Two-thirds of the world's housing markets recover from the crisis

27.09.2010 17:48
Real Estate Market Analysis | Two-thirds of the world According to preliminary data, Knight Frank, in II quarter at 61% of the world, were part of the study, reported increases in housing prices relative to the same period last year. For comparison, 12 months ago of these countries was only 35%.

By mid-2010 prices on the world's housing markets fell on average by 9% compared to pre-crisis years of 2006-2008. Analysts believe that this decline is not disastrous - taking into account the fact that up to a global recession, house prices in some countries has grown at times, sends Real Estate Channel.

Related article: U.S. housing market recovery will begin in 2011

With regard to projections for 2011 in the developed European countries (Britain, Germany, France, Italy), housing price will rise by 2-3%, waiting for the experts. In Asia, price growth slowed in most countries: Singapore - up to 3% in China - up to 5%. However, in Hong Kong, the cost of residential properties continue to grow at significant rates: in 2011, according to forecasts, it would increase by 12%.

Significantly reduced the expected rate of increase in house prices in Brazil - with 20% in 2010 to 5% in 2011. But in Australia the prices next year will remain unchanged - the same as in the U.S., analysts said Knight Frank. Rapid recovery in prices is not expected in Spain, Ireland and Eastern Europe.

It is generally assumed that the increase in housing values will be constrained by government regulation of the market and rising interest rates.

Recall that in I quarter, according to statistics Knight Frank, the leaders of the annual increase in house prices have become major Chinese cities (68%), Autonomous Region of Hong Kong (30.6%) and Singapore (24.3%).
Content tags: Overseas property
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