New leaders of the real estate market

Knight Frank has conducted an analytical study regarding the fastest growth in property prices.

Consulting company Knight Frank has published a report on changes in housing prices in 55 countries around the world based on the results of the third quarter of 2015 (Global House Price Index). On average, the growth of prices for global real estate over the year was 2.7%.

45 countries (355, or 82%) reported positive price dynamics year-on-year, up from 41 countries (75%) the previous quarter.

In the third quarter of 2015, the leader in this rating was a country that previously occupied only the second position. The leader in annual price growth this time was Turkey (+18.9%). The flow of foreign investment, population growth and slowdown in construction are the reasons for this phenomenon, according to analysts. The second place in the rating was taken by China (Hong Kong), where real estate prices grew by 18.7%, followed by New Zealand (+12.6%) and a number of European countries. As for European countries, the strongest real estate market in the third quarter of 2015 was Sweden, where housing prices grew by 11.1% over the year. The reasons were the historical shortage of houses and apartments in the country and the prevalence of demand over supply. The last places in the Knight Frank rating were taken by France, Italy, Greece and Cyprus, where real estate prices fell by about 3-5%.