A report from the Vancouver Sun in Canada. "Ian Watt, a Vancouver realtor who specializes in Yaletown condos, said people need to look beyond the Real Estate Board of Greater Vancouver’s headline numbers. 'This is the first time since May 2014 that we have seen over 1,000 active (condo) listings in downtown Vancouver,' said Watt. Listings not only increased 12 per cent last month to 1,085, but they have gone up by 54 per cent since August 2019. 'Obviously, (more sellers) are feeling the effects of COVID-19 and deciding it’s time to unload their debt.'"

The Globe and Mail in Canada. "Rental housing markets across Canada are seeing weaker demand this fall as some postsecondary students pivot to online learning and stay in their hometowns, resulting in a spate of empty bedrooms and mounting losses for landlords. Demand from students 'has completely dried up,' says Sara Hamilton, a real estate broker who frequently leases condos. Before the pandemic, most of her leasing activity in downtown Toronto came from students. 'Now, there’s no interest from students at all.'"

"In a normal year, Raymond Goulet's rooming house in Sudbury would be full, with most of the tenants being students at nearby Collège Boréal. Now, five of nine rooms are sitting empty, which amounts to thousands less in income than he expected. 'I’m keeping my fingers crossed' on renting out all rooms, he says. 'Because if I’m not, I’m losing upwards of $600 a room [monthly]. That’s going to get very costly for me as a landlord.'"

The Irish Independent. "The price of high-end homes is being slashed by property developer Glenveagh as it shifts its focus to starter homes in the suburbs. Most are in its flagship Marina Village in Greystones and include penthouses and four-bed detached homes costing €1m or more. The priciest are on one of the nation's most exclusive addresses, Shrewsbury Road in Dublin 4. Some analysts say the move reflects the growing risk of a downturn in home prices, with Ireland officially in recession."

"Some market watchers see Glenveagh's move as a tell-tale sign that a wider downward correction on slow-to-move properties is under way. 'It was clear last year that the housing market already was in trouble, particularly at the higher end due to lack of affordability,' said Orla Hegarty, assistant professor of architecture at UCD. 'The concerns were there before Covid, and this current market has accelerated that. We are heading into a very ­difficult time.'"

"She said developers like Glenveagh drop prices only when they must. Their move, she said, reflects wider weakness in the market. 'All around the south side of Dublin there's loads of high-end stuff that's not selling.'"

From Gulf News on Dubai. "Are landlords in Dubai telling you to go for a two-year rent lock-in contract on that new home? Even if the rent on offer seems absolutely reasonable, tenants are better off negotiating on a year-by-year basis. Because right now, residential rents are headed in only one direction – and that’s down. Based on market feedback, new contracts since June have on average 8-15 per cent declines, depending on locations and tenants’ willingness to look at a wider range of communities or high-rises. And there’s no guarantee rents are going into stability mode any time soon."

"'Only two things matter for a landlord these days – that their property remains occupied and they can clear the cheques received from tenants,' said a senior official at a property leasing firm. 'If a property remains unoccupied for even two to three months, it could alter the rental demand and values. No one can ignore the number of new properties being completed and pushed into the rental market.'"

The Daily Telegraph in Australia. "Dwindling migration is set to drag Australian population growth to a 103-year low with potentially disastrous results for the housing market. Falls in rents could also force down prices as there would be fewer investors willing to purchase units they may struggle to tenant. This would increase 'settlement risk' for buyers of units sold off-the-plan – a situation where the value of a property drops below the purchase price in the time it takes to get built."

"'Overseas migrants are generally centred around the CBD … or transport hubs such as Parramatta in Sydney or Clayton in Melbourne,' said CoreLogic head of research Tim Lawless. 'The impact of the sharp fall in overseas arrivals can already be seen in surging inner city rental advertisements, with rental listings more than doubling across some key inner city unit precincts.'"

"With rents reducing the ability of landlords to service their mortgages, there could be more distressed listings within inner Sydney and Melbourne. 'A higher proportion of (new) units may settle with a valuation lower than the contract price,' Mr Lawless said. 'Many of the aforementioned inner city precincts are toward the end of a surge in new apartment supply. Many of these yet-to-be completed projects will settle while rental vacancies remain high and rents are falling, which may put downward pressure on property values.'"

"ABS building activity data showed there were more than 50,000 units under construction across NSW at the end of March, and just over 45,000 across Victoria."

The South China Morning Post. "Overall transaction volume, including homes, commercial and industrial properties and car parking spaces, sank 34.2 per cent month on month in August. With sellers frantically trying to get out of the market last month, they have been incurring huge losses on their transactions. A house measuring 3,408 sq ft at the Marinella in Wong Chuk Hang went for HK$100 million, resulting in a loss of HK$38 million, according to agents. If the taxes and commission are taken into account, the loss may add up to HK$70 million, they said."

"Actor and singer Dicky Cheung Wai-kin sold a 1,466 sq ft flat at Europa Garden in Sheung Shui for HK$10.35 million, making a loss of around HK$1.45 million, agents said, who added that it went for less than the prevailing market price in the area. The owner of a flat in Providence Peak, Tai Po, who had mortgaged it over 16 times since February 2017, made a loss of HK$1.21 million on the sale."

From Mingtandi. "China Evergrande, the country’s biggest home seller, said it would slash 30 percent off the price of every real estate project nationwide for a month, in an unprecedented step that could kick off a spate of competitive discounts as cash-starved developers boost sales to raise cash in a slowing market. The Shenzhen-based developer, founded and headed by China’s third-richest businessman Xu Jiayin, kicked off its month-long sales campaign on September 7."

The Los Angeles Times on Mexico. "Monica Cardenas Leal was living the Mexican dream. As her once-sleepy hometown of Querétaro transformed into an international hub of the aerospace industry, Cardenas grew with it. Her $500-a-month salary lifted her family into Mexico’s middle class. She and her truck-driver husband took beach vacations and bought a house in the suburbs. The coronavirus threatens to undo all of that. The pandemic has driven Mexico into its deepest economic downturn since the Great Depression, with 12 million jobs already lost, 150,000 small businesses closed and the economy expected to contract by as much as 12.8% this year."

"Cardenas, 36, was laid off in June as a global decline in air travel slashed demand for new planes. Two of her five siblings have also lost work. She now spends her days desperately door-knocking in the industrial parks that blanket formerly cactus-covered hills. Even companies that pay a third of what she once earned won’t call her back. 'It’s overwhelming,' she said. 'There are so many people like me looking.'"

"Home sales in the state have fallen by 40% this year, and about half of the 80 new housing developments that were under construction have been put on hold."

"Lily Trueba, who has 20 years of experience in the banking sector in Querétaro, was laid off three months ago. A single mother, she was forced to put her 15-year-old daughter, who used to attend a private school, into a public one — part of a trend that could shut down 40% of private schools this year, according to an association that represents them."

"Trueba, 44, has a friend who runs a private school and had to lay off most of his staff. Another friend, who owns a small chain of laundromats, had to close one of his locations. Other acquaintances are selling personal items to survive. She expects many to leave the city that once seemed brimming with opportunity. 'The economy always flowed favorably,' she said. 'Now everyone is battling.'"