Interesting to see the prices for rent going down, while in the larger cities in my country the Netherlands, rent prices went way up compared to last year, between 4 and 6 percent. Though in recent months (maybe last half a year), the rent prices came down, as they say due to: less AirBnB and less expats.
We are in our 2nd lockdown since a few weeks, which will continue at least till mid-December. Wondering what this does to rent prices and all. Restaurants, Bars, Museums, Concert halls, are all closed, so nothing to do for tourists. Though I love the renewed emptiness in Amsterdam :)
Guess 2021 can be a bummer as well when we continue lockdown after lockdown. I do hope our government listens to my suggestions I posted to one of the members of the governments advisory team... Not only listens, but also execute accordingly so we can pickup accepting tourists again, and let the expats return to the beautiful Venice of the North :)
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We're in a property price bubble here, drive by lack of supply and government stimulus and incentives. Here in South Australia, a new home buyer (never owned property before) can gain up to $40,000 from the government if they buy land and build. It's a lot of money considering the average house and land package is only around $400,000. (A basic house on only 300m2 of land.)
The bubble will burst though, eventually.
I was surprised to see rents going up in places, but that's an overall snapshot and when I drill down deeper the numbers are a little more alarming and certainly vastly different from city to city around the country, and within my own city, suburb to suburb. It's not a situation that one simple post could ever explain.
I hope you can see an end to the lockdowns soon and things can return to normal.
!ENGAGE 25
I suppose also in my country a bubble is created in house prices. Not by stimuli of the government, but by international investors (Russians and Chinese) buying with big money. Some say, because London and Paris become too expansive, they started buying in Amsterdam. By now these investors are looking at surrounding cities as well to buy due to exploded prices in our capital city. The low interest rates also doesnt help, and knowing these interest rates will not go up any time soon, it'll result in Dutchies with a relatively ok income to overpay for apartments and houses just to be able to move away from expensive rentals. Interesting times ahead of us, thats for sure :)
Hopefully indeed :)( But I expect more lockdowns to follow; Our government doesnt have a long(er) term plan, unfortunately. I guess in Aussieland no problems with COVID at the moment due to your Summertime?
We get a lot of. Honest buyers here too, disturbingly the commercial property buyers are communist party members mostly. They come here with big money and buy up and then don't do anything with the property, no businesses etc. It's a problem but our government allow it so I blame them. It happens to a degree with residential property too. It's alarming, but people just stick their head in the sand over it preferring to make a grab at short term money with no care for the long term problem it's going to create.
Melbourne was recently totally lo led down for almost 4 months due to a second wave of pandemic...Most other States were fine, mine included. It may happen again I guess.
Thats the problem of the last many decades I think, we become more and more short term focussed, while becoming more blind for the longer term effects.
Hopefully not :)
I guess all we can do is command our own actions and hope for the best. But in a society where money seems to do the talking, corruption is rife and governments are so short term...It doesn't bode well.
100% agree! :)
I should sell my apartment, monetise while the market is up and buy back in a dip...hmmmm camper van is the solution I suppose: living and travelling in one :)
I'd like the camper van life....We're working that way. Planning a year off to start and see how it goes.
ENGAGEtokens.