RICS Global RE Weekly: Rate Cuts Will not Support Korean Property Market in 2009
(美通社)2月6日 星期五 16:55
HONG KONG, Feb. 6 /PRNewswire-Asia/ -- The Korean central bank's next interest rate decision on Thursday 12th will come as mounting evidence of a sharper than expected slowdown in the economy is emerging. Waning global demand has hit exports and industrial production. The release of unemployment data on Wednesday 11th could also steer the hand of policymakers in a more aggressive fashion, should a loosening in the labour market gather pace.
The party is over for Dubai's property markets
For a start, although annual consumer price inflation is still estimated at above 10%, the UAE central bank cut interest rates by 50 basis points to 1% in January. The cut was intended to foster domestic activity and reduce the cost of liquidity supporting facilities.
Canadian housing starts set to fall further
Housing starts data will be released in Canada on Monday 9th. This will be followed on Wednesday 11th by the latest snapshot of price movements in the residential market. Recent numbers have highlighted a sharp drop in the volume of new house-building projects.
German housing market will not stay immune forever
German house price data for December is due for release by Hypoport on Tuesday 10th. In November, the headline index was up by 2.5% y/y (the highest in its two year history)
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SOURCE Royal Institution of Chartered Surveyors
