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The Real Estate Markets That Rise The Most In The World

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Introduction

It has already been in the top positions for a decade and prices continue to grow. If, in global terms, residential housing increased by 4.8% from March 2017 to March 2018, in Hong Kong the increase was 14.9%. The data is from the latest pricing study by Knight Frank, an international consulting firm that provides residential and commercial real estate services worldwide.

Top ten with a great European presence

Hong Kong is followed by Malta, Iceland, Ireland, and the island of Jersey, all with increases of more than 12% in twelve months. The cases of Malta and Jersey are explained by a supply much lower than the growing demand. In Ireland, the rise corresponds to four consecutive years as the fastest-growing economy in all of Europe.

The ranking of the top ten positions is completed by Turkey, Bulgaria, Mexico, the Netherlands, and the Czech Republic, with growths between 8.4% and 9.5%.

North America is in the lead, and Europe consolidates

The study analyzes data from a total of 57 countries on five continents (albeit with few African examples). By geographical region, North America as a whole occupies the first position, with a growth of 6.6%. Europe confirms its recovery and is on its heels with a global rise of 5.3%.

However, detailed analysis reveals that the situation on the old continent is not at all uniform: the large rises in the strongest economies contrast with the negative rates in Greece, Italy, Norway, and Finland, all of which are at the bottom of the list.

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The Middle East has a growth of 3.5%, Latin America reaches 3% and Africa (with data only from Morocco and South Africa) registers a positive behavior of 0.5% . On the other hand, Russia and a good part of the former Soviet republics currently register negative percentages.

Spain, at position 41

The Spanish real estate market, according to the data collected in this report, registered a price increase of 2.7% between March 2017 and March 2018, and 0.5% if only the first quarter of 2018 is taken into account, which places the country in position 41 of the Knight Frank ranking.

However, the figures contrast with those of other studies, such as the Photocasa Real Estate Index, which reflects an annual increase of 5.6% in the price of second-hand housing with data from January 2018. More recently, the Price Index of Housing (IPV) of the National Statistics Institute (INE) indicates an increase of 6.3% year-on-year and 1.4% in the last quarter. It should also be taken into account that there is a great difference between autonomous communities, with Madrid (+ 10.2%), Catalonia (+ 8.6%), and the Balearic Islands (+ 8.2%) at the top.

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If these figures are taken into account, Spain would be among the twenty countries with the highest price increases in the international ranking. In any case, it is confirmed that the housing market in our country continues to show clear signs of recovery, both in prices and in sales and purchases.

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