17 Aug

Worldwide property prices on the up

Worldwide property prices on the up

The cost of property worldwide has increased by 6.5 per cent over the past year, according to the latest index.

It is the highest annual rate of growth in three years recorded by the Knight Frank global house price index.

A total of 11 countries out of 55 showed double-digit price growth over the past 12 months. Iceland had the largest average growth in price at 17.8 per cent, followed by China with 10.3 per cent.

Kate Everett-Allen, International Residential Research at Knight Frank, said: “An Asian revival might be overstating it but we are certainly seeing the region’s key cities of Hong Kong and Singapore rise up the rankings following years of lacklustre prime price growth.”

France and the Netherlands also recorded a price rise, but South Korea, the UK and Germany showed a slowdown in price growth.ADNFCR-1222-ID-801838930-ADNFCR

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