Global Property Investor – Canada’s Home Sales Rise 1.9% in September as Affordability Concerns Persist

Non Resident Mortgage Canada

USA

The U.S. is facing a growing housing crisis, with an estimated 5.6 million vacant homes despite high demand in the housing market. Vacancy rates have surged as affordability worsens due to rising mortgage rates and limited supply. This disconnect between available homes and potential buyers continues to pressure the market, contributing to the ongoing housing crisis. Experts suggest that without intervention, the U.S. could face further complications in addressing this housing supply-demand imbalance.

Source: 5.6 Million Vacant Homes and Counting—There Is a Massive Housing Crisis Brewing in America

U.K.

U.K. house prices experienced a slight rise in October 2024, but affordability remains a major issue, especially for first-time buyers. While some regions have seen stabilisation, particularly outside of London, rising mortgage rates and the cost of living continue to impact the ability of buyers to enter the market. The Royal Institution of Chartered Surveyors (RICS) noted that while demand is increasing, affordability challenges persist, particularly for renters facing mounting pressures in urban areas.

Source: Office for National Statistics Sees Sixth Consecutive Month Of House Prices Rises, Up 2.8% In Year To August

Canada

Canada's existing home sales rose by 1.9% in September 2024, reflecting a rebound in market activity. This growth follows a period of sluggish sales, as buyers begin to return despite higher mortgage rates and affordability challenges. However, while sales are increasing, the housing supply remains tight, with prices continuing to rise in key cities like Toronto and Vancouver. The imbalance between supply and demand remains a significant issue, worsening affordability concerns for many Canadians.

Source: Canada Existing Home Sales Jump 1.9% in September

Australia

Australia’s property market continues to attract strong investor interest, despite slowing growth. Citi’s Australia Chief recently noted that five of the top six most in-demand companies are in the real estate sector, driven by expectations of a potential central bank easing cycle. While home values rose by only 1.0% in Q3 2024, demand remains steady in inner-city areas, boosted by population growth. However, suburban markets in Sydney and Melbourne are cooling as cautious buyers and higher listings contribute to the slowdown.

Source: Citi's Australia Chief Says Real Estate Tops Investor Interest

Dubai

A record-breaking leasing deal in Dubai’s luxury property market saw a waterfront mansion on Jumeirah Bay Island rented out for AED 15.5 million annually. It emphasizes the high demand for ultra-luxury properties in Dubai, particularly among high-net-worth individuals and investors. This deal showcases Dubai’s prominence as a global hotspot for luxury real estate, with a surge in high-value transactions.

Source: Jumeirah Bay Island Mansion Sets Rental Record in Dubai

Singapore

Singapore’s private home sales saw a sharp rise in September 2024, reflecting renewed buyer interest in the property market. While the overall housing market has faced some challenges this year, the luxury property segment remains robust, with strong demand from both local and international buyers. The increase in sales indicates growing confidence in the market, with high-end properties driving the resurgence. This trend is expected to continue as investors seek stable, high-value investments.

Source: Singapore Private Home Sales Rose Sharply in September

Global Property Investor – Australia’s Property Market Hits $11 Trillion Despite Growth Slowdown

Global Mortgage Group

USA 

U.S. mortgage rates rose to 6.32% for a 30-year fixed loan, the biggest increase since April. Freddie Mac’s economist noted that the rise reflects economic strength, despite higher rates making affordability tougher. While some buyers may hesitate, others are advised to act now since lower rates may not return soon. Melissa Cohn suggests focusing on finding the right home first and “worry about rates secondly,” as future rate drops remain uncertain.

Source: Mortgage Rates Jump Most Since April, Sending 30-Year to 6.32% 

U.K. 

Although renters continue to face mounting pressure, the U.K. property market shows signs of resilience as it recovers from past economic instability. House prices have started to stabilize in some regions, but affordability remains a significant issue, especially outside London. The Royal Institution of Chartered Surveyors (RICS) notes that while demand increases, affordability issues are still challenging for many potential buyers. 

Source: U.K. property market strengthens, pressure on renters intensifies, RICS says

Canada 

Canada's apartment rental market reached historic tightness in 2023, with vacancy rates at a record low of 1.5%. Rent for a two-bedroom unit increased by 8%, highlighting the affordability crisis, especially in cities like Toronto and Vancouver. The demand, fueled by high immigration, continues to outpace supply, worsening affordability issues across major cities.

Source: Canada’s Apartment Rental Market Tightest on Record in 2023

Australia

Australia’s property market is now valued at $11 trillion, but growth has slowed. Home values rose only 1.0% in the September quarter, the smallest increase since early 2023. Growth is slowest in Sydney and Melbourne’s suburbs due to cautious buyers and more listings. Inner-city areas are holding steady thanks to demand and population growth, but affordability remains a challenge as prices stay high.

Source: Australian property market reaches $11 trillion as national price growth slows 

Dubai 

Dubai's real estate market continues to thrive, attracting global investors with its appealing lifestyle and high rental yields. Popular areas like Dubai Marina and Jumeirah remain in demand, driven by favourable market conditions and a growing interest in luxury and mid-market properties. The city's real estate sector is a hot spot for investors looking to relocate or diversify their portfolios. 

Source: Looking To Relocate Overseas? Check Out These Hot Real Estate Markets With Dubai Continuing To Be One Of The Top Since The Pandemic

Singapore

Singapore’s property investment sales rose by 8% in Q3 2024, reaching S$8.3 billion. Demand is strong for high-end properties, with interest from both local and international buyers. While the overall market faces some challenges, such as a dip in private home sales, the luxury property market remains solid.

Source: Singapore Property Investment Sales Pick Up in Q3, Up 8% QOQ to S$8.3 Billion 

Global Property Investor – U.K. House Prices Bounce Back with 2.2% Growth in August Following Rate Cuts

International Mortgage Company

USA

The Federal Reserve’s 50 basis point rate cut on September 18, 2024, is expected to lower borrowing costs, providing relief for homebuyers and investors. Mortgage rates may decrease, spurring demand for housing in regions such as the Northeast and Midwest. However, affordability concerns remain in areas like Florida, where rising insurance costs continue to be a challenge for the housing market.

Source: Key takeaways from the Fed’s decision to deliver a jumbo-sized interest rate cut

U.K.

London’s housing market defied the national trend in July, showing resilience despite broader declines in property prices across the U.K. While other regions experienced price drops due to high inflation and mortgage costs, London maintained stable growth, driven by strong demand in the capital. Analysts note that London’s unique market dynamics, including foreign investment and limited housing supply, have insulated it from the national downturn.

Source: London house prices defy national mood, drop in July

Canada

In August 2024, Canadian home sales increased by 1.3%, particularly in cities like Calgary and Ottawa. While Toronto and Vancouver remain sluggish due to high home prices and affordability challenges, smaller urban areas are experiencing renewed interest. The recent interest rate cuts are making it easier for buyers to enter the market, although overall sales remain below historical averages. The long-term trend is uncertain, with affordability still being a significant issue in major cities.

Source: Canada Existing-Home Sales Climb 1.3% in August From July

Australia

Australia’s housing market is facing a crisis, with over a quarter of suburbs experiencing declining property values. Interest rate hikes have weakened demand, particularly in outer and middle-ring suburbs in cities like Sydney, Melbourne, and Brisbane. Despite strong population growth, rising rates have made housing less affordable, driving prices down in suburban areas. Inner-city markets are more resilient but are not immune to the slowdown.

Source: The severity of Australia’s housing affordability crisis is obvious - this is how politicians could fix it

Dubai

Dubai’s real estate market continues to attract investors, with both apartments and villas showing strong demand. Key investment areas such as Dubai Marina, Downtown Dubai, and Jumeirah remain popular. Buyers are drawn to off-plan properties due to favorable payment plans, while resale properties are seeing increased interest due to strong rental yields. Thorough property inspections and financial planning are essential for those entering the market, particularly with high demand for both luxury and mid-market properties.

Source: Dubai real estate guide: Resale market trends, opportunities and popular areas to look out for

Singapore

The U.S. Federal Reserve’s recent interest rate cut is influencing Singapore’s financial landscape, particularly affecting mortgage and savings interest rates. As borrowing becomes cheaper, homeowners with variable-rate mortgages may see lower monthly payments, and real estate investors could benefit from reduced financing costs. Analysts predict that the real estate market, especially in high-demand areas like Orchard Road and Marina Bay, could experience a rise in investor activity as financing becomes more affordable.

Source: CNA Explains: What does a Fed rate cut mean for you in Singapore?

U.S. Banks DO NOT want you to know this!

International Mortgage Loans

It’s been a hectic week with several conferences in town and F1 next week. As we are all waiting for the Fed’s decision this week, I wanted to update everyone on a new loan program that has been very popular since we launched it.

Did you know you can qualify for a U.S. mortgage by using ONLY the rental income of your investment property - there is no need to show personal income!

Introducing - GMG U.S. Rental Coverage Ratio 1.0 Program

“PROJECTED” RENT ÷ [ MORTGAGE + TAX/INSURANCE/HOA ] ≥ 1.0 = YOU QUALIFY!

We use the rental income generated from the property investment, and there is no need to qualify using your personal income!

It’s common-sense underwriting, designed specifically for overseas investors, including both foreign nationals and U.S. expats.

What Factors Affect the Rental Coverage Ratio 1.0

GMG U.S. Rental Coverage Ratio 1.0 is affected by Operating Income and Debt Service. I’ll talk about this below, but Operating Income (rent) is trending up, and Debt Service (mortgage rates) is trending down. That is to say, future margins will be higher (income up + costs down).

There are 2 constants in the U.S. real estate market:

1. Property/Rental prices will go up (income)

2. Rates will eventually be lowered (cost)

Here’s why:

1. There is a shortage of 7M homes in the U.S. 

With mortgage rates where they are now, the marginal buyer cannot afford to purchase a home and is forced to rent. Many institutions like Blackstone are also trying to buy up as much supply as possible so they can dictate pricing. 

Trend = income up

2. We can assume there will be a 25-50bps cut this week in the Fed Funds rate.  Mortgage rates have already factored this in and are at multi-year lows now. 

Trend = costs down

What makes the U.S. real estate market so unique is that you can buy a home today and then refinance it at a lower rate when rates fall or when the price goes up.

Here is a snapshot of our U.S. mortgage solutions:

No age restrictions on loan tenure: Maximize your yield potential with 30–40-year amortization. Regardless of whether you are 19 or 99, you can qualify for the longest tenure possible. (This is a U.S. government anti-discrimination policy)

No limit on the number of properties owned with maximum LTV financing: We understand building a real estate portfolio requires leverage. Global Mortgage Group’s loan programs allow you to obtain the maximum LTV available regardless of the number of properties owned.

30-year loan program with 10-year fixed interest only: Global Mortgage Group features a 30-year amortization on many of our loans. The 10-year interest-only option is a fantastic way to lock in a long-term fixed rate with the flexibility to keep it for 30-years without seeing any rate adjustment. Rates go up; your payment remains the same. Rates go down; refinance into a lower rate or stay with the comfortable payment you have locked in. It’s that flexible!

Refinance when rates go down: When rates decrease, your Global Mortgage Group loan officer will analyze the lower rate options and present a clear and concise proposal that shows a breakeven point for any costs incurred in the refinance. 

Loan programs in all 50 U.S. states: Our loan programs are available in every city and state. Want to buy a condo on the beach in Waikiki, Hawaii, or refinance a single-family home in Houston, Texas — We have loan programs.

No U.S. credit required: Our loan programs do not require the borrower to have U.S. credit. We’re able to use your home country credit if available. If you don’t have a credit reporting agency in your home country, no problem – speak with one of our U.S. loan officers for an exception. We do it all the time.

U.S. expat loans with no W2 and foreign earned income: Are you a U.S. expat frustrated by the lack of a W2 or dealing with foreign-earned income? These are not problems for Global Mortgage Group. For U.S. expats, we make it as easy as if you were living and working in the U.S. and walking into your local bank. There is no premium in pricing, and it’s truly that easy.

Free pre-approval letters in 72 hours: The first thing we recommend for anyone looking to purchase a property is to get pre-approved. This is for a couple of reasons: 1) You should fully understand and be comfortable with the mortgage loan term and tenure you’re obtaining 2) You will need a pre-approval rate before any offer on U.S. property will be taken seriously. 

There has never been a better time to own U.S. residential real estate as an investment!

In summary, GMG U.S. Rental Coverage Ratio 1.0 offers a groundbreaking solution for both U.S. expats and non-resident investors. By focusing on rental income instead of personal earnings, this program helps people overcome typical mortgage hurdles. With a dedication to clear and accessible mortgage options, Global Mortgage Group remains at the forefront of real estate financing. Secure your path to financial success with GMG U.S. Rental Coverage Ratio 1.0today. Contact us to learn more.

www.gmg.asia

Global Property Investor – U.S. House Prices Forecast to Rise Over 4% in 2024

Global Property Investor - U.S. House

USA

Goldman Sachs predicts U.S. home prices will rise by over 4% in 2024, driven by falling mortgage rates and steady demand. Strong price growth is expected in areas like the Midwest, Northeast (New York, Boston), and parts of California (especially San Diego and San Jose). However, regions like Florida, hit hard by affordability issues and rising insurance costs, are expected to perform worse.

Source: U.S. House Prices Are Forecast to Rise More Than 4 Percent Next Year

U.K.

The U.K. housing market showed signs of bouncing back in August 2024, thanks in large part to a drop in Bank of England interest rates. A RICS survey highlighted that increased demand from buyers is pushing prices upward. Although conditions vary across regions, the overall trend is one of recovery.

Source: U.K. Housing Market Recovered Further in August

Canada

Canada’s housing market is likely to pick up in 2024 thanks to recent interest rate cuts. While the market has cooled, particularly in places like Toronto’s condo scene, prices aren’t expected to rise much in the near term. These rate cuts might make it easier for first-time buyers to enter the market, though affordability will still be tough for many. We may see more competition as borrowing becomes cheaper, but long-term price trends remain unclear, especially with different dynamics in various regions.

Source: Fall housing market could be ripe for 1st-time buyers. Here’s why

Australia

More than a quarter of Australian suburbs, particularly in major cities like Sydney, Melbourne, and Brisbane, have seen property values decline. This trend is largely due to interest rate hikes, which have curbed buyer demand, especially in middle and outer-ring suburbs where affordability is more impacted. Despite strong population growth, the market has cooled, with key suburban areas experiencing price drops, while inner-city areas remain more resilient but still affected.

Source: More Than a Quarter of Australian Suburbs See Value Drop 

Dubai

When considering renting or buying property in Dubai, it's essential to factor in lifestyle needs, market trends, and property types. The choice between apartments and villas, the benefits of off-plan properties, and a careful comparison of prices and amenities are critical to making the right investment. Proper inspections and financial planning are also important.

Source: What to know before renting or buying in Dubai

Singapore

Singapore’s real estate market remains strong, with record-breaking transactions reflecting investor confidence. The sale of an office building on Orchard Road for US$24 million in September 2024 highlights rising interest, particularly in the commercial sector. This sale signals robust foreign and domestic investment interest despite cooling measures introduced in the residential sector.

Source: Singapore’s Record-Setting US$24 Million Office Sale on Orchard Road Signals Investor Interest

Portugal

The Algarve region of Portugal is seeing a surge in demand from wealthy American buyers, driving up property prices. This trend is spurred by Portugal's attractive golden visa program, mild climate, and lifestyle appeal, making it a top destination for foreign investment in luxury homes.

Source: Portugal’s Algarve Housing Market Sees Surge in Wealthy American Buyers

www.gmg.asia

Taxes weaken markets in September + Short EURO / Long U.S. real estate? 

International Mortgage Loans

Expect Market Weakness in September

On September 16th, the U.S. corporate tax deadline hits, along with non-withheld personal taxes due mid-September. September is typically a seasonally weak month in the markets, and with potential tax-related liquidity drains of up to $500M, we can expect some market weakness this month. It is prudent to think long-term during this period and look for value when you see it.

Meanwhile - we can expect a Fed rate cut in September. I personally hope that we see a 75 bps cut; it's clear that the Fed has been slow to react.

Forward indicators have rates declining up to 200bps in 2025!

I like to use www.truflation.com for a real inflation guide. According to their data, inflation is currently under control - whether this sticks, we will have to see.

Is the Euro the next carry-trade?

I participated in a fascinating webinar with Vincent Veluard, Director of Global Macro Strategy at Stone-X, arguing the Euro could be the next carry trade. I have to agree with Vincent on the long-term weakness of the Euro. I just checked and the current borrowing rate in Euro is about 3%.

[Insight] Currently, gross rental yields in many sun-belt and midwest U.S. states are well over 10% per annum. Borrowing Euro at 3% and earning over 10% in USD is an appealing and prudent "carry trade" I am happy to discuss property options that meet these criteria.

New Listings

Newly-constructed multi-family unit in Los Angeles with a 6.8% cap rate!

4 Units x 5 bedrooms + 5 bathrooms + attached garage (total 20 bedrooms!). Approximate Lot Size: 7,499 sq. ft. Year Built: 2024

The property will be delivered with a 5-year master lease with government-assisted transitional housing organization.

Located just 0.2 miles from the University of Southern California's Health Sciences Campus and offers easy commutes to Downtown Los Angeles, Mid-City, and the Westside.

The 2024 construction ensures no deferred maintenance and strong in-place income. The property will be delivered fully occupied through 2024-2029, providing investors with immediate stabilized cash flow greater than 6.8% cap rate on current income.

Projected Monthly Rent: Y1 $23,000; Y2 $23,690; Y3 $24,400; Y4 $25,132; Y5 $25,886

Contact me directly for pricing and financing options.

Hotel101 Investment Opportunity

Hotel101 offers a unique opportunity to invest in 'hotel' rooms as freehold condo titles, along with a share of the gross room revenues—without any expenses or operational and maintenance responsibilities. Positioned as a 3-star hotel with 5-star amenities, they are located in top destinations like Niseko and Madrid. Plus, owners enjoy free nights each year at the hotels!

Watch our recent webinar with Hotel101 to learn more, or contact us here!

www.gmg.asia

6.8% cap rate in LA! + Hotel 101 + U.S. Mortgage Rates + Turning home equity into cash

how to buy property in USA from Hong Kong

GMG | Investor

[Super rare] Newly-constructed multi-family unit in Los Angeles with a 6.8% cap rate!

4 Units x 5 bedrooms + 5 bathrooms + attached garage (total 20 bedrooms!). Approximate Lot Size: 7,499 sq. ft. Year Built: 2024

The property will be delivered with a 5-year master lease with government-assisted transitional housing organization.

Located just 0.2 miles from the University of Southern California's Health Sciences Campus and offers easy commutes to Downtown Los Angeles, Mid-City, and the Westside.

The 2024 construction ensures no deferred maintenance and strong in-place income. The property will be delivered fully occupied through 2024-2029, providing investors with immediate stabilized cash flow greater than 6.8% cap rate on current income.

Projected Monthly Rent: Y1 $23,000; Y2 $23,690; Y3 $24,400; Y4 $25,132; Y5 $25,886

Contact me directly for detailed pricing and tailored financing options.

Hotel101

Last week, I hosted a webinar with Hotel101, a company offering the opportunity to invest in 'hotel' rooms  in the form of freehold condo titles and a share of the gross room revenues, with NO expenses or operational and maintenance responsibilities.

They are positioned as a 3-star hotel with 5-star amenities in super popular locations such as Niseko and Madrid. Owners also get free nights each year at the hotels! Watch the video to learn more, or contact us here!

U.S. Mortgage Rates

Last week saw the lowest mortgage rates in the past 15 months. The difference in year-on-year mortgage payments (Sep 2023 vs Sep 2024) is about $300 a month or $3,600 a year, all things equal.

The current CHIPS Act is creating many jobs in the U.S., and this gentrification is driving home prices in the Midwest, where chip manufacturers are building their facilities - each responsible for well over 10,000 new jobs. We just met a couple buying homes in a midwest town where Google has their data centres and Intel is building a semiconductor fab - in this popular midwest town, home prices have doubled in the last few years. 

Many of these skilled labourers will need to rent, and this theme is consistent throughout the U.S. It's never been a better time to be a landlord in the U.S. 

Our Foreign National mortgage rates are very low, and you qualify ONLY on rental income, not your personal income; super easy.

Bridging Loans

Using your home equity for cash has been a useful way to generate liquidity when you need it! Our clients use this for tuition, renovations, paying down high-interest debt, or personal investments! We offer these loans in Singapore, the U.S., the U.K., and Australia!

Happy Hunting!

www.gmg.asia

Q&A: Hotel101, a New Investment Opportunity!

Q&A - Bridging Loan Canada

Catherine Chan, Chief Development Officer of Hotel101 Global Pte. Ltd., and Jane Wang, Director of Sales & Strategic Partnerships APAC, along with Donald Klip, Co-founder of Global Mortgage Group, provided valuable insights in this webinar, which highlights the exciting investment opportunities available through Hotel101. The session explored why investing in a hotel unit with Hotel101 is a compelling option and what sets this venture apart in the real estate market. For those who couldn’t attend, the recording is now accessible here.

During the session, Catherine Chan (CC), Jane Wang, and Donald Klip, addressed a variety of inquiries, offering informative responses to help investors make informed decisions about investing in Hotel101.

Remarks have been edited for clarity and brevity.

1. Could you tell me which countries will be next? When will we know?

CC: We have plans to be in 25 countries in the next few years. Specific details or timelines were not disclosed, but if anyone has potential projects or land, they are encouraged to come forward.

2. Can I reserve my own room, or is it always rented out?

CC: Yes, you can reserve your own room, but most owners don’t mind which specific room they get, as they are more focused on being able to use the hotel.

3. Can ownership be under a U.S. LLC, offshore company, or family trust? And can the revenue be sent anywhere globally?

CC: Ownership can be under a U.S. LLC, offshore company, or family trust. However, the speaker advises consulting a lawyer or accountant for tax implications.

4. Must the room be rented out? Is it possible to purchase it for personal use without renting it out at all? 

CC: The room doesn’t have to be rented out, but the cost is nearly double for personal use without renting.

5. How do you decide which units to rent out? Will we be informed? There is a possibility that we might end up with 15% of unoccupied units, right? What happens then?

CC: All units share revenue equally, regardless of how often they are rented. You can choose your unit, but it doesn't affect revenue share.

6. Are there different-sized units available for purchase, or are all units the same size?

CC: All units are standardized at 21 m².

7. Can I select units that are frequently booked, such as those with sea or mountain views?

CC: While you can choose your preferred unit, it doesn't affect revenue share.

8. What is the typical occupancy rate near Hotel101 Madrid?

CC: The occupancy rate is in the high seventies, with peaks up to 95% during events.

9. Does the 30% revenue share apply to room rent revenues only, or does it include hotel revenues like F&B as well?

CC: The revenue share is based only on room rental revenue, not F&B.

10. Can the unit owner sell the unit in the future? Are there any restrictions?

CC: Yes, you can sell the unit with no restrictions, but the company has the right of first refusal.

For more information, get in touch with us today!

www.gmg.asia

Global Property Investor – 10 U.S. Housing Markets Where Buyers Have the Most Leverage Right Now

Global Property Investor

We’ve just secured a new listing today—a perfect opportunity in Los Angeles! This new construction property boasts a cap rate exceeding 6.8% and includes a five-year master lease signed with the city. Located less than a mile from one of the largest hospitals in LA and the USC Health Sciences Campus, it offers substantial potential. If this is of interest to you or someone in your network, don’t miss out—reach out today!

Global Property Investor us

USA

The latest report from Realtor.com identifies Lubbock, Texas, as the top U.S. housing market where buyers hold the most leverage. Despite fluctuating mortgage rates and rising prices, certain metro areas in the U.S. offer favorable conditions for buyers, particularly where inventory has surged, leading to longer time on the market and opportunities for negotiation. Nine out of the top ten markets are in Florida, with Punta Gorda ranking second, where buyers are benefiting from price corrections following the pandemic boom.

Source: 10 U.S. Housing Markets Where Buyers Have the Most Power Right Now

U.K.

The U.K. property market is showing signs of recovery, with the number of homes for sale reaching a seven-year high. This increase in inventory is coupled with rising demand, as a recovering economy boosts consumer confidence. Although prices in London have seen minimal growth, broader market conditions are improving, supported by easing borrowing costs and positive economic indicators. However, sellers are advised to remain cautious with pricing as buyers continue to be price-sensitive.

Source: U.K. Homes for Sale Hit Seven-Year High as Market Gains Momentum

Canada

Prime Minister Justin Trudeau’s government frees up public lands to tackle the housing shortage by identifying 56 federal properties, equivalent to the size of 2,000 hockey rinks, for the development of affordable homes. These sites will be part of the Canada Public Land Bank, with some already available for long-term leasing in major cities like Toronto and Montreal. The initiative aims to build up to 3.9 million homes by 2031, potentially creating 250,000 new residential units. A C$500 million fund has also been established to acquire additional land. This move comes as Trudeau’s government faces declining poll numbers due to rising living costs.

Source: Canada Frees Up Public Lands to Tackle Housing Shortage

Australia

Australian home prices are projected to increase by over 6% nationally in 2024, driven by a persistent housing shortage and strong population growth. Despite the highest interest rates in 13 years, the housing market remains resilient, with prices having recouped losses from 2022. The Reserve Bank of Australia's rate hikes have had little impact on the market, which saw significant growth in cities like Perth, Adelaide, and Brisbane. However, this trend is making it increasingly difficult for first-time buyers, pushing more people towards renting, as home affordability continues to decline.

Source: Australian Home Prices Keep Rising as Supply Remains Tight

Dubai

Dubai’s real estate market is thriving, driven by an influx of wealthy investors from countries like Turkey and Egypt, who are seeking to protect their wealth amidst currency fluctuations. Binghatti Properties, a prominent developer, is planning to add 12,000 homes to the city over the next two years, capitalizing on the strong demand. Despite a slight moderation in price increases, the market continues to attract international buyers, particularly in high-end residential investments.

Source: Dubai Developer Says Rich Turks, Egyptians Helping Fuel Property Boom

Singapore

Singapore has ascended to 13th place in the Global Real Estate Transparency Index, reflecting its highly transparent market, now ranked second in Asia. The city-state’s advancements are attributed to its focus on sustainability and the integration of digital services within the real estate sector. This recognition is likely to bolster investor confidence and attract more international interest in Singapore’s property market.

Source: Singapore Climbs to 13th Place in Global Real Estate Transparency Index

America Mortgages Weekly

2024 Housing Market Showdown: What's Your Next Move?

As the 2024 election approaches, Trump's potential deregulation and tax cuts could boost U.S. real estate, while Harris might focus on affordable housing and stability, possibly slowing market growth. America Mortgages offers tailored loan solutions to help non-resident investors navigate these changes.

For more insights, visit: www.americamortgages.com

www.gmg.asia