House prices in mainstream residential markets around the world have risen on average by just 1% in the last 12 months and this stagnation is likely continue well into 2013, according to the latest global house price index from Knight Frank.
The index rose by 0.1% in the three months to the end of September although buyer confidence is at an all time low in Europe with Greece knocking Ireland off the bottom spot. In contrast six markets, Brazil, Hong Kong, Turkey, Russia, Columbia and Austria saw double digit price growth. This means that overall, mainstream global property prices stand just 5.2% above the lows hit in the wake of the financial crisis in the second quarter of 2009. [click to continue…]
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