Home World & People Global House Prices Are Bouncing Back

Global House Prices Are Bouncing Back

Global house prices were generally on the way up last year, led by the US and Asia-Pacific, according to a survey of official house price statistics.

The Global Property Guide study collates house price information from 42 major housing markets and shows prices rose in 27 during 2013.

That still leaves 15 countries in the red with falling prices, although the rate of decrease has slowed in six.

House prices rose but at a slower rate in Sao Paulo, Brazil; Vienna, Austria, Hong Kong and Turkey.

Each of these places has positive house price growth which is decelerating.

House prices in all 20 major US cities increased, with Las Vegas showing the biggest inflation-adjusted year-on-year increase of 23.7%. Realtors are reporting continuing rising demand for homes.

Dubai is top performer

New Zealand saw prices up by 8.02% during the year, after rising 8.54% in 2012. Neighbouring Australia’s property market put in the best performance in four years, with house prices in the eight major cities up by 6.47%.

Around the Asia-Pacific rim, house prices in Taiwan surged by 14.46%, almost twice the increase of 7.72% in the previous year.

In Indonesia, homes in the 14 largest cities rose in value by 5.82% during 2013, well up on the increase of 2.27% in 2012.

Several Asian markets saw house prices nudge up, including Tokyo, with a 3.91% increase, Thailand (3.87%), and Hong Kong (3.3%).

House prices in the Middle East performed well. After a two year house price bonanza, Dubai saw house prices rocket by 21.52%, after increasing 21.64% in 2012, and 6.3% in 2011.

Europe is a game of two halves for property investors and home buyers.

In some places, prices are forging ahead, like Tallinn, Estonia, where the average price jumped 16.55% during 2013 – much higher than the 1.59% rise in the previous year.

Romania in free fall

In Vienna, Austria, home prices continued to go up for the sixth year in a row – this time by 7.51%.

Other well-performing European markets included Ireland, with prices up 6.18%, Turkey (5.73%), UK (4.88%), Riga, Latvia (4.64%), and Iceland (4.33%).

Some European markets also saw little house price movement. These countries included Sweden, with a 3.98% increase, Germany (3.69%), Switzerland (3.24%), Vilnius, Lithuania (2.41%), Kiev, Ukraine (1.63%), and Bulgaria (0.38%).

The rest of Europe is a different story. Romania was the world’s worst housing market during the year, with prices dropping by 10.43%, following more drops of 5.96% in 2012, 6.99% in 2011, 22.08% in 2010, and 24.22% in 2009.

In Greece, house prices were down 7.26%, better than the 13.77% drop in 2012, but still a poor performance.

Other depressed European markets included Zagreb, Croatia (-6.27%); Russia (-5.86%); Spain (-4.38%); Netherlands (-4.16%); Warsaw, Poland (-3.55%); and the Slovak Republic (-3.01%).

Hasan Rezazadeh
Hasan Rezazadeh
Rezazadeh born on 1990 in Tehran. He graduated from the state university of Amir Kabir. He used to study criminology in university and has helped several courts and lawyers. He has also worked for local start ups and his previous articles were published in national publications. Currently he works as a lawyer assistant and Rezazadeh contributes to Pars Herald. City: Tehran Phone Number: +989107193380 Email: Hasan {at} ParsHerald.com Name in Persian: حسن رضازاده

Stay Connected


Must Read

How Safe Is A Visit To The Caribbean?

Expats, tourists and business people visiting the Caribbean may well worry about their safety after a seemingly endless series of warnings and alerts over...

How Safe Is A Visit To The Caribbean?

Expats, tourists and business people visiting the Caribbean may well worry about their safety after a seemingly endless series of warnings and alerts over...

Periodic Table Is Elementary For Scientists

Scientists are in their element as they celebrate the 150thanniversary of the periodic table. The table has tortured physics and chemistry students trying to learn...

Huachuma – A Guide to the Plant Medicine San Pedro

Huachuma also known traditionally as The San Pedro Cactus, can be found throughout the Andes Mountains as they stretch across the South American countries...

Related News

What’s The Hardest Language For Expats To Learn?

Speaking a foreign language is often a high hurdle for many expats to leap – but what are the world’s most difficult languages to...

QE2 Set To Steam From China To Berth As A Floating Hotel

Retired cruise liner The QE2 is ready to steam from Dubai to an unknown destination in China, where the once graceful liner will become...

Typhoon Haiyan Devastates the Philippines

Many have heard the word typhoon before, but not many understand the intensity of the destruction it can cause. A typhoon is an extremely aggressive...

Phone Lane in China Solves Nothing

Smartphone enthusiasts can now walk along the streets in China without bothering to look up from their devices. The Chinese city of Chongqing have...

Global Economy Has Taken Some Blows But Looks In Good Shape

Despite some election shocks on both sides of the Atlantic, the global economy looks in a reasonable shape for the summer, according to a...


Please enter your comment!
Please enter your name here