Property Investing News Roundup

London townhouse sold for huge discount; the UK, Hong Kong, Dubai and Calgary  markets have bottomed out; Luxury resort in the Bahamas goes broke; Irish property prices have fallen 52 percent and a British Member of Parliament forgets he paid his mortgage off.

Volatility still rules the property markets – although when the term “volatility,” started to mean “dropping prices,” remains a mystery. A few interesting reports from the property investing world make disturbing reading for some markets – particularly some of the emerging markets.

• A London townhouse was recently sold for the biggest discount on record. Luxury property
• Just a few seconds later, Hamptons international call the bottom of the UK housing market, because 130 buyers from the Middle East came a-looking. mortgage strategy
• Speaking of the bottom of the housing market, the Calgary Herald is tentatively calling the bottom of the Calgary market also. Calgary Herald
• Same story in Hong Kong apparently. Prices will not fall any more they say. Bloomberg
• Dubai has also bottomed out and is showing “early signs of renewed confidence,” according to Landmark advisory. Arabian Business
• This is 20 days into said quarter, and a few days earlier the same source revealed that residential rental prices have fallen off a cliff and the number of transactions in Q1 2009 was 60% down from the previous year. Arabian Business
• Somewhat at odds with these bottom callers, The Four seasons luxury resort Great Exhuma, Bahamas has gone broke and will close. Radio Jamaica
• A British MP becomes the first person in history to forget he had paid off his mortgage. the dailymash
• “Secret” house price data reveals that property prices in Dublin have fallen 52% since 2007. Irish Times

Make of these headlines what you will. Most of the newspapers have been calling the bottom of the market since the downturn began so………