$ 2,5052.85%
Austria€ 9,609€ 1,8942.25%
Bahamas$ 3,632$ 2,9648.16%
Belgium€ 3,171€ 1,4454.56%
Bermuda$ 7,056$ 5,5974.76%
Brazil$ 4,833$ 1,5763.26%
BVI$ 6,469$ 3,0712.85%
Bulgaria€ 1,663€ 8515.12%
Cambodia$ 2,913$ 1,5535.33%
Canada$ 10,947$ 4,2763.91%
Cayman Is.$ 4,163$ 3,0187.25%
Chile$ 3,256$ 1,3364.10%
China$ 11,829$ 2,4792.10%
Colombia$ 2,189$ 1,3796.30%
Costa Rica$ 1,938$ 1,4507.48%
Croatia€ 1,978€ 1,0745.43%
Cyprus€ 1,678€ 7964.74%
Czech Rep.€ 6,688€ 1,0503.14%
Denmark€ 4,279€ 2,0714.84%
Ecuador$ 1,320$ 1,1156.75%
Egypt$ 831$ 9779.40%
El Salvador$ 1,193$ 1,0138.49%
Estonia€ 3,190€ 1,5604.89%
Finland€ 8,376€ 2,8203.37%
France€ 12,796€ 3,5642.79%
Gambia$ 667$ 3305.94%
Germany€ 5,907€ 1,3052.95%
Ghana$ 2,273$ 2,9218.81%
Greece€ 3,619€ 1,4383.97%
Guadeloupe$ 2,940$ 1,6805.71%
Hong Kong$ 28,570$ 7,2672.35%
Hungary€ 2,515€ 1,3195.24%
India$ 10,932$ 2,5372.32%
Indonesia$ 2,595$ 1,8407.09%
Ireland€ 0€ 1,9237.09%
Israel$ 17,149$ 4,5912.68%
Italy€ 6,589€ 2,5843.92%
Jamaica$ 1,404$ 1,3699.75%
Japan$ 16,322$ 4,3462.66%
Jordan$ 1,455$ 1,6058.82%
Kenya$ 1,687$ 1,1236.66%
Latvia€ 2,789€ 1,1324.06%
Lebanon$ 3,693$ 2,0824.51%
Lithuania€ 2,163€ 1,1665.39%
Luxembourg€ 4,605€ 1,9554.40%
Macedonia€ 1,134€ 5654.98%
Madagascar$ 520$ 3207.38%
Malaysia$ 3,441$ 1,2813.72%
Malta€ 4,576€ 1,5403.37%
Martinique$ 2,979$ 1,5245.12%
Mexico$ 2,834$ 1,1834.18%
Moldova€ 965€ 96510.00%
Montenegro€ 1,400€ 1,0557.53%
Morocco$ 1,549$ 8545.52%
Netherlands€ 6,902€ 2,5693.72%
New Zealand$ 5,272$ 2,9843.41%
Nicaragua$ 893$ 1,1467.70%
Norway€ 8,281€ 2,5563.09%
Panama$ 3,606$ 2,0755.75%
Peru$ 2,713$ 1,0754.80%
Philippines$ 3,952$ 2,4226.13%
Poland€ 2,793€ 1,5355.50%
Portugal€ 3,830€ 1,5785.45%
Puerto Rico$ 1,007$ 7177.12%
Romania€ 1,701€ 4515.88%
Russia€ 6,305€ 1,8114.54%
Serbia€ 2,239€ 9944.44%
Singapore$ 14,373$ 4,7363.30%
Slovak Rep.€ 2,911€ 1,3204.53%
Slovenia€ 3,657€ 1,7164.69%
South Africa$ 4,214$ 1,6363.88%
Spain€ 4,978€ 1,9914.00%
St Kitts and Nevis$ 3,496$ 1,7124.90%
St Lucia$ 1,860$ 1,1083.57%
St Martin$ 3,267$ 4,0004.90%
Switzerland€ 13,280€ 4,1223.10%
Taiwan$ 10,373$ 2,1422.06%
Tanzania$ 700$ 5008.57%
Thailand$ 5,266$ 1,3735.13%
Trinidad & T.$ 2,334$ 1,6076.88%
Turkey€ 4,581€ 8871.93%
Ukraine€ 2,807€ 2,5509.09%
UAE$ 5,918$ 3,0705.19%
UK€ 21,179€ 5,8462.76%
USA$ 17,191$ 4,9422.91%
Uruguay$ 2,794$ 1,3854.96%
Vietnam$ 2,280$ 9884.33%
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The Truth About Real Estate Prices

Real estate has traditionally been considered a safe investment. But recessions and other disasters are testing that theory—making investors and would-be homeowners think twice.

Key Takeaways

  • Home values tend to rise over time, but recessions and other disasters can lead to lower prices.
  • Following slumps, home values can increase in some areas of the country because of strong demand and low supply, while other areas struggle to rebound.
  • Potential homebuyers shouldn't focus on national trends, as prices vary between states and even neighboring cities.
  • Low mortgage rates have an indirect effect on home prices, as consumers are willing to take on more debt when credit is cheap.

Historical Prices

Prior to 2007, historical housing price data seemed to indicate that real estate prices could continue to rise indefinitely. In fact, with few exceptions, the average sale price of homes sold in the U.S. climbed steadily each year from 1963 to 2007—when the housing bubble burst and the financial crisis of 2008 ensued.

Rebound after the Financial Crisis

By 2013, the average sales price of homes sold in the U.S. had rebounded to pre-crisis levels. For the next several years, the uptrend looked promising, until 2018 when prices flattened, and then began to fall slightly in 2019.Prices saw a dip in 2020 but housing prices have been climbing since later that year.

Of course, real estate prices depend heavily on the market (location, location, location), and national trends can tell only part of the picture. A boom in California can mask a bust in Detroit.

Even within the same city, numbers can vary widely. Areas that experience new growth or gentrification can show significant price appreciation, while areas across town can be in decline. The chart below shows how the south, west, northwest, and midwest regions experience different trends in real estate prices.

When looking at the national and regional statistics, be sure to account for the reality of the market in your local area. Rising prices at the national level may not help you if your city, state, or neighborhood is in decline.

Current Home Prices

Home prices in 2021 have increased at unprecedented rates as the economy has reemerged from the downturn of 2020. Record low mortgage rates and a shortage of homes for sale have been primary drivers of this phenomenon..

At the same time, temporary shortages in lumber and skilled construction labor has added to the upward movement of prices, though these impacts should be mitigated in the second half of the year.

Home Trends

Of course, it's important to consider that factors other than supply and demand can affect real estate prices. For example, even before the numbers began to go the wrong way in 2008, the National Association of Home Builders reported that the average home size in America was 983 square feet in 1950, 1,500 square feet in 1970, and peaked at 2,740 in 2015.

This trend continued in the first half of the 2000s, after which it began to decline somewhat. Still, with homes getting bigger and inflation adding to the cost of building materials, it is only logical that home prices would rise. Other trends can drive prices up, too, such as buyer preferences for more expensive flooring, appliances, fixtures, and the like.

National trends may not give you the whole picture, as real estate values and prices vary between states and neighboring cities.

Homes as Investments

Because home prices tend to rise over time, buying a home has traditionally been viewed as a safe investment. Still, an important point to consider when looking at a home as an investment is that it won't ever pay off unless you sell it.

From a practical standpoint, even if your primary residence doubles in value, it probably just means that your real estate taxes have gone up. All of the gains you experience are on paper until you sell the property. Of course, for many homeowners, that's alright. A home that doubles in value is a nice asset to pass on to the kids and grandchildren.


If you decide to sell and buy another home in the same area, remember that the prices of those other homes have probably risen, too. To truly book a gain from your sale, you will likely need to move to a smaller home in the same area, or move out of the area and find a less expensive place to live.

Of course, downsizing is an attractive option for many retirees and those who no longer have children living at home. Aside from the potential financial gains, a smaller home is easier to take care of (at least in theory), and it can address future mobility issues.

Home Equity Loans

While it is possible to tap the equity in your home by taking out a loan against it, using your house as an automated teller machine (ATM) is not always a good strategy.

Not only does the interest you pay eat into your profits, but the loan payment takes away from your financial stability. If real estate prices decline, you may find yourself in the unenviable position of owing more on the loan than the house is worth.

Mortgage Rates

Mortgage rates generally rise during periods of economic growth. When this happens, the job market is healthy and people's wages rise, too. Conversely, mortgage rates tend to fall during economic slowdowns as the Federal Reserve tries to make it easier to spend and borrow.

The average 30-year fixed-rate mortgage rate has been below 5% since 2010 (keep in mind that even tiny changes in rates can have a huge impact on the overall cost of your home). This chart from the Federal Reserve Bank of St. Louis shows historical prices for 30-year fixed-rate mortgages, starting in 1971.

So how does this play out for real estate prices? Lower mortgage rates don't necessarily have a direct relationship to home prices, even though we'd like to think they do. But they may have an indirect effect on them. When rates are low, consumers are more willing and can afford to take on more debt. That's because the cost of credit (i.e., interest) is cheap. Rising interest rates, though, tend to lead to weaker demand from buyers.

Is Buying a Home a Good Investment?

The idea that a home is a good investment stems from the fact that real estate prices tend to rise, at least historically speaking. Since there's no way to predict the future real estate market, it's important to avoid getting in over your head. A home is a good investment only if you can afford it.

Of course, while you are unlikely to see any profits that you can spend if you plan to live in the same house all of your life. But if you buy with an exit strategy in mind, there is a much better chance of realizing a cash profit.

First, consider your motivation for buying a home. If you want to live in it, then you probably don't need to think about your home in terms of profits and losses. If you're hoping to make money, then you need to enter the transaction with an exit strategy. This also means you should have a selling price in the back of your mind, all while keeping the purchase price of the property at the forefront.

When the market reaches your price point, you sell the property just as you would a stock that has appreciated. This may not be a practical approach for your primary residence, depending on your lifestyle, but it is exactly what many real estate investors do when they purchase properties—renovate and sell them. Just remember that prices don't always move up.

The Bottom Line

With history as a guide, most would-be homeowners would do well to buy a place they actually hope to inhabit, pay off the mortgage quickly, live there until retirement, then downsize and move to a less expensive home. It's not a sure bet, but this strategy does increase the likelihood of making a profit.

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Goldman Sachs: Home prices to climb another 16% by the end of 2022

But as high as prices are, they have yet to peak, according to a new report from Goldman Sachs.
The investment bank projects that home prices -- already at record highs -- will grow another 16% by the end of 2022.
Despite price increases of 20% over the past year, the analysts at Goldman Sachs suggest that homes remain "relatively affordable" thanks to historically low mortgage rates. But continued strong demand among buyers and ongoing low inventory will keep pushing prices even higher, according to the report.
Sure, the inventory picture has improved a little since the spring, with more homes for sale and price growth moderating a bit. But Goldman's analysts say this supply and demand imbalance is expected to continue through next year.
But it is questionable whether demand will remain as strong going forward, given the high prices. About two-thirds, 66%, of respondents to a University of Michigan survey on homebuyer sentiment said this is not a good time to buy a home, according to the report. That's the highest it has been since the early 1980's.
But homeowners today remain "'reluctant bulls', who still intend to buy despite thinking it's a bad time," Goldman's analysts wrote.
The Goldman Sachs model looked at supply, demand, affordability, and home prices. It projects that strong demand and tight supply will gradually erode affordability and make homes so pricey that more people will drop out of the market. That reduced demand will ultimately allow for more inventory on the market and eventually the supply-demand imbalance will ease. But not before prices jump another 16% by the end of next year.
In addition to home prices continuing to move higher, rents will continue to rise as well, the analysts said, and regulatory efforts from the White House, Congress or individual states or municipalities to alleviate the housing shortage may not be enough.
Political wills have been at odds over efforts that would relax zoning rules and other regulatory constraints that have slowed homebuilding for decades. That's in spite of economic research that shows such efforts would boost supply and lower home prices and rents, according to the report.
Some successful efforts include California's recent abolition of single-family zoning in the state, which could mean that the 60,000 new single-family homes permitted in the state each year, could become thousands of additional units, the report noted.
Nationally, the White House's plan to use housing funding from the reconciliation bill to increase affordable housing may not have the intended effects if many of the proposed housing grants and tax subsides are cut.
"As a result, nationwide changes seem unlikely for now, and limited state and local changes are only a partial step toward relieving the housing shortage," the Goldman analysts wrote in the report.

Housing prices

Housing prices include housing rent prices indices, real and nominal house prices indices, and ratios of price to rent and price to income.

In most cases, the nominal house price index covers the sales of newly-built and existing dwellings, following the recommendations from the RPPI (Residential Property Prices Indices) manual.

The real house price index is given by the ratio of the nominal house price index to the consumers’ expenditure deflator in each country from the OECD national accounts database. Both indices are seasonally adjusted.

The price to income ratio is the nominal house price index divided by the nominal disposable income per head and can be considered as a measure of affordability.

The price to rent ratio is the nominal house price index divided by the housing rent price index and can be considered as a measure of the profitability of house ownership.

The price to income and price to rent ratios are indices with base year 2015.


Estate prices real

Calgary real estate market remains hot; average price of home up to $457,900

After a flurry of home sales over the summer, Calgary’s real estate market was readying itself for a September slowdown.

But the latest numbers from the Calgary Real Estate Board show that sales are continuing to grow year over year.

CREB reports 2,162 residential homes were sold in September, an increase of 26.7 per cent from this time last year.

Inventory slipped to 5,607 properties, a drop of 10.3 per cent, forcing prices to continue to climb.

The average home price in Calgary rose to $457,900, which is an 8.6 per cent increase compared to September 2020. The average detached home is going for $537,500.

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Justin Havre from RE/MAX First said the numbers show that Calgary remains an active market for both buyers and sellers.

“The single-family detached segment continues to remain relatively strong,” said Havre. “And there is lots and lots of opportunities in the apartment segment.”

Havre added that he’s seeing a growing interest from buyers outside of the province, specifically from the Toronto and Vancouver markets.

“Something like a [detached home] could cost twice if not three times more in other markets,” said Havre. “So when you have people in Ontario looking at Calgary, we’re on sale.”

Buying from afar

Homeowner Agamemnon Spiridoulias and his wife have been eyeing the Calgary market for a while.

The couple from Burlington, Ont., decided they wanted to cash in on the record-breaking housing market by selling their home and buying a property in northwest Calgary.

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“We were looking at the bottom line,” said Spiridoulias. “You really do get more bang for your buck here, and the housing market here for us definitely coming from Burlington is super affordable.”

Buying a house from across the country and wanting to avoid travelling during the pandemic, Spiridoulias opted to check out options through video calls, photos and virtual tours.

“The first night that we got out here [was when we got] the keys and stepped into the place for the very first time,” said Spiridoulias.

He added that while professional photos tend to exaggerate the size of rooms, video tours seem to do the opposite, under-representing the square footage.

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“We went upstairs to our second level. We were like this is way more than we’d ever even need,” said Spiridoulias. “So that was a pleasant surprise.”

The new Calgarian said he would recommend a similar process for other buyers looking at moving across the country, as long as you set some ground rules with your realtor.

“Don’t fall in love with every place that you’re looking at,” said Spiridoulias. “Make sure that [the house] really ticks the boxes of the main things that you’re looking for.”

© 2021 Global News, a division of Corus Entertainment Inc.

Housing Market Has Gone 'Bonkers,' Barbara Corcoran Says

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