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The number of cities with falling house prices in China is greater than that of rising cities in 2021. Of the 316 cities across the country, 143 rose year-on-year in 2021, one was flat, while 172 fell back to the cities a year ago, according to the China House Price Network. Of the more than half of the falling cities, Shenzhen, once known as the “city of real estate speculation”, fell as much as 19%.
As house prices have soared, the average profit of British sellers has reached a new high of £95000, equivalent to an increase of 46 per cent from the original price, according to the latest Hamptons figures.
Compared with the average profit on property sales in 2020, it increased by 14.1%. 92% of the sellers sold the property at a price higher than the purchase price, and these sellers held the property for an average of 8.8 years.
In the luxury market, sales of luxury properties in London totaled £11.6 billion in 2021, 45 per cent higher than in 2020 and 37 per cent higher than the average over the past five years.
Hamptons estimates that London sellers earned the most in all parts of the UK in 2020, holding them for an average of 9.1 years and making a profit of 197730 pounds. The average price of a house sold in London in 2021 is 76 per cent higher than the original price, and about 91 per cent of London property sellers make a profit, with a total gross profit of about £30.96 billion in 2021.
Savills predicts that house prices in London will rise by an average of 2 per cent in 2022, with prime downtown areas rising by 10 per cent and 5.6 per cent over the next five years. This means that the average value of London property will reach nearly 714000 pounds by 2026.
According to data from the British Office of National Statistics, house prices in Greater London have risen 106 times in the past 50 years, with an annualized compound growth rate of 10.05%, far exceeding the average increase of 61 and 70 times in Britain and England. it is bound to continue to grow all the way in the future.
BTW, Li Ka-shing has sold some of his British assets and returned to invest in Hong Kong (over the past year or so, Li Ka-shing has taken 115.5 billion of his assets from overseas markets and companies, invested in Chinese mainland, won Chongqing and Guangdong in 2021, and bought many pieces of land in Hong Kong in early 2022. (what does this signal mean? An alternative signal that house prices in the UK are peaking in stages.