Nov 9 2009
Several pieces of key economic data pertinent to the Chinese property market are released next week. Chinese retail sales, industrial production and producer price inflation data are all released on Wednesday 11th. Also on the same day, the latest update on fixed asset investment is due which provides a year to date figure on growth in urban investment spending.
Korean rates to remain on hold for a little longer
The Bank of Korea meets again on Thursday 12th against a backdrop of continued speculation about the possibility that it will soon begin to unwind the monetary stimulus that has helped support the economy over the past year. On the real estate front, data published by the country's largest lender Kookmin Bank show that house prices have now risen for seven consecutive months with a 0.4% gain being recorded in October.
Canadian housing market recovery continues
A comprehensive update on the Canadian property market is due next week with the release of data on housing starts for October on Monday 9th followed by the latest house price index on Thursday 12th. Canadian housing starts fell by 4% in September, following a 13% jump in August. But over the last three months, housing starts were 16% higher than the three months before that.
German construction sector still under pressure
The German construction PMI Survey for October was released on Thursday 5th. The headline index came in at 43.4. This is the lowest reading in four months and indicates that overall output in the sector contracted (50 is neutral from a growth perspective).
Please download from the following for the complete report content: http://www.creativegp.com/RICS/RICSGlobalRealEstateWeekly-Nov6.pdf
Source: http://www.ricsasia.org/