In the wake of the coronavirus pandemic, a global housing market phenomenon has emerged

Cambodia Compass report, 5th June - Property prices are soaring over the world as a result of ultra-low loan rates and stimulus measures implemented to combat the coronavirus outbreak.

Prices in the United States have risen 13.2 percent in the year to the end of March. Phoenix, the state capital of Arizona, is leading the way, with prices up 20%. San Diego prices have increased by 19.1% on the Pacific coast.

Prices in Canada's north have risen by 23.1 percent in the year to the end of April. Prices are soaring across the board, from Quebec (20.1%) to Vancouver (22.1%).

The areas of the United Kingdom are booming. Prices in Yorkshire (up 14%) and the north-east (up 13.7%) are skyrocketing in comparison to London, where they have risen by a more modest 3.7 percent.

Price increases in New Zealand would make a real estate agent blush. Values have increased by more than 30% in a number of provincial districts, including Gisborne, Napier, and Palmerston, in the last year. Values have risen by 23.7 percent in Wellington, the nation's capital, and 15.6 percent in Auckland, the country's largest metropolis.

The recent surge in global property prices has reignited the debate over housing affordability and the long-term consequences for future generations.

Source: Cambodia Compass comprehensive arrangement

Editor: Malinda         Chief Editor: Sunnie         General in Chief/Executive Producer: Nicole

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