Global housing markets are facing new headwinds as interest rates continue their upward trajectory. The increase, implemented by central banks to combat inflation, is beginning to cool down previously hot property markets.

Analysts note a visible decrease in housing sales volume across several countries. Potential buyers are becoming more cautious, facing higher mortgage costs and affordability challenges.

Some regions are already experiencing price corrections, with property values declining from their peak levels. However, the extent and pace of these corrections vary significantly depending on local market conditions.

Economists are closely monitoring the situation, anticipating a period of adjustment as the housing sector responds to the evolving economic landscape. The long-term effects of these rising interest rates on housing remain to be seen.