The world’s housing markets show signs of hope. Sixteen of the 27 countries that have published their third quarter results with GlobalPropertyGuide.com experienced rising prices. Only 11 countries reported falling prices. After being negatively affected during the economic slump, the UK, Canada, Germany, Singapore and South Africa are finally noting positive price changes quarter-on-quarter.
The world seems polarized between economies of Asia and those of Eastern Europe and the UAE. Except for Thailand, the Asian economies are enjoying strong economic growth and high residential property price rises. In contrast, growth in Eastern Europe and the UAE has stalled and property markets have crashed.
On the global scale, while some markets’ increases are more modest than others, the over-arching trend is toward recovery.