RICS Global RE Weekly: Hong Kong Housing Price Growth to Ease

News provided by

Royal Institution of Chartered Surveyors (RICS)

Feb 19, 2010, 04:14 ET

HONG KONG, Feb. 19 /PRNewswire-Asia/ -- Several key pieces of economic data are released next week in Hong Kong. The latest inflation numbers for January are due on Tuesday 23rd whilst GDP figures for Q4 are released on Wednesday 24th. RICS expect residential property price growth to ease in the coming months following a period of gradual decline in activity since the summer.

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Indian budget key for property sector

The Indian budget takes place on Friday 26th which will be closely watched for its implications for the property sector. Indian house prices rose rapidly between 2003 to 2007 as strong economic growth, buoyed by a booming global economy and ongoing urbanisation trends, supported activity.

Snow knocks UK mortgage approvals in January

For the real estate sector, the most relevant data release in the UK over the next week will be lending numbers from the British Bankers' Association (BBA) on Tuesday 23rd. The RICS Housing Market survey found that, when measured on a seasonally adjusted basis, there was a sharp fall in both new buyer enquiries and new instructions to estate agents in January.

Spanish housing market activity to remain subdued

Spanish mortgage approval data for December is due from the INE on Thursday 25th. Having gradually recovered since their November 2008 trough of 80,535, approvals have fallen by 20% over the last two months and are now only 4% above their low point.

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SOURCE Royal Institution of Chartered Surveyors (RICS)

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