Property Prices Jumped 4.6% Worldwide in 2017
Iceland and Hong Kong recorded the largest price gains
Global property prices rose 4.6% in 2017, buoyed by price growth in 85% of the 59 countries tracked by Knight Frank in their latest Global House Price Index released Friday.
The moderate rate of growth—lower than the 5.3% property price increase that was logged in 2016—was reflected in the rankings as the gap between the strongest- and weakest-performing housing market narrowed.
Despite their small size, Iceland and Hong Kong recorded the largest price growth of the countries analyzed by the London-based property consultants, logging gains of 15% and 14% respectively.
Europe was well represented at the top of the rankings, as the Czech Republic, Hungary, Ireland, Serbia, Bulgaria and Latvia all joined Iceland in the top 10, registering gains of over 9%.HT to and headline from: The Real Deal.
Meanwhile, New Zealand’s plans to stop foreign buyers from purchasing existing homes has caused the country’s price growth to fall well below that of neighboring Australia....MORE