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India ranks third highest in global realty price rise

Last updated on: June 7, 2012 09:08 IST

India ranks third highest in global realty price rise

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The Knight Frank Global House Price Index rose by 0.9 per cent in the year to March 2012. Knight Frank is a global residential and commercial property consultancy.

The Global House Price Index measures the performance of residential real estate markets around the world. According to the firm's latest report, these 30 countries saw the greatest increase in housing prices in the one-year period that ended in the first quarter of 2012.

Brazil

Ranking: 1

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 23.5

Brazil has recorded the strongest annual growth in the price beating other nations by a much a higher margin. Brazil's economic growth has been excellent and the country's housing market is moving up accordingly.

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Photographs: Reuters
Tags: Brazil , Frank , India

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Estonia

Ranking: 2

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 13.9

In Tallinn -- capital of Estonia -- the average price of housing was up 10.4 per cent last year, according to the Statistical Office of Estonia.

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Photographs: Ints Kalnins/Reuters

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India

Ranking: 3

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 12.0

India witnessed the third highest rise globally in housing prices in January-March quarter of 2012 over the year-ago period, according to the report. Housing prices in India, however, declined by 0.9 per cent when compared with the previous quarter.

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Photographs: Rupak De Chowdhuri/Reuters
Tags: India

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Austria

Ranking: 4

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 11

The residential real estate price index for Vienna rose by 9.52 per cent in 2011, according to the figures released by National Bank of Austria (OeNB).

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Photographs: Herwig Prammer/Reuters

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Germany

Ranking: 5

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 9.8

Despite the economic slowdown, realy prices in Germay have  remain unaffected. The overall house price index for apartments rose by 4.3 per cent during the year to August 2011; its highest increase since 2006, according to global property guide.com.

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Photographs: Tobias Schwarz/Reuters
Tags: , Germany , Germay , India

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Colombia

Ranking: 6

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 9.6

In 2010, house prices in Colombia rose strongly. It is assumed that this was a result of a peaceful transition to a new president and the overall positive economic prospects.

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Photographs: Courtesy, Wikimedia Commons
Tags: , Colombia , India

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Turkey

Ranking: 7

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 8.7

Property sale in Turkey was affected by the overall financial crisis. In this period, many foreign investors sold their property and holiday homes.

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Photographs: Fatih Saribas/Reuters
Tags: Turkey , India

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Russia

Ranking: 8

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 8.2

Russia saw a rise in the resale value of apartment. During the year to end-Q2 2011 prices rose 3.79 per cent , according to the Federal State Statistics Service.

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Photographs: Alexander Natruskin/Reuters

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Iceland

Ranking: 9

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 7.3

As quoted in the gloabl property guide, Iceland's house price index rose 6.28 per cent over the year to October 2011, according to Statistics Iceland.

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Photographs: Courtesy, Wikimedia Commons

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Canada

Ranking: 10

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 6.8

Backed by strong demand and low interest rates, house prices in Canada continue to rise. According to the fugures released by Teranet-National Bank of Canada, the national house price index rose by 4.52 per cent in 2011.

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Photographs: Courtesy, Wikimedia Commons

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Malaysia

Ranking: 11

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 6.6

The national house price index rose 6.5 per cent year-on-year in 2011, according to the Valuation and Property Services Department (JPPH).

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Photographs: Reuters

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Switzerland

Ranking: 12

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 6.3

Switzerland is considered as a safe haven by foreigner investors. An increase in the number of immigrants has led to higher demand for houses, according to global property guide.

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Photographs: Arnd Wiegmann/Reuters

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Ranking: 13

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 6.3

Norway is one of the richest countries in the world when it comes to income per capita. "Smart investors realise that at some point the prices will get back to 2005 levels and Norwegians are looking to manage properties for five or six years and then make a profit, Heldre, the founder of Superior Florida Realty  was quoted in the Palm Beach Post.

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Photographs: Courtesy, Wikimedia Commons.

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Malta

Ranking: 14

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 6.2

The overall price index in Malta dropped by 2.61 per cent in Q1 2011, according to the Central Bank of Malta.

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Photographs: Courtesy, Wikimedia Commons

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Luxembourg

Ranking: 15

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 5.6

House prices in Luxembourg have been rising since 2009. After almost two years of drop in house prices, there is a sing of rise demand. This is due to the lower interest rates, according to global property guide.

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Photographs: Courtesy, Wikipedia Commons

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Hong Kong

Ranking: 16

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 5.4

In the first quarter of 2011, house prices surged by 7.14 per cent (5.04 per cent in real terms), according to the figures released by the government's Ratings and Revaluations Department.

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Photographs: Courtesy, Wikipedia Commons

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Ranking: 17

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 5.0

House prices rose by 6.86 per cent (2.60 per cent in real terms) during 2011, according to the Korean Statistical Information Service.

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Photographs: Courtesy, Wikimedia Commons

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New Zealand

Ranking: 18

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 4.2

House prices in New Zealand rose by 0.82 per cent over the year to Q1 2012. Sales activity also has been strong for the last few months, with volumes at the highest levels since 2007, according to global property guide.

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Photographs: Reuters/Pool

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France

Ranking: 19

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 3.9

Property prices in France were expected to drop by 5 to 6 per cent in 2012. It was further expected that there will be a decline of 8 per cent in sales.

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Photographs: Courtesy, Wikimedia Commons
Tags: France , India

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Belgium

Ranking: 20

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 3.7

In the second quarter of 2011, prices of regular houses in Belgium, according to Statistics Belgium. From 2000 to 2008, there was a boom in house prices, which was driven by low interest rates and increased competition between banks; accompanied by strong economic and wage growth.

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Photographs: Thierry Dricot/Reuters

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Indonesia

Ranking: 21

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 3.6

High prices of construction materials, workers' wages and permittance are some of the reasons for the price rise of new construction in Indonesia.

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Photographs: Courtesy, Wikimedia Commons

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Singapore

Ranking: 22

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 2.7

Property developers in Singapore say that they are pessimistic about the outlook for the real estate market, as some analysts forecast a 5 to 10 per cent drop in property prices.

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Photographs: Courtesy, Wikipedia Commons

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Morocco

Ranking: 23

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 1.1

The Moroccan housing market was somewhat weakened by local and global crises in 2007 and 2008. Now, the government is trying to lure Moroccans living abroad to buy properties in the country, by offering 25-year 100 per cent loans up to $100,000, according to global property guide.

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Photographs: Courtesy, Wikimedia Commons
Tags: , Morocco , India

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Finland

Ranking: 24

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 0.9

In May 2011, permits for residential block of flats and terraced houses rose by 45 per cent from, while detached house permits went up by nearly 9 per cent.

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Photographs: Reuters
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United Kingdom

Ranking: 25

Price Rise (12-month percentage change from Q1 2011-Q1 2012): 0.2

UK house prices rose 1.11 per cent during 2011, according to Nationwide. However in inflation-adjusted terms, UK house prices were actually dropped by 3.4 per cent, according to global property guide.

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Lithuania

Ranking: 26

Price Rise (12-month percentage change from Q1 2011-Q1 2012): -0.2

After recording a double-digit rise in house price from 2003 to 2007, housing rates started to decline in 2008- mainly de to the global crisis.

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Photographs: Ints Kalnins/Reuters
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Slovenia

Ranking: 27

Price Rise (12-month percentage change from Q1 2011-Q1 2012): -0.9

There is a drop in prices as the economy is going through difficult times, and lending for house purchases is also rapidly slowing. New flat prices and sales are falling sharply.

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Photographs: Srdjan Zivulovic/Reuters
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Ukraine

Ranking: 28

Price Rise (12-month percentage change from Q1 2011-Q1 2012): -0.9

The average price of apartments was up 28.9 per cent from last year to US$2,970 per square metre. Even then, it was down 30 per cent from the housing boom's price peak in 2008, according to Blagovest.

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Photographs: Mikhail Chernichkin/Reuters
Tags: , Blagovest , Ukraine , India

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Dubai

Ranking: 29

Price Rise (12-month percentage change from Q1 2011-Q1 2012): -1.1

The Dubai residential property price index -- all residential, published by Reidin.com, rose by 7.5 per cent in January 2012 from a year earlier.

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Photographs: Ahmed Jadallah/Reuters
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Latvia

Ranking: 30

Price Rise (12-month percentage change from Q1 2011-Q1 2012): -1.5

The average house price fell by 3.4 per cent y-o-y to end-July 2011, according to Citadele. However, inflation has been declining. The government continues to influence prices through state-owned enterprises.


Photographs: Ints Kalnins/Reuters

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