Melbourne and Sydney are not alone in experiencing booming property prices, many other real estate markets across the globe are in a similar situation according to The Global Property Guide’s latest worldwide survey.
Let’s take a look at what is happening in property around the world with a peek at the highlights from The Global Property Guide’s worldwide survey of international housing markets.
The Global Property Guide reports on 39 of the world’s property markets and has recently announced annual growth in 25 of the 39 real estate markets surveyed.
Other interesting results have also been released.
1. Hong Kong
Hong Kong leads the way. Valuations jumped by 16.4% annually and by 3.8% for the quarter (adjusted for inflation).
3. Estonia (Tallinn)
4. Philippines (Manila)
New Zealand is experiencing 5.2% yearly real estate price growth, though after a massive drop in June, experts predict the country’s housing market may start to underperform over the next few months as the boom is being driven almost by Auckland’s exponential growth alone.
Japan (Tokyo) boasted strong yearly growth.
South Korea & Thailand also reported property price increases for the year.
China (Beijing), Taiwan & Vietnam also reported falling residential house prices.
House prices in Indonesia’s 14 biggest cities plummeted.
Singapore house prices dropped by 3.4% annually and by 0.7% for the quarter. Research conducted by Knight Frank, an independent property advisory firm supports these findings, concluding Singapore’s property market has been weakening for 18 months.
The countries experiencing the most solid, annual real estate price growth on-par with Estonia are: