The latest update on residential property market activity in Hong Kong is due shortly as the Hong Kong Monetary Authority publishes the November mortgage survey. Furthermore, a sharp increase in retail sales and imports in October and November respectively indicate much improved consumer sentiment. With the labour market also on the mend, house prices will gain momentum.
UK commercial property may see double digit returns in 2010
The recovery in UK commercial property prices gained momentum in November. This week's release from IPD showed a 2.4% rise in capital values which was the largest monthly gain since March 1994. An additional positive for the market, is the nascent improvement in lettings activity which was recorded in the latest RICS UK commercial property survey.
Euro area mortgage lending to grow modestly at best in 2010
Euro area M3 lending data for November is due from the ECB on Wednesday 30th. Annual growth in M3 lending is currently running at 0.3%. This is the lowest figure on record (the series began in January 1980) and compares to the peak of 12.5% in October 2007. Over the next 12 - 18 months, we are likely to see only modest growth in mortgage lending at best, rather than a fully fledged recovery.
Hungarian home loans continue to slip but interest rates head lower
The Hungarian central bank (MNB) meets again on Monday 21st having cut interest rates last month to their lowest level since June 2006.
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