World news

Beijing's commercial property woes

Beijing's commercial real estate market, faced with an oversupply and rising vacancy rates, will remain under downward pressure in the second half of this year despite a strong recovery in the residential sector, industry experts said.

U.S. homebuilder sentiment lower in June

U.S. homebuilder sentiment slipped in June, a private survey showed on Monday, as higher mortgage rates and an ongoing credit crunch damped expectations for the sector.

Canadian home resale prices rise to record in May

Resale prices for Canadian homes rose to their highest average on record in May, while sales activity climbed for a fourth straight month as consumer confidence strengthened, according to an industry report released on Monday.

Home ownership 'aspirations hit' in UK

Young people's aspirations of home ownership have shrunk as a result of the recession, according to a survey. The proportion of UK youngsters who believed owning their own home was "the ideal living situation" dropped in the last year, the poll found.

U.K. house prices may drop 14% in 2009

U.K. house prices may fall as much as 14 percent this year as more people lose their jobs, Jones Lang LaSalle Inc. said.