Salient to Investors:
Rightmove said London asking prices in London’s 9 most expensive districts increased 3.4 percent in November versus a fall of 2.6 percent nationally. Miles Shipside at Rightmove said the prime central London property market continues to attract wealthy foreign buyers, especially the City of Westminster, where a Mayfair or Belgravia address is a prerequisite for the world’s wealthiest.
Knight Frank said luxury-home prices are 16 percent higher than the previous peak in March 2008. International buyers accounted for 41 percent of London houses bought for at least 1 million pounds in September.
Annalisa Piazza at Newedge said the housing market seems set to improve a tad in 2013 as the BOE’s Funding for Lending program starts to filter into the economy, and rules out a sharp acceleration in activity and prices.
The OECD said Indonesia’s growth will average 6.4 percent from 2013 to 2017, equal to the two decades before the 1997 Asian financial crisis. The Philippines will grow 5.5 percent a year versus 5 percent in the decade through 2012. Malaysia and Thailand will grow 5.1 percent. The OECD said Europe’s debt crisis and a slowdown in advanced economies have had a limited impact on Southeast Asian nations.