thailand

UK News

Stagnant Amidst Predictions of Nationwide Housing Price Declines

New data from Halifax reveals that only two UK regions, Greater London and the North East, experienced stable annual growth in house prices in March, with no slowdown observed. The average home price in the capital is now £537,250, showing a marginal increase of 0.1% compared to last year. In the wake of the pandemic-induced desire for spacious living, home buyers are searching for more reasonably priced areas, causing London’s house price growth to lag behind that of the rest of the country. Throughout the UK, house price growth has decelerated to its lowest point in over three years. As

April 7, 2023 No Comments

South East Asia News

Russian Investors Take Advantage of the Thailand Real Estate Market

There has been a significant increase in Russians’ involvement in Thailand and Indonesia’s property markets since the start of the year. The number of Russian investors in the Thai market has increased by over three times, while the Indonesian market has witnessed more than twice the activity. The surge in interest in these Asian property markets is primarily attributed to the perception of property investment as a lucrative opportunity, particularly with the anticipated revival of tourism and the anticipated relaxation of China’s borders, which is expected to lead to a rise in demand for both buying and renting properties. Tranio

April 3, 2023 No Comments

UK News

UK House Prices Experience Largest Drop Since 2009

In March, UK house prices experienced their steepest decline since 2009, with an annual fall of 3.1%, surpassing the 2.2% drop forecasted by economists. Data from Nationwide, a mortgage provider, revealed the extent of the negative impact of high inflation and increasing borrowing costs on the property market. House prices in March fell more than expected, with a 3.1% annual decline compared to the 1.1% decrease in the previous month. This marked the most significant year-on-year drop since July 2009. Property prices also experienced a larger-than-anticipated fall of 0.8% between February and March, continuing the uninterrupted decline seen since last

March 31, 2023 No Comments

UK News

London House Price Growth Decelerates as Rents Experience Biggest Surge Since 2013

Compared to the 5.9% yearly rise seen in December 2022, London home values rose by 3.3% between January 2019 and January 2020. According to the Office of National Statistics data, London had the lowest annual price increase of any area in England in the 12 months ending in January 2023. (ONS). The typical house cost in the city increased by 3.2% year-over-year in January to £534,000. This makes London’s housing market the most costly in the UK. Forecasters predict that London values will decline by five to ten percent this year as the property market and mortgage debtors adapt to

March 29, 2023 No Comments

News

Thai Police Arrest Scammers Targeting Elderly Americans in Phone Scam Scheme

Police in Thailand seized $87 million from an international network that used contact centers to scam elderly Americans into sending money. On Wednesday, Thai authorities announced they had broken up an international network that used contact centers to scam elderly Americans out of more than 3 billion baht ($87 million). On Tuesday, police raided nine sites across four regions in Thailand, confiscating 162 bank accounts, 61 mobile phones, two vehicles, one pistol, and numerous real estate assets and arresting 21 suspects. On Wednesday, a second suspect from Thailand was apprehended. U.S. operatives participated in the operations. Five Indians and 15

March 27, 2023 No Comments

New Zealand News

Interest Rate Hikes Spark Largest Property Sales Slump in Nearly 40 Years, says CoreLogic

The clash of rising interest rates on the housing market has been significant, according to new data showing that property transactions in New Zealand have dropped to their lowest level in nearly 40 years. CoreLogic data shows that the number of homes sold in the 12 months ending in February 2023 was 60,859, the lowest 12-month total since October 1983. The number is down 32.7% from the prior year. While February’s 4100 transactions were the fewest in any February since at least 1981, a decrease of 33.1% from the same month a year ago. CoreLogic attributes the downturn to rising

March 24, 2023 No Comments

News

Severe Rain and Hail Storms Cause Property Damage Across Chiang Mai

Chiang Mai, a serene haven nestled in northern Thailand, recently faced an unexpected onslaught of heavy rain and ice, leaving a trail of destruction in its wake. Despite the resilience of its residents, the region grappled with the aftermath of nature’s fury. Nature’s Fury Unleashed: On a seemingly ordinary Saturday, Chiang Mai was thrust into chaos as heavy rain and ice wreaked havoc across the landscape. Homes, utility lines, trees, and signs bore the brunt of the onslaught, showcasing the raw power of nature. Despite the intensity of the storm, the community rallied together, displaying remarkable resilience in the face

March 20, 2023 No Comments

Australia News

Australian Homeowners Feel the Pinch as Interest Rates Bite Hard

Sydney has one of the most costly real estate marketplaces in the world. Still, Singaporean Julian Choo, who relocated to Australia in 2010, and his Australian-Malaysian wife Joanne Chai were able to purchase their first house there four years ago. Shortly after their acquisition, the Covid-19 epidemic broke out, and their property’s worth skyrocketed as interest rates hit a new low of 0.1 percent. The central bank’s promise that interest rates wouldn’t increase until at least 2024 encouraged the pair to make another real estate investment. At the end of 2021, they made a wise investment by purchasing a home

March 17, 2023 No Comments

UK News

London’s Property Market Sees Surge in Million-Pound Homes

There was a period when having a house worth more than £1 million (currently about $1.186 million) in the British city signified something. Not any longer, though. According to official government statistics from the United Kingdom, the typical price of selling property in London is £537,510 (about $637,200). However, owning a seven-figure home in the nation’s capital is becoming increasingly standard. The average selling price of a home in 41% of London’s 283 postcode areas was £1 million or more as of November 2022, according to data from the estate agency Hamptons. In the two years between 2021 and 2022,

March 13, 2023 No Comments

New Zealand News

New Zealand Housing Market Predicted to Plummet to Great Recession Lows, says ASB.

New Zealanders’ hopes for home prices have dropped to levels not seen since the Great Recession. Compared to last year at this time, when 49% of respondents expected prices to rise, this year’s ASB home optimism poll found that 43% expected prices to decline. At the height of the GFC, 55% of respondents in July 2008 predicted lower costs in the coming year. ASB senior economist Kim Mundy predicts housing mood will decline even further, even though forecasts haven’t yet reached rock bottom. “The housing market has been weak of late, and it doesn’t look like it’s going to turn

March 10, 2023 No Comments