USA
Goldman Sachs predicts U.S. home prices will rise by over 4% in 2024, driven by falling mortgage rates and steady demand. Strong price growth is expected in areas like the Midwest, Northeast (New York, Boston), and parts of California (especially San Diego and San Jose). However, regions like Florida, hit hard by affordability issues and rising insurance costs, are expected to perform worse.
Source: U.S. House Prices Are Forecast to Rise More Than 4 Percent Next Year
U.K.
The U.K. housing market showed signs of bouncing back in August 2024, thanks in large part to a drop in Bank of England interest rates. A RICS survey highlighted that increased demand from buyers is pushing prices upward. Although conditions vary across regions, the overall trend is one of recovery.
Source: U.K. Housing Market Recovered Further in August
Canada
Canada’s housing market is likely to pick up in 2024 thanks to recent interest rate cuts. While the market has cooled, particularly in places like Toronto’s condo scene, prices aren’t expected to rise much in the near term. These rate cuts might make it easier for first-time buyers to enter the market, though affordability will still be tough for many. We may see more competition as borrowing becomes cheaper, but long-term price trends remain unclear, especially with different dynamics in various regions.
Source: Fall housing market could be ripe for 1st-time buyers. Here’s why
Australia
More than a quarter of Australian suburbs, particularly in major cities like Sydney, Melbourne, and Brisbane, have seen property values decline. This trend is largely due to interest rate hikes, which have curbed buyer demand, especially in middle and outer-ring suburbs where affordability is more impacted. Despite strong population growth, the market has cooled, with key suburban areas experiencing price drops, while inner-city areas remain more resilient but still affected.
Source: More Than a Quarter of Australian Suburbs See Value Drop
Dubai
When considering renting or buying property in Dubai, it's essential to factor in lifestyle needs, market trends, and property types. The choice between apartments and villas, the benefits of off-plan properties, and a careful comparison of prices and amenities are critical to making the right investment. Proper inspections and financial planning are also important.
Source: What to know before renting or buying in Dubai
Singapore
Singapore’s real estate market remains strong, with record-breaking transactions reflecting investor confidence. The sale of an office building on Orchard Road for US$24 million in September 2024 highlights rising interest, particularly in the commercial sector. This sale signals robust foreign and domestic investment interest despite cooling measures introduced in the residential sector.
Source: Singapore’s Record-Setting US$24 Million Office Sale on Orchard Road Signals Investor Interest
Portugal
The Algarve region of Portugal is seeing a surge in demand from wealthy American buyers, driving up property prices. This trend is spurred by Portugal's attractive golden visa program, mild climate, and lifestyle appeal, making it a top destination for foreign investment in luxury homes.
Source: Portugal’s Algarve Housing Market Sees Surge in Wealthy American Buyers
