Where real estate got up most of all during a year…
International consultancy published results of a traditional research Global House Price Index, where experts control price behavior in the area of real estate in 32 countries of the world.? Data are published according to situation during a year - since the beginning of fourth quarter 2005 through third quarter 2006.
Although authors call their product ???the only real global research???, we still can claim them for restriction of countries they include in their research. Some countries are also represented only by capitals, whereas in most cases situation throughout whole country is estimated. There??™re also serious doubts concerning some countries (for example, China and Republic of South Africa).
As for leaders of the market, there??™re countries and cities, where real estate got up most of all during a year, and we can see only one non-European name in top ten - Republic of South Africa.
Baltics gained best success in price advance, where growth of industrial construction is observed and soon transition to euro is expected. Riga (Latvia) is on the first place, as real estate prices increased 39,2% during a year here. A year ago growth rates were even higher ??“ 65,9%. Vilnius is on the fourth place, Estonia closes top ten.? Bulgaria is on the second place (with its 19% price advance). In this country property appreciation rates slowed down, a year ago they amounted 32,1%. This country??™s success is explained by many Europeans??™ wish to buy a house near the sea in connection with its soon inclusion in EU.
Price advance rates also reduced in Denmark, although slightly, amounting 17,8% for last year. Besides already mentioned states, Ireland, Norway, Belgium and Greece are also included in top ten.? Second ten includes Canada, Spain, Sweden, France, New Zealand, Great Britain, Australia, Singapore, Indonesia and Finland with positive indices of price advance in interval approximately 6-10%.
During period of report, real estate prices reduced in five countries, closing rating. These are Hungary (-1,0%), Portugal (-1,2%), Japan (-2,2%), Hong Kong (-2,6%) and Germany (-3%).? On average, real estate price advance in 32 countries, included in rating, amounts 8,4% during a year. It is 2,3% less than last years indices during same period.