Resources 
Global Real Estate Weekly Comment
Global Real Estate Weekly Comment
RICS Global Real Estate Weekly provides an informative snapshot of world market news in real estate.
Produced once week by the RICS Economics team, all bulletins can be downloaded below.
| March 5, 2010 Issue: Canada introduces measures to curb mortgage activity 2010 European Housing Review launched Chinese real estate building investment to moderate in 2010 US and Japan expect most distressed properties in Q1 2010 |
February 26, 2010 Issue: US construction spending continues to trend lower Surveyors pessimistic on South Korean commercial property UK base rates and quantitative easing to remain on hold Australian building approvals continue to improve in 2010 |
| February 19, 2010 Issue: Indian budget key for property sector Hong Kong housing price growth to ease Spanish housing market activity to remain subdued Snow knocks UK mortgage approvals in January |
February 12, 2010 Issue: German commercial property market remains weak Housing starts in England to remain way short of need Japanese construction recovery remains fragile US home builders' gloom overdone |
| February 5, 2010 Issue: RICS launches Cyprus Property Price Index Brazilian commercial property outperforming most emerging markets New Zealand housing market to strengthen further Canadian housing construction moving firmly higher |
January 29, 2010 Issue: Investment led recovery broadens in global commercial property market Australian building approvals to show ongoing improvements Canadian housebuilding continues to improve French construction outlook is improving |
| January 22, 2010 Issue: UK Commercial Property survey shows further improvement India set to tighten monetary policy US sales activity weak in spite of recent price increases Spanish mortgage activity to remain subdued |
January 15, 2010 Issue: Singapore residential market to show gains in 2010 Euro area construction output continues to languish US housebuilding sector remains subdued Japan survey to show demand for finance is still modest |
| January 8, 2010 Issue: Rebound in Canadian home prices and construction to continue Chinese data pointing to ongoing recovery Australian housing finance set to rise again in November Brighter outlook for German housing market |
December 18, 2009 Issue: UK commercial property may see double digit returns in 2010 Euro area mortgage lending to grow modestly at best in 2010 Hungarian home loans continue to slip but interest rates lower Hong Kong residential property to see further price gains |
| December 11, 2009 Issue: U.S. home builders sentiment to benefit from tax credit extension Rebound in N.Z. house price increases prospect of a rate hike Singapore residential prices outperforming commercial Eurozone construction sector could see uplift in H2 2010 |
December 4, 2009 Issue: Portuguese housing market set to outperform Spain in 2010 Korean rates on hold as mixed data clouds outlook Canadian housing market to recover further during 2010 Australian rate hikes adding to stretched housing affordability |
| November 27, 2009 Issue: Rate rises moderate pace of Australian house price recovery Signs of a pick-up in activity in India as RBI sends warning shot Spanish housing market to improve but headwinds remain Upward revision to Q3 UK construction estimate likely |
November 20, 2009 Issue: HK house prices rebound fuelling renewed bubble worries Housing activity in the UK to show further increase French housing construction has rebounded smartly Extension of tax credit to provide further support for US housing |
| November 13, 2009 Issue: Only modest rise in housing starts likely in England in Q3 German house price outlook highly uncertain Recovery in US housebuilding sector Japanese commercial property market starting to show some life |
November 6, 2009 Issue: German construction sector still under pressure Canadian housing market recovery continues Chinese money boost to support ongoing investment Korean rates to remain on hold for a little longer |
| October 30, 2009 Issue: Hong Kong and Latin America leading rental recovery Australian house prices to rise further Rising interest rates in Norway will dampen house price outlook UK construction orders should rebound in the September data |
October 23, 2009 Issue: Hong Kong mortgage activity to support further price gains Euro area mortgage lending to remain flat US housing market recovery will be slow and gradual London leading the UK lettings market recovery |
| October 16, 2009 Issue: Further signs of improvement in the French economy Further signs of emerging recovery in US housing market Another cut in Hungarian interest rates likely Singapore housing data to confirm double digit quarterly gains |
October 9, 2009 Issue: Canadian housing market improving but will it last? More evidence likely of improvement in UK commercial property Japanese construction sector still lagging the economy German house prices to remain relatively flat over next 12 months |
| October 2, 2009 Issue: Korean central bank may be first to target emerging housing bubbles Australian first home buyers will act before the Boost expires Stabilisation in euro area economy begins to spread to property Outlook improving for Canadian housing market |
September 25, 2009 Issue: Spanish housing market is showing tentative signs of recovery Hong Kong residential activity continues to rebound Japanese outlook is improving UK mortgage approvals set to stabilise in August |
| September 18, 2009 Issue: Euro area mortgage lending will take time to recover Recovery in US housing activity continues Further increase in UK mortgage approvals likely in August Norges Bank set to leave rates on hold as house prices rebound |
September 11, 2009 Issue: UK commercial property values set to edge up in August data US housebuilding recovery threatened by foreclosures Euro area construction output still on the floor Korea property fears set to drive interest rates higher |
| September 4, 2009 Issue: Positive outlook for Greek house prices Canadian property market outlook still weak Australian housing finance to increase before Boost deadline Korean interest rates on hold as real estate market rebounds |
August 28, 2009 Issue: Japanese housing starts to continue edging higher Argentine construction activity to continue its recovery US residential construction recovery to continue Australian building approvals will rise further |
| August 21, 2009 Issue: Spanish housing market activity shows signs of stabilization New Zealand housing recovery to meet renewed headwinds Danish homebuilders’ sentiment to remain weak Activity improves but prices fall in US housing market |
August 14, 2009 Issue: UK housing starts to rise for second successive quarter Construction spending declines in Japan to ease Euro area business sentiment is improving US housing market improving very gradually |
| August 7, 2009 Issue: Chinese real estate activity gaining traction Further falls in store for Canadian house prices Declines easing in UK commercial property Spanish residential property activity passes trough |
July 30, 2009 Issue: US residential construction spending likely to improve HK property rebounds despite ongoing rental declines Australian house prices set to rebound PMIs to signal further improvement in euro area |
| July 24, 2009 Issue: Hungarian interest rates to be cut as risk aversion eases Australian building approvals to continue to improve Euro area lending data to show further deterioration Indian rates on hold as economy improves |
July 17, 2009 Issue: French business confidence up; home building still falling Japanese survey to signal weak appetite for housing loans Further price falls likely in US housing market BBA data to show further rise in UK mortgage approvals |
| July 10, 2009 Issue: Signs that Canada may be moving past the worst Chinese stimulus to provide near term property support Czech construction output to only recover slowly Norwegian home building activity to fall further |
July 3, 2009 Issue: Canadian housing market downturn continues Indian budget could offer help for real estate sector German building activity to remain weak Government grants help Australian first home buyers |
| June 26, 2009 Issue: Singapore property price declines to ease German construction orders rise strongly in April US construction sector weak but may be improving Credit conditions in the UK only modestly easier |
June 19, 2009 Issue: UK mortgage approvals set to rise again in May Spanish mortgage approvals - light at the end of the tunnel Little momentum to improvements in US housing market Japanese commercial rents to continue slipping |
| June 12, 2009 Issue: US housing market activity shows further signs of recovery HK unemployment to signal sharper commercial rent falls Tentative signs of recovery in Euro area construction sector Swedish unemployment to show economy stabilising |
June 5, 2009 Issue: Further moderate house prices falls in France Downtrend in Canadian housing starts to persist Chinese real estate investment set for further increase UK construction orders and commercial values to fall further |
| May 29, 2009 Issue: Japanese rental slide to gather pace Australian building approvals may improve slightly Russian house price declines to accelerate US construction spending stabilises but remains weak |
May 22, 2009 Issue: Activity in the Hong Kong residential market rebounds US housing market stalls at low levels India: improved optimism for Industrial property Business confidence rising in Germany |
| May 15, 2009 Issue: Signs of less pain for the euro area construction sector Boost for Australian first home buyers continues US commercial property downturn continues Construction spending in Japan supported by public sector |
May 8, 2009 Issue: Rebound in permits won’t push up Canadian house prices Property market in China shows signs of bottoming Portuguese house prices to fall further Rental declines to accelerate for UK business property |
| May 1, 2009 Issue: Signs of activity firming in the Australian housing market Irish house prices have further to fall Indian property demand to ease further despite rate cuts Weakness remains in US construction sector |
April 23, 2009 Issue: Negative outlook remains for the Spanish housing market Hong Kong mortgage activity to continue to edge higher US house prices may be reaching a floor UK mortgage approvals to continue modest recovery |
| April 16, 2009 Issue: Singapore property to fall further on higher unemployment A brighter outlook for the US housing market Weak German economy hits housing market Japanese loan officers to show drop in home loan demand |
April 9, 2009 Issue: US housing starts may suffer relapse in March Chinese real estate investment slows to a trickle Euro area construction output will fall more but not as fast UK commercial market yet to hit the floor |
| April 3, 2009 Issue: Australian housing finance commitments to rise again Bank of Korea to cut rates further Canadian housing market downturn continues Hungarian commercial property woes to continue |
March 27, 2009 Issue: Singapore house price downturn to accelerate Japanese construction begins to show cracks French house prices will fall further Australian housing market stronger than US, for now |
| March 19, 2009 Issue: India faces deflation as real estate outlook worsens No imminent recovery in US housing market Euro area M3 lending contract further UK mortgage approvals to edge up again |
March 13, 2009 Issue: Irish house price correction has further to run Russian downturn takes its toll on property development Hong Kong commercial property enters “double dip” Credit not the only problem for US commercial property |
| March 6, 2009 Issue: Middle Eastern market sees steep turnaround Chinese property to gain some support Swiss real estate suffers as economy contracts Green shoots in Australian housing market |
February 27, 2009 Issue: South Korean property activity declines accelerate German residential building activity to fall further US property indicators showing little respite UK mortgage lending to remain subdued |
| February 20, 2009 Issue: Indian budget provides no help for real estate French building activity has further to fall Downturn in US property markets to continue Lower UK house prices drive increase in buyer enquiries |
February 13, 2009 Issue: Boost to the euro area infrastructure sector No sign of end to the gloom for US housebuilders Chinese real estate to gain some support from stimulus Canadian housing starts set to fall further |
| February 6, 2009 Issue: The party is over for Dubai’s property markets Canadian housing starts set to fall further Rate cuts will not support Korean Property market in 2009 German housing market will not stay immune forever |
January 30, 2009 Issue: Australian house price declines to accelerate in 2009 Outlook remains bleak for US Construction sector ECB on hold next week; will cut in March UK base rates heading for 1% |
| January 23, 2009 Issue: Indian interest rates have some way further to fall Hong Kong mortgage activity shows little optimism Transactions and house prices continue to fall in the US Euro area commercial property demand to fall in 2009 |
January 16, 2009 Issue: US housebuilders face a hard year in 2009 Hungarian interest rates set to fall further Chinese real estate investment to continue downtrend Price expectations weigh on euro area construction output |
| January 9, 2009 Issue: Weak economy hits house prices in Singapore House price falls to continue during 2009 across NZ ECB likely to ease next policy week Gloomy outlook for Canada in 2009 |
December 19, 2008 Issue: Hong Kong job losses increase pressure on property market Euro area lending growth to continue to slow No Christmas cheer for the US housing market Japanese housing and construction set to weaken in 2009 |
| December 12, 2008 Issue: Chinese real estate investment to take a further hit Australian downturn will depress new dwelling starts More bad news for European construction A hint of improvement in the US housing market |
December 5, 2008 Issue: Limited support from rate cuts for Indian property market Germany residential construction to fall in 2009 Canadian housing starts holding up better than some UK construction orders and commercial values to falter |
| November 28, 2008 Issue: German building will remain depressed US construction spending to fall further Hong Kong property prices to come under pressure UK mortgage approvals set to hit fresh lows |
November 21, 2008 Issue: Australian residential construction to record annual declines Weaker French construction to take its toll on employment Downturn continues in US economy and housing market UK Pre Budget report to provide boost for economy |
| November 14, 2008 Issue: More gloomy news expected from US housing market Hong Kong residential/commercial property hits buffers “Dosvidania” – Russia waves good bye to foreign capital Japanese construction spending to head lower into 2009 |
November 7, 2008 Issue: Chinese urban investment to signal weaker real estate Significant recovery in the German housing market unlikely Further weakness to come in Canadian housing market Q3 RICS Global Property Survey likely to be weak |
| October 31, 2008 Issue: US rate cuts will not prevent further weakness in housing ECB; 25 basis point cut at least on 6th November Australian house prices to post sharper falls BoE; 50 basis point cut at least on 6th November |
October 24, 2008 Issue: Pressure grows on South Korean construction sector Australian housing credit to fall further despite rate cuts US to show further weakness as home vacancies soar Euro area mortgage lending to slow further |
| October 17, 2008 Issue: US action will not prevent a recession Business confidence in France and Italy has further to fall Japanese Loan Survey to signal weaker housing appetite BBA data to show UK housing transactions near record lows |
October 10, 2008 Issue: US home builder sentiment set to dip once again Euro area construction activity will continue to fall Cypriot Commercial Property showing resilience to date No relief in sight for UK commercial property |
| October 3, 2008 Issue: French housing market to outperform Spain Australian housing finance to head lower on turmoil House price inflation to continue slowing in Canada Pressure grows to reverse recent rate hike in Korea |
September 26, 2008 Issue: Further drop in US construction spending likely Renewed jitters in lending markets to weigh on EU housing Japanese property market to come under renewed pressure More bad news on UK property likely |
| September 19, 2008 Issue: French building starts likely to fall further US house prices not yet at the bottom Activity in Hong Kong residential market to soften further Challenges ahead for UK housing market activity |
September 12, 2008 Issue: US tax credit could lift NAHB prospective buyers Euro area construction output to fall moderately Rates on hold in Japan despite rising inflation Hong Kong lettings set to slow on weaker labour market |
| September 5, 2008 Issue: Canadian residential construction resilient compared to US Bank of Korea to hold rates steady at 7 1/2 year high US pending home sales may see modest setback New Zealand housing activity is yet to find a floor |
August 15, 2008 Issue: Testing times for German housing market Hong Kong property market to weaken on slower growth US home builder sentiment to remain depressed Rightmove to signal further drop in UK asking prices |
| August 8, 2008 Issue: Renewed downturn in German construction on the cards Canadian housing holding up despite slowing price growth More bad news likely on UK commercial property Chinese house prices to show first falls in 18 months |
August 1, 2008 Issue: Yield shift gathers momentum on global slowdown Czech construction output set for further weakness RBA to stay on hold despite soft housing and labour data FED, ECB and BOE to hold rates steady |
| July 25, 2008 Issue: Spanish housing market activity to weaken further Australia housing approvals to continue downtrend US construction industry suffers as house prices fall Reserve Bank set to lift Indian interest rates again |
July 18, 2008 Issue: Euro area mortgage lending growth to slow further US REITs signal further falls in commercial property prices Japanese loan officers to turn more cautious Hong Kong residential lending to head lower into 2009 |
| July 11, 2008 Issue: Chinese residential investment to slip on tighter policy Gloomy US house builders will reduce housing starts further Strong Russian growth to underpin commercial real estate Further house price falls in New Zealand on the cards |
July 4, 2008 Issue: Canadian home builders to remain cautious as market slows Rates on hold in Korea on slowing economy UK house prices to continue to slip as MPC holds policy Rising inflation to test resolve of Czech National Bank |
| June 27, 2008 Issue: Bank lending to ease further in Singapore July ECB move will not deal knock out blow to house prices More bad news in store for UK real estate sector No change in Aussie rates |
June 20, 2008 Issue: Weak US housing to help keep the Fed on hold Hungary property activity to weaken despite no change in rates Weaker business confidence in the euro area Housing activity in the UK set for further drop |
| June 13, 2008 Issue: Swiss interest rate decision too close to call Euro area construction output to follow Germany Chinese residential investment to ease on inflation battle Gloom amongst US home builders set to continue |
June 6, 2008 Issue: Canadian homebuilding and house prices to slow further Improvement in UK commercial property to persist despite risks French house price growth likely to slow further Australian housing finance figures to confirm slowdown |
| May 30, 2008 Issue: Emerging commercial property markets weaker on credit gloom US construction recession to worsen and hit wider economy UK and Italian construction output to slow further UK mortgage approvals may see modest rebound |
May 23, 2008 Issue: French house building more resilient than in the US and UK More bad news on mortgage approvals in the UK Weak US consumer in no mood to spark housing revival Housing market boom in Hong Kong has further to run |
| May 16, 2008 Issue: Euro area construction output to revert back to slowing trend UK housing transactions continue to slide US house prices and sales to continue their declines Asian REIT shares may start to offer value |
May 9, 2008 Issue: German house prices likely to fall further US housing starts to decline with more job losses to come Chinese real estate investment to provide clues on liquidity UK IPD data to show further moderation in decline |
| May 1, 2008 Issue: House prices lose momentum in Australia Euro area Bank Lending Survey to show tighter credit conditions US commercial property continues to demonstrate resilience Korean rates to remain on hold for time being |
April 25, 2008 Issue: Activity in Spanish housing market to weaken further No relief in sight for real estate woes in the US Further policy tightening possible from the Indian central bank UK house building weakness to depress construction sentiment |
| April 18, 2008 Issue: Singapore property market remains buoyant Sales activity likely to remain weak in US Euro area mortgage lending growth to slow further in March Activity in UK housing market to remain subdued |
April 11, 2008 Issue: Unemployment holds the key to HK housing market in 2008 Further slowdown in UK commercial and residential markets Gloomy US home builders to cut production further German commercial property to show greater resilience |
| March 28, 2008 Issue: UK mortgage approvals to remain close to February lows Euro area mortgage lending growth to remain broadly stable Japanese housing starts to plateau amid weaker economy Troubles of the US construction industry set to deepen |
March 20, 2008 Issue: Imaginative Fed will need to do more No respite from American housing collapse HK property stocks weaker despite negative interest rates Permit overhang will limit falls in French house building activity |
| March 13, 2008 Issue: Italian housing market is likely to stagnate further Inflation battle to slow Indian commercial property US house building to fall further US commercial property market is resilient for now |
March 6, 2008 Issue: Tight vacancy rates to limit Japanese slowdown UK Budget to highlight economic and borrowing risks Mortgage lending in Australia to stagnate Residential lettings market in Great Britain remains strong in Q4 |
| February 28, 2008 Issue: Canadian permits to fall on home builder caution Singapore; no trigger for new wave of REIT privatizations NZ rates on hold as inflation remains a concern French house price growth to slow to 1% by end of 2008 |
February 22, 2008 Issue: House purchase lending growth in euro area to slow US house prices in free fall Japan to slow despite recovery in housing construction UK mortgage approvals may enjoy temporary bounce |
| February 14, 2008 Issue: Housing starts risk slipping below 1 million barrier Eurozone construction sector outlook weak UK housing market remains under pressure Land prices in Japan underpinned by economy |
February 7, 2008 Issue: More bad news likely on UK commercial property Fed action to stimulate Hong Kong housing Subsidence due in French and Portuguese construction Subdued Canadian house price growth to continue |