Global house prices increased by 4.8% in the year to the end of March 2018, according to the latest statistics from property experts.
The highest price rise was in Hong Kong, where home values were up by 14.9%.
The figures come from the Knight Frank Global House Price Index. Which tracks home values in 57 countries.
The latest data shows prices are trending up in 86% of locations – but only five (9%) registered double digit growth.
Prices are strongest in North America, although 11 of the top markets were in Europe – but so were five of the worst performing. Prices are also holding up in the Asia Pacific and Middle East.
Ukraine remains anchored in the bottom two mainly due to uncertainty over civil unrest.
Converging markets
Hong Kong floats around the top places mainly due to homes in short supply, but a program to improve home building will shortly see 96,000 new homes hit the market, said Kate Everett-Allen of Knight Frank.
The islands of Malta and Jersey face similar problems – short supply and increasing demand are pushing prices up.
“What is clear is the extent to which the outliers are disappearing with the performance of countries and territories now converging. A year ago 18% of markets recorded annual price growth above 10%, in Q1 2018 this figure has fallen to 9%,” she said.
“This may be an indication that buyer sentiment is weakening, as the shift towards tighter monetary policy and the removal of stimulus becomes a reality in key global economies.”
Property price rises: Top 10 countries
| Rank | Country | 12-month % change (Q1 2017-Q1 2018) |
| 1 | Hong Kong** | 14.90% |
| 2 | Malta*** | 13.60% |
| 3 | Iceland | 13.20% |
| 4 | Ireland | 12.70% |
| 5 | Jersey | 12.10% |
| 6 | Turkey | 9.50% |
| 7 | Bulgaria | 9.00% |
| 8 | Mexico | 8.70% |
| 9 | Netherlands | 8.70% |
| 10 | Czech Republic*** | 8.40% |
| ** Provisional ***Asking prices | ||
Property price rises: Bottom 10 countries
| Rank | Country | 12-month % change (Q1 2017-Q1 2018) |
| 48 | Poland | 0.3% |
| 49 | Morocco | -1.7% |
| 50 | Greece | 0.5% |
| 51 | Saudi Arabia | -0.7% |
| 52 | Italy | 0.1% |
| 53 | Norway | 1.9% |
| 54 | Brazil | -0.2% |
| 55 | Finland | -2.1% |
| 56 | Ukraine | -0.7% |
| 57 | Peru | -1.6% |
Source: Knight Frank
