International Property Journal - News and information on global property markets

Despite signs of stabilizations, many European markets could be facing a new drop in prices in the next year, according to a new study.

With the notable exception of Ireland, price drops have slowed in most European countries, including France, Italy, Spain and The Netherlands, according to Standard & Poor’s, the ratings agency. Prices are even rising in the U.K., the agency notes.

But economies are still struggling and many markets remain overvalued, the report concludes.

For the second year in a row, Monaco ranks as the world’s most expensive residential real estate market, with prices averaging from $4,300 to $5,900 a square foot.

In fact, it was no competition. London was a distant second, with prices topping out at $4,400 a square foot, according to the just released 2010 Knight Frank Wealth Report. Paris was third, offering a relatively reasonable range of $2,400 to $3,300 a square foot.

Headlines from the world of property:

U.K.: Commercial Loans Dry Up

Billions in troubled loans has lenders wary. (Financial Times)

Telstra to Float Chinese Real Estate Portal

The Australian company plans a public offering for SouFun. (The Australian)

U.S. Retirees Revive Mexcian Market

Latin American portal sees uptick in inquiries. (OPP, free registration required)