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India among countries that saw biggest jump in house prices

Last updated on: December 20, 2013 13:40 IST

India among countries that saw biggest jump in house prices

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Global housing markets are gaining traction as average prices in the third quarter of 2013 increase by 1.5 per cent, according to Knight Frank Global House Price Index.

More than 69 per cent of the countries tracked by the index recorded positive price growth in the year to September, two years earlier this figure was closer to 55 per cent, it said.

Let's take a look at some of the markets that saw biggest increase in residential property prices.

Source: Knight Frank Global House Price Index

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Image: Labourers stand on a winch of a crane at a construction site on the outskirts of New Delhi.
Photographs: Parth Sanyal/Reuters

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Dubai, United Arab Emirates

Change in prices in 12-month period: 28.5 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 11.8 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 4.5 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 1

Dubai, which is one of the biggest trade and tourism hubs in the world, is witnessing an impressive rebound in the housing market after the post-2008 crash.

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Image: A view of Sheikh Zayed Road in Dubai, United Arab Emirates.
Photographs: Mosab Omar/Reuters

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China

Change in prices in 12-month period: 21.6 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 9.7 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 5.5 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 2

China, which is the fastest growing economy in the world, is trying to cool its property market, but, as the index shows, its efforts are not having much impact.

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Image: Two men walk on a square inside a commercial complex in Beijing, China.
Photographs: Kim Kyung-Hoon/Reuters
Tags: China , India

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Hong Kong

Change in prices in 12-month period: 16.1 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 3.4 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 1.8 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 3

Hong Kong, which has a per capita income of $52,687, saw 16 per cent increase in house prices.

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Image: Architect Gary Chang rests in a hammock inside his apartment in Hong Kong.
Photographs: Bobby Yip/Reuters

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Taiwan

Change in prices in 12-month period: 15.4 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 11.9 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 7.4 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 4

Taiwan, which has a per capita income of $39,580, saw more than 15 per cent increase in house prices.

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Image: A man stands on a balcony of a building in Taipei, Taiwan.
Photographs: Nicky Loh/Reuters
Tags: Taiwan , India

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Indonesia

Change in prices in 12-month period: 13.5 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 4.5 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 2.3 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 5

Indonesia, which has a per capita income of $5,182, saw more than 13 per cent increase in house prices.

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Image: A worker walks among a residential complex under construction in Jakarta, Indonesia.
Photographs: Supri/Reuters

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Turkey

Change in prices in 12-month period: 12.5 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 7.7 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 3.8 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 6

Turkey, which has a per capita income of $18,348, saw more than 12 per cent increase in house prices.

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Image: A view of residential towers in Istanbul, Turkey.
Photographs: Murad Sezer/Reuters
Tags: Turkey , India

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Brazil

Change in prices in 12-month period: 11.9 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 6.1 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 3.0 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 7

Brazil, which has a per capita income of $12,118, saw nearly 12 per cent increase in house prices.

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Image: Tourists take pictures with the Rodrigo de Freitas Lagoon in the background in Rio de Janeiro, Brazil.
Photographs: Ricardo Moraes/Reuters
Tags: Brazil , India

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Colombia

Change in prices in 12-month period: 11.8 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 5.9 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 2.7 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 8

Colombia, which has a per capita income of $10,791, saw 11.8 per cent increase in house prices.

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Image: Dancers of Cumbia perform during a parade at the Barranquilla's carnival in Colombia.
Photographs: Jose Miguel Gomez/Reuters

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Germany

Change in prices in 12-month period: 11.2 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 9.8 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 4.9 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 9

Germany, which has a per capita income of $39,468, saw 11.2 per cent increase in house prices.

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Image: Tourists Caro and Anna from Munich lie in a bed mounted to a rental bike as they ride along Friedrichstrasse in central Berlin, Germany.
Photographs: Jose Miguel Gomez/Reuters

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United States

Change in prices in 12-month period: 11.2 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 10.5 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 3.2 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 10

United States, which has a per capita income of $52,839, saw 11.2 per cent increase in house prices.

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Image: Visitors to a bar ride a mechanical bull on Sixth Street in Austin, Texas, United States.
Photographs: Adrees Latif/Reuters

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Ukraine

Change in prices in 12-month period: 10.9 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 4.0 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 2.3 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 11

Ukraine, which has a per capita income of $7,422, saw 10.9 per cent increase in house prices.

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Image: A street vendor, dressed in national costume, talks on a mobile phone as she sells candy in downtown Lviv in western Ukraine.
Photographs: Gleb Garanich/Reuters

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Malaysia

Change in prices in 12-month period: 10.2 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 5.1 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 1.3 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 12

Malaysia, which has a per capita income of $17,675, saw 10.2 per cent increase in house prices.

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Image: A view of downtown Kuala Lumpur, capital of Malaysia.
Photographs: Bazuki Muhammad/Reuters

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South Africa

Change in prices in 12-month period: 8.6 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 3.1 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 1.4 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 13

South Africa, which has a per capita income of $11,525, saw 8.6 per cent increase in house prices.

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Image: Shoppers push trolleys at a shopping centre in Lenasia, Johannesburg, South Africa.
Photographs: Siphiwe Sibeko/Reuters

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Estonia

Change in prices in 12-month period: 8.4 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 4.5 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: -0.6 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 14

Estonia, which has a per capita income of $22,351, saw 8.4 per cent increase in house prices.

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Image: A tourist poses with restaurant staff in Tallinn, Estonia.
Photographs: Ints Kalnins/Reuters

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Australia

Change in prices in 12-month period: 7.6 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 4.6 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 1.9 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 15

Australia, which has a per capita income of $43,042, saw 7.6 per cent increase in house prices.

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Image: Shoppers leave a store in Sydney's central business district, Australia.
Photographs: Daniel Munoz/Reuters

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Denmark

Change in prices in 12-month period: 7.4 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 4.8 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 3.3 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 16

Denmark, which has a per capita income of $37,657, saw 7.4 per cent increase in house prices.

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Image: A view of finance institute Sydbank in Copenhagen, Denmark.
Photographs: Fabian Bimmer/Reuters

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Israel

Change in prices in 12-month period: 7.4 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 2.2 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 2.4 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 17

Israel, which has a per capita income of $34,875, saw 7.4 per cent increase in house prices.

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Image: Workers sit at their desks at the headquarters of electric car venture Better Place in Tel Aviv, Israel.
Photographs: Nir Elias/Reuters
Tags: Israel , India

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Iceland

Change in prices in 12-month period: 6.0 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 5.2 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 1.8 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 18

Iceland, which has a per capita income of $39,223, saw 6.0 per cent increase in house prices.

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Image: Children skate on the ice of the frozen Tjoernin lake in central Reykjavik, Iceland.
Photographs: Stoyan Nenov/Reuters

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India

Change in prices in 12-month period: 5.9 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: -0.1 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: -1.7 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 19

India, which has a per capita income of $3,991, saw 5.9 per cent increase in house prices.

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Image: Tourists carry earthen pitchers on their heads as they participate in Matka Race competition at Ladera village near Bikaner in Rajasthan.
Photographs: Reuters
Tags: India

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Russia

Change in prices in 12-month period: 5.2 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 2.4 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 1.3 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 20

Russia, which has a per capita income of $18,083, saw 5.2 per cent increase in house prices.

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Image: A street vendor stands by her kiosk as she sells souvenirs in St Petersburg, Russia.
Photographs: Alexander Demianchuk/Reuters
Tags: Russia , India

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Austria

Change in prices in 12-month period: 5.0 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 3.5 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 1.6 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 21

Austria, which has a per capita income of $42,408, saw 5.0 per cent increase in house prices.

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Image: People enjoy the evening at Donaukanal in the centre of Vienna, Austria.
Photographs: Herwig Prammer/Reuters

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Luxembourg

Change in prices in 12-month period: 4.9 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 4.5 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 1.2 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 22

Luxembourg, which has a per capita income of $79,785, saw 4.9 per cent increase in house prices.

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Image: A view of Luxembourg City, Luxembourg.
Photographs: Francois Lenoir/Reuters

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Singapore

Change in prices in 12-month period: 4.6 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 2.0 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 0.6 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 23

Singapore, which has a per capita income of $61,046, saw 4.6 per cent increase in house prices.

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Image: A model presents a creation by Indian designer Devki Karer for label DEVKI's at a fashion show in Singapore.
Photographs: Tim Chong/Reuters

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Mexico

Change in prices in 12-month period: 4.4 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 3.2 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 0.9 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 24

Mexico, which has a per capita income of $15,608, saw 4.4 per cent increase in house prices.

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Image: Ice skaters on a rink in Mexico City's Zocalo Square, Mexico.
Photographs: Edgard Garrido/Reuters
Tags: Mexico , India

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United Kingdom

Change in prices in 12-month period: 4.3 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 4.8 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 2.2 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 25

United Kingdom, which has a per capita income of $37,299, saw 4.3 per cent increase in house prices.

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Image: Pedestrians walk past a branch of fashion chain Nicole Farhi in central London, United Kingdom.
Photographs: Luke MacGregor/Reuters

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Ireland

Change in prices in 12-month period: 3.6 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 6.4 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 4.0 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 26

Ireland, which has a per capita income of $43,592, saw 3.6 per cent increase in house prices.

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Image: A woman has her make up applied in the Brown Thomas department store on Grafton Street in central Dublin, Ireland.
Photographs: Cathal McNaughton/Reuters

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Switzerland

Change in prices in 12-month period: 3.2 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 1.2 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 0.8 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 27

Switzerland, which has a per capita income of $45,999, saw 3.2 per cent increase in house prices.

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Image: An employee of Starbucks carries a tray with cups of coffee on a train in Zurich, Switzerland.
Photographs: Arnd Wiegmann/Reuters

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Sweden

Change in prices in 12-month period: 3.2 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 3.2 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: 1.6 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 28

Sweden, which has a per capita income of $40,870, saw 3.2 per cent increase in house prices.

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Image: A shopper holds a clock at H&M store in Stockholm, Sweden.
Photographs: Jessica Gow/Scanpix/Reuters
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Norway

Change in prices in 12-month period: 2.9 per cent in Q3 2012-Q3 2013

Change in prices in 6-month period: 0.8 per cent in Q1 2013-Q3 2013

Change in prices in 3-month period: -1.8 per cent in Q2 2013-Q3 2013

Overall rank in change in residential property prices: 29

Norway, which has a per capita income of $55,398, saw 2.9 per cent increase in house prices.


Image: Karl Johans Gate, the main shopping street, in Oslo, Norway.
Photographs: Suzanne Plunkett/Reuters
Tags: Norway , India

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