A report from the Daily Mail on the UK. "As Rod Stewart might have sung, the price cut is the deepest. But it seems to have had the desired effect. The singer has sold his Essex mansion. But Sir Rod was forced to slash the original £7.5million asking price by almost half to shift the property, finally selling for £4.1million – a £3.4million loss. He put six-bedroom Wood House on the market in 2016 but struggled to sell it despite reducing the price three times."

From Arabian Business. "Landlords in Dubai are being more lenient and reducing rent by up to 50 percent in areas like Business Bay, according to the CEO of Addmind Hospitality Group."

"'Landlords and companies are being much more lenient than before in that angle. They know everybody is struggling. So they’re being a bit more lenient and flexible on that. If you go now and rent, of course rents have dropped. Now, we have so many good deals everywhere. It’s totally different than four years ago,' he said."

From The News in Pakistan. "There is no doubt that there is acute shortage of affordable housing for 65 percent urban population, but on the other hand, there is a glut (call it over supply) of housing for the middle and higher income groups, because of flawed policies, lax implementation and collusion of all powerful groups, a strange situation has emerged."

"About 35-40% urban population in Pakistan lives in katchiabadis, but on the other hand, over a million plots in public/private housing schemes, and cooperative housing societies are lying vacant. In addition, in Karachi alone over 50,000 flats remain unoccupied, for one reason or the other, and the main reason for shortage of affordable housing is speculative market where land is not treated as a social good, but has become a tradeable commodity."

From Pandaily on China. "For average working professionals in Beijing, Shanghai, or Hong Kong, buying a place for themselves would be a mission impossible. Yet in the other parts of the country, housing markets seem to be on the total opposite: With low demand and shrinking population, these houses are now on the list for 50% off discount, and some of them even start to worth less than $3,000 for a whole department."

"Hegang, a city located in the Northeastern Heilongjiang province of the country, became one of the most prominent examples of the declining housing markets in China’s less developed regions. A 46 square meter apartment is only listed at 16,000 RMB, a value that is less than $3,000. Imagine that you can buy an apartment in urban areas with merely one-month salary, here you have it, in China’s shrinking smaller cities."

The South China Morning Post on Hong Kong. "Prices of new flats in Lohas Park in Tseung Kwan O have fallen to near 2017 levels despite soaring land costs in the area, contradicting a strong recovery in the world’s most expensive property market. Alex Leung, senior director at CHFT Advisory and Appraisal, said the decoupling of land costs and selling prices will be more profound in areas with abundant supply."

"'[The relatively low price] is due to direct competition between various developers,' said Leung."

From Devi Discourse on Singapore. "Developers Astoria and Lerida, which have the same owner, are now insolvent, with accounting firm KPMG acting as the receiver. This has left buyers who bought units before construction started high and dry and hoping the receivers are able to raise sufficient funds to complete the project without having to make them 'top-up' what they have already committed to paying in order to complete the building of their houses."

The Australian Financial Review. "The housing downturn has claimed another scalp, with Chinese developer Sunglow shelving plans to build apartments in the growth suburb of Macquarie Park in Sydney's north amid weak sales. The group, backed by its Chinese parent, Shanghai Sunglow Investment Group, has been axing staff in recent months and is understood to be behind in some creditor payments."

"Its development plans came to a standstill amid the housing downturn last year. The apartment market has struggled, particularly in Sydney as house prices continue to slide. Sydney prices have now fallen about 14.5 per cent since peaking in 2017."

"Off-the-plan apartment sales in Sydney and Melbourne have slowed, if not halted completely. Fears of defaults have descended on the industry ahead of upcoming settlements at big projects such as Lendlease's Darling Square."

"Sunglow's apartment departure is not unexpected after an analysis by The Australian Financial Review showed nearly half of new apartments approved for construction in Melbourne and about a third of apartments approved in Sydney at the height of the housing boom in 2014 and 2015 – potentially worth close to $10 billion – have not been completed or have stalled."