A report from the Irish Independent. "A glut of new houses for sale has led to builders cutting back on the construction of homes. Goodbody economist Dermot O’Leary said there is now a rising inventory of unsold stock forming for house builders. The report shows that there has also been a big fall-off in sales of homes priced at more than €500,000."

"Calculations by another economist estimate has found that Dublin house prices are now nine times average earnings. KBC Bank’s Austin Hughes has also calculated that in the rest of the country prices are just over six times average earnings."

From Ahval on Turkey. "According to the Turkish Statistical Institute on, house sales in Turkey fell by nearly half in June compared to the same period last year, the sharpest drop since the start of 2019. Citing several sources in the industry, Reuters said that one key reason for the lack of progress in restructuring the construction sector’s bad debt was sharp disagreement over the value of properties, which left banks and companies unwilling to buy or sell assets."

From The National on Dubai. "The developer of a luxury housing community in Dubai said it is working to tackle 'lots of issues' with the development, as homeowners complained of an influx of snakes, open sewers and swarms of mosquitoes. Jaswinder Singh purchased a six-bedroom villa for Dh6.3m in 2015, but has yet to move his young family into the property. He said it was only partially ready."

"'I have three daughters and have an expensive villa that we can’t live in,' he said. 'We were sold this dream of a lifestyle destination.'"

From Forbes India. "Q. Do you see a correction coming up in the real estate market? Mahesh Misra, the chief executive officer of India Mortgage Guarantee Corporation: Internationally, when asset prices fall, the slowdown becomes prolonged. The speculator has vanished from the market, and right now, the industry is going slow. So a lot of today’s demand is coming from the end-user. However, a price correction has happened in certain markets."

"One of the biggest positives in the lending ecosystem today is that nobody wants to be reckless anymore. The market will not give anyone 100 percent comfort, especially at a time of a certain slowdown and asset price correction."

The Epoch Times on China. "China’s onshore real estate market has fallen drastically. Moreover, mainland real estate companies which relied on easy financing will soon face debt repayment for short term borrowings made in 2018 and 2019. As business prospects are increasingly gloomy and cash is harder to come by, various real estate firms have had no choice but to issue bonds overseas and use new debts to pay off old ones."

"As the wave of real estate debt defaults continues, experts worry that real estate will soon become a 'grey rhinoceros,' a highly probable yet widely ignored event. A bond trader in Beijing said with the tightening of  real estate financing, a sharp decline in the cash flow growth of real estate enterprises, and the peak period of debt repayment yet to come, some housing companies are already at risk of default."

The Sydney Morning Herald in Australia. "Luxury Zetland terrace apartments expected to fetch up to $1.2 million each are allegedly 'unsaleable' because of the evacuation of the lofts immediately above them. Court documents obtained by the Herald have revealed concerns over combustible cladding on the terrace apartments, which remain occupied even though they are in the same site as the abandoned lofts."

"According to Wolseley Grove, prospective buyers were 'no longer willing' to purchase the terrace apartments or would only do so at 'very substantially reduced prices.'"

"Anthony and Diane Yap picked one of the units as the perfect place to start their family, moving in in February. The couple say they were unaware of the defects in or the evacuation of the lofts when they signed their two-year lease. 'I guess we are lucky we didn’t look into buying this place,' Dr Yap said."