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Global Property Markets See 2.8% Price Growth

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Europe  real estate values  Middle east  Asia Pacific  South America  North America  Liam Bailey  Global Property Market 

Global Property Markets See 2.8% Price Growth

By - Tuesday 29 March 2011

The global property market recovery continued to rise in stature in the last quarter of 2010 with house values climbing 2.8 per cent, the latest data shows.

Knight Frank's Global House Price Index has revealed that real estate values are have been enjoying a sustained period of growth, although there still remains significant regional differences.

The growth was led by countries located within the Asia-Pacific region, which recorded a 7.5 per cent annual increase, this was followed by the Middle East, at 5.3 per cent and South America, at 3.8 per cent. The weakest region was North America, which saw no change in values over the past 12 months.

Liam Bailey, head of residential research at Knight Frank, said: "The key trend at play in the global market is the unwinding of the stimulus packages put forward in 2009 in Europe, North America and Asia-Pacific.

"It looks increasingly likely that Asian markets will escape a crash in prices, but in many of the previously 'hot markets' - price falls later this year seems a realistic assumption."

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