RESIDENTIAL PROPERTY | Staff Reporter, Singapore

China's housing prices rise fastest despite global slowdown in Q2

This is the sixth consecutive quarter of slowing price growth.

For the first time since 2010, China’s housing prices rose fastest in Q2 at 10.9% YoY despite a global growth slowdown, a report by Knight Frank revealed. This represents the index’s lowest percentage for a top performer since the first quarter of 2009, and the sixth consecutive quarter of price growth slowdowns.

Overall, the second quarter saw the highest percentage of countries and territories register either flat or positive price growth year-on-year since 2009, at 93%.

Enge links to china property market

According to the Global House Price Index, China clinched the top spot as housing prices in Slovenia (8.4%) and Latvia (7.1%), last quarter’s frontrunners, slowed at a faster rate.

Globally, the trade disputes between US-China and Japan-South Korea, the ongoing issue of Brexit in the UK, various mass protests to weakening economic forecasts all weighed down on buyer sentiment despite a raft of interest rate cuts in the last three months, the report said.

Singapore came 44th at the list with a 1.4% expansion on housing prices, whilst Hong Kong ranked 37th with housing prices recorded to have risen provisionally at 2.7% during the period.

Four countries recorded declines: Morocco (-0.8%), Italy (-0.8%), Finland (-2.6%) and Australia (-7.4%).

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