The London-based real estate consultancy Knight Frank has released the latest reading of its Global House Price Index, showing that residential prices are now 4% higher than their previous peak in 2008 and 12.7% higher than their 2009 low.
“The index’s strong performance has been assisted not just by headline grabbing price rises in Dubai, China and Hong Kong, but also in a number of emerging markets.Taiwan, Indonesia, Turkey and Brazil recorded price growth of 15.4%, 13.5%, 12.5% and 11.9% respectively in the year to September,” according to the report. One country showing surprising strength is Ireland, which recorded three-month prices increases of 4%, when less than two years ago the country was still seeing price declines of 5% or more per quarter.
So what are the other hottest housing markets around? Here are the Top Ten:
| Rank | Country | 12-month Change in Real Estate Prices |
1 | Dubai, UAE | 28.50% |
2 | China | 21.60% |
3 | Hong Kong | 16.10% |
4 | Taiwan | 15.40% |
5 | Indonesia | 13.50% |
6 | Turkey | 12.50% |
7 | Brazil | 11.90% |
8 | Colombia | 11.80% |
9 | Germany | 11.20% |
10 | United States | 11.20% |
Read more: The 10 Hottest Real Estate Markets Around the World | TIME.com http://business.time.com/2013/12/16/the-10-hottest-real-estate-markets-around-the-world/#ixzz2nhl5FJFe
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