Real estate becomes cheaper worldwide
11 March 2009Results of research, published by company Knight Frank, testify that essential influence of crisis of liquidity is felt in all real estate markets.
During October-December, 2008, reduction of prices on the inhabited real estate objects was observed in 80% of countries, participating in research, in 4 quarter of 2007 this indicator made 27 %.
Knight Frank’s report it is spoken that in seven countries prices have grown more, than on 10 %, average values have started to decrease already in six of them.
During 2008 the cost of the inhabited real estate in Dubai has grown almost on 60 %, nevertheless, experts believe that the great honor of this gain can come to current year. From all countries Latvia has shown the most considerable falling, both annual (-33,5 %), and quarter (-16 %).
It is obvious, that all real estate markets in the world will face consequences of world financial crisis though influence degree will be unequal.
