November 13th - 2009

World housing markets recovering

Global real estate markets are showing tentative but growing signs of stabilization, according to the recent Global Real Estate Trends report released by Scotia Economics.

Global real estate markets are showing tentative but growing signs of stabilization, according to the recent Global Real Estate Trends report released by Scotia Economics. "Real home prices increased in a number of major developed economies in the second quarter of 2009, including Canada, Australia and the United States," said Adrienne Warren, Senior Economist, Scotia Economics. "Prices were still falling in many other markets, including the U.K., France and Spain, but generally at a slowing rate.” Scotia Economics believes the improving sentiment in global residential real estate markets is sustainable. Historically low borrowing costs, increased affordability, and home-buyer tax incentives in a number of countries are underpinning a modest revival in housing demand. To view the Global Real Estate Trends report, visit http://www.orea.com/ScotiabankReport.

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