A report from Toronto Storeys in Canada. "Toronto’s real estate market took another hit in April, with the average rent for both 1 and 2-bedroom apartments down on a year-over-year basis, according to new data from the Toronto Regional Real Estate Board. This coincides with rental transactions for both apartment types also dropping more than 50%. Shaun Hildebrand, head of development-tracking market research firm Urbanation, says condo rents in Toronto could be even lower post-COVID-19."

"'As rental demand declines as job losses mount, incomes are reduced, and immigration shrinks, the slowing in the GTA rental market that appeared in the last half of March will progress for at least the next few quarters given the current economic outlook,' said Hildebrand. 'The impact on rents will be something to watch, which will also be influenced by the timing of the record number of units that were expected to complete this year.'"

From Mortgage Introducer in the UK. "Halifax’s April House Price Index reported a month-by-month fall of 0.6%, but Lucy Pendleton, property expert at James Pendleton has said this should not be a cause for concern. She added that buyers looking to capitalise on uncertainty have been the exception, rather than the rule so far: 'There have been a small number of buyers seeking price reductions but these have been minor skirmishes prompted by opportunists rather than any reaction to the economic realities being faced by vendors.'"

From The Guardian. "Airbnb has revolutionised travel and since it was founded in 2008 hundreds of thousands of property owners have used the holiday accommodation platform to make ends meet, make a living and, in some cases, make a killing. But while hosts, as they are known, are wringing their hands over the collapse of the travel industry and their loss of income, many city authorities are rubbing theirs at the prospect of thousands of holiday lets returning to the traditional rental market."

"Ian Brossat, the Paris deputy mayor in charge of housing, said Airbnb listings had 'collapsed' in Paris and hosts had registered just 40 stays with authorities in the first three weeks of April, compared to an average of 1,210 a month last year. Airbnb refutes the figures, preferring to focus on supply rather than demand."

"Meanwhile, a report by the holiday rental analysts Transparent shows a drop of about 98% in reservations in Spain since the lockdown began on 14 March. No one expects a quick recovery and in Spain the tourism industry has effectively written off 2020 and is looking ahead to next year. In order to recoup their losses, owners are now turning to the conventional rental market, with hundreds, possibly thousands, of apartments being offered in Spanish cities for short lets of up to a year."

The Uganda Observer. "A significant price drop means that oil assets that were being sold at crazy rates a year ago are now available at far less than they are worth. As businesses go under, there will be many on sale for a song for many reasons, including failure to meet their loan obligations. There are going to be many foreclosures as people cannot pay their mortgages. They will want to cash in. Bank loans are going to be hard to get. I believe it is difficult already to get a bank loan today as every projection shows an economy that is not going to recover for some time."

From Bloomberg. "Singapore expats are often envied for their generous pay packets but facing the prospect of salary cuts as the coronavirus batters businesses, some are tightening their belts and asking for lower rent. Lester Chen is another real estate agent who is dealing with rent reduction requests from expats. One, living in an apartment in Sentosa Cove, a residential area on an island off Singapore’s south coast, managed to get his rent lowered by 20 percent."

"Some landlords hold out because the types of apartments they own are in short supply or because that rental income goes toward paying their own mortgage. For those who do acquiesce, they’re often 'willing to close one eye because at least they get some income instead of ending up empty handed,' Chen said."

The South China Morning Post. "China Evergrande’s weekend sale of its Emerald Bay flats in Tuen Mun has flopped for the third time in as many months, as Hong Kong’s homebuyers shunned its meagre discounts in anticipation of further price declines. The developer managed to find buyers for 41 flats, or 12 per cent of the 335 units on offer at 8:30pm, according to sales agents."

"The contrast could not have been more stark in October, when Evergrande’s first real estate project in Hong Kong got off with a flying start, selling all 167 apartments on offer in a day. Hong Kong’s home prices may decline by between 10 per cent and 20 per cent this year amid the slumping economy and expected glut of projects, according to property consultants. Greater job insecurity will decrease desire among prospective homebuyers, they said."

The Sydney Morning Herald in Australia. "The coronavirus crisis is hitting the short-term rental accommodation market in Sydney, exposing the weak foundations of some businesses that have sub-let residential properties as Airbnb accommodation. Founder of Weekenda Management Pete Smith, who owns five short-term rental accommodation properties and manages 130 properties for other people, said he knew several Sydney businesses that had 'gone under.' He said one business had been unable to pay 60 leases after subletting them for short-term rental accommodation."

"'At the moment it's a train wreck,' Mr Smith said. 'We're down to 12 per cent of where we were last year, but I'm quite optimistic about that because I expected a total wipeout.'"

"'In the case of those [primary leaseholders] who are subletting in metropolitan markets, I expect all of these are under tremendous pressure and have very quickly reverted to general rental as they still have rents to pay,' said Australian Short Term Rental Accommodation Association chairman Rob Jeffress."

"Real Estate Institute NSW President Leanne Pilkington said the pressure to sell short-term rental accommodation is not evident yet. 'Because the banks have put a hold on mortgages, even though it will cost people more in the long run, it means there isn't that immediate pressure to sell right now,' Ms Pilkington said. '[But] without the higher return of Airbnb rates, it may mean some people will not be able to afford to have those properties.'"

From ABC News in Australia. "They're both three bedders with one bathroom, separated by just 100 metres in a sought-after Sydney suburb. They were sold just one month apart, but when it comes to price, real estate agents blame Australia's coronavirus shutdown for a $200,000 gap. Renters seeking new digs are also potential winners due to a 'pandemic rate,' according to Jim Triantos from Elders Real Estate. Mr Triantos said there was a surge of availabilities, particularly around universities due to a decreased number of international students."

"Since the lockdown, he's off-loaded over a dozen apartments with year-long leases at a 25 per cent discount. 'Some of these apartments which were going for $800 were being [leased] for $600 a week,' he said."

The Australian Financial Review. "More than half (51.5 per cent) of Tasmanian households were in mortgage stress - the highest proportion in the country - triggered by high property prices relative to income and the closure of the tourist sector in the state. Digital Finance Analytics defines households, whether mortgage-holders or renters, as being in housing stress when their income is less than their overall expenses."

"South Australia has the second-highest number of households in mortgage stress at 41.7 per cent, followed by Western Australia (40.7 per cent). Two in five (40.2 per cent) households in Victoria were struggling to pay their mortgage, while a third of households in NSW and Queensland were in distress."

"Digital Finance Analytics principal Martin North, who estimates default risk based on assumptions - including the historical performance of loans in the area, overlaid with the local economy - said this was the highest level on record in the past decade. 'Running our projections forward and assuming the COVID-19 unlocking proceeds as expected, we still expect to see more than 41 per cent of households in stress by August,' he said."

"Households living in the city fringes, often in new high-density estates, were also under mortgage pressure. Mr North said a growing number of more affluent households were also struggling, with 3 per cent at risk of defaulting on their mortgage. 'We are seeing young and wealthy households that were highly leveraged, with multiple mortgages and investment loans, and have been hit by dividend cuts and sharemarket falls, are now at risk of not meeting their mortgage repayments,' he said."