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Monday, 4-Apr-2011 12:37 Email | Share | Bookmark
Worldwide Property Prices Continued to Rise Quickly in 2006

Northern European nations noticed the highest home value rises in 2006, amid the 40 nations monitored by the World-wide House Guide (which maintains the world's single most significant assortment of home cost indices).Major the charge was Estonia with an impressive 54% house value boost in 2006. This followed typical dwelling value rises of 57% in 2005, and twenty five% in 2004.Estonia was followed by Denmark which experienced 23% property price rises in 2006, then by Norway (14%) and Ireland (thirteen%). Other nations in northern Europe also had remarkable residence cost increases, such as Sweden, UK, and Finland.Early indicators advise that Latvia's sturdy home value expansion will proceed in 2006, following 27% house price tag rises in 2005. This will be verified as quickly as official figures arrive in.Outside Europe, South Africa, 2004's star performer, continues to experience sturdy house cost growth, with 2006 house price rises of 12.seven%. However, this is a far cry from the 33% boosts recorded in 2004, and the 17% rises of 2005.Countries attracting immigrants are also going through powerful home price tag raises, specifically Canada (11%), New Zealand (10%) and, to a particular extent, the US (8%) and Australia (6.5%).Central Europe lags behindSouthern Europe, the favourite destination of 2nd property consumers and holidaymakers, is also going through powerful property value raises.France seasoned a twelve.five% house value increase from 3Q 2005 to 3Q 2006, whilst Spain registered a 10% rise in 2006 and Italy six.6%. However property rates in Portugal dipped marginally (-.four%), following a lackluster recent previous.Austria's housing renaissance continued, with six.eight% price tag boosts in Vienna, after eight% cost rises during 2005.Most countries in Central Europe, nevertheless, remained unexciting. 2006 saw quite small price boosts in Switzerland (2.9%), Luxembourg (two.9%), Germany (two.8%) and Poland (2.2%). Philippines prospects Asia The Philippine genuine estate industry registered the greatest cost expansion in Asia for the duration of 2006 at eleven.six% (Philippine residence prices had dropped most after the 1997 Asian Crisis).Indonesia's house prices rose 8.76%, from 3Q 2005 to 3Q 2006. Nonetheless Indonesian inflation was high in 2006 at thirteen%, so in true terms Indonesian residence charges really fell.Singapore's residential residence cost index rose 7.six% y-o-y to 3Q 2006, the city state's highest cost improve since 2000.Malaysia and Taiwan are even now muddling through, and saw only marginal price increases of 1.four% and 1.one%, respectively.The preceding powerful property price tag progress in Thailand throughout 2004 and 2005 came to an conclude, as the political crisis spilled over to the economic system, and 2006 saw home value falls of almost one%.Japan has not witnessed the stop of far more than a decade of home price tag falls. Business residence values are risingin Tokyo and some main metropolitan areas, but in the rest of the region property rates are nevertheless static.The global house boom is slowing Numerous far more countries seasoned nominal property cost boosts in 2006, than price falls. Yet the speed of housing value raises in 2006 was normally down on 2005.A number of nations experienced fairly substantial slowdowns in their housing markets, with no seeing actual value falls. Nations in this class, where the value rise charge dropped by far more than 5 percentage factors, include Poland (six.6 proportion point reduction on previous fee of house price rise), US (5.6% reduction on preceding rate of property price tag improve) and New Zealand (five.02% reduction on 2005's cost-rise rate).Nevertheless, US property rates showed no true decline in 2006, both in the course of the yr, or from one particular quarter to the up coming, according to the OFHEO property price tag index, despite some press reports to the opposite.It is tempting to attribute the slowdown in numerous nations to interest rate rises, specially in Europe and the US.However, other forces arrived into play in some countries. Israel (typically not incorporated in most "global" residence price tag reviews) seasoned value declines in 2006 (-four%), following a recovery in 2005. The value fall can be attributed to the war with Hezbollah in Lebanon, and other political troubles.The remarkable upsurge of Hong Kong home prices in 2003 and 2004, and sudden cooling down in 2005 and 2006, also deserve a far better explanation than the typical speculative bubble theory.See the table at http://www.globalpropertyguide.com/articleread.php?article_id=80&ampcid=.[url=http://hongkong.property-x.net]Hong Kong Property[/url]\nRelated Sites : hong kong property


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