HONG KONG, Oct. 23 /PRNewswire-Asia/ -- The latest update on the state of the Hong Kong residential mortgage market is due on Wednesday 28th. The previous survey results from the Hong Kong Monetary Authority (HKMA) for August showed a distinct pullback in mortgage market activity for the first time since February 2009. This follows on from a sharp rebound in mortgage applications since the turn of the year. Indeed, in the commercial property market, next week's release of the RICS global commercial property survey on Thursday 29th should confirm whether the improved economic news flow is filtering into commercial property activity.

(Logo: http://www.prnasia.com/sa/2009/08/17/200908171721.jpg )

London leading the UK lettings market recovery

The latest RICS UK commercial property survey released earlier this week shows that a greater number of surveyors in the UK are now reporting rising enquiries and lettings activity for the first time in over 2 years, with London leading the commercial property recovery.

US housing market recovery will be slow and gradual

A further update on the US housing market is due next week with the release of the Case-Shiller (CS) house price index on Tuesday, 27th followed by new home sales data on Wednesday, 28th. Confidence in the housing market has increased over the last couple of months but disappointing data released over the last week has been a timely reminder that the sector is likely to see a fitful and very gradual recovery.

Euro area mortgage lending to remain flat

Euro area M3 lending data for September is due from the ECB on Tuesday 27th. Annual growth in M3 lending is currently running at 2.5%. This compares to the peak of 12.5% in October 2007 and the long run average of 7.4% since January 1981. One of the key components in the M3 release is lending for home purchase.

Please download from the following for the complete report content: http://www.creativegp.com/RICS/RICSGlobalRealEstateWeekly-Oct23.pdf

For further details of RICS, please visit our new website: http://www.ricsasia.org

    Media enquiry, please contact:

     Ms Belinda Chan / Ms Ava Lau
     Tel:   +852-2372-0090
     Fax:   +852-2372-0490
     Email: belinda@creativegp.com / ava@creativegp.com

SOURCE Royal Institution of Chartered Surveyors

Back to top

RELATED LINKS
http://www.prnasia.com/sa/2009/08/17/200908171721.jpg
http://www.ricsasia.org
http://www.creativegp.com/RICS/RICSGlobalRealEstateWeekly-Oct23.pdf