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ASIAN HOUSING PRICES TO COOL DOWN IN LONGER-TERM: IMF.
NEW DELHI, June 1 Asia Pulse - Ever-rising real estate prices in Asian region are a short-term trend and will cool down in longer-term as the industry would be able to meet the demand supply mis-match in the next few years, a top IMF official said.
"In the long-run, housing supply can expand to meet the rise in demand. Over shorter periods, however, demand can spurt ahead of supply, sending prices soaring," International Monetary Fund (IMF) Senior Resident Representative Joshua Felman said here at a Federation of Indian Chambers of Commerce and Industry (FICCI) seminar.
Citing the example of the United States where housing prices have increased by just 0.4 per cent per annum in real terms for the last hundred years, Felman said that same is true for most of the nations around the world.
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Source: HighBeam Research, ASIAN HOUSING PRICES TO COOL DOWN IN LONGER-TERM: IMF.