Knight Frank Named Countries With the Most Noticeable Increase in House Prices

What happened? The international consulting company Knight Frank has published the Global House Price Index for the third quarter of 2021. The study shows how housing prices have changed in the mass market segment in 56 countries around the world.

The main figures. In the third quarter, the growth of housing prices on an annualized basis was shown by 54 countries out of the analyzed 56. The decline was noted only in Malaysia and Morocco. Moreover, the share of countries in which price increases turned out to be double-digit was 48%, whereas at the beginning of the pandemic this figure was 13%.

Despite the obvious boom in the global real estate market, there are signs that housing prices have peaked in some parts of the World. In 18 countries, price growth slowed down slightly from June to September, including New Zealand, the United States, and the United Kingdom. The reason for the slowdown was the increase in interest rates, changes in taxation, and problems with accessibility.

TOP-10 countries in the world by annual growth of housing prices excluding inflation

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1. Turkey +35.5%
2. South Korea +26.4%
3. New Zealand +21.9%
4. Sweden +20.3%
5. Australia +18.9%
6. USA +18.7%
7. Jersey +18.4%
8. Netherlands +18.4%
9. Slovakia +18.4%
10. Canada +17.3%

TOP-10 countries in the world for annual growth of housing prices adjusted for inflation

Source: pexels.com

1. South Korea +23.9%
2. Sweden +17.8%
3. New Zealand +17%
4. Turkey +15.9%
5. Australia +15.9%
6. Netherlands +15.7%
7. Jersey +14.9%
8. Slovakia +13.9%
9. USA +13.3%
10. Canada +12.9%

Key facts:

• Russia is ranked in the rating of nominal annual growth in housing prices between the Czech Republic and Luxembourg with an indicator of 14.6%. Taking into account inflation, Russian "squares" rose in price by 7.1%.
• This countries, taking into account inflation, also showed the following dynamics: Spain -1.4%, Italy -2.2%, Cyprus -3.8%, Bulgaria +4.3%, Germany +8.4%, Czechia +9.6%, Greece +5.8%, Finland +3%.

Source: Knight Frank

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