A report from the Georgia Straight in Canada. "Buyers of expensive homes appear to be getting good bargains. A Vancouver property sold recently at almost $5 million below its first listing price, according to market tracking by fisherly.com. The single-family home at 5988 Newton Wynd in the University Endowment Lands was originally listed on November 20, 2018 by Royal Pacific Realty Corp. for $11,280,000. The listing was terminated, and on the same day, it was back on the market for $9,980,000."

"After 590 days on the market, the three-bedroom house sold for $6,500,000 on July 2, 2020. Compared to its first price of $11,280,000, the final selling price was $4,780,000 less."

From CTV News in Canada. "Condominium prices in Calgary have taken a 9.7 per cent drop over the past year, according to the Royal LePage House Price Survey. A glut of condos on the market can be blamed on the decrease in prices says Corinne Lyall, broker for Royal LePage Benchmark. This trend is likely to continue as there are over 5,000 condo units currently under construction in Calgary, according to the Canadian Mortgage and Housing Corporation."

From The Mirror on Barbados. "A luxury mansion in the Caribbean is up for sale and its owners have slashed a whopping £11million off the asking price. The sprawling 14,000 square feet Cove Spring House in Barbados boasts a total of 10 bedrooms and 10 bathrooms. Cove Spring House is on the market for £19,857,065. It had previously been on sale for £31.3m and offers beautiful views of the Caribbean seas."

From Echo Live on Ireland. "House prices in Cork city and county have dropped around 7 percent when compared with the same period last year. According to that latest housing market report from Daft.ie, in the second quarter of this year, the average price of a house in the county was €218,685 which is 6.9 percent lower than a year previously. In the city, the average sales price was €265,637, down 7.1 percent. Nationally, sale prices fell by an average of 3.3 percent in the year to June."

From Le News. "Since 2014 there has been a marked slowdown in EU immigration into Switzerland. In addition, a lot of rental homes have been built. The overall supply of rental properties now exceeds demand. Between 2014 and 2019, Swiss home rents declined by 1.6% on average. In the lake Geneva region they fell by an average of 4.2%. In Ticino they fell 6.9%. Even Zurich, where the market is typically tight, average rent fell 1.1%."

From ERR on Estonia. "A 10-25 percent decrease in rent prices can be attributed to apartments being freed due to the pandemic. Sirli Nurm, Tallinn broker at Lahe Kinnisvara, said there are fewer renters in Tallinn, which is affecting the market. Nurm said: 'There is a possibility to haggle with prices currently, because there are fewer renters than apartments available, also because Airbnb apartments have become available on the market. Foreign workers and students are also missing, which lessens the number of renters even further.'"

"She added many apartments for rent are currently empty altogether and prices are 20 percent lower than prior to the pandemic. Nurm said: 'I have a beautiful two-room apartment in Mustamäe in my portfolio that I have previously rented out at €530 a month, utilities not included. After the emergency situation, I priced it at €450 because there was only one renter interested and they made an offer.'"

"Tero Villik, Tartu broker of Lahe Kinnisvara, noted tenants are aware of the market situation, regardless of them being students or families. He noted: 'Incomes have taken a hit and prices have to be decreased, whether it be the rental or the purchase-sale market.'"

The Times of India. "Sharad Mundhe, a real estate broker operating in Camp and Kondhwa, has not closed a single deal in the last three months. 'In the area where I operate, the number of empty apartments has increased by almost 20% over the last few months as many people had to leave after they lost their livelihood. Now, I cannot find any new tenants. Many flat owners have reduced rents to lure prospective tenants but no one has called me in the past three months,' Mundhe said."

"Irshad Shaikh, another broker said a lot has to do with a lot has to do with many societies deciding against renting flats. Landlords are ready to reduce rents by Rs6,000 to Rs7,000 but finding interested parties has become extremely difficult. I have a flat that has been empty for three months,' Shaikh said."

"'I am in contact with at least eight landlords willing to cut rent by almost 45%. I have clients who wanted to buy flats and their home loans had been approved but banks started calling them about salary cuts or job losses and cancelling or readjusting the loans,' another broker said."

The Australian Financial Review. "There is a terrible collision between several economic realities about to occur and it’s going to leave hundreds of people seriously out of pocket and the housing market with a glut of cut-price apartments. Roughly 10 per cent of off-the-plan purchasers have defaulted on their contracts in the past three months, and more are likely to do so in the next few months."

"Martin North of Digital Finance Analytics says off-the-plan values have dropped between 10 and 15 per cent during the past 12 months and more than 3000 off-the-plan settlements fell over between March and June due to problems with lower valuations. Today, if your lender’s valuation of the property represents a 15 per cent drop in value, walking away from a 10 per cent deposit makes some kind of economic sense. If your $800,000 unit is worth $120,000 less, then taking an $80,000 hit seems like a bargain."

"However, that argument is a lot less compelling if the developer sells the completed unit for $650,000 and comes after you for the difference. But what can you do to staunch the haemorrhaging of cash?"

The Sydney Morning Herald in Australia. "One in three apartments in Melbourne's CBD sold for less than they were bought for in the first three months of the year, as fears rise of a bigger hit from the coronavirus pandemic on property markets. In the City of Melbourne, 33.6 per cent of homes sold at a loss at a median decline of $44,500. These 120 properties were all apartments and 68.6 per cent were investor-owned. In Sydney, the council areas with the highest proportion of loss-making owners were Burwood, where 22.4 per cent sold for less than they were bought for."

From Domain News in Australia. "Plummeting rents in many parts of Sydney have led to a frenzy of lease renegotiations by tenants threatening to go elsewhere if their rents aren’t reduced. 'It’s been a bit of a bloodbath,' said Bernadette Rayner of The Property Business Australia, who is advertising property in Millers Point in the city where house rents have fallen by a staggering 20.6 per cent over the last year, on new Domain data."

"Rents all over the city are suffering and, while we’re getting inquiries, it’s at much lower rates. When COVID first hit, so many tenants just dropped their keys in and walked out and now the ones left are trying to negotiate new rents. Nobody’s returned to the city for work, and a lot of corporate tenants and expats have left,' she said."

"Eastern suburbs agent Debbie Donnelley of Phillips Pantzer Donnelley says there’s also a glut of apartments on the market, which is further forcing rents down. 'As well, we’re seeing a lot of changeover happening with people moving from two-bed apartments to three, and to houses as the rents are now less,' she said."

"But there are pockets all over Sydney suffering even bigger blows. In the inner west, house rents in Pyrmont fell 11.8 per cent and Beaconsfield dropped 11.2 per cent. On the northern beaches house rents in North Balgowlah have dropped by 15.5 per cent and even ritzy harbourfront Point Piper is seeing an 18.1 per cent drop in unit rents."