Here is the latest roundup of global real estate trends in key real estate markets around the world. Whether you're a seasoned investor or just starting out, these insights can help inform your global investment strategy.
Australia
The Australian housing market is facing varied price increases over the next year. Smaller capitals like Perth and Adelaide are leading with significant growth prospects due to affordability and limited supply. Hobart and Canberra show more modest forecasts, while Sydney, Melbourne, and Brisbane are looking at moderate rises. Suburbs in Perth and Adelaide, such as Darlington and Plympton, had notable price spikes, a sign of a strong market.
GMG Australia Loan Program:
- Rate: Starting at 7.8% variable
- Term: 30 years max
- Max Loan-to-Value (LTV): 85% LTV and interest-only payment available.
- Max Loan Amount: AU$2,000,000
- Second Home Allowed: Yes
- Borrower Type: Salaried and self-employed
- Processing Time: 30 days after documents are submitted
Read more: Where home prices are forecast to increase most in the next year
Canada
Despite the Bank of Canada's quarter-point interest rate cut not leading to a surge in homebuyer demand, Canada's housing market shows resilience in other areas. The national aggregate home price increased by 1.9% year-over-year to reach $824,300 in the second quarter of 2024. Demand continues to outpace supply in regions like the Prairies and Quebec, highlighting robust market dynamics even as activity slows in cities like Toronto and Vancouver.
GMG Canada Loan Program:
- Rate: Starting at 4.99% - 6.79% fixed rates; variable rates at 5.8% - 7.2%
- Term: 1-10 years fixed; 5-year variable rate; maximum 35 years amortization
- Max Loan-to-Value (LTV): Up to 95%*
- Max Loan Amount: No maximum
- Second Home Allowed: Only for permanent resident card holders or expats
- Borrower Types: U.S. expats or foreign nationals
- Processing Time: Conditional approval within a week; funded within 30 days
Read more: The tale the market tells': An update on Canada's real estate markets
UK
UK house sales are expected to rise in the next three months as a reduction in mortgage rates is anticipated. A Rics survey shows a positive outlook, with 20% of professionals predicting increased home sales - the highest since January 2022. Following expectations of Bank of England's rate cut from 5.25% to 5%, major banks have already started to lower mortgage rates. The newly elected Labour government has targeted to deliver 1.5 million homes, boosting market confidence. Additionally, 54% of survey respondents expect house prices to rise, indicating a vote of confidence despite current challenges.
GMG UK Loan Program:
- Rate: Starting at 5.5% (lowest)
- Term: Up to 25 years
- Max Loan-to-Value (LTV): 75%
- Max Loan Amount: £10 million (higher amounts possible)
- Second Home Allowed: Yes
- Borrower Types: No primary residence requirement
- Processing Time: 5-6 weeks
Read more: UK property market set to rebound amid mortgage rate drop expectations
Portugal
Planning to retire in Portugal post-Golden Visa reforms? The recent end to Portugal's 'golden visa' scheme, aimed at easing pressure on the housing market, has reshaped residency options but hasn't closed all doors. While property investment no longer qualifies, alternatives like investing in research or cultural projects under the Autorização de Residência para Atividade de Investimento (ARI) visa are viable. Another popular option is the D7 visa, requiring proof of steady income, such as pensions or rental earnings. Despite the changes, Portugal’s appeal remains attractive, with lower living costs compared to other cities, making it a desirable investment destination.
GMG Portugal Loan Program:
- Rate: Starting at 3.5%
- Term: Flexible terms available
- Max Loan-to-Value (LTV): Up to 70% (max 60% preferred)
- Max Loan Amount: Varies
- Second Home Allowed: Yes
- Processing Time: 6-8 weeks
- Requirements: DTI up to 40% (can exceed in some cases)
Read more: How to Retire to Portugal From the UK Post-Golden Visa
France
The French Riviera's luxury property market is seeing a cooling trend after surging during the pandemic. Prices in places like Cannes and St. Jean Cap Ferrat have dipped slightly, providing a great opportunity for potential buyers. Global uncertainties and higher interest rates have slowed demand from foreign buyers. Despite this, exclusive areas like Saint Tropez and Monaco continue to command high prices due to their limited supply and prestige.
GMG France Loan Program:
- Rate: Starting at 3.5%
- Term: Maximum 75 years old and/or 20 years
- Max Loan-to-Value: 70%
- Max Loan Amount: No maximum
- Second Home Allowed: Yes
- Loan Costs: Approximately 0.5% from the lender
- Processing Time: 3 months
- Requirements: DTI 35%
Read more: A Window Has Cracked Open For Buyers Looking For Homes Along the French Riviera
Whether you are investing in Tokyo's vibrant wards, considering retirement in Portugal, or exploring opportunities in the U.S., Global Mortgage Group offers tailored lending solutions to support your international investment goals. Stay informed, seize opportunities, and navigate global real estate with confidence. Get in touch with us today to make well-informed decisions for your investments.
