Five property stories making global headlines this week:
London looks for buyers
As UK prime minister Theresa May outlined plans to tackle her country’s housing affordability crisis, the Financial Times reported on London’s growing stock of unsold new-build properties.
China champions stability
“Homes are for living in, not for speculation,” was the refrain from Beijing this week, according to Reuters, as China published plans for further property market reforms aimed at dampening investor appetite. A new government paper championed more public and private rental homes, as well as shared-ownership homes.
Canada heads for crisis
Canada’s housing market is also feeling the strain, said the FT. Concerns are growing over burgeoning household debt, driven by loose lending, low interest rates and foreign investment.
Clampdown in Nigeria
In Africa, the use of high-end properties for tax evasion was the focus of the Nigerian government. Authorities are reviewing the tax records and bank accounts of property owners nationwide, according to This Day.
The afrofuturist aesthetic
Finally, as sci-fi blockbuster Black Panther continued its box office reign, Dezeen revealed the genesis of the film’s “afrofuturist” architecture. The look is a blend of the late starchitect Dame Zaha Hadid’s standout designs and Buckingham Palace, production designer Hannah Beachler told the architecture and design magazine.
Photographs: Getty Images/iStockphoto; Dreamstime; Disney/Marvel Studios