A report from the Toronto Star in Canada. "The number of newer rental apartments in the GTA that are empty and ready for new tenants is at its highest level since a leading real-estate consulting firm started keeping track in 2015. According to Urbanation’s survey of purpose-built apartments completed since 2005, the average vacancy rate rose from a low of 0.3 per cent in the second quarter of last year to 1.5 per cent in the second quarter of this year."

"The Toronto firm added that the 'availability rate” — which includes vacant units as well as occupied units where the tenant has given notice to leave — jumped from 1.4 per cent to 2.3 per cent over the same time period. The vacancy and availability calculations don’t include buildings that started moving in tenants in the past 12 months, the firm notes."

"'This is the result of rental development planning that goes back a few years now. These units are starting to reach completion. What we’re seeing is that over the last 12 months we’ve reached a 25-year high for new rental (apartment building) completions,' said Shaun Hildebrand, president of Urbanation."

From Ahval News on Turkey. "Turkish construction companies will likely take two years to sell their stock of unsold homes after a slump in the housing market, according to Feyzullah Yetgin, head of a top industry body. 'Delayed property price increases will be made when the market enlivens and interest rates have fallen,' Yetgin said. 'Therefore, it’s an advantageous market for buyers right now.'"

From Al-Monitor on Iran. "Iran’s housing sector is in a dire state, with prices skyrocketing and sales plummeting across the country, especially in metropolises. While the housing capital gains tax is expected to be levied in the foreseeable future, implementation of the empty homes tax seems farther off. It requires a national system to keep track of the estimated 2.6 million empty homes and a further 2.1 million second homes across the country, some of which are luxury homes unaffordable for most."

"According to housing expert Mehdi Soltan Mohammadi, even if the two tax initiatives are successfully implemented, they cannot be expected to affect more change than partially reducing speculative activities."

From Mansion Global on Dubai. "Dubai house prices plummeted to their lowest levels in over a decade last quarter, according to new data from U.A.E.-based property firm Cavendish Maxwell. The average single-family home price sunk 24% over the past year to AED1.82 million (US$495,500), a level not seen in over 11 years despite a global recession and regional economic meltdowns over the past decade."

"The average house, referred to locally as a villa, is now trading for less than it did during the darkest days of the global financial crisis and subsequent credit crunch, which hit Dubai the hardest in 2010-11. It’s also lower than at any point since oil prices crashed in 2015, according Property Monitor, which is powered by Cavendish Maxwell. In June alone, the average home price—including both single-family houses and apartments—fell over 15% compared to a year ago."

The South China Morning Post. "Property sales are back in full swing. Six developers are selling 817 units, including Hong Kong’s smallest flat, in the biggest weekend sale since protests against the controversial extradition bill started in early June. On Sunday, Jiayuan International and Stan Group will offer 344 units at their T-Plus project in Tuen Mun, with sizes ranging from 128 square feet to 387 sq ft. Of these, 12 flats measuring 128 sq ft – smaller than a car parking space – are targeted at first-time buyers."

"The new price is up to 37.6% lower on a per square foot basis than a 131 sq ft studio at T-Plus, which the developer put on the market for HK$2.85 million last November. The project is likely to sell easily, said Richard Lee, chief executive of Hong Kong Property (Services). 'The price cut this time is quite large, so some buyers will be attracted,' said Lee."

From Domain News in Australia. "Sydney tenants are haggling over rents or leaving for newer properties as the city’s building boom continues to reduce rents with suburbs recording declines of up to 25 per cent in the past year, new figures show. 'The construction boom that has gone on for the past four to five years has definitely pushed down rents and has helped tenants,' said Domain economist Trent Wiltshire."

"Ray White Lane Cove senior property manager Tanya Marr said she only had three applications after opening 30 properties for inspections. '[Tenants] are moving out of old properties and moving into brand new places for cheaper,' Ms Marr said. 'Why would you live in a place that’s 10 years old when you can move into a brand new property for the same price or less than what you’re paying? You do opens and no one turns up, there’s so many available.'"

"Patrick Cowie Real Estate managing director Patrick Cowie said in a competitive market like Curl Curl, rentals needed to be price sensitive with comparable houses and units. He said many landlords in the region who were highly leveraged would be better off leasing their properties for a discount than leaving them vacant. 'If your stock is similar to other stock, asking for what you leased it for in the past is not going to work again,' he said."

From Total Croatia News. "Official statistics show a strong season in Split, but apartment owners complain of poor bookings. I went in search of the official statistics, and my jaw hit the floor. In 2010, there were just 4,454 private accommodation units in the Split area. The total number of beds was 7,490 (including hostels and hotels etc)."

"In 2019, there were 24,002 private accommodation units in the Split area. The total number of the beds in the city was 32,576 (including hostels and hotels etc). I just hope not too many owners of the 24,002 units took out expensive loans to be paid off by bumper rentals. Oversupply? I think so."