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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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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India ranks third highest in global realty price rise
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.