property domains

Top 10 Real Estate Markets in the World

June 28, 2012

We know it’s a tough market here in Australia at the moment, although their are definitely some signs of re-awakening up here in Queensland over the past couple of months.

Also we constantly hear that the whole world is in the same situation – not so according to a report by Knight Frank.  We have here a list of the world’s 10 hottest property markets based on research by global real estate consultancy which ranks countries according to highest average growth in housing prices from the 4th quarter of 2006 to the same period in 2011.

So if you fancy a move overseas with the chance of some healthy commissions – here’s where you should be heading – although not sure I’d be heading to N0.5 as a safe career move!

10. Switzerland

5-year price growth: 27.5 percent

As home to some of the world’s most expensive cities with some of the world’s most coveted real estate, Switzerland has seen property prices boom in the past five years.

9. Malaysia

5-year price growth: 28.5 percent

In an attempt to curb spiraling house prices in Malaysia, the government is considering doubling the entry price for foreigners buying property in the country.

Jt. 7. Norway

5-year price growth: 28.7 percent

Switzerland and Norway are the only European countries to make the list of the world’s hottest housing markets.

Jt. 7. Canada

5-year price growth: 28.7 percent

Canada’s housing market has stayed robust over the past few years, unlike its neighbor the U.S., where the housing market is still to recover from the 2008 global financial crisis.

6. Taiwan

5-year price growth: 30.1 percent

Taiwan is one of the world’s most densely populated countries. Rapid urbanization has led to crowded housing conditions in its biggest metropolitan center — Taipei.

5. Colombia (who’d have thought it?)

5-year price growth: 39.4 percent

Colombia is the only South American country to make the list.

4. Singapore

5-year price growth: 50.5 percent

Singapore is the most expensive real estate market in Southeast Asia. The average price of a prime property in the city-state was $25,600 per square meter or $2,600 per square foot in the fourth quarter of 2011, according to Knight Frank.

3. Israel

5-year price growth: 54.5 percent

Israel is holding on to its spot as the third-hottest housing market in the world since 2009, when house prices jumped more than 21 percent, followed by 16 percent growth in 2010, according to Knight Frank.

2. Hong Kong

5-year price growth: 93.7 percent

Property in Hong Kong is among the world’s most expensive. As a major global financial center, the city overtook London last year as the world’s most expensive office rental market, according to Knight Frank.

And the winner is ………..

1. China (only includes home prices in Beijing and Shanghai.)

5-year price growth: 110.9 percent

China is the world’s hottest property market. Housing prices in major cities Beijing and Shanghai have surged by over 110 percent in the past five years as the world’s second biggest economy experiences rapid growth.

A home in Shanghai’s prime areas cost $19,400 per square meter or $1,800 per square foot in the fourth quarter of 2011. In Beijing, the same home cost an average $17,400 per square meter or $1,600 per square foot, according to Knight Frank.

How long, if ever, do you think it will be before we make the Top 10 list? Answers via your crystal balls please!

You can read the whole report here

Leave a Comment

Previous post:

Next post: