Global Property Prices Fall

  • 12 years ago
  • Uncategorized

 The latest survey of global
property prices has found that values across the world continued to fall in the
second quarter of 2012.  However,
values of homes increased in almost a third of countries surveyed, suggesting
there remain some hotspots around the world.

Keep reading to find out where
property prices are performing best.

European property prices continuing to struggle

The latest Global Property Guide
survey tracked property values in 38 countries and revealed that prices fell in
24, increased in 13 and one – the USA – returned mixed results.

Property prices performed
particularly poorly in Europe where values fell in 15 out of the 22 countries
surveyed.  Values are decreasing at
a rate of 10 per cent or more year-on-year in Ireland, Spain, Portugal and
Italy.  The survey also claims that
Poland and Cyprus are teetering on the edge of collapse.

Ireland remained the world’s
weakest housing market with prices falling 16.85 per cent in the last
year.  The next eight weakest
housing markets in the world were all in Europe, including Spain (-12.49 per
cent), Greece (-11.92 per cent) and Portugal (-10.95 per cent).

However, some countries did
perform better.  Property prices
rose by 6.26 per cent in Norway, 5.24 per cent in Germany, 4.86 per cent in
Switzerland and 2.57 per cent in Turkey.

In the United States, the FHFA’s
seasonally adjusted purchase-only house price index rose 1.12 per cent year-on-year
in Q2 2012.  Andrew Leventis of
FHFA said: “Although some housing markets are still facing significant
challenges, house prices were quite strong in most areas in the second quarter.

“The strong appreciation may
partially reflect fewer homes sold in distress, but declining mortgage rates
and a modest supply of homes available for sale likely account for most of the
price increase.”

The survey found that the best
performing market in the world was Sao Paulo, Brazil.  Property prices in the South American city rose by 15.56 per
cent in the past year.

Compare listings