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Finance and economics: Global house prices Hot in the city
財經(jīng)：全球房價，樓市過熱
Valuations in globalised cities are rising much faster than in their hinterlands.
全球化城市的估價比其腹地增價快。
GLOBALISATION has created a handful of metropolises that attract people, capital and ideas from all over the world, almost irrespective of how their national economy is doing.
全球化創(chuàng)建了幾個大都市。不管它們所在國家的經(jīng)濟狀況如何，這些大都市都吸引著全世界的人們、資本和理念。
House prices in such places, unsurprisingly, outpace the national average.
這些地方的房價高于本國平均水平也是意料之中。
In our latest round-up of global housing, we find that prices have risen in 20 of the 26 countries we track over the past year, at an (unweighted) average pace of 5.1% after adjusting for inflation.
在最新一期關(guān)于全球住房的報道中，我們發(fā)現(xiàn)在去年追蹤的26個國家當(dāng)中，20個國家的房價在消除通貨膨脹后以5.1%的平均增速（未加權(quán)）增長。
Prices in pre-eminent cities in these countries, however, have risen by 8.3% on average.
然而這些國家一線城市的房價平均增長8.3%。
In a survey conducted last year, fewer than one in nine residents of Amsterdam, Berlin, London, Paris, Stockholm and Zurich thought that it was easy to find reasonably-priced housing.
去年的一項調(diào)查顯示，阿姆斯特丹、柏林、倫敦、巴黎、斯德哥爾摩以及蘇黎世幾個城市超過88.9%的居民覺得很難找到價格合理的房子。
In these cities, house prices have risen at an average pace of 6.5% a year over the past three years (again, unweighted) , compared with a national average rise of just 3.2%.
三年來，與全國平均增長水平3.2%相比，這些城市的房價每年平均增速為6.5%。
The value of homes in four cities on the Pacific—San Francisco, Vancouver, Sydney and Shanghai—has increased by 12% a year over the past three years, twice the average national pace.
太平洋沿岸的4個城市-舊金山、溫哥華、悉尼以及上海的房價每年增長12%，是全國平均增速的兩倍。
The supply of housing is rather inelastic, so in the short term house-price inflation is driven more by demand factors, such as the number of households, disposable income, interest rates and the yield available on other assets.
房屋供給缺乏彈性，所以短期內(nèi)家庭數(shù)量、可支配收入、利率以及營業(yè)外資產(chǎn)收益等需求因素會更多地推動房價高漲。
In recent years all of these have helped to push house prices steadily upwards, especially in big cities.
近年來，這些因素推動房價穩(wěn)步上升，尤其在大城市現(xiàn)象更加明顯。
In the conurbations in question, the number of households is rising fast as hordes of ambitious millennials pour in.
隨著雄心勃勃的千禧一代成群結(jié)隊涌進上述討論的大城市中，城市家庭數(shù)量快速增加。
Two in five of Zurich's residents were born outside Switzerland; 44% are between the ages of 20 and 44.
蘇黎世40%的居民都不是在瑞士出生的；44%居民年齡在20歲到44歲之間。
The boom towns also have tight labour markets and therefore relatively high income growth: the unemployment rate in San Francisco and Stockholm is around a percentage-point lower than the national averages.
這些急速發(fā)展的城市勞動市場較緊缺，因而收入增長較高。舊金山和斯德哥爾摩的失業(yè)率低于全國平均水平一個百分點。
Some are havens for second homes and money seeking safety: foreigners snap up half of London's princeliest dwellings, according to Savills, an estate agent.
一家房地產(chǎn)經(jīng)紀(jì)公司第一太平戴維斯指出，這些城市是人們第二個家以及資金避險的最佳選址。外國人搶購了倫敦一半的豪華住宅。
Finally, they provide a decent return: net yields in Vancouver were 11% in 2015, according to MSCI, a data provider, three percentage points above the average for Canadian housing.
最后他們也會給予可觀的回報：摩根士丹利資本國際公司提供的數(shù)據(jù)顯示，2015年溫哥華的住房凈收益為11%，高于全國住房平均水平3個百分點。
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