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March 5, 2018
Knight Frank released their 2017 4th quarter Global House Price Index, tracking the performance of over 50 mainstream International housing markets around the world. The index is compiled on a quarterly basis using official government statistics or central bank data where available. The index noted residential real estate property prices worldwide went up by an average of 4.6 percent.
The latest house price rankings provide a glimpse as to where the world’s housing markets are in relation to their property market cycles, as the era of economic stimulus comes to a close and rate rises occupy the minds of policymakers in several key western markets.
Here’s a look at the top 10 housing markets that saw prices grow the most in 2017.
1. Iceland - 15.0% growth from previous year
2. Hong Kong - 13.7% growth from previous year
3. Czech Republic - 12.3% growth from previous year
4. Ireland - 12.3% growth from previous year
5. Turkey - 11.2% growth from previous year
6. Serbia - 11.0% growth from previous year
7. Hungary - 10.0% growth from previous year
8. Latvia - 9.5% growth from previous year
9. Bulgaria - 9.0% growth from previous year
10. Canada - 8.9% growth from previous year
The United States ranked 19th on the Global Price Index with 6.3% growth from the previous year.
Award-winning broker, Niki Higgins is an official Douglas Elliman/Knight Frank Residential Global Agent. Contact her today to discuss your luxury real estate market and your buying and selling options.
Source: Knight Frank
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