Key Highlights

  • Global real estate more than holding their own despite global pandemic recession
  • China is only housing market with some concern

Sean Darby, global head of equity strategy at Jeffries, a diversified financial services company specializing in investment banking and capital markets, asset and wealth management and direct investing, told CNBC’s Street Signs Asia that global real estate prices have mostly held their own.

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Darby said, “It’s been perhaps one of the most fortunate events for policymakers in that we’ve not really seen any significant declines in global property prices. Importantly, it has really allowed the domestic banking system to be relatively unimpaired by asset deflation.”

Demand for real estate properties in the United States, the United Kingdom and China has been and continues to be, according to Darby, “very strong.” Australia is the only outlier where property prices have see a “modest decline.”

China’s economic recovery from the COVID-19 pandemic has been strong…so much so that some analysts are voicing hesitations about its property sector being on the cusp of overheating. Some analysts are also speculating that a few large developers may be having liquidity concerns.

Darby doused such thinking. “I think the underlying property sales in China have been extraordinarily robust in the first six months after COVID-19 struck. There’s a large number of companies in China that is not debt-encumbered at all and indeed, many of the state-owed or state-related companies in China don’t have much debt at all.”

 

Thanks to CNBC.

Also read: Podcast: Exclusive Michael Reese Interview | EXp Realty, Lead Generation, Marketing, Zillow and More | Tim and Julie Harris, 7 North American Cities Most At Risk of Crash, Biggest Jump in UK Home Prices Since 2016