27/03/2008

Global property picture

As economic uncertainty deflates the West, emerging countries grow stronger, as the latest Global House Price Index from Knight Frank reveals.

Key Highlights:

• Global house price inflation in Q4 2007 stood at 8.2%, compared to 9.7% in Q4 2006
• Bulgaria tops the index as the country with the greatest annualised price growth (33.7%)
• Latvia falls 25 places having recorded negative year on year growth of -7.1%, two paces ahead of Estonia, which suffered price falls of 14.5% over 2007
• In the Far East, Singapore with annualised growth of 31.3% and Hong Kong at 22.3% both outperformed the market, as did China, which has seen prices in some cities rise by over 20%

For further details contact liam.bailey@knightfrank.com. For an update on the UK property market and the role of Guaranteed Sale Price schemes in the current climate see the spring issue of Re:locate.

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