The London-based real estate consultancy Knight Frank has released the latest reading of its Global House Price Index, showing that residential prices are now 4% higher than their previous peak in 2008 and 12.7% higher than their 2009 low.
“The index’s strong performance has been assisted not just by headline grabbing price rises in Dubai, China and Hong Kong, but also in a number of emerging markets.Taiwan, Indonesia, Turkey and Brazil recorded price growth of 15.4%, 13.5%, 12.5% and 11.9% respectively in the year to September,” according to the report. One country showing surprising strength is Ireland, which recorded three-month prices increases of 4%, when less than two years ago the country was still seeing price declines of 5% or more per quarter.
So what are the other hottest housing markets around? Here are the Top Ten:
| Rank | Country | 12-month Change in Real Estate Prices |
|
1 |
Dubai, UAE |
28.50% |
|
2 |
China |
21.60% |
|
3 |
Hong Kong |
16.10% |
|
4 |
Taiwan |
15.40% |
|
5 |
Indonesia |
13.50% |
|
6 |
Turkey |
12.50% |
|
7 |
Brazil |
11.90% |
|
8 |
Colombia |
11.80% |
|
9 |
Germany |
11.20% |
|
10 |
United States |
11.20% |