A report from Xinhua on Sweden. "For the first time in ten years, several construction companies have been forced to buy newly constructed apartments that failed to find buyers. 'It is a worse crisis now than ten years ago,' said Anders Lago, federal chairman of Swedish housing association HSB."

"In Stockholm, the crisis is expected to continue for several years. Other areas especially impacted are Uppsala, Vasteras and Orebro - places where a lot of construction has occurred in recent years. In response, Sweden's construction companies are pulling the emergency brake on new housing projects."

"Last autumn, HSB began to sell a number of apartments in the Stockholm area. But despite the fact that the price was reduced by as much as 20 percent, sales slowed and many apartments remained unsold. The problem is widespread. According to research done by SVT, the largest construction companies in Sweden have been forced to buy back over 400 apartments in total."

"The majority of price reductions have taken place in Stockholm, where prices have been reduced by over 16 percent. This is because the wrong kind of apartments have been built, said the head of Sweden's largest construction company."

"'If you look at the past few years, very expensive apartments have been built, especially in our big cities,' Anders Danielsson, CEO of Skanska, told SVT. 'There are apartments that most people cannot afford to buy or live in. As a result, there's now an oversupply of the most expensive apartments.'"

From The Mirror on the UK. "A lot of people are no longer 'millionaires' after the bottom fell out of the luxury home market last year. Zoopla spokeswoman Annabel Dixon said: 'It’s hard to ignore the overall decline in million-pound properties in the past 12 months. But it’s clear to see the majority of this decline resides in London.'"

From Channel News Asia on Malaysia. "Discounts, lucky draws and freebies were everywhere at property fairs across Penang over the first weekend of the Chinese New Year period. Yet, property agents interviewed by Channel NewsAsia said sales were slow. This is a far cry from the boom times just a few years ago."

"A mismatch between properties offered in Penang and what people want to buy, coupled with unfavourable economic conditions nationwide is locking the once booming market into a slowdown, which insiders say has lasted about half a decade. The state government says that the high stock pile in the private property market is due to developers not doing their homework, building homes which people cannot afford."

"'Why build one unit worth RM3 million, when you can build 10 worth RM300,000 each, which will get snapped up?' Mr Jagdeep Singh Deo, the state councillor in charge of housing said to Channel NewsAsia."

From News.com.au on Australia. " If you’re looking for proof of Australia’s tumbling house prices, look no further than 97 North Road in Ryde, NSW. When the 'classic' three-bedroom family home, located just 12km from Sydney’s CBD, sold in October 2016, it raked in a healthy $1,510,000."

"But just 22 months later, when it sold in August 2018, it fetched a mere $1,308,000. That’s a staggering $202,000 wiped off the property’s value in less than two years, representing a 13 per cent drop. But that example is far from an isolated one."

"Realestate.com.au chief economist Nerida Conisbee said while the Ryde home’s price drop might seem alarming, it was an accurate reflection of current market trends. 'The median for North Ryde houses has dropped 17 per cent over the past 12 months, so this house is actually doing better than the median given it has dropped by 13 per cent, although over a slightly longer period,' she said. 'It is very much reflective of the Sydney market at the moment.'"