World Cities Saw Modest Growth in Home Values During Second Quarter

Global cities experienced only modest growth in home values from April through June, as much of the world faced some form of economic lockdown, according to new data.

House prices in 150 urban centers rose by an average of 3.4% in the second quarter of 2020 compared to the same period last year, according to Knight Frank’s Global Residential Cities Index, published on Thursday. While it marked a very slight downtick from the 3.6% annual growth recorded in the first three months of the year, the massive economic disruption caused by the pandemic appears not to have had an immediate impact on city home prices.

Indeed, there were still pockets of extreme growth even in the face of uncertainty, particularly in Turkey, where astronomical price growth in three cities led the entire index. The Turkish port Izmir, the country’s third most populous city, saw home prices shoot up 28.1% in

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Multifamily: Modest to million-dollar homes in a shared setting | Business

Heron rendering

A rendering of the new multifamily development undergoing construction on Daniel Island. These condos are the “Heron” which are waterfront homes. Photo/East West Partners.

As we move to a “new normal,” as many like to refer to our current COVID world, and once we are post-pandemic, multifamily living has a new focus. In both the leasing and buying of these dwellings, a shift is occurring.

Pre-pandemic, most multifamily renters and buyers wanted to live in the city. From young professionals to seniors, the appeal of living where one could work, walk, dine and have easy access to cultural venues and events was appealing. That appears to be changing as more people are leaving large cities to migrate to smaller ones or to the suburbs.

Charleston and its burbs are where many of those buyers are looking. Its less dense downtown population and nearby neighborhoods offer much to buyers who want

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